ICSH vs. OILK

Last updated Jun 4, 2026

ICSH (iShares Ultra Short Duration Bond Active ETF) and OILK (ProShares K-1 Free Crude Oil Strategy ETF) are both exchange-traded funds - ICSH is a Ultrashort Bond fund tracking the ICE BofA US 6-Month Treasury Bill Index (USD), while OILK is a Oil & Gas fund tracking the Bloomberg Commodity Balanced WTI Crude Oil Index. Both are passively managed. Over the past 5 years, ICSH returned 3.67%/yr vs 17.73%/yr for OILK. At a correlation of -0.05, they often move in opposite directions. ICSH charges 0.08%/yr vs 0.68%/yr for OILK.

Performance

ICSH vs. OILK - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares Ultra Short Duration Bond Active ETF (ICSH) and ProShares K-1 Free Crude Oil Strategy ETF (OILK). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, ICSH achieves a 1.45% return, which is significantly lower than OILK's 64.22% return.

ICSH

• 1D: 0.00%
• 1M: 0.34%
• YTD: 1.45%
• 6M: 1.79%
• 1Y: 4.36%
• 3Y*: 5.20%
• 5Y*: 3.67%
• 10Y*: 2.76%

OILK

• 1D: 1.40%
• 1M: -1.65%
• YTD: 64.22%
• 6M: 60.70%
• 1Y: 58.99%
• 3Y*: 19.03%
• 5Y*: 17.73%
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

ICSH vs. OILK - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
ICSH iShares Ultra Short Duration Bond Active ETF	1.45%	4.96%	5.52%	5.58%	0.97%	0.16%	1.61%	3.17%	2.25%	1.63%
OILK ProShares K-1 Free Crude Oil Strategy ETF	64.22%	-11.86%	8.18%	-0.97%	27.57%	63.71%	-61.09%	30.48%	-20.40%	2.82%

Correlation

The correlation between ICSH and OILK is -0.23, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	-0.23
Correlation (3Y) Calculated over the trailing 3-year period	-0.12
Correlation (5Y) Calculated over the trailing 5-year period	-0.08
Correlation (All Time) Calculated using the full available price history since Sep 29, 2016	-0.05

The correlation between ICSH and OILK shifts across timeframes, from -0.23 (1 year) to -0.05 (all time), reflecting how their relationship changes across market environments.

ICSH vs. OILK - Sectors Allocation Comparison

Sectors	ICSH	OILK
Utilities	100.0%	-
Basic Materials	-	-
Communication Services	-	-
Consumer Cyclical	-	100.0%
Consumer Defensive	-	-
Energy	-	-
Financial Services	-	-
Healthcare	-	-
Industrials	-	-
Real Estate	-	-
Technology	-	-

Return for Risk

ICSH vs. OILK — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

ICSH

ICSH Risk / Return Rank: 99
ICSH Sharpe Ratio Rank: 99
ICSH Sortino Ratio Rank: 100
ICSH Omega Ratio Rank: 100
ICSH Calmar Ratio Rank: 99
ICSH Martin Ratio Rank: 99

OILK

OILK Risk / Return Rank: 55
OILK Sharpe Ratio Rank: 60
OILK Sortino Ratio Rank: 53
OILK Omega Ratio Rank: 54
OILK Calmar Ratio Rank: 68
OILK Martin Ratio Rank: 42

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

ICSH vs. OILK - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares Ultra Short Duration Bond Active ETF (ICSH) and ProShares K-1 Free Crude Oil Strategy ETF (OILK). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

	ICSH	OILK	Difference
Sharpe ratio: Return per unit of total volatility	11.22	2.06	+9.16
Sortino ratio: Return per unit of downside risk	28.46	2.59	+25.87
Omega ratio: Gain probability vs. loss probability	6.79	1.34	+5.45
Calmar ratio: Return relative to maximum drawdown	44.30	3.42	+40.88
Martin ratio: Return relative to average drawdown	297.17	6.91	+290.26
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

ICSH vs. OILK - Sharpe Ratio Comparison

The current ICSH Sharpe Ratio is 11.22, which is higher than the OILK Sharpe Ratio of 2.06. The chart below compares the historical Sharpe Ratios of ICSH and OILK, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	ICSH	OILK	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	11.22	2.06	+9.16
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	7.64	0.59	+7.05
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	2.62	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.93	0.12	+1.82

Drawdowns

ICSH vs. OILK - Drawdown Comparison

The maximum ICSH drawdown since its inception was -3.94%, smaller than the maximum OILK drawdown of -83.76%. Use the drawdown chart below to compare losses from any high point for ICSH and OILK.

Drawdown Indicators

	ICSH	OILK	Difference
Max Drawdown Largest peak-to-trough decline	-3.94%	-83.76%	+79.82%
Max Drawdown (1Y) Largest decline over 1 year	-0.10%	-17.35%	+17.25%
Max Drawdown (3Y) Largest decline over 3 years	-0.10%	-23.42%	+23.32%
Max Drawdown (5Y) Largest decline over 5 years	-0.73%	-34.69%	+33.96%
Max Drawdown (10Y) Largest decline over 10 years	-3.94%	—	—
Current Drawdown Current decline from peak	0.00%	-3.66%	+3.66%
Average Drawdown Average peak-to-trough decline	-0.08%	-32.61%	+32.53%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.01%	8.56%	-8.55%

Volatility

ICSH vs. OILK - Volatility Comparison

The current volatility for iShares Ultra Short Duration Bond Active ETF (ICSH) is 0.15%, while ProShares K-1 Free Crude Oil Strategy ETF (OILK) has a volatility of 10.44%. This indicates that ICSH experiences smaller price fluctuations and is considered to be less risky than OILK based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	ICSH	OILK	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.15%	10.44%	-10.29%
Volatility (6M) Calculated over the trailing 6-month period	0.30%	23.26%	-22.96%
Volatility (1Y) Calculated over the trailing 1-year period	0.39%	28.75%	-28.36%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	0.48%	30.12%	-29.64%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	1.06%	35.97%	-34.91%

ICSH vs. OILK - Expense Ratio Comparison

ICSH has a 0.08% expense ratio, which is lower than OILK's 0.68% expense ratio.

Dividends

ICSH vs. OILK - Dividend Comparison

ICSH's dividend yield for the trailing twelve months is around 4.34%, less than OILK's 8.18% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
ICSH iShares Ultra Short Duration Bond Active ETF	4.34%	4.55%	5.24%	4.78%	1.66%	0.42%	1.21%	2.61%	2.20%	1.36%	0.88%	0.54%
OILK ProShares K-1 Free Crude Oil Strategy ETF	8.18%	4.79%	3.11%	5.80%	17.32%	68.82%	0.13%	0.94%	0.58%	6.17%	0.00%	0.00%

Frequently Asked Questions

Can I hold both ICSH and OILK in my portfolio?

ICSH and OILK have a correlation of -0.23, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, ICSH or OILK?

OILK has higher volatility (10.44%) compared to ICSH (0.15%). In terms of maximum drawdown, ICSH dropped -3.94% vs OILK's -83.76%.

Which ETF is better, ICSH or OILK?

On 5-year performance, OILK leads with 17.73% vs 3.67% for ICSH. On fees, ICSH is cheaper at 0.08% per year. On volatility, ICSH has been the lower-risk option at 0.15%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, ICSH or OILK?

Over the 5-year period, OILK has performed better with a 17.73% return vs 3.67%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, ICSH or OILK?

ICSH is cheaper with a 0.08% expense ratio, compared with 0.68% for OILK.

Which ETF pays a higher dividend yield, ICSH or OILK?

OILK has the higher dividend yield at 8.18%, compared with 4.34% for ICSH.

What is the main difference between ICSH and OILK?

ICSH is categorized as Ultrashort Bond, while OILK is Oil & Gas. ICSH tracks ICE BofA US 6-Month Treasury Bill Index (USD), while OILK tracks Bloomberg Commodity Balanced WTI Crude Oil Index. They also come from different issuers: iShares and ProShares. Their fees differ too: 0.08% for ICSH and 0.68% for OILK.

Which has better risk-adjusted returns?

ICSH currently has the higher Sharpe Ratio (11.22 vs 2.06), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.