IEO vs. OILT

Last updated Jun 4, 2026

IEO (iShares U.S. Oil & Gas Exploration & Production ETF) and OILT (Texas Capital Texas Oil Index ETF) are both Energy Equities funds - IEO tracks the Dow Jones U.S. Select Oil Exploration & Production Index while OILT tracks the Alerian Texas Weighted Oil and Gas Index - Benchmark TR Gross. Both are passively managed. Over the past year, IEO returned 40.11% vs 47.26% for OILT. Their correlation of 0.94 suggests significant overlap in exposure. IEO charges 0.42%/yr vs 0.35%/yr for OILT.

Performance

IEO vs. OILT - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares U.S. Oil & Gas Exploration & Production ETF (IEO) and Texas Capital Texas Oil Index ETF (OILT). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both investments are quite close, with IEO having a 34.59% return and OILT slightly higher at 35.33%.

IEO

• 1D: 1.66%
• 1M: -3.23%
• YTD: 34.59%
• 6M: 26.42%
• 1Y: 40.11%
• 3Y*: 16.01%
• 5Y*: 18.96%
• 10Y*: 10.42%

OILT

• 1D: 1.74%
• 1M: -4.77%
• YTD: 35.33%
• 6M: 29.79%
• 1Y: 47.26%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

IEO vs. OILT - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
IEO iShares U.S. Oil & Gas Exploration & Production ETF	34.59%	2.15%	-1.45%	-1.07%
OILT Texas Capital Texas Oil Index ETF	35.33%	-3.30%	0.87%	-0.16%

Correlation

The correlation between IEO and OILT is 0.95, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.95
Correlation (All Time) Calculated using the full available price history since Dec 22, 2023	0.94

The correlation between IEO and OILT has been stable across timeframes, ranging from 0.94 to 0.95 - a consistent structural relationship.

IEO vs. OILT - Sectors Allocation Comparison

Sectors	IEO	OILT
Energy	99.3%	94.2%
Basic Materials	0.7%	-
Communication Services	-	-
Consumer Cyclical	-	-
Consumer Defensive	-	-
Financial Services	-	-
Healthcare	-	-
Industrials	-	-
Real Estate	-	-
Technology	-	-
Utilities	-	5.8%

Return for Risk

IEO vs. OILT — Risk / Return Rank

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

IEO

IEO Risk / Return Rank: 45
IEO Sharpe Ratio Rank: 45
IEO Sortino Ratio Rank: 41
IEO Omega Ratio Rank: 40
IEO Calmar Ratio Rank: 56
IEO Martin Ratio Rank: 45

OILT

OILT Risk / Return Rank: 51
OILT Sharpe Ratio Rank: 49
OILT Sortino Ratio Rank: 45
OILT Omega Ratio Rank: 42
OILT Calmar Ratio Rank: 70
OILT Martin Ratio Rank: 50

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.

IEO vs. OILT - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares U.S. Oil & Gas Exploration & Production ETF (IEO) and Texas Capital Texas Oil Index ETF (OILT). 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.

	IEO	OILT	Difference
Sharpe ratio: Return per unit of total volatility	1.61	1.70	-0.09
Sortino ratio: Return per unit of downside risk	2.12	2.25	-0.13
Omega ratio: Gain probability vs. loss probability	1.26	1.27	-0.01
Calmar ratio: Return relative to maximum drawdown	2.82	3.44	-0.62
Martin ratio: Return relative to average drawdown	7.63	8.37	-0.75
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

IEO vs. OILT - Sharpe Ratio Comparison

The current IEO Sharpe Ratio is 1.61, which is comparable to the OILT Sharpe Ratio of 1.70. The chart below compares the historical Sharpe Ratios of IEO and OILT, 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

	IEO	OILT	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.61	1.70	-0.09
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.62	—	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.30	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.17	0.42	-0.25

Drawdowns

IEO vs. OILT - Drawdown Comparison

The maximum IEO drawdown since its inception was -79.17%, which is greater than OILT's maximum drawdown of -35.21%. Use the drawdown chart below to compare losses from any high point for IEO and OILT.

Drawdown Indicators

	IEO	OILT	Difference
Max Drawdown Largest peak-to-trough decline	-79.17%	-35.21%	-43.96%
Max Drawdown (1Y) Largest decline over 1 year	-14.30%	-13.79%	-0.51%
Max Drawdown (3Y) Largest decline over 3 years	-31.46%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-31.46%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-75.00%	—	—
Current Drawdown Current decline from peak	-7.30%	-8.67%	+1.37%
Average Drawdown Average peak-to-trough decline	-26.27%	-12.93%	-13.34%
Ulcer Index Depth and duration of drawdowns from previous peaks	5.28%	5.66%	-0.38%

Volatility

IEO vs. OILT - Volatility Comparison

The current volatility for iShares U.S. Oil & Gas Exploration & Production ETF (IEO) is 9.32%, while Texas Capital Texas Oil Index ETF (OILT) has a volatility of 9.94%. This indicates that IEO experiences smaller price fluctuations and is considered to be less risky than OILT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	IEO	OILT	Difference
Volatility (1M) Calculated over the trailing 1-month period	9.32%	9.94%	-0.62%
Volatility (6M) Calculated over the trailing 6-month period	19.86%	21.13%	-1.27%
Volatility (1Y) Calculated over the trailing 1-year period	25.15%	28.09%	-2.94%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	30.54%	28.72%	+1.82%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	35.00%	28.72%	+6.28%

IEO vs. OILT - Expense Ratio Comparison

IEO has a 0.42% expense ratio, which is higher than OILT's 0.35% expense ratio.

Dividends

IEO vs. OILT - Dividend Comparison

IEO's dividend yield for the trailing twelve months is around 1.97%, less than OILT's 2.43% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
IEO iShares U.S. Oil & Gas Exploration & Production ETF	1.97%	2.61%	2.63%	3.00%	3.77%	2.62%	3.17%	1.85%	1.67%	0.94%	0.98%	2.03%
OILT Texas Capital Texas Oil Index ETF	2.43%	3.12%	2.63%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both IEO and OILT in my portfolio?

With a correlation of 0.95, IEO and OILT move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which is riskier, IEO or OILT?

OILT has higher volatility (9.94%) compared to IEO (9.32%). In terms of maximum drawdown, IEO dropped -79.17% vs OILT's -35.21%.

Which ETF is better, IEO or OILT?

On 1-year performance, OILT leads with 47.26% vs 40.11% for IEO. On fees, OILT is cheaper at 0.35% per year. On volatility, IEO has been the lower-risk option at 9.32%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, IEO or OILT?

Over the 1-year period, OILT has performed better with a 47.26% return vs 40.11%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, IEO or OILT?

OILT is cheaper with a 0.35% expense ratio, compared with 0.42% for IEO.

Which ETF pays a higher dividend yield, IEO or OILT?

OILT has the higher dividend yield at 2.43%, compared with 1.97% for IEO.

What is the main difference between IEO and OILT?

IEO tracks Dow Jones U.S. Select Oil Exploration & Production Index, while OILT tracks Alerian Texas Weighted Oil and Gas Index - Benchmark TR Gross. They also come from different issuers: iShares and Texas Capital. Their fees differ too: 0.42% for IEO and 0.35% for OILT.

Which has better risk-adjusted returns?

OILT currently has the higher Sharpe Ratio (1.70 vs 1.61), 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.