IEO vs. WTIU

Last updated Jun 4, 2026

IEO (iShares U.S. Oil & Gas Exploration & Production ETF) and WTIU (MicroSectors Energy 3X Leveraged ETN) are both exchange-traded funds - IEO is a Energy Equities fund tracking the Dow Jones U.S. Select Oil Exploration & Production Index, while WTIU is a Leveraged Equities fund tracking the Solactive MicroSectors Energy Index - Benchmark TR Gross (--300%). Both are passively managed. Over the past 3 years, IEO returned 16.01%/yr vs 5.93%/yr for WTIU. With a 0.97 correlation, they move nearly in lockstep. IEO charges 0.42%/yr vs 0.95%/yr for WTIU.

Performance

IEO vs. WTIU - 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 MicroSectors Energy 3X Leveraged ETN (WTIU). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, IEO achieves a 34.59% return, which is significantly lower than WTIU's 91.57% return.

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%

WTIU

• 1D: 4.02%
• 1M: -7.74%
• YTD: 91.57%
• 6M: 66.33%
• 1Y: 103.25%
• 3Y*: 5.93%
• 5Y*: —
• 10Y*: —

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

IEO vs. WTIU - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
IEO iShares U.S. Oil & Gas Exploration & Production ETF	34.59%	2.15%	-1.45%	4.25%
WTIU MicroSectors Energy 3X Leveraged ETN	91.57%	-17.13%	-29.63%	-28.42%

Correlation

The correlation between IEO and WTIU is 0.97 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.97
Correlation (3Y) Calculated over the trailing 3-year period	0.96
Correlation (All Time) Calculated using the full available price history since Feb 16, 2023	0.97

The correlation between IEO and WTIU has been stable across timeframes, ranging from 0.96 to 0.97 - a consistent structural relationship.

IEO vs. WTIU - Sectors Allocation Comparison

Sectors	IEO	WTIU
Energy	99.3%	100.0%
Basic Materials	0.7%	-
Communication Services	-	-
Consumer Cyclical	-	-
Consumer Defensive	-	-
Financial Services	-	-
Healthcare	-	-
Industrials	-	-
Real Estate	-	-
Technology	-	-
Utilities	-	-

Return for Risk

IEO vs. WTIU — 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

WTIU

WTIU Risk / Return Rank: 43
WTIU Sharpe Ratio Rank: 43
WTIU Sortino Ratio Rank: 38
WTIU Omega Ratio Rank: 37
WTIU Calmar Ratio Rank: 54
WTIU Martin Ratio Rank: 41

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. WTIU - 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 MicroSectors Energy 3X Leveraged ETN (WTIU). 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	WTIU	Difference
Sharpe ratio: Return per unit of total volatility	1.61	1.54	+0.06
Sortino ratio: Return per unit of downside risk	2.12	2.00	+0.12
Omega ratio: Gain probability vs. loss probability	1.26	1.25	+0.01
Calmar ratio: Return relative to maximum drawdown	2.82	2.65	+0.16
Martin ratio: Return relative to average drawdown	7.63	6.55	+1.08
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. WTIU - Sharpe Ratio Comparison

The current IEO Sharpe Ratio is 1.61, which is comparable to the WTIU Sharpe Ratio of 1.54. The chart below compares the historical Sharpe Ratios of IEO and WTIU, 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	WTIU	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.61	1.54	+0.06
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	-0.09	+0.26

Drawdowns

IEO vs. WTIU - Drawdown Comparison

The maximum IEO drawdown since its inception was -79.17%, roughly equal to the maximum WTIU drawdown of -75.73%. Use the drawdown chart below to compare losses from any high point for IEO and WTIU.

Drawdown Indicators

	IEO	WTIU	Difference
Max Drawdown Largest peak-to-trough decline	-79.17%	-75.73%	-3.44%
Max Drawdown (1Y) Largest decline over 1 year	-14.30%	-39.11%	+24.81%
Max Drawdown (3Y) Largest decline over 3 years	-31.46%	-75.73%	+44.27%
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%	-32.10%	+24.80%
Average Drawdown Average peak-to-trough decline	-26.27%	-39.19%	+12.92%
Ulcer Index Depth and duration of drawdowns from previous peaks	5.28%	15.83%	-10.55%

Volatility

IEO vs. WTIU - Volatility Comparison

The current volatility for iShares U.S. Oil & Gas Exploration & Production ETF (IEO) is 9.32%, while MicroSectors Energy 3X Leveraged ETN (WTIU) has a volatility of 27.06%. This indicates that IEO experiences smaller price fluctuations and is considered to be less risky than WTIU based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	IEO	WTIU	Difference
Volatility (1M) Calculated over the trailing 1-month period	9.32%	27.06%	-17.74%
Volatility (6M) Calculated over the trailing 6-month period	19.86%	54.98%	-35.12%
Volatility (1Y) Calculated over the trailing 1-year period	25.15%	67.51%	-42.36%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	30.54%	70.62%	-40.08%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	35.00%	70.62%	-35.62%

IEO vs. WTIU - Expense Ratio Comparison

IEO has a 0.42% expense ratio, which is lower than WTIU's 0.95% expense ratio.

Dividends

IEO vs. WTIU - Dividend Comparison

IEO's dividend yield for the trailing twelve months is around 1.97%, while WTIU has not paid dividends to shareholders.

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%
WTIU MicroSectors Energy 3X Leveraged ETN	0.00%	0.00%	0.00%	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 WTIU in my portfolio?

With a correlation of 0.97, IEO and WTIU 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 WTIU?

WTIU has higher volatility (27.06%) compared to IEO (9.32%). In terms of maximum drawdown, IEO dropped -79.17% vs WTIU's -75.73%.

Which ETF is better, IEO or WTIU?

On 3-year performance, IEO leads with 16.01% vs 5.93% for WTIU. On fees, IEO is cheaper at 0.42% 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 WTIU?

Over the 3-year period, IEO has performed better with a 16.01% return vs 5.93%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, IEO or WTIU?

IEO is cheaper with a 0.42% expense ratio, compared with 0.95% for WTIU.

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

IEO has the higher dividend yield at 1.97%, compared with 0.00% for WTIU.

What is the main difference between IEO and WTIU?

IEO is categorized as Energy Equities, while WTIU is Leveraged Equities. IEO tracks Dow Jones U.S. Select Oil Exploration & Production Index, while WTIU tracks Solactive MicroSectors Energy Index - Benchmark TR Gross (--300%). They also come from different issuers: iShares and REX. Their fees differ too: 0.42% for IEO and 0.95% for WTIU.

Which has better risk-adjusted returns?

IEO currently has the higher Sharpe Ratio (1.61 vs 1.54), 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.