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IEZ vs. OIH
Performance
Return for Risk
Drawdowns
Volatility
Dividends

IEZ vs. OIH

Last updated Jun 24, 2026

IEZ (iShares U.S. Oil Equipment & Services ETF) and OIH (VanEck Oil Services ETF) are both Energy Equities funds - IEZ tracks the Dow Jones U.S. Select Oil Equipment & Services Index while OIH tracks the MVIS US Listed Oil Services 25 Index. Both are passively managed. Over the past 10 years, IEZ returned -1.46%/yr vs -2.32%/yr for OIH. With a 0.99 correlation, they move nearly in lockstep. IEZ charges 0.42%/yr vs 0.35%/yr for OIH.

Performance

IEZ vs. OIH - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares U.S. Oil Equipment & Services ETF (IEZ) and VanEck Oil Services ETF (OIH). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, IEZ achieves a 33.32% return, which is significantly lower than OIH's 35.03% return. Over the past 10 years, IEZ has outperformed OIH with an annualized return of -1.46%, while OIH has yielded a comparatively lower -2.32% annualized return.

IEZ

1D
-0.72%
1M
-12.99%
YTD
33.32%
6M
33.77%
1Y
64.80%
3Y*
15.70%
5Y*
12.80%
10Y*
-1.46%

OIH

1D
-1.13%
1M
-13.39%
YTD
35.03%
6M
35.52%
1Y
68.64%
3Y*
14.83%
5Y*
12.26%
10Y*
-2.32%
*Multi-year figures are annualized to reflect compound growth (CAGR)

IEZ vs. OIH - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
IEZ
iShares U.S. Oil Equipment & Services ETF		33.32%7.51%-8.15%4.43%65.73%15.98%-42.98%1.82%-42.47%-18.18%
OIH
VanEck Oil Services ETF		35.03%6.81%-10.53%3.20%66.17%21.22%-41.19%-3.54%-45.03%-19.66%

Correlation

The correlation between IEZ and OIH is 0.99 - 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

0.99

Correlation (3Y)
Calculated over the trailing 3-year period

0.99

Correlation (5Y)
Calculated over the trailing 5-year period

0.99

Correlation (10Y)
Calculated over the trailing 10-year period

0.99

Correlation (All Time)
Calculated using the full available price history since May 5, 2006

0.99

The correlation between IEZ and OIH has been stable across timeframes, ranging from 0.99 to 0.99 - a consistent structural relationship.

IEZ vs. OIH - Sectors Allocation Comparison

Sectors
IEZ
OIH

Energy

99.3%
97.6%

Utilities

1.0%
1.9%

Industrials

0.7%

-

Basic Materials

-

-

Communication Services

-

-

Consumer Cyclical

-

-

Consumer Defensive

-

-

Financial Services

-

-

Healthcare

-

-

Real Estate

-

-

Technology

-

-

Energy

IEZ
99.3%
OIH
97.6%

Utilities

IEZ
1.0%
OIH
1.9%

Industrials

IEZ
0.7%
OIH

-

Basic Materials

IEZ

-

OIH

-

Communication Services

IEZ

-

OIH

-

Consumer Cyclical

IEZ

-

OIH

-

Consumer Defensive

IEZ

-

OIH

-

Financial Services

IEZ

-

OIH

-

Healthcare

IEZ

-

OIH

-

Real Estate

IEZ

-

OIH

-

Technology

IEZ

-

OIH

-

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

iShares U.S. Oil Equipment & Services ETF

VanEck Oil Services ETF

Often compared with IEZ:
IEZ vs. XESIEZ vs. XOPIEZ vs. FCGIEZ vs. EZUIEZ vs. IEOIEZ vs. IBBQIEZ vs. USO
Often compared with OIH:
OIH vs. XLEOIH vs. XOPOIH vs. XESOIH vs. IXCOIH vs. IYEOIH vs. BZ=FOIH vs. DIG

Return for Risk

IEZ vs. OIH — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
IEZ
IEZ Risk / Return Rank: 7474
Overall Rank
IEZ Sharpe Ratio Rank: 7474
Sharpe Ratio Rank
IEZ Sortino Ratio Rank: 6767
Sortino Ratio Rank
IEZ Omega Ratio Rank: 6363
Omega Ratio Rank
IEZ Calmar Ratio Rank: 8484
Calmar Ratio Rank
IEZ Martin Ratio Rank: 8181
Martin Ratio Rank
OIH
OIH Risk / Return Rank: 7575
Overall Rank
OIH Sharpe Ratio Rank: 7575
Sharpe Ratio Rank
OIH Sortino Ratio Rank: 6969
Sortino Ratio Rank
OIH Omega Ratio Rank: 6363
Omega Ratio Rank
OIH Calmar Ratio Rank: 8585
Calmar Ratio Rank
OIH Martin Ratio Rank: 8383
Martin Ratio Rank
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.

IEZ vs. OIH - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares U.S. Oil Equipment & Services ETF (IEZ) and VanEck Oil Services ETF (OIH). 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.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

IEZOIHDifference
Sharpe ratioReturn per unit of total volatility
2.23
2.30

-0.06

Sortino ratioReturn per unit of downside risk
2.91
2.97

-0.06

Omega ratioGain probability vs. loss probability

1.36

1.36

0.00

Calmar ratioReturn relative to maximum drawdown

4.35

4.51

-0.16

Martin ratioReturn relative to average drawdown

15.22

16.04

-0.82

IEZ vs. OIH - Sharpe Ratio Comparison

The current IEZ Sharpe Ratio is 2.23, which is comparable to the OIH Sharpe Ratio of 2.30. The chart below compares the historical Sharpe Ratios of IEZ and OIH, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

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Drawdowns

IEZ vs. OIH - Drawdown Comparison

The maximum IEZ drawdown since its inception was -92.52%, roughly equal to the maximum OIH drawdown of -94.45%. Use the drawdown chart below to compare losses from any high point for IEZ and OIH.

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Drawdown Indicators

IEZOIHDifference

Max Drawdown

Largest peak-to-trough decline

-92.52%

-94.45%

+1.93%

Max Drawdown (1Y)

Largest decline over 1 year

-14.97%

-15.29%

+0.32%

Max Drawdown (3Y)

Largest decline over 3 years

-40.25%

-43.80%

+3.55%

Max Drawdown (5Y)

Largest decline over 5 years

-40.25%

-43.80%

+3.55%

Max Drawdown (10Y)

Largest decline over 10 years

-88.29%

-89.62%

+1.33%

Current Drawdown

Current decline from peak

-56.00%

-65.76%

+9.76%

Average Drawdown

Average peak-to-trough decline

-48.26%

-48.87%

+0.61%

Ulcer Index

Depth and duration of drawdowns from previous peaks

4.27%

4.29%

-0.02%

Volatility

IEZ vs. OIH - Volatility Comparison

iShares U.S. Oil Equipment & Services ETF (IEZ) and VanEck Oil Services ETF (OIH) have volatilities of 9.89% and 10.14%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

IEZOIHDifference

Volatility (1M)

Calculated over the trailing 1-month period

9.89%

10.14%

-0.25%

Volatility (6M)

Calculated over the trailing 6-month period

20.84%

21.14%

-0.30%

Volatility (1Y)

Calculated over the trailing 1-year period

29.51%

30.39%

-0.88%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

36.32%

36.79%

-0.47%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

41.52%

42.38%

-0.86%

IEZ vs. OIH - Expense Ratio Comparison

IEZ has a 0.42% expense ratio, which is higher than OIH's 0.35% expense ratio.

Dividends

IEZ vs. OIH - Dividend Comparison

IEZ's dividend yield for the trailing twelve months is around 1.24%, less than OIH's 1.27% yield.

PositionTTM20252024202320222021202020192018201720162015
IEZ
iShares U.S. Oil Equipment & Services ETF		1.24%1.87%1.76%0.97%0.65%1.20%2.07%2.28%1.81%3.42%0.91%2.40%
OIH
VanEck Oil Services ETF		1.27%1.71%2.01%1.36%0.95%0.98%1.23%2.10%2.13%2.60%1.40%2.39%

Frequently Asked Questions

With a correlation of 0.99, IEZ and OIH 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.

OIH has higher volatility (10.14%) compared to IEZ (9.89%). In terms of maximum drawdown, IEZ dropped -92.52% vs OIH's -94.45%.

On 10-year performance, IEZ leads with -1.46% vs -2.32% for OIH. On fees, OIH is cheaper at 0.35% per year. On volatility, IEZ has been the lower-risk option at 9.89%. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 10-year period, IEZ has performed better with a -1.46% return vs -2.32%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

OIH is cheaper with a 0.35% expense ratio, compared with 0.42% for IEZ.

OIH has the higher dividend yield at 1.27%, compared with 1.24% for IEZ.

IEZ tracks Dow Jones U.S. Select Oil Equipment & Services Index, while OIH tracks MVIS US Listed Oil Services 25 Index. They also come from different issuers: iShares and VanEck. Their fees differ too: 0.42% for IEZ and 0.35% for OIH.

OIH currently has the higher Sharpe Ratio (2.30 vs 2.23), 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.

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