KHPI vs. OILK
KHPI (Kensington Hedged Premium Income ETF) and OILK (ProShares K-1 Free Crude Oil Strategy ETF) are both exchange-traded funds - KHPI is a Derivative Income fund actively managed by Kensington Asset Management, while OILK is a Oil & Gas fund tracking the Bloomberg Commodity Balanced WTI Crude Oil Index. KHPI is actively managed, while OILK is passively managed. Over the past year, KHPI returned 15.09% vs 58.99% for OILK. At a correlation of -0.06, they often move in opposite directions. KHPI charges 0.96%/yr vs 0.68%/yr for OILK.
Performance
KHPI vs. OILK - Performance Comparison
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Returns By Period
In the year-to-date period, KHPI achieves a 5.45% return, which is significantly lower than OILK's 64.22% return.
KHPI
- 1D
- -0.50%
- 1M
- 2.40%
- YTD
- 5.45%
- 6M
- 4.74%
- 1Y
- 15.09%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
OILK
- 1D
- 1.40%
- 1M
- -1.65%
- YTD
- 64.22%
- 6M
- 60.70%
- 1Y
- 58.99%
- 3Y*
- 19.03%
- 5Y*
- 17.73%
- 10Y*
- —
KHPI vs. OILK - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
KHPI Kensington Hedged Premium Income ETF | 5.45% | 11.14% | 4.29% |
OILK ProShares K-1 Free Crude Oil Strategy ETF | 64.22% | -11.86% | 5.66% |
Correlation
The correlation between KHPI and OILK is -0.20, 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 | -0.20 |
Correlation (All Time) Calculated using the full available price history since Sep 6, 2024 | -0.06 |
The correlation between KHPI and OILK shifts across timeframes, from -0.20 (1 year) to -0.06 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
KHPI vs. OILK — Risk / Return Rank
KHPI
OILK
KHPI vs. OILK - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Kensington Hedged Premium Income ETF (KHPI) 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.
| KHPI | OILK | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.03 | ||
| Sortino ratioReturn per unit of downside risk | +0.43 | ||
| Omega ratioGain probability vs. loss probability | 1.39 | 1.34 | +0.05 |
| Calmar ratioReturn relative to maximum drawdown | 2.31 | 3.42 | -1.10 |
| Martin ratioReturn relative to average drawdown | 10.89 | 6.91 | +3.98 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| KHPI | OILK | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.10 | 2.06 | +0.03 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | 0.59 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 1.28 | 0.12 | +1.17 |
Drawdowns
KHPI vs. OILK - Drawdown Comparison
The maximum KHPI drawdown since its inception was -10.58%, smaller than the maximum OILK drawdown of -83.76%. Use the drawdown chart below to compare losses from any high point for KHPI and OILK.
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Drawdown Indicators
| KHPI | OILK | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -10.58% | -83.76% | +73.18% |
Max Drawdown (1Y)Largest decline over 1 year | -6.55% | -17.35% | +10.80% |
Max Drawdown (3Y)Largest decline over 3 years | — | -23.42% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -34.69% | — |
Current DrawdownCurrent decline from peak | -0.50% | -3.66% | +3.16% |
Average DrawdownAverage peak-to-trough decline | -1.23% | -32.61% | +31.38% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.39% | 8.56% | -7.17% |
Volatility
KHPI vs. OILK - Volatility Comparison
The current volatility for Kensington Hedged Premium Income ETF (KHPI) is 2.20%, while ProShares K-1 Free Crude Oil Strategy ETF (OILK) has a volatility of 10.44%. This indicates that KHPI 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.
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Volatility by Period
| KHPI | OILK | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.20% | 10.44% | -8.24% |
Volatility (6M)Calculated over the trailing 6-month period | 5.49% | 23.26% | -17.77% |
Volatility (1Y)Calculated over the trailing 1-year period | 7.24% | 28.75% | -21.51% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 9.61% | 30.12% | -20.51% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 9.61% | 35.97% | -26.36% |
KHPI vs. OILK - Expense Ratio Comparison
KHPI has a 0.96% expense ratio, which is higher than OILK's 0.68% expense ratio.
Dividends
KHPI vs. OILK - Dividend Comparison
KHPI's dividend yield for the trailing twelve months is around 8.86%, more than OILK's 8.18% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
KHPI Kensington Hedged Premium Income ETF | 8.86% | 8.90% | 3.01% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
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% |
Frequently Asked Questions
KHPI and OILK have a correlation of -0.20, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
OILK has higher volatility (10.44%) compared to KHPI (2.20%). In terms of maximum drawdown, KHPI dropped -10.58% vs OILK's -83.76%.
On 1-year performance, OILK leads with 58.99% vs 15.09% for KHPI. On fees, OILK is cheaper at 0.68% per year. On volatility, KHPI has been the lower-risk option at 2.20%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, OILK has performed better with a 58.99% return vs 15.09%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
OILK is cheaper with a 0.68% expense ratio, compared with 0.96% for KHPI.
KHPI has the higher dividend yield at 8.86%, compared with 8.18% for OILK.
KHPI is categorized as Derivative Income, while OILK is Oil & Gas. They also come from different issuers: Kensington Asset Management and ProShares. Their fees differ too: 0.96% for KHPI and 0.68% for OILK.
KHPI currently has the higher Sharpe Ratio (2.10 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.
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