M vs. CRAK

Last updated Jun 4, 2026

M (Macy's, Inc.) is a stock, while CRAK (VanEck Oil Refiners ETF) is Energy Equities fund tracking the MVIS Global Oil Refiners Index. Over the past 10 years, M returned -0.13%/yr vs 13.28%/yr for CRAK. At a 0.35 correlation, their price movements are largely independent.

Performance

M vs. CRAK - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Macy's, Inc. (M) and VanEck Oil Refiners ETF (CRAK). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, M achieves a -0.02% return, which is significantly lower than CRAK's 33.23% return. Over the past 10 years, M has underperformed CRAK with an annualized return of -0.13%, while CRAK has yielded a comparatively higher 13.28% annualized return.

M

• 1D: 0.60%
• 1M: 14.02%
• YTD: -0.02%
• 6M: -1.10%
• 1Y: 98.48%
• 3Y*: 17.28%
• 5Y*: 7.89%
• 10Y*: -0.13%

CRAK

• 1D: 0.56%
• 1M: -1.83%
• YTD: 33.23%
• 6M: 27.96%
• 1Y: 67.58%
• 3Y*: 22.78%
• 5Y*: 13.54%
• 10Y*: 13.28%

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

M vs. CRAK - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
M Macy's, Inc.	-0.02%	36.55%	-12.41%	1.64%	-18.66%	135.80%	-31.08%	-38.20%	23.64%	-25.29%
CRAK VanEck Oil Refiners ETF	33.23%	39.11%	-15.05%	13.73%	19.10%	10.90%	-11.22%	9.15%	-10.46%	49.86%

Correlation

The correlation between M and CRAK is 0.18, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.18
Correlation (3Y) Calculated over the trailing 3-year period	0.30
Correlation (5Y) Calculated over the trailing 5-year period	0.37
Correlation (10Y) Calculated over the trailing 10-year period	0.36
Correlation (All Time) Calculated using the full available price history since Aug 20, 2015	0.35

The correlation between M and CRAK shifts across timeframes, from 0.18 (1 year) to 0.37 (5 years), reflecting how their relationship changes across market environments.

Return for Risk

M vs. CRAK — Risk / Return Rank

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

M

M Risk / Return Rank: 86
M Sharpe Ratio Rank: 89
M Sortino Ratio Rank: 89
M Omega Ratio Rank: 85
M Calmar Ratio Rank: 84
M Martin Ratio Rank: 84

CRAK

CRAK Risk / Return Rank: 93
CRAK Sharpe Ratio Rank: 94
CRAK Sortino Ratio Rank: 93
CRAK Omega Ratio Rank: 91
CRAK Calmar Ratio Rank: 95
CRAK Martin Ratio Rank: 92

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.

M vs. CRAK - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Macy's, Inc. (M) and VanEck Oil Refiners ETF (CRAK). 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.

	M	CRAK	Difference
Sharpe ratio: Return per unit of total volatility	2.19	3.70	-1.52
Sortino ratio: Return per unit of downside risk	3.19	4.76	-1.57
Omega ratio: Gain probability vs. loss probability	1.37	1.62	-0.25
Calmar ratio: Return relative to maximum drawdown	3.46	7.93	-4.47
Martin ratio: Return relative to average drawdown	8.35	22.48	-14.13
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

M vs. CRAK - Sharpe Ratio Comparison

The current M Sharpe Ratio is 2.19, which is lower than the CRAK Sharpe Ratio of 3.70. The chart below compares the historical Sharpe Ratios of M and CRAK, 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

	M	CRAK	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.19	3.70	-1.52
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.15	0.66	-0.51
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	-0.00	0.60	-0.60
Sharpe Ratio (All Time) Calculated using the full available price history	0.11	0.54	-0.43

Drawdowns

M vs. CRAK - Drawdown Comparison

The maximum M drawdown since its inception was -91.95%, which is greater than CRAK's maximum drawdown of -58.80%. Use the drawdown chart below to compare losses from any high point for M and CRAK.

Drawdown Indicators

	M	CRAK	Difference
Max Drawdown Largest peak-to-trough decline	-91.95%	-58.80%	-33.15%
Max Drawdown (1Y) Largest decline over 1 year	-28.61%	-8.57%	-20.04%
Max Drawdown (3Y) Largest decline over 3 years	-51.33%	-35.61%	-15.72%
Max Drawdown (5Y) Largest decline over 5 years	-69.65%	-35.61%	-34.04%
Max Drawdown (10Y) Largest decline over 10 years	-87.79%	-58.80%	-28.99%
Current Drawdown Current decline from peak	-52.32%	-3.81%	-48.51%
Average Drawdown Average peak-to-trough decline	-34.50%	-12.50%	-22.00%
Ulcer Index Depth and duration of drawdowns from previous peaks	11.84%	3.02%	+8.82%

Volatility

M vs. CRAK - Volatility Comparison

Macy's, Inc. (M) has a higher volatility of 12.73% compared to VanEck Oil Refiners ETF (CRAK) at 6.74%. This indicates that M's price experiences larger fluctuations and is considered to be riskier than CRAK based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	M	CRAK	Difference
Volatility (1M) Calculated over the trailing 1-month period	12.73%	6.74%	+5.99%
Volatility (6M) Calculated over the trailing 6-month period	27.84%	14.27%	+13.57%
Volatility (1Y) Calculated over the trailing 1-year period	45.33%	18.35%	+26.98%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	54.04%	20.61%	+33.43%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	56.08%	22.16%	+33.92%

Dividends

M vs. CRAK - Dividend Comparison

M's dividend yield for the trailing twelve months is around 3.39%, more than CRAK's 1.51% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
CRAK VanEck Oil Refiners ETF	1.51%	2.02%	5.60%	3.65%	3.08%	2.40%	2.64%	1.49%	2.42%	1.66%	3.42%	0.47%
M Macy's, Inc.	3.39%	3.31%	4.10%	3.29%	3.05%	1.15%	3.36%	8.88%	5.07%	5.99%	4.17%	3.98%

Frequently Asked Questions

Can I hold both M and CRAK in my portfolio?

M and CRAK have a correlation of 0.18, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, M or CRAK?

M has higher volatility (12.73%) compared to CRAK (6.74%). In terms of maximum drawdown, M dropped -91.95% vs CRAK's -58.80%.

Which has better risk-adjusted returns?

CRAK currently has the higher Sharpe Ratio (3.70 vs 2.19), 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.