OIH vs. DRLL

Last updated Jun 24, 2026

OIH (VanEck Oil Services ETF) and DRLL (Strive U.S. Energy ETF) are both Energy Equities funds - OIH tracks the MVIS US Listed Oil Services 25 Index while DRLL tracks the Bloomberg US Energy Select Index. Both are passively managed. Over the past 3 years, OIH returned 14.83%/yr vs 12.49%/yr for DRLL. Their correlation of 0.81 suggests significant overlap in exposure. OIH charges 0.35%/yr vs 0.41%/yr for DRLL.

Performance

OIH vs. DRLL - Performance Comparison

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

Returns By Period

In the year-to-date period, OIH achieves a 35.03% return, which is significantly higher than DRLL's 21.39% return.

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%

DRLL

• 1D: 0.59%
• 1M: -7.79%
• YTD: 21.39%
• 6M: 21.91%
• 1Y: 26.18%
• 3Y*: 12.49%
• 5Y*: —
• 10Y*: —

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

OIH vs. DRLL - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
OIH VanEck Oil Services ETF	35.03%	6.81%	-10.53%	3.20%	35.75%
DRLL Strive U.S. Energy ETF	21.39%	7.74%	0.02%	-1.84%	15.52%

Correlation

The correlation between OIH and DRLL is 0.68, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.68
Correlation (3Y) Calculated over the trailing 3-year period	0.76
Correlation (All Time) Calculated using the full available price history since Aug 9, 2022	0.81

The correlation between OIH and DRLL shifts across timeframes, from 0.68 (1 year) to 0.81 (all time), reflecting how their relationship changes across market environments.

OIH vs. DRLL - Sectors Allocation Comparison

Sectors	OIH	DRLL
Energy	97.6%	99.2%
Utilities	1.9%	-
Basic Materials	-	-
Communication Services	-	-
Consumer Cyclical	-	0.8%
Consumer Defensive	-	-
Financial Services	-	-
Healthcare	-	-
Industrials	-	-
Real Estate	-	-
Technology	-	-

Return for Risk

OIH vs. DRLL — Risk / Return Rank

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

OIH

OIH Risk / Return Rank: 75
OIH Sharpe Ratio Rank: 75
OIH Sortino Ratio Rank: 69
OIH Omega Ratio Rank: 63
OIH Calmar Ratio Rank: 85
OIH Martin Ratio Rank: 83

DRLL

DRLL Risk / Return Rank: 33
DRLL Sharpe Ratio Rank: 35
DRLL Sortino Ratio Rank: 32
DRLL Omega Ratio Rank: 30
DRLL Calmar Ratio Rank: 34
DRLL Martin Ratio Rank: 34

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.

OIH vs. DRLL - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for VanEck Oil Services ETF (OIH) and Strive U.S. Energy ETF (DRLL). 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.

	OIH	DRLL	Difference
Sharpe ratio: Return per unit of total volatility	2.30	1.16	+1.14
Sortino ratio: Return per unit of downside risk	2.97	1.61	+1.36
Omega ratio: Gain probability vs. loss probability	1.36	1.20	+0.16
Calmar ratio: Return relative to maximum drawdown	4.51	1.58	+2.93
Martin ratio: Return relative to average drawdown	16.04	4.66	+11.38

OIH vs. DRLL - Sharpe Ratio Comparison

The current OIH Sharpe Ratio is 2.30, which is higher than the DRLL Sharpe Ratio of 1.16. The chart below compares the historical Sharpe Ratios of OIH and DRLL, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

OIH vs. DRLL - Drawdown Comparison

The maximum OIH drawdown since its inception was -94.45%, which is greater than DRLL's maximum drawdown of -23.73%. Use the drawdown chart below to compare losses from any high point for OIH and DRLL.

Drawdown Indicators

	OIH	DRLL	Difference
Max Drawdown Largest peak-to-trough decline	-94.45%	-23.73%	-70.72%
Max Drawdown (1Y) Largest decline over 1 year	-15.29%	-16.66%	+1.37%
Max Drawdown (3Y) Largest decline over 3 years	-43.80%	-23.73%	-20.07%
Max Drawdown (5Y) Largest decline over 5 years	-43.80%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-89.62%	—	—
Current Drawdown Current decline from peak	-65.76%	-15.01%	-50.75%
Average Drawdown Average peak-to-trough decline	-48.87%	-8.07%	-40.80%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.29%	5.64%	-1.35%

Volatility

OIH vs. DRLL - Volatility Comparison

VanEck Oil Services ETF (OIH) has a higher volatility of 10.14% compared to Strive U.S. Energy ETF (DRLL) at 7.92%. This indicates that OIH's price experiences larger fluctuations and is considered to be riskier than DRLL based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	OIH	DRLL	Difference
Volatility (1M) Calculated over the trailing 1-month period	10.14%	7.92%	+2.22%
Volatility (6M) Calculated over the trailing 6-month period	21.14%	18.45%	+2.69%
Volatility (1Y) Calculated over the trailing 1-year period	30.39%	22.78%	+7.61%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	36.79%	23.82%	+12.97%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	42.38%	23.82%	+18.56%

OIH vs. DRLL - Expense Ratio Comparison

OIH has a 0.35% expense ratio, which is lower than DRLL's 0.41% expense ratio.

Dividends

OIH vs. DRLL - Dividend Comparison

OIH's dividend yield for the trailing twelve months is around 1.27%, less than DRLL's 2.52% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
DRLL Strive U.S. Energy ETF	2.52%	2.99%	3.00%	3.01%	1.18%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
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

Can I hold both OIH and DRLL in my portfolio?

OIH and DRLL have a correlation of 0.68, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, OIH or DRLL?

OIH has higher volatility (10.14%) compared to DRLL (7.92%). In terms of maximum drawdown, OIH dropped -94.45% vs DRLL's -23.73%.

Which ETF is better, OIH or DRLL?

On 3-year performance, OIH leads with 14.83% vs 12.49% for DRLL. On fees, OIH is cheaper at 0.35% per year. On volatility, DRLL has been the lower-risk option at 7.92%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, OIH or DRLL?

Over the 3-year period, OIH has performed better with a 14.83% return vs 12.49%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, OIH or DRLL?

OIH is cheaper with a 0.35% expense ratio, compared with 0.41% for DRLL.

Which ETF pays a higher dividend yield, OIH or DRLL?

DRLL has the higher dividend yield at 2.52%, compared with 1.27% for OIH.

What is the main difference between OIH and DRLL?

OIH tracks MVIS US Listed Oil Services 25 Index, while DRLL tracks Bloomberg US Energy Select Index. They also come from different issuers: VanEck and Strive. Their fees differ too: 0.35% for OIH and 0.41% for DRLL.

Which has better risk-adjusted returns?

OIH currently has the higher Sharpe Ratio (2.30 vs 1.16), 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.