OIH vs. DVXE
OIH (VanEck Oil Services ETF) and DVXE (WEBs Energy XLE Defined Volatility ETF) are both Energy Equities funds - OIH tracks the MVIS US Listed Oil Services 25 Index while DVXE tracks the Syntax Defined Volatility XLE Index. Both are passively managed. Over the past year, OIH returned 65.42% vs 57.20% for DVXE. Their 0.70 correlation means they have sometimes moved together and sometimes differently. OIH charges 0.35%/yr vs 0.89%/yr for DVXE.
Performance
OIH vs. DVXE - Performance Comparison
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Returns By Period
In the year-to-date period, OIH achieves a 34.19% return, which is significantly lower than DVXE's 46.78% return.
OIH
- 1D
- -0.70%
- 1M
- 6.27%
- 6M
- 9.53%
- YTD
- 34.19%
- 1Y
- 65.42%
- 3Y*
- 5.59%
- 5Y*
- 18.06%
- 10Y*
- -2.24%
- ALL TIME*
- -0.07%
DVXE
- 1D
- -2.54%
- 1M
- 12.73%
- 6M
- 26.71%
- YTD
- 46.78%
- 1Y
- 57.20%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 51.50%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $11.25K | $12.70K | $16.35K | |
| $100.78M | $109.60M | $140.77M |
OIH vs. DVXE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
OIH VanEck Oil Services ETF | 34.19% | 21.68% |
DVXE WEBs Energy XLE Defined Volatility ETF | 46.78% | 4.49% |
Correlation
The correlation between OIH and DVXE is 0.70, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.70 |
Correlation (All Time) Calculated using the full available price history since Jul 23, 2025 | 0.70 |
The correlation between OIH and DVXE has been stable across timeframes, ranging from 0.70 to 0.70 - a consistent structural relationship.
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Return for Risk
OIH vs. DVXE — Risk / Return Rank
OIH
DVXE
OIH vs. DVXE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for VanEck Oil Services ETF (OIH) and WEBs Energy XLE Defined Volatility ETF (DVXE). 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 | DVXE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.38 | ||
| Sortino ratioReturn per unit of downside risk | +0.53 | ||
| Omega ratioGain probability vs. loss probability | 1.35 | 1.29 | +0.06 |
| Calmar ratioReturn relative to maximum drawdown | 3.16 | 2.63 | +0.53 |
| Martin ratioReturn relative to average drawdown | 9.62 | 6.13 | +3.49 |
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Drawdowns
OIH vs. DVXE - Drawdown Comparison
The maximum OIH drawdown since its inception was -94.45%, which is greater than DVXE's maximum drawdown of -21.83%. Use the drawdown chart below to compare losses from any high point for OIH and DVXE.
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Drawdown Indicators
| OIH | DVXE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -94.45% | -21.83% | -72.62% |
Max Drawdown (1Y)Largest decline over 1 year | -20.78% | -21.83% | +1.05% |
Max Drawdown (3Y)Largest decline over 3 years | -43.80% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -43.80% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -89.62% | — | — |
Current DrawdownCurrent decline from peak | -65.97% | -10.89% | -55.08% |
Average DrawdownAverage peak-to-trough decline | -48.94% | -7.26% | -41.68% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 6.82% | 9.35% | -2.53% |
Volatility
OIH vs. DVXE - Volatility Comparison
The current volatility for VanEck Oil Services ETF (OIH) is 7.97%, while WEBs Energy XLE Defined Volatility ETF (DVXE) has a volatility of 8.92%. This indicates that OIH experiences smaller price fluctuations and is considered to be less risky than DVXE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| OIH | DVXE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 7.97% | 8.92% | -0.95% |
Volatility (6M)Calculated over the trailing 6-month period | 20.96% | 22.51% | -1.55% |
Volatility (1Y)Calculated over the trailing 1-year period | 29.39% | 30.90% | -1.51% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 36.47% | 30.84% | +5.63% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 42.31% | 30.84% | +11.47% |
OIH vs. DVXE - Expense Ratio Comparison
OIH has a 0.35% expense ratio, which is lower than DVXE's 0.89% expense ratio.
Dividends
OIH vs. DVXE - Dividend Comparison
OIH's dividend yield for the trailing twelve months is around 1.27%, while DVXE has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
DVXE WEBs Energy XLE Defined Volatility ETF | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 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
OIH and DVXE have a correlation of 0.70, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
DVXE has higher volatility (8.92%) compared to OIH (7.97%). In terms of maximum drawdown, OIH dropped -94.45% vs DVXE's -21.83%.
On 1-year performance, OIH leads with 65.42% vs 57.20% for DVXE. On fees, OIH is cheaper at 0.35% per year. On volatility, OIH has been the lower-risk option at 7.97%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, OIH has performed better with a 65.42% return vs 57.20%. 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 0.89% for DVXE.
OIH has the higher dividend yield at 1.27%, compared with 0.00% for DVXE.
OIH tracks MVIS US Listed Oil Services 25 Index, while DVXE tracks Syntax Defined Volatility XLE Index. They also come from different issuers: VanEck and WEBs. Their fees differ too: 0.35% for OIH and 0.89% for DVXE.
OIH currently has the higher Sharpe Ratio (2.24 vs 1.86), 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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