OIH vs. GXPE

Last updated Aug 4, 2026

OIH (VanEck Oil Services ETF) and GXPE (Global X PureCap MSCI Energy ETF) are both Energy Equities funds - OIH tracks the MVIS US Listed Oil Services 25 Index while GXPE tracks the MSCI USA Energy PureCap Index. Both are passively managed. Over the past year, OIH returned 65.42% vs 40.31% for GXPE. Their 0.67 correlation means they have sometimes moved together and sometimes differently. OIH charges 0.35%/yr vs 0.15%/yr for GXPE.

Performance

OIH vs. GXPE - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in VanEck Oil Services ETF (OIH) and Global X PureCap MSCI Energy ETF (GXPE). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both stocks are quite close, with OIH having a 34.19% return and GXPE slightly lower at 32.81%.

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%

GXPE

• 1D: -1.24%
• 1M: 10.87%
• 6M: 18.43%
• YTD: 32.81%
• 1Y: 40.31%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 37.64%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
GXPE Global X PureCap MSCI Energy ETF	$29.80K	$20.93K	$24.13K
OIH VanEck Oil Services ETF	$100.78M	$109.60M	$140.77M

OIH vs. GXPE - Yearly Performance Comparison

	2026 (YTD)	2025
OIH VanEck Oil Services ETF	34.19%	21.68%
GXPE Global X PureCap MSCI Energy ETF	32.81%	4.62%

Correlation

The correlation between OIH and GXPE is 0.67, 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.	0.67
Correlation (All Time) Calculated using the full available price history since Jul 23, 2025	0.67

The correlation between OIH and GXPE has been stable across timeframes, ranging from 0.67 to 0.67 - a consistent structural relationship.

Return for Risk

OIH vs. GXPE — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

OIH

OIH Risk / Return Rank: 83
OIH Sharpe Ratio Rank: 89
OIH Sortino Ratio Rank: 85
OIH Omega Ratio Rank: 81
OIH Calmar Ratio Rank: 83
OIH Martin Ratio Rank: 75

GXPE

GXPE Risk / Return Rank: 68
GXPE Sharpe Ratio Rank: 78
GXPE Sortino Ratio Rank: 72
GXPE Omega Ratio Rank: 69
GXPE Calmar Ratio Rank: 67
GXPE Martin Ratio Rank: 54

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

OIH vs. GXPE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for VanEck Oil Services ETF (OIH) and Global X PureCap MSCI Energy ETF (GXPE). 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	GXPE	Difference
Sharpe ratio: Return per unit of total volatility	2.24	1.95	+0.29
Sortino ratio: Return per unit of downside risk	2.87	2.55	+0.33
Omega ratio: Gain probability vs. loss probability	1.35	1.32	+0.04
Calmar ratio: Return relative to maximum drawdown	3.16	2.58	+0.59
Martin ratio: Return relative to average drawdown	9.62	6.83	+2.80

OIH vs. GXPE - Sharpe Ratio Comparison

The current OIH Sharpe Ratio is 2.24, which is comparable to the GXPE Sharpe Ratio of 1.95. The chart below compares the historical Sharpe Ratios of OIH and GXPE, 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. GXPE - Drawdown Comparison

The maximum OIH drawdown since its inception was -94.45%, which is greater than GXPE's maximum drawdown of -15.73%. Use the drawdown chart below to compare losses from any high point for OIH and GXPE.

Drawdown Indicators

	OIH	GXPE	Difference
Max Drawdown Largest peak-to-trough decline	-94.45%	-15.73%	-78.72%
Max Drawdown (1Y) Largest decline over 1 year	-20.78%	-15.73%	-5.05%
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 Drawdown Current decline from peak	-65.97%	-5.72%	-60.25%
Average Drawdown Average peak-to-trough decline	-48.94%	-4.28%	-44.66%
Ulcer Index Depth and duration of drawdowns from previous peaks	6.82%	5.92%	+0.90%

Volatility

OIH vs. GXPE - Volatility Comparison

VanEck Oil Services ETF (OIH) has a higher volatility of 7.97% compared to Global X PureCap MSCI Energy ETF (GXPE) at 6.12%. This indicates that OIH's price experiences larger fluctuations and is considered to be riskier than GXPE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	OIH	GXPE	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.97%	6.12%	+1.85%
Volatility (6M) Calculated over the trailing 6-month period	20.96%	16.79%	+4.17%
Volatility (1Y) Calculated over the trailing 1-year period	29.39%	20.77%	+8.62%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	36.47%	20.65%	+15.82%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	42.31%	20.65%	+21.66%

OIH vs. GXPE - Expense Ratio Comparison

OIH has a 0.35% expense ratio, which is higher than GXPE's 0.15% expense ratio.

Dividends

OIH vs. GXPE - Dividend Comparison

OIH's dividend yield for the trailing twelve months is around 1.27%, less than GXPE's 2.10% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
GXPE Global X PureCap MSCI Energy ETF	2.10%	1.20%	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

Can I hold both OIH and GXPE in my portfolio?

OIH and GXPE have a correlation of 0.67, 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 GXPE?

OIH has higher volatility (7.97%) compared to GXPE (6.12%). In terms of maximum drawdown, OIH dropped -94.45% vs GXPE's -15.73%.

Which ETF is better, OIH or GXPE?

On 1-year performance, OIH leads with 65.42% vs 40.31% for GXPE. On fees, GXPE is cheaper at 0.15% per year. On volatility, GXPE has been the lower-risk option at 6.12%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, OIH or GXPE?

Over the 1-year period, OIH has performed better with a 65.42% return vs 40.31%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, OIH or GXPE?

GXPE is cheaper with a 0.15% expense ratio, compared with 0.35% for OIH.

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

GXPE has the higher dividend yield at 2.10%, compared with 1.27% for OIH.

What is the main difference between OIH and GXPE?

OIH tracks MVIS US Listed Oil Services 25 Index, while GXPE tracks MSCI USA Energy PureCap Index. They also come from different issuers: VanEck and Global X. Their fees differ too: 0.35% for OIH and 0.15% for GXPE.

Which has better risk-adjusted returns?

OIH currently has the higher Sharpe Ratio (2.24 vs 1.95), 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.