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OIH vs. IEZ
Performance
Return for Risk
Drawdowns
Volatility
Dividends

OIH vs. IEZ

Last updated Jun 24, 2026

OIH (VanEck Oil Services ETF) and IEZ (iShares U.S. Oil Equipment & Services ETF) are both Energy Equities funds - OIH tracks the MVIS US Listed Oil Services 25 Index while IEZ tracks the Dow Jones U.S. Select Oil Equipment & Services Index. Both are passively managed. Over the past 10 years, OIH returned -2.32%/yr vs -1.46%/yr for IEZ. With a 0.99 correlation, they move nearly in lockstep. OIH charges 0.35%/yr vs 0.42%/yr for IEZ.

Performance

OIH vs. IEZ - Performance Comparison

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

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Returns By Period

The year-to-date returns for both stocks are quite close, with OIH having a 35.03% return and IEZ slightly lower at 33.32%. Over the past 10 years, OIH has underperformed IEZ with an annualized return of -2.32%, while IEZ has yielded a comparatively higher -1.46% annualized 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%

IEZ

1D
-0.72%
1M
-12.99%
YTD
33.32%
6M
33.77%
1Y
64.80%
3Y*
15.70%
5Y*
12.80%
10Y*
-1.46%
*Multi-year figures are annualized to reflect compound growth (CAGR)

OIH vs. IEZ - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
OIH
VanEck Oil Services ETF		35.03%6.81%-10.53%3.20%66.17%21.22%-41.19%-3.54%-45.03%-19.66%
IEZ
iShares U.S. Oil Equipment & Services ETF		33.32%7.51%-8.15%4.43%65.73%15.98%-42.98%1.82%-42.47%-18.18%

Correlation

The correlation between OIH and IEZ is 0.99 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

0.99

Correlation (3Y)
Calculated over the trailing 3-year period

0.99

Correlation (5Y)
Calculated over the trailing 5-year period

0.99

Correlation (10Y)
Calculated over the trailing 10-year period

0.99

Correlation (All Time)
Calculated using the full available price history since May 5, 2006

0.99

The correlation between OIH and IEZ has been stable across timeframes, ranging from 0.99 to 0.99 - a consistent structural relationship.

OIH vs. IEZ - Sectors Allocation Comparison

Sectors
OIH
IEZ

Energy

97.6%
99.3%

Utilities

1.9%
1.0%

Basic Materials

-

-

Communication Services

-

-

Consumer Cyclical

-

-

Consumer Defensive

-

-

Financial Services

-

-

Healthcare

-

-

Industrials

-

0.7%

Real Estate

-

-

Technology

-

-

Energy

OIH
97.6%
IEZ
99.3%

Utilities

OIH
1.9%
IEZ
1.0%

Basic Materials

OIH

-

IEZ

-

Communication Services

OIH

-

IEZ

-

Consumer Cyclical

OIH

-

IEZ

-

Consumer Defensive

OIH

-

IEZ

-

Financial Services

OIH

-

IEZ

-

Healthcare

OIH

-

IEZ

-

Industrials

OIH

-

IEZ
0.7%

Real Estate

OIH

-

IEZ

-

Technology

OIH

-

IEZ

-

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

VanEck Oil Services ETF

iShares U.S. Oil Equipment & Services ETF

Often compared with OIH:
OIH vs. XLEOIH vs. XOPOIH vs. XESOIH vs. IXCOIH vs. IYEOIH vs. BZ=FOIH vs. DIG
Often compared with IEZ:
IEZ vs. XESIEZ vs. XOPIEZ vs. FCGIEZ vs. EZUIEZ vs. IEOIEZ vs. IBBQIEZ vs. USO

Return for Risk

OIH vs. IEZ — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
OIH
OIH Risk / Return Rank: 7575
Overall Rank
OIH Sharpe Ratio Rank: 7575
Sharpe Ratio Rank
OIH Sortino Ratio Rank: 6969
Sortino Ratio Rank
OIH Omega Ratio Rank: 6363
Omega Ratio Rank
OIH Calmar Ratio Rank: 8585
Calmar Ratio Rank
OIH Martin Ratio Rank: 8383
Martin Ratio Rank
IEZ
IEZ Risk / Return Rank: 7474
Overall Rank
IEZ Sharpe Ratio Rank: 7474
Sharpe Ratio Rank
IEZ Sortino Ratio Rank: 6767
Sortino Ratio Rank
IEZ Omega Ratio Rank: 6363
Omega Ratio Rank
IEZ Calmar Ratio Rank: 8484
Calmar Ratio Rank
IEZ Martin Ratio Rank: 8181
Martin Ratio Rank
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. IEZ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for VanEck Oil Services ETF (OIH) and iShares U.S. Oil Equipment & Services ETF (IEZ). 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.

OIHIEZDifference
Sharpe ratioReturn per unit of total volatility
2.30
2.23

+0.06

Sortino ratioReturn per unit of downside risk
2.97
2.91

+0.06

Omega ratioGain probability vs. loss probability

1.36

1.36

0.00

Calmar ratioReturn relative to maximum drawdown

4.51

4.35

+0.16

Martin ratioReturn relative to average drawdown

16.04

15.22

+0.82

OIH vs. IEZ - Sharpe Ratio Comparison

The current OIH Sharpe Ratio is 2.30, which is comparable to the IEZ Sharpe Ratio of 2.23. The chart below compares the historical Sharpe Ratios of OIH and IEZ, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

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Drawdowns

OIH vs. IEZ - Drawdown Comparison

The maximum OIH drawdown since its inception was -94.45%, roughly equal to the maximum IEZ drawdown of -92.52%. Use the drawdown chart below to compare losses from any high point for OIH and IEZ.

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Drawdown Indicators

OIHIEZDifference

Max Drawdown

Largest peak-to-trough decline

-94.45%

-92.52%

-1.93%

Max Drawdown (1Y)

Largest decline over 1 year

-15.29%

-14.97%

-0.32%

Max Drawdown (3Y)

Largest decline over 3 years

-43.80%

-40.25%

-3.55%

Max Drawdown (5Y)

Largest decline over 5 years

-43.80%

-40.25%

-3.55%

Max Drawdown (10Y)

Largest decline over 10 years

-89.62%

-88.29%

-1.33%

Current Drawdown

Current decline from peak

-65.76%

-56.00%

-9.76%

Average Drawdown

Average peak-to-trough decline

-48.87%

-48.26%

-0.61%

Ulcer Index

Depth and duration of drawdowns from previous peaks

4.29%

4.27%

+0.02%

Volatility

OIH vs. IEZ - Volatility Comparison

VanEck Oil Services ETF (OIH) and iShares U.S. Oil Equipment & Services ETF (IEZ) have volatilities of 10.14% and 9.89%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

OIHIEZDifference

Volatility (1M)

Calculated over the trailing 1-month period

10.14%

9.89%

+0.25%

Volatility (6M)

Calculated over the trailing 6-month period

21.14%

20.84%

+0.30%

Volatility (1Y)

Calculated over the trailing 1-year period

30.39%

29.51%

+0.88%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

36.79%

36.32%

+0.47%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

42.38%

41.52%

+0.86%

OIH vs. IEZ - Expense Ratio Comparison

OIH has a 0.35% expense ratio, which is lower than IEZ's 0.42% expense ratio.

Dividends

OIH vs. IEZ - Dividend Comparison

OIH's dividend yield for the trailing twelve months is around 1.27%, more than IEZ's 1.24% yield.

PositionTTM20252024202320222021202020192018201720162015
IEZ
iShares U.S. Oil Equipment & Services ETF		1.24%1.87%1.76%0.97%0.65%1.20%2.07%2.28%1.81%3.42%0.91%2.40%
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

With a correlation of 0.99, OIH and IEZ move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

OIH has higher volatility (10.14%) compared to IEZ (9.89%). In terms of maximum drawdown, OIH dropped -94.45% vs IEZ's -92.52%.

On 10-year performance, IEZ leads with -1.46% vs -2.32% for OIH. On fees, OIH is cheaper at 0.35% per year. On volatility, IEZ has been the lower-risk option at 9.89%. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 10-year period, IEZ has performed better with a -1.46% return vs -2.32%. 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 0.42% for IEZ.

OIH has the higher dividend yield at 1.27%, compared with 1.24% for IEZ.

OIH tracks MVIS US Listed Oil Services 25 Index, while IEZ tracks Dow Jones U.S. Select Oil Equipment & Services Index. They also come from different issuers: VanEck and iShares. Their fees differ too: 0.35% for OIH and 0.42% for IEZ.

OIH currently has the higher Sharpe Ratio (2.30 vs 2.23), 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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