OIH vs. OOSP

Last updated Jun 23, 2026

OIH (VanEck Oil Services ETF) and OOSP (Obra Opportunistic Structured Products ETF) are both exchange-traded funds - OIH is a Energy Equities fund tracking the MVIS US Listed Oil Services 25 Index, while OOSP is a Multisector Bonds fund actively managed by Obra. OIH is passively managed, while OOSP is actively managed. Over the past year, OIH returned 62.91% vs 6.71% for OOSP. At a correlation of -0.10, they often move in opposite directions. OIH charges 0.35%/yr vs 0.90%/yr for OOSP.

Performance

OIH vs. OOSP - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in VanEck Oil Services ETF (OIH) and Obra Opportunistic Structured Products ETF (OOSP). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, OIH achieves a 36.57% return, which is significantly higher than OOSP's 2.66% return.

OIH

• 1D: 0.89%
• 1M: -12.40%
• YTD: 36.57%
• 6M: 36.72%
• 1Y: 62.91%
• 3Y*: 15.27%
• 5Y*: 12.92%
• 10Y*: -2.21%

OOSP

• 1D: 0.00%
• 1M: 0.36%
• YTD: 2.66%
• 6M: 2.87%
• 1Y: 6.71%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

OIH vs. OOSP - Yearly Performance Comparison

	2026 (YTD)	2025	2024
OIH VanEck Oil Services ETF	36.57%	6.81%	-19.60%
OOSP Obra Opportunistic Structured Products ETF	2.66%	7.41%	6.27%

Correlation

The correlation between OIH and OOSP is -0.16, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	-0.16
Correlation (All Time) Calculated using the full available price history since Apr 10, 2024	-0.10

Return for Risk

OIH vs. OOSP — Risk / Return Rank

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

OIH

OIH Risk / Return Rank: 68
OIH Sharpe Ratio Rank: 66
OIH Sortino Ratio Rank: 59
OIH Omega Ratio Rank: 55
OIH Calmar Ratio Rank: 82
OIH Martin Ratio Rank: 80

OOSP

OOSP Risk / Return Rank: 72
OOSP Sharpe Ratio Rank: 56
OOSP Sortino Ratio Rank: 59
OOSP Omega Ratio Rank: 68
OOSP Calmar Ratio Rank: 89
OOSP Martin Ratio Rank: 89

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. OOSP - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for VanEck Oil Services ETF (OIH) and Obra Opportunistic Structured Products ETF (OOSP). 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	OOSP	Difference
Sharpe ratio: Return per unit of total volatility	2.08	1.85	+0.24
Sortino ratio: Return per unit of downside risk	2.72	2.68	+0.04
Omega ratio: Gain probability vs. loss probability	1.33	1.39	-0.06
Calmar ratio: Return relative to maximum drawdown	4.19	5.13	-0.94
Martin ratio: Return relative to average drawdown	15.08	19.00	-3.92

OIH vs. OOSP - Sharpe Ratio Comparison

The current OIH Sharpe Ratio is 2.08, which is comparable to the OOSP Sharpe Ratio of 1.85. The chart below compares the historical Sharpe Ratios of OIH and OOSP, 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. OOSP - Drawdown Comparison

The maximum OIH drawdown since its inception was -94.45%, which is greater than OOSP's maximum drawdown of -1.31%. Use the drawdown chart below to compare losses from any high point for OIH and OOSP.

Drawdown Indicators

	OIH	OOSP	Difference
Max Drawdown Largest peak-to-trough decline	-94.45%	-1.31%	-93.14%
Max Drawdown (1Y) Largest decline over 1 year	-15.08%	-1.31%	-13.77%
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	-65.37%	0.00%	-65.37%
Average Drawdown Average peak-to-trough decline	-48.86%	-0.20%	-48.66%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.26%	0.35%	+3.91%

Volatility

OIH vs. OOSP - Volatility Comparison

VanEck Oil Services ETF (OIH) has a higher volatility of 10.15% compared to Obra Opportunistic Structured Products ETF (OOSP) at 0.44%. This indicates that OIH's price experiences larger fluctuations and is considered to be riskier than OOSP based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	OIH	OOSP	Difference
Volatility (1M) Calculated over the trailing 1-month period	10.15%	0.44%	+9.71%
Volatility (6M) Calculated over the trailing 6-month period	21.17%	2.18%	+18.99%
Volatility (1Y) Calculated over the trailing 1-year period	30.42%	3.66%	+26.76%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	36.79%	3.32%	+33.47%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	42.42%	3.32%	+39.10%

OIH vs. OOSP - Expense Ratio Comparison

OIH has a 0.35% expense ratio, which is lower than OOSP's 0.90% expense ratio.

Dividends

OIH vs. OOSP - Dividend Comparison

OIH's dividend yield for the trailing twelve months is around 1.25%, less than OOSP's 6.45% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
OIH VanEck Oil Services ETF	1.25%	1.71%	2.01%	1.36%	0.95%	0.98%	1.23%	2.10%	2.13%	2.60%	1.40%	2.39%
OOSP Obra Opportunistic Structured Products ETF	6.45%	6.71%	5.42%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both OIH and OOSP in my portfolio?

OIH and OOSP have a correlation of -0.16, 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 OOSP?

OIH has higher volatility (10.15%) compared to OOSP (0.44%). In terms of maximum drawdown, OIH dropped -94.45% vs OOSP's -1.31%.

Which ETF is better, OIH or OOSP?

On 1-year performance, OIH leads with 62.91% vs 6.71% for OOSP. On fees, OIH is cheaper at 0.35% per year. On volatility, OOSP has been the lower-risk option at 0.44%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, OIH or OOSP?

Over the 1-year period, OIH has performed better with a 62.91% return vs 6.71%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, OIH or OOSP?

OIH is cheaper with a 0.35% expense ratio, compared with 0.90% for OOSP.

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

OOSP has the higher dividend yield at 6.45%, compared with 1.25% for OIH.

What is the main difference between OIH and OOSP?

OIH is categorized as Energy Equities, while OOSP is Multisector Bonds. They also come from different issuers: VanEck and Obra. Their fees differ too: 0.35% for OIH and 0.90% for OOSP.

Which has better risk-adjusted returns?

OIH currently has the higher Sharpe Ratio (2.08 vs 1.84), 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.