OIH vs. RAVI
OIH (VanEck Oil Services ETF) and RAVI (FlexShares Ultra-Short Income ETF) are both exchange-traded funds - OIH is a Energy Equities fund tracking the MVIS US Listed Oil Services 25 Index, while RAVI is a Ultrashort Bond fund actively managed by FlexShares. OIH is passively managed, while RAVI is actively managed. Over the past 10 years, OIH returned -2.21%/yr vs 2.67%/yr for RAVI. At a correlation of -0.03, they often move in opposite directions. OIH charges 0.35%/yr vs 0.25%/yr for RAVI.
Performance
OIH vs. RAVI - Performance Comparison
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Returns By Period
In the year-to-date period, OIH achieves a 36.57% return, which is significantly higher than RAVI's 1.64% return. Over the past 10 years, OIH has underperformed RAVI with an annualized return of -2.21%, while RAVI has yielded a comparatively higher 2.67% annualized 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%
RAVI
- 1D
- -0.01%
- 1M
- 0.25%
- YTD
- 1.64%
- 6M
- 1.77%
- 1Y
- 4.35%
- 3Y*
- 5.16%
- 5Y*
- 3.53%
- 10Y*
- 2.67%
OIH vs. RAVI - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
OIH VanEck Oil Services ETF | 36.57% | 6.81% | -10.53% | 3.20% | 66.17% | 21.22% | -41.19% | -3.54% | -45.03% | -19.66% |
RAVI FlexShares Ultra-Short Income ETF | 1.64% | 4.98% | 5.67% | 5.55% | 0.15% | -0.04% | 2.06% | 3.49% | 1.65% | 1.22% |
Correlation
The correlation between OIH and RAVI is -0.14, 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 | -0.14 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.03 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.01 |
Correlation (10Y) Calculated over the trailing 10-year period | -0.02 |
Correlation (All Time) Calculated using the full available price history since Jan 4, 2016 | -0.03 |
The correlation between OIH and RAVI shifts across timeframes, from -0.14 (1 year) to 0.01 (5 years), reflecting how their relationship changes across market environments.
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Return for Risk
OIH vs. RAVI — Risk / Return Rank
OIH
RAVI
OIH vs. RAVI - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for VanEck Oil Services ETF (OIH) and FlexShares Ultra-Short Income ETF (RAVI). 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 | RAVI | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -8.64 | ||
| Sortino ratioReturn per unit of downside risk | -20.67 | ||
| Omega ratioGain probability vs. loss probability | 1.33 | 5.22 | -3.88 |
| Calmar ratioReturn relative to maximum drawdown | 4.19 | 37.38 | -33.19 |
| Martin ratioReturn relative to average drawdown | 15.08 | 214.13 | -199.04 |
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Drawdowns
OIH vs. RAVI - Drawdown Comparison
The maximum OIH drawdown since its inception was -94.45%, which is greater than RAVI's maximum drawdown of -3.72%. Use the drawdown chart below to compare losses from any high point for OIH and RAVI.
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Drawdown Indicators
| OIH | RAVI | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -94.45% | -3.72% | -90.73% |
Max Drawdown (1Y)Largest decline over 1 year | -15.08% | -0.12% | -14.96% |
Max Drawdown (3Y)Largest decline over 3 years | -43.80% | -0.36% | -43.44% |
Max Drawdown (5Y)Largest decline over 5 years | -43.80% | -3.28% | -40.52% |
Max Drawdown (10Y)Largest decline over 10 years | -89.62% | -3.72% | -85.90% |
Current DrawdownCurrent decline from peak | -65.37% | -0.03% | -65.34% |
Average DrawdownAverage peak-to-trough decline | -48.86% | -0.17% | -48.69% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.26% | 0.02% | +4.24% |
Volatility
OIH vs. RAVI - Volatility Comparison
VanEck Oil Services ETF (OIH) has a higher volatility of 10.15% compared to FlexShares Ultra-Short Income ETF (RAVI) at 0.13%. This indicates that OIH's price experiences larger fluctuations and is considered to be riskier than RAVI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| OIH | RAVI | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 10.15% | 0.13% | +10.02% |
Volatility (6M)Calculated over the trailing 6-month period | 21.17% | 0.31% | +20.86% |
Volatility (1Y)Calculated over the trailing 1-year period | 30.42% | 0.41% | +30.01% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 36.79% | 1.41% | +35.38% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 42.42% | 1.28% | +41.14% |
OIH vs. RAVI - Expense Ratio Comparison
OIH has a 0.35% expense ratio, which is higher than RAVI's 0.25% expense ratio.
Dividends
OIH vs. RAVI - Dividend Comparison
OIH's dividend yield for the trailing twelve months is around 1.25%, less than RAVI's 4.38% 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% |
RAVI FlexShares Ultra-Short Income ETF | 4.38% | 4.59% | 5.34% | 4.55% | 1.70% | 0.90% | 1.29% | 2.53% | 2.22% | 1.28% | 0.90% | 0.00% |
Frequently Asked Questions
OIH and RAVI have a correlation of -0.14, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
OIH has higher volatility (10.15%) compared to RAVI (0.13%). In terms of maximum drawdown, OIH dropped -94.45% vs RAVI's -3.72%.
On 10-year performance, RAVI leads with 2.67% vs -2.21% for OIH. On fees, RAVI is cheaper at 0.25% per year. On volatility, RAVI has been the lower-risk option at 0.13%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, RAVI has performed better with a 2.67% return vs -2.21%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
RAVI is cheaper with a 0.25% expense ratio, compared with 0.35% for OIH.
RAVI has the higher dividend yield at 4.38%, compared with 1.25% for OIH.
OIH is categorized as Energy Equities, while RAVI is Ultrashort Bond. They also come from different issuers: VanEck and FlexShares. Their fees differ too: 0.35% for OIH and 0.25% for RAVI.
RAVI currently has the higher Sharpe Ratio (10.72 vs 2.08), 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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