OILD vs. CARD

Last updated Jun 4, 2026

OILD (MicroSectorsTM Oil & Gas Exploration & Production -3X Inverse Leveraged ETNs) and CARD (Max Auto Industry -3X Inverse Leveraged ETN) are both Inverse Equities funds - OILD tracks the Solactive MicroSectors Oil & Gas Exploration & Production Index (-300%) while CARD tracks the Prime Auto Industry Index - Benchmark TR Net (--300%). Both are passively managed. Over the past year, OILD returned -72.54% vs -35.78% for CARD. At a 0.21 correlation, their price movements are largely independent. Both charge a 0.95% expense ratio.

Performance

OILD vs. CARD - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in MicroSectorsTM Oil & Gas Exploration & Production -3X Inverse Leveraged ETNs (OILD) and Max Auto Industry -3X Inverse Leveraged ETN (CARD). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, OILD achieves a -61.30% return, which is significantly lower than CARD's -2.60% return.

OILD

• 1D: -3.52%
• 1M: 4.33%
• YTD: -61.30%
• 6M: -58.58%
• 1Y: -72.54%
• 3Y*: -48.14%
• 5Y*: —
• 10Y*: —

CARD

• 1D: 1.10%
• 1M: -13.67%
• YTD: -2.60%
• 6M: -2.07%
• 1Y: -35.78%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

OILD vs. CARD - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
OILD MicroSectorsTM Oil & Gas Exploration & Production -3X Inverse Leveraged ETNs	-61.30%	-41.67%	-14.58%	-25.58%
CARD Max Auto Industry -3X Inverse Leveraged ETN	-2.60%	-60.21%	-58.19%	-30.38%

Correlation

The correlation between OILD and CARD is -0.05, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	-0.05
Correlation (All Time) Calculated using the full available price history since Jun 29, 2023	0.21

The correlation between OILD and CARD shifts across timeframes, from -0.05 (1 year) to 0.21 (all time), reflecting how their relationship changes across market environments.

Return for Risk

OILD vs. CARD — Risk / Return Rank

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

OILD

OILD Risk / Return Rank: 1
OILD Sharpe Ratio Rank: 1
OILD Sortino Ratio Rank: 0
OILD Omega Ratio Rank: 0
OILD Calmar Ratio Rank: 1
OILD Martin Ratio Rank: 1

CARD

CARD Risk / Return Rank: 4
CARD Sharpe Ratio Rank: 4
CARD Sortino Ratio Rank: 5
CARD Omega Ratio Rank: 5
CARD Calmar Ratio Rank: 3
CARD Martin Ratio Rank: 4

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.

OILD vs. CARD - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for MicroSectorsTM Oil & Gas Exploration & Production -3X Inverse Leveraged ETNs (OILD) and Max Auto Industry -3X Inverse Leveraged ETN (CARD). 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.

	OILD	CARD	Difference
Sharpe ratio Return per unit of total volatility	-1.19	-0.52	-0.67
Sortino ratio Return per unit of downside risk	-2.45	-0.43	-2.02
Omega ratio Gain probability vs. loss probability	0.75	0.95	-0.20
Calmar ratio Return relative to maximum drawdown	-0.94	-0.72	-0.21
Martin ratio Return relative to average drawdown	-1.56	-1.06	-0.50
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

OILD vs. CARD - Sharpe Ratio Comparison

The current OILD Sharpe Ratio is -1.19, which is lower than the CARD Sharpe Ratio of -0.52. The chart below compares the historical Sharpe Ratios of OILD and CARD, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	OILD	CARD	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-1.19	-0.52	-0.67
Sharpe Ratio (All Time) Calculated using the full available price history	-0.75	-0.65	-0.10

Drawdowns

OILD vs. CARD - Drawdown Comparison

The maximum OILD drawdown since its inception was -98.90%, which is greater than CARD's maximum drawdown of -93.51%. Use the drawdown chart below to compare losses from any high point for OILD and CARD.

Drawdown Indicators

	OILD	CARD	Difference
Max Drawdown Largest peak-to-trough decline	-98.90%	-93.51%	-5.39%
Max Drawdown (1Y) Largest decline over 1 year	-77.40%	-49.57%	-27.83%
Max Drawdown (3Y) Largest decline over 3 years	-88.53%	—	—
Current Drawdown Current decline from peak	-98.74%	-92.68%	-6.06%
Average Drawdown Average peak-to-trough decline	-88.64%	-68.13%	-20.51%
Ulcer Index Depth and duration of drawdowns from previous peaks	46.59%	33.93%	+12.66%

Volatility

OILD vs. CARD - Volatility Comparison

MicroSectorsTM Oil & Gas Exploration & Production -3X Inverse Leveraged ETNs (OILD) has a higher volatility of 24.24% compared to Max Auto Industry -3X Inverse Leveraged ETN (CARD) at 22.80%. This indicates that OILD's price experiences larger fluctuations and is considered to be riskier than CARD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	OILD	CARD	Difference
Volatility (1M) Calculated over the trailing 1-month period	24.24%	22.80%	+1.44%
Volatility (6M) Calculated over the trailing 6-month period	48.55%	50.05%	-1.50%
Volatility (1Y) Calculated over the trailing 1-year period	61.12%	68.70%	-7.58%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	79.39%	80.53%	-1.14%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	79.39%	80.53%	-1.14%

OILD vs. CARD - Expense Ratio Comparison

Both OILD and CARD have an expense ratio of 0.95%.

Dividends

OILD vs. CARD - Dividend Comparison

Neither OILD nor CARD has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both OILD and CARD in my portfolio?

OILD and CARD have a correlation of -0.05, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, OILD or CARD?

OILD has higher volatility (24.24%) compared to CARD (22.80%). In terms of maximum drawdown, OILD dropped -98.90% vs CARD's -93.51%.

Which ETF is better, OILD or CARD?

On 1-year performance, CARD leads with -35.78% vs -72.54% for OILD. Both ETFs have the same 0.95% expense ratio. On volatility, CARD has been the lower-risk option at 22.80%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, OILD or CARD?

Over the 1-year period, CARD has performed better with a -35.78% return vs -72.54%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, OILD or CARD?

OILD and CARD have the same expense ratio: 0.95% per year.

Which ETF pays a higher dividend yield, OILD or CARD?

OILD and CARD have nearly identical dividend yields, around 0.00%.

What is the main difference between OILD and CARD?

OILD tracks Solactive MicroSectors Oil & Gas Exploration & Production Index (-300%), while CARD tracks Prime Auto Industry Index - Benchmark TR Net (--300%). They also come from different issuers: REX and Max.

Which has better risk-adjusted returns?

CARD currently has the higher Sharpe Ratio (-0.52 vs -1.19), 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.