OILD vs. DOG
OILD (MicroSectorsTM Oil & Gas Exploration & Production -3X Inverse Leveraged ETNs) and DOG (ProShares Short Dow30) are both Inverse Equities funds - OILD tracks the Solactive MicroSectors Oil & Gas Exploration & Production Index (-300%) while DOG tracks the DJ Industrial Average (-100%). Both are passively managed. Over the past 3 years, OILD returned -44.01%/yr vs -9.11%/yr for DOG. At a 0.35 correlation, their price movements are largely independent. Both charge a 0.95% expense ratio.
Performance
OILD vs. DOG - Performance Comparison
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Returns By Period
In the year-to-date period, OILD achieves a -51.09% return, which is significantly lower than DOG's -6.19% return.
OILD
- 1D
- -2.73%
- 1M
- 20.25%
- YTD
- -51.09%
- 6M
- -52.16%
- 1Y
- -62.90%
- 3Y*
- -44.01%
- 5Y*
- —
- 10Y*
- —
DOG
- 1D
- -0.14%
- 1M
- -2.61%
- YTD
- -6.19%
- 6M
- -4.81%
- 1Y
- -13.88%
- 3Y*
- -9.11%
- 5Y*
- -5.85%
- 10Y*
- -11.67%
OILD vs. DOG - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
OILD MicroSectorsTM Oil & Gas Exploration & Production -3X Inverse Leveraged ETNs | -51.09% | -41.67% | -14.58% | -19.58% | -90.32% | 3.83% |
DOG ProShares Short Dow30 | -6.19% | -8.40% | -5.62% | -7.05% | 5.67% | -0.60% |
Correlation
The correlation between OILD and DOG is -0.04, 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 | -0.04 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.24 |
Correlation (All Time) Calculated using the full available price history since Nov 9, 2021 | 0.35 |
The correlation between OILD and DOG shifts across timeframes, from -0.04 (1 year) to 0.35 (all time), reflecting how their relationship changes across market environments.
OILD vs. DOG - Sectors Allocation Comparison
Sectors
OILD
DOG
Energy
-
Basic Materials
-
-
Communication Services
-
-
Consumer Cyclical
-
-
Consumer Defensive
-
-
Financial Services
-
Healthcare
-
-
Industrials
-
-
Real Estate
-
-
Technology
-
-
Utilities
-
-
Energy
OILD
DOG
-
Basic Materials
OILD
-
DOG
-
Communication Services
OILD
-
DOG
-
Consumer Cyclical
OILD
-
DOG
-
Consumer Defensive
OILD
-
DOG
-
Financial Services
OILD
-
DOG
Healthcare
OILD
-
DOG
-
Industrials
OILD
-
DOG
-
Real Estate
OILD
-
DOG
-
Technology
OILD
-
DOG
-
Utilities
OILD
-
DOG
-
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Return for Risk
OILD vs. DOG — Risk / Return Rank
OILD
DOG
OILD vs. DOG - 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 ProShares Short Dow30 (DOG). 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.
| OILD | DOG | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.11 | ||
| Sortino ratioReturn per unit of downside risk | -0.27 | ||
| Omega ratioGain probability vs. loss probability | 0.82 | 0.83 | -0.01 |
| Calmar ratioReturn relative to maximum drawdown | -0.85 | -1.02 | +0.18 |
| Martin ratioReturn relative to average drawdown | -1.40 | -1.86 | +0.46 |
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Drawdowns
OILD vs. DOG - Drawdown Comparison
The maximum OILD drawdown since its inception was -98.90%, which is greater than DOG's maximum drawdown of -92.79%. Use the drawdown chart below to compare losses from any high point for OILD and DOG.
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Drawdown Indicators
| OILD | DOG | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -98.90% | -92.79% | -6.11% |
Max Drawdown (1Y)Largest decline over 1 year | -74.53% | -13.59% | -60.94% |
Max Drawdown (3Y)Largest decline over 3 years | -87.76% | -29.71% | -58.05% |
Max Drawdown (5Y)Largest decline over 5 years | — | -34.86% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -70.74% | — |
Current DrawdownCurrent decline from peak | -98.41% | -92.77% | -5.64% |
Average DrawdownAverage peak-to-trough decline | -88.69% | -66.46% | -22.23% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 44.80% | 7.97% | +36.83% |
Volatility
OILD vs. DOG - Volatility Comparison
MicroSectorsTM Oil & Gas Exploration & Production -3X Inverse Leveraged ETNs (OILD) has a higher volatility of 21.07% compared to ProShares Short Dow30 (DOG) at 4.12%. This indicates that OILD's price experiences larger fluctuations and is considered to be riskier than DOG based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| OILD | DOG | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 21.07% | 4.12% | +16.95% |
Volatility (6M)Calculated over the trailing 6-month period | 49.80% | 9.85% | +39.95% |
Volatility (1Y)Calculated over the trailing 1-year period | 62.31% | 12.38% | +49.93% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 79.36% | 14.83% | +64.53% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 79.36% | 17.48% | +61.88% |
OILD vs. DOG - Expense Ratio Comparison
Both OILD and DOG have an expense ratio of 0.95%.
Dividends
OILD vs. DOG - Dividend Comparison
OILD has not paid dividends to shareholders, while DOG's dividend yield for the trailing twelve months is around 3.36%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
DOG ProShares Short Dow30 | 3.36% | 3.65% | 5.72% | 4.54% | 0.41% | 0.00% | 0.14% | 1.54% | 0.86% | 0.04% |
OILD MicroSectorsTM Oil & Gas Exploration & Production -3X Inverse Leveraged ETNs | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
OILD and DOG have a correlation of -0.04, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
OILD has higher volatility (21.07%) compared to DOG (4.12%). In terms of maximum drawdown, OILD dropped -98.90% vs DOG's -92.79%.
On 3-year performance, DOG leads with -9.11% vs -44.01% for OILD. Both ETFs have the same 0.95% expense ratio. On volatility, DOG has been the lower-risk option at 4.12%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, DOG has performed better with a -9.11% return vs -44.01%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
OILD and DOG have the same expense ratio: 0.95% per year.
DOG has the higher dividend yield at 3.36%, compared with 0.00% for OILD.
OILD tracks Solactive MicroSectors Oil & Gas Exploration & Production Index (-300%), while DOG tracks DJ Industrial Average (-100%). They also come from different issuers: REX and ProShares.
OILD currently has the higher Sharpe Ratio (-1.01 vs -1.13), 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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