OILD vs. DRIP
OILD (MicroSectorsTM Oil & Gas Exploration & Production -3X Inverse Leveraged ETNs) and DRIP (Direxion Daily S&P Oil & Gas Exploration & Production Bear 2x Shares) are both exchange-traded funds - OILD is a Inverse Equities fund tracking the Solactive MicroSectors Oil & Gas Exploration & Production Index (-300%), while DRIP is a Leveraged Equities fund tracking the S&P Oil & Gas Exploration & Production Select Industry Index (-300%). Both are passively managed. Over the past 3 years, OILD returned -43.79%/yr vs -26.17%/yr for DRIP. Their correlation of 0.93 means they have usually moved in the same direction. OILD charges 0.95%/yr vs 1.07%/yr for DRIP.
Performance
OILD vs. DRIP - Performance Comparison
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Returns By Period
In the year-to-date period, OILD achieves a -64.92% return, which is significantly lower than DRIP's -55.32% return.
OILD
- 1D
- -3.75%
- 1M
- -31.76%
- 6M
- -47.49%
- YTD
- -64.92%
- 1Y
- -72.17%
- 3Y*
- -43.79%
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- -59.42%
DRIP
- 1D
- -2.95%
- 1M
- -25.11%
- 6M
- -44.52%
- YTD
- -55.32%
- 1Y
- -59.32%
- 3Y*
- -26.17%
- 5Y*
- -45.26%
- 10Y*
- -43.88%
- ALL TIME*
- -42.20%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $16.97M | $70.63M | $133.34M | |
| $2.56M | $2.79M | $3.90M |
OILD vs. DRIP - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
OILD MicroSectorsTM Oil & Gas Exploration & Production -3X Inverse Leveraged ETNs | -64.92% | -41.67% | -14.58% | -19.58% | -90.32% | 3.83% |
DRIP Direxion Daily S&P Oil & Gas Exploration & Production Bear 2x Shares | -55.32% | -14.81% | 1.27% | -17.24% | -73.57% | 22.83% |
Correlation
The correlation between OILD and DRIP is 0.91, meaning they have usually moved in the same direction, including during past declines.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.91 |
Correlation (3Y) Balances recent behavior with more history. | 0.93 |
Correlation (All Time) Calculated using the full available price history since Nov 9, 2021 | 0.93 |
The correlation between OILD and DRIP has been stable across timeframes, ranging from 0.91 to 0.93 - a consistent structural relationship.
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Return for Risk
OILD vs. DRIP — Risk / Return Rank
OILD
DRIP
OILD vs. DRIP - 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 Direxion Daily S&P Oil & Gas Exploration & Production Bear 2x Shares (DRIP). 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 | DRIP | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.12 | ||
| Sortino ratioReturn per unit of downside risk | -0.57 | ||
| Omega ratioGain probability vs. loss probability | 0.78 | 0.83 | -0.05 |
| Calmar ratioReturn relative to maximum drawdown | -0.95 | -0.91 | -0.04 |
| Martin ratioReturn relative to average drawdown | -1.42 | -1.49 | +0.06 |
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Drawdowns
OILD vs. DRIP - Drawdown Comparison
The maximum OILD drawdown since its inception was -98.90%, roughly equal to the maximum DRIP drawdown of -99.95%. Use the drawdown chart below to compare losses from any high point for OILD and DRIP.
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Drawdown Indicators
| OILD | DRIP | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -98.90% | -99.95% | +1.05% |
Max Drawdown (1Y)Largest decline over 1 year | -74.53% | -62.18% | -12.35% |
Max Drawdown (3Y)Largest decline over 3 years | -85.42% | -76.02% | -9.40% |
Max Drawdown (5Y)Largest decline over 5 years | — | -96.24% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -99.92% | — |
Current DrawdownCurrent decline from peak | -98.86% | -99.94% | +1.08% |
Average DrawdownAverage peak-to-trough decline | -88.90% | -90.56% | +1.66% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 49.58% | 37.99% | +11.59% |
Volatility
OILD vs. DRIP - Volatility Comparison
MicroSectorsTM Oil & Gas Exploration & Production -3X Inverse Leveraged ETNs (OILD) has a higher volatility of 19.24% compared to Direxion Daily S&P Oil & Gas Exploration & Production Bear 2x Shares (DRIP) at 16.75%. This indicates that OILD's price experiences larger fluctuations and is considered to be riskier than DRIP based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| OILD | DRIP | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 19.24% | 16.75% | +2.49% |
Volatility (6M)Calculated over the trailing 6-month period | 50.43% | 44.83% | +5.60% |
Volatility (1Y)Calculated over the trailing 1-year period | 63.51% | 57.15% | +6.36% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 79.08% | 67.64% | +11.44% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 79.08% | 95.75% | -16.67% |
OILD vs. DRIP - Expense Ratio Comparison
OILD has a 0.95% expense ratio, which is lower than DRIP's 1.07% expense ratio.
Dividends
OILD vs. DRIP - Dividend Comparison
OILD has not paid dividends to shareholders, while DRIP's dividend yield for the trailing twelve months is around 3.98%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
DRIP Direxion Daily S&P Oil & Gas Exploration & Production Bear 2x Shares | 3.98% | 2.86% | 4.38% | 5.09% | 0.00% | 0.00% | 0.01% | 0.96% | 0.58% |
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% |
Frequently Asked Questions
With a correlation of 0.91, OILD and DRIP 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.
OILD has higher volatility (19.24%) compared to DRIP (16.75%). In terms of maximum drawdown, OILD dropped -98.90% vs DRIP's -99.95%.
On 3-year performance, DRIP leads with -26.17% vs -43.79% for OILD. On fees, OILD is cheaper at 0.95% per year. On volatility, DRIP has been the lower-risk option at 16.75%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, DRIP has performed better with a -26.17% return vs -43.79%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
OILD is cheaper with a 0.95% expense ratio, compared with 1.07% for DRIP.
DRIP has the higher dividend yield at 3.98%, compared with 0.00% for OILD.
OILD is categorized as Inverse Equities, while DRIP is Leveraged Equities. OILD tracks Solactive MicroSectors Oil & Gas Exploration & Production Index (-300%), while DRIP tracks S&P Oil & Gas Exploration & Production Select Industry Index (-300%). They also come from different issuers: REX and Direxion. Their fees differ too: 0.95% for OILD and 1.07% for DRIP.
DRIP currently has the higher Sharpe Ratio (-0.99 vs -1.11), 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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