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 -41.86%/yr vs -23.75%/yr for DRIP. Their correlation of 0.93 suggests significant overlap in exposure. 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 -54.54% return, which is significantly lower than DRIP's -43.37% return.
OILD
- 1D
- -1.43%
- 1M
- 10.54%
- 6M
- -48.60%
- YTD
- -54.54%
- 1Y
- -59.78%
- 3Y*
- -41.86%
- 5Y*
- —
- 10Y*
- —
DRIP
- 1D
- 1.41%
- 1M
- 7.28%
- 6M
- -42.02%
- YTD
- -43.37%
- 1Y
- -40.76%
- 3Y*
- -23.75%
- 5Y*
- -40.11%
- 10Y*
- -41.29%
OILD vs. DRIP - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
OILD MicroSectorsTM Oil & Gas Exploration & Production -3X Inverse Leveraged ETNs | -54.54% | -41.67% | -14.58% | -19.58% | -90.32% | 3.83% |
DRIP Direxion Daily S&P Oil & Gas Exploration & Production Bear 2x Shares | -43.37% | -14.81% | 1.27% | -17.24% | -73.57% | 22.83% |
Correlation
The correlation between OILD and DRIP is 0.91, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.91 |
Correlation (3Y) Calculated over the trailing 3-year period | 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 | -0.23 | ||
| Sortino ratioReturn per unit of downside risk | -0.67 | ||
| Omega ratioGain probability vs. loss probability | 0.83 | 0.90 | -0.07 |
| Calmar ratioReturn relative to maximum drawdown | -0.82 | -0.67 | -0.15 |
| Martin ratioReturn relative to average drawdown | -1.31 | -1.17 | -0.13 |
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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 | -86.29% | -76.02% | -10.27% |
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 | -98.52% | -99.93% | +1.41% |
Average DrawdownAverage peak-to-trough decline | -88.77% | -90.50% | +1.73% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 46.48% | 35.33% | +11.15% |
Volatility
OILD vs. DRIP - Volatility Comparison
MicroSectorsTM Oil & Gas Exploration & Production -3X Inverse Leveraged ETNs (OILD) has a higher volatility of 21.60% compared to Direxion Daily S&P Oil & Gas Exploration & Production Bear 2x Shares (DRIP) at 15.59%. 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 | 21.60% | 15.59% | +6.01% |
Volatility (6M)Calculated over the trailing 6-month period | 49.90% | 43.86% | +6.04% |
Volatility (1Y)Calculated over the trailing 1-year period | 62.68% | 56.19% | +6.49% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 79.24% | 68.07% | +11.17% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 79.24% | 95.95% | -16.71% |
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 3.14%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
DRIP Direxion Daily S&P Oil & Gas Exploration & Production Bear 2x Shares | 3.14% | 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 (21.60%) compared to DRIP (15.59%). In terms of maximum drawdown, OILD dropped -98.90% vs DRIP's -99.95%.
On 3-year performance, DRIP leads with -23.75% vs -41.86% for OILD. On fees, OILD is cheaper at 0.95% per year. On volatility, DRIP has been the lower-risk option at 15.59%. 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 -23.75% return vs -41.86%. 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 3.14%, 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 (-0.74 vs -0.97), 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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