OILD vs. EMTY
OILD (MicroSectorsTM Oil & Gas Exploration & Production -3X Inverse Leveraged ETNs) and EMTY (ProShares Decline of the Retail Store ETF) are both Inverse Equities funds - OILD tracks the Solactive MicroSectors Oil & Gas Exploration & Production Index (-300%) while EMTY tracks the Solactive-ProShares Bricks and Mortar Retail Store Index (-100%). Both are passively managed. Over the past 3 years, OILD returned -42.92%/yr vs -4.50%/yr for EMTY. Their 0.26 correlation means their historical movements had little consistent relationship. OILD charges 0.95%/yr vs 0.66%/yr for EMTY.
Performance
OILD vs. EMTY - Performance Comparison
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Returns By Period
In the year-to-date period, OILD achieves a -62.98% return, which is significantly lower than EMTY's -5.06% return.
OILD
- 1D
- 1.27%
- 1M
- -27.98%
- 6M
- -43.08%
- YTD
- -62.98%
- 1Y
- -70.97%
- 3Y*
- -42.92%
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- -58.87%
EMTY
- 1D
- -0.62%
- 1M
- -3.55%
- 6M
- 2.24%
- YTD
- -5.06%
- 1Y
- -1.85%
- 3Y*
- -4.50%
- 5Y*
- -3.60%
- 10Y*
- —
- ALL TIME*
- -11.64%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $41.45K | $40.23K | $50.91K | |
| $2.68M | $2.54M | $3.73M |
OILD vs. EMTY - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
OILD MicroSectorsTM Oil & Gas Exploration & Production -3X Inverse Leveraged ETNs | -62.98% | -41.67% | -14.58% | -19.58% | -90.32% | 3.83% |
EMTY ProShares Decline of the Retail Store ETF | -5.06% | -1.76% | -4.13% | 0.27% | 4.32% | -0.31% |
Correlation
The correlation between OILD and EMTY is -0.02, meaning there was essentially no consistent relationship between their historical price movements. Each responded to its own set of market drivers.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | -0.02 |
Correlation (3Y) Balances recent behavior with more history. | 0.17 |
Correlation (All Time) Calculated using the full available price history since Nov 9, 2021 | 0.26 |
The correlation between OILD and EMTY shifts across timeframes, from -0.02 (1 year) to 0.26 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
OILD vs. EMTY — Risk / Return Rank
OILD
EMTY
OILD vs. EMTY - 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 Decline of the Retail Store ETF (EMTY). 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 | EMTY | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.02 | ||
| Sortino ratioReturn per unit of downside risk | -2.24 | ||
| Omega ratioGain probability vs. loss probability | 0.77 | 1.00 | -0.23 |
| Calmar ratioReturn relative to maximum drawdown | -0.95 | -0.13 | -0.82 |
| Martin ratioReturn relative to average drawdown | -1.42 | -0.29 | -1.13 |
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Drawdowns
OILD vs. EMTY - Drawdown Comparison
The maximum OILD drawdown since its inception was -98.90%, which is greater than EMTY's maximum drawdown of -77.62%. Use the drawdown chart below to compare losses from any high point for OILD and EMTY.
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Drawdown Indicators
| OILD | EMTY | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -98.90% | -77.62% | -21.28% |
Max Drawdown (1Y)Largest decline over 1 year | -74.53% | -13.91% | -60.62% |
Max Drawdown (3Y)Largest decline over 3 years | -85.42% | -30.83% | -54.59% |
Max Drawdown (5Y)Largest decline over 5 years | — | -30.83% | — |
Current DrawdownCurrent decline from peak | -98.80% | -76.30% | -22.50% |
Average DrawdownAverage peak-to-trough decline | -88.92% | -54.67% | -34.25% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 50.00% | 6.40% | +43.60% |
Volatility
OILD vs. EMTY - Volatility Comparison
MicroSectorsTM Oil & Gas Exploration & Production -3X Inverse Leveraged ETNs (OILD) has a higher volatility of 20.27% compared to ProShares Decline of the Retail Store ETF (EMTY) at 6.47%. This indicates that OILD's price experiences larger fluctuations and is considered to be riskier than EMTY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| OILD | EMTY | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 20.27% | 6.47% | +13.80% |
Volatility (6M)Calculated over the trailing 6-month period | 50.12% | 13.90% | +36.22% |
Volatility (1Y)Calculated over the trailing 1-year period | 63.36% | 18.48% | +44.88% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 79.04% | 22.46% | +56.58% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 79.04% | 25.60% | +53.44% |
OILD vs. EMTY - Expense Ratio Comparison
OILD has a 0.95% expense ratio, which is higher than EMTY's 0.66% expense ratio.
Dividends
OILD vs. EMTY - Dividend Comparison
OILD has not paid dividends to shareholders, while EMTY's dividend yield for the trailing twelve months is around 3.43%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
EMTY ProShares Decline of the Retail Store ETF | 3.43% | 3.83% | 6.00% | 4.41% | 0.65% | 0.00% | 0.07% | 0.82% | 0.62% | 0.03% |
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 EMTY have a correlation of -0.02, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
OILD has higher volatility (20.27%) compared to EMTY (6.47%). In terms of maximum drawdown, OILD dropped -98.90% vs EMTY's -77.62%.
On 3-year performance, EMTY leads with -4.50% vs -42.92% for OILD. On fees, EMTY is cheaper at 0.66% per year. On volatility, EMTY has been the lower-risk option at 6.47%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, EMTY has performed better with a -4.50% return vs -42.92%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
EMTY is cheaper with a 0.66% expense ratio, compared with 0.95% for OILD.
EMTY has the higher dividend yield at 3.43%, compared with 0.00% for OILD.
OILD tracks Solactive MicroSectors Oil & Gas Exploration & Production Index (-300%), while EMTY tracks Solactive-ProShares Bricks and Mortar Retail Store Index (-100%). They also come from different issuers: REX and ProShares. Their fees differ too: 0.95% for OILD and 0.66% for EMTY.
EMTY currently has the higher Sharpe Ratio (-0.10 vs -1.12), 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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