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 -48.14%/yr vs -4.69%/yr for EMTY. At a 0.28 correlation, their price movements are largely independent. 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 -61.30% return, which is significantly lower than EMTY's 1.09% return.
OILD
- 1D
- -3.52%
- 1M
- 4.33%
- YTD
- -61.30%
- 6M
- -58.58%
- 1Y
- -72.54%
- 3Y*
- -48.14%
- 5Y*
- —
- 10Y*
- —
EMTY
- 1D
- -0.32%
- 1M
- 1.81%
- YTD
- 1.09%
- 6M
- 3.80%
- 1Y
- 1.60%
- 3Y*
- -4.69%
- 5Y*
- -2.87%
- 10Y*
- —
OILD vs. EMTY - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
OILD MicroSectorsTM Oil & Gas Exploration & Production -3X Inverse Leveraged ETNs | -61.30% | -41.67% | -14.58% | -19.58% | -90.32% | 5.20% |
EMTY ProShares Decline of the Retail Store ETF | 1.09% | -1.76% | -4.13% | 0.27% | 4.32% | 0.71% |
Correlation
The correlation between OILD and EMTY is 0.03, 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 | 0.03 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.23 |
Correlation (All Time) Calculated using the full available price history since Nov 10, 2021 | 0.28 |
Over the past year, the correlation between OILD and EMTY has dropped to 0.03 - well below their long-term average of 0.28, suggesting their price drivers have been diverging.
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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.
| OILD | EMTY | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.28 | ||
| Sortino ratioReturn per unit of downside risk | -2.70 | ||
| Omega ratioGain probability vs. loss probability | 0.75 | 1.03 | -0.28 |
| Calmar ratioReturn relative to maximum drawdown | -0.94 | 0.11 | -1.05 |
| Martin ratioReturn relative to average drawdown | -1.56 | 0.20 | -1.75 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| OILD | EMTY | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -1.19 | 0.09 | -1.28 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | -0.13 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | -0.75 | -0.43 | -0.33 |
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 | -77.40% | -14.00% | -63.40% |
Max Drawdown (3Y)Largest decline over 3 years | -88.53% | -30.83% | -57.70% |
Max Drawdown (5Y)Largest decline over 5 years | — | -30.83% | — |
Current DrawdownCurrent decline from peak | -98.74% | -74.77% | -23.97% |
Average DrawdownAverage peak-to-trough decline | -88.64% | -54.01% | -34.63% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 46.59% | 8.11% | +38.48% |
Volatility
OILD vs. EMTY - Volatility Comparison
MicroSectorsTM Oil & Gas Exploration & Production -3X Inverse Leveraged ETNs (OILD) has a higher volatility of 24.24% compared to ProShares Decline of the Retail Store ETF (EMTY) at 6.00%. 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 | 24.24% | 6.00% | +18.24% |
Volatility (6M)Calculated over the trailing 6-month period | 48.55% | 12.40% | +36.15% |
Volatility (1Y)Calculated over the trailing 1-year period | 61.12% | 17.71% | +43.41% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 79.39% | 22.36% | +57.03% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 79.39% | 25.67% | +53.72% |
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 3.45%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
EMTY ProShares Decline of the Retail Store ETF | 3.45% | 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 0.03, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
OILD has higher volatility (24.24%) compared to EMTY (6.00%). In terms of maximum drawdown, OILD dropped -98.90% vs EMTY's -77.62%.
On 3-year performance, EMTY leads with -4.69% vs -48.14% for OILD. On fees, EMTY is cheaper at 0.66% per year. On volatility, EMTY has been the lower-risk option at 6.00%. 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 -4.69% return vs -48.14%. 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 3.45%, 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 (0.09 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.
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