OILD vs. SEF

Last updated Aug 5, 2026

OILD (MicroSectorsTM Oil & Gas Exploration & Production -3X Inverse Leveraged ETNs) and SEF (ProShares Short Financials) are both Inverse Equities funds - OILD tracks the Solactive MicroSectors Oil & Gas Exploration & Production Index (-300%) while SEF tracks the Dow Jones U.S. Financials Index (-100%). Both are passively managed. Over the past 3 years, OILD returned -42.92%/yr vs -12.42%/yr for SEF. Their 0.35 correlation means their historical movements had little consistent relationship. Both charge a 0.95% expense ratio.

Performance

OILD vs. SEF - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in MicroSectorsTM Oil & Gas Exploration & Production -3X Inverse Leveraged ETNs (OILD) and ProShares Short Financials (SEF). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, OILD achieves a -62.98% return, which is significantly lower than SEF's -3.89% 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%

SEF

• 1D: -0.94%
• 1M: -3.65%
• 6M: -6.45%
• YTD: -3.89%
• 1Y: -7.65%
• 3Y*: -12.42%
• 5Y*: -7.52%
• 10Y*: -12.30%
• ALL TIME*: -13.94%

*Multi-year figures are annualized to reflect compound growth (CAGR)

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
OILD MicroSectorsTM Oil & Gas Exploration & Production -3X Inverse Leveraged ETNs	$2.68M	$2.54M	$3.73M
SEF ProShares Short Financials	$338.68K	$224.47K	$237.83K

OILD vs. SEF - 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%
SEF ProShares Short Financials	-3.89%	-9.82%	-17.81%	-8.81%	11.85%	-0.13%

Correlation

The correlation between OILD and SEF is -0.04, 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.	-0.04
Correlation (3Y) Balances recent behavior with more history.	0.24
Correlation (All Time) Calculated using the full available price history since Nov 9, 2021	0.35

The correlation between OILD and SEF shifts across timeframes, from -0.04 (1 year) to 0.35 (all time), reflecting how their relationship changes across market environments.

OILD vs. SEF - Sectors Allocation Comparison

Sectors	OILD	SEF
Energy	100.0%	-
Basic Materials	-	-
Communication Services	-	-
Consumer Cyclical	-	-
Consumer Defensive	-	-
Financial Services	-	75.3%
Healthcare	-	-
Industrials	-	-
Real Estate	-	-
Technology	-	-
Utilities	-	-

Return for Risk

OILD vs. SEF — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

OILD

OILD Risk / Return Rank: 1
OILD Sharpe Ratio Rank: 1
OILD Sortino Ratio Rank: 0
OILD Omega Ratio Rank: 1
OILD Calmar Ratio Rank: 1
OILD Martin Ratio Rank: 1

SEF

SEF Risk / Return Rank: 4
SEF Sharpe Ratio Rank: 5
SEF Sortino Ratio Rank: 4
SEF Omega Ratio Rank: 4
SEF Calmar Ratio Rank: 5
SEF Martin Ratio Rank: 3

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

OILD vs. SEF - 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 Financials (SEF). 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	SEF	Difference
Sharpe ratio: Return per unit of total volatility	-1.12	-0.53	-0.59
Sortino ratio: Return per unit of downside risk	-2.25	-0.69	-1.56
Omega ratio: Gain probability vs. loss probability	0.77	0.92	-0.15
Calmar ratio: Return relative to maximum drawdown	-0.95	-0.47	-0.49
Martin ratio: Return relative to average drawdown	-1.42	-1.17	-0.25

OILD vs. SEF - Sharpe Ratio Comparison

The current OILD Sharpe Ratio is -1.12, which is lower than the SEF Sharpe Ratio of -0.53. The chart below compares the historical Sharpe Ratios of OILD and SEF, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

OILD vs. SEF - Drawdown Comparison

The maximum OILD drawdown since its inception was -98.90%, roughly equal to the maximum SEF drawdown of -96.55%. Use the drawdown chart below to compare losses from any high point for OILD and SEF.

Drawdown Indicators

	OILD	SEF	Difference
Max Drawdown Largest peak-to-trough decline	-98.90%	-96.55%	-2.35%
Max Drawdown (1Y) Largest decline over 1 year	-74.53%	-16.39%	-58.14%
Max Drawdown (3Y) Largest decline over 3 years	-85.42%	-40.06%	-45.36%
Max Drawdown (5Y) Largest decline over 5 years	—	-42.26%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-73.36%	—
Current Drawdown Current decline from peak	-98.80%	-96.55%	-2.25%
Average Drawdown Average peak-to-trough decline	-88.92%	-82.82%	-6.10%
Ulcer Index Depth and duration of drawdowns from previous peaks	50.00%	6.56%	+43.44%

Volatility

OILD vs. SEF - Volatility Comparison

MicroSectorsTM Oil & Gas Exploration & Production -3X Inverse Leveraged ETNs (OILD) has a higher volatility of 20.27% compared to ProShares Short Financials (SEF) at 3.82%. This indicates that OILD's price experiences larger fluctuations and is considered to be riskier than SEF based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	OILD	SEF	Difference
Volatility (1M) Calculated over the trailing 1-month period	20.27%	3.82%	+16.45%
Volatility (6M) Calculated over the trailing 6-month period	50.12%	11.03%	+39.09%
Volatility (1Y) Calculated over the trailing 1-year period	63.36%	14.55%	+48.81%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	79.04%	17.92%	+61.12%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	79.04%	20.46%	+58.58%

OILD vs. SEF - Expense Ratio Comparison

Both OILD and SEF have an expense ratio of 0.95%.

Dividends

OILD vs. SEF - Dividend Comparison

OILD has not paid dividends to shareholders, while SEF's dividend yield for the trailing twelve months is around 3.49%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018
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%
SEF ProShares Short Financials	3.49%	4.33%	5.72%	4.43%	0.39%	0.00%	0.12%	1.25%	0.41%

Frequently Asked Questions

Can I hold both OILD and SEF in my portfolio?

OILD and SEF 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.

Which is riskier, OILD or SEF?

OILD has higher volatility (20.27%) compared to SEF (3.82%). In terms of maximum drawdown, OILD dropped -98.90% vs SEF's -96.55%.

Which ETF is better, OILD or SEF?

On 3-year performance, SEF leads with -12.42% vs -42.92% for OILD. Both ETFs have the same 0.95% expense ratio. On volatility, SEF has been the lower-risk option at 3.82%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, OILD or SEF?

Over the 3-year period, SEF has performed better with a -12.42% return vs -42.92%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, OILD or SEF?

OILD and SEF have the same expense ratio: 0.95% per year.

Which ETF pays a higher dividend yield, OILD or SEF?

SEF has the higher dividend yield at 3.49%, compared with 0.00% for OILD.

What is the main difference between OILD and SEF?

OILD tracks Solactive MicroSectors Oil & Gas Exploration & Production Index (-300%), while SEF tracks Dow Jones U.S. Financials Index (-100%). They also come from different issuers: REX and ProShares.

Which has better risk-adjusted returns?

SEF currently has the higher Sharpe Ratio (-0.53 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.