OILD vs. SVIX
OILD (MicroSectorsTM Oil & Gas Exploration & Production -3X Inverse Leveraged ETNs) and SVIX (-1x Short VIX Futures ETF) are both exchange-traded funds - OILD is a Inverse Equities fund tracking the Solactive MicroSectors Oil & Gas Exploration & Production Index (-300%), while SVIX is a Volatility fund tracking the Short VIX Futures Index. Both are passively managed. Over the past 3 years, OILD returned -42.92%/yr vs -2.82%/yr for SVIX. Their -0.24 correlation means they have often moved in opposite directions in the past. OILD charges 0.95%/yr vs 1.47%/yr for SVIX.
Performance
OILD vs. SVIX - 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 SVIX's 0.29% 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%
SVIX
- 1D
- -0.29%
- 1M
- 2.27%
- 6M
- 6.39%
- YTD
- 0.29%
- 1Y
- 43.11%
- 3Y*
- -2.82%
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 11.94%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $2.68M | $2.54M | $3.73M | |
| $63.36M | $58.73M | $62.64M |
OILD vs. SVIX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
OILD MicroSectorsTM Oil & Gas Exploration & Production -3X Inverse Leveraged ETNs | -62.98% | -41.67% | -14.58% | -19.58% | -66.56% |
SVIX -1x Short VIX Futures ETF | 0.29% | -4.49% | -32.76% | 157.37% | -1.48% |
Correlation
The correlation between OILD and SVIX is 0.09, 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. | 0.09 |
Correlation (3Y) Balances recent behavior with more history. | -0.13 |
Correlation (All Time) Calculated using the full available price history since Mar 30, 2022 | -0.24 |
The correlation between OILD and SVIX shifts across timeframes, from -0.24 (all time) to 0.09 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
OILD vs. SVIX — Risk / Return Rank
OILD
SVIX
OILD vs. SVIX - 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 -1x Short VIX Futures ETF (SVIX). 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 | SVIX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.90 | ||
| Sortino ratioReturn per unit of downside risk | -3.55 | ||
| Omega ratioGain probability vs. loss probability | 0.77 | 1.17 | -0.40 |
| Calmar ratioReturn relative to maximum drawdown | -0.95 | 1.01 | -1.97 |
| Martin ratioReturn relative to average drawdown | -1.42 | 2.88 | -4.30 |
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Drawdowns
OILD vs. SVIX - Drawdown Comparison
The maximum OILD drawdown since its inception was -98.90%, which is greater than SVIX's maximum drawdown of -79.30%. Use the drawdown chart below to compare losses from any high point for OILD and SVIX.
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Drawdown Indicators
| OILD | SVIX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -98.90% | -79.30% | -19.60% |
Max Drawdown (1Y)Largest decline over 1 year | -74.53% | -42.69% | -31.84% |
Max Drawdown (3Y)Largest decline over 3 years | -85.42% | -79.30% | -6.12% |
Current DrawdownCurrent decline from peak | -98.80% | -52.10% | -46.70% |
Average DrawdownAverage peak-to-trough decline | -88.92% | -32.44% | -56.48% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 50.00% | 15.03% | +34.97% |
Volatility
OILD vs. SVIX - Volatility Comparison
MicroSectorsTM Oil & Gas Exploration & Production -3X Inverse Leveraged ETNs (OILD) has a higher volatility of 20.27% compared to -1x Short VIX Futures ETF (SVIX) at 14.02%. This indicates that OILD's price experiences larger fluctuations and is considered to be riskier than SVIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| OILD | SVIX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 20.27% | 14.02% | +6.25% |
Volatility (6M)Calculated over the trailing 6-month period | 50.12% | 42.65% | +7.47% |
Volatility (1Y)Calculated over the trailing 1-year period | 63.36% | 55.85% | +7.51% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 79.04% | 65.75% | +13.29% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 79.04% | 65.75% | +13.29% |
OILD vs. SVIX - Expense Ratio Comparison
OILD has a 0.95% expense ratio, which is lower than SVIX's 1.47% expense ratio.
Dividends
OILD vs. SVIX - Dividend Comparison
Neither OILD nor SVIX has paid dividends to shareholders.
Frequently Asked Questions
OILD and SVIX have a correlation of 0.09, 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 SVIX (14.02%). In terms of maximum drawdown, OILD dropped -98.90% vs SVIX's -79.30%.
On 3-year performance, SVIX leads with -2.82% vs -42.92% for OILD. On fees, OILD is cheaper at 0.95% per year. On volatility, SVIX has been the lower-risk option at 14.02%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, SVIX has performed better with a -2.82% return vs -42.92%. 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 1.47% for SVIX.
OILD and SVIX have nearly identical dividend yields, around 0.00%.
OILD is categorized as Inverse Equities, while SVIX is Volatility. OILD tracks Solactive MicroSectors Oil & Gas Exploration & Production Index (-300%), while SVIX tracks Short VIX Futures Index. They also come from different issuers: REX and Volatility Shares. Their fees differ too: 0.95% for OILD and 1.47% for SVIX.
SVIX currently has the higher Sharpe Ratio (0.78 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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