OILK vs. CL=F

Last updated Jun 24, 2026

OILK (ProShares K-1 Free Crude Oil Strategy ETF) is Oil & Gas fund tracking the Bloomberg Commodity Balanced WTI Crude Oil Index, while CL=F (Crude Oil WTI) is an asset. At a 0.22 correlation, their price movements are largely independent.

Performance

OILK vs. CL=F - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ProShares K-1 Free Crude Oil Strategy ETF (OILK) and Crude Oil WTI (CL=F). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

OILK

• 1D: -0.59%
• 1M: -13.38%
• YTD: 40.78%
• 6M: 38.63%
• 1Y: 27.24%
• 3Y*: 13.91%
• 5Y*: 13.00%
• 10Y*: —

CL=F

• 1D: —
• 1M: —
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

OILK vs. CL=F - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
OILK ProShares K-1 Free Crude Oil Strategy ETF	40.78%	-11.86%	8.18%	-0.97%	12.88%
CL=F Crude Oil WTI	0.00%	0.00%	0.00%	0.00%	18.11%

Correlation

The correlation between OILK and CL=F is 0.22, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (All Time) Calculated using the full available price history since Jan 31, 2022	0.22

Return for Risk

OILK vs. CL=F — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

OILK

OILK Risk / Return Rank: 28
OILK Sharpe Ratio Rank: 28
OILK Sortino Ratio Rank: 27
OILK Omega Ratio Rank: 27
OILK Calmar Ratio Rank: 33
OILK Martin Ratio Rank: 27

CL=F

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

OILK vs. CL=F - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ProShares K-1 Free Crude Oil Strategy ETF (OILK) and Crude Oil WTI (CL=F). 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.

	OILK	CL=F	Difference
Sharpe ratio: Return per unit of total volatility	0.96	—	—
Sortino ratio: Return per unit of downside risk	1.42	—	—
Omega ratio: Gain probability vs. loss probability	1.18	—	—
Calmar ratio: Return relative to maximum drawdown	1.57	—	—
Martin ratio: Return relative to average drawdown	3.49	—	—

Drawdowns

Drawdown Indicators

	OILK	CL=F	Difference
Max Drawdown Largest peak-to-trough decline	-83.76%	—	—
Max Drawdown (1Y) Largest decline over 1 year	-17.41%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-23.42%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-34.69%	—	—
Current Drawdown Current decline from peak	-17.41%	—	—
Average Drawdown Average peak-to-trough decline	-32.48%	—	—
Ulcer Index Depth and duration of drawdowns from previous peaks	7.86%	—	—

Volatility

Volatility by Period

	OILK	CL=F	Difference
Volatility (1M) Calculated over the trailing 1-month period	8.02%	—	—
Volatility (6M) Calculated over the trailing 6-month period	24.07%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	29.00%	—	—
Volatility (5Y) Calculated over the trailing 5-year period, annualized	30.27%	—	—
Volatility (10Y) Calculated over the trailing 10-year period, annualized	35.96%	—	—

Frequently Asked Questions

Can I hold both OILK and CL=F in my portfolio?

OILK and CL=F have a correlation of 0.22, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.