OILK vs. DBO
Compare and contrast key facts about ProShares K-1 Free Crude Oil Strategy ETF (OILK) and Invesco DB Oil Fund (DBO).
OILK and DBO are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. OILK is a passively managed fund by ProShares that tracks the performance of the Bloomberg Commodity Balanced WTI Crude Oil Index. It was launched on Sep 26, 2016. DBO is a passively managed fund by Invesco that tracks the performance of the DBIQ Optimum Yield Crude Oil Index Excess Return. It was launched on Jan 5, 2007. Both OILK and DBO are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.
Performance
OILK vs. DBO - Performance Comparison
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OILK vs. DBO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
OILK ProShares K-1 Free Crude Oil Strategy ETF | 46.13% | -11.86% | 8.18% | -0.97% | 27.57% | 63.71% | -61.09% | 30.48% | -20.40% | 2.82% |
DBO Invesco DB Oil Fund | 61.23% | -11.71% | 7.85% | -4.44% | 13.04% | 60.74% | -20.99% | 28.05% | -15.22% | 4.86% |
Returns By Period
In the year-to-date period, OILK achieves a 46.13% return, which is significantly lower than DBO's 61.23% return.
OILK
- 1D
- -4.10%
- 1M
- 25.62%
- YTD
- 46.13%
- 6M
- 36.81%
- 1Y
- 28.65%
- 3Y*
- 13.30%
- 5Y*
- 17.74%
- 10Y*
- —
DBO
- 1D
- -5.52%
- 1M
- 36.22%
- YTD
- 61.23%
- 6M
- 51.46%
- 1Y
- 42.16%
- 3Y*
- 15.27%
- 5Y*
- 15.55%
- 10Y*
- 11.99%
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OILK vs. DBO - Expense Ratio Comparison
OILK has a 0.68% expense ratio, which is lower than DBO's 0.78% expense ratio.
Return for Risk
OILK vs. DBO — Risk / Return Rank
OILK
DBO
OILK vs. DBO - 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 Invesco DB Oil Fund (DBO). 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.
| OILK | DBO | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 1.00 | 1.18 | -0.19 |
Sortino ratioReturn per unit of downside risk | 1.45 | 1.77 | -0.32 |
Omega ratioGain probability vs. loss probability | 1.19 | 1.22 | -0.04 |
Calmar ratioReturn relative to maximum drawdown | 1.86 | 2.52 | -0.66 |
Martin ratioReturn relative to average drawdown | 3.27 | 4.52 | -1.25 |
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
| OILK | DBO | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.00 | 1.18 | -0.19 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.60 | 0.49 | +0.10 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.38 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.08 | -0.00 | +0.08 |
Correlation
The correlation between OILK and DBO is 0.95, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.
Dividends
OILK vs. DBO - Dividend Comparison
OILK's dividend yield for the trailing twelve months is around 2.67%, more than DBO's 2.18% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
OILK ProShares K-1 Free Crude Oil Strategy ETF | 2.67% | 4.79% | 3.11% | 5.80% | 17.32% | 68.82% | 0.13% | 0.94% | 0.58% | 6.17% |
DBO Invesco DB Oil Fund | 2.18% | 3.51% | 4.68% | 4.59% | 0.66% | 0.00% | 0.00% | 1.63% | 1.58% | 0.00% |
Drawdowns
OILK vs. DBO - Drawdown Comparison
The maximum OILK drawdown since its inception was -83.76%, smaller than the maximum DBO drawdown of -90.18%. Use the drawdown chart below to compare losses from any high point for OILK and DBO.
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Drawdown Indicators
| OILK | DBO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -83.76% | -90.18% | +6.42% |
Max Drawdown (1Y)Largest decline over 1 year | -17.35% | -18.19% | +0.84% |
Max Drawdown (5Y)Largest decline over 5 years | -34.69% | -37.68% | +2.99% |
Max Drawdown (10Y)Largest decline over 10 years | — | -61.69% | — |
Current DrawdownCurrent decline from peak | -12.04% | -57.57% | +45.53% |
Average DrawdownAverage peak-to-trough decline | -33.09% | -62.32% | +29.23% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 9.86% | 10.15% | -0.29% |
Volatility
OILK vs. DBO - Volatility Comparison
The current volatility for ProShares K-1 Free Crude Oil Strategy ETF (OILK) is 12.23%, while Invesco DB Oil Fund (DBO) has a volatility of 15.71%. This indicates that OILK experiences smaller price fluctuations and is considered to be less risky than DBO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| OILK | DBO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 12.23% | 15.71% | -3.48% |
Volatility (6M)Calculated over the trailing 6-month period | 20.23% | 25.15% | -4.92% |
Volatility (1Y)Calculated over the trailing 1-year period | 29.05% | 35.96% | -6.91% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 29.85% | 31.74% | -1.89% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 35.99% | 31.52% | +4.47% |