OILK vs. OILU
OILK (ProShares K-1 Free Crude Oil ETF) and OILU (MicroSectors Oil & Gas Exploration & Production 3X Leveraged ETN) are both exchange-traded funds - OILK is a Oil & Gas fund tracking the Bloomberg Commodity Balanced WTI Crude Oil Index, while OILU is a Leveraged Equities fund tracking the Solactive MicroSectors Oil & Gas Exploration & Production Index. Both are passively managed. Over the past 3 years, OILK returned 9.71%/yr vs 0.08%/yr for OILU. Their 0.65 correlation means they have sometimes moved together and sometimes differently. OILK charges 0.69%/yr vs 0.95%/yr for OILU.
Performance
OILK vs. OILU - Performance Comparison
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Returns By Period
In the year-to-date period, OILK achieves a 47.49% return, which is significantly lower than OILU's 87.02% return.
OILK
- 1D
- -3.24%
- 1M
- 8.88%
- 6M
- 37.83%
- YTD
- 47.49%
- 1Y
- 33.62%
- 3Y*
- 9.71%
- 5Y*
- 15.25%
- 10Y*
- —
- ALL TIME*
- 3.29%
OILU
- 1D
- -4.14%
- 1M
- 32.93%
- 6M
- 40.98%
- YTD
- 87.02%
- 1Y
- 99.31%
- 3Y*
- 0.08%
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 12.22%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $8.74M | $7.86M | $10.67M | |
| $8.15M | $7.77M | $7.91M |
OILK vs. OILU - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
OILK ProShares K-1 Free Crude Oil ETF | 47.49% | -11.86% | 8.18% | -0.97% | 27.57% | -4.01% |
OILU MicroSectors Oil & Gas Exploration & Production 3X Leveraged ETN | 87.02% | -16.50% | -21.65% | -32.50% | 151.08% | -16.79% |
Correlation
The correlation between OILK and OILU is 0.67, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.67 |
Correlation (3Y) Balances recent behavior with more history. | 0.64 |
Correlation (All Time) Calculated using the full available price history since Nov 9, 2021 | 0.65 |
The correlation between OILK and OILU has been stable across timeframes, ranging from 0.64 to 0.67 - a consistent structural relationship.
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Return for Risk
OILK vs. OILU — Risk / Return Rank
OILK
OILU
OILK vs. OILU - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ProShares K-1 Free Crude Oil ETF (OILK) and MicroSectors Oil & Gas Exploration & Production 3X Leveraged ETN (OILU). 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 | OILU | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.44 | ||
| Sortino ratioReturn per unit of downside risk | -0.38 | ||
| Omega ratioGain probability vs. loss probability | 1.20 | 1.25 | -0.05 |
| Calmar ratioReturn relative to maximum drawdown | 1.59 | 2.15 | -0.55 |
| Martin ratioReturn relative to average drawdown | 4.49 | 5.28 | -0.79 |
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Drawdowns
OILK vs. OILU - Drawdown Comparison
The maximum OILK drawdown since its inception was -83.76%, roughly equal to the maximum OILU drawdown of -81.00%. Use the drawdown chart below to compare losses from any high point for OILK and OILU.
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Drawdown Indicators
| OILK | OILU | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -83.76% | -81.00% | -2.76% |
Max Drawdown (1Y)Largest decline over 1 year | -21.19% | -46.49% | +25.30% |
Max Drawdown (3Y)Largest decline over 3 years | -23.42% | -69.09% | +45.67% |
Max Drawdown (5Y)Largest decline over 5 years | -34.69% | — | — |
Current DrawdownCurrent decline from peak | -13.47% | -49.70% | +36.23% |
Average DrawdownAverage peak-to-trough decline | -32.27% | -50.69% | +18.42% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 7.52% | 18.87% | -11.35% |
Volatility
OILK vs. OILU - Volatility Comparison
The current volatility for ProShares K-1 Free Crude Oil ETF (OILK) is 11.95%, while MicroSectors Oil & Gas Exploration & Production 3X Leveraged ETN (OILU) has a volatility of 20.09%. This indicates that OILK experiences smaller price fluctuations and is considered to be less risky than OILU based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| OILK | OILU | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 11.95% | 20.09% | -8.14% |
Volatility (6M)Calculated over the trailing 6-month period | 26.22% | 52.12% | -25.90% |
Volatility (1Y)Calculated over the trailing 1-year period | 30.24% | 64.31% | -34.07% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 30.48% | 80.79% | -50.31% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 36.00% | 80.79% | -44.79% |
OILK vs. OILU - Expense Ratio Comparison
OILK has a 0.69% expense ratio, which is lower than OILU's 0.95% expense ratio.
Dividends
OILK vs. OILU - Dividend Comparison
OILK's dividend yield for the trailing twelve months is around 11.51%, while OILU has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
OILK ProShares K-1 Free Crude Oil ETF | 11.51% | 4.79% | 3.11% | 5.80% | 17.32% | 68.82% | 0.13% | 0.94% | 0.58% | 6.17% |
OILU MicroSectors Oil & Gas Exploration & Production 3X Leveraged ETN | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
OILK and OILU have a correlation of 0.67, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
OILU has higher volatility (20.09%) compared to OILK (11.95%). In terms of maximum drawdown, OILK dropped -83.76% vs OILU's -81.00%.
On 3-year performance, OILK leads with 9.71% vs 0.08% for OILU. On fees, OILK is cheaper at 0.69% per year. On volatility, OILK has been the lower-risk option at 11.95%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, OILK has performed better with a 9.71% return vs 0.08%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
OILK is cheaper with a 0.69% expense ratio, compared with 0.95% for OILU.
OILK has the higher dividend yield at 11.51%, compared with 0.00% for OILU.
OILK is categorized as Oil & Gas, while OILU is Leveraged Equities. OILK tracks Bloomberg Commodity Balanced WTI Crude Oil Index, while OILU tracks Solactive MicroSectors Oil & Gas Exploration & Production Index. They also come from different issuers: ProShares and BMO. Their fees differ too: 0.69% for OILK and 0.95% for OILU.
OILU currently has the higher Sharpe Ratio (1.56 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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