OILK vs. RYLD
OILK (ProShares K-1 Free Crude Oil Strategy ETF) and RYLD (Global X Russell 2000 Covered Call ETF) are both exchange-traded funds - OILK is a Oil & Gas fund tracking the Bloomberg Commodity Balanced WTI Crude Oil Index, while RYLD is a Derivative Income fund tracking the CBOE Russell 2000 BuyWrite Index. Both are passively managed. Over the past 5 years, OILK returned 13.00%/yr vs 2.45%/yr for RYLD. At a 0.18 correlation, their price movements are largely independent. OILK charges 0.68%/yr vs 0.60%/yr for RYLD.
Performance
OILK vs. RYLD - Performance Comparison
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Returns By Period
In the year-to-date period, OILK achieves a 40.78% return, which is significantly higher than RYLD's 9.51% return.
OILK
- 1D
- -0.59%
- 1M
- -13.38%
- YTD
- 40.78%
- 6M
- 38.63%
- 1Y
- 27.24%
- 3Y*
- 13.91%
- 5Y*
- 13.00%
- 10Y*
- —
RYLD
- 1D
- -0.50%
- 1M
- 2.12%
- YTD
- 9.51%
- 6M
- 8.37%
- 1Y
- 20.74%
- 3Y*
- 8.72%
- 5Y*
- 2.45%
- 10Y*
- —
OILK vs. RYLD - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
OILK ProShares K-1 Free Crude Oil Strategy ETF | 40.78% | -11.86% | 8.18% | -0.97% | 27.57% | 63.71% | -61.09% | -4.35% |
RYLD Global X Russell 2000 Covered Call ETF | 9.51% | 5.65% | 10.13% | 0.27% | -13.03% | 22.13% | -0.44% | 8.86% |
Correlation
The correlation between OILK and RYLD is -0.18, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.18 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.02 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.13 |
Correlation (All Time) Calculated using the full available price history since Apr 22, 2019 | 0.18 |
The correlation between OILK and RYLD shifts across timeframes, from -0.18 (1 year) to 0.18 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
OILK vs. RYLD — Risk / Return Rank
OILK
RYLD
OILK vs. RYLD - 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 Global X Russell 2000 Covered Call ETF (RYLD). 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 | RYLD | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.99 | ||
| Sortino ratioReturn per unit of downside risk | -1.34 | ||
| Omega ratioGain probability vs. loss probability | 1.18 | 1.41 | -0.23 |
| Calmar ratioReturn relative to maximum drawdown | 1.57 | 3.31 | -1.74 |
| Martin ratioReturn relative to average drawdown | 3.49 | 13.37 | -9.88 |
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Drawdowns
OILK vs. RYLD - Drawdown Comparison
The maximum OILK drawdown since its inception was -83.76%, which is greater than RYLD's maximum drawdown of -41.53%. Use the drawdown chart below to compare losses from any high point for OILK and RYLD.
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Drawdown Indicators
| OILK | RYLD | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -83.76% | -41.53% | -42.23% |
Max Drawdown (1Y)Largest decline over 1 year | -17.41% | -6.29% | -11.12% |
Max Drawdown (3Y)Largest decline over 3 years | -23.42% | -19.05% | -4.37% |
Max Drawdown (5Y)Largest decline over 5 years | -34.69% | -21.33% | -13.36% |
Current DrawdownCurrent decline from peak | -17.41% | -0.50% | -16.91% |
Average DrawdownAverage peak-to-trough decline | -32.48% | -8.78% | -23.70% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 7.86% | 1.55% | +6.31% |
Volatility
OILK vs. RYLD - Volatility Comparison
ProShares K-1 Free Crude Oil Strategy ETF (OILK) has a higher volatility of 8.02% compared to Global X Russell 2000 Covered Call ETF (RYLD) at 2.00%. This indicates that OILK's price experiences larger fluctuations and is considered to be riskier than RYLD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| OILK | RYLD | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 8.02% | 2.00% | +6.02% |
Volatility (6M)Calculated over the trailing 6-month period | 24.07% | 7.80% | +16.27% |
Volatility (1Y)Calculated over the trailing 1-year period | 29.00% | 10.66% | +18.34% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 30.27% | 14.05% | +16.22% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 35.96% | 17.15% | +18.81% |
OILK vs. RYLD - Expense Ratio Comparison
OILK has a 0.68% expense ratio, which is higher than RYLD's 0.60% expense ratio.
Dividends
OILK vs. RYLD - Dividend Comparison
OILK's dividend yield for the trailing twelve months is around 9.54%, less than RYLD's 11.73% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
OILK ProShares K-1 Free Crude Oil Strategy ETF | 9.54% | 4.79% | 3.11% | 5.80% | 17.32% | 68.82% | 0.13% | 0.94% | 0.58% | 6.17% |
RYLD Global X Russell 2000 Covered Call ETF | 11.73% | 12.00% | 12.03% | 12.64% | 13.49% | 12.35% | 10.76% | 6.43% | 0.00% | 0.00% |
Frequently Asked Questions
OILK and RYLD have a correlation of -0.18, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
OILK has higher volatility (8.02%) compared to RYLD (2.00%). In terms of maximum drawdown, OILK dropped -83.76% vs RYLD's -41.53%.
On 5-year performance, OILK leads with 13.00% vs 2.45% for RYLD. On fees, RYLD is cheaper at 0.60% per year. On volatility, RYLD has been the lower-risk option at 2.00%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, OILK has performed better with a 13.00% return vs 2.45%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
RYLD is cheaper with a 0.60% expense ratio, compared with 0.68% for OILK.
RYLD has the higher dividend yield at 11.73%, compared with 9.54% for OILK.
OILK is categorized as Oil & Gas, while RYLD is Derivative Income. OILK tracks Bloomberg Commodity Balanced WTI Crude Oil Index, while RYLD tracks CBOE Russell 2000 BuyWrite Index. They also come from different issuers: ProShares and Global X. Their fees differ too: 0.68% for OILK and 0.60% for RYLD.
RYLD currently has the higher Sharpe Ratio (1.96 vs 0.96), 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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