OILK vs. SQQQ
OILK (ProShares K-1 Free Crude Oil ETF) and SQQQ (ProShares UltraPro Short QQQ) are both exchange-traded funds - OILK is a Oil & Gas fund tracking the Bloomberg Commodity Balanced WTI Crude Oil Index, while SQQQ is a Leveraged Equities fund tracking the NASDAQ-100 Index (-300%). Both are passively managed. Over the past 5 years, OILK returned 15.25%/yr vs -44.80%/yr for SQQQ. Their -0.12 correlation means they have often moved in opposite directions in the past. OILK charges 0.69%/yr vs 0.95%/yr for SQQQ.
Performance
OILK vs. SQQQ - Performance Comparison
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Returns By Period
In the year-to-date period, OILK achieves a 47.49% return, which is significantly higher than SQQQ's -38.05% 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%
SQQQ
- 1D
- -5.26%
- 1M
- 3.70%
- 6M
- -34.63%
- YTD
- -38.05%
- 1Y
- -54.82%
- 3Y*
- -52.10%
- 5Y*
- -44.80%
- 10Y*
- -54.51%
- ALL TIME*
- -52.82%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $8.74M | $7.86M | $10.67M | |
| $2.77B | $2.43B | $2.72B |
OILK vs. SQQQ - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
OILK ProShares K-1 Free Crude Oil ETF | 47.49% | -11.86% | 8.18% | -0.97% | 27.57% | 63.71% | -61.09% | 30.48% | -20.40% | 2.82% |
SQQQ ProShares UltraPro Short QQQ | -38.05% | -53.05% | -49.79% | -73.61% | 82.40% | -60.87% | -86.40% | -65.92% | -20.83% | -58.67% |
Correlation
The correlation between OILK and SQQQ is 0.21, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.21 |
Correlation (3Y) Balances recent behavior with more history. | 0.04 |
Correlation (5Y) Shows whether the relationship held over a longer period. | -0.04 |
Correlation (All Time) Calculated using the full available price history since Sep 28, 2016 | -0.12 |
The correlation between OILK and SQQQ shifts across timeframes, from -0.12 (all time) to 0.21 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
OILK vs. SQQQ — Risk / Return Rank
OILK
SQQQ
OILK vs. SQQQ - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ProShares K-1 Free Crude Oil ETF (OILK) and ProShares UltraPro Short QQQ (SQQQ). 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 | SQQQ | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +2.07 | ||
| Sortino ratioReturn per unit of downside risk | +3.13 | ||
| Omega ratioGain probability vs. loss probability | 1.20 | 0.84 | +0.36 |
| Calmar ratioReturn relative to maximum drawdown | 1.59 | -0.92 | +2.52 |
| Martin ratioReturn relative to average drawdown | 4.49 | -1.65 | +6.14 |
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Drawdowns
OILK vs. SQQQ - Drawdown Comparison
The maximum OILK drawdown since its inception was -83.76%, smaller than the maximum SQQQ drawdown of -100.00%. Use the drawdown chart below to compare losses from any high point for OILK and SQQQ.
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Drawdown Indicators
| OILK | SQQQ | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -83.76% | -100.00% | +16.24% |
Max Drawdown (1Y)Largest decline over 1 year | -21.19% | -59.62% | +38.43% |
Max Drawdown (3Y)Largest decline over 3 years | -23.42% | -92.51% | +69.09% |
Max Drawdown (5Y)Largest decline over 5 years | -34.69% | -97.27% | +62.58% |
Max Drawdown (10Y)Largest decline over 10 years | — | -99.97% | — |
Current DrawdownCurrent decline from peak | -13.47% | -100.00% | +86.53% |
Average DrawdownAverage peak-to-trough decline | -32.27% | -92.78% | +60.51% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 7.52% | 35.25% | -27.73% |
Volatility
OILK vs. SQQQ - Volatility Comparison
The current volatility for ProShares K-1 Free Crude Oil ETF (OILK) is 11.95%, while ProShares UltraPro Short QQQ (SQQQ) has a volatility of 21.07%. This indicates that OILK experiences smaller price fluctuations and is considered to be less risky than SQQQ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| OILK | SQQQ | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 11.95% | 21.07% | -9.12% |
Volatility (6M)Calculated over the trailing 6-month period | 26.22% | 48.20% | -21.98% |
Volatility (1Y)Calculated over the trailing 1-year period | 30.24% | 57.95% | -27.71% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 30.48% | 68.24% | -37.76% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 36.00% | 66.78% | -30.78% |
OILK vs. SQQQ - Expense Ratio Comparison
OILK has a 0.69% expense ratio, which is lower than SQQQ's 0.95% expense ratio.
Dividends
OILK vs. SQQQ - Dividend Comparison
OILK's dividend yield for the trailing twelve months is around 11.51%, more than SQQQ's 9.64% yield.
| 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% |
SQQQ ProShares UltraPro Short QQQ | 9.64% | 9.36% | 10.23% | 8.01% | 0.28% | 0.00% | 2.15% | 2.92% | 1.47% | 0.14% |
Frequently Asked Questions
OILK and SQQQ have a correlation of 0.21, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
SQQQ has higher volatility (21.07%) compared to OILK (11.95%). In terms of maximum drawdown, OILK dropped -83.76% vs SQQQ's -100.00%.
On 5-year performance, OILK leads with 15.25% vs -44.80% for SQQQ. 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 5-year period, OILK has performed better with a 15.25% return vs -44.80%. 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 SQQQ.
OILK has the higher dividend yield at 11.51%, compared with 9.64% for SQQQ.
OILK is categorized as Oil & Gas, while SQQQ is Leveraged Equities. OILK tracks Bloomberg Commodity Balanced WTI Crude Oil Index, while SQQQ tracks NASDAQ-100 Index (-300%). Their fees differ too: 0.69% for OILK and 0.95% for SQQQ.
OILK currently has the higher Sharpe Ratio (1.12 vs -0.95), 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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