OILK vs. SQQQ
OILK (ProShares K-1 Free Crude Oil Strategy 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 13.00%/yr vs -46.89%/yr for SQQQ. At a correlation of -0.12, they often move in opposite directions. OILK charges 0.68%/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 40.78% return, which is significantly higher than SQQQ's -40.31% return.
OILK
- 1D
- -0.59%
- 1M
- -13.38%
- YTD
- 40.78%
- 6M
- 38.63%
- 1Y
- 27.24%
- 3Y*
- 13.91%
- 5Y*
- 13.00%
- 10Y*
- —
SQQQ
- 1D
- 9.83%
- 1M
- -2.27%
- YTD
- -40.31%
- 6M
- -37.80%
- 1Y
- -61.11%
- 3Y*
- -53.86%
- 5Y*
- -46.89%
- 10Y*
- -56.24%
OILK vs. SQQQ - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
OILK ProShares K-1 Free Crude Oil Strategy ETF | 40.78% | -11.86% | 8.18% | -0.97% | 27.57% | 63.71% | -61.09% | 30.48% | -20.40% | 2.82% |
SQQQ ProShares UltraPro Short QQQ | -40.31% | -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 price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.21 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.02 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.05 |
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 Strategy 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 | +2.11 | ||
| Sortino ratioReturn per unit of downside risk | +3.50 | ||
| Omega ratioGain probability vs. loss probability | 1.18 | 0.78 | +0.40 |
| Calmar ratioReturn relative to maximum drawdown | 1.57 | -0.96 | +2.54 |
| Martin ratioReturn relative to average drawdown | 3.49 | -1.81 | +5.30 |
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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 | -17.41% | -63.52% | +46.11% |
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 | — | -99.98% | — |
Current DrawdownCurrent decline from peak | -17.41% | -100.00% | +82.59% |
Average DrawdownAverage peak-to-trough decline | -32.48% | -92.73% | +60.25% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 7.86% | 36.37% | -28.51% |
Volatility
OILK vs. SQQQ - Volatility Comparison
The current volatility for ProShares K-1 Free Crude Oil Strategy ETF (OILK) is 8.02%, while ProShares UltraPro Short QQQ (SQQQ) has a volatility of 26.69%. 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 | 8.02% | 26.69% | -18.67% |
Volatility (6M)Calculated over the trailing 6-month period | 24.07% | 43.33% | -19.26% |
Volatility (1Y)Calculated over the trailing 1-year period | 29.00% | 53.65% | -24.65% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 30.27% | 67.53% | -37.26% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 35.96% | 66.47% | -30.51% |
OILK vs. SQQQ - Expense Ratio Comparison
OILK has a 0.68% 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 9.54%, less than SQQQ's 11.44% 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% |
SQQQ ProShares UltraPro Short QQQ | 11.44% | 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 (26.69%) compared to OILK (8.02%). In terms of maximum drawdown, OILK dropped -83.76% vs SQQQ's -100.00%.
On 5-year performance, OILK leads with 13.00% vs -46.89% for SQQQ. On fees, OILK is cheaper at 0.68% per year. On volatility, OILK has been the lower-risk option at 8.02%. 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 -46.89%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
OILK is cheaper with a 0.68% expense ratio, compared with 0.95% for SQQQ.
SQQQ has the higher dividend yield at 11.44%, compared with 9.54% for OILK.
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: 0.68% for OILK and 0.95% for SQQQ.
OILK currently has the higher Sharpe Ratio (0.96 vs -1.14), 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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