OILK vs. TQQQ

Last updated Jun 4, 2026

OILK (ProShares K-1 Free Crude Oil Strategy ETF) and TQQQ (ProShares UltraPro QQQ) are both exchange-traded funds - OILK is a Oil & Gas fund tracking the Bloomberg Commodity Balanced WTI Crude Oil Index, while TQQQ is a Leveraged Equities fund tracking the NASDAQ-100 Index (300%). Both are passively managed. Over the past 5 years, OILK returned 17.73%/yr vs 28.37%/yr for TQQQ. At a 0.12 correlation, their price movements are largely independent. OILK charges 0.68%/yr vs 0.95%/yr for TQQQ.

Performance

OILK vs. TQQQ - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ProShares K-1 Free Crude Oil Strategy ETF (OILK) and ProShares UltraPro QQQ (TQQQ). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both investments are quite close, with OILK having a 64.22% return and TQQQ slightly higher at 64.46%.

OILK

• 1D: 1.40%
• 1M: -1.65%
• YTD: 64.22%
• 6M: 60.70%
• 1Y: 58.99%
• 3Y*: 19.03%
• 5Y*: 17.73%
• 10Y*: —

TQQQ

• 1D: -0.76%
• 1M: 33.35%
• YTD: 64.46%
• 6M: 55.93%
• 1Y: 137.89%
• 3Y*: 69.49%
• 5Y*: 28.37%
• 10Y*: 45.33%

*Multi-year figures are annualized to reflect compound growth (CAGR)

OILK vs. TQQQ - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
OILK ProShares K-1 Free Crude Oil Strategy ETF	64.22%	-11.86%	8.18%	-0.97%	27.57%	63.71%	-61.09%	30.48%	-20.40%	2.82%
TQQQ ProShares UltraPro QQQ	64.46%	34.35%	58.27%	198.04%	-79.09%	82.98%	110.05%	133.84%	-19.79%	118.06%

Correlation

The correlation between OILK and TQQQ is -0.27, 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	-0.27
Correlation (3Y) Calculated over the trailing 3-year period	-0.04
Correlation (5Y) Calculated over the trailing 5-year period	0.04
Correlation (All Time) Calculated using the full available price history since Sep 29, 2016	0.12

The correlation between OILK and TQQQ shifts across timeframes, from -0.27 (1 year) to 0.12 (all time), reflecting how their relationship changes across market environments.

OILK vs. TQQQ - Sectors Allocation Comparison

Sectors	OILK	TQQQ
Consumer Cyclical	100.0%	12.3%
Basic Materials	-	1.1%
Communication Services	-	15.8%
Consumer Defensive	-	7.7%
Energy	-	0.6%
Financial Services	-	0.2%
Healthcare	-	4.2%
Industrials	-	2.8%
Real Estate	-	0.1%
Technology	-	53.8%
Utilities	-	1.4%

Return for Risk

OILK vs. TQQQ — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

OILK

OILK Risk / Return Rank: 55
OILK Sharpe Ratio Rank: 60
OILK Sortino Ratio Rank: 53
OILK Omega Ratio Rank: 54
OILK Calmar Ratio Rank: 68
OILK Martin Ratio Rank: 42

TQQQ

TQQQ Risk / Return Rank: 71
TQQQ Sharpe Ratio Rank: 86
TQQQ Sortino Ratio Rank: 65
TQQQ Omega Ratio Rank: 65
TQQQ Calmar Ratio Rank: 73
TQQQ Martin Ratio Rank: 66

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

OILK vs. TQQQ - 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 QQQ (TQQQ). 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	TQQQ	Difference
Sharpe ratio: Return per unit of total volatility	2.06	2.92	-0.85
Sortino ratio: Return per unit of downside risk	2.59	3.09	-0.50
Omega ratio: Gain probability vs. loss probability	1.34	1.40	-0.06
Calmar ratio: Return relative to maximum drawdown	3.42	3.75	-0.34
Martin ratio: Return relative to average drawdown	6.91	12.27	-5.36
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

OILK vs. TQQQ - Sharpe Ratio Comparison

The current OILK Sharpe Ratio is 2.06, which is comparable to the TQQQ Sharpe Ratio of 2.92. The chart below compares the historical Sharpe Ratios of OILK and TQQQ, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	OILK	TQQQ	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.06	2.92	-0.85
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.59	0.43	+0.16
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.69	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.12	0.74	-0.62

Drawdowns

OILK vs. TQQQ - Drawdown Comparison

The maximum OILK drawdown since its inception was -83.76%, roughly equal to the maximum TQQQ drawdown of -81.66%. Use the drawdown chart below to compare losses from any high point for OILK and TQQQ.

Drawdown Indicators

	OILK	TQQQ	Difference
Max Drawdown Largest peak-to-trough decline	-83.76%	-81.66%	-2.10%
Max Drawdown (1Y) Largest decline over 1 year	-17.35%	-36.97%	+19.62%
Max Drawdown (3Y) Largest decline over 3 years	-23.42%	-58.04%	+34.62%
Max Drawdown (5Y) Largest decline over 5 years	-34.69%	-81.66%	+46.97%
Max Drawdown (10Y) Largest decline over 10 years	—	-81.66%	—
Current Drawdown Current decline from peak	-3.66%	-0.76%	-2.90%
Average Drawdown Average peak-to-trough decline	-32.61%	-18.52%	-14.09%
Ulcer Index Depth and duration of drawdowns from previous peaks	8.56%	11.28%	-2.72%

Volatility

OILK vs. TQQQ - Volatility Comparison

The current volatility for ProShares K-1 Free Crude Oil Strategy ETF (OILK) is 10.44%, while ProShares UltraPro QQQ (TQQQ) has a volatility of 13.29%. This indicates that OILK experiences smaller price fluctuations and is considered to be less risky than TQQQ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	OILK	TQQQ	Difference
Volatility (1M) Calculated over the trailing 1-month period	10.44%	13.29%	-2.85%
Volatility (6M) Calculated over the trailing 6-month period	23.26%	36.04%	-12.78%
Volatility (1Y) Calculated over the trailing 1-year period	28.75%	47.60%	-18.85%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	30.12%	66.53%	-36.41%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	35.97%	65.96%	-29.99%

OILK vs. TQQQ - Expense Ratio Comparison

OILK has a 0.68% expense ratio, which is lower than TQQQ's 0.95% expense ratio.

Dividends

OILK vs. TQQQ - Dividend Comparison

OILK's dividend yield for the trailing twelve months is around 8.18%, more than TQQQ's 0.36% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
OILK ProShares K-1 Free Crude Oil Strategy ETF	8.18%	4.79%	3.11%	5.80%	17.32%	68.82%	0.13%	0.94%	0.58%	6.17%	0.00%	0.00%
TQQQ ProShares UltraPro QQQ	0.36%	0.65%	1.27%	1.26%	0.57%	0.00%	0.00%	0.06%	0.11%	0.00%	0.00%	0.01%

Frequently Asked Questions

Can I hold both OILK and TQQQ in my portfolio?

OILK and TQQQ have a correlation of -0.27, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, OILK or TQQQ?

TQQQ has higher volatility (13.29%) compared to OILK (10.44%). In terms of maximum drawdown, OILK dropped -83.76% vs TQQQ's -81.66%.

Which ETF is better, OILK or TQQQ?

On 5-year performance, TQQQ leads with 28.37% vs 17.73% for OILK. On fees, OILK is cheaper at 0.68% per year. On volatility, OILK has been the lower-risk option at 10.44%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, OILK or TQQQ?

Over the 5-year period, TQQQ has performed better with a 28.37% return vs 17.73%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, OILK or TQQQ?

OILK is cheaper with a 0.68% expense ratio, compared with 0.95% for TQQQ.

Which ETF pays a higher dividend yield, OILK or TQQQ?

OILK has the higher dividend yield at 8.18%, compared with 0.36% for TQQQ.

What is the main difference between OILK and TQQQ?

OILK is categorized as Oil & Gas, while TQQQ is Leveraged Equities. OILK tracks Bloomberg Commodity Balanced WTI Crude Oil Index, while TQQQ tracks NASDAQ-100 Index (300%). Their fees differ too: 0.68% for OILK and 0.95% for TQQQ.

Which has better risk-adjusted returns?

TQQQ currently has the higher Sharpe Ratio (2.92 vs 2.06), 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.