OILK vs. USL
Compare and contrast key facts about ProShares K-1 Free Crude Oil Strategy ETF (OILK) and United States 12 Month Oil Fund LP (USL).
OILK and USL are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. OILK is a passively managed fund by ProShares that tracks the performance of the Bloomberg Commodity Balanced WTI Crude Oil Index. It was launched on Sep 26, 2016. USL is a passively managed fund by Concierge Technologies that tracks the performance of the 12 Month Light Sweet Crude Oil. It was launched on Dec 6, 2007. Both OILK and USL are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.
Performance
OILK vs. USL - Performance Comparison
Loading graphics...
OILK vs. USL - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
OILK ProShares K-1 Free Crude Oil Strategy ETF | 46.13% | -11.86% | 8.18% | -0.97% | 27.57% | 63.71% | -61.09% | 30.48% | -20.40% | 2.82% |
USL United States 12 Month Oil Fund LP | 44.67% | -12.37% | 8.30% | -1.11% | 27.10% | 62.48% | -25.23% | 28.01% | -14.15% | 2.55% |
Returns By Period
The year-to-date returns for both stocks are quite close, with OILK having a 46.13% return and USL slightly lower at 44.67%.
OILK
- 1D
- -4.10%
- 1M
- 25.62%
- YTD
- 46.13%
- 6M
- 36.81%
- 1Y
- 28.65%
- 3Y*
- 13.30%
- 5Y*
- 17.74%
- 10Y*
- —
USL
- 1D
- -4.21%
- 1M
- 25.68%
- YTD
- 44.67%
- 6M
- 35.39%
- 1Y
- 26.16%
- 3Y*
- 12.64%
- 5Y*
- 17.35%
- 10Y*
- 11.83%
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
OILK vs. USL - Expense Ratio Comparison
OILK has a 0.68% expense ratio, which is lower than USL's 0.88% expense ratio.
Return for Risk
OILK vs. USL — Risk / Return Rank
OILK
USL
OILK vs. USL - 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 United States 12 Month Oil Fund LP (USL). 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 | USL | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 1.00 | 0.92 | +0.08 |
Sortino ratioReturn per unit of downside risk | 1.45 | 1.37 | +0.08 |
Omega ratioGain probability vs. loss probability | 1.19 | 1.17 | +0.01 |
Calmar ratioReturn relative to maximum drawdown | 1.86 | 1.72 | +0.13 |
Martin ratioReturn relative to average drawdown | 3.27 | 3.06 | +0.21 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
Loading graphics...
Sharpe Ratios by Period
| OILK | USL | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.00 | 0.92 | +0.08 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.60 | 0.59 | +0.01 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.37 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.08 | -0.01 | +0.09 |
Correlation
The correlation between OILK and USL is 0.97, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.
Dividends
OILK vs. USL - Dividend Comparison
OILK's dividend yield for the trailing twelve months is around 2.67%, while USL has not paid dividends to shareholders.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
OILK ProShares K-1 Free Crude Oil Strategy ETF | 2.67% | 4.79% | 3.11% | 5.80% | 17.32% | 68.82% | 0.13% | 0.94% | 0.58% | 6.17% |
USL United States 12 Month Oil Fund LP | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Drawdowns
OILK vs. USL - Drawdown Comparison
The maximum OILK drawdown since its inception was -83.76%, smaller than the maximum USL drawdown of -89.06%. Use the drawdown chart below to compare losses from any high point for OILK and USL.
Loading graphics...
Drawdown Indicators
| OILK | USL | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -83.76% | -89.06% | +5.30% |
Max Drawdown (1Y)Largest decline over 1 year | -17.35% | -17.26% | -0.09% |
Max Drawdown (5Y)Largest decline over 5 years | -34.69% | -33.82% | -0.87% |
Max Drawdown (10Y)Largest decline over 10 years | — | -66.02% | — |
Current DrawdownCurrent decline from peak | -12.04% | -45.13% | +33.09% |
Average DrawdownAverage peak-to-trough decline | -33.09% | -61.65% | +28.56% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 9.86% | 9.70% | +0.16% |
Volatility
OILK vs. USL - Volatility Comparison
ProShares K-1 Free Crude Oil Strategy ETF (OILK) and United States 12 Month Oil Fund LP (USL) have volatilities of 12.23% and 12.82%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
Loading graphics...
Volatility by Period
| OILK | USL | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 12.23% | 12.82% | -0.59% |
Volatility (6M)Calculated over the trailing 6-month period | 20.23% | 20.34% | -0.11% |
Volatility (1Y)Calculated over the trailing 1-year period | 29.05% | 28.76% | +0.29% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 29.85% | 29.77% | +0.08% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 35.99% | 32.24% | +3.75% |