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OILK vs. USOI
Performance
Return for Risk
Drawdowns
Volatility
Dividends

Performance

OILK vs. USOI - 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 Credit Suisse X-Links Crude Oil Shares Covered Call ETN (USOI). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, OILK achieves a 41.61% return, which is significantly higher than USOI's 28.21% return.


OILK

1D
-1.44%
1M
-12.86%
YTD
41.61%
6M
40.08%
1Y
20.72%
3Y*
14.14%
5Y*
13.20%
10Y*

USOI

1D
-1.37%
1M
-12.96%
YTD
28.21%
6M
27.76%
1Y
23.34%
3Y*
5Y*
10Y*
*Multi-year figures are annualized to reflect compound growth (CAGR)

OILK vs. USOI - Yearly Performance Comparison


Correlation

The correlation between OILK and USOI is 0.91, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.


Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

0.91

Correlation (All Time)
Calculated using the full available price history since Jun 3, 2024

0.92

The correlation between OILK and USOI has been stable across timeframes, ranging from 0.91 to 0.92 - a consistent structural relationship.

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Return for Risk

OILK vs. USOI — Risk / Return Rank

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

OILK
OILK Risk / Return Rank: 2222
Overall Rank
OILK Sharpe Ratio Rank: 2121
Sharpe Ratio Rank
OILK Sortino Ratio Rank: 2121
Sortino Ratio Rank
OILK Omega Ratio Rank: 2020
Omega Ratio Rank
OILK Calmar Ratio Rank: 2626
Calmar Ratio Rank
OILK Martin Ratio Rank: 2222
Martin Ratio Rank

USOI
USOI Risk / Return Rank: 2828
Overall Rank
USOI Sharpe Ratio Rank: 2828
Sharpe Ratio Rank
USOI Sortino Ratio Rank: 2727
Sortino Ratio Rank
USOI Omega Ratio Rank: 2727
Omega Ratio Rank
USOI Calmar Ratio Rank: 2828
Calmar Ratio Rank
USOI Martin Ratio Rank: 3030
Martin Ratio Rank
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. USOI - 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 Credit Suisse X-Links Crude Oil Shares Covered Call ETN (USOI). 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.


OILKUSOIDifference
Sharpe ratioReturn per unit of total volatility

-0.28

Sortino ratioReturn per unit of downside risk

-0.32

Omega ratioGain probability vs. loss probability

1.14

1.18

-0.04

Calmar ratioReturn relative to maximum drawdown

1.23

1.34

-0.11

Martin ratioReturn relative to average drawdown

2.67

4.11

-1.44

OILK vs. USOI - Sharpe Ratio Comparison

The current OILK Sharpe Ratio is 0.72, which is comparable to the USOI Sharpe Ratio of 1.00. The chart below compares the historical Sharpe Ratios of OILK and USOI, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.


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Drawdowns

OILK vs. USOI - Drawdown Comparison

The maximum OILK drawdown since its inception was -83.76%, which is greater than USOI's maximum drawdown of -19.49%. Use the drawdown chart below to compare losses from any high point for OILK and USOI.


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Drawdown Indicators


OILKUSOIDifference

Max Drawdown

Largest peak-to-trough decline

-83.76%

-19.49%

-64.27%

Max Drawdown (1Y)

Largest decline over 1 year

-16.92%

-17.45%

+0.53%

Max Drawdown (3Y)

Largest decline over 3 years

-23.42%

Max Drawdown (5Y)

Largest decline over 5 years

-34.69%

Current Drawdown

Current decline from peak

-16.92%

-17.45%

+0.53%

Average Drawdown

Average peak-to-trough decline

-32.48%

-7.30%

-25.18%

Ulcer Index

Depth and duration of drawdowns from previous peaks

8.89%

5.72%

+3.17%

Volatility

OILK vs. USOI - Volatility Comparison

The current volatility for ProShares K-1 Free Crude Oil Strategy ETF (OILK) is 8.06%, while Credit Suisse X-Links Crude Oil Shares Covered Call ETN (USOI) has a volatility of 9.07%. This indicates that OILK experiences smaller price fluctuations and is considered to be less risky than USOI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.


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Volatility by Period


OILKUSOIDifference

Volatility (1M)

Calculated over the trailing 1-month period

8.06%

9.07%

-1.01%

Volatility (6M)

Calculated over the trailing 6-month period

24.09%

19.21%

+4.88%

Volatility (1Y)

Calculated over the trailing 1-year period

29.05%

23.56%

+5.49%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

30.27%

23.01%

+7.26%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

35.97%

23.01%

+12.96%

OILK vs. USOI - Expense Ratio Comparison

OILK has a 0.68% expense ratio, which is lower than USOI's 0.85% expense ratio.


Dividends

OILK vs. USOI - Dividend Comparison

OILK's dividend yield for the trailing twelve months is around 9.48%, less than USOI's 46.72% yield.


PositionTTM202520242023202220212020201920182017
OILK
ProShares K-1 Free Crude Oil Strategy ETF
9.48%4.79%3.11%5.80%17.32%68.82%0.13%0.94%0.58%6.17%
USOI
Credit Suisse X-Links Crude Oil Shares Covered Call ETN
46.72%27.21%12.54%0.00%0.00%0.00%0.00%0.00%0.00%0.00%

Frequently Asked Questions


With a correlation of 0.91, OILK and USOI move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

USOI has higher volatility (9.07%) compared to OILK (8.06%). In terms of maximum drawdown, OILK dropped -83.76% vs USOI's -19.49%.

On 1-year performance, USOI leads with 23.34% vs 20.72% for OILK. On fees, OILK is cheaper at 0.68% per year. On volatility, OILK has been the lower-risk option at 8.06%. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 1-year period, USOI has performed better with a 23.34% return vs 20.72%. 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 0.85% for USOI.

USOI has the higher dividend yield at 46.72%, compared with 9.48% for OILK.

OILK tracks Bloomberg Commodity Balanced WTI Crude Oil Index, while USOI tracks Credit Suisse NASDAQ WTI Crude Oil FLOWS 106 Index. They also come from different issuers: ProShares and Credit Suisse. Their fees differ too: 0.68% for OILK and 0.85% for USOI.

USOI currently has the higher Sharpe Ratio (1.00 vs 0.72), 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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