OILT vs. GOLDX

Last updated Jun 23, 2026

OILT (Texas Capital Texas Oil Index ETF) and GOLDX (Gabelli Gold Fund) are both funds - OILT is a Energy Equities fund tracking the Alerian Texas Weighted Oil and Gas Index - Benchmark TR Gross, while GOLDX is a Gold fund actively managed by Gabelli. OILT is passively managed, while GOLDX is actively managed. Over the past year, OILT returned 23.29% vs 63.61% for GOLDX. At a 0.07 correlation, their price movements are largely independent. OILT charges 0.35%/yr vs 1.51%/yr for GOLDX.

Performance

OILT vs. GOLDX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Texas Capital Texas Oil Index ETF (OILT) and Gabelli Gold Fund (GOLDX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, OILT achieves a 23.24% return, which is significantly higher than GOLDX's -3.36% return.

OILT

• 1D: 1.90%
• 1M: -9.61%
• YTD: 23.24%
• 6M: 24.93%
• 1Y: 23.29%
• 3Y*: —
• 5Y*: —
• 10Y*: —

GOLDX

• 1D: -2.44%
• 1M: -2.25%
• YTD: -3.36%
• 6M: -7.81%
• 1Y: 63.61%
• 3Y*: 43.75%
• 5Y*: 21.92%
• 10Y*: 13.51%

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

OILT vs. GOLDX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
OILT Texas Capital Texas Oil Index ETF	23.24%	-3.30%	0.87%	0.13%
GOLDX Gabelli Gold Fund	-3.36%	165.59%	14.92%	0.55%

Correlation

The correlation between OILT and GOLDX is -0.07, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	-0.07
Correlation (All Time) Calculated using the full available price history since Dec 21, 2023	0.07

The correlation between OILT and GOLDX shifts across timeframes, from -0.07 (1 year) to 0.07 (all time), reflecting how their relationship changes across market environments.

Return for Risk

OILT vs. GOLDX — Risk / Return Rank

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

OILT

OILT Risk / Return Rank: 25
OILT Sharpe Ratio Rank: 24
OILT Sortino Ratio Rank: 23
OILT Omega Ratio Rank: 22
OILT Calmar Ratio Rank: 27
OILT Martin Ratio Rank: 28

GOLDX

GOLDX Risk / Return Rank: 23
GOLDX Sharpe Ratio Rank: 27
GOLDX Sortino Ratio Rank: 21
GOLDX Omega Ratio Rank: 27
GOLDX Calmar Ratio Rank: 23
GOLDX Martin Ratio Rank: 19

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.

OILT vs. GOLDX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Texas Capital Texas Oil Index ETF (OILT) and Gabelli Gold Fund (GOLDX). 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.

	OILT	GOLDX	Difference
Sharpe ratio: Return per unit of total volatility	0.83	1.39	-0.56
Sortino ratio: Return per unit of downside risk	1.26	1.79	-0.53
Omega ratio: Gain probability vs. loss probability	1.15	1.25	-0.10
Calmar ratio: Return relative to maximum drawdown	1.27	1.65	-0.37
Martin ratio: Return relative to average drawdown	3.75	4.55	-0.80

OILT vs. GOLDX - Sharpe Ratio Comparison

The current OILT Sharpe Ratio is 0.83, which is lower than the GOLDX Sharpe Ratio of 1.39. The chart below compares the historical Sharpe Ratios of OILT and GOLDX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

OILT vs. GOLDX - Drawdown Comparison

The maximum OILT drawdown since its inception was -35.21%, smaller than the maximum GOLDX drawdown of -73.40%. Use the drawdown chart below to compare losses from any high point for OILT and GOLDX.

Drawdown Indicators

	OILT	GOLDX	Difference
Max Drawdown Largest peak-to-trough decline	-35.21%	-73.40%	+38.19%
Max Drawdown (1Y) Largest decline over 1 year	-18.38%	-37.54%	+19.16%
Max Drawdown (3Y) Largest decline over 3 years	—	-37.54%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-44.73%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-49.42%	—
Current Drawdown Current decline from peak	-16.83%	-29.18%	+12.35%
Average Drawdown Average peak-to-trough decline	-12.92%	-34.49%	+21.57%
Ulcer Index Depth and duration of drawdowns from previous peaks	6.34%	13.57%	-7.23%

Volatility

OILT vs. GOLDX - Volatility Comparison

The current volatility for Texas Capital Texas Oil Index ETF (OILT) is 8.93%, while Gabelli Gold Fund (GOLDX) has a volatility of 16.96%. This indicates that OILT experiences smaller price fluctuations and is considered to be less risky than GOLDX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	OILT	GOLDX	Difference
Volatility (1M) Calculated over the trailing 1-month period	8.93%	16.96%	-8.03%
Volatility (6M) Calculated over the trailing 6-month period	21.49%	38.12%	-16.63%
Volatility (1Y) Calculated over the trailing 1-year period	28.33%	44.61%	-16.28%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	28.79%	33.07%	-4.28%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	28.79%	32.39%	-3.60%

OILT vs. GOLDX - Expense Ratio Comparison

OILT has a 0.35% expense ratio, which is lower than GOLDX's 1.51% expense ratio.

Dividends

OILT vs. GOLDX - Dividend Comparison

OILT's dividend yield for the trailing twelve months is around 2.67%, less than GOLDX's 16.11% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
GOLDX Gabelli Gold Fund	16.11%	15.57%	2.11%	1.13%	0.00%	0.00%	1.69%	0.83%	0.34%	0.51%	2.18%
OILT Texas Capital Texas Oil Index ETF	2.67%	3.12%	2.63%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both OILT and GOLDX in my portfolio?

OILT and GOLDX have a correlation of -0.07, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, OILT or GOLDX?

GOLDX has higher volatility (16.96%) compared to OILT (8.93%). In terms of maximum drawdown, OILT dropped -35.21% vs GOLDX's -73.40%.

Which has better risk-adjusted returns?

GOLDX currently has the higher Sharpe Ratio (1.39 vs 0.83), 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.