OILT vs. IEO

Last updated Jun 4, 2026

OILT (Texas Capital Texas Oil Index ETF) and IEO (iShares U.S. Oil & Gas Exploration & Production ETF) are both Energy Equities funds - OILT tracks the Alerian Texas Weighted Oil and Gas Index - Benchmark TR Gross while IEO tracks the Dow Jones U.S. Select Oil Exploration & Production Index. Both are passively managed. Over the past year, OILT returned 47.26% vs 40.11% for IEO. Their correlation of 0.94 suggests significant overlap in exposure. OILT charges 0.35%/yr vs 0.42%/yr for IEO.

Performance

OILT vs. IEO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Texas Capital Texas Oil Index ETF (OILT) and iShares U.S. Oil & Gas Exploration & Production ETF (IEO). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both stocks are quite close, with OILT having a 35.33% return and IEO slightly lower at 34.59%.

OILT

• 1D: 1.74%
• 1M: -4.77%
• YTD: 35.33%
• 6M: 29.79%
• 1Y: 47.26%
• 3Y*: —
• 5Y*: —
• 10Y*: —

IEO

• 1D: 1.66%
• 1M: -3.23%
• YTD: 34.59%
• 6M: 26.42%
• 1Y: 40.11%
• 3Y*: 16.01%
• 5Y*: 18.96%
• 10Y*: 10.42%

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

OILT vs. IEO - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
OILT Texas Capital Texas Oil Index ETF	35.33%	-3.30%	0.87%	-0.16%
IEO iShares U.S. Oil & Gas Exploration & Production ETF	34.59%	2.15%	-1.45%	-1.07%

Correlation

The correlation between OILT and IEO is 0.95, 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	0.95
Correlation (All Time) Calculated using the full available price history since Dec 22, 2023	0.94

The correlation between OILT and IEO has been stable across timeframes, ranging from 0.94 to 0.95 - a consistent structural relationship.

OILT vs. IEO - Sectors Allocation Comparison

Sectors	OILT	IEO
Energy	94.2%	99.3%
Utilities	5.8%	-
Basic Materials	-	0.7%
Communication Services	-	-
Consumer Cyclical	-	-
Consumer Defensive	-	-
Financial Services	-	-
Healthcare	-	-
Industrials	-	-
Real Estate	-	-
Technology	-	-

Return for Risk

OILT vs. IEO — Risk / Return Rank

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

OILT

OILT Risk / Return Rank: 51
OILT Sharpe Ratio Rank: 49
OILT Sortino Ratio Rank: 45
OILT Omega Ratio Rank: 42
OILT Calmar Ratio Rank: 70
OILT Martin Ratio Rank: 50

IEO

IEO Risk / Return Rank: 45
IEO Sharpe Ratio Rank: 45
IEO Sortino Ratio Rank: 41
IEO Omega Ratio Rank: 40
IEO Calmar Ratio Rank: 56
IEO Martin Ratio Rank: 45

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. IEO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Texas Capital Texas Oil Index ETF (OILT) and iShares U.S. Oil & Gas Exploration & Production ETF (IEO). 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.

	OILT	IEO	Difference
Sharpe ratio: Return per unit of total volatility	1.70	1.61	+0.09
Sortino ratio: Return per unit of downside risk	2.25	2.12	+0.13
Omega ratio: Gain probability vs. loss probability	1.27	1.26	+0.01
Calmar ratio: Return relative to maximum drawdown	3.44	2.82	+0.62
Martin ratio: Return relative to average drawdown	8.37	7.63	+0.75
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

OILT vs. IEO - Sharpe Ratio Comparison

The current OILT Sharpe Ratio is 1.70, which is comparable to the IEO Sharpe Ratio of 1.61. The chart below compares the historical Sharpe Ratios of OILT and IEO, 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

	OILT	IEO	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.70	1.61	+0.09
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.62	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.30	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.42	0.17	+0.25

Drawdowns

OILT vs. IEO - Drawdown Comparison

The maximum OILT drawdown since its inception was -35.21%, smaller than the maximum IEO drawdown of -79.17%. Use the drawdown chart below to compare losses from any high point for OILT and IEO.

Drawdown Indicators

	OILT	IEO	Difference
Max Drawdown Largest peak-to-trough decline	-35.21%	-79.17%	+43.96%
Max Drawdown (1Y) Largest decline over 1 year	-13.79%	-14.30%	+0.51%
Max Drawdown (3Y) Largest decline over 3 years	—	-31.46%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-31.46%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-75.00%	—
Current Drawdown Current decline from peak	-8.67%	-7.30%	-1.37%
Average Drawdown Average peak-to-trough decline	-12.93%	-26.27%	+13.34%
Ulcer Index Depth and duration of drawdowns from previous peaks	5.66%	5.28%	+0.38%

Volatility

OILT vs. IEO - Volatility Comparison

Texas Capital Texas Oil Index ETF (OILT) has a higher volatility of 9.94% compared to iShares U.S. Oil & Gas Exploration & Production ETF (IEO) at 9.32%. This indicates that OILT's price experiences larger fluctuations and is considered to be riskier than IEO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	OILT	IEO	Difference
Volatility (1M) Calculated over the trailing 1-month period	9.94%	9.32%	+0.62%
Volatility (6M) Calculated over the trailing 6-month period	21.13%	19.86%	+1.27%
Volatility (1Y) Calculated over the trailing 1-year period	28.09%	25.15%	+2.94%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	28.72%	30.54%	-1.82%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	28.72%	35.00%	-6.28%

OILT vs. IEO - Expense Ratio Comparison

OILT has a 0.35% expense ratio, which is lower than IEO's 0.42% expense ratio.

Dividends

OILT vs. IEO - Dividend Comparison

OILT's dividend yield for the trailing twelve months is around 2.43%, more than IEO's 1.97% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
IEO iShares U.S. Oil & Gas Exploration & Production ETF	1.97%	2.61%	2.63%	3.00%	3.77%	2.62%	3.17%	1.85%	1.67%	0.94%	0.98%	2.03%
OILT Texas Capital Texas Oil Index ETF	2.43%	3.12%	2.63%	0.00%	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 IEO in my portfolio?

With a correlation of 0.95, OILT and IEO 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.

Which is riskier, OILT or IEO?

OILT has higher volatility (9.94%) compared to IEO (9.32%). In terms of maximum drawdown, OILT dropped -35.21% vs IEO's -79.17%.

Which ETF is better, OILT or IEO?

On 1-year performance, OILT leads with 47.26% vs 40.11% for IEO. On fees, OILT is cheaper at 0.35% per year. On volatility, IEO has been the lower-risk option at 9.32%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, OILT or IEO?

Over the 1-year period, OILT has performed better with a 47.26% return vs 40.11%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, OILT or IEO?

OILT is cheaper with a 0.35% expense ratio, compared with 0.42% for IEO.

Which ETF pays a higher dividend yield, OILT or IEO?

OILT has the higher dividend yield at 2.43%, compared with 1.97% for IEO.

What is the main difference between OILT and IEO?

OILT tracks Alerian Texas Weighted Oil and Gas Index - Benchmark TR Gross, while IEO tracks Dow Jones U.S. Select Oil Exploration & Production Index. They also come from different issuers: Texas Capital and iShares. Their fees differ too: 0.35% for OILT and 0.42% for IEO.

Which has better risk-adjusted returns?

OILT currently has the higher Sharpe Ratio (1.70 vs 1.61), 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.