OILU vs. DZZ

Last updated Apr 2, 2026

Compare and contrast key facts about MicroSectors Oil & Gas Exploration & Production 3X Leveraged ETN (OILU) and DB Gold Double Short Exchange Traded Notes (DZZ).

OILU and DZZ are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. OILU is managed by BMO. It was launched on Mar 24, 2017. DZZ is a passively managed fund by Deutsche Bank that tracks the performance of the Deutsche Bank Liquid Commodity Index-Optimum Yield Gold (-200%). It was launched on Feb 27, 2008.

Performance

OILU vs. DZZ - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in MicroSectors Oil & Gas Exploration & Production 3X Leveraged ETN (OILU) and DB Gold Double Short Exchange Traded Notes (DZZ). The values are adjusted to include any dividend payments, if applicable.

OILU vs. DZZ - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
OILU MicroSectors Oil & Gas Exploration & Production 3X Leveraged ETN	112.51%	-16.50%	-21.65%	-32.50%	151.08%	-17.87%
DZZ DB Gold Double Short Exchange Traded Notes	-30.86%	132.78%	-35.06%	-8.14%	2.79%	1.32%

Returns By Period

In the year-to-date period, OILU achieves a 112.51% return, which is significantly higher than DZZ's -30.86% return.

OILU

• 1D: -10.60%
• 1M: 12.27%
• YTD: 112.51%
• 6M: 100.08%
• 1Y: 45.27%
• 3Y*: 7.13%
• 5Y*: —
• 10Y*: —

DZZ

• 1D: 0.95%
• 1M: 9.48%
• YTD: -30.86%
• 6M: 75.80%
• 1Y: 62.84%
• 3Y*: 3.68%
• 5Y*: -3.13%
• 10Y*: -8.56%

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

OILU vs. DZZ - Expense Ratio Comparison

OILU has a 0.95% expense ratio, which is higher than DZZ's 0.75% expense ratio.

OILU

MicroSectors Oil & Gas Exploration & Production 3X Leveraged ETN

DZZ

DB Gold Double Short Exchange Traded Notes

Return for Risk

OILU vs. DZZ — Risk / Return Rank

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

OILU

OILU Risk / Return Rank: 34
OILU Sharpe Ratio Rank: 30
OILU Sortino Ratio Rank: 40
OILU Omega Ratio Rank: 42
OILU Calmar Ratio Rank: 34
OILU Martin Ratio Rank: 23

DZZ

DZZ Risk / Return Rank: 47
DZZ Sharpe Ratio Rank: 22
DZZ Sortino Ratio Rank: 85
DZZ Omega Ratio Rank: 78
DZZ Calmar Ratio Rank: 31
DZZ Martin Ratio Rank: 21

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.

OILU vs. DZZ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for MicroSectors Oil & Gas Exploration & Production 3X Leveraged ETN (OILU) and DB Gold Double Short Exchange Traded Notes (DZZ). 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.

	OILU	DZZ	Difference
Sharpe ratio Return per unit of total volatility	0.59	0.38	+0.21
Sortino ratio Return per unit of downside risk	1.19	2.37	-1.17
Omega ratio Gain probability vs. loss probability	1.17	1.31	-0.13
Calmar ratio Return relative to maximum drawdown	0.91	0.84	+0.07
Martin ratio Return relative to average drawdown	1.54	1.44	+0.10
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

OILU vs. DZZ - Sharpe Ratio Comparison

The current OILU Sharpe Ratio is 0.59, which is higher than the DZZ Sharpe Ratio of 0.38. The chart below compares the historical Sharpe Ratios of OILU and DZZ, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	OILU	DZZ	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.59	0.38	+0.21
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	-0.04	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	-0.14	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.20	-0.21	+0.41

Correlation

The correlation between OILU and DZZ is -0.11. This indicates that the assets' prices tend to move in opposite directions. Negative correlation can be particularly beneficial for diversification and risk management, as one asset may offset the losses of the other during market fluctuations.

Dividends

OILU vs. DZZ - Dividend Comparison

Neither OILU nor DZZ has paid dividends to shareholders.

Tickers have no history of dividend payments

Drawdowns

OILU vs. DZZ - Drawdown Comparison

The maximum OILU drawdown since its inception was -81.00%, smaller than the maximum DZZ drawdown of -96.64%. Use the drawdown chart below to compare losses from any high point for OILU and DZZ.

Drawdown Indicators

	OILU	DZZ	Difference
Max Drawdown Largest peak-to-trough decline	-81.00%	-96.64%	+15.64%
Max Drawdown (1Y) Largest decline over 1 year	-52.04%	-74.95%	+22.91%
Max Drawdown (5Y) Largest decline over 5 years	—	-74.95%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-80.59%	—
Current Drawdown Current decline from peak	-42.85%	-93.53%	+50.68%
Average Drawdown Average peak-to-trough decline	-50.72%	-82.19%	+31.47%
Ulcer Index Depth and duration of drawdowns from previous peaks	30.74%	43.55%	-12.81%

Volatility

OILU vs. DZZ - Volatility Comparison

MicroSectors Oil & Gas Exploration & Production 3X Leveraged ETN (OILU) has a higher volatility of 19.90% compared to DB Gold Double Short Exchange Traded Notes (DZZ) at 15.37%. This indicates that OILU's price experiences larger fluctuations and is considered to be riskier than DZZ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	OILU	DZZ	Difference
Volatility (1M) Calculated over the trailing 1-month period	19.90%	15.37%	+4.53%
Volatility (6M) Calculated over the trailing 6-month period	43.84%	126.04%	-82.20%
Volatility (1Y) Calculated over the trailing 1-year period	77.03%	168.01%	-90.98%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	81.31%	82.52%	-1.21%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	81.31%	63.36%	+17.95%