OILU vs. LQDW
OILU (MicroSectors Oil & Gas Exploration & Production 3X Leveraged ETN) and LQDW (iShares Investment Grade Corporate Bond Buywrite Strategy ETF) are both exchange-traded funds - OILU is a Leveraged Commodities fund managed by BMO, while LQDW is a Corporate Bonds fund tracking the CBOE LQD BuyWrite Index. Over the past 3 years, OILU returned 3.44%/yr vs 3.21%/yr for LQDW. At a 0.02 correlation, their price movements are largely independent. OILU charges 0.95%/yr vs 0.34%/yr for LQDW.
Performance
OILU vs. LQDW - Performance Comparison
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Returns By Period
In the year-to-date period, OILU achieves a 76.86% return, which is significantly higher than LQDW's 1.30% return.
OILU
- 1D
- 3.98%
- 1M
- 14.83%
- 6M
- 51.58%
- YTD
- 76.86%
- 1Y
- 78.88%
- 3Y*
- 3.44%
- 5Y*
- —
- 10Y*
- —
LQDW
- 1D
- 0.00%
- 1M
- -0.48%
- 6M
- 0.95%
- YTD
- 1.30%
- 1Y
- 5.09%
- 3Y*
- 3.21%
- 5Y*
- —
- 10Y*
- —
OILU vs. LQDW - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
OILU MicroSectors Oil & Gas Exploration & Production 3X Leveraged ETN | 76.86% | -16.50% | -21.65% | -32.50% | 1.72% |
LQDW iShares Investment Grade Corporate Bond Buywrite Strategy ETF | 1.30% | 9.05% | 2.60% | 3.99% | -6.78% |
Correlation
The correlation between OILU and LQDW is -0.30, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.30 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.05 |
Correlation (All Time) Calculated using the full available price history since Aug 22, 2022 | 0.02 |
The correlation between OILU and LQDW shifts across timeframes, from -0.30 (1 year) to 0.02 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
OILU vs. LQDW — Risk / Return Rank
OILU
LQDW
OILU vs. LQDW - 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 iShares Investment Grade Corporate Bond Buywrite Strategy ETF (LQDW). 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.
| OILU | LQDW | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.14 | ||
| Sortino ratioReturn per unit of downside risk | -0.17 | ||
| Omega ratioGain probability vs. loss probability | 1.21 | 1.27 | -0.06 |
| Calmar ratioReturn relative to maximum drawdown | 1.71 | 1.97 | -0.26 |
| Martin ratioReturn relative to average drawdown | 4.33 | 7.04 | -2.71 |
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Drawdowns
OILU vs. LQDW - Drawdown Comparison
The maximum OILU drawdown since its inception was -81.00%, which is greater than LQDW's maximum drawdown of -9.20%. Use the drawdown chart below to compare losses from any high point for OILU and LQDW.
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Drawdown Indicators
| OILU | LQDW | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -81.00% | -9.20% | -71.80% |
Max Drawdown (1Y)Largest decline over 1 year | -46.49% | -2.59% | -43.90% |
Max Drawdown (3Y)Largest decline over 3 years | -69.09% | -6.74% | -62.35% |
Current DrawdownCurrent decline from peak | -52.43% | -1.02% | -51.41% |
Average DrawdownAverage peak-to-trough decline | -50.70% | -2.29% | -48.41% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 18.27% | 0.72% | +17.55% |
Volatility
OILU vs. LQDW - Volatility Comparison
MicroSectors Oil & Gas Exploration & Production 3X Leveraged ETN (OILU) has a higher volatility of 19.66% compared to iShares Investment Grade Corporate Bond Buywrite Strategy ETF (LQDW) at 0.99%. This indicates that OILU's price experiences larger fluctuations and is considered to be riskier than LQDW based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| OILU | LQDW | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 19.66% | 0.99% | +18.67% |
Volatility (6M)Calculated over the trailing 6-month period | 51.10% | 3.24% | +47.86% |
Volatility (1Y)Calculated over the trailing 1-year period | 63.87% | 3.70% | +60.17% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 80.92% | 5.44% | +75.48% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 80.92% | 5.44% | +75.48% |
OILU vs. LQDW - Expense Ratio Comparison
OILU has a 0.95% expense ratio, which is higher than LQDW's 0.34% expense ratio.
Dividends
OILU vs. LQDW - Dividend Comparison
OILU has not paid dividends to shareholders, while LQDW's dividend yield for the trailing twelve months is around 12.23%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
LQDW iShares Investment Grade Corporate Bond Buywrite Strategy ETF | 12.23% | 16.02% | 15.74% | 19.28% | 8.85% |
OILU MicroSectors Oil & Gas Exploration & Production 3X Leveraged ETN | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
OILU and LQDW have a correlation of -0.30, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
OILU has higher volatility (19.66%) compared to LQDW (0.99%). In terms of maximum drawdown, OILU dropped -81.00% vs LQDW's -9.20%.
On 3-year performance, OILU leads with 3.44% vs 3.21% for LQDW. On fees, LQDW is cheaper at 0.34% per year. On volatility, LQDW has been the lower-risk option at 0.99%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, OILU has performed better with a 3.44% return vs 3.21%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
LQDW is cheaper with a 0.34% expense ratio, compared with 0.95% for OILU.
LQDW has the higher dividend yield at 12.23%, compared with 0.00% for OILU.
OILU is categorized as Leveraged Commodities, while LQDW is Corporate Bonds. They also come from different issuers: BMO and iShares. Their fees differ too: 0.95% for OILU and 0.34% for LQDW.
LQDW currently has the higher Sharpe Ratio (1.38 vs 1.24), 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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