OILU vs. SPYI

Last updated Apr 1, 2026

Compare and contrast key facts about MicroSectors Oil & Gas Exploration & Production 3X Leveraged ETN (OILU) and NEOS S&P 500 High Income ETF (SPYI).

OILU and SPYI 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. SPYI is an actively managed fund by Neos. It was launched on Aug 29, 2022.

Performance

OILU vs. SPYI - 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 NEOS S&P 500 High Income ETF (SPYI). The values are adjusted to include any dividend payments, if applicable.

OILU vs. SPYI - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
OILU MicroSectors Oil & Gas Exploration & Production 3X Leveraged ETN	137.69%	-16.50%	-21.65%	-32.50%	-2.10%
SPYI NEOS S&P 500 High Income ETF	-3.13%	16.67%	19.03%	18.09%	-2.44%

Returns By Period

In the year-to-date period, OILU achieves a 137.69% return, which is significantly higher than SPYI's -3.13% return.

OILU

• 1D: -4.17%
• 1M: 33.09%
• YTD: 137.69%
• 6M: 126.29%
• 1Y: 64.88%
• 3Y*: 11.21%
• 5Y*: —
• 10Y*: —

SPYI

• 1D: 2.91%
• 1M: -4.27%
• YTD: -3.13%
• 6M: 0.26%
• 1Y: 16.35%
• 3Y*: 14.25%
• 5Y*: —
• 10Y*: —

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

OILU vs. SPYI - Expense Ratio Comparison

OILU has a 0.95% expense ratio, which is higher than SPYI's 0.68% expense ratio.

OILU

MicroSectors Oil & Gas Exploration & Production 3X Leveraged ETN

SPYI

NEOS S&P 500 High Income ETF

Return for Risk

OILU vs. SPYI — Risk / Return Rank

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

OILU

OILU Risk / Return Rank: 50
OILU Sharpe Ratio Rank: 49
OILU Sortino Ratio Rank: 56
OILU Omega Ratio Rank: 59
OILU Calmar Ratio Rank: 56
OILU Martin Ratio Rank: 29

SPYI

SPYI Risk / Return Rank: 69
SPYI Sharpe Ratio Rank: 61
SPYI Sortino Ratio Rank: 64
SPYI Omega Ratio Rank: 73
SPYI Calmar Ratio Rank: 66
SPYI Martin Ratio Rank: 81

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. SPYI - 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 NEOS S&P 500 High Income ETF (SPYI). 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	SPYI	Difference
Sharpe ratio Return per unit of total volatility	0.86	1.01	-0.16
Sortino ratio Return per unit of downside risk	1.43	1.53	-0.10
Omega ratio Gain probability vs. loss probability	1.21	1.26	-0.05
Calmar ratio Return relative to maximum drawdown	1.36	1.55	-0.18
Martin ratio Return relative to average drawdown	2.31	8.15	-5.84
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. SPYI - Sharpe Ratio Comparison

The current OILU Sharpe Ratio is 0.86, which is comparable to the SPYI Sharpe Ratio of 1.01. The chart below compares the historical Sharpe Ratios of OILU and SPYI, 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	SPYI	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.86	1.01	-0.16
Sharpe Ratio (All Time) Calculated using the full available price history	0.24	1.00	-0.76

Correlation

The correlation between OILU and SPYI is 0.30, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.

Dividends

OILU vs. SPYI - Dividend Comparison

OILU has not paid dividends to shareholders, while SPYI's dividend yield for the trailing twelve months is around 12.50%.

	TTM	2025	2024	2023	2022
OILU MicroSectors Oil & Gas Exploration & Production 3X Leveraged ETN	0.00%	0.00%	0.00%	0.00%	0.00%
SPYI NEOS S&P 500 High Income ETF	12.50%	11.70%	12.04%	12.01%	4.10%

Drawdowns

OILU vs. SPYI - Drawdown Comparison

The maximum OILU drawdown since its inception was -81.00%, which is greater than SPYI's maximum drawdown of -16.47%. Use the drawdown chart below to compare losses from any high point for OILU and SPYI.

Drawdown Indicators

	OILU	SPYI	Difference
Max Drawdown Largest peak-to-trough decline	-81.00%	-16.47%	-64.53%
Max Drawdown (1Y) Largest decline over 1 year	-52.04%	-11.02%	-41.02%
Current Drawdown Current decline from peak	-36.07%	-5.03%	-31.04%
Average Drawdown Average peak-to-trough decline	-50.73%	-1.86%	-48.87%
Ulcer Index Depth and duration of drawdowns from previous peaks	30.72%	2.09%	+28.63%

Volatility

OILU vs. SPYI - Volatility Comparison

MicroSectors Oil & Gas Exploration & Production 3X Leveraged ETN (OILU) has a higher volatility of 16.19% compared to NEOS S&P 500 High Income ETF (SPYI) at 5.08%. This indicates that OILU's price experiences larger fluctuations and is considered to be riskier than SPYI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	OILU	SPYI	Difference
Volatility (1M) Calculated over the trailing 1-month period	16.19%	5.08%	+11.11%
Volatility (6M) Calculated over the trailing 6-month period	42.42%	8.27%	+34.15%
Volatility (1Y) Calculated over the trailing 1-year period	76.32%	16.22%	+60.10%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	81.18%	13.12%	+68.06%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	81.18%	13.12%	+68.06%