OILU vs. UMDD

Last updated Jun 13, 2026

OILU (MicroSectors Oil & Gas Exploration & Production 3X Leveraged ETN) and UMDD (ProShares UltraPro MidCap400) are both exchange-traded funds - OILU is a Leveraged Commodities fund managed by BMO, while UMDD is a Leveraged Equities fund tracking the S&P MidCap 400 Index (300%). Over the past 3 years, OILU returned 6.45%/yr vs 23.57%/yr for UMDD. At a 0.40 correlation, their price movements are largely independent. Both charge a 0.95% expense ratio.

Performance

OILU vs. UMDD - 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 ProShares UltraPro MidCap400 (UMDD). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, OILU achieves a 80.85% return, which is significantly higher than UMDD's 41.42% return.

OILU

• 1D: 2.31%
• 1M: -5.32%
• YTD: 80.85%
• 6M: 71.72%
• 1Y: 79.06%
• 3Y*: 6.45%
• 5Y*: —
• 10Y*: —

UMDD

• 1D: 2.20%
• 1M: 10.73%
• YTD: 41.42%
• 6M: 35.75%
• 1Y: 66.43%
• 3Y*: 23.57%
• 5Y*: 2.41%
• 10Y*: 12.78%

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

OILU vs. UMDD - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
OILU MicroSectors Oil & Gas Exploration & Production 3X Leveraged ETN	80.85%	-16.50%	-21.65%	-32.50%	151.08%	-16.79%
UMDD ProShares UltraPro MidCap400	41.42%	-2.57%	19.68%	27.21%	-49.60%	-7.99%

Correlation

The correlation between OILU and UMDD is 0.06, 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	0.06
Correlation (3Y) Calculated over the trailing 3-year period	0.34
Correlation (All Time) Calculated using the full available price history since Nov 9, 2021	0.40

Over the past year, the correlation between OILU and UMDD has dropped to 0.06 - well below their long-term average of 0.40, suggesting their price drivers have been diverging.

OILU vs. UMDD - Sectors Allocation Comparison

Sectors	OILU	UMDD
Energy	100.0%	2.7%
Basic Materials	-	2.6%
Communication Services	-	0.5%
Consumer Cyclical	-	5.1%
Consumer Defensive	-	2.2%
Financial Services	-	7.1%
Healthcare	-	4.8%
Industrials	-	13.4%
Real Estate	-	3.9%
Technology	-	9.0%
Utilities	-	1.6%

Return for Risk

OILU vs. UMDD — Risk / Return Rank

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

OILU

OILU Risk / Return Rank: 42
OILU Sharpe Ratio Rank: 41
OILU Sortino Ratio Rank: 38
OILU Omega Ratio Rank: 36
OILU Calmar Ratio Rank: 54
OILU Martin Ratio Rank: 40

UMDD

UMDD Risk / Return Rank: 49
UMDD Sharpe Ratio Rank: 45
UMDD Sortino Ratio Rank: 45
UMDD Omega Ratio Rank: 43
UMDD Calmar Ratio Rank: 58
UMDD Martin Ratio Rank: 56

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. UMDD - 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 ProShares UltraPro MidCap400 (UMDD). 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	UMDD	Difference
Sharpe ratio: Return per unit of total volatility	1.27	1.40	-0.13
Sortino ratio: Return per unit of downside risk	1.78	2.01	-0.23
Omega ratio: Gain probability vs. loss probability	1.22	1.24	-0.03
Calmar ratio: Return relative to maximum drawdown	2.37	2.56	-0.19
Martin ratio: Return relative to average drawdown	5.62	8.58	-2.96

OILU vs. UMDD - Sharpe Ratio Comparison

The current OILU Sharpe Ratio is 1.27, which is comparable to the UMDD Sharpe Ratio of 1.40. The chart below compares the historical Sharpe Ratios of OILU and UMDD, 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

OILU vs. UMDD - Drawdown Comparison

The maximum OILU drawdown since its inception was -81.00%, smaller than the maximum UMDD drawdown of -86.24%. Use the drawdown chart below to compare losses from any high point for OILU and UMDD.

Drawdown Indicators

	OILU	UMDD	Difference
Max Drawdown Largest peak-to-trough decline	-81.00%	-86.24%	+5.24%
Max Drawdown (1Y) Largest decline over 1 year	-33.51%	-26.04%	-7.47%
Max Drawdown (3Y) Largest decline over 3 years	-69.09%	-60.33%	-8.76%
Max Drawdown (5Y) Largest decline over 5 years	—	-64.61%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-86.24%	—
Current Drawdown Current decline from peak	-51.36%	-3.15%	-48.21%
Average Drawdown Average peak-to-trough decline	-50.54%	-23.58%	-26.96%
Ulcer Index Depth and duration of drawdowns from previous peaks	14.12%	7.78%	+6.34%

Volatility

OILU vs. UMDD - Volatility Comparison

MicroSectors Oil & Gas Exploration & Production 3X Leveraged ETN (OILU) has a higher volatility of 21.88% compared to ProShares UltraPro MidCap400 (UMDD) at 14.80%. This indicates that OILU's price experiences larger fluctuations and is considered to be riskier than UMDD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	OILU	UMDD	Difference
Volatility (1M) Calculated over the trailing 1-month period	21.88%	14.80%	+7.08%
Volatility (6M) Calculated over the trailing 6-month period	50.72%	35.26%	+15.46%
Volatility (1Y) Calculated over the trailing 1-year period	62.50%	47.64%	+14.86%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	81.07%	59.05%	+22.02%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	81.07%	62.32%	+18.75%

OILU vs. UMDD - Expense Ratio Comparison

Both OILU and UMDD have an expense ratio of 0.95%.

Dividends

OILU vs. UMDD - Dividend Comparison

OILU has not paid dividends to shareholders, while UMDD's dividend yield for the trailing twelve months is around 0.74%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
OILU MicroSectors Oil & Gas Exploration & Production 3X Leveraged ETN	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
UMDD ProShares UltraPro MidCap400	0.74%	1.00%	0.76%	0.19%	0.49%	0.06%	0.08%	0.64%	0.32%	0.00%	0.03%	0.06%

Frequently Asked Questions

Can I hold both OILU and UMDD in my portfolio?

OILU and UMDD have a correlation of 0.06, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, OILU or UMDD?

OILU has higher volatility (21.88%) compared to UMDD (14.80%). In terms of maximum drawdown, OILU dropped -81.00% vs UMDD's -86.24%.

Which ETF is better, OILU or UMDD?

On 3-year performance, UMDD leads with 23.57% vs 6.45% for OILU. Both ETFs have the same 0.95% expense ratio. On volatility, UMDD has been the lower-risk option at 14.80%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, OILU or UMDD?

Over the 3-year period, UMDD has performed better with a 23.57% return vs 6.45%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, OILU or UMDD?

OILU and UMDD have the same expense ratio: 0.95% per year.

Which ETF pays a higher dividend yield, OILU or UMDD?

UMDD has the higher dividend yield at 0.74%, compared with 0.00% for OILU.

What is the main difference between OILU and UMDD?

OILU is categorized as Leveraged Commodities, while UMDD is Leveraged Equities. They also come from different issuers: BMO and ProShares.

Which has better risk-adjusted returns?

UMDD currently has the higher Sharpe Ratio (1.40 vs 1.27), 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.