OOSP vs. OIH

Last updated Jun 24, 2026

OOSP (Obra Opportunistic Structured Products ETF) and OIH (VanEck Oil Services ETF) are both exchange-traded funds - OOSP is a Multisector Bonds fund actively managed by Obra, while OIH is a Energy Equities fund tracking the MVIS US Listed Oil Services 25 Index. OOSP is actively managed, while OIH is passively managed. Over the past year, OOSP returned 6.50% vs 68.64% for OIH. At a correlation of -0.10, they often move in opposite directions. OOSP charges 0.90%/yr vs 0.35%/yr for OIH.

Performance

OOSP vs. OIH - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Obra Opportunistic Structured Products ETF (OOSP) and VanEck Oil Services ETF (OIH). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, OOSP achieves a 2.66% return, which is significantly lower than OIH's 35.03% return.

OOSP

• 1D: 0.00%
• 1M: 0.36%
• YTD: 2.66%
• 6M: 2.82%
• 1Y: 6.50%
• 3Y*: —
• 5Y*: —
• 10Y*: —

OIH

• 1D: -1.13%
• 1M: -13.39%
• YTD: 35.03%
• 6M: 35.52%
• 1Y: 68.64%
• 3Y*: 14.83%
• 5Y*: 12.26%
• 10Y*: -2.32%

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

OOSP vs. OIH - Yearly Performance Comparison

	2026 (YTD)	2025	2024
OOSP Obra Opportunistic Structured Products ETF	2.66%	7.41%	6.27%
OIH VanEck Oil Services ETF	35.03%	6.81%	-19.60%

Correlation

The correlation between OOSP and OIH is -0.15, 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	-0.15
Correlation (All Time) Calculated using the full available price history since Apr 10, 2024	-0.10

Return for Risk

OOSP vs. OIH — Risk / Return Rank

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

OOSP

OOSP Risk / Return Rank: 72
OOSP Sharpe Ratio Rank: 57
OOSP Sortino Ratio Rank: 59
OOSP Omega Ratio Rank: 67
OOSP Calmar Ratio Rank: 89
OOSP Martin Ratio Rank: 88

OIH

OIH Risk / Return Rank: 75
OIH Sharpe Ratio Rank: 75
OIH Sortino Ratio Rank: 69
OIH Omega Ratio Rank: 63
OIH Calmar Ratio Rank: 85
OIH Martin Ratio Rank: 83

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.

OOSP vs. OIH - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Obra Opportunistic Structured Products ETF (OOSP) and VanEck Oil Services ETF (OIH). 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.

	OOSP	OIH	Difference
Sharpe ratio: Return per unit of total volatility	1.79	2.30	-0.51
Sortino ratio: Return per unit of downside risk	2.60	2.97	-0.37
Omega ratio: Gain probability vs. loss probability	1.38	1.36	+0.02
Calmar ratio: Return relative to maximum drawdown	4.97	4.51	+0.46
Martin ratio: Return relative to average drawdown	18.41	16.04	+2.37

OOSP vs. OIH - Sharpe Ratio Comparison

The current OOSP Sharpe Ratio is 1.79, which is comparable to the OIH Sharpe Ratio of 2.30. The chart below compares the historical Sharpe Ratios of OOSP and OIH, 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

OOSP vs. OIH - Drawdown Comparison

The maximum OOSP drawdown since its inception was -1.31%, smaller than the maximum OIH drawdown of -94.45%. Use the drawdown chart below to compare losses from any high point for OOSP and OIH.

Drawdown Indicators

	OOSP	OIH	Difference
Max Drawdown Largest peak-to-trough decline	-1.31%	-94.45%	+93.14%
Max Drawdown (1Y) Largest decline over 1 year	-1.31%	-15.29%	+13.98%
Max Drawdown (3Y) Largest decline over 3 years	—	-43.80%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-43.80%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-89.62%	—
Current Drawdown Current decline from peak	0.00%	-65.76%	+65.76%
Average Drawdown Average peak-to-trough decline	-0.20%	-48.87%	+48.67%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.35%	4.29%	-3.94%

Volatility

OOSP vs. OIH - Volatility Comparison

The current volatility for Obra Opportunistic Structured Products ETF (OOSP) is 0.39%, while VanEck Oil Services ETF (OIH) has a volatility of 10.14%. This indicates that OOSP experiences smaller price fluctuations and is considered to be less risky than OIH based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	OOSP	OIH	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.39%	10.14%	-9.75%
Volatility (6M) Calculated over the trailing 6-month period	2.17%	21.14%	-18.97%
Volatility (1Y) Calculated over the trailing 1-year period	3.65%	30.39%	-26.74%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	3.32%	36.79%	-33.47%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	3.32%	42.38%	-39.06%

OOSP vs. OIH - Expense Ratio Comparison

OOSP has a 0.90% expense ratio, which is higher than OIH's 0.35% expense ratio.

Dividends

OOSP vs. OIH - Dividend Comparison

OOSP's dividend yield for the trailing twelve months is around 6.45%, more than OIH's 1.27% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
OIH VanEck Oil Services ETF	1.27%	1.71%	2.01%	1.36%	0.95%	0.98%	1.23%	2.10%	2.13%	2.60%	1.40%	2.39%
OOSP Obra Opportunistic Structured Products ETF	6.45%	6.71%	5.42%	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 OOSP and OIH in my portfolio?

OOSP and OIH have a correlation of -0.15, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, OOSP or OIH?

OIH has higher volatility (10.14%) compared to OOSP (0.39%). In terms of maximum drawdown, OOSP dropped -1.31% vs OIH's -94.45%.

Which ETF is better, OOSP or OIH?

On 1-year performance, OIH leads with 68.64% vs 6.50% for OOSP. On fees, OIH is cheaper at 0.35% per year. On volatility, OOSP has been the lower-risk option at 0.39%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, OOSP or OIH?

Over the 1-year period, OIH has performed better with a 68.64% return vs 6.50%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, OOSP or OIH?

OIH is cheaper with a 0.35% expense ratio, compared with 0.90% for OOSP.

Which ETF pays a higher dividend yield, OOSP or OIH?

OOSP has the higher dividend yield at 6.45%, compared with 1.27% for OIH.

What is the main difference between OOSP and OIH?

OOSP is categorized as Multisector Bonds, while OIH is Energy Equities. They also come from different issuers: Obra and VanEck. Their fees differ too: 0.90% for OOSP and 0.35% for OIH.

Which has better risk-adjusted returns?

OIH currently has the higher Sharpe Ratio (2.30 vs 1.79), 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.