PSCE vs. OIH

Last updated Jun 5, 2026

PSCE (Invesco S&P SmallCap Energy ETF) and OIH (VanEck Vectors Oil Services ETF) are both Energy Equities funds - PSCE tracks the S&P SmallCap 600 Energy Index while OIH tracks the MVIS US Listed Oil Services 25 Index. Both are passively managed. Over the past 10 years, PSCE returned -1.93%/yr vs -1.41%/yr for OIH. Their correlation of 0.89 suggests significant overlap in exposure. PSCE charges 0.29%/yr vs 0.35%/yr for OIH.

Performance

PSCE vs. OIH - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco S&P SmallCap Energy ETF (PSCE) and VanEck Vectors Oil Services ETF (OIH). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, PSCE achieves a 43.61% return, which is significantly lower than OIH's 54.15% return. Over the past 10 years, PSCE has underperformed OIH with an annualized return of -1.93%, while OIH has yielded a comparatively higher -1.41% annualized return.

PSCE

• 1D: 0.90%
• 1M: -4.11%
• YTD: 43.61%
• 6M: 35.01%
• 1Y: 66.01%
• 3Y*: 13.95%
• 5Y*: 10.97%
• 10Y*: -1.93%

OIH

• 1D: 1.80%
• 1M: -0.39%
• YTD: 54.15%
• 6M: 45.31%
• 1Y: 99.03%
• 3Y*: 19.96%
• 5Y*: 14.03%
• 10Y*: -1.41%

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

PSCE vs. OIH - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
PSCE Invesco S&P SmallCap Energy ETF	43.61%	-9.00%	-5.47%	5.07%	48.45%	59.85%	-40.31%	-14.93%	-42.98%	-26.70%
OIH VanEck Vectors Oil Services ETF	54.15%	6.81%	-10.53%	3.20%	66.17%	21.22%	-41.19%	-3.54%	-45.03%	-19.66%

Correlation

The correlation between PSCE and OIH is 0.84, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.84
Correlation (3Y) Calculated over the trailing 3-year period	0.88
Correlation (5Y) Calculated over the trailing 5-year period	0.90
Correlation (10Y) Calculated over the trailing 10-year period	0.90
Correlation (All Time) Calculated using the full available price history since Apr 8, 2010	0.89

The correlation between PSCE and OIH has been stable across timeframes, ranging from 0.84 to 0.90 - a consistent structural relationship.

PSCE vs. OIH - Sectors Allocation Comparison

Sectors	PSCE	OIH
Energy	98.6%	98.0%
Basic Materials	1.4%	-
Financial Services	0.1%	-
Communication Services	-	-
Consumer Cyclical	-	-
Consumer Defensive	-	-
Healthcare	-	-
Industrials	-	-
Real Estate	-	-
Technology	-	-
Utilities	-	1.8%

Return for Risk

PSCE vs. OIH — Risk / Return Rank

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

PSCE

PSCE Risk / Return Rank: 78
PSCE Sharpe Ratio Rank: 78
PSCE Sortino Ratio Rank: 68
PSCE Omega Ratio Rank: 64
PSCE Calmar Ratio Rank: 94
PSCE Martin Ratio Rank: 85

OIH

OIH Risk / Return Rank: 91
OIH Sharpe Ratio Rank: 93
OIH Sortino Ratio Rank: 89
OIH Omega Ratio Rank: 84
OIH Calmar Ratio Rank: 97
OIH Martin Ratio Rank: 94

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.

PSCE vs. OIH - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco S&P SmallCap Energy ETF (PSCE) and VanEck Vectors 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.

	PSCE	OIH	Difference
Sharpe ratio: Return per unit of total volatility	2.48	3.39	-0.92
Sortino ratio: Return per unit of downside risk	3.08	4.06	-0.98
Omega ratio: Gain probability vs. loss probability	1.38	1.51	-0.12
Calmar ratio: Return relative to maximum drawdown	7.05	10.44	-3.39
Martin ratio: Return relative to average drawdown	17.65	25.98	-8.33
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

PSCE vs. OIH - Sharpe Ratio Comparison

The current PSCE Sharpe Ratio is 2.48, which is comparable to the OIH Sharpe Ratio of 3.39. The chart below compares the historical Sharpe Ratios of PSCE 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.

Sharpe Ratios by Period

	PSCE	OIH	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.48	3.39	-0.92
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.29	0.38	-0.09
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	-0.04	-0.03	-0.01
Sharpe Ratio (All Time) Calculated using the full available price history	-0.09	0.01	-0.09

Drawdowns

PSCE vs. OIH - Drawdown Comparison

The maximum PSCE drawdown since its inception was -96.21%, roughly equal to the maximum OIH drawdown of -94.45%. Use the drawdown chart below to compare losses from any high point for PSCE and OIH.

Drawdown Indicators

	PSCE	OIH	Difference
Max Drawdown Largest peak-to-trough decline	-96.21%	-94.45%	-1.76%
Max Drawdown (1Y) Largest decline over 1 year	-9.41%	-9.54%	+0.13%
Max Drawdown (3Y) Largest decline over 3 years	-44.57%	-43.80%	-0.77%
Max Drawdown (5Y) Largest decline over 5 years	-45.42%	-43.80%	-1.62%
Max Drawdown (10Y) Largest decline over 10 years	-90.70%	-89.62%	-1.08%
Current Drawdown Current decline from peak	-74.48%	-60.91%	-13.57%
Average Drawdown Average peak-to-trough decline	-58.84%	-48.85%	-9.99%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.75%	3.82%	-0.07%

Volatility

PSCE vs. OIH - Volatility Comparison

Invesco S&P SmallCap Energy ETF (PSCE) and VanEck Vectors Oil Services ETF (OIH) have volatilities of 7.99% and 8.15%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	PSCE	OIH	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.99%	8.15%	-0.16%
Volatility (6M) Calculated over the trailing 6-month period	18.55%	20.40%	-1.85%
Volatility (1Y) Calculated over the trailing 1-year period	26.82%	29.38%	-2.56%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	37.44%	36.80%	+0.64%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	43.25%	42.41%	+0.84%

PSCE vs. OIH - Expense Ratio Comparison

PSCE has a 0.29% expense ratio, which is lower than OIH's 0.35% expense ratio.

Dividends

PSCE vs. OIH - Dividend Comparison

PSCE's dividend yield for the trailing twelve months is around 1.82%, more than OIH's 1.11% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
OIH VanEck Vectors Oil Services ETF	1.11%	1.71%	2.01%	1.36%	0.95%	0.98%	1.23%	2.10%	2.13%	2.60%	1.40%	2.39%
PSCE Invesco S&P SmallCap Energy ETF	1.82%	2.39%	1.70%	2.57%	1.70%	0.46%	0.87%	0.14%	0.22%	0.04%	0.22%	0.82%

Frequently Asked Questions

Can I hold both PSCE and OIH in my portfolio?

PSCE and OIH have a correlation of 0.84, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, PSCE or OIH?

OIH has higher volatility (8.15%) compared to PSCE (7.99%). In terms of maximum drawdown, PSCE dropped -96.21% vs OIH's -94.45%.

Which ETF is better, PSCE or OIH?

On 10-year performance, OIH leads with -1.41% vs -1.93% for PSCE. On fees, PSCE is cheaper at 0.29% per year. On volatility, PSCE has been the lower-risk option at 7.99%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, PSCE or OIH?

Over the 10-year period, OIH has performed better with a -1.41% return vs -1.93%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, PSCE or OIH?

PSCE is cheaper with a 0.29% expense ratio, compared with 0.35% for OIH.

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

PSCE has the higher dividend yield at 1.82%, compared with 1.11% for OIH.

What is the main difference between PSCE and OIH?

PSCE tracks S&P SmallCap 600 Energy Index, while OIH tracks MVIS US Listed Oil Services 25 Index. They also come from different issuers: Invesco and VanEck. Their fees differ too: 0.29% for PSCE and 0.35% for OIH.

Which has better risk-adjusted returns?

OIH currently has the higher Sharpe Ratio (3.39 vs 2.48), 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.