PSCE vs. OILU

Last updated Aug 2, 2026

PSCE (Invesco S&P SmallCap Energy ETF) and OILU (MicroSectors Oil & Gas Exploration & Production 3X Leveraged ETN) are both exchange-traded funds - PSCE is a Energy Equities fund tracking the S&P SmallCap 600 Energy Index, while OILU is a Leveraged Equities fund tracking the Solactive MicroSectors Oil & Gas Exploration & Production Index. Both are passively managed. Over the past 3 years, PSCE returned 3.86%/yr vs 1.15%/yr for OILU. Their correlation of 0.87 means they have usually moved in the same direction. PSCE charges 0.29%/yr vs 0.95%/yr for OILU.

Performance

PSCE vs. OILU - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco S&P SmallCap Energy ETF (PSCE) and MicroSectors Oil & Gas Exploration & Production 3X Leveraged ETN (OILU). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, PSCE achieves a 35.93% return, which is significantly lower than OILU's 95.09% return.

PSCE

• 1D: 1.76%
• 1M: 7.67%
• 6M: 15.91%
• YTD: 35.93%
• 1Y: 55.62%
• 3Y*: 3.86%
• 5Y*: 13.60%
• 10Y*: -1.41%
• ALL TIME*: -3.92%

OILU

• 1D: 3.79%
• 1M: 38.67%
• 6M: 37.11%
• YTD: 95.09%
• 1Y: 107.91%
• 3Y*: 1.15%
• 5Y*: —
• 10Y*: —
• ALL TIME*: 13.25%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
OILU MicroSectors Oil & Gas Exploration & Production 3X Leveraged ETN	$8.21M	$8.45M	$7.94M
PSCE Invesco S&P SmallCap Energy ETF	$1.43M	$1.38M	$1.78M

PSCE vs. OILU - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
PSCE Invesco S&P SmallCap Energy ETF	35.93%	-9.00%	-5.47%	5.07%	48.45%	-18.98%
OILU MicroSectors Oil & Gas Exploration & Production 3X Leveraged ETN	95.09%	-16.50%	-21.65%	-32.50%	151.08%	-16.79%

Correlation

The correlation between PSCE and OILU is 0.81, meaning they have usually moved in the same direction, including during past declines.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.81
Correlation (3Y) Balances recent behavior with more history.	0.84
Correlation (All Time) Calculated using the full available price history since Nov 9, 2021	0.87

The correlation between PSCE and OILU has been stable across timeframes, ranging from 0.81 to 0.87 - a consistent structural relationship.

PSCE vs. OILU - Sectors Allocation Comparison

Sectors	PSCE	OILU
Energy	90.0%	100.0%
Industrials	3.6%	-
Basic Materials	1.2%	-
Financial Services	0.2%	-
Communication Services	-	-
Consumer Cyclical	-	-
Consumer Defensive	-	-
Healthcare	-	-
Real Estate	-	-
Technology	-	-
Utilities	-	-

Return for Risk

PSCE vs. OILU — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

PSCE

PSCE Risk / Return Rank: 76
PSCE Sharpe Ratio Rank: 79
PSCE Sortino Ratio Rank: 74
PSCE Omega Ratio Rank: 70
PSCE Calmar Ratio Rank: 82
PSCE Martin Ratio Rank: 73

OILU

OILU Risk / Return Rank: 56
OILU Sharpe Ratio Rank: 65
OILU Sortino Ratio Rank: 57
OILU Omega Ratio Rank: 55
OILU Calmar Ratio Rank: 59
OILU Martin Ratio Rank: 45

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

PSCE vs. OILU - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco S&P SmallCap Energy ETF (PSCE) and MicroSectors Oil & Gas Exploration & Production 3X Leveraged ETN (OILU). 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.

	PSCE	OILU	Difference
Sharpe ratio: Return per unit of total volatility	1.80	1.50	+0.31
Sortino ratio: Return per unit of downside risk	2.37	1.96	+0.41
Omega ratio: Gain probability vs. loss probability	1.29	1.24	+0.05
Calmar ratio: Return relative to maximum drawdown	3.04	2.07	+0.97
Martin ratio: Return relative to average drawdown	9.13	5.11	+4.02

PSCE vs. OILU - Sharpe Ratio Comparison

The current PSCE Sharpe Ratio is 1.80, which is comparable to the OILU Sharpe Ratio of 1.50. The chart below compares the historical Sharpe Ratios of PSCE and OILU, 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

PSCE vs. OILU - Drawdown Comparison

The maximum PSCE drawdown since its inception was -96.21%, which is greater than OILU's maximum drawdown of -81.00%. Use the drawdown chart below to compare losses from any high point for PSCE and OILU.

Drawdown Indicators

	PSCE	OILU	Difference
Max Drawdown Largest peak-to-trough decline	-96.21%	-81.00%	-15.21%
Max Drawdown (1Y) Largest decline over 1 year	-16.17%	-46.49%	+30.32%
Max Drawdown (3Y) Largest decline over 3 years	-44.57%	-69.09%	+24.52%
Max Drawdown (5Y) Largest decline over 5 years	-45.42%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-90.70%	—	—
Current Drawdown Current decline from peak	-75.85%	-47.53%	-28.32%
Average Drawdown Average peak-to-trough decline	-58.99%	-50.69%	-8.30%
Ulcer Index Depth and duration of drawdowns from previous peaks	5.39%	18.88%	-13.49%

Volatility

PSCE vs. OILU - Volatility Comparison

The current volatility for Invesco S&P SmallCap Energy ETF (PSCE) is 8.68%, while MicroSectors Oil & Gas Exploration & Production 3X Leveraged ETN (OILU) has a volatility of 19.22%. This indicates that PSCE experiences smaller price fluctuations and is considered to be less risky than OILU based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	PSCE	OILU	Difference
Volatility (1M) Calculated over the trailing 1-month period	8.68%	19.22%	-10.54%
Volatility (6M) Calculated over the trailing 6-month period	20.04%	51.99%	-31.95%
Volatility (1Y) Calculated over the trailing 1-year period	27.41%	64.36%	-36.95%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	36.95%	80.80%	-43.85%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	43.02%	80.80%	-37.78%

PSCE vs. OILU - Expense Ratio Comparison

PSCE has a 0.29% expense ratio, which is lower than OILU's 0.95% expense ratio.

Dividends

PSCE vs. OILU - Dividend Comparison

PSCE's dividend yield for the trailing twelve months is around 2.22%, while OILU has not paid dividends to shareholders.

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%
PSCE Invesco S&P SmallCap Energy ETF	2.22%	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 OILU in my portfolio?

PSCE and OILU have a correlation of 0.81, 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 OILU?

OILU has higher volatility (19.22%) compared to PSCE (8.68%). In terms of maximum drawdown, PSCE dropped -96.21% vs OILU's -81.00%.

Which ETF is better, PSCE or OILU?

On 3-year performance, PSCE leads with 3.86% vs 1.15% for OILU. On fees, PSCE is cheaper at 0.29% per year. On volatility, PSCE has been the lower-risk option at 8.68%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, PSCE or OILU?

Over the 3-year period, PSCE has performed better with a 3.86% return vs 1.15%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, PSCE or OILU?

PSCE is cheaper with a 0.29% expense ratio, compared with 0.95% for OILU.

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

PSCE has the higher dividend yield at 2.22%, compared with 0.00% for OILU.

What is the main difference between PSCE and OILU?

PSCE is categorized as Energy Equities, while OILU is Leveraged Equities. PSCE tracks S&P SmallCap 600 Energy Index, while OILU tracks Solactive MicroSectors Oil & Gas Exploration & Production Index. They also come from different issuers: Invesco and BMO. Their fees differ too: 0.29% for PSCE and 0.95% for OILU.

Which has better risk-adjusted returns?

PSCE currently has the higher Sharpe Ratio (1.80 vs 1.50), 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.