PXE vs. OIH
PXE (Invesco Dynamic Energy Exploration & Production ETF) and OIH (VanEck Oil Services ETF) are both Energy Equities funds - PXE tracks the Dynamic Energy Exploration & Production Intellidex Index while OIH tracks the MVIS US Listed Oil Services 25 Index. Both are passively managed. Over the past 10 years, PXE returned 8.16%/yr vs -2.32%/yr for OIH. Their correlation of 0.84 suggests significant overlap in exposure. PXE charges 0.63%/yr vs 0.35%/yr for OIH.
Performance
PXE vs. OIH - Performance Comparison
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Returns By Period
In the year-to-date period, PXE achieves a 22.92% return, which is significantly lower than OIH's 35.03% return. Over the past 10 years, PXE has outperformed OIH with an annualized return of 8.16%, while OIH has yielded a comparatively lower -2.32% annualized return.
PXE
- 1D
- 0.26%
- 1M
- -8.41%
- YTD
- 22.92%
- 6M
- 22.87%
- 1Y
- 20.91%
- 3Y*
- 11.92%
- 5Y*
- 15.82%
- 10Y*
- 8.16%
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%
PXE vs. OIH - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
PXE Invesco Dynamic Energy Exploration & Production ETF | 22.92% | -2.82% | -1.86% | 7.69% | 58.32% | 94.04% | -36.76% | -1.69% | -23.35% | 1.02% |
OIH VanEck Oil Services ETF | 35.03% | 6.81% | -10.53% | 3.20% | 66.17% | 21.22% | -41.19% | -3.54% | -45.03% | -19.66% |
Correlation
The correlation between PXE and OIH is 0.66, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.66 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.75 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.82 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.83 |
Correlation (All Time) Calculated using the full available price history since Oct 26, 2005 | 0.84 |
The correlation between PXE and OIH shifts across timeframes, from 0.66 (1 year) to 0.84 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
PXE vs. OIH — Risk / Return Rank
PXE
OIH
PXE vs. OIH - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco Dynamic Energy Exploration & Production ETF (PXE) 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.
| PXE | OIH | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.54 | ||
| Sortino ratioReturn per unit of downside risk | -1.81 | ||
| Omega ratioGain probability vs. loss probability | 1.14 | 1.36 | -0.22 |
| Calmar ratioReturn relative to maximum drawdown | 1.26 | 4.51 | -3.25 |
| Martin ratioReturn relative to average drawdown | 3.36 | 16.04 | -12.68 |
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Drawdowns
PXE vs. OIH - Drawdown Comparison
The maximum PXE drawdown since its inception was -83.99%, smaller than the maximum OIH drawdown of -94.45%. Use the drawdown chart below to compare losses from any high point for PXE and OIH.
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Drawdown Indicators
| PXE | OIH | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -83.99% | -94.45% | +10.46% |
Max Drawdown (1Y)Largest decline over 1 year | -16.70% | -15.29% | -1.41% |
Max Drawdown (3Y)Largest decline over 3 years | -37.65% | -43.80% | +6.15% |
Max Drawdown (5Y)Largest decline over 5 years | -37.65% | -43.80% | +6.15% |
Max Drawdown (10Y)Largest decline over 10 years | -80.17% | -89.62% | +9.45% |
Current DrawdownCurrent decline from peak | -14.98% | -65.76% | +50.78% |
Average DrawdownAverage peak-to-trough decline | -27.95% | -48.87% | +20.92% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 6.24% | 4.29% | +1.95% |
Volatility
PXE vs. OIH - Volatility Comparison
The current volatility for Invesco Dynamic Energy Exploration & Production ETF (PXE) is 8.95%, while VanEck Oil Services ETF (OIH) has a volatility of 10.14%. This indicates that PXE 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.
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Volatility by Period
| PXE | OIH | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 8.95% | 10.14% | -1.19% |
Volatility (6M)Calculated over the trailing 6-month period | 20.98% | 21.14% | -0.16% |
Volatility (1Y)Calculated over the trailing 1-year period | 27.96% | 30.39% | -2.43% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 33.65% | 36.79% | -3.14% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 37.00% | 42.38% | -5.38% |
PXE vs. OIH - Expense Ratio Comparison
PXE has a 0.63% expense ratio, which is higher than OIH's 0.35% expense ratio.
Dividends
PXE vs. OIH - Dividend Comparison
PXE's dividend yield for the trailing twelve months is around 1.94%, 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% |
PXE Invesco Dynamic Energy Exploration & Production ETF | 1.94% | 2.98% | 2.54% | 2.78% | 3.03% | 1.86% | 4.10% | 1.70% | 1.29% | 1.54% | 6.62% | 2.58% |
Frequently Asked Questions
PXE and OIH have a correlation of 0.66, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
OIH has higher volatility (10.14%) compared to PXE (8.95%). In terms of maximum drawdown, PXE dropped -83.99% vs OIH's -94.45%.
On 10-year performance, PXE leads with 8.16% vs -2.32% for OIH. On fees, OIH is cheaper at 0.35% per year. On volatility, PXE has been the lower-risk option at 8.95%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, PXE has performed better with a 8.16% return vs -2.32%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
OIH is cheaper with a 0.35% expense ratio, compared with 0.63% for PXE.
PXE has the higher dividend yield at 1.94%, compared with 1.27% for OIH.
PXE tracks Dynamic Energy Exploration & Production Intellidex Index, while OIH tracks MVIS US Listed Oil Services 25 Index. They also come from different issuers: Invesco and VanEck. Their fees differ too: 0.63% for PXE and 0.35% for OIH.
OIH currently has the higher Sharpe Ratio (2.30 vs 0.76), 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.
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