PXE vs. OILU
PXE (Invesco Dynamic Energy Exploration & Production ETF) and OILU (MicroSectors Oil & Gas Exploration & Production 3X Leveraged ETN) are both exchange-traded funds - PXE is a Energy Equities fund tracking the Dynamic Energy Exploration & Production Intellidex 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, PXE returned 9.38%/yr vs 0.08%/yr for OILU. Their correlation of 0.93 means they have usually moved in the same direction. PXE charges 0.63%/yr vs 0.95%/yr for OILU.
Performance
PXE vs. OILU - Performance Comparison
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Returns By Period
In the year-to-date period, PXE achieves a 37.35% return, which is significantly lower than OILU's 87.02% return.
PXE
- 1D
- -1.42%
- 1M
- 11.73%
- 6M
- 30.07%
- YTD
- 37.35%
- 1Y
- 40.97%
- 3Y*
- 9.38%
- 5Y*
- 23.28%
- 10Y*
- 9.15%
- ALL TIME*
- 6.40%
OILU
- 1D
- -4.14%
- 1M
- 32.93%
- 6M
- 40.98%
- YTD
- 87.02%
- 1Y
- 99.31%
- 3Y*
- 0.08%
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 12.22%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $8.15M | $7.77M | $7.91M | |
| $1.19M | $1.10M | $1.96M |
PXE vs. OILU - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
PXE Invesco Dynamic Energy Exploration & Production ETF | 37.35% | -2.82% | -1.86% | 7.69% | 58.32% | -9.78% |
OILU MicroSectors Oil & Gas Exploration & Production 3X Leveraged ETN | 87.02% | -16.50% | -21.65% | -32.50% | 151.08% | -16.79% |
Correlation
The correlation between PXE and OILU is 0.91, 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. | 0.91 |
Correlation (3Y) Balances recent behavior with more history. | 0.92 |
Correlation (All Time) Calculated using the full available price history since Nov 9, 2021 | 0.93 |
The correlation between PXE and OILU has been stable across timeframes, ranging from 0.91 to 0.93 - a consistent structural relationship.
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Return for Risk
PXE vs. OILU — Risk / Return Rank
PXE
OILU
PXE vs. OILU - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco Dynamic Energy Exploration & Production ETF (PXE) 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.
| PXE | OILU | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.06 | ||
| Sortino ratioReturn per unit of downside risk | 0.00 | ||
| Omega ratioGain probability vs. loss probability | 1.25 | 1.25 | 0.00 |
| Calmar ratioReturn relative to maximum drawdown | 2.47 | 2.15 | +0.32 |
| Martin ratioReturn relative to average drawdown | 5.86 | 5.28 | +0.58 |
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Drawdowns
PXE vs. OILU - Drawdown Comparison
The maximum PXE drawdown since its inception was -83.99%, roughly equal to the maximum OILU drawdown of -81.00%. Use the drawdown chart below to compare losses from any high point for PXE and OILU.
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Drawdown Indicators
| PXE | OILU | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -83.99% | -81.00% | -2.99% |
Max Drawdown (1Y)Largest decline over 1 year | -16.70% | -46.49% | +29.79% |
Max Drawdown (3Y)Largest decline over 3 years | -37.65% | -69.09% | +31.44% |
Max Drawdown (5Y)Largest decline over 5 years | -37.65% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -80.17% | — | — |
Current DrawdownCurrent decline from peak | -5.00% | -49.70% | +44.70% |
Average DrawdownAverage peak-to-trough decline | -27.85% | -50.69% | +22.84% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 7.01% | 18.87% | -11.86% |
Volatility
PXE vs. OILU - Volatility Comparison
The current volatility for Invesco Dynamic Energy Exploration & Production ETF (PXE) is 8.10%, while MicroSectors Oil & Gas Exploration & Production 3X Leveraged ETN (OILU) has a volatility of 20.09%. This indicates that PXE 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.
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Volatility by Period
| PXE | OILU | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 8.10% | 20.09% | -11.99% |
Volatility (6M)Calculated over the trailing 6-month period | 21.59% | 52.12% | -30.53% |
Volatility (1Y)Calculated over the trailing 1-year period | 27.57% | 64.31% | -36.74% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 33.26% | 80.79% | -47.53% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 36.95% | 80.79% | -43.84% |
PXE vs. OILU - Expense Ratio Comparison
PXE has a 0.63% expense ratio, which is lower than OILU's 0.95% expense ratio.
Dividends
PXE vs. OILU - Dividend Comparison
PXE's dividend yield for the trailing twelve months is around 1.74%, 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% |
PXE Invesco Dynamic Energy Exploration & Production ETF | 1.74% | 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
With a correlation of 0.91, PXE and OILU move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.
OILU has higher volatility (20.09%) compared to PXE (8.10%). In terms of maximum drawdown, PXE dropped -83.99% vs OILU's -81.00%.
On 3-year performance, PXE leads with 9.38% vs 0.08% for OILU. On fees, PXE is cheaper at 0.63% per year. On volatility, PXE has been the lower-risk option at 8.10%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, PXE has performed better with a 9.38% return vs 0.08%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
PXE is cheaper with a 0.63% expense ratio, compared with 0.95% for OILU.
PXE has the higher dividend yield at 1.74%, compared with 0.00% for OILU.
PXE is categorized as Energy Equities, while OILU is Leveraged Equities. PXE tracks Dynamic Energy Exploration & Production Intellidex Index, while OILU tracks Solactive MicroSectors Oil & Gas Exploration & Production Index. They also come from different issuers: Invesco and BMO. Their fees differ too: 0.63% for PXE and 0.95% for OILU.
OILU currently has the higher Sharpe Ratio (1.56 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.
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