SVXY vs. OILK
SVXY (ProShares Short VIX Short-Term Futures ETF) and OILK (ProShares K-1 Free Crude Oil Strategy ETF) are both exchange-traded funds - SVXY is a Volatility fund tracking the S&P 500 VIX Short-Term Futures Index (-100%), while OILK is a Oil & Gas fund tracking the Bloomberg Commodity Balanced WTI Crude Oil Index. Both are passively managed. Over the past 5 years, SVXY returned 15.76%/yr vs 17.73%/yr for OILK. At a 0.18 correlation, their price movements are largely independent. SVXY charges 1.38%/yr vs 0.68%/yr for OILK.
Performance
SVXY vs. OILK - Performance Comparison
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Returns By Period
In the year-to-date period, SVXY achieves a -0.92% return, which is significantly lower than OILK's 64.22% return.
SVXY
- 1D
- -0.20%
- 1M
- 8.44%
- YTD
- -0.92%
- 6M
- 7.55%
- 1Y
- 33.37%
- 3Y*
- 13.21%
- 5Y*
- 15.76%
- 10Y*
- -1.59%
OILK
- 1D
- 1.40%
- 1M
- -1.65%
- YTD
- 64.22%
- 6M
- 60.70%
- 1Y
- 58.99%
- 3Y*
- 19.03%
- 5Y*
- 17.73%
- 10Y*
- —
SVXY vs. OILK - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
SVXY ProShares Short VIX Short-Term Futures ETF | -0.92% | 10.63% | -3.17% | 76.21% | -4.66% | 48.53% | -36.47% | 54.21% | -91.75% | 181.84% |
OILK ProShares K-1 Free Crude Oil Strategy ETF | 64.22% | -11.86% | 8.18% | -0.97% | 27.57% | 63.71% | -61.09% | 30.48% | -20.40% | 2.82% |
Correlation
The correlation between SVXY and OILK is -0.24, 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 | -0.24 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.02 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.09 |
Correlation (All Time) Calculated using the full available price history since Sep 29, 2016 | 0.18 |
The correlation between SVXY and OILK shifts across timeframes, from -0.24 (1 year) to 0.18 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
SVXY vs. OILK — Risk / Return Rank
SVXY
OILK
SVXY vs. OILK - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ProShares Short VIX Short-Term Futures ETF (SVXY) and ProShares K-1 Free Crude Oil Strategy ETF (OILK). 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.
| SVXY | OILK | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.89 | ||
| Sortino ratioReturn per unit of downside risk | -0.95 | ||
| Omega ratioGain probability vs. loss probability | 1.23 | 1.34 | -0.11 |
| Calmar ratioReturn relative to maximum drawdown | 1.46 | 3.42 | -1.95 |
| Martin ratioReturn relative to average drawdown | 4.78 | 6.91 | -2.13 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| SVXY | OILK | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.17 | 2.06 | -0.89 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.45 | 0.59 | -0.14 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | -0.03 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.22 | 0.12 | +0.10 |
Drawdowns
SVXY vs. OILK - Drawdown Comparison
The maximum SVXY drawdown since its inception was -95.25%, which is greater than OILK's maximum drawdown of -83.76%. Use the drawdown chart below to compare losses from any high point for SVXY and OILK.
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Drawdown Indicators
| SVXY | OILK | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -95.25% | -83.76% | -11.49% |
Max Drawdown (1Y)Largest decline over 1 year | -22.94% | -17.35% | -5.59% |
Max Drawdown (3Y)Largest decline over 3 years | -46.45% | -23.42% | -23.03% |
Max Drawdown (5Y)Largest decline over 5 years | -46.45% | -34.69% | -11.76% |
Max Drawdown (10Y)Largest decline over 10 years | -95.25% | — | — |
Current DrawdownCurrent decline from peak | -80.15% | -3.66% | -76.49% |
Average DrawdownAverage peak-to-trough decline | -56.87% | -32.61% | -24.26% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 7.00% | 8.56% | -1.56% |
Volatility
SVXY vs. OILK - Volatility Comparison
The current volatility for ProShares Short VIX Short-Term Futures ETF (SVXY) is 3.76%, while ProShares K-1 Free Crude Oil Strategy ETF (OILK) has a volatility of 10.44%. This indicates that SVXY experiences smaller price fluctuations and is considered to be less risky than OILK based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SVXY | OILK | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.76% | 10.44% | -6.68% |
Volatility (6M)Calculated over the trailing 6-month period | 21.42% | 23.26% | -1.84% |
Volatility (1Y)Calculated over the trailing 1-year period | 28.62% | 28.75% | -0.13% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 35.38% | 30.12% | +5.26% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 50.75% | 35.97% | +14.78% |
SVXY vs. OILK - Expense Ratio Comparison
SVXY has a 1.38% expense ratio, which is higher than OILK's 0.68% expense ratio.
Dividends
SVXY vs. OILK - Dividend Comparison
SVXY has not paid dividends to shareholders, while OILK's dividend yield for the trailing twelve months is around 8.18%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
OILK ProShares K-1 Free Crude Oil Strategy ETF | 8.18% | 4.79% | 3.11% | 5.80% | 17.32% | 68.82% | 0.13% | 0.94% | 0.58% | 6.17% |
SVXY ProShares Short VIX Short-Term Futures ETF | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
SVXY and OILK have a correlation of -0.24, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
OILK has higher volatility (10.44%) compared to SVXY (3.76%). In terms of maximum drawdown, SVXY dropped -95.25% vs OILK's -83.76%.
On 5-year performance, OILK leads with 17.73% vs 15.76% for SVXY. On fees, OILK is cheaper at 0.68% per year. On volatility, SVXY has been the lower-risk option at 3.76%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, OILK has performed better with a 17.73% return vs 15.76%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
OILK is cheaper with a 0.68% expense ratio, compared with 1.38% for SVXY.
OILK has the higher dividend yield at 8.18%, compared with 0.00% for SVXY.
SVXY is categorized as Volatility, while OILK is Oil & Gas. SVXY tracks S&P 500 VIX Short-Term Futures Index (-100%), while OILK tracks Bloomberg Commodity Balanced WTI Crude Oil Index. Their fees differ too: 1.38% for SVXY and 0.68% for OILK.
OILK currently has the higher Sharpe Ratio (2.06 vs 1.17), 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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