TQQQ vs. OILK

Last updated Jun 4, 2026

TQQQ (ProShares UltraPro QQQ) and OILK (ProShares K-1 Free Crude Oil Strategy ETF) are both exchange-traded funds - TQQQ is a Leveraged Equities fund tracking the NASDAQ-100 Index (300%), 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, TQQQ returned 28.37%/yr vs 17.73%/yr for OILK. At a 0.12 correlation, their price movements are largely independent. TQQQ charges 0.95%/yr vs 0.68%/yr for OILK.

Performance

TQQQ vs. OILK - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ProShares UltraPro QQQ (TQQQ) and ProShares K-1 Free Crude Oil Strategy ETF (OILK). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both stocks are quite close, with TQQQ having a 64.46% return and OILK slightly lower at 64.22%.

TQQQ

• 1D: -0.76%
• 1M: 33.35%
• YTD: 64.46%
• 6M: 55.93%
• 1Y: 137.89%
• 3Y*: 69.49%
• 5Y*: 28.37%
• 10Y*: 45.33%

OILK

• 1D: 1.40%
• 1M: -1.65%
• YTD: 64.22%
• 6M: 60.70%
• 1Y: 58.99%
• 3Y*: 19.03%
• 5Y*: 17.73%
• 10Y*: —

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

TQQQ vs. OILK - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
TQQQ ProShares UltraPro QQQ	64.46%	34.35%	58.27%	198.04%	-79.09%	82.98%	110.05%	133.84%	-19.79%	118.06%
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 TQQQ and OILK is -0.27, 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	-0.27
Correlation (3Y) Calculated over the trailing 3-year period	-0.04
Correlation (5Y) Calculated over the trailing 5-year period	0.04
Correlation (All Time) Calculated using the full available price history since Sep 29, 2016	0.12

The correlation between TQQQ and OILK shifts across timeframes, from -0.27 (1 year) to 0.12 (all time), reflecting how their relationship changes across market environments.

TQQQ vs. OILK - Sectors Allocation Comparison

Sectors	TQQQ	OILK
Technology	53.8%	-
Communication Services	15.8%	-
Consumer Cyclical	12.3%	100.0%
Consumer Defensive	7.7%	-
Healthcare	4.2%	-
Industrials	2.8%	-
Utilities	1.4%	-
Basic Materials	1.1%	-
Energy	0.6%	-
Financial Services	0.2%	-
Real Estate	0.1%	-

Return for Risk

TQQQ vs. OILK — Risk / Return Rank

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

TQQQ

TQQQ Risk / Return Rank: 71
TQQQ Sharpe Ratio Rank: 86
TQQQ Sortino Ratio Rank: 65
TQQQ Omega Ratio Rank: 65
TQQQ Calmar Ratio Rank: 73
TQQQ Martin Ratio Rank: 66

OILK

OILK Risk / Return Rank: 55
OILK Sharpe Ratio Rank: 60
OILK Sortino Ratio Rank: 53
OILK Omega Ratio Rank: 54
OILK Calmar Ratio Rank: 68
OILK Martin Ratio Rank: 42

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.

TQQQ vs. OILK - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ProShares UltraPro QQQ (TQQQ) 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.

	TQQQ	OILK	Difference
Sharpe ratio: Return per unit of total volatility	2.92	2.06	+0.85
Sortino ratio: Return per unit of downside risk	3.09	2.59	+0.50
Omega ratio: Gain probability vs. loss probability	1.40	1.34	+0.06
Calmar ratio: Return relative to maximum drawdown	3.75	3.42	+0.34
Martin ratio: Return relative to average drawdown	12.27	6.91	+5.36
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

TQQQ vs. OILK - Sharpe Ratio Comparison

The current TQQQ Sharpe Ratio is 2.92, which is higher than the OILK Sharpe Ratio of 2.06. The chart below compares the historical Sharpe Ratios of TQQQ and OILK, 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

	TQQQ	OILK	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.92	2.06	+0.85
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.43	0.59	-0.16
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.69	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.74	0.12	+0.62

Drawdowns

TQQQ vs. OILK - Drawdown Comparison

The maximum TQQQ drawdown since its inception was -81.66%, roughly equal to the maximum OILK drawdown of -83.76%. Use the drawdown chart below to compare losses from any high point for TQQQ and OILK.

Drawdown Indicators

	TQQQ	OILK	Difference
Max Drawdown Largest peak-to-trough decline	-81.66%	-83.76%	+2.10%
Max Drawdown (1Y) Largest decline over 1 year	-36.97%	-17.35%	-19.62%
Max Drawdown (3Y) Largest decline over 3 years	-58.04%	-23.42%	-34.62%
Max Drawdown (5Y) Largest decline over 5 years	-81.66%	-34.69%	-46.97%
Max Drawdown (10Y) Largest decline over 10 years	-81.66%	—	—
Current Drawdown Current decline from peak	-0.76%	-3.66%	+2.90%
Average Drawdown Average peak-to-trough decline	-18.52%	-32.61%	+14.09%
Ulcer Index Depth and duration of drawdowns from previous peaks	11.28%	8.56%	+2.72%

Volatility

TQQQ vs. OILK - Volatility Comparison

ProShares UltraPro QQQ (TQQQ) has a higher volatility of 13.29% compared to ProShares K-1 Free Crude Oil Strategy ETF (OILK) at 10.44%. This indicates that TQQQ's price experiences larger fluctuations and is considered to be riskier than OILK based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	TQQQ	OILK	Difference
Volatility (1M) Calculated over the trailing 1-month period	13.29%	10.44%	+2.85%
Volatility (6M) Calculated over the trailing 6-month period	36.04%	23.26%	+12.78%
Volatility (1Y) Calculated over the trailing 1-year period	47.60%	28.75%	+18.85%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	66.53%	30.12%	+36.41%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	65.96%	35.97%	+29.99%

TQQQ vs. OILK - Expense Ratio Comparison

TQQQ has a 0.95% expense ratio, which is higher than OILK's 0.68% expense ratio.

Dividends

TQQQ vs. OILK - Dividend Comparison

TQQQ's dividend yield for the trailing twelve months is around 0.36%, less than OILK's 8.18% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
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%	0.00%	0.00%
TQQQ ProShares UltraPro QQQ	0.36%	0.65%	1.27%	1.26%	0.57%	0.00%	0.00%	0.06%	0.11%	0.00%	0.00%	0.01%

Frequently Asked Questions

Can I hold both TQQQ and OILK in my portfolio?

TQQQ and OILK have a correlation of -0.27, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, TQQQ or OILK?

TQQQ has higher volatility (13.29%) compared to OILK (10.44%). In terms of maximum drawdown, TQQQ dropped -81.66% vs OILK's -83.76%.

Which ETF is better, TQQQ or OILK?

On 5-year performance, TQQQ leads with 28.37% vs 17.73% for OILK. On fees, OILK is cheaper at 0.68% per year. On volatility, OILK has been the lower-risk option at 10.44%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, TQQQ or OILK?

Over the 5-year period, TQQQ has performed better with a 28.37% return vs 17.73%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, TQQQ or OILK?

OILK is cheaper with a 0.68% expense ratio, compared with 0.95% for TQQQ.

Which ETF pays a higher dividend yield, TQQQ or OILK?

OILK has the higher dividend yield at 8.18%, compared with 0.36% for TQQQ.

What is the main difference between TQQQ and OILK?

TQQQ is categorized as Leveraged Equities, while OILK is Oil & Gas. TQQQ tracks NASDAQ-100 Index (300%), while OILK tracks Bloomberg Commodity Balanced WTI Crude Oil Index. Their fees differ too: 0.95% for TQQQ and 0.68% for OILK.

Which has better risk-adjusted returns?

TQQQ currently has the higher Sharpe Ratio (2.92 vs 2.06), 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.