USHY vs. OILK
USHY (iShares Broad USD High Yield Corporate Bond ETF) and OILK (ProShares K-1 Free Crude Oil Strategy ETF) are both exchange-traded funds - USHY is a High Yield Bonds fund tracking the ICE BofA US High Yield Constrained Index, 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, USHY returned 4.29%/yr vs 17.28%/yr for OILK. At a 0.16 correlation, their price movements are largely independent. USHY charges 0.15%/yr vs 0.68%/yr for OILK.
Performance
USHY vs. OILK - Performance Comparison
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Returns By Period
In the year-to-date period, USHY achieves a 1.64% return, which is significantly lower than OILK's 61.09% return.
USHY
- 1D
- 0.22%
- 1M
- 0.46%
- YTD
- 1.64%
- 6M
- 1.98%
- 1Y
- 6.99%
- 3Y*
- 9.01%
- 5Y*
- 4.29%
- 10Y*
- —
OILK
- 1D
- -1.91%
- 1M
- -2.15%
- YTD
- 61.09%
- 6M
- 56.40%
- 1Y
- 56.95%
- 3Y*
- 18.39%
- 5Y*
- 17.28%
- 10Y*
- —
USHY vs. OILK - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
USHY iShares Broad USD High Yield Corporate Bond ETF | 1.64% | 8.81% | 8.45% | 12.73% | -11.18% | 5.02% | 6.17% | 14.24% | -2.41% | 0.16% |
OILK ProShares K-1 Free Crude Oil Strategy ETF | 61.09% | -11.86% | 8.18% | -0.97% | 27.57% | 63.71% | -61.09% | 30.48% | -20.40% | 14.30% |
Correlation
The correlation between USHY and OILK is -0.34, 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 | -0.34 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.06 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.05 |
Correlation (All Time) Calculated using the full available price history since Oct 27, 2017 | 0.16 |
The correlation between USHY and OILK shifts across timeframes, from -0.34 (1 year) to 0.16 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
USHY vs. OILK — Risk / Return Rank
USHY
OILK
USHY vs. OILK - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Broad USD High Yield Corporate Bond ETF (USHY) 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.
| USHY | OILK | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.06 | ||
| Sortino ratioReturn per unit of downside risk | +0.39 | ||
| Omega ratioGain probability vs. loss probability | 1.37 | 1.33 | +0.04 |
| Calmar ratioReturn relative to maximum drawdown | 2.89 | 3.30 | -0.41 |
| Martin ratioReturn relative to average drawdown | 12.99 | 6.67 | +6.32 |
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
| USHY | OILK | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.93 | 1.99 | -0.06 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.59 | 0.58 | +0.01 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.58 | 0.11 | +0.47 |
Drawdowns
USHY vs. OILK - Drawdown Comparison
The maximum USHY drawdown since its inception was -22.44%, smaller than the maximum OILK drawdown of -83.76%. Use the drawdown chart below to compare losses from any high point for USHY and OILK.
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Drawdown Indicators
| USHY | OILK | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -22.44% | -83.76% | +61.32% |
Max Drawdown (1Y)Largest decline over 1 year | -2.43% | -17.35% | +14.92% |
Max Drawdown (3Y)Largest decline over 3 years | -4.66% | -23.42% | +18.76% |
Max Drawdown (5Y)Largest decline over 5 years | -15.56% | -34.69% | +19.13% |
Current DrawdownCurrent decline from peak | -0.06% | -5.49% | +5.43% |
Average DrawdownAverage peak-to-trough decline | -2.66% | -32.60% | +29.94% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.54% | 8.57% | -8.03% |
Volatility
USHY vs. OILK - Volatility Comparison
The current volatility for iShares Broad USD High Yield Corporate Bond ETF (USHY) is 1.14%, while ProShares K-1 Free Crude Oil Strategy ETF (OILK) has a volatility of 10.52%. This indicates that USHY 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
| USHY | OILK | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.14% | 10.52% | -9.38% |
Volatility (6M)Calculated over the trailing 6-month period | 2.92% | 23.32% | -20.40% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.65% | 28.82% | -25.17% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 7.34% | 30.13% | -22.79% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 8.25% | 35.97% | -27.72% |
USHY vs. OILK - Expense Ratio Comparison
USHY has a 0.15% expense ratio, which is lower than OILK's 0.68% expense ratio.
Dividends
USHY vs. OILK - Dividend Comparison
USHY's dividend yield for the trailing twelve months is around 6.91%, less than OILK's 8.34% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
OILK ProShares K-1 Free Crude Oil Strategy ETF | 8.34% | 4.79% | 3.11% | 5.80% | 17.32% | 68.82% | 0.13% | 0.94% | 0.58% | 6.17% |
USHY iShares Broad USD High Yield Corporate Bond ETF | 6.91% | 6.79% | 6.89% | 6.63% | 6.08% | 5.07% | 5.30% | 5.92% | 6.30% | 0.73% |
Frequently Asked Questions
USHY and OILK have a correlation of -0.34, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
OILK has higher volatility (10.52%) compared to USHY (1.14%). In terms of maximum drawdown, USHY dropped -22.44% vs OILK's -83.76%.
On 5-year performance, OILK leads with 17.28% vs 4.29% for USHY. On fees, USHY is cheaper at 0.15% per year. On volatility, USHY has been the lower-risk option at 1.14%. 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 17.28% return vs 4.29%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
USHY is cheaper with a 0.15% expense ratio, compared with 0.68% for OILK.
OILK has the higher dividend yield at 8.34%, compared with 6.91% for USHY.
USHY is categorized as High Yield Bonds, while OILK is Oil & Gas. USHY tracks ICE BofA US High Yield Constrained Index, while OILK tracks Bloomberg Commodity Balanced WTI Crude Oil Index. They also come from different issuers: iShares and ProShares. Their fees differ too: 0.15% for USHY and 0.68% for OILK.
OILK currently has the higher Sharpe Ratio (1.99 vs 1.93), 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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