XBI vs. OILK

Last updated Jun 4, 2026

XBI (SPDR S&P Biotech ETF) and OILK (ProShares K-1 Free Crude Oil Strategy ETF) are both exchange-traded funds - XBI is a Health & Biotech Equities fund tracking the S&P Biotechnology Select Industry 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, XBI returned 0.59%/yr vs 17.73%/yr for OILK. At a 0.09 correlation, their price movements are largely independent. XBI charges 0.35%/yr vs 0.68%/yr for OILK.

Performance

XBI vs. OILK - Performance Comparison

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

Returns By Period

In the year-to-date period, XBI achieves a 6.48% return, which is significantly lower than OILK's 64.22% return.

XBI

• 1D: 1.62%
• 1M: -2.75%
• YTD: 6.48%
• 6M: 6.92%
• 1Y: 58.25%
• 3Y*: 14.73%
• 5Y*: 0.59%
• 10Y*: 8.53%

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)

XBI vs. OILK - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
XBI SPDR S&P Biotech ETF	6.48%	35.89%	1.01%	7.60%	-25.87%	-20.45%	48.33%	32.56%	-15.28%	43.77%
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 XBI 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	-0.09
Correlation (5Y) Calculated over the trailing 5-year period	0.01
Correlation (All Time) Calculated using the full available price history since Sep 29, 2016	0.09

The correlation between XBI and OILK shifts across timeframes, from -0.27 (1 year) to 0.09 (all time), reflecting how their relationship changes across market environments.

XBI vs. OILK - Sectors Allocation Comparison

Sectors	XBI	OILK
Healthcare	99.8%	-
Financial Services	0.2%	-
Basic Materials	0.2%	-
Communication Services	-	-
Consumer Cyclical	-	100.0%
Consumer Defensive	-	-
Energy	-	-
Industrials	-	-
Real Estate	-	-
Technology	-	-
Utilities	-	-

Return for Risk

XBI vs. OILK — Risk / Return Rank

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

XBI

XBI Risk / Return Rank: 74
XBI Sharpe Ratio Rank: 68
XBI Sortino Ratio Rank: 67
XBI Omega Ratio Rank: 60
XBI Calmar Ratio Rank: 91
XBI Martin Ratio Rank: 85

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.

XBI vs. OILK - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for SPDR S&P Biotech ETF (XBI) 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.

	XBI	OILK	Difference
Sharpe ratio: Return per unit of total volatility	2.30	2.06	+0.24
Sortino ratio: Return per unit of downside risk	3.16	2.59	+0.57
Omega ratio: Gain probability vs. loss probability	1.38	1.34	+0.03
Calmar ratio: Return relative to maximum drawdown	6.02	3.42	+2.61
Martin ratio: Return relative to average drawdown	18.30	6.91	+11.39
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

XBI vs. OILK - Sharpe Ratio Comparison

The current XBI Sharpe Ratio is 2.30, which is comparable to the OILK Sharpe Ratio of 2.06. The chart below compares the historical Sharpe Ratios of XBI 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

	XBI	OILK	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.30	2.06	+0.24
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.02	0.59	-0.57
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.27	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.36	0.12	+0.24

Drawdowns

XBI vs. OILK - Drawdown Comparison

The maximum XBI drawdown since its inception was -63.89%, smaller than the maximum OILK drawdown of -83.76%. Use the drawdown chart below to compare losses from any high point for XBI and OILK.

Drawdown Indicators

	XBI	OILK	Difference
Max Drawdown Largest peak-to-trough decline	-63.89%	-83.76%	+19.87%
Max Drawdown (1Y) Largest decline over 1 year	-9.72%	-17.35%	+7.63%
Max Drawdown (3Y) Largest decline over 3 years	-32.99%	-23.42%	-9.57%
Max Drawdown (5Y) Largest decline over 5 years	-54.71%	-34.69%	-20.02%
Max Drawdown (10Y) Largest decline over 10 years	-63.89%	—	—
Current Drawdown Current decline from peak	-24.96%	-3.66%	-21.30%
Average Drawdown Average peak-to-trough decline	-20.93%	-32.61%	+11.68%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.19%	8.56%	-5.37%

Volatility

XBI vs. OILK - Volatility Comparison

The current volatility for SPDR S&P Biotech ETF (XBI) is 9.26%, while ProShares K-1 Free Crude Oil Strategy ETF (OILK) has a volatility of 10.44%. This indicates that XBI 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.

Volatility by Period

	XBI	OILK	Difference
Volatility (1M) Calculated over the trailing 1-month period	9.26%	10.44%	-1.18%
Volatility (6M) Calculated over the trailing 6-month period	20.18%	23.26%	-3.08%
Volatility (1Y) Calculated over the trailing 1-year period	25.50%	28.75%	-3.25%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	32.18%	30.12%	+2.06%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	32.00%	35.97%	-3.97%

XBI vs. OILK - Expense Ratio Comparison

XBI has a 0.35% expense ratio, which is lower than OILK's 0.68% expense ratio.

Dividends

XBI vs. OILK - Dividend Comparison

XBI's dividend yield for the trailing twelve months is around 0.34%, 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%
XBI SPDR S&P Biotech ETF	0.34%	0.37%	0.15%	0.02%	0.00%	0.04%	0.20%	0.00%	0.28%	0.24%	0.26%	0.61%

Frequently Asked Questions

Can I hold both XBI and OILK in my portfolio?

XBI 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, XBI or OILK?

OILK has higher volatility (10.44%) compared to XBI (9.26%). In terms of maximum drawdown, XBI dropped -63.89% vs OILK's -83.76%.

Which ETF is better, XBI or OILK?

On 5-year performance, OILK leads with 17.73% vs 0.59% for XBI. On fees, XBI is cheaper at 0.35% per year. On volatility, XBI has been the lower-risk option at 9.26%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, XBI or OILK?

Over the 5-year period, OILK has performed better with a 17.73% return vs 0.59%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, XBI or OILK?

XBI is cheaper with a 0.35% expense ratio, compared with 0.68% for OILK.

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

OILK has the higher dividend yield at 8.18%, compared with 0.34% for XBI.

What is the main difference between XBI and OILK?

XBI is categorized as Health & Biotech Equities, while OILK is Oil & Gas. XBI tracks S&P Biotechnology Select Industry Index, while OILK tracks Bloomberg Commodity Balanced WTI Crude Oil Index. They also come from different issuers: State Street and ProShares. Their fees differ too: 0.35% for XBI and 0.68% for OILK.

Which has better risk-adjusted returns?

XBI currently has the higher Sharpe Ratio (2.30 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.