ETF Evaluator:
ProShares K-1 Free Crude Oil ETF (OILK)
Follow This ETF
(as of Jul 31)
Best Performing in Commodities Focused Over the Last Year
| 1324.4% | Breakwave Tanker Shipping ETF (BWET) |
| 70.1% | United States Gasoline (UGA) |
| 62.9% | abrdn Physical Silver Shares ETF (SIVR) |
| 62.6% | iShares Silver Trust (SLV) |
| 54.9% | USCF Sustainable Battery Metals Stgy Fd (ZSB) |
Risk
Index
Risk
Index
ETF Details
ProShares K-1 Free Crude Oil ETF Overview
ProShares K-1 Free Crude Oil ETF (OILK) is a passively managed Commodities Commodities Focused exchange-traded fund (ETF). ProShares launched the ETF in 2016.
The investment seeks investment results, before fees and expenses, that track the performance of the Bloomberg Commodity Balanced WTI Crude Oil IndexSM.
The fund invests in financial instruments that ProShare Advisors believes, in combination, should track the performance of the index. The index is designed to measure the performance of three separate contract schedules for West Texas Intermediate (“WTI”) Crude Oil futures.
About ProShares K-1 Free Crude Oil ETF (OILK)
There are 2 members of the management team with an average tenure of 5.09 years: Alexander Ilyasov (2020) and George Banian (2022). Management tenure is more important for actively managed ETFs than passive index ETFs.
The ETF has 2 primary benchmarks: S&P 500 (TR) (1970) index with a weighting of 100% and Bloomberg Cmdt Bal WTI Crd Oil TR USD index with a weighting of 100%. ProShares K-1 Free Crude Oil ETF has 4 securities in its portfolio. The top 10 holdings constitute 100.0% of the ETF’s assets. The ETF meets the SEC requirement of being classified as a diversified fund. The ETF is not considered to have an ESG focus with its investment selection and management.
ProShares K-1 Free Crude Oil ETF is part of the Real Assets global asset class and is within the Commodities ETF group. ProShares K-1 Free Crude Oil ETF has 16.0% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 0.0% There is 16.0% allocated to foreign stock, and 0.0% is allocated to preferred stocks. The bond allocation as a percentage of total assets is 0.0% (0.0% domestic bond, 0.0% foreign bond and 0.0% convertible bond). ProShares K-1 Free Crude Oil ETF has 65.7% of the portfolio in cash.
Assets Under Management
The fund has $221 million in total assets, which is below the $4 billion average for the Commodities Focused category. Normally, lower assets under management translates to higher average expense ratios, and greater total assets are desired. However, for some investment categories, such as small-cap investing, it may be difficult for the manager to fully employ the desired active strategy if assets grow too large or too quickly.
OILK Performance and Fees
The expense ratio measures how much of a fund’s assets are used for administrative expenses and operating expenses, including adviser fees and fees for the transfer agent and custodial services. The ProShares K-1 Free Crude Oil ETF expense ratio is above average compared to funds in the Commodities Focused category. ProShares K-1 Free Crude Oil ETF has an expense ratio of 0.69%, which is 9% lower than its category average, making the fund expense ratio grade a B. While it is difficult to predict returns, it is known that high annual expense ratios reduce your rate of return, and excessive fees are difficult to overcome. Active management normally comes with higher expense ratios than passive index management. Certain investment categories such as small company and foreign also normally have higher expense ratios. It is best to compare fund expense ratios against the category averages for meaningful assessments.
High portfolio turnover can translate to higher expenses and lower aftertax returns. ProShares K-1 Free Crude Oil ETF has a portfolio turnover rate of 0%, which indicates that it holds its assets around /years. By way of comparison, the average portfolio turnover is 15% for the Commodities Focused category.
Recently, in the month of June 2026, ProShares K-1 Free Crude Oil ETF returned -12.6%, which earned it a grade of D, as the Commodities Focused category had an average return of -10.3%. The letter grades of A, B, C, D and F are based upon relative rankings within the investment category. A grade of A, for example, would indicate that the return is in the highest 20% for that time period compared to all ETFs in that category.
ProShares K-1 Free Crude Oil ETF has a trailing yield of 9.89%, which is above the 6.89% category average.
The fund normally distributes its income monthly.
It’s natural to seek the best-performing investments, but you must consider the relationship between risk and return and the impact of costs and taxes on your realized returns.
ProShares K-1 Free Crude Oil ETF Grades
Year to date, the ETF has returned 35.6%, 20.1 percentage points better than the category, which translates into a grade of A. The fund has returned 28.3% over the past year (grade of B), 11.8% over the past three years (grade of D) and 12.1% per year over the past five years (grade of C).
For more ETF grades, analysis and screening tools to help your investment discovery, join AAII for a $2, full-access trial. Learn more here: https://invest.aaii.com/membership.
Otherwise, for more information about ProShares K-1 Free Crude Oil ETF, including its riskiness, submit your email to unlock the rest of the article.
Gain access to exclusive AAII member-only content.
OILK Trailing NAV Total Returns Data as of 6/30/26
| Last Month |
Last Quarter |
Ann'l. 1Yr |
Ann'l. 3Yr |
Ann'l. 5Yr |
Ann'l. 10Yr |
|
| OILK Return (NAV) | -12.6% | -6.6% | 28.3% | 11.8% | 12.1% | na |
| OILK Return (Price) | -12.5% | -6.5% | 29.4% | 12.1% | 12.3% | na |
| NAV +/- Price Return | -0.089% | -0.026% | -1.065% | -0.275% | -0.150% | na |
| Commodities Focused Avg | -10.3% | -8.3% | 43.7% | 14.0% | 8.9% | 5.2% |
| OILK Grade (NAV) | D | B | B | D | C | na |
| +/- Category (NAV) | -2.4% | 1.8% | -15.4% | -2.2% | 3.3% | na |
| OILK Tax-Cost Ratio | na | na | 3.6% | 2.5% | 6.5% | na |
OILK Annual NAV Total ReturnsData as of 6/30/26
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
| OILK Return (NAV) | 35.6% | -11.8% | 7.7% | -0.4% | 28.0% | 62.3% | -61.0% | 31.6% | -21.4% | 2.9% | na |
| OILK Return (Price) | 36.6% | -11.9% | 8.2% | -1.0% | 27.5% | 63.4% | -61.1% | 30.5% | -20.4% | 2.7% | na |
| NAV +/- Price Ret | 0.025% | 0.008% | 0.073% | 1.182% | -0.016% | 0.018% | 0.002% | -3.5% | -4.5% | -9.1% | na |
| Commodities Focused Avg | 15.5% | 35.6% | 6.2% | -1.1% | 9.2% | 27.8% | 1.5% | 14.9% | -9.5% | 3.1% | 10.0% |
| OILK Grade (NAV) | A | F | C | C | A | A | F | A | F | D | na |
| +/- Category | 20.1% | -47.4% | 1.4% | 0.6% | 18.8% | 34.4% | -62.4% | 16.7% | -11.9% | -0.2% | na |
| Risk Measures | |
| Beta: | 1.37 |
| R-Squared: | 51% |
| Standard Deviation: | 25.7% |
| Category Risk Index: | 1.02 |
| Category Risk Rating: | Above Average |
| Total Risk Index: | 2.11 |
| Total Risk Rating: | High |
| Portfolio Characteristics | |
| Yield: | 9.9% |
| Total Assets: | $ 221 Mil |
| Share Class Assets: | $ 221 Mil |
| Turnover: | na |
| Expense Ratio: | 0.69% |
| Index Fund: | Yes |
| Index Tracked: | S&P 500 (TR) (1970) |
| Index Weighting: | 100% |
| Leveraged: | No |
| Socially Responsible Fund: | No |
| Capital Gains Distribution Frequency: | |
| Income Distribution Frequency: | Monthly |
Management Team
| Number of Managers: 2 | |||
| Longest Tenure: 5.9 years | |||
| Average Tenure: 5.1 years | |||
| Managers (Year): Ilyasov Alexander (2020), Banian George (2022) | |||
Portfolio Composition (as of 6/30/26)
| # of Holdings: | 4 |
| % in Top 10 Holdings: | 100.0% |
| Fund is Non-Diversified: | No |
| % in Foreign Issues: | 16.0% |
Portfolio Allocation |
|
| Domestic Stock: | 0.0% |
| Foreign Stock: | 16.0% |
| Preferred Stock: | 0.0% |
| Domestic Bond: | 0.0% |
| Foreign Bond: | 0.0% |
| Convertible Bond: | 0.0% |
| Other: | 18.4% |
| Cash: | 65.7% |
Purchase Information
| Legal Structure: | Open Ended Investment Company |
| Fund Family: | ProShares |
| Phone Number: | 866-776-5125 |
| Website: | www.proshares.com |
| Inception Date: | September 26, 2016 |
Expenses and Fees
| Expense Ratio (%): | 0.69% (Rating: Above Avg) |
| Category Average Expense Ratio (%): | 0.76% |
