OIH vs SPY
VanEck Oil Services ETF vs State Street SPDR S&P 500 ETF Trust
Which is better, OIH or SPY?
Small Cap Value against Large Cap Blend.
SPY has a lower expense ratio. OIH led over 1Y and 5Y, SPY over 3Y and the full window. SPY is less concentrated, with 37.8% of the fund in its ten largest positions against 70.1%.
MarketXLS is not an investment adviser. This comparison is generated automatically from market data and is for information only. A Best mark means the better reading on that one measure, not a recommendation to buy.
Side-by-Side Comparison
| Metric | OIH | SPY |
|---|---|---|
| Expense Ratio | 0.35% | 0.09%Best |
| AUM | $2.0B | $804.7B |
| Dividend Yield | 1.17% | 0.98% |
| Holdings | 26 | 505 |
| YTD Return | +33.67%Best | +12.99% |
| 1Y Return | +53.77%Best | +16.73% |
| 3Y Return (annualized) | +5.24% | +22.52%Best |
| 5Y Return (annualized) | +17.03%Best | +13.07% |
| Volatility (annualized) | 36.9% | 15.0%Best |
| Max Drawdown | -94.4% | -56.5%Best |
| $10,000 over 5 years | $21,953Best | $18,481 |
| Top 10 Weight | 70.1% | 37.8%Best |
| Fund Family | VanEck | State Street Investment Management |
| Category | Equity | Equity |
| Style | Small Cap Value | Large Cap Blend |
| Inception | Dec 20, 2011 | Jan 22, 1993 |
Volatility and max drawdown are measured over the window both funds cover: Feb 7, 2001 to Sep 23, 2026 (25.6 years).
OIH vs SPY growth
Month-end closes. Both lines start at 0% in the first month shown, so the gap between them is the difference in growth across that window. The full view covers the 25.6 years both funds cover.
OIH vs SPY Performance
VanEck Oil Services ETF (OIH) is an ETF from VanEck and State Street SPDR S&P 500 ETF Trust (SPY) is an ETF from State Street Investment Management. Over the past year OIH returned +53.77% while SPY returned +16.73%. Year to date, OIH is up 33.67% versus a gain of 12.99% for SPY.
Over three years, OIH compounded at +5.24% per year against +22.52% for SPY; over five years the annualized figures are +17.03% and +13.07% respectively. Across the full 26-year window we track, SPY has the edge at +7.34% annualized vs -0.40%.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
OIH has been the more volatile fund, with annualized monthly volatility of 36.9% compared with 15.0% for SPY. Lower volatility generally means a smoother ride, though it often comes with lower long-run returns.
The deepest peak-to-trough decline in our data was -94.4% for OIH and -56.5% for SPY. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at 0.60. They move together some of the time, and apart the rest.
Fees and Cost Over Time
OIH charges 0.35% per year while SPY charges 0.09%. On a $10,000 position that is $35 vs $9 annually, a gap of $26 per year that compounds over a long holding period. On income, OIH currently yields 1.17% against 0.98% for SPY.
Holdings Overlap
38.2% of OIH's money is in holdings SPY also owns. 0.3% of SPY's money is in holdings OIH also owns.
The two portfolios partly overlap.
3 positions in common, counted across the 25 positions we hold weights for in OIH and 504 in SPY, against full books of 26 and 505.
What only one of them owns
Our book lists 494 positions for SPY that do not appear in our book for OIH (99.1% of the fund), and 18 for OIH that do not appear in SPY (41.2%).
Some of those will be the same company recorded under a different code in one of the two books, so the real difference in what you would own is no larger than this and may be smaller. We do not name the individual positions here for that reason.
38.2% of OIH is already inside SPY.
You probably hold more than these two. Add the rest and see how much of the whole book is the same companies twice.
Free for up to 10 holdings. No account needed.
Frequently Asked Questions
Which is cheaper, OIH or SPY?
OIH has an expense ratio of 0.35% while SPY charges 0.09%. SPY is the cheaper option, by $26 a year on a $10,000 investment.
Which performed better, OIH or SPY?
Over the past year OIH returned +53.77% vs +16.73% for SPY, so OIH leads on 1-year performance. Over the longest common window we track (26 years), OIH annualized -0.40% vs +7.34% for SPY. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, OIH or SPY?
OIH has been the more volatile fund at 36.9% annualized versus 15.0% for SPY. Worst drawdown: OIH -94.4% vs SPY -56.5%.
Should I hold both OIH and SPY?
OIH and SPY have a monthly-return correlation of 0.60, so their returns are far enough apart for the mix to behave differently from either one alone. This is information, not a recommendation.
What is the holdings overlap between OIH and SPY?
38.2% of OIH's money is in holdings SPY also owns. 0.3% of SPY's is in holdings OIH also owns. They hold 3 positions in common, counted across the 25 positions we hold weights for in OIH and 504 in SPY.
Which pays a higher dividend, OIH or SPY?
OIH yields 1.17% while SPY yields 0.98%, so OIH currently pays the higher dividend yield.
Is SPY better than OIH?
SPY has a lower expense ratio. OIH led over 1Y and 5Y, SPY over 3Y and the full window. SPY is less concentrated, with 37.8% of the fund in its ten largest positions against 70.1%. Which one suits a particular account depends on what it is for. This is information, not a recommendation.