OIH Fund Description

The Market Vectors Oil Services ETF tracks an index of 25 of the largest US-listed, publicly traded oil services companies.

OIH ETF.com Insight

OIH had a makeover in late 2011 as the old 'Oil HOLDRS' was taken over by Van Eck and turned into a living, breathing ETF, with new management, huge assets and a simple strategy aimed atthe revamped OIH is a viable and efficient option for those looking at oil capturing the 25 largest US-listed oil services companies. Due to its listing-focused selection process, OIH tilts away from our globally oriented segment benchmark. Although 8% of its portfolio is focused overseas, OIH overweights the US and makes its own sector bets. With over $1.4 billion in AUM, however, OIH is one of the most popular ETFs with investors. Trading didn't suffer after the regime change either: the fund trades around $160 million on a typical day, and spreads average just a penny. Overall, the revamped ETF is the only choice for exposure to this slice of the market and, as our Analyst Pick, it's not a bad one either (efficient and liquid). (Insight updated 09/03/2014)

  • 1 Month

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  • YTD

  • 1 Year

  • 3 Years

  • 5 Years

  • Max

Performance [as of 12/18/14]
1 Month
3 Month
YTD
1 Year
3 Years
5 Years
10 Years

OIH
-16.16% -29.92% -24.24% -22.44% -- -- --

OIH (NAV)
-16.20% -29.95% -24.28% -22.44% -- -- --

Market Vectors US Listed Oil Services 25 Index
-16.13% -29.88% -24.08% -22.21% -- -- --
All returns over 1 year are annualized. All returns are total returns unless otherwise stated.

OIH Top 10 Countries

OIH Top 10 Sectors

OIH Top 10 Holdings View All

OIH Summary Data

Issuer Van Eck

A company that produces and manages ETFs.

Inception Date 12/20/11

The first date of a fund's operations, as documented by the issuer.

Legal Structure Open-Ended Fund

The organizational structure of the fund or ETN.

Expense Ratio 0.35%

The net total annual fee a fund holder pays to the issuer.

Assets Under Management $1.09 B

The market value of total assets that a fund has accumulated and now manages on behalf of investors.

Average Daily $ Volume $436.12 M

It is the daily dollar value of shares traded, averaged over the past 45 trading days.

(%) | The difference between the highest price a market participant is willing to pay to buy an ETF and the lowest price at which a market participant is willing to sell an ETF, averaged over the past 45 days, as a percent." href="javascript:void(0)" class="term">Average Spread (%) 0.03%

The difference between the highest price a market participant is willing to pay to buy an ETF and the lowest price at which a market participant is willing to sell an ETF, averaged over the past 45 days, as a percent.

OIH Portfolio Data

Weighted Average Market Cap $36.91 B

Describes the average of each stock's market cap (share price x shares outstanding) scaled by its weight in the portfolio.

Price / Earnings Ratio 13.82

Weighted average ratio of prices of a fund’s stocks to trailing earnings of underlying stocks.

Price / Book Ratio 1.40

Weighted average ratio of prices of a fund’s stocks to the book value of underlying equity.

Distribution Yield 1.49%

The ratio of distributions paid by the fund over the past 12 months, divided by the fund’s NAV.

Next Ex-Dividend Date 12/29/14

The date on which a security's price excludes an upcoming dividend.

Number of Holdings 26

The number of securities held in the fund as of ETF.com’s analysis date, based on issuer portfolios or the creation basket. If an ETF holds other ETFs, we count every constituent, looking through the ETF wrapper.

OIH Index Data

Index Tracked Market Vectors US
Listed Oil Services 25 Index

This is the benchmark an ETF is desigend to track or replicate.

Index Weighting Methodology Market Cap

A set of rules that the underlying index provider follows to weight its constituent securities.

Index Selection Methodology Market Cap

A set of rules that the underlying index provider follows to select its constituent securities.

Segment Benchmark Thomson Reuters Global Oil & Gas Rltd Eqpmt and Svcs

This is the index that we have chosen as the best-in-class gauge for each segment's broad market.

Related ETFs to OIH

Top Competing ETFs FRAK, IOIL, FILL

ETFs from within the same segment or closely related segments with similar investment objectives or market exposures.

OIH Commentary & News

1 December 2014
Kotok: Sell XLE, Buy DXJ On Lower Oil | ETF.com
Cinthia Murphy
20 October 2014
Global ETFs | ETF.com

OIH ETF.com Efficiency Insight

OIH recently had a makeover when its management was transferred from Merrill Lynch to Van Eck. At 35 bps, the fund has a relatively low price tag. With about $1.4 billion in assets, OIH has benefited from the legacy of its previous self. The fund is actively engaged in securities lending and rebates 100% of net lending revenues to the fund which ought to help the fund track its index well. (Insight updated 09/03/2014)


Total Return - 12/18/2014

  • 1 Month

  • 3 Months

  • YTD

  • 1 Year

  • 3 Years

  • 5 Years

  • Max

Performance [as of 12/18/14]
1 Month
3 Month
YTD
1 Year
3 Years
5 Years
10 Years

OIH
-16.16% -29.92% -24.24% -22.44% -- -- --

OIH (NAV)
-16.20% -29.95% -24.28% -22.44% -- -- --

Market Vectors US Listed Oil Services 25 Index
-16.13% -29.88% -24.08% -22.21% -- -- --

Thomson Reuters Global Oil & Gas Rltd Eqpmt and Svcs
-11.15% -20.26% -10.83% -7.51% 5.60% 6.47% --
All returns over 1 year are annualized. All returns are total returns unless otherwise stated.

OIH Portfolio Management

Expense Ratio 0.35%

The net annual fee a fund holder pays to the issuer.

(12 Mo) | Compares returns of the fund's NAV to its underlying index for a daily series of overlapping 12 month periods. The median is the middle value of the results." href="javascript:void(0)" class="term">Median Tracking Difference (12 Mo) -0.36%

Compares returns of the fund's NAV to its underlying index for a daily series of overlapping 12 month periods. The median is the middle value of the results.

OIH Tax Exposures

Max LT/ST Capital Gains Rate 20.00% / 39.60%

The maximum long-term and short-term U.S. tax rates applicable to a realized capital gain.

Tax on Distributions Qualified dividends

IRS treatment of the majority of the fund's distributions.

Distributes K1 No

ETFs that are structured as commodities pools and classified as limited partnerships by the IRS will issue K-1 forms to holders.

OIH Fund Structure

Legal Structure Open-Ended Fund

The organizational structure of the fund or ETN.

OTC Derivative Use No

An indicator of whether a fund uses over-the-counter derivatives such as swaps or forwards to achieve its objectives.

Securities Lending Active Yes

An indicator of whether or not a fund actively lends its portfolio holdings.

ETN Counterparty N/A

The institution responsible for providing the return of the stated index and whose credit is the sole backing of the ETN.

ETN Counterparty Risk N/A

The risk of default by the ETN counterparty.

Fund Closure Risk Low

The likelihood that an issuer will shut down a fund for business or regulatory reasons.

Portfolio Disclosure Daily

The frequency of an issuer's disclosure of all fund holdings.

OIH ETF.com Tradability Insight

When it comes to liquidity, OIH should receive a standing ovation. The fund trades about $160 million on a given day, with average spreads of just 1 cent. Both large and small investors will find OIH's on-screen liquidity deep and adequate. OIH's block liquidity score suggests that those using liquidity providers will likely get a fair deal when trading the fund in size. (Insight updated 09/03/2014)

Average Spread

Premium/Discount

Volume

OIH ETF.com/ Block LiquidityAs of 12/19/2014

5
4
3
2
1

This measurement shows how easy it is to trade 25,000 shares of OIH. OIH is rated a 5 out of 5.

OIH Tradability

Avg. Daily Share Volume 10,593,139

It is the daily number of shares traded, averaged over the past 45 trading days.

Average Daily $ Volume $436.12 M

It is the daily dollar value of shares traded, averaged over the past 45 trading days.

Median Daily Share Volume 9,530,539

Median number of shares traded over the past 45 trading days.

(%) | The difference between the highest price a market participant is willing to pay to buy an ETF and the lowest price at which a market participant is willing to sell an ETF, averaged over the past 45 days, as a percent." href="javascript:void(0)" class="term">Average Spread (%) 0.03%

The difference between the highest price a market participant is willing to pay to buy an ETF and the lowest price at which a market participant is willing to sell an ETF, averaged over the past 45 days, as a percent.

($) | The difference between the highest and lowest posted prices for an ETF, averaged over the past 45 days, in dollars." href="javascript:void(0)" class="term">Average Spread ($) $0.01

The difference between the highest and lowest posted prices for an ETF, averaged over the past 45 days, in dollars.

(12 Mo) | The greatest amount that the market price exceeded (premium) and fell below (discount) its fair value/net asset value (NAV) over a maximum 12-month period." href="javascript:void(0)" class="term">Max. Premium / Discount (12 Mo) 0.09% / -0.15%

The greatest amount that the market price exceeded (premium) and fell below (discount) its fair value/net asset value (NAV) over a maximum 12-month period.

Impediment to Creations None

This flags whether there is currently a systemic issue that has restricted the ability to create or redeem shares of the fund. This may be imposed by the fund's issuer, or by external circumstances.

Market Hours Overlap 100.00%

The percent of time that the underlying securities of an ETF are open to trading while US exchanges are open.

(Shares) | The smallest block of ETF shares that an Authorized Participant can either create or redeem at net asset value (NAV) with the issuer in exchange for the underlying shares of the fund." href="javascript:void(0)" class="term">Creation Unit Size (Shares) 50,000

The smallest block of ETF shares that an Authorized Participant can either create or redeem at net asset value (NAV) with the issuer in exchange for the underlying shares of the fund.

(45 Day Average) | The median 45 day share volume divided by the creation unit size of the fund. The higher the number, the more likely that liquidity providers will trade the fund in size, or in odd lots." href="javascript:void(0)" class="term">Creation Unit/Day (45 Day Average) 190.61

The median 45 day share volume divided by the creation unit size of the fund. The higher the number, the more likely that liquidity providers will trade the fund in size, or in odd lots.

(%) | The standard fee to create or redeem 1 creation unit of an ETF as a percentage of the dollar value of 1 creation unit." href="javascript:void(0)" class="term">Creation Unit Cost (%) 0.06%

The standard fee to create or redeem 1 creation unit of an ETF as a percentage of the dollar value of 1 creation unit.

Underlying Volume / Unit 0.05%

This metric serves as a way of understanding the impact of executing 1 creation unit worth of an ETF in terms of the volume of its underlying components.

Open Interest on ETF Options 396,981

The total number of net outstanding options contracts for an ETF.

ETF.com Implied Liquidity 5

An estimate of liquidity for the underlying baskets of securities, scaled 1 to 5.

OIH ETF.com Fit Insight

OIH approaches the Global Oil & Gas Equipment and Services segment through the lens of US-listed firms, creating a predictable US overweight, but ADRs give it solid international exposure. OIH captures a chunk of the space, but industry tilts are pronounced, as it overweights drilling firms while ignoring fuel transportation companies. OIH tilts heavily towards large-caps as well. Its US-listed focus leaves out major Canadian players. (Insight updated 09/03/2014)

OIH Geographic ExposureView All

Countries OIH Segment Benchmark
United States 72.80% 91.82%

United Kingdom 1.81% 4.47%

Luxembourg 1.00% 3.71%

Egypt 0.02% --

Malaysia 0.63% --

Viet Nam 0.09% --

France 1.17% --

Netherlands 0.32% --

Hong Kong 0.03% --

Other 22.13% 0%

Regions OIH Segment Benchmark
North America 87.13% 91.82%

Europe 8.99% 8.18%

Asia-Pacific 3.59% --

Developed /
Emerging Split
97.56% / 2.44% 100.00% / --

OIH Performance Statistics

Beta 1.22

The sensitivity of the returns of the fund to the movement of the ETF.com segment benchmark. Beta of 1.0 means magnitude of fund returns equals that of IU benchmark returns.

Annualized Alpha -14.73%

The excess return of fund relative to ETF.com segment benchmark on a risk adjusted basis. Only reported if statistically significant.

Up Beta 1.11

The comparison of a fund's return to our benchmark's for days when the benchmark is up. Ideally down beta is less than up beta while beta of 1.0 means they're equal.

Down Beta 1.25

The comparison of a fund's return to our benchmark's for days when the benchmark is down. Ideally down beta is less than up beta while beta of 1.0 means they're equal.

Downside Standard Deviation 0.65%

A measure of the variability between the fund's returns and the ETF.com segment benchmark returns on days when the fund underperforms the benchmark.

Segment Benchmark Thomson Reuters Global Oil & Gas Rltd Eqpmt and Svcs

This is the index that we have chosen as the best-in-class gauge for each segment's broad market.

OIH Benchmark Comparison

OIH
26 Holdings
Segment Benchmark
212 Constituents
Shared Holdings
23 (Count)
 
35.25% (Weight)
OIHSegment Benchmark
Market Cap | The average market capitalization of the firms in the portfolio based on each firm’s weighting in the portfolio." href="javascript:void(0)" class="term">Weighted Average
Market Cap
$33.87 B$36.91 B

The average market capitalization of the firms in the portfolio based on each firm’s weighting in the portfolio.

Size Split

The breakdown of the portfolio’s holdings into each market capitalization bucket based on each firm’s weighting in the portfolio.

Large (>12.9B)62%52%
Mid (>2.7B)27%43%
Small (>600M)10%5%
Micro (<600M)2%0%
Price / Book Ratio2.111.40

Weighted average ratio of prices of a fund’s stocks to the book value of underlying equity.

Dividend Yield3.29%3.28%

The weighted average of the current yield on the portfolio’s holdings.

Holdings | The number of securities held in the fund as of ETF.com’s analysis date, based on issuer portfolios or the creation basket. If an ETF holds other ETFs, we count every constituent, looking through the ETF wrapper." href="javascript:void(0)" class="term">Number Of
Holdings
21226

The number of securities held in the fund as of ETF.com’s analysis date, based on issuer portfolios or the creation basket. If an ETF holds other ETFs, we count every constituent, looking through the ETF wrapper.

ConcentrationMediumHigh

The level of return contribution attributable to the average portfolio constituent.