OILDProShares UltraPro 3x Short Crude Oil ETF
OILD Fund Description
The ProShares UltraPro 3x Short Crude Oil ETF provides daily -3x inverse exposure to an index of WTI crude oil futures contracts.
OILD Factset Analytics Insight
Like most geared products, OILD is intended as a trading tool, not a buy-and-hold investment. The fund provides -3x exposure to its index for a one-day period. The daily reset function means investors holding OILD for longer periods are exposed to the effects of compounding, and could see returns that vary greatly from -3x exposure. OILD’s Bloomberg index tracks WTI crude contracts that are rolled every other month, striking a balance between spot-price sensitivity, turnover, and contango effects.
As a commodity pool, OILD will issue a K-1 form at tax time. Taxable investors will pay a blended rate (60% LT/40% ST) on capital gains, realized or not. OILD provides the same exposure as sibling WTID, which is organized as an ETN. OILU is OILD’s 3x-long counterpart, while OIIL from Credit Suisse tracks the same index without leverage.
OILD CHARTS AND PERFORMANCE
OILD Summary Data
OILD Portfolio Data
OILD Index Data
OILD Fund Structure
OILD Tax Exposures
OILD Factset Analytics Block Liquidity
This measurement shows how easy it is to trade a $1 million USD block of OILD. OILD is rated a N/A out of 5.
Options Strategies for Outcome Investing
A collar strategy is a protective option strategy constructed by writing a call and buying a put with the same expiration date while being long the underlying security.
A covered call is an income strategy constructed by writing a call option against a holding of the underlying security.