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United States Oil Fund LP (USO)
Performance
Risk-Adjusted Performance
Dividends
Drawdowns
Volatility

ETF Info

ISIN

US91232N2071

CUSIP

00091232N207

Inception Date

Apr 10, 2006

Category

Oil & Gas

Leveraged

1x

Index Tracked

Front Month Light Sweet Crude Oil

Asset Class

Commodity

Expense Ratio

USO has an expense ratio of 0.79%, placing it in the medium range.


Share Price Chart


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Compare to other instruments

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.


Performance

Performance Chart


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Returns By Period

United States Oil Fund LP (USO) returned -10.54% year-to-date (YTD) and -10.93% over the past 12 months. Over the past 10 years, USO returned -8.48% annually, underperforming the S&P 500 benchmark at 10.79%.


USO

YTD

-10.54%

1M

1.67%

6M

-5.19%

1Y

-10.93%

5Y*

24.82%

10Y*

-8.48%

^GSPC (Benchmark)

YTD

0.60%

1M

9.64%

6M

-0.54%

1Y

11.47%

5Y*

15.67%

10Y*

10.79%

*Annualized

Monthly Returns

The table below presents the monthly returns of USO, with color gradation from worst to best to easily spot seasonal factors. Returns are adjusted for dividends.


JanFebMarAprMayJunJulAugSepOctNovDecTotal
20253.27%-3.59%2.81%-17.81%6.34%-10.54%
20246.41%3.44%7.32%-0.44%-4.54%6.38%-2.32%-4.37%-5.95%4.52%-2.01%5.50%13.35%
2023-1.13%-3.04%-1.15%1.60%-10.18%4.82%15.14%2.58%7.73%-7.22%-6.50%-4.98%-4.94%
202214.94%8.00%9.84%4.10%10.77%-5.99%-2.86%-6.33%-10.71%9.57%-1.82%-0.17%28.97%
20216.57%17.42%-1.89%6.76%4.97%9.82%1.56%-5.17%9.41%8.73%-16.17%13.46%64.68%
2020-15.38%-12.82%-55.45%-43.23%35.36%8.42%3.60%5.19%-7.49%-10.75%22.65%6.59%-67.79%
201917.49%5.29%4.60%6.32%-16.48%8.47%0.00%-4.82%-1.05%-0.35%2.83%10.24%32.61%
20188.08%-4.70%5.82%5.42%-1.81%11.14%-5.18%3.01%5.51%-11.15%-22.19%-9.97%-19.57%
2017-3.41%1.15%-7.07%-3.76%-2.73%-4.62%8.21%-6.32%8.31%4.79%4.94%4.71%2.47%
2016-12.27%-6.74%7.78%16.49%5.04%-2.53%-15.64%6.15%5.50%-3.66%3.80%7.23%6.55%
2015-12.48%1.57%-6.96%21.79%-0.98%-2.12%-21.58%1.92%-7.61%0.89%-12.69%-14.93%-45.97%
2014-1.47%5.57%-0.41%-0.74%3.74%3.18%-6.60%-1.53%-3.78%-10.99%-16.49%-20.41%-42.36%

Risk-Adjusted Performance

Risk-Adjusted Performance Rank

The current rank of USO is 7, meaning it’s performing worse than 93% of other ETFs on our website when it comes to balancing risk and reward. Below is a breakdown of how it compares using common performance measures.


The Risk-Adjusted Performance Rank of USO is 77
Overall Rank
The Sharpe Ratio Rank of USO is 77
Sharpe Ratio Rank
The Sortino Ratio Rank of USO is 77
Sortino Ratio Rank
The Omega Ratio Rank of USO is 88
Omega Ratio Rank
The Calmar Ratio Rank of USO is 1111
Calmar Ratio Rank
The Martin Ratio Rank of USO is 55
Martin Ratio Rank
The risk-adjusted ranks indicate the investment's position relative to the market. A rank closer to 100 signifies top-performing investments, while a rank closer to 0 might suggest underperformance, based on the selected ratio. The values are calculated based on the past 12 months of returns.

Risk-Adjusted Performance Indicators

The charts below present risk-adjusted performance metrics for United States Oil Fund LP (USO) and compare them to a chosen benchmark (^GSPC). These indicators evaluate an investment's returns against its associated risks.


The Sharpe ratio helps investors understand how much return they're getting for the level of risk taken. A higher Sharpe ratio indicates better risk-adjusted performance, meaning more reward for each unit of risk.

United States Oil Fund LP Sharpe ratios as of May 16, 2025 (values are recalculated daily):

  • 1-Year: -0.36
  • 5-Year: 0.73
  • 10-Year: -0.22
  • All Time: -0.28

These values reflect how efficiently the investment has delivered returns relative to its volatility over different time periods. All figures are annualized and based on daily total returns (including price changes and dividends).

The chart below shows the rolling Sharpe ratio of United States Oil Fund LP compared to the selected benchmark. This view highlights how the investment's risk-adjusted performance has changed over time. For deeper analysis or to customize the calculation, use the Sharpe ratio tool.


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Dividends

Dividend History


United States Oil Fund LP doesn't pay dividends

Drawdowns

Drawdowns Chart

The Drawdowns chart displays portfolio losses from any high point along the way. Drawdowns are calculated considering price movements and all distributions paid, if any.


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Worst Drawdowns

The table below displays the maximum drawdowns of the United States Oil Fund LP. A maximum drawdown is a measure of risk, indicating the largest reduction in portfolio value due to a series of losing trades.

The maximum drawdown for the United States Oil Fund LP was 98.19%, occurring on Apr 28, 2020. The portfolio has not yet recovered.

The current United States Oil Fund LP drawdown is 92.81%.


Depth

Start

To Bottom

Bottom

To Recover

End

Total

-98.19%Jul 15, 20082968Apr 28, 2020
-40.98%Jul 14, 2006129Jan 18, 2007199Oct 31, 2007328
-12.04%Jan 3, 200824Feb 6, 20088Feb 19, 200832
-11.18%Nov 21, 200710Dec 5, 200718Jan 2, 200828
-10.48%Apr 24, 200636Jun 13, 200621Jul 13, 200657

Volatility

Volatility Chart

The chart below shows the rolling one-month volatility.


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