AAPY vs. USL
AAPY (Kurv Yield Premium Strategy Apple (AAPL) ETF) and USL (United States 12 Month Oil Fund LP) are both exchange-traded funds - AAPY is a Large Cap Blend Equities fund actively managed by Kurv, while USL is a Oil & Gas fund tracking the 12 Month Light Sweet Crude Oil. AAPY is actively managed, while USL is passively managed. Over the past year, AAPY returned 43.66% vs 57.86% for USL. At a correlation of -0.04, they often move in opposite directions. AAPY charges 0.99%/yr vs 0.88%/yr for USL.
Performance
AAPY vs. USL - Performance Comparison
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Returns By Period
In the year-to-date period, AAPY achieves a 14.66% return, which is significantly lower than USL's 63.07% return.
AAPY
- 1D
- -1.55%
- 1M
- 13.81%
- YTD
- 14.66%
- 6M
- 11.04%
- 1Y
- 43.66%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
USL
- 1D
- 1.55%
- 1M
- -1.61%
- YTD
- 63.07%
- 6M
- 59.66%
- 1Y
- 57.86%
- 3Y*
- 18.42%
- 5Y*
- 17.41%
- 10Y*
- 10.91%
AAPY vs. USL - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
AAPY Kurv Yield Premium Strategy Apple (AAPL) ETF | 14.66% | 5.04% | 20.54% | 9.23% |
USL United States 12 Month Oil Fund LP | 63.07% | -12.37% | 8.30% | -11.48% |
Correlation
The correlation between AAPY and USL is -0.23, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.23 |
Correlation (All Time) Calculated using the full available price history since Oct 30, 2023 | -0.04 |
The correlation between AAPY and USL shifts across timeframes, from -0.23 (1 year) to -0.04 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
AAPY vs. USL — Risk / Return Rank
AAPY
USL
AAPY vs. USL - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Kurv Yield Premium Strategy Apple (AAPL) ETF (AAPY) and United States 12 Month Oil Fund LP (USL). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.
| AAPY | USL | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.01 | ||
| Sortino ratioReturn per unit of downside risk | +0.22 | ||
| Omega ratioGain probability vs. loss probability | 1.38 | 1.34 | +0.04 |
| Calmar ratioReturn relative to maximum drawdown | 3.03 | 3.47 | -0.44 |
| Martin ratioReturn relative to average drawdown | 8.23 | 7.02 | +1.21 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| AAPY | USL | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.05 | 2.04 | +0.01 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | 0.58 | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.34 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.87 | 0.01 | +0.86 |
Drawdowns
AAPY vs. USL - Drawdown Comparison
The maximum AAPY drawdown since its inception was -29.22%, smaller than the maximum USL drawdown of -89.06%. Use the drawdown chart below to compare losses from any high point for AAPY and USL.
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Drawdown Indicators
| AAPY | USL | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -29.22% | -89.06% | +59.84% |
Max Drawdown (1Y)Largest decline over 1 year | -14.47% | -16.76% | +2.29% |
Max Drawdown (3Y)Largest decline over 3 years | — | -23.33% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -33.82% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -66.02% | — |
Current DrawdownCurrent decline from peak | -1.55% | -38.16% | +36.61% |
Average DrawdownAverage peak-to-trough decline | -6.34% | -61.46% | +55.12% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 5.32% | 8.27% | -2.95% |
Volatility
AAPY vs. USL - Volatility Comparison
The current volatility for Kurv Yield Premium Strategy Apple (AAPL) ETF (AAPY) is 6.18%, while United States 12 Month Oil Fund LP (USL) has a volatility of 10.53%. This indicates that AAPY experiences smaller price fluctuations and is considered to be less risky than USL based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| AAPY | USL | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.18% | 10.53% | -4.35% |
Volatility (6M)Calculated over the trailing 6-month period | 17.77% | 23.33% | -5.56% |
Volatility (1Y)Calculated over the trailing 1-year period | 21.42% | 28.54% | -7.12% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 22.58% | 30.08% | -7.50% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 22.58% | 32.35% | -9.77% |
AAPY vs. USL - Expense Ratio Comparison
AAPY has a 0.99% expense ratio, which is higher than USL's 0.88% expense ratio.
Dividends
AAPY vs. USL - Dividend Comparison
AAPY's dividend yield for the trailing twelve months is around 11.30%, while USL has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 |
|---|---|---|---|---|
AAPY Kurv Yield Premium Strategy Apple (AAPL) ETF | 11.30% | 12.66% | 17.15% | 2.16% |
USL United States 12 Month Oil Fund LP | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
AAPY and USL have a correlation of -0.23, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
USL has higher volatility (10.53%) compared to AAPY (6.18%). In terms of maximum drawdown, AAPY dropped -29.22% vs USL's -89.06%.
On 1-year performance, USL leads with 57.86% vs 43.66% for AAPY. On fees, USL is cheaper at 0.88% per year. On volatility, AAPY has been the lower-risk option at 6.18%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, USL has performed better with a 57.86% return vs 43.66%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
USL is cheaper with a 0.88% expense ratio, compared with 0.99% for AAPY.
AAPY has the higher dividend yield at 11.30%, compared with 0.00% for USL.
AAPY is categorized as Large Cap Blend Equities, while USL is Oil & Gas. They also come from different issuers: Kurv and Concierge Technologies. Their fees differ too: 0.99% for AAPY and 0.88% for USL.
AAPY currently has the higher Sharpe Ratio (2.05 vs 2.04), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.
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