ABLS vs. USL
ABLS (Abacus FCF Small Cap Leaders ETF) and USL (United States 12 Month Oil Fund LP) are both exchange-traded funds - ABLS is a Small Cap Blend Equities fund tracking the Abacus FCF Small Cap Leaders Index, while USL is a Oil & Gas fund tracking the 12 Month Light Sweet Crude Oil. Both are passively managed. Over the past year, ABLS returned 0.04% vs 57.86% for USL. At a correlation of -0.11, they often move in opposite directions. ABLS charges 0.39%/yr vs 0.88%/yr for USL.
Performance
ABLS vs. USL - Performance Comparison
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Returns By Period
In the year-to-date period, ABLS achieves a 2.75% return, which is significantly lower than USL's 63.07% return.
ABLS
- 1D
- -0.92%
- 1M
- 0.47%
- YTD
- 2.75%
- 6M
- -0.23%
- 1Y
- 0.04%
- 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%
ABLS vs. USL - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
ABLS Abacus FCF Small Cap Leaders ETF | 2.75% | -8.72% |
USL United States 12 Month Oil Fund LP | 63.07% | -14.09% |
Correlation
The correlation between ABLS and USL is -0.29, 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 | -0.29 |
Correlation (All Time) Calculated using the full available price history since Feb 20, 2025 | -0.11 |
The correlation between ABLS and USL shifts across timeframes, from -0.29 (1 year) to -0.11 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
ABLS vs. USL — Risk / Return Rank
ABLS
USL
ABLS vs. USL - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Abacus FCF Small Cap Leaders ETF (ABLS) 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.
| ABLS | USL | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.04 | ||
| Sortino ratioReturn per unit of downside risk | -2.45 | ||
| Omega ratioGain probability vs. loss probability | 1.01 | 1.34 | -0.32 |
| Calmar ratioReturn relative to maximum drawdown | 0.00 | 3.47 | -3.47 |
| Martin ratioReturn relative to average drawdown | 0.01 | 7.02 | -7.01 |
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
| ABLS | USL | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.00 | 2.04 | -2.04 |
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 | -0.23 | 0.01 | -0.24 |
Drawdowns
ABLS vs. USL - Drawdown Comparison
The maximum ABLS drawdown since its inception was -19.28%, smaller than the maximum USL drawdown of -89.06%. Use the drawdown chart below to compare losses from any high point for ABLS and USL.
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Drawdown Indicators
| ABLS | USL | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -19.28% | -89.06% | +69.78% |
Max Drawdown (1Y)Largest decline over 1 year | -16.19% | -16.76% | +0.57% |
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 | -6.21% | -38.16% | +31.95% |
Average DrawdownAverage peak-to-trough decline | -8.45% | -61.46% | +53.01% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 5.82% | 8.27% | -2.45% |
Volatility
ABLS vs. USL - Volatility Comparison
The current volatility for Abacus FCF Small Cap Leaders ETF (ABLS) is 3.80%, while United States 12 Month Oil Fund LP (USL) has a volatility of 10.53%. This indicates that ABLS 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
| ABLS | USL | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.80% | 10.53% | -6.73% |
Volatility (6M)Calculated over the trailing 6-month period | 12.68% | 23.33% | -10.65% |
Volatility (1Y)Calculated over the trailing 1-year period | 17.35% | 28.54% | -11.19% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 21.25% | 30.08% | -8.83% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 21.25% | 32.35% | -11.10% |
ABLS vs. USL - Expense Ratio Comparison
ABLS has a 0.39% expense ratio, which is lower than USL's 0.88% expense ratio.
Dividends
ABLS vs. USL - Dividend Comparison
ABLS's dividend yield for the trailing twelve months is around 13.68%, while USL has not paid dividends to shareholders.
| Position | TTM | 2025 |
|---|---|---|
ABLS Abacus FCF Small Cap Leaders ETF | 13.68% | 14.04% |
USL United States 12 Month Oil Fund LP | 0.00% | 0.00% |
Frequently Asked Questions
ABLS and USL have a correlation of -0.29, 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 ABLS (3.80%). In terms of maximum drawdown, ABLS dropped -19.28% vs USL's -89.06%.
On 1-year performance, USL leads with 57.86% vs 0.04% for ABLS. On fees, ABLS is cheaper at 0.39% per year. On volatility, ABLS has been the lower-risk option at 3.80%. 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 0.04%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
ABLS is cheaper with a 0.39% expense ratio, compared with 0.88% for USL.
ABLS has the higher dividend yield at 13.68%, compared with 0.00% for USL.
ABLS is categorized as Small Cap Blend Equities, while USL is Oil & Gas. ABLS tracks Abacus FCF Small Cap Leaders Index, while USL tracks 12 Month Light Sweet Crude Oil. They also come from different issuers: Abacus and Concierge Technologies. Their fees differ too: 0.39% for ABLS and 0.88% for USL.
USL currently has the higher Sharpe Ratio (2.04 vs 0.00), 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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