AGQI vs. USO
AGQI (First Trust Active Global Quality Income ETF) and USO (United States Oil Fund LP) are both exchange-traded funds - AGQI is a Global Equities fund actively managed by First Trust, while USO is a Oil & Gas fund tracking the Front Month Light Sweet Crude Oil. AGQI is actively managed, while USO is passively managed. Over the past year, AGQI returned 24.27% vs 101.55% for USO. At a correlation of -0.07, they often move in opposite directions. AGQI charges 0.85%/yr vs 0.86%/yr for USO.
Performance
AGQI vs. USO - Performance Comparison
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Returns By Period
In the year-to-date period, AGQI achieves a 11.18% return, which is significantly lower than USO's 103.67% return.
AGQI
- 1D
- -0.31%
- 1M
- 3.25%
- YTD
- 11.18%
- 6M
- 12.44%
- 1Y
- 24.27%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
USO
- 1D
- 2.62%
- 1M
- -4.57%
- YTD
- 103.67%
- 6M
- 99.35%
- 1Y
- 101.55%
- 3Y*
- 29.98%
- 5Y*
- 24.41%
- 10Y*
- 4.07%
AGQI vs. USO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
AGQI First Trust Active Global Quality Income ETF | 11.18% | 26.67% | 2.98% | 5.25% |
USO United States Oil Fund LP | 103.67% | -8.46% | 13.35% | -8.11% |
Correlation
The correlation between AGQI and USO is -0.28, 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 | -0.28 |
Correlation (All Time) Calculated using the full available price history since Nov 22, 2023 | -0.07 |
Over the past year, the inverse relationship between AGQI and USO has strengthened: their correlation has moved from -0.07 to -0.28, meaning they now move in opposite directions more often than their long-term average.
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Return for Risk
AGQI vs. USO — Risk / Return Rank
AGQI
USO
AGQI vs. USO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for First Trust Active Global Quality Income ETF (AGQI) and United States Oil Fund LP (USO). 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.
| AGQI | USO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.22 | ||
| Sortino ratioReturn per unit of downside risk | -0.07 | ||
| Omega ratioGain probability vs. loss probability | 1.38 | 1.38 | -0.01 |
| Calmar ratioReturn relative to maximum drawdown | 2.66 | 5.01 | -2.34 |
| Martin ratioReturn relative to average drawdown | 9.53 | 9.42 | +0.11 |
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
| AGQI | USO | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.09 | 2.31 | -0.22 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | 0.68 | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.10 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 1.46 | -0.18 | +1.64 |
Drawdowns
AGQI vs. USO - Drawdown Comparison
The maximum AGQI drawdown since its inception was -14.07%, smaller than the maximum USO drawdown of -98.19%. Use the drawdown chart below to compare losses from any high point for AGQI and USO.
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Drawdown Indicators
| AGQI | USO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -14.07% | -98.19% | +84.12% |
Max Drawdown (1Y)Largest decline over 1 year | -9.15% | -20.39% | +11.24% |
Max Drawdown (3Y)Largest decline over 3 years | — | -26.05% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -36.23% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -86.75% | — |
Current DrawdownCurrent decline from peak | -0.31% | -85.01% | +84.70% |
Average DrawdownAverage peak-to-trough decline | -2.17% | -75.30% | +73.13% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.55% | 10.82% | -8.27% |
Volatility
AGQI vs. USO - Volatility Comparison
The current volatility for First Trust Active Global Quality Income ETF (AGQI) is 3.84%, while United States Oil Fund LP (USO) has a volatility of 14.87%. This indicates that AGQI experiences smaller price fluctuations and is considered to be less risky than USO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| AGQI | USO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.84% | 14.87% | -11.03% |
Volatility (6M)Calculated over the trailing 6-month period | 9.40% | 38.23% | -28.83% |
Volatility (1Y)Calculated over the trailing 1-year period | 11.68% | 44.20% | -32.52% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 12.57% | 36.06% | -23.49% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 12.57% | 39.00% | -26.43% |
AGQI vs. USO - Expense Ratio Comparison
AGQI has a 0.85% expense ratio, which is lower than USO's 0.86% expense ratio.
Dividends
AGQI vs. USO - Dividend Comparison
AGQI's dividend yield for the trailing twelve months is around 2.03%, while USO has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 |
|---|---|---|---|---|
AGQI First Trust Active Global Quality Income ETF | 2.03% | 2.54% | 2.14% | 0.14% |
USO United States Oil Fund LP | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
AGQI and USO have a correlation of -0.28, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
USO has higher volatility (14.87%) compared to AGQI (3.84%). In terms of maximum drawdown, AGQI dropped -14.07% vs USO's -98.19%.
On 1-year performance, USO leads with 101.55% vs 24.27% for AGQI. On fees, AGQI is cheaper at 0.85% per year. On volatility, AGQI has been the lower-risk option at 3.84%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, USO has performed better with a 101.55% return vs 24.27%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
AGQI is cheaper with a 0.85% expense ratio, compared with 0.86% for USO.
AGQI has the higher dividend yield at 2.03%, compared with 0.00% for USO.
AGQI is categorized as Global Equities, while USO is Oil & Gas. They also come from different issuers: First Trust and USCF. Their fees differ too: 0.85% for AGQI and 0.86% for USO.
USO currently has the higher Sharpe Ratio (2.31 vs 2.09), 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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