ALAI vs. USO
ALAI (Alger AI Enablers & Adopters ETF) and USO (United States Oil Fund LP) are both exchange-traded funds - ALAI is a Technology Equities fund actively managed by Alger, while USO is a Oil & Gas fund tracking the Front Month Light Sweet Crude Oil. ALAI is actively managed, while USO is passively managed. Over the past year, ALAI returned 63.92% vs 101.55% for USO. At a correlation of -0.04, they often move in opposite directions. ALAI charges 0.55%/yr vs 0.86%/yr for USO.
Performance
ALAI vs. USO - Performance Comparison
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Returns By Period
In the year-to-date period, ALAI achieves a 27.17% return, which is significantly lower than USO's 103.67% return.
ALAI
- 1D
- -1.25%
- 1M
- 13.53%
- YTD
- 27.17%
- 6M
- 26.74%
- 1Y
- 63.92%
- 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%
ALAI vs. USO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
ALAI Alger AI Enablers & Adopters ETF | 27.17% | 39.81% | 31.43% |
USO United States Oil Fund LP | 103.67% | -8.46% | -8.31% |
Correlation
The correlation between ALAI and USO is -0.26, 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 | -0.26 |
Correlation (All Time) Calculated using the full available price history since Apr 8, 2024 | -0.04 |
Over the past year, the inverse relationship between ALAI and USO has strengthened: their correlation has moved from -0.04 to -0.26, meaning they now move in opposite directions more often than their long-term average.
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Return for Risk
ALAI vs. USO — Risk / Return Rank
ALAI
USO
ALAI vs. USO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Alger AI Enablers & Adopters ETF (ALAI) 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.
| ALAI | USO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.36 | ||
| Sortino ratioReturn per unit of downside risk | +0.38 | ||
| Omega ratioGain probability vs. loss probability | 1.42 | 1.38 | +0.04 |
| Calmar ratioReturn relative to maximum drawdown | 3.30 | 5.01 | -1.71 |
| Martin ratioReturn relative to average drawdown | 10.58 | 9.42 | +1.16 |
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
| ALAI | USO | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.67 | 2.31 | +0.36 |
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 | 1.71 | -0.18 | +1.88 |
Drawdowns
ALAI vs. USO - Drawdown Comparison
The maximum ALAI drawdown since its inception was -29.36%, smaller than the maximum USO drawdown of -98.19%. Use the drawdown chart below to compare losses from any high point for ALAI and USO.
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Drawdown Indicators
| ALAI | USO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -29.36% | -98.19% | +68.83% |
Max Drawdown (1Y)Largest decline over 1 year | -19.48% | -20.39% | +0.91% |
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 | -1.69% | -85.01% | +83.32% |
Average DrawdownAverage peak-to-trough decline | -5.14% | -75.30% | +70.16% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 6.06% | 10.82% | -4.76% |
Volatility
ALAI vs. USO - Volatility Comparison
The current volatility for Alger AI Enablers & Adopters ETF (ALAI) is 6.97%, while United States Oil Fund LP (USO) has a volatility of 14.87%. This indicates that ALAI 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
| ALAI | USO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.97% | 14.87% | -7.90% |
Volatility (6M)Calculated over the trailing 6-month period | 18.57% | 38.23% | -19.66% |
Volatility (1Y)Calculated over the trailing 1-year period | 24.06% | 44.20% | -20.14% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 28.41% | 36.06% | -7.65% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 28.41% | 39.00% | -10.59% |
ALAI vs. USO - Expense Ratio Comparison
ALAI has a 0.55% expense ratio, which is lower than USO's 0.86% expense ratio.
Dividends
ALAI vs. USO - Dividend Comparison
ALAI's dividend yield for the trailing twelve months is around 1.18%, while USO has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 |
|---|---|---|---|
ALAI Alger AI Enablers & Adopters ETF | 1.18% | 1.50% | 0.66% |
USO United States Oil Fund LP | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
ALAI and USO have a correlation of -0.26, 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 ALAI (6.97%). In terms of maximum drawdown, ALAI dropped -29.36% vs USO's -98.19%.
On 1-year performance, USO leads with 101.55% vs 63.92% for ALAI. On fees, ALAI is cheaper at 0.55% per year. On volatility, ALAI has been the lower-risk option at 6.97%. 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 63.92%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
ALAI is cheaper with a 0.55% expense ratio, compared with 0.86% for USO.
ALAI has the higher dividend yield at 1.18%, compared with 0.00% for USO.
ALAI is categorized as Technology Equities, while USO is Oil & Gas. They also come from different issuers: Alger and USCF. Their fees differ too: 0.55% for ALAI and 0.86% for USO.
ALAI currently has the higher Sharpe Ratio (2.67 vs 2.31), 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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