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AOM vs. USO
Performance
Return for Risk
Drawdowns
Volatility
Dividends

AOM vs. USO

Last updated Jun 3, 2026

AOM (iShares Core Moderate Allocation ETF) and USO (United States Oil Fund LP) are both exchange-traded funds - AOM is a Diversified Portfolio fund tracking the S&P Target Risk Moderate, while USO is a Oil & Gas fund tracking the Front Month Light Sweet Crude Oil. Both are passively managed. Over the past 10 years, AOM returned 6.27%/yr vs 3.80%/yr for USO. At a 0.25 correlation, their price movements are largely independent. AOM charges 0.25%/yr vs 0.86%/yr for USO.

Performance

AOM vs. USO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares Core Moderate Allocation ETF (AOM) and United States Oil Fund LP (USO). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, AOM achieves a 5.49% return, which is significantly lower than USO's 98.48% return. Over the past 10 years, AOM has outperformed USO with an annualized return of 6.27%, while USO has yielded a comparatively lower 3.80% annualized return.

AOM

1D
0.22%
1M
2.21%
YTD
5.49%
6M
6.11%
1Y
15.19%
3Y*
11.04%
5Y*
5.00%
10Y*
6.27%

USO

1D
1.31%
1M
-3.87%
YTD
98.48%
6M
95.54%
1Y
97.37%
3Y*
28.86%
5Y*
23.92%
10Y*
3.80%
*Multi-year figures are annualized to reflect compound growth (CAGR)

AOM vs. USO - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
AOM
iShares Core Moderate Allocation ETF		5.49%13.28%7.95%12.38%-14.54%6.93%10.02%15.58%-3.88%11.63%
USO
United States Oil Fund LP		98.48%-8.46%13.35%-4.94%28.97%64.68%-67.79%32.61%-19.57%2.47%

Correlation

The correlation between AOM and USO is -0.40, 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

-0.40

Correlation (3Y)
Calculated over the trailing 3-year period

-0.12

Correlation (5Y)
Calculated over the trailing 5-year period

0.01

Correlation (10Y)
Calculated over the trailing 10-year period

0.13

Correlation (All Time)
Calculated using the full available price history since Nov 12, 2008

0.25

The correlation between AOM and USO shifts across timeframes, from -0.40 (1 year) to 0.25 (all time), reflecting how their relationship changes across market environments.

Compare stocks, funds, or ETFs

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iShares Core Moderate Allocation ETF

United States Oil Fund LP

Often compared with AOM:
AOM vs. AORAOM vs. AOKAOM vs. AOAAOM vs. VSMGXAOM vs. VOOAOM vs. VSCGXAOM vs. ABALX
Often compared with USO:
USO vs. XLEUSO vs. BNOUSO vs. UCOUSO vs. USLUSO vs. OILKUSO vs. DBOUSO vs. WTI

Return for Risk

AOM vs. USO — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
AOM
AOM Risk / Return Rank: 6969
Overall Rank
AOM Sharpe Ratio Rank: 7070
Sharpe Ratio Rank
AOM Sortino Ratio Rank: 7474
Sortino Ratio Rank
AOM Omega Ratio Rank: 7373
Omega Ratio Rank
AOM Calmar Ratio Rank: 5959
Calmar Ratio Rank
AOM Martin Ratio Rank: 6969
Martin Ratio Rank
USO
USO Risk / Return Rank: 6666
Overall Rank
USO Sharpe Ratio Rank: 6666
Sharpe Ratio Rank
USO Sortino Ratio Rank: 5959
Sortino Ratio Rank
USO Omega Ratio Rank: 6161
Omega Ratio Rank
USO Calmar Ratio Rank: 8888
Calmar Ratio Rank
USO Martin Ratio Rank: 5555
Martin Ratio Rank
The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

AOM vs. USO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares Core Moderate Allocation ETF (AOM) 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.

AOMUSODifference

Sharpe ratio

Return per unit of total volatility

2.34

2.22

+0.12

Sortino ratio

Return per unit of downside risk

3.38

2.81

+0.57

Omega ratio

Gain probability vs. loss probability

1.44

1.37

+0.07

Calmar ratio

Return relative to maximum drawdown

2.99

5.12

-2.13

Martin ratio

Return relative to average drawdown

13.07

9.66

+3.41

Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

AOM vs. USO - Sharpe Ratio Comparison

The current AOM Sharpe Ratio is 2.34, which is comparable to the USO Sharpe Ratio of 2.22. The chart below compares the historical Sharpe Ratios of AOM and USO, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

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Sharpe Ratios by Period

AOMUSODifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

2.34

2.22

+0.12

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.62

0.67

-0.05

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.79

0.10

+0.70

Sharpe Ratio (All Time)

Calculated using the full available price history

0.70

-0.18

+0.88

Drawdowns

AOM vs. USO - Drawdown Comparison

The maximum AOM drawdown since its inception was -19.96%, smaller than the maximum USO drawdown of -98.19%. Use the drawdown chart below to compare losses from any high point for AOM and USO.

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Drawdown Indicators

AOMUSODifference

Max Drawdown

Largest peak-to-trough decline

-19.96%

-98.19%

+78.23%

Max Drawdown (1Y)

Largest decline over 1 year

-5.11%

-20.39%

+15.28%

Max Drawdown (3Y)

Largest decline over 3 years

-6.85%

-26.05%

+19.20%

Max Drawdown (5Y)

Largest decline over 5 years

-19.96%

-36.23%

+16.27%

Max Drawdown (10Y)

Largest decline over 10 years

-19.96%

-86.75%

+66.79%

Current Drawdown

Current decline from peak

0.00%

-85.39%

+85.39%

Average Drawdown

Average peak-to-trough decline

-2.70%

-75.30%

+72.60%

Ulcer Index

Depth and duration of drawdowns from previous peaks

1.17%

10.81%

-9.64%

Volatility

AOM vs. USO - Volatility Comparison

The current volatility for iShares Core Moderate Allocation ETF (AOM) is 2.15%, while United States Oil Fund LP (USO) has a volatility of 15.03%. This indicates that AOM 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

AOMUSODifference

Volatility (1M)

Calculated over the trailing 1-month period

2.15%

15.03%

-12.88%

Volatility (6M)

Calculated over the trailing 6-month period

5.21%

38.18%

-32.97%

Volatility (1Y)

Calculated over the trailing 1-year period

6.53%

44.26%

-37.73%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

8.14%

36.04%

-27.90%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

7.93%

39.00%

-31.07%

AOM vs. USO - Expense Ratio Comparison

AOM has a 0.25% expense ratio, which is lower than USO's 0.86% expense ratio.

Dividends

AOM vs. USO - Dividend Comparison

AOM's dividend yield for the trailing twelve months is around 2.97%, while USO has not paid dividends to shareholders.

PositionTTM20252024202320222021202020192018201720162015
AOM
iShares Core Moderate Allocation ETF		2.97%2.98%3.10%2.79%2.27%1.56%2.02%2.66%2.53%3.31%2.14%1.98%
USO
United States Oil Fund LP		0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%

Frequently Asked Questions

AOM and USO have a correlation of -0.40, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

USO has higher volatility (15.03%) compared to AOM (2.15%). In terms of maximum drawdown, AOM dropped -19.96% vs USO's -98.19%.

On 10-year performance, AOM leads with 6.27% vs 3.80% for USO. On fees, AOM is cheaper at 0.25% per year. On volatility, AOM has been the lower-risk option at 2.15%. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 10-year period, AOM has performed better with a 6.27% return vs 3.80%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

AOM is cheaper with a 0.25% expense ratio, compared with 0.86% for USO.

AOM has the higher dividend yield at 2.97%, compared with 0.00% for USO.

AOM is categorized as Diversified Portfolio, while USO is Oil & Gas. AOM tracks S&P Target Risk Moderate, while USO tracks Front Month Light Sweet Crude Oil. They also come from different issuers: iShares and USCF. Their fees differ too: 0.25% for AOM and 0.86% for USO.

AOM currently has the higher Sharpe Ratio (2.34 vs 2.22), 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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