ARKK vs. USL

Last updated Jun 4, 2026

ARKK (ARK Innovation ETF) and USL (United States 12 Month Oil Fund LP) are both exchange-traded funds - ARKK is a Technology Equities fund actively managed by ARK, while USL is a Oil & Gas fund tracking the 12 Month Light Sweet Crude Oil. ARKK is actively managed, while USL is passively managed. Over the past 10 years, ARKK returned 15.75%/yr vs 10.91%/yr for USL. At a 0.12 correlation, their price movements are largely independent. ARKK charges 0.75%/yr vs 0.88%/yr for USL.

Performance

ARKK vs. USL - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ARK Innovation ETF (ARKK) and United States 12 Month Oil Fund LP (USL). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, ARKK achieves a 1.61% return, which is significantly lower than USL's 63.07% return. Over the past 10 years, ARKK has outperformed USL with an annualized return of 15.75%, while USL has yielded a comparatively lower 10.91% annualized return.

ARKK

• 1D: -2.19%
• 1M: -0.09%
• YTD: 1.61%
• 6M: -3.21%
• 1Y: 34.90%
• 3Y*: 23.72%
• 5Y*: -6.26%
• 10Y*: 15.75%

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%

*Multi-year figures are annualized to reflect compound growth (CAGR)

ARKK vs. USL - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
ARKK ARK Innovation ETF	1.61%	35.49%	8.40%	69.04%	-66.97%	-23.60%	152.71%	35.08%	3.52%	87.33%
USL United States 12 Month Oil Fund LP	63.07%	-12.37%	8.30%	-1.11%	27.10%	62.48%	-25.23%	28.01%	-14.15%	2.55%

Correlation

The correlation between ARKK and USL is -0.18, 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	-0.18
Correlation (3Y) Calculated over the trailing 3-year period	-0.02
Correlation (5Y) Calculated over the trailing 5-year period	0.04
Correlation (10Y) Calculated over the trailing 10-year period	0.12
Correlation (All Time) Calculated using the full available price history since Nov 3, 2014	0.12

The correlation between ARKK and USL shifts across timeframes, from -0.18 (1 year) to 0.12 (all time), reflecting how their relationship changes across market environments.

ARKK vs. USL - Sectors Allocation Comparison

Sectors	ARKK	USL
Healthcare	27.4%	-
Technology	26.4%	-
Financial Services	15.4%	4.5%
Consumer Cyclical	13.7%	-
Communication Services	10.9%	-
Industrials	6.3%	-
Basic Materials	-	-
Consumer Defensive	-	-
Energy	-	-
Real Estate	-	-
Utilities	-	-

Return for Risk

ARKK vs. USL — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

ARKK

ARKK Risk / Return Rank: 24
ARKK Sharpe Ratio Rank: 26
ARKK Sortino Ratio Rank: 27
ARKK Omega Ratio Rank: 25
ARKK Calmar Ratio Rank: 24
ARKK Martin Ratio Rank: 20

USL

USL Risk / Return Rank: 56
USL Sharpe Ratio Rank: 59
USL Sortino Ratio Rank: 53
USL Omega Ratio Rank: 54
USL Calmar Ratio Rank: 69
USL Martin Ratio Rank: 43

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.

ARKK vs. USL - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ARK Innovation ETF (ARKK) 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.

	ARKK	USL	Difference
Sharpe ratio: Return per unit of total volatility	0.96	2.04	-1.07
Sortino ratio: Return per unit of downside risk	1.52	2.58	-1.06
Omega ratio: Gain probability vs. loss probability	1.17	1.34	-0.16
Calmar ratio: Return relative to maximum drawdown	1.12	3.47	-2.35
Martin ratio: Return relative to average drawdown	2.49	7.02	-4.53
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

ARKK vs. USL - Sharpe Ratio Comparison

The current ARKK Sharpe Ratio is 0.96, which is lower than the USL Sharpe Ratio of 2.04. The chart below compares the historical Sharpe Ratios of ARKK and USL, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	ARKK	USL	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.96	2.04	-1.07
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.14	0.58	-0.72
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.39	0.34	+0.05
Sharpe Ratio (All Time) Calculated using the full available price history	0.35	0.01	+0.34

Drawdowns

ARKK vs. USL - Drawdown Comparison

The maximum ARKK drawdown since its inception was -80.97%, smaller than the maximum USL drawdown of -89.06%. Use the drawdown chart below to compare losses from any high point for ARKK and USL.

Drawdown Indicators

	ARKK	USL	Difference
Max Drawdown Largest peak-to-trough decline	-80.97%	-89.06%	+8.09%
Max Drawdown (1Y) Largest decline over 1 year	-31.35%	-16.76%	-14.59%
Max Drawdown (3Y) Largest decline over 3 years	-39.56%	-23.33%	-16.23%
Max Drawdown (5Y) Largest decline over 5 years	-77.23%	-33.82%	-43.41%
Max Drawdown (10Y) Largest decline over 10 years	-80.97%	-66.02%	-14.95%
Current Drawdown Current decline from peak	-49.39%	-38.16%	-11.23%
Average Drawdown Average peak-to-trough decline	-30.12%	-61.46%	+31.34%
Ulcer Index Depth and duration of drawdowns from previous peaks	14.06%	8.27%	+5.79%

Volatility

ARKK vs. USL - Volatility Comparison

The current volatility for ARK Innovation ETF (ARKK) is 9.45%, while United States 12 Month Oil Fund LP (USL) has a volatility of 10.53%. This indicates that ARKK 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.

Volatility by Period

	ARKK	USL	Difference
Volatility (1M) Calculated over the trailing 1-month period	9.45%	10.53%	-1.08%
Volatility (6M) Calculated over the trailing 6-month period	25.08%	23.33%	+1.75%
Volatility (1Y) Calculated over the trailing 1-year period	36.37%	28.54%	+7.83%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	46.28%	30.08%	+16.20%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	40.26%	32.35%	+7.91%

ARKK vs. USL - Expense Ratio Comparison

ARKK has a 0.75% expense ratio, which is lower than USL's 0.88% expense ratio.

Dividends

ARKK vs. USL - Dividend Comparison

Neither ARKK nor USL has paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
ARKK ARK Innovation ETF	0.00%	0.00%	0.00%	0.70%	0.00%	0.55%	1.64%	0.38%	3.14%	1.32%	0.00%	2.27%
USL United States 12 Month 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

Can I hold both ARKK and USL in my portfolio?

ARKK and USL have a correlation of -0.18, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, ARKK or USL?

USL has higher volatility (10.53%) compared to ARKK (9.45%). In terms of maximum drawdown, ARKK dropped -80.97% vs USL's -89.06%.

Which ETF is better, ARKK or USL?

On 10-year performance, ARKK leads with 15.75% vs 10.91% for USL. On fees, ARKK is cheaper at 0.75% per year. On volatility, ARKK has been the lower-risk option at 9.45%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, ARKK or USL?

Over the 10-year period, ARKK has performed better with a 15.75% return vs 10.91%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, ARKK or USL?

ARKK is cheaper with a 0.75% expense ratio, compared with 0.88% for USL.

Which ETF pays a higher dividend yield, ARKK or USL?

ARKK and USL have nearly identical dividend yields, around 0.00%.

What is the main difference between ARKK and USL?

ARKK is categorized as Technology Equities, while USL is Oil & Gas. They also come from different issuers: ARK and Concierge Technologies. Their fees differ too: 0.75% for ARKK and 0.88% for USL.

Which has better risk-adjusted returns?

USL currently has the higher Sharpe Ratio (2.04 vs 0.96), 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.