ASMU vs. USO

Last updated Jun 4, 2026

ASMU (Direxion Daily ASML Bull 2X ETF) and USO (United States Oil Fund LP) are both exchange-traded funds - ASMU is a Leveraged Equities fund actively managed by Direxion, while USO is a Oil & Gas fund tracking the Front Month Light Sweet Crude Oil. ASMU is actively managed, while USO is passively managed. At a correlation of -0.58, they often move in opposite directions. ASMU charges 0.97%/yr vs 0.86%/yr for USO.

Performance

ASMU vs. USO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Direxion Daily ASML Bull 2X ETF (ASMU) and United States Oil Fund LP (USO). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

ASMU

• 1D: 2.55%
• 1M: 50.45%
• YTD: —
• 6M: —
• 1Y: —
• 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%

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

ASMU vs. USO - Yearly Performance Comparison

	2026 (YTD)
ASMU Direxion Daily ASML Bull 2X ETF	30.81%
USO United States Oil Fund LP	78.55%

Correlation

The correlation between ASMU and USO is -0.58, 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 (All Time) Calculated using the full available price history since Feb 12, 2026	-0.58

Return for Risk

ASMU vs. USO — Risk / Return Rank

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

USO

USO Risk / Return Rank: 66
USO Sharpe Ratio Rank: 69
USO Sortino Ratio Rank: 60
USO Omega Ratio Rank: 61
USO Calmar Ratio Rank: 87
USO Martin Ratio Rank: 54

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.

ASMU vs. USO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Direxion Daily ASML Bull 2X ETF (ASMU) 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.

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

Sharpe Ratios by Period

	ASMU	USO	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	2.31	—
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	1.49	-0.18	+1.67

Drawdowns

ASMU vs. USO - Drawdown Comparison

The maximum ASMU drawdown since its inception was -34.79%, smaller than the maximum USO drawdown of -98.19%. Use the drawdown chart below to compare losses from any high point for ASMU and USO.

Drawdown Indicators

	ASMU	USO	Difference
Max Drawdown Largest peak-to-trough decline	-34.79%	-98.19%	+63.40%
Max Drawdown (1Y) Largest decline over 1 year	—	-20.39%	—
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 Drawdown Current decline from peak	0.00%	-85.01%	+85.01%
Average Drawdown Average peak-to-trough decline	-13.52%	-75.30%	+61.78%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	10.82%	—

Volatility

Volatility by Period

	ASMU	USO	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	14.87%	—
Volatility (6M) Calculated over the trailing 6-month period	—	38.23%	—
Volatility (1Y) Calculated over the trailing 1-year period	95.13%	44.20%	+50.93%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	95.13%	36.06%	+59.07%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	95.13%	39.00%	+56.13%

ASMU vs. USO - Expense Ratio Comparison

ASMU has a 0.97% expense ratio, which is higher than USO's 0.86% expense ratio.

Dividends

ASMU vs. USO - Dividend Comparison

ASMU's dividend yield for the trailing twelve months is around 0.16%, while USO has not paid dividends to shareholders.

Position	TTM
ASMU Direxion Daily ASML Bull 2X ETF	0.16%
USO United States Oil Fund LP	0.00%

Frequently Asked Questions

Can I hold both ASMU and USO in my portfolio?

ASMU and USO have a correlation of -0.58, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, ASMU or USO?

On fees, USO is cheaper at 0.86% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, ASMU or USO?

USO is cheaper with a 0.86% expense ratio, compared with 0.97% for ASMU.

Which ETF pays a higher dividend yield, ASMU or USO?

ASMU has the higher dividend yield at 0.16%, compared with 0.00% for USO.

What is the main difference between ASMU and USO?

ASMU is categorized as Leveraged Equities, while USO is Oil & Gas. They also come from different issuers: Direxion and USCF. Their fees differ too: 0.97% for ASMU and 0.86% for USO.