AUDUSD=X vs. USO

Last updated Apr 3, 2026

Compare and contrast key facts about AUD/USD (AUDUSD=X) and United States Oil Fund LP (USO).

USO is a passively managed fund by Concierge Technologies that tracks the performance of the Front Month Light Sweet Crude Oil. It was launched on Apr 10, 2006.

Performance

AUDUSD=X vs. USO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in AUD/USD (AUDUSD=X) and United States Oil Fund LP (USO). The values are adjusted to include any dividend payments, if applicable.

AUDUSD=X vs. USO - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
AUDUSD=X AUD/USD	3.59%	7.81%	-9.12%	-0.06%	-6.27%	-5.58%	9.75%	-0.37%	-9.73%	8.36%
USO United States Oil Fund LP	99.42%	-8.46%	13.35%	-4.94%	28.97%	64.68%	-67.79%	32.61%	-19.57%	2.47%

Returns By Period

In the year-to-date period, AUDUSD=X achieves a 3.59% return, which is significantly lower than USO's 99.42% return. Over the past 10 years, AUDUSD=X has underperformed USO with an annualized return of -0.95%, while USO has yielded a comparatively higher 6.62% annualized return.

AUDUSD=X

• 1D: -0.22%
• 1M: -1.74%
• YTD: 3.59%
• 6M: 4.80%
• 1Y: 9.79%
• 3Y*: 0.62%
• 5Y*: -1.90%
• 10Y*: -0.95%

USO

• 1D: 11.15%
• 1M: 52.90%
• YTD: 99.42%
• 6M: 92.79%
• 1Y: 77.41%
• 3Y*: 25.20%
• 5Y*: 26.94%
• 10Y*: 6.62%

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

Return for Risk

AUDUSD=X vs. USO — Risk / Return Rank

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

AUDUSD=X

AUDUSD=X Risk / Return Rank: 78
AUDUSD=X Sharpe Ratio Rank: 78
AUDUSD=X Sortino Ratio Rank: 77
AUDUSD=X Omega Ratio Rank: 80
AUDUSD=X Calmar Ratio Rank: 79
AUDUSD=X Martin Ratio Rank: 77

USO

USO Risk / Return Rank: 82
USO Sharpe Ratio Rank: 87
USO Sortino Ratio Rank: 89
USO Omega Ratio Rank: 82
USO Calmar Ratio Rank: 93
USO Martin Ratio Rank: 58

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.

AUDUSD=X vs. USO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for AUD/USD (AUDUSD=X) 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.

	AUDUSD=X	USO	Difference
Sharpe ratio Return per unit of total volatility	0.84	1.91	-1.06
Sortino ratio Return per unit of downside risk	1.20	2.64	-1.44
Omega ratio Gain probability vs. loss probability	1.17	1.34	-0.17
Calmar ratio Return relative to maximum drawdown	1.39	3.87	-2.48
Martin ratio Return relative to average drawdown	3.58	6.70	-3.13
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

AUDUSD=X vs. USO - Sharpe Ratio Comparison

The current AUDUSD=X Sharpe Ratio is 0.84, which is lower than the USO Sharpe Ratio of 1.91. The chart below compares the historical Sharpe Ratios of AUDUSD=X and USO, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	AUDUSD=X	USO	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.84	1.91	-1.06
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.17	0.78	-0.95
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	-0.09	0.17	-0.26
Sharpe Ratio (All Time) Calculated using the full available price history	-0.08	-0.18	+0.11

Correlation

The correlation between AUDUSD=X and USO is 0.30, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.

Drawdowns

AUDUSD=X vs. USO - Drawdown Comparison

The maximum AUDUSD=X drawdown since its inception was -47.87%, smaller than the maximum USO drawdown of -98.19%. Use the drawdown chart below to compare losses from any high point for AUDUSD=X and USO.

Drawdown Indicators

	AUDUSD=X	USO	Difference
Max Drawdown Largest peak-to-trough decline	-47.87%	-98.19%	+50.32%
Max Drawdown (1Y) Largest decline over 1 year	-5.86%	-20.39%	+14.53%
Max Drawdown (5Y) Largest decline over 5 years	-24.02%	-36.23%	+12.21%
Max Drawdown (10Y) Largest decline over 10 years	-29.18%	-86.75%	+57.57%
Current Drawdown Current decline from peak	-37.25%	-85.33%	+48.08%
Average Drawdown Average peak-to-trough decline	-25.45%	-75.21%	+49.76%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.63%	11.77%	-10.14%

Volatility

AUDUSD=X vs. USO - Volatility Comparison

The current volatility for AUD/USD (AUDUSD=X) is 3.26%, while United States Oil Fund LP (USO) has a volatility of 23.98%. This indicates that AUDUSD=X 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.

Volatility by Period

	AUDUSD=X	USO	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.26%	23.98%	-20.72%
Volatility (6M) Calculated over the trailing 6-month period	5.76%	31.47%	-25.71%
Volatility (1Y) Calculated over the trailing 1-year period	9.26%	40.83%	-31.57%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	10.11%	34.74%	-24.63%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	9.76%	38.48%	-28.72%