AVGX vs. USO
AVGX (Defiance Daily Target 2X Long AVGO ETF) and USO (United States Oil Fund LP) are both exchange-traded funds - AVGX is a Leveraged Equities fund actively managed by Defiance, while USO is a Oil & Gas fund tracking the Front Month Light Sweet Crude Oil. AVGX is actively managed, while USO is passively managed. Over the past year, AVGX returned 156.34% vs 101.55% for USO. At a correlation of -0.06, they often move in opposite directions. AVGX charges 1.29%/yr vs 0.86%/yr for USO.
Performance
AVGX vs. USO - Performance Comparison
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Returns By Period
In the year-to-date period, AVGX achieves a 69.89% return, which is significantly lower than USO's 103.67% return.
AVGX
- 1D
- -0.83%
- 1M
- 29.49%
- YTD
- 69.89%
- 6M
- 35.83%
- 1Y
- 156.34%
- 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%
AVGX vs. USO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
AVGX Defiance Daily Target 2X Long AVGO ETF | 69.89% | 46.98% | 69.92% |
USO United States Oil Fund LP | 103.67% | -8.46% | 2.68% |
Correlation
The correlation between AVGX and USO 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 (All Time) Calculated using the full available price history since Aug 23, 2024 | -0.06 |
The correlation between AVGX and USO shifts across timeframes, from -0.18 (1 year) to -0.06 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
AVGX vs. USO — Risk / Return Rank
AVGX
USO
AVGX vs. USO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Defiance Daily Target 2X Long AVGO ETF (AVGX) 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.
| AVGX | USO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.48 | ||
| Sortino ratioReturn per unit of downside risk | -0.44 | ||
| Omega ratioGain probability vs. loss probability | 1.31 | 1.38 | -0.08 |
| Calmar ratioReturn relative to maximum drawdown | 2.91 | 5.01 | -2.10 |
| Martin ratioReturn relative to average drawdown | 6.49 | 9.42 | -2.93 |
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
| AVGX | USO | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.83 | 2.31 | -0.48 |
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 | 1.21 | -0.18 | +1.39 |
Drawdowns
AVGX vs. USO - Drawdown Comparison
The maximum AVGX drawdown since its inception was -70.97%, smaller than the maximum USO drawdown of -98.19%. Use the drawdown chart below to compare losses from any high point for AVGX and USO.
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Drawdown Indicators
| AVGX | USO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -70.97% | -98.19% | +27.22% |
Max Drawdown (1Y)Largest decline over 1 year | -54.09% | -20.39% | -33.70% |
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 | -0.83% | -85.01% | +84.18% |
Average DrawdownAverage peak-to-trough decline | -22.71% | -75.30% | +52.59% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 24.20% | 10.82% | +13.38% |
Volatility
AVGX vs. USO - Volatility Comparison
Defiance Daily Target 2X Long AVGO ETF (AVGX) has a higher volatility of 23.50% compared to United States Oil Fund LP (USO) at 14.87%. This indicates that AVGX's price experiences larger fluctuations and is considered to be riskier 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
| AVGX | USO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 23.50% | 14.87% | +8.63% |
Volatility (6M)Calculated over the trailing 6-month period | 61.90% | 38.23% | +23.67% |
Volatility (1Y)Calculated over the trailing 1-year period | 85.97% | 44.20% | +41.77% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 104.65% | 36.06% | +68.59% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 104.65% | 39.00% | +65.65% |
AVGX vs. USO - Expense Ratio Comparison
AVGX has a 1.29% expense ratio, which is higher than USO's 0.86% expense ratio.
Dividends
AVGX vs. USO - Dividend Comparison
AVGX's dividend yield for the trailing twelve months is around 0.97%, while USO has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 |
|---|---|---|---|
AVGX Defiance Daily Target 2X Long AVGO ETF | 0.97% | 1.65% | 0.81% |
USO United States Oil Fund LP | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
AVGX and USO 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.
AVGX has higher volatility (23.50%) compared to USO (14.87%). In terms of maximum drawdown, AVGX dropped -70.97% vs USO's -98.19%.
On 1-year performance, AVGX leads with 156.34% vs 101.55% for USO. On fees, USO is cheaper at 0.86% per year. On volatility, USO has been the lower-risk option at 14.87%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, AVGX has performed better with a 156.34% return vs 101.55%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
USO is cheaper with a 0.86% expense ratio, compared with 1.29% for AVGX.
AVGX has the higher dividend yield at 0.97%, compared with 0.00% for USO.
AVGX is categorized as Leveraged Equities, while USO is Oil & Gas. They also come from different issuers: Defiance and USCF. Their fees differ too: 1.29% for AVGX and 0.86% for USO.
USO currently has the higher Sharpe Ratio (2.31 vs 1.83), 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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