BABX vs. USO
BABX (GraniteShares 2x Long BABA Daily ETF) and USO (United States Oil Fund LP) are both exchange-traded funds - BABX is a Leveraged Equities fund actively managed by GraniteShares, while USO is a Oil & Gas fund tracking the Front Month Light Sweet Crude Oil. BABX is actively managed, while USO is passively managed. Over the past 3 years, BABX returned 6.70%/yr vs 29.98%/yr for USO. At a 0.03 correlation, their price movements are largely independent. BABX charges 1.15%/yr vs 0.86%/yr for USO.
Performance
BABX vs. USO - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, BABX achieves a -32.66% return, which is significantly lower than USO's 103.67% return.
BABX
- 1D
- -5.49%
- 1M
- -11.33%
- YTD
- -32.66%
- 6M
- -42.73%
- 1Y
- -3.46%
- 3Y*
- 6.70%
- 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%
BABX vs. USO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
BABX GraniteShares 2x Long BABA Daily ETF | -32.66% | 123.85% | 1.23% | -33.89% | -7.32% |
USO United States Oil Fund LP | 103.67% | -8.46% | 13.35% | -4.94% | 6.45% |
Correlation
The correlation between BABX and USO is -0.14, 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 | -0.14 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.01 |
Correlation (All Time) Calculated using the full available price history since Dec 14, 2022 | 0.03 |
The correlation between BABX and USO shifts across timeframes, from -0.14 (1 year) to 0.03 (all time), reflecting how their relationship changes across market environments.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
BABX vs. USO — Risk / Return Rank
BABX
USO
BABX vs. USO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for GraniteShares 2x Long BABA Daily ETF (BABX) 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.
| BABX | USO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.35 | ||
| Sortino ratioReturn per unit of downside risk | -2.26 | ||
| Omega ratioGain probability vs. loss probability | 1.07 | 1.38 | -0.32 |
| Calmar ratioReturn relative to maximum drawdown | -0.05 | 5.01 | -5.06 |
| Martin ratioReturn relative to average drawdown | -0.10 | 9.42 | -9.51 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
Loading charts...
Sharpe Ratios by Period
| BABX | USO | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -0.04 | 2.31 | -2.35 |
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 | -0.02 | -0.18 | +0.15 |
Drawdowns
BABX vs. USO - Drawdown Comparison
The maximum BABX drawdown since its inception was -70.62%, smaller than the maximum USO drawdown of -98.19%. Use the drawdown chart below to compare losses from any high point for BABX and USO.
Loading charts...
Drawdown Indicators
| BABX | USO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -70.62% | -98.19% | +27.57% |
Max Drawdown (1Y)Largest decline over 1 year | -64.86% | -20.39% | -44.47% |
Max Drawdown (3Y)Largest decline over 3 years | -64.86% | -26.05% | -38.81% |
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 | -61.99% | -85.01% | +23.02% |
Average DrawdownAverage peak-to-trough decline | -45.24% | -75.30% | +30.06% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 36.29% | 10.82% | +25.47% |
Volatility
BABX vs. USO - Volatility Comparison
GraniteShares 2x Long BABA Daily ETF (BABX) has a higher volatility of 29.31% compared to United States Oil Fund LP (USO) at 14.87%. This indicates that BABX'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.
Loading charts...
Volatility by Period
| BABX | USO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 29.31% | 14.87% | +14.44% |
Volatility (6M)Calculated over the trailing 6-month period | 57.74% | 38.23% | +19.51% |
Volatility (1Y)Calculated over the trailing 1-year period | 87.52% | 44.20% | +43.32% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 83.12% | 36.06% | +47.06% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 83.12% | 39.00% | +44.12% |
BABX vs. USO - Expense Ratio Comparison
BABX has a 1.15% expense ratio, which is higher than USO's 0.86% expense ratio.
Dividends
BABX vs. USO - Dividend Comparison
Neither BABX nor USO has paid dividends to shareholders.
Frequently Asked Questions
BABX and USO have a correlation of -0.14, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
BABX has higher volatility (29.31%) compared to USO (14.87%). In terms of maximum drawdown, BABX dropped -70.62% vs USO's -98.19%.
On 3-year performance, USO leads with 29.98% vs 6.70% for BABX. 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 3-year period, USO has performed better with a 29.98% return vs 6.70%. 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 1.15% for BABX.
BABX and USO have nearly identical dividend yields, around 0.00%.
BABX is categorized as Leveraged Equities, while USO is Oil & Gas. They also come from different issuers: GraniteShares and USCF. Their fees differ too: 1.15% for BABX and 0.86% for USO.
USO currently has the higher Sharpe Ratio (2.31 vs -0.04), 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.
Find the right allocation for BABX and USO
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer