BBJP vs. USO
BBJP (JPMorgan BetaBuilders Japan ETF) and USO (United States Oil Fund LP) are both exchange-traded funds - BBJP is a Japan Equities fund tracking the Morningstar Japan Target Market Exposure Index, while USO is a Oil & Gas fund tracking the Front Month Light Sweet Crude Oil. Both are passively managed. Over the past 5 years, BBJP returned 8.67%/yr vs 22.54%/yr for USO. Their 0.12 correlation means their historical movements had little consistent relationship. BBJP charges 0.19%/yr vs 0.86%/yr for USO.
Performance
BBJP vs. USO - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, BBJP achieves a 11.90% return, which is significantly lower than USO's 97.64% return.
BBJP
- 1D
- 0.19%
- 1M
- -2.16%
- 6M
- 6.85%
- YTD
- 11.90%
- 1Y
- 24.42%
- 3Y*
- 16.52%
- 5Y*
- 8.67%
- 10Y*
- —
- ALL TIME*
- 7.64%
USO
- 1D
- -2.01%
- 1M
- 25.05%
- 6M
- 84.84%
- YTD
- 97.64%
- 1Y
- 82.62%
- 3Y*
- 24.31%
- 5Y*
- 22.54%
- 10Y*
- 5.42%
- ALL TIME*
- -6.60%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $122.93M | $111.87M | $115.37M | |
| $1.02B | $802.47M | $996.79M |
BBJP vs. USO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
BBJP JPMorgan BetaBuilders Japan ETF | 11.90% | 26.55% | 7.47% | 20.65% | -17.24% | 1.21% | 15.42% | 18.85% | -13.92% |
USO United States Oil Fund LP | 97.64% | -8.46% | 13.35% | -4.94% | 28.97% | 64.68% | -67.79% | 32.61% | -25.98% |
Correlation
The correlation between BBJP and USO is -0.27, meaning they have often moved in opposite directions in the past. This relationship can weaken or reverse as market conditions change.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | -0.27 |
Correlation (3Y) Balances recent behavior with more history. | -0.08 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.06 |
Correlation (All Time) Calculated using the full available price history since Jun 18, 2018 | 0.12 |
The correlation between BBJP and USO shifts across timeframes, from -0.27 (1 year) to 0.12 (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
BBJP vs. USO — Risk / Return Rank
BBJP
USO
BBJP vs. USO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for JPMorgan BetaBuilders Japan ETF (BBJP) 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.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| BBJP | USO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.61 | ||
| Sortino ratioReturn per unit of downside risk | -0.76 | ||
| Omega ratioGain probability vs. loss probability | 1.22 | 1.30 | -0.08 |
| Calmar ratioReturn relative to maximum drawdown | 1.70 | 2.46 | -0.77 |
| Martin ratioReturn relative to average drawdown | 5.53 | 6.41 | -0.88 |
Loading charts...
Drawdowns
BBJP vs. USO - Drawdown Comparison
The maximum BBJP drawdown since its inception was -32.66%, smaller than the maximum USO drawdown of -98.19%. Use the drawdown chart below to compare losses from any high point for BBJP and USO.
Loading charts...
Drawdown Indicators
| BBJP | USO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -32.66% | -98.19% | +65.53% |
Max Drawdown (1Y)Largest decline over 1 year | -13.60% | -32.49% | +18.89% |
Max Drawdown (3Y)Largest decline over 3 years | -14.49% | -32.49% | +18.00% |
Max Drawdown (5Y)Largest decline over 5 years | -32.66% | -36.23% | +3.57% |
Max Drawdown (10Y)Largest decline over 10 years | — | -86.75% | — |
Current DrawdownCurrent decline from peak | -5.62% | -85.46% | +79.84% |
Average DrawdownAverage peak-to-trough decline | -8.43% | -75.37% | +66.94% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.19% | 12.47% | -8.28% |
Volatility
BBJP vs. USO - Volatility Comparison
The current volatility for JPMorgan BetaBuilders Japan ETF (BBJP) is 5.94%, while United States Oil Fund LP (USO) has a volatility of 13.60%. This indicates that BBJP 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.
Loading charts...
Volatility by Period
| BBJP | USO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.94% | 13.60% | -7.66% |
Volatility (6M)Calculated over the trailing 6-month period | 16.84% | 41.19% | -24.35% |
Volatility (1Y)Calculated over the trailing 1-year period | 20.22% | 45.56% | -25.34% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 18.45% | 36.67% | -18.22% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.41% | 39.13% | -20.72% |
BBJP vs. USO - Expense Ratio Comparison
BBJP has a 0.19% expense ratio, which is lower than USO's 0.86% expense ratio.
Dividends
BBJP vs. USO - Dividend Comparison
BBJP's dividend yield for the trailing twelve months is around 4.80%, while USO has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
BBJP JPMorgan BetaBuilders Japan ETF | 4.80% | 5.37% | 2.80% | 3.05% | 1.52% | 2.89% | 1.12% | 2.31% | 0.65% |
USO United States Oil Fund LP | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
BBJP and USO have a correlation of -0.27, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
USO has higher volatility (13.60%) compared to BBJP (5.94%). In terms of maximum drawdown, BBJP dropped -32.66% vs USO's -98.19%.
On 5-year performance, USO leads with 22.54% vs 8.67% for BBJP. On fees, BBJP is cheaper at 0.19% per year. On volatility, BBJP has been the lower-risk option at 5.94%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, USO has performed better with a 22.54% return vs 8.67%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
BBJP is cheaper with a 0.19% expense ratio, compared with 0.86% for USO.
BBJP has the higher dividend yield at 4.80%, compared with 0.00% for USO.
BBJP is categorized as Japan Equities, while USO is Oil & Gas. BBJP tracks Morningstar Japan Target Market Exposure Index, while USO tracks Front Month Light Sweet Crude Oil. They also come from different issuers: JPMorgan and USCF. Their fees differ too: 0.19% for BBJP and 0.86% for USO.
USO currently has the higher Sharpe Ratio (1.76 vs 1.14), 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 BBJP 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