BCUS vs. USL

Last updated Jun 4, 2026

BCUS (Bancreek U.S. Large Cap ETF) and USL (United States 12 Month Oil Fund LP) are both exchange-traded funds - BCUS is a Large Cap Blend Equities fund actively managed by Bancreek, while USL is a Oil & Gas fund tracking the 12 Month Light Sweet Crude Oil. BCUS is actively managed, while USL is passively managed. Over the past year, BCUS returned 14.30% vs 57.86% for USL. At a correlation of -0.09, they often move in opposite directions. BCUS charges 0.70%/yr vs 0.88%/yr for USL.

Performance

BCUS vs. USL - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Bancreek U.S. Large Cap ETF (BCUS) and United States 12 Month Oil Fund LP (USL). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, BCUS achieves a 10.83% return, which is significantly lower than USL's 63.07% return.

BCUS

• 1D: -0.72%
• 1M: 3.44%
• YTD: 10.83%
• 6M: 10.63%
• 1Y: 14.30%
• 3Y*: —
• 5Y*: —
• 10Y*: —

USL

• 1D: 1.55%
• 1M: -1.61%
• YTD: 63.07%
• 6M: 59.66%
• 1Y: 57.86%
• 3Y*: 18.42%
• 5Y*: 17.41%
• 10Y*: 10.91%

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

BCUS vs. USL - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
BCUS Bancreek U.S. Large Cap ETF	10.83%	6.56%	21.22%	0.56%
USL United States 12 Month Oil Fund LP	63.07%	-12.37%	8.30%	-3.22%

Correlation

The correlation between BCUS and USL is -0.27, 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	-0.27
Correlation (All Time) Calculated using the full available price history since Dec 22, 2023	-0.09

The correlation between BCUS and USL shifts across timeframes, from -0.27 (1 year) to -0.09 (all time), reflecting how their relationship changes across market environments.

BCUS vs. USL - Sectors Allocation Comparison

Sectors	BCUS	USL
Industrials	26.4%	-
Technology	19.3%	-
Consumer Cyclical	12.0%	-
Communication Services	10.8%	-
Basic Materials	9.7%	-
Financial Services	6.2%	4.5%
Utilities	5.6%	-
Energy	4.1%	-
Consumer Defensive	3.3%	-
Healthcare	2.7%	-
Real Estate	-	-

Return for Risk

BCUS vs. USL — Risk / Return Rank

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

BCUS

BCUS Risk / Return Rank: 31
BCUS Sharpe Ratio Rank: 28
BCUS Sortino Ratio Rank: 29
BCUS Omega Ratio Rank: 28
BCUS Calmar Ratio Rank: 30
BCUS Martin Ratio Rank: 37

USL

USL Risk / Return Rank: 56
USL Sharpe Ratio Rank: 59
USL Sortino Ratio Rank: 53
USL Omega Ratio Rank: 54
USL Calmar Ratio Rank: 69
USL Martin Ratio Rank: 43

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.

BCUS vs. USL - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Bancreek U.S. Large Cap ETF (BCUS) and United States 12 Month Oil Fund LP (USL). 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.

	BCUS	USL	Difference
Sharpe ratio: Return per unit of total volatility	1.01	2.04	-1.03
Sortino ratio: Return per unit of downside risk	1.57	2.58	-1.01
Omega ratio: Gain probability vs. loss probability	1.19	1.34	-0.15
Calmar ratio: Return relative to maximum drawdown	1.46	3.47	-2.01
Martin ratio: Return relative to average drawdown	5.71	7.02	-1.31
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

BCUS vs. USL - Sharpe Ratio Comparison

The current BCUS Sharpe Ratio is 1.01, which is lower than the USL Sharpe Ratio of 2.04. The chart below compares the historical Sharpe Ratios of BCUS and USL, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	BCUS	USL	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.01	2.04	-1.03
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.58	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.34	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.00	0.01	+0.99

Drawdowns

BCUS vs. USL - Drawdown Comparison

The maximum BCUS drawdown since its inception was -18.14%, smaller than the maximum USL drawdown of -89.06%. Use the drawdown chart below to compare losses from any high point for BCUS and USL.

Drawdown Indicators

	BCUS	USL	Difference
Max Drawdown Largest peak-to-trough decline	-18.14%	-89.06%	+70.92%
Max Drawdown (1Y) Largest decline over 1 year	-9.81%	-16.76%	+6.95%
Max Drawdown (3Y) Largest decline over 3 years	—	-23.33%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-33.82%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-66.02%	—
Current Drawdown Current decline from peak	-0.72%	-38.16%	+37.44%
Average Drawdown Average peak-to-trough decline	-2.92%	-61.46%	+58.54%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.53%	8.27%	-5.74%

Volatility

BCUS vs. USL - Volatility Comparison

The current volatility for Bancreek U.S. Large Cap ETF (BCUS) is 5.34%, while United States 12 Month Oil Fund LP (USL) has a volatility of 10.53%. This indicates that BCUS experiences smaller price fluctuations and is considered to be less risky than USL based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	BCUS	USL	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.34%	10.53%	-5.19%
Volatility (6M) Calculated over the trailing 6-month period	12.11%	23.33%	-11.22%
Volatility (1Y) Calculated over the trailing 1-year period	14.29%	28.54%	-14.25%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.20%	30.08%	-13.88%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.20%	32.35%	-16.15%

BCUS vs. USL - Expense Ratio Comparison

BCUS has a 0.70% expense ratio, which is lower than USL's 0.88% expense ratio.

Dividends

BCUS vs. USL - Dividend Comparison

BCUS's dividend yield for the trailing twelve months is around 0.32%, while USL has not paid dividends to shareholders.

Position	TTM	2025	2024
BCUS Bancreek U.S. Large Cap ETF	0.32%	0.49%	0.23%
USL United States 12 Month Oil Fund LP	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both BCUS and USL in my portfolio?

BCUS and USL 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.

Which is riskier, BCUS or USL?

USL has higher volatility (10.53%) compared to BCUS (5.34%). In terms of maximum drawdown, BCUS dropped -18.14% vs USL's -89.06%.

Which ETF is better, BCUS or USL?

On 1-year performance, USL leads with 57.86% vs 14.30% for BCUS. On fees, BCUS is cheaper at 0.70% per year. On volatility, BCUS has been the lower-risk option at 5.34%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, BCUS or USL?

Over the 1-year period, USL has performed better with a 57.86% return vs 14.30%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, BCUS or USL?

BCUS is cheaper with a 0.70% expense ratio, compared with 0.88% for USL.

Which ETF pays a higher dividend yield, BCUS or USL?

BCUS has the higher dividend yield at 0.32%, compared with 0.00% for USL.

What is the main difference between BCUS and USL?

BCUS is categorized as Large Cap Blend Equities, while USL is Oil & Gas. They also come from different issuers: Bancreek and Concierge Technologies. Their fees differ too: 0.70% for BCUS and 0.88% for USL.

Which has better risk-adjusted returns?

USL currently has the higher Sharpe Ratio (2.04 vs 1.01), 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.