BFEB vs. USO
BFEB (Innovator S&P 500 Buffer ETF - February) and USO (United States Oil Fund LP) are both exchange-traded funds - BFEB is a Options Trading fund tracking the Cboe S&P 500 Buffer Protect Index February Series, while USO is a Oil & Gas fund tracking the Front Month Light Sweet Crude Oil. Both are passively managed. Over the past 5 years, BFEB returned 11.70%/yr vs 24.41%/yr for USO. At a 0.13 correlation, their price movements are largely independent. BFEB charges 0.79%/yr vs 0.86%/yr for USO.
Performance
BFEB vs. USO - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, BFEB achieves a 8.25% return, which is significantly lower than USO's 103.67% return.
BFEB
- 1D
- -0.29%
- 1M
- 2.99%
- YTD
- 8.25%
- 6M
- 9.24%
- 1Y
- 21.21%
- 3Y*
- 16.68%
- 5Y*
- 11.70%
- 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%
BFEB vs. USO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
BFEB Innovator S&P 500 Buffer ETF - February | 8.25% | 12.99% | 17.58% | 22.35% | -6.76% | 18.05% | 10.17% |
USO United States Oil Fund LP | 103.67% | -8.46% | 13.35% | -4.94% | 28.97% | 64.68% | -60.66% |
Correlation
The correlation between BFEB and USO is -0.32, 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 | -0.32 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.07 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.06 |
Correlation (All Time) Calculated using the full available price history since Feb 4, 2020 | 0.13 |
The correlation between BFEB and USO shifts across timeframes, from -0.32 (1 year) to 0.13 (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
BFEB vs. USO — Risk / Return Rank
BFEB
USO
BFEB vs. USO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Innovator S&P 500 Buffer ETF - February (BFEB) 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.
| BFEB | USO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.32 | ||
| Sortino ratioReturn per unit of downside risk | +0.87 | ||
| Omega ratioGain probability vs. loss probability | 1.51 | 1.38 | +0.13 |
| Calmar ratioReturn relative to maximum drawdown | 3.32 | 5.01 | -1.68 |
| Martin ratioReturn relative to average drawdown | 16.95 | 9.42 | +7.53 |
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
| BFEB | USO | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.63 | 2.31 | +0.32 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 1.03 | 0.68 | +0.35 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.10 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.90 | -0.18 | +1.07 |
Drawdowns
BFEB vs. USO - Drawdown Comparison
The maximum BFEB drawdown since its inception was -26.37%, smaller than the maximum USO drawdown of -98.19%. Use the drawdown chart below to compare losses from any high point for BFEB and USO.
Loading charts...
Drawdown Indicators
| BFEB | USO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -26.37% | -98.19% | +71.82% |
Max Drawdown (1Y)Largest decline over 1 year | -6.41% | -20.39% | +13.98% |
Max Drawdown (3Y)Largest decline over 3 years | -13.82% | -26.05% | +12.23% |
Max Drawdown (5Y)Largest decline over 5 years | -14.84% | -36.23% | +21.39% |
Max Drawdown (10Y)Largest decline over 10 years | — | -86.75% | — |
Current DrawdownCurrent decline from peak | -0.29% | -85.01% | +84.72% |
Average DrawdownAverage peak-to-trough decline | -2.69% | -75.30% | +72.61% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.25% | 10.82% | -9.57% |
Volatility
BFEB vs. USO - Volatility Comparison
The current volatility for Innovator S&P 500 Buffer ETF - February (BFEB) is 1.51%, while United States Oil Fund LP (USO) has a volatility of 14.87%. This indicates that BFEB 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
| BFEB | USO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.51% | 14.87% | -13.36% |
Volatility (6M)Calculated over the trailing 6-month period | 6.31% | 38.23% | -31.92% |
Volatility (1Y)Calculated over the trailing 1-year period | 8.10% | 44.20% | -36.10% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 11.39% | 36.06% | -24.67% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 14.19% | 39.00% | -24.81% |
BFEB vs. USO - Expense Ratio Comparison
BFEB has a 0.79% expense ratio, which is lower than USO's 0.86% expense ratio.
Dividends
BFEB vs. USO - Dividend Comparison
Neither BFEB nor USO has paid dividends to shareholders.
Frequently Asked Questions
BFEB and USO have a correlation of -0.32, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
USO has higher volatility (14.87%) compared to BFEB (1.51%). In terms of maximum drawdown, BFEB dropped -26.37% vs USO's -98.19%.
On 5-year performance, USO leads with 24.41% vs 11.70% for BFEB. On fees, BFEB is cheaper at 0.79% per year. On volatility, BFEB has been the lower-risk option at 1.51%. 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 24.41% return vs 11.70%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
BFEB is cheaper with a 0.79% expense ratio, compared with 0.86% for USO.
BFEB and USO have nearly identical dividend yields, around 0.00%.
BFEB is categorized as Options Trading, while USO is Oil & Gas. BFEB tracks Cboe S&P 500 Buffer Protect Index February Series, while USO tracks Front Month Light Sweet Crude Oil. They also come from different issuers: Innovator and USCF. Their fees differ too: 0.79% for BFEB and 0.86% for USO.
BFEB currently has the higher Sharpe Ratio (2.63 vs 2.31), 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 BFEB 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