BGDV vs. USO

Last updated Jun 24, 2026

BGDV (Bahl & Gaynor Dividend ETF) and USO (United States Oil Fund LP) are both exchange-traded funds - BGDV is a Large Cap Blend Equities fund actively managed by Bahl & Gaynor, while USO is a Oil & Gas fund tracking the Front Month Light Sweet Crude Oil. BGDV is actively managed, while USO is passively managed. Over the past year, BGDV returned 25.43% vs 45.61% for USO. At a correlation of -0.10, they often move in opposite directions. BGDV charges 0.45%/yr vs 0.86%/yr for USO.

Performance

BGDV vs. USO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Bahl & Gaynor Dividend ETF (BGDV) and United States Oil Fund LP (USO). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, BGDV achieves a 12.25% return, which is significantly lower than USO's 60.87% return.

BGDV

• 1D: -1.14%
• 1M: 1.40%
• YTD: 12.25%
• 6M: 11.70%
• 1Y: 25.43%
• 3Y*: —
• 5Y*: —
• 10Y*: —

USO

• 1D: -1.27%
• 1M: -21.05%
• YTD: 60.87%
• 6M: 58.26%
• 1Y: 45.61%
• 3Y*: 21.25%
• 5Y*: 17.42%
• 10Y*: 2.01%

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

BGDV vs. USO - Yearly Performance Comparison

	2026 (YTD)	2025	2024
BGDV Bahl & Gaynor Dividend ETF	12.25%	13.74%	-2.05%
USO United States Oil Fund LP	60.87%	-8.46%	3.03%

Correlation

The correlation between BGDV and USO is -0.24, 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	-0.24
Correlation (All Time) Calculated using the full available price history since Dec 12, 2024	-0.10

The correlation between BGDV and USO shifts across timeframes, from -0.24 (1 year) to -0.10 (all time), reflecting how their relationship changes across market environments.

Return for Risk

BGDV vs. USO — Risk / Return Rank

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

BGDV

BGDV Risk / Return Rank: 75
BGDV Sharpe Ratio Rank: 78
BGDV Sortino Ratio Rank: 79
BGDV Omega Ratio Rank: 75
BGDV Calmar Ratio Rank: 66
BGDV Martin Ratio Rank: 78

USO

USO Risk / Return Rank: 32
USO Sharpe Ratio Rank: 30
USO Sortino Ratio Rank: 33
USO Omega Ratio Rank: 32
USO Calmar Ratio Rank: 35
USO Martin Ratio Rank: 32

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.

BGDV vs. USO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Bahl & Gaynor Dividend ETF (BGDV) 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.

	BGDV	USO	Difference
Sharpe ratio: Return per unit of total volatility	2.24	1.05	+1.19
Sortino ratio: Return per unit of downside risk	3.17	1.68	+1.49
Omega ratio: Gain probability vs. loss probability	1.40	1.21	+0.19
Calmar ratio: Return relative to maximum drawdown	3.04	1.68	+1.36
Martin ratio: Return relative to average drawdown	13.77	4.57	+9.19

BGDV vs. USO - Sharpe Ratio Comparison

The current BGDV Sharpe Ratio is 2.24, which is higher than the USO Sharpe Ratio of 1.05. The chart below compares the historical Sharpe Ratios of BGDV and USO, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

BGDV vs. USO - Drawdown Comparison

The maximum BGDV drawdown since its inception was -14.80%, smaller than the maximum USO drawdown of -98.19%. Use the drawdown chart below to compare losses from any high point for BGDV and USO.

Drawdown Indicators

	BGDV	USO	Difference
Max Drawdown Largest peak-to-trough decline	-14.80%	-98.19%	+83.39%
Max Drawdown (1Y) Largest decline over 1 year	-8.41%	-27.26%	+18.85%
Max Drawdown (3Y) Largest decline over 3 years	—	-27.26%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-36.23%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-86.75%	—
Current Drawdown Current decline from peak	-1.36%	-88.16%	+86.80%
Average Drawdown Average peak-to-trough decline	-2.09%	-75.31%	+73.22%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.85%	10.02%	-8.17%

Volatility

BGDV vs. USO - Volatility Comparison

The current volatility for Bahl & Gaynor Dividend ETF (BGDV) is 3.50%, while United States Oil Fund LP (USO) has a volatility of 11.79%. This indicates that BGDV 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.

Volatility by Period

	BGDV	USO	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.50%	11.79%	-8.29%
Volatility (6M) Calculated over the trailing 6-month period	8.68%	39.34%	-30.66%
Volatility (1Y) Calculated over the trailing 1-year period	11.42%	44.35%	-32.93%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.08%	36.32%	-21.24%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.08%	39.02%	-23.94%

BGDV vs. USO - Expense Ratio Comparison

BGDV has a 0.45% expense ratio, which is lower than USO's 0.86% expense ratio.

Dividends

BGDV vs. USO - Dividend Comparison

BGDV's dividend yield for the trailing twelve months is around 0.99%, while USO has not paid dividends to shareholders.

Position	TTM	2025	2024
BGDV Bahl & Gaynor Dividend ETF	0.99%	1.13%	0.09%
USO United States Oil Fund LP	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both BGDV and USO in my portfolio?

BGDV and USO have a correlation of -0.24, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, BGDV or USO?

USO has higher volatility (11.79%) compared to BGDV (3.50%). In terms of maximum drawdown, BGDV dropped -14.80% vs USO's -98.19%.

Which ETF is better, BGDV or USO?

On 1-year performance, USO leads with 45.61% vs 25.43% for BGDV. On fees, BGDV is cheaper at 0.45% per year. On volatility, BGDV has been the lower-risk option at 3.50%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, BGDV or USO?

Over the 1-year period, USO has performed better with a 45.61% return vs 25.43%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, BGDV or USO?

BGDV is cheaper with a 0.45% expense ratio, compared with 0.86% for USO.

Which ETF pays a higher dividend yield, BGDV or USO?

BGDV has the higher dividend yield at 0.99%, compared with 0.00% for USO.

What is the main difference between BGDV and USO?

BGDV is categorized as Large Cap Blend Equities, while USO is Oil & Gas. They also come from different issuers: Bahl & Gaynor and USCF. Their fees differ too: 0.45% for BGDV and 0.86% for USO.

Which has better risk-adjusted returns?

BGDV currently has the higher Sharpe Ratio (2.24 vs 1.05), 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.