BKSE vs. USO
BKSE (BNY Mellon US Small Cap Core Equity ETF) and USO (United States Oil Fund LP) are both exchange-traded funds - BKSE is a Small Cap Growth Equities fund tracking the Morningstar US Small Cap 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, BKSE returned 6.65%/yr vs 22.99%/yr for USO. At a 0.16 correlation, their price movements are largely independent. BKSE charges 0.04%/yr vs 0.86%/yr for USO.
Performance
BKSE vs. USO - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, BKSE achieves a 11.75% return, which is significantly lower than USO's 92.34% return.
BKSE
- 1D
- -2.14%
- 1M
- -1.02%
- YTD
- 11.75%
- 6M
- 10.64%
- 1Y
- 31.49%
- 3Y*
- 16.44%
- 5Y*
- 6.65%
- 10Y*
- —
USO
- 1D
- -2.72%
- 1M
- -0.69%
- YTD
- 92.34%
- 6M
- 84.96%
- 1Y
- 90.22%
- 3Y*
- 27.76%
- 5Y*
- 22.99%
- 10Y*
- 3.13%
BKSE vs. USO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
BKSE BNY Mellon US Small Cap Core Equity ETF | 11.75% | 13.09% | 9.56% | 22.37% | -18.44% | 16.18% | 55.56% |
USO United States Oil Fund LP | 92.34% | -8.46% | 13.35% | -4.94% | 28.97% | 64.68% | -17.14% |
Correlation
The correlation between BKSE and USO is -0.25, 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 | -0.25 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.01 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.12 |
Correlation (All Time) Calculated using the full available price history since Apr 13, 2020 | 0.16 |
The correlation between BKSE and USO shifts across timeframes, from -0.25 (1 year) to 0.16 (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
BKSE vs. USO — Risk / Return Rank
BKSE
USO
BKSE vs. USO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for BNY Mellon US Small Cap Core Equity ETF (BKSE) 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.
| BKSE | USO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.26 | ||
| Sortino ratioReturn per unit of downside risk | -0.07 | ||
| Omega ratioGain probability vs. loss probability | 1.30 | 1.35 | -0.05 |
| Calmar ratioReturn relative to maximum drawdown | 3.36 | 4.45 | -1.08 |
| Martin ratioReturn relative to average drawdown | 11.70 | 8.33 | +3.38 |
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
| BKSE | USO | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.78 | 2.04 | -0.26 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.31 | 0.64 | -0.33 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.08 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.72 | -0.18 | +0.90 |
Drawdowns
BKSE vs. USO - Drawdown Comparison
The maximum BKSE drawdown since its inception was -29.08%, smaller than the maximum USO drawdown of -98.19%. Use the drawdown chart below to compare losses from any high point for BKSE and USO.
Loading charts...
Drawdown Indicators
| BKSE | USO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -29.08% | -98.19% | +69.11% |
Max Drawdown (1Y)Largest decline over 1 year | -9.40% | -20.39% | +10.99% |
Max Drawdown (3Y)Largest decline over 3 years | -26.76% | -26.05% | -0.71% |
Max Drawdown (5Y)Largest decline over 5 years | -29.08% | -36.23% | +7.15% |
Max Drawdown (10Y)Largest decline over 10 years | — | -86.75% | — |
Current DrawdownCurrent decline from peak | -2.23% | -85.85% | +83.62% |
Average DrawdownAverage peak-to-trough decline | -9.05% | -75.30% | +66.25% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.70% | 10.87% | -8.17% |
Volatility
BKSE vs. USO - Volatility Comparison
The current volatility for BNY Mellon US Small Cap Core Equity ETF (BKSE) is 4.80%, while United States Oil Fund LP (USO) has a volatility of 13.30%. This indicates that BKSE 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
| BKSE | USO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.80% | 13.30% | -8.50% |
Volatility (6M)Calculated over the trailing 6-month period | 12.12% | 38.49% | -26.37% |
Volatility (1Y)Calculated over the trailing 1-year period | 17.72% | 44.41% | -26.69% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 21.45% | 36.09% | -14.64% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 22.30% | 39.01% | -16.71% |
BKSE vs. USO - Expense Ratio Comparison
BKSE has a 0.04% expense ratio, which is lower than USO's 0.86% expense ratio.
Dividends
BKSE vs. USO - Dividend Comparison
BKSE's dividend yield for the trailing twelve months is around 1.18%, while USO has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|---|---|
BKSE BNY Mellon US Small Cap Core Equity ETF | 1.18% | 1.26% | 1.55% | 1.38% | 1.50% | 1.17% | 0.82% |
USO United States Oil Fund LP | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
BKSE and USO have a correlation of -0.25, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
USO has higher volatility (13.30%) compared to BKSE (4.80%). In terms of maximum drawdown, BKSE dropped -29.08% vs USO's -98.19%.
On 5-year performance, USO leads with 22.99% vs 6.65% for BKSE. On fees, BKSE is cheaper at 0.04% per year. On volatility, BKSE has been the lower-risk option at 4.80%. 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 22.99% return vs 6.65%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
BKSE is cheaper with a 0.04% expense ratio, compared with 0.86% for USO.
BKSE has the higher dividend yield at 1.18%, compared with 0.00% for USO.
BKSE is categorized as Small Cap Growth Equities, while USO is Oil & Gas. BKSE tracks Morningstar US Small Cap Index, while USO tracks Front Month Light Sweet Crude Oil. They also come from different issuers: BNY Mellon and USCF. Their fees differ too: 0.04% for BKSE and 0.86% for USO.
USO currently has the higher Sharpe Ratio (2.04 vs 1.78), 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 BKSE 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