BPAY vs. USO
BPAY (BlackRock Future Financial and Technology ETF) and USO (United States Oil Fund LP) are both exchange-traded funds - BPAY is a Financials Equities fund actively managed by BlackRock, while USO is a Oil & Gas fund tracking the Front Month Light Sweet Crude Oil. BPAY is actively managed, while USO is passively managed. Over the past 3 years, BPAY returned 9.60%/yr vs 28.78%/yr for USO. At a 0.08 correlation, their price movements are largely independent. BPAY charges 0.70%/yr vs 0.86%/yr for USO.
Performance
BPAY vs. USO - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, BPAY achieves a -10.58% return, which is significantly lower than USO's 97.72% return.
BPAY
- 1D
- 2.12%
- 1M
- -1.68%
- YTD
- -10.58%
- 6M
- -13.16%
- 1Y
- -9.61%
- 3Y*
- 9.60%
- 5Y*
- —
- 10Y*
- —
USO
- 1D
- -2.92%
- 1M
- -5.15%
- YTD
- 97.72%
- 6M
- 91.54%
- 1Y
- 97.20%
- 3Y*
- 28.78%
- 5Y*
- 23.67%
- 10Y*
- 3.57%
BPAY vs. USO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
BPAY BlackRock Future Financial and Technology ETF | -10.58% | 8.54% | 17.28% | 13.19% | -16.39% |
USO United States Oil Fund LP | 97.72% | -8.46% | 13.35% | -4.94% | -5.52% |
Correlation
The correlation between BPAY and USO is -0.22, 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 | -0.22 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.03 |
Correlation (All Time) Calculated using the full available price history since Aug 19, 2022 | 0.08 |
The correlation between BPAY and USO shifts across timeframes, from -0.22 (1 year) to 0.08 (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
BPAY vs. USO — Risk / Return Rank
BPAY
USO
BPAY vs. USO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for BlackRock Future Financial and Technology ETF (BPAY) 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.
| BPAY | USO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.58 | ||
| Sortino ratioReturn per unit of downside risk | -3.15 | ||
| Omega ratioGain probability vs. loss probability | 0.96 | 1.37 | -0.41 |
| Calmar ratioReturn relative to maximum drawdown | -0.29 | 4.79 | -5.08 |
| Martin ratioReturn relative to average drawdown | -0.56 | 9.00 | -9.56 |
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
| BPAY | USO | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -0.37 | 2.21 | -2.58 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | 0.66 | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.09 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.08 | -0.18 | +0.26 |
Drawdowns
BPAY vs. USO - Drawdown Comparison
The maximum BPAY drawdown since its inception was -33.62%, smaller than the maximum USO drawdown of -98.19%. Use the drawdown chart below to compare losses from any high point for BPAY and USO.
Loading charts...
Drawdown Indicators
| BPAY | USO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -33.62% | -98.19% | +64.57% |
Max Drawdown (1Y)Largest decline over 1 year | -33.62% | -20.39% | -13.23% |
Max Drawdown (3Y)Largest decline over 3 years | -33.62% | -26.05% | -7.57% |
Max Drawdown (5Y)Largest decline over 5 years | — | -36.23% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -86.75% | — |
Current DrawdownCurrent decline from peak | -24.46% | -85.45% | +60.99% |
Average DrawdownAverage peak-to-trough decline | -10.55% | -75.30% | +64.75% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 17.05% | 10.84% | +6.21% |
Volatility
BPAY vs. USO - Volatility Comparison
The current volatility for BlackRock Future Financial and Technology ETF (BPAY) is 7.26%, while United States Oil Fund LP (USO) has a volatility of 14.97%. This indicates that BPAY 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
| BPAY | USO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 7.26% | 14.97% | -7.71% |
Volatility (6M)Calculated over the trailing 6-month period | 18.84% | 38.35% | -19.51% |
Volatility (1Y)Calculated over the trailing 1-year period | 26.06% | 44.32% | -18.26% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 24.36% | 36.09% | -11.73% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 24.36% | 39.00% | -14.64% |
BPAY vs. USO - Expense Ratio Comparison
BPAY has a 0.70% expense ratio, which is lower than USO's 0.86% expense ratio.
Dividends
BPAY vs. USO - Dividend Comparison
BPAY's dividend yield for the trailing twelve months is around 7.25%, while USO has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
BPAY BlackRock Future Financial and Technology ETF | 7.25% | 6.49% | 0.48% | 1.18% | 0.18% |
USO United States Oil Fund LP | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
BPAY and USO have a correlation of -0.22, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
USO has higher volatility (14.97%) compared to BPAY (7.26%). In terms of maximum drawdown, BPAY dropped -33.62% vs USO's -98.19%.
On 3-year performance, USO leads with 28.78% vs 9.60% for BPAY. On fees, BPAY is cheaper at 0.70% per year. On volatility, BPAY has been the lower-risk option at 7.26%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, USO has performed better with a 28.78% return vs 9.60%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
BPAY is cheaper with a 0.70% expense ratio, compared with 0.86% for USO.
BPAY has the higher dividend yield at 7.25%, compared with 0.00% for USO.
BPAY is categorized as Financials Equities, while USO is Oil & Gas. They also come from different issuers: BlackRock and USCF. Their fees differ too: 0.70% for BPAY and 0.86% for USO.
USO currently has the higher Sharpe Ratio (2.21 vs -0.37), 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 BPAY 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