BSCZ vs. USO

Last updated Aug 2, 2026

BSCZ (Invesco BulletShares 2035 Corporate Bond ETF) and USO (United States Oil Fund LP) are both exchange-traded funds - BSCZ is a Corporate Bonds fund tracking the BulletShares® USD Corporate Bond 2035 Index, while USO is a Oil & Gas fund tracking the Front Month Light Sweet Crude Oil. Both are passively managed. Over the past year, BSCZ returned 1.73% vs 66.76% for USO. Their -0.43 correlation means they have often moved in opposite directions in the past. BSCZ charges 0.10%/yr vs 0.86%/yr for USO.

Performance

BSCZ vs. USO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco BulletShares 2035 Corporate Bond ETF (BSCZ) 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, BSCZ achieves a -1.16% return, which is significantly lower than USO's 86.77% return.

BSCZ

• 1D: -0.24%
• 1M: -1.85%
• 6M: -1.20%
• YTD: -1.16%
• 1Y: 1.73%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 3.91%

USO

• 1D: 1.33%
• 1M: 24.23%
• 6M: 62.44%
• YTD: 86.77%
• 1Y: 66.76%
• 3Y*: 20.97%
• 5Y*: 20.59%
• 10Y*: 5.64%
• ALL TIME*: -6.85%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
BSCZ Invesco BulletShares 2035 Corporate Bond ETF	$2.07M	$1.99M	$1.86M
USO United States Oil Fund LP	$968.42M	$871.56M	$931.57M

BSCZ vs. USO - Yearly Performance Comparison

	2026 (YTD)	2025
BSCZ Invesco BulletShares 2035 Corporate Bond ETF	-1.16%	5.67%
USO United States Oil Fund LP	86.77%	-3.41%

Correlation

The correlation between BSCZ and USO is -0.44, meaning they have often moved in opposite directions in the past. This relationship can weaken or reverse as market conditions change.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	-0.44
Correlation (All Time) Calculated using the full available price history since Jun 11, 2025	-0.43

Return for Risk

BSCZ vs. USO — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

BSCZ

BSCZ Risk / Return Rank: 24
BSCZ Sharpe Ratio Rank: 24
BSCZ Sortino Ratio Rank: 23
BSCZ Omega Ratio Rank: 21
BSCZ Calmar Ratio Rank: 26
BSCZ Martin Ratio Rank: 27

USO

USO Risk / Return Rank: 55
USO Sharpe Ratio Rank: 56
USO Sortino Ratio Rank: 59
USO Omega Ratio Rank: 57
USO Calmar Ratio Rank: 55
USO Martin Ratio Rank: 49

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

BSCZ vs. USO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco BulletShares 2035 Corporate Bond ETF (BSCZ) 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.

	BSCZ	USO	Difference
Sharpe ratio: Return per unit of total volatility	0.54	1.34	-0.79
Sortino ratio: Return per unit of downside risk	0.81	1.99	-1.18
Omega ratio: Gain probability vs. loss probability	1.09	1.25	-0.15
Calmar ratio: Return relative to maximum drawdown	0.82	1.93	-1.10
Martin ratio: Return relative to average drawdown	2.19	5.60	-3.41

BSCZ vs. USO - Sharpe Ratio Comparison

The current BSCZ Sharpe Ratio is 0.54, which is lower than the USO Sharpe Ratio of 1.34. The chart below compares the historical Sharpe Ratios of BSCZ 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

BSCZ vs. USO - Drawdown Comparison

The maximum BSCZ drawdown since its inception was -3.28%, smaller than the maximum USO drawdown of -98.19%. Use the drawdown chart below to compare losses from any high point for BSCZ and USO.

Drawdown Indicators

	BSCZ	USO	Difference
Max Drawdown Largest peak-to-trough decline	-3.28%	-98.19%	+94.91%
Max Drawdown (1Y) Largest decline over 1 year	-3.28%	-32.49%	+29.21%
Max Drawdown (3Y) Largest decline over 3 years	—	-32.49%	—
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	-2.77%	-86.26%	+83.49%
Average Drawdown Average peak-to-trough decline	-0.88%	-75.38%	+74.50%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.23%	12.03%	-10.80%

Volatility

BSCZ vs. USO - Volatility Comparison

The current volatility for Invesco BulletShares 2035 Corporate Bond ETF (BSCZ) is 1.30%, while United States Oil Fund LP (USO) has a volatility of 17.73%. This indicates that BSCZ 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

	BSCZ	USO	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.30%	17.73%	-16.43%
Volatility (6M) Calculated over the trailing 6-month period	3.93%	42.79%	-38.86%
Volatility (1Y) Calculated over the trailing 1-year period	4.98%	46.91%	-41.93%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	4.97%	37.06%	-32.09%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	4.97%	39.29%	-34.32%

BSCZ vs. USO - Expense Ratio Comparison

BSCZ has a 0.10% expense ratio, which is lower than USO's 0.86% expense ratio.

Dividends

BSCZ vs. USO - Dividend Comparison

BSCZ's dividend yield for the trailing twelve months is around 4.63%, while USO has not paid dividends to shareholders.

Position	TTM	2025
BSCZ Invesco BulletShares 2035 Corporate Bond ETF	4.63%	2.18%
USO United States Oil Fund LP	0.00%	0.00%

Frequently Asked Questions

Can I hold both BSCZ and USO in my portfolio?

BSCZ and USO have a correlation of -0.44, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, BSCZ or USO?

USO has higher volatility (17.73%) compared to BSCZ (1.30%). In terms of maximum drawdown, BSCZ dropped -3.28% vs USO's -98.19%.

Which ETF is better, BSCZ or USO?

On 1-year performance, USO leads with 66.76% vs 1.73% for BSCZ. On fees, BSCZ is cheaper at 0.10% per year. On volatility, BSCZ has been the lower-risk option at 1.30%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, BSCZ or USO?

Over the 1-year period, USO has performed better with a 66.76% return vs 1.73%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, BSCZ or USO?

BSCZ is cheaper with a 0.10% expense ratio, compared with 0.86% for USO.

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

BSCZ has the higher dividend yield at 4.63%, compared with 0.00% for USO.

What is the main difference between BSCZ and USO?

BSCZ is categorized as Corporate Bonds, while USO is Oil & Gas. BSCZ tracks BulletShares® USD Corporate Bond 2035 Index, while USO tracks Front Month Light Sweet Crude Oil. They also come from different issuers: Invesco and USCF. Their fees differ too: 0.10% for BSCZ and 0.86% for USO.

Which has better risk-adjusted returns?

USO currently has the higher Sharpe Ratio (1.34 vs 0.54), 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.