BTOT vs. USL
BTOT (iShares Total USD Fixed Income Market ETF) and USL (United States 12 Month Oil Fund, LP) are both exchange-traded funds - BTOT is a Total Bond Market fund tracking the Bloomberg US Total Fixed Income Market Index, while USL is a Oil & Gas fund tracking the Equal-Weighted 12-Month NYMEX WTI Crude Oil Futures Contracts. Both are passively managed. Their -0.50 correlation means they have often moved in opposite directions in the past. BTOT charges 0.09%/yr vs 1.02%/yr for USL.
Performance
BTOT vs. USL - Performance Comparison
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Returns By Period
In the year-to-date period, BTOT achieves a -0.09% return, which is significantly lower than USL's 45.48% return.
BTOT
- 1D
- 0.23%
- 1M
- -0.91%
- 6M
- -0.22%
- YTD
- -0.09%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- —
USL
- 1D
- -3.31%
- 1M
- 7.79%
- 6M
- 36.77%
- YTD
- 45.48%
- 1Y
- 32.44%
- 3Y*
- 8.87%
- 5Y*
- 14.75%
- 10Y*
- 10.99%
- ALL TIME*
- -0.23%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $31.83K | $48.31K | $75.14K | |
| $622.21K | $683.63K | $1.11M |
BTOT vs. USL - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
BTOT iShares Total USD Fixed Income Market ETF | -0.09% | 0.12% |
USL United States 12 Month Oil Fund, LP | 45.48% | -2.19% |
Correlation
The correlation between BTOT and USL is -0.50, meaning they have often moved in opposite directions in the past. This relationship can weaken or reverse as market conditions change.
| Correlation | |
|---|---|
Correlation (All Time) Calculated using the full available price history since Dec 11, 2025 | -0.50 |
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Return for Risk
BTOT vs. USL — Risk / Return Rank
BTOT
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
USL
BTOT vs. USL - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Total USD Fixed Income Market ETF (BTOT) and United States 12 Month Oil Fund, LP (USL). 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.
| BTOT | USL | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | — | 1.20 | — |
| Calmar ratioReturn relative to maximum drawdown | — | 1.56 | — |
| Martin ratioReturn relative to average drawdown | — | 4.30 | — |
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Drawdowns
BTOT vs. USL - Drawdown Comparison
The maximum BTOT drawdown since its inception was -2.36%, smaller than the maximum USL drawdown of -89.06%. Use the drawdown chart below to compare losses from any high point for BTOT and USL.
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Drawdown Indicators
| BTOT | USL | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -2.36% | -89.06% | +86.70% |
Max Drawdown (1Y)Largest decline over 1 year | — | -20.91% | — |
Max Drawdown (3Y)Largest decline over 3 years | — | -23.33% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -33.82% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -66.02% | — |
Current DrawdownCurrent decline from peak | -1.66% | -44.83% | +43.17% |
Average DrawdownAverage peak-to-trough decline | -0.86% | -61.29% | +60.43% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | — | 7.57% | — |
Volatility
BTOT vs. USL - Volatility Comparison
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Volatility by Period
| BTOT | USL | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | — | 11.15% | — |
Volatility (6M)Calculated over the trailing 6-month period | — | 25.98% | — |
Volatility (1Y)Calculated over the trailing 1-year period | 3.62% | 29.96% | -26.34% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 3.62% | 30.38% | -26.76% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 3.62% | 32.36% | -28.74% |
BTOT vs. USL - Expense Ratio Comparison
BTOT has a 0.09% expense ratio, which is lower than USL's 1.02% expense ratio.
Dividends
BTOT vs. USL - Dividend Comparison
BTOT's dividend yield for the trailing twelve months is around 2.93%, while USL has not paid dividends to shareholders.
| Position | TTM | 2025 |
|---|---|---|
BTOT iShares Total USD Fixed Income Market ETF | 2.93% | 0.22% |
USL United States 12 Month Oil Fund, LP | 0.00% | 0.00% |
Frequently Asked Questions
BTOT and USL have a correlation of -0.50, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, BTOT is cheaper at 0.09% per year. The better choice depends on whether you care most about return, fees, risk, or income.
BTOT is cheaper with a 0.09% expense ratio, compared with 1.02% for USL.
BTOT has the higher dividend yield at 2.93%, compared with 0.00% for USL.
BTOT is categorized as Total Bond Market, while USL is Oil & Gas. BTOT tracks Bloomberg US Total Fixed Income Market Index, while USL tracks Equal-Weighted 12-Month NYMEX WTI Crude Oil Futures Contracts. They also come from different issuers: iShares and USCF. Their fees differ too: 0.09% for BTOT and 1.02% for USL.
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