CAML vs. USL

Last updated Jun 3, 2026

CAML (Congress Large Cap Growth ETF) and USL (United States 12 Month Oil Fund LP) are both exchange-traded funds - CAML is a Large Cap Growth Equities fund actively managed by Congress, while USL is a Oil & Gas fund tracking the 12 Month Light Sweet Crude Oil. CAML is actively managed, while USL is passively managed. Over the past year, CAML returned 16.70% vs 56.66% for USL. At a correlation of -0.07, they often move in opposite directions. CAML charges 0.65%/yr vs 0.88%/yr for USL.

Performance

CAML vs. USL - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Congress Large Cap Growth ETF (CAML) and United States 12 Month Oil Fund LP (USL). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, CAML achieves a 6.73% return, which is significantly lower than USL's 60.58% return.

CAML

• 1D: 0.15%
• 1M: 4.38%
• YTD: 6.73%
• 6M: 5.07%
• 1Y: 16.70%
• 3Y*: —
• 5Y*: —
• 10Y*: —

USL

• 1D: 1.21%
• 1M: 0.73%
• YTD: 60.58%
• 6M: 58.21%
• 1Y: 56.66%
• 3Y*: 17.81%
• 5Y*: 17.18%
• 10Y*: 10.74%

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

CAML vs. USL - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
CAML Congress Large Cap Growth ETF	6.73%	12.43%	23.24%	10.13%
USL United States 12 Month Oil Fund LP	60.58%	-12.37%	8.30%	-4.93%

Correlation

The correlation between CAML and USL is -0.28, 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	-0.28
Correlation (All Time) Calculated using the full available price history since Aug 23, 2023	-0.07

Over the past year, the inverse relationship between CAML and USL has strengthened: their correlation has moved from -0.07 to -0.28, meaning they now move in opposite directions more often than their long-term average.

CAML vs. USL - Sectors Allocation Comparison

Sectors	CAML	USL
Technology	44.2%	-
Consumer Cyclical	9.9%	-
Communication Services	9.5%	-
Financial Services	8.6%	4.5%
Industrials	8.2%	-
Healthcare	6.2%	-
Utilities	3.4%	-
Real Estate	2.4%	-
Consumer Defensive	2.3%	-
Energy	2.2%	-
Basic Materials	2.0%	-

Return for Risk

CAML vs. USL — Risk / Return Rank

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

CAML

CAML Risk / Return Rank: 29
CAML Sharpe Ratio Rank: 31
CAML Sortino Ratio Rank: 31
CAML Omega Ratio Rank: 30
CAML Calmar Ratio Rank: 24
CAML Martin Ratio Rank: 27

USL

USL Risk / Return Rank: 56
USL Sharpe Ratio Rank: 58
USL Sortino Ratio Rank: 52
USL Omega Ratio Rank: 53
USL Calmar Ratio Rank: 72
USL Martin Ratio Rank: 45

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.

CAML vs. USL - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Congress Large Cap Growth ETF (CAML) 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.

	CAML	USL	Difference
Sharpe ratio Return per unit of total volatility	1.15	2.00	-0.85
Sortino ratio Return per unit of downside risk	1.68	2.54	-0.86
Omega ratio Gain probability vs. loss probability	1.20	1.33	-0.13
Calmar ratio Return relative to maximum drawdown	1.16	3.67	-2.50
Martin ratio Return relative to average drawdown	3.84	7.44	-3.59
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

CAML vs. USL - Sharpe Ratio Comparison

The current CAML Sharpe Ratio is 1.15, which is lower than the USL Sharpe Ratio of 2.00. The chart below compares the historical Sharpe Ratios of CAML and USL, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	CAML	USL	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.15	2.00	-0.85
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.57	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.33	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.09	0.01	+1.08

Drawdowns

CAML vs. USL - Drawdown Comparison

The maximum CAML drawdown since its inception was -21.06%, smaller than the maximum USL drawdown of -89.06%. Use the drawdown chart below to compare losses from any high point for CAML and USL.

Drawdown Indicators

	CAML	USL	Difference
Max Drawdown Largest peak-to-trough decline	-21.06%	-89.06%	+68.00%
Max Drawdown (1Y) Largest decline over 1 year	-14.86%	-16.76%	+1.90%
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 Drawdown Current decline from peak	0.00%	-39.10%	+39.10%
Average Drawdown Average peak-to-trough decline	-3.08%	-61.46%	+58.38%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.50%	8.26%	-3.76%

Volatility

CAML vs. USL - Volatility Comparison

The current volatility for Congress Large Cap Growth ETF (CAML) is 3.59%, while United States 12 Month Oil Fund LP (USL) has a volatility of 11.15%. This indicates that CAML experiences smaller price fluctuations and is considered to be less risky than USL based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	CAML	USL	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.59%	11.15%	-7.56%
Volatility (6M) Calculated over the trailing 6-month period	11.35%	23.30%	-11.95%
Volatility (1Y) Calculated over the trailing 1-year period	14.61%	28.65%	-14.04%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.76%	30.07%	-12.31%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.76%	32.35%	-14.59%

CAML vs. USL - Expense Ratio Comparison

CAML has a 0.65% expense ratio, which is lower than USL's 0.88% expense ratio.

Dividends

CAML vs. USL - Dividend Comparison

Neither CAML nor USL has paid dividends to shareholders.

Position	TTM	2025	2024	2023
CAML Congress Large Cap Growth ETF	0.00%	0.00%	0.06%	0.15%
USL United States 12 Month Oil Fund LP	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both CAML and USL in my portfolio?

CAML and USL have a correlation of -0.28, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, CAML or USL?

USL has higher volatility (11.15%) compared to CAML (3.59%). In terms of maximum drawdown, CAML dropped -21.06% vs USL's -89.06%.

Which ETF is better, CAML or USL?

On 1-year performance, USL leads with 56.66% vs 16.70% for CAML. On fees, CAML is cheaper at 0.65% per year. On volatility, CAML has been the lower-risk option at 3.59%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, CAML or USL?

Over the 1-year period, USL has performed better with a 56.66% return vs 16.70%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, CAML or USL?

CAML is cheaper with a 0.65% expense ratio, compared with 0.88% for USL.

Which ETF pays a higher dividend yield, CAML or USL?

CAML and USL have nearly identical dividend yields, around 0.00%.

What is the main difference between CAML and USL?

CAML is categorized as Large Cap Growth Equities, while USL is Oil & Gas. They also come from different issuers: Congress and Concierge Technologies. Their fees differ too: 0.65% for CAML and 0.88% for USL.

Which has better risk-adjusted returns?

USL currently has the higher Sharpe Ratio (2.00 vs 1.15), 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.