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CARZ vs. USO
Performance
Return for Risk
Drawdowns
Volatility
Dividends

CARZ vs. USO

Last updated Jun 3, 2026

CARZ (First Trust NASDAQ Global Auto Index Fund) and USO (United States Oil Fund LP) are both exchange-traded funds - CARZ is a Consumer Discretionary Equities fund tracking the NASDAQ OMX Global Automobile (TR), while USO is a Oil & Gas fund tracking the Front Month Light Sweet Crude Oil. Both are passively managed. Over the past 10 years, CARZ returned 16.53%/yr vs 3.80%/yr for USO. At a 0.21 correlation, their price movements are largely independent. CARZ charges 0.70%/yr vs 0.86%/yr for USO.

Performance

CARZ vs. USO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in First Trust NASDAQ Global Auto Index Fund (CARZ) and United States Oil Fund LP (USO). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, CARZ achieves a 58.10% return, which is significantly lower than USO's 98.48% return. Over the past 10 years, CARZ has outperformed USO with an annualized return of 16.53%, while USO has yielded a comparatively lower 3.80% annualized return.

CARZ

1D
2.83%
1M
18.55%
YTD
58.10%
6M
63.30%
1Y
118.34%
3Y*
34.35%
5Y*
16.84%
10Y*
16.53%

USO

1D
1.31%
1M
-3.87%
YTD
98.48%
6M
95.54%
1Y
97.37%
3Y*
28.86%
5Y*
23.92%
10Y*
3.80%
*Multi-year figures are annualized to reflect compound growth (CAGR)

CARZ vs. USO - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
CARZ
First Trust NASDAQ Global Auto Index Fund		58.10%37.18%3.26%42.47%-31.25%18.09%54.66%11.39%-23.91%25.47%
USO
United States Oil Fund LP		98.48%-8.46%13.35%-4.94%28.97%64.68%-67.79%32.61%-19.57%2.47%

Correlation

The correlation between CARZ and USO is -0.27, 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

-0.27

Correlation (3Y)
Calculated over the trailing 3-year period

-0.02

Correlation (5Y)
Calculated over the trailing 5-year period

0.08

Correlation (10Y)
Calculated over the trailing 10-year period

0.16

Correlation (All Time)
Calculated using the full available price history since May 11, 2011

0.21

The correlation between CARZ and USO shifts across timeframes, from -0.27 (1 year) to 0.21 (all time), reflecting how their relationship changes across market environments.

Compare stocks, funds, or ETFs

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First Trust NASDAQ Global Auto Index Fund

United States Oil Fund LP

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CARZ vs. VCARCARZ vs. XTNCARZ vs. VCRCARZ vs. XLKCARZ vs. IDRVCARZ vs. QQQCARZ vs. SMH
Often compared with USO:
USO vs. XLEUSO vs. BNOUSO vs. UCOUSO vs. USLUSO vs. OILKUSO vs. DBOUSO vs. WTI

Return for Risk

CARZ vs. USO — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
CARZ
CARZ Risk / Return Rank: 9595
Overall Rank
CARZ Sharpe Ratio Rank: 9797
Sharpe Ratio Rank
CARZ Sortino Ratio Rank: 9595
Sortino Ratio Rank
CARZ Omega Ratio Rank: 9494
Omega Ratio Rank
CARZ Calmar Ratio Rank: 9595
Calmar Ratio Rank
CARZ Martin Ratio Rank: 9696
Martin Ratio Rank
USO
USO Risk / Return Rank: 6666
Overall Rank
USO Sharpe Ratio Rank: 6666
Sharpe Ratio Rank
USO Sortino Ratio Rank: 5959
Sortino Ratio Rank
USO Omega Ratio Rank: 6161
Omega Ratio Rank
USO Calmar Ratio Rank: 8888
Calmar Ratio Rank
USO Martin Ratio Rank: 5555
Martin Ratio Rank
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.

CARZ vs. USO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for First Trust NASDAQ Global Auto Index Fund (CARZ) 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.

CARZUSODifference

Sharpe ratio

Return per unit of total volatility

4.62

2.22

+2.40

Sortino ratio

Return per unit of downside risk

5.26

2.81

+2.44

Omega ratio

Gain probability vs. loss probability

1.71

1.37

+0.33

Calmar ratio

Return relative to maximum drawdown

8.16

5.12

+3.04

Martin ratio

Return relative to average drawdown

33.04

9.66

+23.38

Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

CARZ vs. USO - Sharpe Ratio Comparison

The current CARZ Sharpe Ratio is 4.62, which is higher than the USO Sharpe Ratio of 2.22. The chart below compares the historical Sharpe Ratios of CARZ 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.

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Sharpe Ratios by Period

CARZUSODifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

4.62

2.22

+2.40

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.60

0.67

-0.07

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.63

0.10

+0.53

Sharpe Ratio (All Time)

Calculated using the full available price history

0.46

-0.18

+0.64

Drawdowns

CARZ vs. USO - Drawdown Comparison

The maximum CARZ drawdown since its inception was -51.20%, smaller than the maximum USO drawdown of -98.19%. Use the drawdown chart below to compare losses from any high point for CARZ and USO.

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Drawdown Indicators

CARZUSODifference

Max Drawdown

Largest peak-to-trough decline

-51.20%

-98.19%

+46.99%

Max Drawdown (1Y)

Largest decline over 1 year

-14.44%

-20.39%

+5.95%

Max Drawdown (3Y)

Largest decline over 3 years

-27.84%

-26.05%

-1.79%

Max Drawdown (5Y)

Largest decline over 5 years

-40.30%

-36.23%

-4.07%

Max Drawdown (10Y)

Largest decline over 10 years

-51.20%

-86.75%

+35.55%

Current Drawdown

Current decline from peak

0.00%

-85.39%

+85.39%

Average Drawdown

Average peak-to-trough decline

-12.90%

-75.30%

+62.40%

Ulcer Index

Depth and duration of drawdowns from previous peaks

3.57%

10.81%

-7.24%

Volatility

CARZ vs. USO - Volatility Comparison

The current volatility for First Trust NASDAQ Global Auto Index Fund (CARZ) is 10.21%, while United States Oil Fund LP (USO) has a volatility of 15.03%. This indicates that CARZ 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.

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Volatility by Period

CARZUSODifference

Volatility (1M)

Calculated over the trailing 1-month period

10.21%

15.03%

-4.82%

Volatility (6M)

Calculated over the trailing 6-month period

20.31%

38.18%

-17.87%

Volatility (1Y)

Calculated over the trailing 1-year period

25.79%

44.26%

-18.47%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

28.11%

36.04%

-7.93%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

26.28%

39.00%

-12.72%

CARZ vs. USO - Expense Ratio Comparison

CARZ has a 0.70% expense ratio, which is lower than USO's 0.86% expense ratio.

Dividends

CARZ vs. USO - Dividend Comparison

CARZ's dividend yield for the trailing twelve months is around 1.35%, while USO has not paid dividends to shareholders.

PositionTTM20252024202320222021202020192018201720162015
CARZ
First Trust NASDAQ Global Auto Index Fund		1.35%2.13%1.17%1.40%1.59%2.25%0.63%3.23%2.85%2.11%2.47%1.64%
USO
United States Oil Fund LP		0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%

Frequently Asked Questions

CARZ and USO have a correlation of -0.27, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

USO has higher volatility (15.03%) compared to CARZ (10.21%). In terms of maximum drawdown, CARZ dropped -51.20% vs USO's -98.19%.

On 10-year performance, CARZ leads with 16.53% vs 3.80% for USO. On fees, CARZ is cheaper at 0.70% per year. On volatility, CARZ has been the lower-risk option at 10.21%. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 10-year period, CARZ has performed better with a 16.53% return vs 3.80%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

CARZ is cheaper with a 0.70% expense ratio, compared with 0.86% for USO.

CARZ has the higher dividend yield at 1.35%, compared with 0.00% for USO.

CARZ is categorized as Consumer Discretionary Equities, while USO is Oil & Gas. CARZ tracks NASDAQ OMX Global Automobile (TR), while USO tracks Front Month Light Sweet Crude Oil. They also come from different issuers: First Trust and USCF. Their fees differ too: 0.70% for CARZ and 0.86% for USO.

CARZ currently has the higher Sharpe Ratio (4.62 vs 2.22), 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.

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