CGNG vs. USO
CGNG (Capital Group New Geography Equity ETF) and USO (United States Oil Fund LP) are both exchange-traded funds - CGNG is a Emerging Markets Diversified fund actively managed by Capital Group, while USO is a Oil & Gas fund tracking the Front Month Light Sweet Crude Oil. CGNG is actively managed, while USO is passively managed. Over the past year, CGNG returned 33.89% vs 97.20% for USO. At a correlation of -0.09, they often move in opposite directions. CGNG charges 0.64%/yr vs 0.86%/yr for USO.
Performance
CGNG vs. USO - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, CGNG achieves a 15.66% return, which is significantly lower than USO's 97.72% return.
CGNG
- 1D
- -0.32%
- 1M
- 4.77%
- YTD
- 15.66%
- 6M
- 16.77%
- 1Y
- 33.89%
- 3Y*
- —
- 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%
CGNG vs. USO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
CGNG Capital Group New Geography Equity ETF | 15.66% | 29.78% | -0.97% |
USO United States Oil Fund LP | 97.72% | -8.46% | -5.47% |
Correlation
The correlation between CGNG and USO is -0.35, 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 | -0.35 |
Correlation (All Time) Calculated using the full available price history since Jun 28, 2024 | -0.09 |
Over the past year, the inverse relationship between CGNG and USO has strengthened: their correlation has moved from -0.09 to -0.35, meaning they now move in opposite directions more often than their long-term average.
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
CGNG vs. USO — Risk / Return Rank
CGNG
USO
CGNG vs. USO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Capital Group New Geography Equity ETF (CGNG) 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.
| CGNG | USO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.32 | ||
| Sortino ratioReturn per unit of downside risk | -0.14 | ||
| Omega ratioGain probability vs. loss probability | 1.35 | 1.37 | -0.02 |
| Calmar ratioReturn relative to maximum drawdown | 2.48 | 4.79 | -2.32 |
| Martin ratioReturn relative to average drawdown | 10.47 | 9.00 | +1.47 |
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
| CGNG | USO | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.89 | 2.21 | -0.32 |
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 | 1.26 | -0.18 | +1.44 |
Drawdowns
CGNG vs. USO - Drawdown Comparison
The maximum CGNG drawdown since its inception was -15.90%, smaller than the maximum USO drawdown of -98.19%. Use the drawdown chart below to compare losses from any high point for CGNG and USO.
Loading charts...
Drawdown Indicators
| CGNG | USO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -15.90% | -98.19% | +82.29% |
Max Drawdown (1Y)Largest decline over 1 year | -13.75% | -20.39% | +6.64% |
Max Drawdown (3Y)Largest decline over 3 years | — | -26.05% | — |
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 | -1.68% | -85.45% | +83.77% |
Average DrawdownAverage peak-to-trough decline | -2.84% | -75.30% | +72.46% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.25% | 10.84% | -7.59% |
Volatility
CGNG vs. USO - Volatility Comparison
The current volatility for Capital Group New Geography Equity ETF (CGNG) is 6.98%, while United States Oil Fund LP (USO) has a volatility of 14.97%. This indicates that CGNG 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
| CGNG | USO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.98% | 14.97% | -7.99% |
Volatility (6M)Calculated over the trailing 6-month period | 15.67% | 38.35% | -22.68% |
Volatility (1Y)Calculated over the trailing 1-year period | 18.05% | 44.32% | -26.27% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 18.15% | 36.09% | -17.94% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.15% | 39.00% | -20.85% |
CGNG vs. USO - Expense Ratio Comparison
CGNG has a 0.64% expense ratio, which is lower than USO's 0.86% expense ratio.
Dividends
CGNG vs. USO - Dividend Comparison
CGNG's dividend yield for the trailing twelve months is around 0.59%, while USO has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 |
|---|---|---|---|
CGNG Capital Group New Geography Equity ETF | 0.59% | 0.68% | 0.27% |
USO United States Oil Fund LP | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
CGNG and USO have a correlation of -0.35, 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 CGNG (6.98%). In terms of maximum drawdown, CGNG dropped -15.90% vs USO's -98.19%.
On 1-year performance, USO leads with 97.20% vs 33.89% for CGNG. On fees, CGNG is cheaper at 0.64% per year. On volatility, CGNG has been the lower-risk option at 6.98%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, USO has performed better with a 97.20% return vs 33.89%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
CGNG is cheaper with a 0.64% expense ratio, compared with 0.86% for USO.
CGNG has the higher dividend yield at 0.59%, compared with 0.00% for USO.
CGNG is categorized as Emerging Markets Diversified, while USO is Oil & Gas. They also come from different issuers: Capital Group and USCF. Their fees differ too: 0.64% for CGNG and 0.86% for USO.
USO currently has the higher Sharpe Ratio (2.21 vs 1.89), 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 CGNG 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