CLOU vs. USO
CLOU (Global X Cloud Computing ETF) and USO (United States Oil Fund LP) are both exchange-traded funds - CLOU is a Technology Equities fund tracking the Indxx Global Cloud Computing Index, while USO is a Oil & Gas fund tracking the Front Month Light Sweet Crude Oil. Both are passively managed. Over the past 5 years, CLOU returned 0.30%/yr vs 23.92%/yr for USO. At a 0.10 correlation, their price movements are largely independent. CLOU charges 0.68%/yr vs 0.86%/yr for USO.
Performance
CLOU vs. USO - Performance Comparison
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Returns By Period
In the year-to-date period, CLOU achieves a 13.35% return, which is significantly lower than USO's 98.48% return.
CLOU
- 1D
- -2.81%
- 1M
- 21.81%
- YTD
- 13.35%
- 6M
- 13.05%
- 1Y
- 11.58%
- 3Y*
- 10.56%
- 5Y*
- 0.30%
- 10Y*
- —
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%
CLOU vs. USO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
CLOU Global X Cloud Computing ETF | 13.35% | -5.59% | 5.74% | 41.36% | -39.56% | -3.27% | 77.18% | 4.79% |
USO United States Oil Fund LP | 98.48% | -8.46% | 13.35% | -4.94% | 28.97% | 64.68% | -67.79% | -4.19% |
Correlation
The correlation between CLOU and USO is -0.11, 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 | -0.11 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.00 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.06 |
Correlation (All Time) Calculated using the full available price history since Apr 17, 2019 | 0.10 |
The correlation between CLOU and USO shifts across timeframes, from -0.11 (1 year) to 0.10 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
CLOU vs. USO — Risk / Return Rank
CLOU
USO
CLOU vs. USO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Global X Cloud Computing ETF (CLOU) 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.
| CLOU | USO | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 0.40 | 2.22 | -1.82 |
Sortino ratioReturn per unit of downside risk | 0.75 | 2.81 | -2.06 |
Omega ratioGain probability vs. loss probability | 1.09 | 1.37 | -0.28 |
Calmar ratioReturn relative to maximum drawdown | 0.44 | 5.12 | -4.68 |
Martin ratioReturn relative to average drawdown | 1.09 | 9.66 | -8.57 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| CLOU | USO | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.40 | 2.22 | -1.82 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.01 | 0.67 | -0.66 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.10 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.26 | -0.18 | +0.44 |
Drawdowns
CLOU vs. USO - Drawdown Comparison
The maximum CLOU drawdown since its inception was -53.74%, smaller than the maximum USO drawdown of -98.19%. Use the drawdown chart below to compare losses from any high point for CLOU and USO.
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Drawdown Indicators
| CLOU | USO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -53.74% | -98.19% | +44.45% |
Max Drawdown (1Y)Largest decline over 1 year | -27.24% | -20.39% | -6.85% |
Max Drawdown (3Y)Largest decline over 3 years | -33.18% | -26.05% | -7.13% |
Max Drawdown (5Y)Largest decline over 5 years | -53.74% | -36.23% | -17.51% |
Max Drawdown (10Y)Largest decline over 10 years | — | -86.75% | — |
Current DrawdownCurrent decline from peak | -18.82% | -85.39% | +66.57% |
Average DrawdownAverage peak-to-trough decline | -24.42% | -75.30% | +50.88% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 11.01% | 10.81% | +0.20% |
Volatility
CLOU vs. USO - Volatility Comparison
The current volatility for Global X Cloud Computing ETF (CLOU) is 13.10%, while United States Oil Fund LP (USO) has a volatility of 15.03%. This indicates that CLOU 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
| CLOU | USO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 13.10% | 15.03% | -1.93% |
Volatility (6M)Calculated over the trailing 6-month period | 24.52% | 38.18% | -13.66% |
Volatility (1Y)Calculated over the trailing 1-year period | 29.26% | 44.26% | -15.00% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 30.53% | 36.04% | -5.51% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 30.77% | 39.00% | -8.23% |
CLOU vs. USO - Expense Ratio Comparison
CLOU has a 0.68% expense ratio, which is lower than USO's 0.86% expense ratio.
Dividends
CLOU vs. USO - Dividend Comparison
Neither CLOU nor USO has paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
CLOU Global X Cloud Computing ETF | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 1.76% | 0.00% | 0.05% |
USO United States Oil Fund LP | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
CLOU and USO have a correlation of -0.11, 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 CLOU (13.10%). In terms of maximum drawdown, CLOU dropped -53.74% vs USO's -98.19%.
On 5-year performance, USO leads with 23.92% vs 0.30% for CLOU. On fees, CLOU is cheaper at 0.68% per year. On volatility, CLOU has been the lower-risk option at 13.10%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, USO has performed better with a 23.92% return vs 0.30%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
CLOU is cheaper with a 0.68% expense ratio, compared with 0.86% for USO.
CLOU and USO have nearly identical dividend yields, around 0.00%.
CLOU is categorized as Technology Equities, while USO is Oil & Gas. CLOU tracks Indxx Global Cloud Computing Index, while USO tracks Front Month Light Sweet Crude Oil. They also come from different issuers: Global X and USCF. Their fees differ too: 0.68% for CLOU and 0.86% for USO.
USO currently has the higher Sharpe Ratio (2.22 vs 0.40), 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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