COM vs. USO
COM (Direxion Auspice Broad Commodity Strategy ETF) and USO (United States Oil Fund LP) are both exchange-traded funds - COM is a Commodities fund tracking the Auspice Broad Commodity ER 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, COM returned 7.89%/yr vs 17.42%/yr for USO. At a 0.47 correlation, their price movements are largely independent. COM charges 0.70%/yr vs 0.86%/yr for USO.
Performance
COM vs. USO - Performance Comparison
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Returns By Period
In the year-to-date period, COM achieves a 11.12% return, which is significantly lower than USO's 60.87% return.
COM
- 1D
- -1.21%
- 1M
- -5.08%
- YTD
- 11.12%
- 6M
- 10.20%
- 1Y
- 18.87%
- 3Y*
- 6.27%
- 5Y*
- 7.89%
- 10Y*
- —
USO
- 1D
- -1.27%
- 1M
- -21.05%
- YTD
- 60.87%
- 6M
- 58.26%
- 1Y
- 45.61%
- 3Y*
- 21.25%
- 5Y*
- 17.42%
- 10Y*
- 2.01%
COM vs. USO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
COM Direxion Auspice Broad Commodity Strategy ETF | 11.12% | 7.72% | 5.81% | -2.09% | 9.17% | 28.00% | 6.63% | -0.18% | -0.03% | -1.97% |
USO United States Oil Fund LP | 60.87% | -8.46% | 13.35% | -4.94% | 28.97% | 64.68% | -67.79% | 32.61% | -19.57% | 15.81% |
Correlation
The correlation between COM and USO is 0.54, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.54 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.52 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.54 |
Correlation (All Time) Calculated using the full available price history since Mar 30, 2017 | 0.47 |
The correlation between COM and USO has been stable across timeframes, ranging from 0.47 to 0.54 - a consistent structural relationship.
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Return for Risk
COM vs. USO — Risk / Return Rank
COM
USO
COM vs. USO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Direxion Auspice Broad Commodity Strategy ETF (COM) 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.
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.
| COM | USO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.75 | ||
| Sortino ratioReturn per unit of downside risk | +0.76 | ||
| Omega ratioGain probability vs. loss probability | 1.34 | 1.21 | +0.13 |
| Calmar ratioReturn relative to maximum drawdown | 2.45 | 1.68 | +0.77 |
| Martin ratioReturn relative to average drawdown | 8.97 | 4.57 | +4.39 |
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Drawdowns
COM vs. USO - Drawdown Comparison
The maximum COM drawdown since its inception was -15.95%, smaller than the maximum USO drawdown of -98.19%. Use the drawdown chart below to compare losses from any high point for COM and USO.
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Drawdown Indicators
| COM | USO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -15.95% | -98.19% | +82.24% |
Max Drawdown (1Y)Largest decline over 1 year | -7.74% | -27.26% | +19.52% |
Max Drawdown (3Y)Largest decline over 3 years | -8.50% | -27.26% | +18.76% |
Max Drawdown (5Y)Largest decline over 5 years | -14.02% | -36.23% | +22.21% |
Max Drawdown (10Y)Largest decline over 10 years | — | -86.75% | — |
Current DrawdownCurrent decline from peak | -7.74% | -88.16% | +80.42% |
Average DrawdownAverage peak-to-trough decline | -6.28% | -75.31% | +69.03% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.12% | 10.02% | -7.90% |
Volatility
COM vs. USO - Volatility Comparison
The current volatility for Direxion Auspice Broad Commodity Strategy ETF (COM) is 2.26%, while United States Oil Fund LP (USO) has a volatility of 11.79%. This indicates that COM 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
| COM | USO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.26% | 11.79% | -9.53% |
Volatility (6M)Calculated over the trailing 6-month period | 8.61% | 39.34% | -30.73% |
Volatility (1Y)Calculated over the trailing 1-year period | 10.59% | 44.35% | -33.76% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 9.55% | 36.32% | -26.77% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 9.77% | 39.02% | -29.25% |
COM vs. USO - Expense Ratio Comparison
COM has a 0.70% expense ratio, which is lower than USO's 0.86% expense ratio.
Dividends
COM vs. USO - Dividend Comparison
COM's dividend yield for the trailing twelve months is around 2.55%, while USO has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
COM Direxion Auspice Broad Commodity Strategy ETF | 2.55% | 2.99% | 3.88% | 3.80% | 8.59% | 10.32% | 0.13% | 1.09% | 2.36% | 0.09% |
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% |
Frequently Asked Questions
COM and USO have a correlation of 0.54, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
USO has higher volatility (11.79%) compared to COM (2.26%). In terms of maximum drawdown, COM dropped -15.95% vs USO's -98.19%.
On 5-year performance, USO leads with 17.42% vs 7.89% for COM. On fees, COM is cheaper at 0.70% per year. On volatility, COM has been the lower-risk option at 2.26%. 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 17.42% return vs 7.89%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
COM is cheaper with a 0.70% expense ratio, compared with 0.86% for USO.
COM has the higher dividend yield at 2.55%, compared with 0.00% for USO.
COM is categorized as Commodities, while USO is Oil & Gas. COM tracks Auspice Broad Commodity ER Index, while USO tracks Front Month Light Sweet Crude Oil. They also come from different issuers: Direxion and USCF. Their fees differ too: 0.70% for COM and 0.86% for USO.
COM currently has the higher Sharpe Ratio (1.81 vs 1.05), 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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