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CSB vs. USO
Performance
Return for Risk
Drawdowns
Volatility
Dividends

CSB vs. USO

Last updated Jun 4, 2026

CSB (VictoryShares US Small Cap High Dividend Volatility Wtd ETF) and USO (United States Oil Fund LP) are both exchange-traded funds - CSB is a Small Cap Blend Equities fund tracking the Nasdaq Victory U.S. Small Cap High Dividend 100 Volatility Weighted Index, while USO is a Oil & Gas fund tracking the Front Month Light Sweet Crude Oil. Both are passively managed. Over the past 10 years, CSB returned 9.58%/yr vs 4.07%/yr for USO. At a 0.21 correlation, their price movements are largely independent. CSB charges 0.35%/yr vs 0.86%/yr for USO.

Performance

CSB vs. USO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in VictoryShares US Small Cap High Dividend Volatility Wtd ETF (CSB) 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, CSB achieves a 8.30% return, which is significantly lower than USO's 103.67% return. Over the past 10 years, CSB has outperformed USO with an annualized return of 9.58%, while USO has yielded a comparatively lower 4.07% annualized return.

CSB

1D
-1.09%
1M
-1.58%
YTD
8.30%
6M
7.74%
1Y
17.95%
3Y*
11.48%
5Y*
3.65%
10Y*
9.58%

USO

1D
2.62%
1M
-4.57%
YTD
103.67%
6M
99.35%
1Y
101.55%
3Y*
29.98%
5Y*
24.41%
10Y*
4.07%
*Multi-year figures are annualized to reflect compound growth (CAGR)

CSB vs. USO - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
CSB
VictoryShares US Small Cap High Dividend Volatility Wtd ETF		8.30%2.26%9.64%12.60%-13.11%27.04%11.30%21.12%-7.10%11.32%
USO
United States Oil Fund LP		103.67%-8.46%13.35%-4.94%28.97%64.68%-67.79%32.61%-19.57%2.47%

Correlation

The correlation between CSB and USO is -0.15, 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

-0.15

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

0.04

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

0.14

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

0.20

Correlation (All Time)
Calculated using the full available price history since Jul 9, 2015

0.21

The correlation between CSB and USO shifts across timeframes, from -0.15 (1 year) to 0.21 (all time), reflecting how their relationship changes across market environments.

Compare stocks, funds, or ETFs

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VictoryShares US Small Cap High Dividend Volatility Wtd ETF

United States Oil Fund LP

Often compared with CSB:
CSB vs. VBCSB vs. FLQSCSB vs. AVUVCSB vs. SCHDCSB vs. SCHACSB vs. XSVMCSB vs. SDY
Often compared with USO:
USO vs. XLEUSO vs. BNOUSO vs. UCOUSO vs. USLUSO vs. OILKUSO vs. DBOUSO vs. WTI

Return for Risk

CSB vs. USO — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
CSB
CSB Risk / Return Rank: 4040
Overall Rank
CSB Sharpe Ratio Rank: 3535
Sharpe Ratio Rank
CSB Sortino Ratio Rank: 3636
Sortino Ratio Rank
CSB Omega Ratio Rank: 3333
Omega Ratio Rank
CSB Calmar Ratio Rank: 5151
Calmar Ratio Rank
CSB Martin Ratio Rank: 4444
Martin Ratio Rank
USO
USO Risk / Return Rank: 6666
Overall Rank
USO Sharpe Ratio Rank: 6969
Sharpe Ratio Rank
USO Sortino Ratio Rank: 6060
Sortino Ratio Rank
USO Omega Ratio Rank: 6161
Omega Ratio Rank
USO Calmar Ratio Rank: 8787
Calmar Ratio Rank
USO Martin Ratio Rank: 5454
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.

CSB vs. USO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for VictoryShares US Small Cap High Dividend Volatility Wtd ETF (CSB) 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.

CSBUSODifference
Sharpe ratioReturn per unit of total volatility
1.25
2.31

-1.06

Sortino ratioReturn per unit of downside risk
1.92
2.89

-0.97

Omega ratioGain probability vs. loss probability

1.22

1.38

-0.16

Calmar ratioReturn relative to maximum drawdown

2.51

5.01

-2.50

Martin ratioReturn relative to average drawdown

7.26

9.42

-2.16

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

CSB vs. USO - Sharpe Ratio Comparison

The current CSB Sharpe Ratio is 1.25, which is lower than the USO Sharpe Ratio of 2.31. The chart below compares the historical Sharpe Ratios of CSB 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

CSBUSODifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

1.25

2.31

-1.06

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.20

0.68

-0.49

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.45

0.10

+0.35

Sharpe Ratio (All Time)

Calculated using the full available price history

0.45

-0.18

+0.62

Drawdowns

CSB vs. USO - Drawdown Comparison

The maximum CSB drawdown since its inception was -42.07%, smaller than the maximum USO drawdown of -98.19%. Use the drawdown chart below to compare losses from any high point for CSB and USO.

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Drawdown Indicators

CSBUSODifference

Max Drawdown

Largest peak-to-trough decline

-42.07%

-98.19%

+56.12%

Max Drawdown (1Y)

Largest decline over 1 year

-7.18%

-20.39%

+13.21%

Max Drawdown (3Y)

Largest decline over 3 years

-21.82%

-26.05%

+4.23%

Max Drawdown (5Y)

Largest decline over 5 years

-24.49%

-36.23%

+11.74%

Max Drawdown (10Y)

Largest decline over 10 years

-42.07%

-86.75%

+44.68%

Current Drawdown

Current decline from peak

-3.12%

-85.01%

+81.89%

Average Drawdown

Average peak-to-trough decline

-7.14%

-75.30%

+68.16%

Ulcer Index

Depth and duration of drawdowns from previous peaks

2.48%

10.82%

-8.34%

Volatility

CSB vs. USO - Volatility Comparison

The current volatility for VictoryShares US Small Cap High Dividend Volatility Wtd ETF (CSB) is 3.59%, while United States Oil Fund LP (USO) has a volatility of 14.87%. This indicates that CSB 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

CSBUSODifference

Volatility (1M)

Calculated over the trailing 1-month period

3.59%

14.87%

-11.28%

Volatility (6M)

Calculated over the trailing 6-month period

9.19%

38.23%

-29.04%

Volatility (1Y)

Calculated over the trailing 1-year period

14.54%

44.20%

-29.66%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

18.78%

36.06%

-17.28%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

21.31%

39.00%

-17.69%

CSB vs. USO - Expense Ratio Comparison

CSB has a 0.35% expense ratio, which is lower than USO's 0.86% expense ratio.

Dividends

CSB vs. USO - Dividend Comparison

CSB's dividend yield for the trailing twelve months is around 3.26%, while USO has not paid dividends to shareholders.

PositionTTM20252024202320222021202020192018201720162015
CSB
VictoryShares US Small Cap High Dividend Volatility Wtd ETF		3.26%3.54%3.12%3.45%3.60%3.11%3.70%3.19%3.45%3.19%2.85%1.57%
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

CSB and USO have a correlation of -0.15, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

USO has higher volatility (14.87%) compared to CSB (3.59%). In terms of maximum drawdown, CSB dropped -42.07% vs USO's -98.19%.

On 10-year performance, CSB leads with 9.58% vs 4.07% for USO. On fees, CSB is cheaper at 0.35% per year. On volatility, CSB has been the lower-risk option at 3.59%. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 10-year period, CSB has performed better with a 9.58% return vs 4.07%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

CSB is cheaper with a 0.35% expense ratio, compared with 0.86% for USO.

CSB has the higher dividend yield at 3.26%, compared with 0.00% for USO.

CSB is categorized as Small Cap Blend Equities, while USO is Oil & Gas. CSB tracks Nasdaq Victory U.S. Small Cap High Dividend 100 Volatility Weighted Index, while USO tracks Front Month Light Sweet Crude Oil. They also come from different issuers: Crestview and USCF. Their fees differ too: 0.35% for CSB and 0.86% for USO.

USO currently has the higher Sharpe Ratio (2.31 vs 1.25), 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.

Portfolio Optimizer

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