CTWO vs. USE

Last updated Jun 5, 2026

CTWO (COtwo Advisors Physical European Carbon Allowance Trust) and USE (USCF Energy Commodity Strategy Absolute Return Fund) are both Commodities funds. At a correlation of -0.06, they often move in opposite directions. Both charge a 0.79% expense ratio.

Performance

CTWO vs. USE - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in COtwo Advisors Physical European Carbon Allowance Trust (CTWO) and USCF Energy Commodity Strategy Absolute Return Fund (USE). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, CTWO achieves a -13.22% return, which is significantly lower than USE's 44.75% return.

CTWO

• 1D: 2.38%
• 1M: 2.68%
• YTD: -13.22%
• 6M: -9.58%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

USE

• 1D: -2.65%
• 1M: -3.52%
• YTD: 44.75%
• 6M: 49.10%
• 1Y: 38.24%
• 3Y*: 16.68%
• 5Y*: —
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

CTWO vs. USE - Yearly Performance Comparison

	2026 (YTD)	2025
CTWO COtwo Advisors Physical European Carbon Allowance Trust	-13.22%	15.78%
USE USCF Energy Commodity Strategy Absolute Return Fund	44.75%	-17.68%

Correlation

The correlation between CTWO and USE is -0.06, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (All Time) Calculated using the full available price history since Jun 23, 2025	-0.06

Return for Risk

CTWO vs. USE — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

USE

USE Risk / Return Rank: 31
USE Sharpe Ratio Rank: 34
USE Sortino Ratio Rank: 35
USE Omega Ratio Rank: 33
USE Calmar Ratio Rank: 30
USE Martin Ratio Rank: 23

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.

CTWO vs. USE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for COtwo Advisors Physical European Carbon Allowance Trust (CTWO) and USCF Energy Commodity Strategy Absolute Return Fund (USE). 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.

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

Sharpe Ratios by Period

	CTWO	USE	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	1.22	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.02	0.66	-0.65

Drawdowns

CTWO vs. USE - Drawdown Comparison

The maximum CTWO drawdown since its inception was -30.13%, which is greater than USE's maximum drawdown of -26.24%. Use the drawdown chart below to compare losses from any high point for CTWO and USE.

Drawdown Indicators

	CTWO	USE	Difference
Max Drawdown Largest peak-to-trough decline	-30.13%	-26.24%	-3.89%
Max Drawdown (1Y) Largest decline over 1 year	—	-26.24%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-26.24%	—
Current Drawdown Current decline from peak	-23.10%	-6.98%	-16.12%
Average Drawdown Average peak-to-trough decline	-9.25%	-7.96%	-1.29%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	13.33%	—

Volatility

Volatility by Period

	CTWO	USE	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	11.24%	—
Volatility (6M) Calculated over the trailing 6-month period	—	26.03%	—
Volatility (1Y) Calculated over the trailing 1-year period	27.98%	31.58%	-3.60%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	27.98%	27.08%	+0.90%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	27.98%	27.08%	+0.90%

CTWO vs. USE - Expense Ratio Comparison

Both CTWO and USE have an expense ratio of 0.79%.

Dividends

CTWO vs. USE - Dividend Comparison

CTWO has not paid dividends to shareholders, while USE's dividend yield for the trailing twelve months is around 2.11%.

Position	TTM	2025	2024	2023
CTWO COtwo Advisors Physical European Carbon Allowance Trust	0.00%	0.00%	0.00%	0.00%
USE USCF Energy Commodity Strategy Absolute Return Fund	2.11%	3.06%	38.65%	4.83%

Frequently Asked Questions

Can I hold both CTWO and USE in my portfolio?

CTWO and USE have a correlation of -0.06, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, CTWO or USE?

Both ETFs have the same 0.79% expense ratio. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, CTWO or USE?

CTWO and USE have the same expense ratio: 0.79% per year.

Which ETF pays a higher dividend yield, CTWO or USE?

USE has the higher dividend yield at 2.11%, compared with 0.00% for CTWO.

What is the main difference between CTWO and USE?

They also come from different issuers: COtwo Advisors and USCF.