CWS vs. USO
CWS (AdvisorShares Focused Equity ETF) and USO (United States Oil Fund LP) are both exchange-traded funds - CWS is a Large Cap Growth Equities fund actively managed by AdvisorShares, while USO is a Oil & Gas fund tracking the Front Month Light Sweet Crude Oil. CWS is actively managed, while USO is passively managed. Over the past 5 years, CWS returned 8.16%/yr vs 24.41%/yr for USO. At a 0.10 correlation, their price movements are largely independent. CWS charges 0.77%/yr vs 0.86%/yr for USO.
Performance
CWS vs. USO - Performance Comparison
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Returns By Period
In the year-to-date period, CWS achieves a -1.80% return, which is significantly lower than USO's 103.67% return.
CWS
- 1D
- -0.02%
- 1M
- -0.37%
- YTD
- -1.80%
- 6M
- -1.31%
- 1Y
- -0.99%
- 3Y*
- 10.25%
- 5Y*
- 8.16%
- 10Y*
- —
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%
CWS vs. USO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
CWS AdvisorShares Focused Equity ETF | -1.80% | 6.43% | 9.82% | 25.06% | -10.42% | 22.20% | 17.12% | 30.97% | -6.46% | 20.92% |
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 CWS and USO is -0.24, 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 | -0.24 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.09 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.03 |
Correlation (All Time) Calculated using the full available price history since Sep 22, 2016 | 0.10 |
The correlation between CWS and USO shifts across timeframes, from -0.24 (1 year) to 0.10 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
CWS vs. USO — Risk / Return Rank
CWS
USO
CWS vs. USO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for AdvisorShares Focused Equity ETF (CWS) 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.
| CWS | USO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.39 | ||
| Sortino ratioReturn per unit of downside risk | -2.90 | ||
| Omega ratioGain probability vs. loss probability | 1.00 | 1.38 | -0.38 |
| Calmar ratioReturn relative to maximum drawdown | -0.08 | 5.01 | -5.09 |
| Martin ratioReturn relative to average drawdown | -0.22 | 9.42 | -9.63 |
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
| CWS | USO | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -0.08 | 2.31 | -2.39 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.52 | 0.68 | -0.16 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.10 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.67 | -0.18 | +0.84 |
Drawdowns
CWS vs. USO - Drawdown Comparison
The maximum CWS drawdown since its inception was -33.82%, smaller than the maximum USO drawdown of -98.19%. Use the drawdown chart below to compare losses from any high point for CWS and USO.
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Drawdown Indicators
| CWS | USO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -33.82% | -98.19% | +64.37% |
Max Drawdown (1Y)Largest decline over 1 year | -11.92% | -20.39% | +8.47% |
Max Drawdown (3Y)Largest decline over 3 years | -16.56% | -26.05% | +9.49% |
Max Drawdown (5Y)Largest decline over 5 years | -24.87% | -36.23% | +11.36% |
Max Drawdown (10Y)Largest decline over 10 years | — | -86.75% | — |
Current DrawdownCurrent decline from peak | -6.21% | -85.01% | +78.80% |
Average DrawdownAverage peak-to-trough decline | -4.54% | -75.30% | +70.76% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.61% | 10.82% | -6.21% |
Volatility
CWS vs. USO - Volatility Comparison
The current volatility for AdvisorShares Focused Equity ETF (CWS) is 3.27%, while United States Oil Fund LP (USO) has a volatility of 14.87%. This indicates that CWS 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
| CWS | USO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.27% | 14.87% | -11.60% |
Volatility (6M)Calculated over the trailing 6-month period | 10.29% | 38.23% | -27.94% |
Volatility (1Y)Calculated over the trailing 1-year period | 13.28% | 44.20% | -30.92% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 15.66% | 36.06% | -20.40% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.91% | 39.00% | -22.09% |
CWS vs. USO - Expense Ratio Comparison
CWS has a 0.77% expense ratio, which is lower than USO's 0.86% expense ratio.
Dividends
CWS vs. USO - Dividend Comparison
CWS's dividend yield for the trailing twelve months is around 0.31%, while USO has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
CWS AdvisorShares Focused Equity ETF | 0.31% | 0.31% | 0.59% | 0.25% | 0.50% | 0.16% | 0.27% | 0.39% | 2.07% | 0.29% | 0.03% |
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% |
Frequently Asked Questions
CWS and USO have a correlation of -0.24, 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 CWS (3.27%). In terms of maximum drawdown, CWS dropped -33.82% vs USO's -98.19%.
On 5-year performance, USO leads with 24.41% vs 8.16% for CWS. On fees, CWS is cheaper at 0.77% per year. On volatility, CWS has been the lower-risk option at 3.27%. 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 24.41% return vs 8.16%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
CWS is cheaper with a 0.77% expense ratio, compared with 0.86% for USO.
CWS has the higher dividend yield at 0.31%, compared with 0.00% for USO.
CWS is categorized as Large Cap Growth Equities, while USO is Oil & Gas. They also come from different issuers: AdvisorShares and USCF. Their fees differ too: 0.77% for CWS and 0.86% for USO.
USO currently has the higher Sharpe Ratio (2.31 vs -0.07), 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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