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DBEF vs. USO
Performance
Return for Risk
Drawdowns
Volatility
Dividends

DBEF vs. USO

Last updated Jun 4, 2026

DBEF (Xtrackers MSCI EAFE Hedged Equity ETF) and USO (United States Oil Fund LP) are both exchange-traded funds - DBEF is a Hedge Fund fund tracking the MSCI EAFE US Dollar Hedged 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, DBEF returned 12.12%/yr vs 4.07%/yr for USO. At a 0.22 correlation, their price movements are largely independent. DBEF charges 0.36%/yr vs 0.86%/yr for USO.

Performance

DBEF vs. USO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Xtrackers MSCI EAFE Hedged Equity ETF (DBEF) 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, DBEF achieves a 10.25% return, which is significantly lower than USO's 103.67% return. Over the past 10 years, DBEF has outperformed USO with an annualized return of 12.12%, while USO has yielded a comparatively lower 4.07% annualized return.

DBEF

1D
-0.47%
1M
4.76%
YTD
10.25%
6M
12.54%
1Y
24.51%
3Y*
17.72%
5Y*
13.11%
10Y*
12.12%

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)

DBEF vs. USO - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
DBEF
Xtrackers MSCI EAFE Hedged Equity ETF		10.25%23.16%13.40%20.15%-5.13%19.60%2.03%24.94%-9.52%16.74%
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 DBEF and USO is -0.34, 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

-0.34

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

-0.07

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

0.07

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

0.19

Correlation (All Time)
Calculated using the full available price history since Jun 10, 2011

0.22

The correlation between DBEF and USO shifts across timeframes, from -0.34 (1 year) to 0.22 (all time), reflecting how their relationship changes across market environments.

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

Xtrackers MSCI EAFE Hedged Equity ETF

United States Oil Fund LP

Often compared with DBEF:
DBEF vs. HEFADBEF vs. VXUSDBEF vs. DBEUDBEF vs. IHDGDBEF vs. SCHDDBEF vs. VOODBEF vs. PWJZX
Often compared with USO:
USO vs. XLEUSO vs. BNOUSO vs. UCOUSO vs. USLUSO vs. OILKUSO vs. DBOUSO vs. WTI

Return for Risk

DBEF vs. USO — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
DBEF
DBEF Risk / Return Rank: 5757
Overall Rank
DBEF Sharpe Ratio Rank: 5757
Sharpe Ratio Rank
DBEF Sortino Ratio Rank: 5858
Sortino Ratio Rank
DBEF Omega Ratio Rank: 5959
Omega Ratio Rank
DBEF Calmar Ratio Rank: 5252
Calmar Ratio Rank
DBEF Martin Ratio Rank: 6060
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.

DBEF vs. USO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Xtrackers MSCI EAFE Hedged Equity ETF (DBEF) 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.

DBEFUSODifference
Sharpe ratioReturn per unit of total volatility
1.99
2.31

-0.32

Sortino ratioReturn per unit of downside risk
2.80
2.89

-0.09

Omega ratioGain probability vs. loss probability

1.37

1.38

-0.02

Calmar ratioReturn relative to maximum drawdown

2.62

5.01

-2.39

Martin ratioReturn relative to average drawdown

11.01

9.42

+1.59

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

DBEF vs. USO - Sharpe Ratio Comparison

The current DBEF Sharpe Ratio is 1.99, which is comparable to the USO Sharpe Ratio of 2.31. The chart below compares the historical Sharpe Ratios of DBEF 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

DBEFUSODifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

1.99

2.31

-0.32

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.96

0.68

+0.28

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.77

0.10

+0.67

Sharpe Ratio (All Time)

Calculated using the full available price history

0.55

-0.18

+0.73

Drawdowns

DBEF vs. USO - Drawdown Comparison

The maximum DBEF drawdown since its inception was -32.46%, smaller than the maximum USO drawdown of -98.19%. Use the drawdown chart below to compare losses from any high point for DBEF and USO.

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Drawdown Indicators

DBEFUSODifference

Max Drawdown

Largest peak-to-trough decline

-32.46%

-98.19%

+65.73%

Max Drawdown (1Y)

Largest decline over 1 year

-9.41%

-20.39%

+10.98%

Max Drawdown (3Y)

Largest decline over 3 years

-14.62%

-26.05%

+11.43%

Max Drawdown (5Y)

Largest decline over 5 years

-14.95%

-36.23%

+21.28%

Max Drawdown (10Y)

Largest decline over 10 years

-32.46%

-86.75%

+54.29%

Current Drawdown

Current decline from peak

-0.47%

-85.01%

+84.54%

Average Drawdown

Average peak-to-trough decline

-4.74%

-75.30%

+70.56%

Ulcer Index

Depth and duration of drawdowns from previous peaks

2.23%

10.82%

-8.59%

Volatility

DBEF vs. USO - Volatility Comparison

The current volatility for Xtrackers MSCI EAFE Hedged Equity ETF (DBEF) is 3.99%, while United States Oil Fund LP (USO) has a volatility of 14.87%. This indicates that DBEF 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

DBEFUSODifference

Volatility (1M)

Calculated over the trailing 1-month period

3.99%

14.87%

-10.88%

Volatility (6M)

Calculated over the trailing 6-month period

10.14%

38.23%

-28.09%

Volatility (1Y)

Calculated over the trailing 1-year period

12.37%

44.20%

-31.83%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

13.74%

36.06%

-22.32%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

15.79%

39.00%

-23.21%

DBEF vs. USO - Expense Ratio Comparison

DBEF has a 0.36% expense ratio, which is lower than USO's 0.86% expense ratio.

Dividends

DBEF vs. USO - Dividend Comparison

DBEF's dividend yield for the trailing twelve months is around 5.03%, while USO has not paid dividends to shareholders.

PositionTTM20252024202320222021202020192018201720162015
DBEF
Xtrackers MSCI EAFE Hedged Equity ETF		5.03%5.55%1.29%4.46%15.85%2.28%2.41%3.03%3.22%2.98%2.55%3.70%
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

DBEF and USO have a correlation of -0.34, 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 DBEF (3.99%). In terms of maximum drawdown, DBEF dropped -32.46% vs USO's -98.19%.

On 10-year performance, DBEF leads with 12.12% vs 4.07% for USO. On fees, DBEF is cheaper at 0.36% per year. On volatility, DBEF has been the lower-risk option at 3.99%. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 10-year period, DBEF has performed better with a 12.12% return vs 4.07%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

DBEF is cheaper with a 0.36% expense ratio, compared with 0.86% for USO.

DBEF has the higher dividend yield at 5.03%, compared with 0.00% for USO.

DBEF is categorized as Hedge Fund, while USO is Oil & Gas. DBEF tracks MSCI EAFE US Dollar Hedged Index, while USO tracks Front Month Light Sweet Crude Oil. They also come from different issuers: DWS and USCF. Their fees differ too: 0.36% for DBEF and 0.86% for USO.

USO currently has the higher Sharpe Ratio (2.31 vs 1.99), 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

Find the right allocation for DBEF and USO

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