DMAR vs. USO
DMAR (FT Cboe Vest U.S. Equity Deep Buffer ETF - March) and USO (United States Oil Fund LP) are both exchange-traded funds - DMAR is a Options Trading fund actively managed by FT Vest, while USO is a Oil & Gas fund tracking the Front Month Light Sweet Crude Oil. DMAR is actively managed, while USO is passively managed. Over the past 5 years, DMAR returned 7.74%/yr vs 24.41%/yr for USO. At a 0.05 correlation, their price movements are largely independent. DMAR charges 0.85%/yr vs 0.86%/yr for USO.
Performance
DMAR vs. USO - Performance Comparison
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Returns By Period
In the year-to-date period, DMAR achieves a 7.21% return, which is significantly lower than USO's 103.67% return.
DMAR
- 1D
- -0.10%
- 1M
- 1.43%
- YTD
- 7.21%
- 6M
- 8.16%
- 1Y
- 14.75%
- 3Y*
- 12.11%
- 5Y*
- 7.74%
- 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%
DMAR vs. USO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
DMAR FT Cboe Vest U.S. Equity Deep Buffer ETF - March | 7.21% | 9.13% | 12.74% | 12.25% | -5.48% | 7.04% |
USO United States Oil Fund LP | 103.67% | -8.46% | 13.35% | -4.94% | 28.97% | 30.33% |
Correlation
The correlation between DMAR and USO is -0.31, 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 | -0.31 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.07 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.06 |
Correlation (All Time) Calculated using the full available price history since Mar 23, 2021 | 0.05 |
The correlation between DMAR and USO shifts across timeframes, from -0.31 (1 year) to 0.06 (5 years), reflecting how their relationship changes across market environments.
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Return for Risk
DMAR vs. USO — Risk / Return Rank
DMAR
USO
DMAR vs. USO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for FT Cboe Vest U.S. Equity Deep Buffer ETF - March (DMAR) 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.
| DMAR | USO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.76 | ||
| Sortino ratioReturn per unit of downside risk | +4.11 | ||
| Omega ratioGain probability vs. loss probability | 2.04 | 1.38 | +0.65 |
| Calmar ratioReturn relative to maximum drawdown | 9.68 | 5.01 | +4.67 |
| Martin ratioReturn relative to average drawdown | 62.37 | 9.42 | +52.95 |
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
| DMAR | USO | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 4.07 | 2.31 | +1.76 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 1.11 | 0.68 | +0.42 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.10 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 1.17 | -0.18 | +1.34 |
Drawdowns
DMAR vs. USO - Drawdown Comparison
The maximum DMAR drawdown since its inception was -9.84%, smaller than the maximum USO drawdown of -98.19%. Use the drawdown chart below to compare losses from any high point for DMAR and USO.
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Drawdown Indicators
| DMAR | USO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -9.84% | -98.19% | +88.35% |
Max Drawdown (1Y)Largest decline over 1 year | -1.53% | -20.39% | +18.86% |
Max Drawdown (3Y)Largest decline over 3 years | -9.16% | -26.05% | +16.89% |
Max Drawdown (5Y)Largest decline over 5 years | -9.84% | -36.23% | +26.39% |
Max Drawdown (10Y)Largest decline over 10 years | — | -86.75% | — |
Current DrawdownCurrent decline from peak | -0.13% | -85.01% | +84.88% |
Average DrawdownAverage peak-to-trough decline | -1.85% | -75.30% | +73.45% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.24% | 10.82% | -10.58% |
Volatility
DMAR vs. USO - Volatility Comparison
The current volatility for FT Cboe Vest U.S. Equity Deep Buffer ETF - March (DMAR) is 0.67%, while United States Oil Fund LP (USO) has a volatility of 14.87%. This indicates that DMAR 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
| DMAR | USO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.67% | 14.87% | -14.20% |
Volatility (6M)Calculated over the trailing 6-month period | 2.74% | 38.23% | -35.49% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.64% | 44.20% | -40.56% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 7.04% | 36.06% | -29.02% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 6.97% | 39.00% | -32.03% |
DMAR vs. USO - Expense Ratio Comparison
DMAR has a 0.85% expense ratio, which is lower than USO's 0.86% expense ratio.
Dividends
DMAR vs. USO - Dividend Comparison
Neither DMAR nor USO has paid dividends to shareholders.
Frequently Asked Questions
DMAR and USO have a correlation of -0.31, 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 DMAR (0.67%). In terms of maximum drawdown, DMAR dropped -9.84% vs USO's -98.19%.
On 5-year performance, USO leads with 24.41% vs 7.74% for DMAR. On fees, DMAR is cheaper at 0.85% per year. On volatility, DMAR has been the lower-risk option at 0.67%. 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 7.74%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
DMAR is cheaper with a 0.85% expense ratio, compared with 0.86% for USO.
DMAR and USO have nearly identical dividend yields, around 0.00%.
DMAR is categorized as Options Trading, while USO is Oil & Gas. They also come from different issuers: FT Vest and USCF. Their fees differ too: 0.85% for DMAR and 0.86% for USO.
DMAR currently has the higher Sharpe Ratio (4.07 vs 2.31), 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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