DRUP vs. USL

Last updated Jun 3, 2026

DRUP (GraniteShares Nasdaq Select Disruptors ETF) and USL (United States 12 Month Oil Fund LP) are both exchange-traded funds - DRUP is a Large Cap Growth Equities fund tracking the Nasdaq US Large Cap Select Disruptors Index - Benchmark TR Gross, while USL is a Oil & Gas fund tracking the 12 Month Light Sweet Crude Oil. Both are passively managed. Over the past 5 years, DRUP returned 11.71%/yr vs 17.18%/yr for USL. At a 0.12 correlation, their price movements are largely independent. DRUP charges 0.60%/yr vs 0.88%/yr for USL.

Performance

DRUP vs. USL - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in GraniteShares Nasdaq Select Disruptors ETF (DRUP) and United States 12 Month Oil Fund LP (USL). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, DRUP achieves a -1.00% return, which is significantly lower than USL's 60.58% return.

DRUP

• 1D: -2.41%
• 1M: 12.68%
• YTD: -1.00%
• 6M: -2.39%
• 1Y: 11.88%
• 3Y*: 19.79%
• 5Y*: 11.71%
• 10Y*: —

USL

• 1D: 1.21%
• 1M: 0.73%
• YTD: 60.58%
• 6M: 58.21%
• 1Y: 56.66%
• 3Y*: 17.81%
• 5Y*: 17.18%
• 10Y*: 10.74%

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

DRUP vs. USL - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
DRUP GraniteShares Nasdaq Select Disruptors ETF	-1.00%	18.18%	23.11%	42.32%	-28.18%	26.13%	28.71%	11.32%
USL United States 12 Month Oil Fund LP	60.58%	-12.37%	8.30%	-1.11%	27.10%	62.48%	-25.23%	15.09%

Correlation

The correlation between DRUP and USL is -0.18, 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	-0.18
Correlation (3Y) Calculated over the trailing 3-year period	-0.03
Correlation (5Y) Calculated over the trailing 5-year period	0.06
Correlation (All Time) Calculated using the full available price history since Oct 8, 2019	0.12

The correlation between DRUP and USL shifts across timeframes, from -0.18 (1 year) to 0.12 (all time), reflecting how their relationship changes across market environments.

DRUP vs. USL - Sectors Allocation Comparison

Sectors	DRUP	USL
Technology	55.8%	-
Healthcare	20.8%	-
Communication Services	19.8%	-
Consumer Cyclical	1.3%	-
Financial Services	1.2%	4.5%
Industrials	1.1%	-
Basic Materials	-	-
Consumer Defensive	-	-
Energy	-	-
Real Estate	-	-
Utilities	-	-

Return for Risk

DRUP vs. USL — Risk / Return Rank

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

DRUP

DRUP Risk / Return Rank: 17
DRUP Sharpe Ratio Rank: 19
DRUP Sortino Ratio Rank: 18
DRUP Omega Ratio Rank: 19
DRUP Calmar Ratio Rank: 15
DRUP Martin Ratio Rank: 15

USL

USL Risk / Return Rank: 56
USL Sharpe Ratio Rank: 58
USL Sortino Ratio Rank: 52
USL Omega Ratio Rank: 53
USL Calmar Ratio Rank: 72
USL Martin Ratio Rank: 45

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.

DRUP vs. USL - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for GraniteShares Nasdaq Select Disruptors ETF (DRUP) and United States 12 Month Oil Fund LP (USL). 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.

	DRUP	USL	Difference
Sharpe ratio Return per unit of total volatility	0.61	2.00	-1.38
Sortino ratio Return per unit of downside risk	0.95	2.54	-1.59
Omega ratio Gain probability vs. loss probability	1.12	1.33	-0.21
Calmar ratio Return relative to maximum drawdown	0.54	3.67	-3.12
Martin ratio Return relative to average drawdown	1.37	7.44	-6.07
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

DRUP vs. USL - Sharpe Ratio Comparison

The current DRUP Sharpe Ratio is 0.61, which is lower than the USL Sharpe Ratio of 2.00. The chart below compares the historical Sharpe Ratios of DRUP and USL, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	DRUP	USL	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.61	2.00	-1.38
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.54	0.57	-0.03
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.33	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.69	0.01	+0.68

Drawdowns

DRUP vs. USL - Drawdown Comparison

The maximum DRUP drawdown since its inception was -31.29%, smaller than the maximum USL drawdown of -89.06%. Use the drawdown chart below to compare losses from any high point for DRUP and USL.

Drawdown Indicators

	DRUP	USL	Difference
Max Drawdown Largest peak-to-trough decline	-31.29%	-89.06%	+57.77%
Max Drawdown (1Y) Largest decline over 1 year	-23.21%	-16.76%	-6.45%
Max Drawdown (3Y) Largest decline over 3 years	-23.77%	-23.33%	-0.44%
Max Drawdown (5Y) Largest decline over 5 years	-31.29%	-33.82%	+2.53%
Max Drawdown (10Y) Largest decline over 10 years	—	-66.02%	—
Current Drawdown Current decline from peak	-3.91%	-39.10%	+35.19%
Average Drawdown Average peak-to-trough decline	-8.42%	-61.46%	+53.04%
Ulcer Index Depth and duration of drawdowns from previous peaks	9.25%	8.26%	+0.99%

Volatility

DRUP vs. USL - Volatility Comparison

The current volatility for GraniteShares Nasdaq Select Disruptors ETF (DRUP) is 6.91%, while United States 12 Month Oil Fund LP (USL) has a volatility of 11.15%. This indicates that DRUP experiences smaller price fluctuations and is considered to be less risky than USL based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	DRUP	USL	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.91%	11.15%	-4.24%
Volatility (6M) Calculated over the trailing 6-month period	16.03%	23.30%	-7.27%
Volatility (1Y) Calculated over the trailing 1-year period	19.42%	28.65%	-9.23%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	21.76%	30.07%	-8.31%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	23.22%	32.35%	-9.13%

DRUP vs. USL - Expense Ratio Comparison

DRUP has a 0.60% expense ratio, which is lower than USL's 0.88% expense ratio.

Dividends

DRUP vs. USL - Dividend Comparison

Neither DRUP nor USL has paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019
DRUP GraniteShares Nasdaq Select Disruptors ETF	0.00%	0.00%	0.00%	0.40%	0.51%	0.28%	0.53%	0.19%
USL United States 12 Month Oil Fund LP	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both DRUP and USL in my portfolio?

DRUP and USL have a correlation of -0.18, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, DRUP or USL?

USL has higher volatility (11.15%) compared to DRUP (6.91%). In terms of maximum drawdown, DRUP dropped -31.29% vs USL's -89.06%.

Which ETF is better, DRUP or USL?

On 5-year performance, USL leads with 17.18% vs 11.71% for DRUP. On fees, DRUP is cheaper at 0.60% per year. On volatility, DRUP has been the lower-risk option at 6.91%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, DRUP or USL?

Over the 5-year period, USL has performed better with a 17.18% return vs 11.71%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, DRUP or USL?

DRUP is cheaper with a 0.60% expense ratio, compared with 0.88% for USL.

Which ETF pays a higher dividend yield, DRUP or USL?

DRUP and USL have nearly identical dividend yields, around 0.00%.

What is the main difference between DRUP and USL?

DRUP is categorized as Large Cap Growth Equities, while USL is Oil & Gas. DRUP tracks Nasdaq US Large Cap Select Disruptors Index - Benchmark TR Gross, while USL tracks 12 Month Light Sweet Crude Oil. They also come from different issuers: GraniteShares and Concierge Technologies. Their fees differ too: 0.60% for DRUP and 0.88% for USL.

Which has better risk-adjusted returns?

USL currently has the higher Sharpe Ratio (2.00 vs 0.61), 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.