DSMC vs. USO
DSMC (Distillate Small/Mid Cash Flow ETF) and USO (United States Oil Fund LP) are both exchange-traded funds - DSMC is a Small Cap Value Equities fund actively managed by Distillate, while USO is a Oil & Gas fund tracking the Front Month Light Sweet Crude Oil. DSMC is actively managed, while USO is passively managed. Over the past 3 years, DSMC returned 13.36%/yr vs 29.98%/yr for USO. At a 0.17 correlation, their price movements are largely independent. DSMC charges 0.55%/yr vs 0.86%/yr for USO.
Performance
DSMC vs. USO - Performance Comparison
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Returns By Period
In the year-to-date period, DSMC achieves a 12.84% return, which is significantly lower than USO's 103.67% return.
DSMC
- 1D
- -1.10%
- 1M
- 1.55%
- YTD
- 12.84%
- 6M
- 12.14%
- 1Y
- 27.29%
- 3Y*
- 13.36%
- 5Y*
- —
- 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%
DSMC vs. USO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
DSMC Distillate Small/Mid Cash Flow ETF | 12.84% | 2.73% | 2.81% | 29.50% | 8.68% |
USO United States Oil Fund LP | 103.67% | -8.46% | 13.35% | -4.94% | -3.95% |
Correlation
The correlation between DSMC and USO is -0.09, 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 (1Y) Calculated over the trailing 1-year period | -0.09 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.12 |
Correlation (All Time) Calculated using the full available price history since Oct 7, 2022 | 0.17 |
The correlation between DSMC and USO shifts across timeframes, from -0.09 (1 year) to 0.17 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
DSMC vs. USO — Risk / Return Rank
DSMC
USO
DSMC vs. USO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Distillate Small/Mid Cash Flow ETF (DSMC) 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.
| DSMC | USO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.72 | ||
| Sortino ratioReturn per unit of downside risk | -0.48 | ||
| Omega ratioGain probability vs. loss probability | 1.28 | 1.38 | -0.10 |
| Calmar ratioReturn relative to maximum drawdown | 2.65 | 5.01 | -2.35 |
| Martin ratioReturn relative to average drawdown | 8.82 | 9.42 | -0.60 |
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
| DSMC | USO | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.59 | 2.31 | -0.72 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | 0.68 | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.10 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.75 | -0.18 | +0.93 |
Drawdowns
DSMC vs. USO - Drawdown Comparison
The maximum DSMC drawdown since its inception was -28.62%, smaller than the maximum USO drawdown of -98.19%. Use the drawdown chart below to compare losses from any high point for DSMC and USO.
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Drawdown Indicators
| DSMC | USO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -28.62% | -98.19% | +69.57% |
Max Drawdown (1Y)Largest decline over 1 year | -10.33% | -20.39% | +10.06% |
Max Drawdown (3Y)Largest decline over 3 years | -28.62% | -26.05% | -2.57% |
Max Drawdown (5Y)Largest decline over 5 years | — | -36.23% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -86.75% | — |
Current DrawdownCurrent decline from peak | -1.66% | -85.01% | +83.35% |
Average DrawdownAverage peak-to-trough decline | -6.00% | -75.30% | +69.30% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.10% | 10.82% | -7.72% |
Volatility
DSMC vs. USO - Volatility Comparison
The current volatility for Distillate Small/Mid Cash Flow ETF (DSMC) is 4.40%, while United States Oil Fund LP (USO) has a volatility of 14.87%. This indicates that DSMC 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
| DSMC | USO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.40% | 14.87% | -10.47% |
Volatility (6M)Calculated over the trailing 6-month period | 10.54% | 38.23% | -27.69% |
Volatility (1Y)Calculated over the trailing 1-year period | 17.33% | 44.20% | -26.87% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 20.39% | 36.06% | -15.67% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 20.39% | 39.00% | -18.61% |
DSMC vs. USO - Expense Ratio Comparison
DSMC has a 0.55% expense ratio, which is lower than USO's 0.86% expense ratio.
Dividends
DSMC vs. USO - Dividend Comparison
DSMC's dividend yield for the trailing twelve months is around 1.13%, while USO has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
DSMC Distillate Small/Mid Cash Flow ETF | 1.13% | 1.18% | 1.31% | 1.02% | 0.27% |
USO United States Oil Fund LP | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
DSMC and USO have a correlation of -0.09, 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 DSMC (4.40%). In terms of maximum drawdown, DSMC dropped -28.62% vs USO's -98.19%.
On 3-year performance, USO leads with 29.98% vs 13.36% for DSMC. On fees, DSMC is cheaper at 0.55% per year. On volatility, DSMC has been the lower-risk option at 4.40%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, USO has performed better with a 29.98% return vs 13.36%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
DSMC is cheaper with a 0.55% expense ratio, compared with 0.86% for USO.
DSMC has the higher dividend yield at 1.13%, compared with 0.00% for USO.
DSMC is categorized as Small Cap Value Equities, while USO is Oil & Gas. They also come from different issuers: Distillate and USCF. Their fees differ too: 0.55% for DSMC and 0.86% for USO.
USO currently has the higher Sharpe Ratio (2.31 vs 1.59), 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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