DUBS vs. USO
DUBS (Aptus Large Cap Enhanced Yield ETF) and USO (United States Oil Fund LP) are both exchange-traded funds - DUBS is a Large Cap Blend Equities fund actively managed by Aptus, while USO is a Oil & Gas fund tracking the Front Month Light Sweet Crude Oil. DUBS is actively managed, while USO is passively managed. Over the past year, DUBS returned 32.48% vs 97.20% for USO. At a correlation of -0.07, they often move in opposite directions. DUBS charges 0.39%/yr vs 0.86%/yr for USO.
Performance
DUBS vs. USO - Performance Comparison
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Returns By Period
In the year-to-date period, DUBS achieves a 13.00% return, which is significantly lower than USO's 97.72% return.
DUBS
- 1D
- 0.34%
- 1M
- 5.12%
- YTD
- 13.00%
- 6M
- 13.09%
- 1Y
- 32.48%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
USO
- 1D
- -2.92%
- 1M
- -5.15%
- YTD
- 97.72%
- 6M
- 91.54%
- 1Y
- 97.20%
- 3Y*
- 28.78%
- 5Y*
- 23.67%
- 10Y*
- 3.57%
DUBS vs. USO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
DUBS Aptus Large Cap Enhanced Yield ETF | 13.00% | 19.28% | 24.08% | 8.10% |
USO United States Oil Fund LP | 97.72% | -8.46% | 13.35% | 7.80% |
Correlation
The correlation between DUBS and USO is -0.32, 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 | -0.32 |
Correlation (All Time) Calculated using the full available price history since Jun 15, 2023 | -0.07 |
Over the past year, the inverse relationship between DUBS and USO has strengthened: their correlation has moved from -0.07 to -0.32, meaning they now move in opposite directions more often than their long-term average.
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Return for Risk
DUBS vs. USO — Risk / Return Rank
DUBS
USO
DUBS vs. USO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Aptus Large Cap Enhanced Yield ETF (DUBS) 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.
| DUBS | USO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.36 | ||
| Sortino ratioReturn per unit of downside risk | +0.67 | ||
| Omega ratioGain probability vs. loss probability | 1.47 | 1.37 | +0.10 |
| Calmar ratioReturn relative to maximum drawdown | 3.94 | 4.79 | -0.86 |
| Martin ratioReturn relative to average drawdown | 18.74 | 9.00 | +9.75 |
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
| DUBS | USO | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.57 | 2.21 | +0.36 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | 0.66 | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.09 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 1.53 | -0.18 | +1.71 |
Drawdowns
DUBS vs. USO - Drawdown Comparison
The maximum DUBS drawdown since its inception was -18.48%, smaller than the maximum USO drawdown of -98.19%. Use the drawdown chart below to compare losses from any high point for DUBS and USO.
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Drawdown Indicators
| DUBS | USO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -18.48% | -98.19% | +79.71% |
Max Drawdown (1Y)Largest decline over 1 year | -8.29% | -20.39% | +12.10% |
Max Drawdown (3Y)Largest decline over 3 years | — | -26.05% | — |
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 | -0.19% | -85.45% | +85.26% |
Average DrawdownAverage peak-to-trough decline | -1.94% | -75.30% | +73.36% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.74% | 10.84% | -9.10% |
Volatility
DUBS vs. USO - Volatility Comparison
The current volatility for Aptus Large Cap Enhanced Yield ETF (DUBS) is 2.69%, while United States Oil Fund LP (USO) has a volatility of 14.97%. This indicates that DUBS 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
| DUBS | USO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.69% | 14.97% | -12.28% |
Volatility (6M)Calculated over the trailing 6-month period | 9.47% | 38.35% | -28.88% |
Volatility (1Y)Calculated over the trailing 1-year period | 12.72% | 44.32% | -31.60% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 14.54% | 36.09% | -21.55% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 14.54% | 39.00% | -24.46% |
DUBS vs. USO - Expense Ratio Comparison
DUBS has a 0.39% expense ratio, which is lower than USO's 0.86% expense ratio.
Dividends
DUBS vs. USO - Dividend Comparison
DUBS's dividend yield for the trailing twelve months is around 1.93%, while USO has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 |
|---|---|---|---|---|
DUBS Aptus Large Cap Enhanced Yield ETF | 1.93% | 2.06% | 2.52% | 1.14% |
USO United States Oil Fund LP | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
DUBS and USO have a correlation of -0.32, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
USO has higher volatility (14.97%) compared to DUBS (2.69%). In terms of maximum drawdown, DUBS dropped -18.48% vs USO's -98.19%.
On 1-year performance, USO leads with 97.20% vs 32.48% for DUBS. On fees, DUBS is cheaper at 0.39% per year. On volatility, DUBS has been the lower-risk option at 2.69%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, USO has performed better with a 97.20% return vs 32.48%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
DUBS is cheaper with a 0.39% expense ratio, compared with 0.86% for USO.
DUBS has the higher dividend yield at 1.93%, compared with 0.00% for USO.
DUBS is categorized as Large Cap Blend Equities, while USO is Oil & Gas. They also come from different issuers: Aptus and USCF. Their fees differ too: 0.39% for DUBS and 0.86% for USO.
DUBS currently has the higher Sharpe Ratio (2.57 vs 2.21), 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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