EBI vs. USO

Last updated Jun 5, 2026

EBI (Longview Advantage ETF) and USO (United States Oil Fund LP) are both exchange-traded funds - EBI is a Large Cap Blend Equities fund actively managed by Longview, while USO is a Oil & Gas fund tracking the Front Month Light Sweet Crude Oil. EBI is actively managed, while USO is passively managed. Over the past year, EBI returned 34.11% vs 97.20% for USO. At a correlation of -0.09, they often move in opposite directions. EBI charges 0.24%/yr vs 0.86%/yr for USO.

Performance

EBI vs. USO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Longview Advantage ETF (EBI) and United States Oil Fund LP (USO). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, EBI achieves a 14.86% return, which is significantly lower than USO's 97.72% return.

EBI

• 1D: 0.21%
• 1M: 3.43%
• YTD: 14.86%
• 6M: 15.24%
• 1Y: 34.11%
• 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%

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

EBI vs. USO - Yearly Performance Comparison

	2026 (YTD)	2025
EBI Longview Advantage ETF	14.86%	15.82%
USO United States Oil Fund LP	97.72%	-8.13%

Correlation

The correlation between EBI and USO is -0.24, 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	-0.24
Correlation (All Time) Calculated using the full available price history since Feb 28, 2025	-0.09

The correlation between EBI and USO shifts across timeframes, from -0.24 (1 year) to -0.09 (all time), reflecting how their relationship changes across market environments.

Return for Risk

EBI vs. USO — Risk / Return Rank

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

EBI

EBI Risk / Return Rank: 87
EBI Sharpe Ratio Rank: 87
EBI Sortino Ratio Rank: 87
EBI Omega Ratio Rank: 85
EBI Calmar Ratio Rank: 87
EBI Martin Ratio Rank: 89

USO

USO Risk / Return Rank: 66
USO Sharpe Ratio Rank: 68
USO Sortino Ratio Rank: 61
USO Omega Ratio Rank: 62
USO Calmar Ratio Rank: 86
USO Martin Ratio Rank: 54

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.

EBI vs. USO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Longview Advantage ETF (EBI) 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.

	EBI	USO	Difference
Sharpe ratio: Return per unit of total volatility	2.83	2.21	+0.62
Sortino ratio: Return per unit of downside risk	3.87	2.80	+1.07
Omega ratio: Gain probability vs. loss probability	1.50	1.37	+0.13
Calmar ratio: Return relative to maximum drawdown	4.83	4.79	+0.04
Martin ratio: Return relative to average drawdown	19.92	9.00	+10.92
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

EBI vs. USO - Sharpe Ratio Comparison

The current EBI Sharpe Ratio is 2.83, which is comparable to the USO Sharpe Ratio of 2.21. The chart below compares the historical Sharpe Ratios of EBI 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.

Sharpe Ratios by Period

	EBI	USO	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.83	2.21	+0.62
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	1.42	-0.18	+1.60

Drawdowns

EBI vs. USO - Drawdown Comparison

The maximum EBI drawdown since its inception was -17.05%, smaller than the maximum USO drawdown of -98.19%. Use the drawdown chart below to compare losses from any high point for EBI and USO.

Drawdown Indicators

	EBI	USO	Difference
Max Drawdown Largest peak-to-trough decline	-17.05%	-98.19%	+81.14%
Max Drawdown (1Y) Largest decline over 1 year	-7.09%	-20.39%	+13.30%
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 Drawdown Current decline from peak	-0.24%	-85.45%	+85.21%
Average Drawdown Average peak-to-trough decline	-2.06%	-75.30%	+73.24%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.72%	10.84%	-9.12%

Volatility

EBI vs. USO - Volatility Comparison

The current volatility for Longview Advantage ETF (EBI) is 2.85%, while United States Oil Fund LP (USO) has a volatility of 14.97%. This indicates that EBI 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.

Volatility by Period

	EBI	USO	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.85%	14.97%	-12.12%
Volatility (6M) Calculated over the trailing 6-month period	8.80%	38.35%	-29.55%
Volatility (1Y) Calculated over the trailing 1-year period	12.13%	44.32%	-32.19%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.93%	36.09%	-18.16%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.93%	39.00%	-21.07%

EBI vs. USO - Expense Ratio Comparison

EBI has a 0.24% expense ratio, which is lower than USO's 0.86% expense ratio.

Dividends

EBI vs. USO - Dividend Comparison

EBI's dividend yield for the trailing twelve months is around 0.92%, while USO has not paid dividends to shareholders.

Position	TTM	2025
EBI Longview Advantage ETF	0.92%	1.05%
USO United States Oil Fund LP	0.00%	0.00%

Frequently Asked Questions

Can I hold both EBI and USO in my portfolio?

EBI and USO have a correlation of -0.24, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, EBI or USO?

USO has higher volatility (14.97%) compared to EBI (2.85%). In terms of maximum drawdown, EBI dropped -17.05% vs USO's -98.19%.

Which ETF is better, EBI or USO?

On 1-year performance, USO leads with 97.20% vs 34.11% for EBI. On fees, EBI is cheaper at 0.24% per year. On volatility, EBI has been the lower-risk option at 2.85%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, EBI or USO?

Over the 1-year period, USO has performed better with a 97.20% return vs 34.11%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, EBI or USO?

EBI is cheaper with a 0.24% expense ratio, compared with 0.86% for USO.

Which ETF pays a higher dividend yield, EBI or USO?

EBI has the higher dividend yield at 0.92%, compared with 0.00% for USO.

What is the main difference between EBI and USO?

EBI is categorized as Large Cap Blend Equities, while USO is Oil & Gas. They also come from different issuers: Longview and USCF. Their fees differ too: 0.24% for EBI and 0.86% for USO.

Which has better risk-adjusted returns?

EBI currently has the higher Sharpe Ratio (2.83 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.