EBLU vs. USO
EBLU (Ecofin Global Water ESG Fund) and USO (United States Oil Fund LP) are both exchange-traded funds - EBLU is a Water Equities fund tracking the Ecofin Water ESG Index, while USO is a Oil & Gas fund tracking the Front Month Light Sweet Crude Oil. Both are passively managed. Over the past 5 years, EBLU returned 3.78%/yr vs 24.41%/yr for USO. At a 0.11 correlation, their price movements are largely independent. EBLU charges 0.40%/yr vs 0.86%/yr for USO.
Performance
EBLU vs. USO - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, EBLU achieves a -1.99% return, which is significantly lower than USO's 103.67% return.
EBLU
- 1D
- 0.17%
- 1M
- -3.28%
- YTD
- -1.99%
- 6M
- -4.11%
- 1Y
- -1.51%
- 3Y*
- 9.71%
- 5Y*
- 3.78%
- 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%
EBLU vs. USO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
EBLU Ecofin Global Water ESG Fund | -1.99% | 11.82% | 8.54% | 20.95% | -25.99% | 28.93% | 15.74% | 38.72% | -12.80% | 20.21% |
USO United States Oil Fund LP | 103.67% | -8.46% | 13.35% | -4.94% | 28.97% | 64.68% | -67.79% | 32.61% | -19.57% | 5.72% |
Correlation
The correlation between EBLU and USO is -0.36, 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 | -0.36 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.06 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.04 |
Correlation (All Time) Calculated using the full available price history since Feb 16, 2017 | 0.11 |
The correlation between EBLU and USO shifts across timeframes, from -0.36 (1 year) to 0.11 (all time), reflecting how their relationship changes across market environments.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
EBLU vs. USO — Risk / Return Rank
EBLU
USO
EBLU vs. USO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Ecofin Global Water ESG Fund (EBLU) 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.
| EBLU | USO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.42 | ||
| Sortino ratioReturn per unit of downside risk | -2.94 | ||
| Omega ratioGain probability vs. loss probability | 0.99 | 1.38 | -0.39 |
| Calmar ratioReturn relative to maximum drawdown | -0.12 | 5.01 | -5.12 |
| Martin ratioReturn relative to average drawdown | -0.28 | 9.42 | -9.70 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
Loading charts...
Sharpe Ratios by Period
| EBLU | USO | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -0.11 | 2.31 | -2.42 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.22 | 0.68 | -0.46 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.10 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.50 | -0.18 | +0.67 |
Drawdowns
EBLU vs. USO - Drawdown Comparison
The maximum EBLU drawdown since its inception was -37.58%, smaller than the maximum USO drawdown of -98.19%. Use the drawdown chart below to compare losses from any high point for EBLU and USO.
Loading charts...
Drawdown Indicators
| EBLU | USO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -37.58% | -98.19% | +60.61% |
Max Drawdown (1Y)Largest decline over 1 year | -13.17% | -20.39% | +7.22% |
Max Drawdown (3Y)Largest decline over 3 years | -15.42% | -26.05% | +10.63% |
Max Drawdown (5Y)Largest decline over 5 years | -35.36% | -36.23% | +0.87% |
Max Drawdown (10Y)Largest decline over 10 years | — | -86.75% | — |
Current DrawdownCurrent decline from peak | -11.65% | -85.01% | +73.36% |
Average DrawdownAverage peak-to-trough decline | -8.15% | -75.30% | +67.15% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 5.46% | 10.82% | -5.36% |
Volatility
EBLU vs. USO - Volatility Comparison
The current volatility for Ecofin Global Water ESG Fund (EBLU) is 4.35%, while United States Oil Fund LP (USO) has a volatility of 14.87%. This indicates that EBLU 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.
Loading charts...
Volatility by Period
| EBLU | USO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.35% | 14.87% | -10.52% |
Volatility (6M)Calculated over the trailing 6-month period | 11.46% | 38.23% | -26.77% |
Volatility (1Y)Calculated over the trailing 1-year period | 14.44% | 44.20% | -29.76% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 17.32% | 36.06% | -18.74% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.96% | 39.00% | -20.04% |
EBLU vs. USO - Expense Ratio Comparison
EBLU has a 0.40% expense ratio, which is lower than USO's 0.86% expense ratio.
Dividends
EBLU vs. USO - Dividend Comparison
EBLU's dividend yield for the trailing twelve months is around 3.37%, while USO has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
EBLU Ecofin Global Water ESG Fund | 3.37% | 3.31% | 1.34% | 1.46% | 1.64% | 1.55% | 1.42% | 1.58% | 1.35% | 1.32% |
USO United States Oil Fund LP | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
EBLU and USO have a correlation of -0.36, 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 EBLU (4.35%). In terms of maximum drawdown, EBLU dropped -37.58% vs USO's -98.19%.
On 5-year performance, USO leads with 24.41% vs 3.78% for EBLU. On fees, EBLU is cheaper at 0.40% per year. On volatility, EBLU has been the lower-risk option at 4.35%. 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 3.78%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
EBLU is cheaper with a 0.40% expense ratio, compared with 0.86% for USO.
EBLU has the higher dividend yield at 3.37%, compared with 0.00% for USO.
EBLU is categorized as Water Equities, while USO is Oil & Gas. EBLU tracks Ecofin Water ESG Index, while USO tracks Front Month Light Sweet Crude Oil. They also come from different issuers: Tortoise and USCF. Their fees differ too: 0.40% for EBLU and 0.86% for USO.
USO currently has the higher Sharpe Ratio (2.31 vs -0.11), 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.
Find the right allocation for EBLU and USO
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer