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EDV vs. USO
Performance
Return for Risk
Drawdowns
Volatility
Dividends

EDV vs. USO

Last updated Jun 4, 2026

EDV (Vanguard Extended Duration Treasury ETF) and USO (United States Oil Fund LP) are both exchange-traded funds - EDV is a Government Bonds fund tracking the Bloomberg U.S. Treasury STRIPS 20-30 Year Equal Par Bond Index, while USO is a Oil & Gas fund tracking the Front Month Light Sweet Crude Oil. Both are passively managed. Over the past 10 years, EDV returned -3.32%/yr vs 4.07%/yr for USO. At a correlation of -0.24, they often move in opposite directions. EDV charges 0.05%/yr vs 0.86%/yr for USO.

Performance

EDV vs. USO - Performance Comparison

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

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Returns By Period

In the year-to-date period, EDV achieves a -0.72% return, which is significantly lower than USO's 103.67% return. Over the past 10 years, EDV has underperformed USO with an annualized return of -3.32%, while USO has yielded a comparatively higher 4.07% annualized return.

EDV

1D
-0.48%
1M
1.42%
YTD
-0.72%
6M
-3.69%
1Y
4.85%
3Y*
-5.25%
5Y*
-10.02%
10Y*
-3.32%

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

EDV vs. USO - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
EDV
Vanguard Extended Duration Treasury ETF		-0.72%0.65%-12.78%1.65%-39.15%-6.19%23.59%18.67%-3.40%13.94%
USO
United States Oil Fund LP		103.67%-8.46%13.35%-4.94%28.97%64.68%-67.79%32.61%-19.57%2.47%

Correlation

The correlation between EDV 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

-0.21

Correlation (5Y)
Calculated over the trailing 5-year period

-0.20

Correlation (10Y)
Calculated over the trailing 10-year period

-0.19

Correlation (All Time)
Calculated using the full available price history since Dec 14, 2007

-0.24

The correlation between EDV and USO shifts across timeframes, from -0.36 (1 year) to -0.19 (10 years), 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.

Vanguard Extended Duration Treasury ETF

United States Oil Fund LP

Often compared with EDV:
EDV vs. TLTEDV vs. ZROZEDV vs. VGLTEDV vs. TMFEDV vs. GOVZEDV vs. SPTLEDV vs. BLV
Often compared with USO:
USO vs. XLEUSO vs. BNOUSO vs. UCOUSO vs. USLUSO vs. OILKUSO vs. DBOUSO vs. WTI

Return for Risk

EDV vs. USO — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
EDV
EDV Risk / Return Rank: 1313
Overall Rank
EDV Sharpe Ratio Rank: 1313
Sharpe Ratio Rank
EDV Sortino Ratio Rank: 1313
Sortino Ratio Rank
EDV Omega Ratio Rank: 1212
Omega Ratio Rank
EDV Calmar Ratio Rank: 1313
Calmar Ratio Rank
EDV Martin Ratio Rank: 1313
Martin Ratio Rank
USO
USO Risk / Return Rank: 6666
Overall Rank
USO Sharpe Ratio Rank: 6969
Sharpe Ratio Rank
USO Sortino Ratio Rank: 6060
Sortino Ratio Rank
USO Omega Ratio Rank: 6161
Omega Ratio Rank
USO Calmar Ratio Rank: 8787
Calmar Ratio Rank
USO Martin Ratio Rank: 5454
Martin Ratio Rank
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.

EDV vs. USO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Vanguard Extended Duration Treasury ETF (EDV) 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.

EDVUSODifference
Sharpe ratioReturn per unit of total volatility
0.33
2.31

-1.98

Sortino ratioReturn per unit of downside risk
0.58
2.89

-2.31

Omega ratioGain probability vs. loss probability

1.06

1.38

-0.32

Calmar ratioReturn relative to maximum drawdown

0.39

5.01

-4.62

Martin ratioReturn relative to average drawdown

0.90

9.42

-8.52

Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

EDV vs. USO - Sharpe Ratio Comparison

The current EDV Sharpe Ratio is 0.33, which is lower than the USO Sharpe Ratio of 2.31. The chart below compares the historical Sharpe Ratios of EDV 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.

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Sharpe Ratios by Period

EDVUSODifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

0.33

2.31

-1.98

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

-0.47

0.68

-1.15

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

-0.17

0.10

-0.27

Sharpe Ratio (All Time)

Calculated using the full available price history

0.12

-0.18

+0.30

Drawdowns

EDV vs. USO - Drawdown Comparison

The maximum EDV drawdown since its inception was -59.96%, smaller than the maximum USO drawdown of -98.19%. Use the drawdown chart below to compare losses from any high point for EDV and USO.

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Drawdown Indicators

EDVUSODifference

Max Drawdown

Largest peak-to-trough decline

-59.96%

-98.19%

+38.23%

Max Drawdown (1Y)

Largest decline over 1 year

-12.54%

-20.39%

+7.85%

Max Drawdown (3Y)

Largest decline over 3 years

-26.99%

-26.05%

-0.94%

Max Drawdown (5Y)

Largest decline over 5 years

-55.03%

-36.23%

-18.80%

Max Drawdown (10Y)

Largest decline over 10 years

-59.96%

-86.75%

+26.79%

Current Drawdown

Current decline from peak

-54.45%

-85.01%

+30.56%

Average Drawdown

Average peak-to-trough decline

-23.43%

-75.30%

+51.87%

Ulcer Index

Depth and duration of drawdowns from previous peaks

5.38%

10.82%

-5.44%

Volatility

EDV vs. USO - Volatility Comparison

The current volatility for Vanguard Extended Duration Treasury ETF (EDV) is 4.06%, while United States Oil Fund LP (USO) has a volatility of 14.87%. This indicates that EDV 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

EDVUSODifference

Volatility (1M)

Calculated over the trailing 1-month period

4.06%

14.87%

-10.81%

Volatility (6M)

Calculated over the trailing 6-month period

9.65%

38.23%

-28.58%

Volatility (1Y)

Calculated over the trailing 1-year period

14.64%

44.20%

-29.56%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

21.63%

36.06%

-14.43%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

19.81%

39.00%

-19.19%

EDV vs. USO - Expense Ratio Comparison

EDV has a 0.05% expense ratio, which is lower than USO's 0.86% expense ratio.

Dividends

EDV vs. USO - Dividend Comparison

EDV's dividend yield for the trailing twelve months is around 4.99%, while USO has not paid dividends to shareholders.

PositionTTM20252024202320222021202020192018201720162015
EDV
Vanguard Extended Duration Treasury ETF		4.99%4.94%4.65%3.81%3.28%1.95%5.54%3.51%2.90%2.92%5.32%4.24%
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%0.00%0.00%

Frequently Asked Questions

EDV 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 EDV (4.06%). In terms of maximum drawdown, EDV dropped -59.96% vs USO's -98.19%.

On 10-year performance, USO leads with 4.07% vs -3.32% for EDV. On fees, EDV is cheaper at 0.05% per year. On volatility, EDV has been the lower-risk option at 4.06%. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 10-year period, USO has performed better with a 4.07% return vs -3.32%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

EDV is cheaper with a 0.05% expense ratio, compared with 0.86% for USO.

EDV has the higher dividend yield at 4.99%, compared with 0.00% for USO.

EDV is categorized as Government Bonds, while USO is Oil & Gas. EDV tracks Bloomberg U.S. Treasury STRIPS 20-30 Year Equal Par Bond Index, while USO tracks Front Month Light Sweet Crude Oil. They also come from different issuers: Vanguard and USCF. Their fees differ too: 0.05% for EDV and 0.86% for USO.

USO currently has the higher Sharpe Ratio (2.31 vs 0.33), 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.

Portfolio Optimizer

Find the right allocation for EDV and USO

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