ELIL vs. USO

Last updated Jun 4, 2026

ELIL (Direxion Daily LLY Bull 2X Shares) and USO (United States Oil Fund LP) are both exchange-traded funds - ELIL is a Leveraged Equities fund actively managed by Direxion, while USO is a Oil & Gas fund tracking the Front Month Light Sweet Crude Oil. ELIL is actively managed, while USO is passively managed. Over the past year, ELIL returned 63.78% vs 101.55% for USO. At a correlation of -0.16, they often move in opposite directions. ELIL charges 0.97%/yr vs 0.86%/yr for USO.

Performance

ELIL vs. USO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Direxion Daily LLY Bull 2X Shares (ELIL) 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, ELIL achieves a -8.59% return, which is significantly lower than USO's 103.67% return.

ELIL

• 1D: 3.14%
• 1M: 23.31%
• YTD: -8.59%
• 6M: -1.88%
• 1Y: 63.78%
• 3Y*: —
• 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%

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

ELIL vs. USO - Yearly Performance Comparison

	2026 (YTD)	2025
ELIL Direxion Daily LLY Bull 2X Shares	-8.59%	36.32%
USO United States Oil Fund LP	103.67%	-8.30%

Correlation

The correlation between ELIL and USO is -0.25, 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	-0.25
Correlation (All Time) Calculated using the full available price history since Mar 27, 2025	-0.16

Return for Risk

ELIL vs. USO — Risk / Return Rank

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

ELIL

ELIL Risk / Return Rank: 28
ELIL Sharpe Ratio Rank: 25
ELIL Sortino Ratio Rank: 29
ELIL Omega Ratio Rank: 32
ELIL Calmar Ratio Rank: 29
ELIL Martin Ratio Rank: 24

USO

USO Risk / Return Rank: 66
USO Sharpe Ratio Rank: 69
USO Sortino Ratio Rank: 60
USO Omega Ratio Rank: 61
USO Calmar Ratio Rank: 87
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.

ELIL vs. USO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Direxion Daily LLY Bull 2X Shares (ELIL) 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.

	ELIL	USO	Difference
Sharpe ratio: Return per unit of total volatility	0.85	2.31	-1.46
Sortino ratio: Return per unit of downside risk	1.55	2.89	-1.34
Omega ratio: Gain probability vs. loss probability	1.21	1.38	-0.17
Calmar ratio: Return relative to maximum drawdown	1.39	5.01	-3.62
Martin ratio: Return relative to average drawdown	2.99	9.42	-6.43
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

ELIL vs. USO - Sharpe Ratio Comparison

The current ELIL Sharpe Ratio is 0.85, which is lower than the USO Sharpe Ratio of 2.31. The chart below compares the historical Sharpe Ratios of ELIL 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

	ELIL	USO	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.85	2.31	-1.46
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	0.25	-0.18	+0.42

Drawdowns

ELIL vs. USO - Drawdown Comparison

The maximum ELIL drawdown since its inception was -56.03%, smaller than the maximum USO drawdown of -98.19%. Use the drawdown chart below to compare losses from any high point for ELIL and USO.

Drawdown Indicators

	ELIL	USO	Difference
Max Drawdown Largest peak-to-trough decline	-56.03%	-98.19%	+42.16%
Max Drawdown (1Y) Largest decline over 1 year	-46.28%	-20.39%	-25.89%
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	-15.45%	-85.01%	+69.56%
Average Drawdown Average peak-to-trough decline	-24.34%	-75.30%	+50.96%
Ulcer Index Depth and duration of drawdowns from previous peaks	21.41%	10.82%	+10.59%

Volatility

ELIL vs. USO - Volatility Comparison

Direxion Daily LLY Bull 2X Shares (ELIL) has a higher volatility of 17.71% compared to United States Oil Fund LP (USO) at 14.87%. This indicates that ELIL's price experiences larger fluctuations and is considered to be riskier than USO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	ELIL	USO	Difference
Volatility (1M) Calculated over the trailing 1-month period	17.71%	14.87%	+2.84%
Volatility (6M) Calculated over the trailing 6-month period	53.09%	38.23%	+14.86%
Volatility (1Y) Calculated over the trailing 1-year period	75.36%	44.20%	+31.16%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	83.27%	36.06%	+47.21%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	83.27%	39.00%	+44.27%

ELIL vs. USO - Expense Ratio Comparison

ELIL has a 0.97% expense ratio, which is higher than USO's 0.86% expense ratio.

Dividends

ELIL vs. USO - Dividend Comparison

ELIL's dividend yield for the trailing twelve months is around 12.18%, while USO has not paid dividends to shareholders.

Position	TTM	2025
ELIL Direxion Daily LLY Bull 2X Shares	12.18%	10.92%
USO United States Oil Fund LP	0.00%	0.00%

Frequently Asked Questions

Can I hold both ELIL and USO in my portfolio?

ELIL and USO have a correlation of -0.25, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, ELIL or USO?

ELIL has higher volatility (17.71%) compared to USO (14.87%). In terms of maximum drawdown, ELIL dropped -56.03% vs USO's -98.19%.

Which ETF is better, ELIL or USO?

On 1-year performance, USO leads with 101.55% vs 63.78% for ELIL. On fees, USO is cheaper at 0.86% per year. On volatility, USO has been the lower-risk option at 14.87%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, ELIL or USO?

Over the 1-year period, USO has performed better with a 101.55% return vs 63.78%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, ELIL or USO?

USO is cheaper with a 0.86% expense ratio, compared with 0.97% for ELIL.

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

ELIL has the higher dividend yield at 12.18%, compared with 0.00% for USO.

What is the main difference between ELIL and USO?

ELIL is categorized as Leveraged Equities, while USO is Oil & Gas. They also come from different issuers: Direxion and USCF. Their fees differ too: 0.97% for ELIL and 0.86% for USO.

Which has better risk-adjusted returns?

USO currently has the higher Sharpe Ratio (2.31 vs 0.85), 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.