EPI vs. USO
EPI (WisdomTree India Earnings Fund) and USO (United States Oil Fund LP) are both exchange-traded funds - EPI is a Asia Pacific Equities fund tracking the WisdomTree India Earnings 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, EPI returned 9.14%/yr vs 3.80%/yr for USO. At a 0.23 correlation, their price movements are largely independent. EPI charges 0.84%/yr vs 0.86%/yr for USO.
Performance
EPI vs. USO - Performance Comparison
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Returns By Period
In the year-to-date period, EPI achieves a -8.75% return, which is significantly lower than USO's 98.48% return. Over the past 10 years, EPI has outperformed USO with an annualized return of 9.14%, while USO has yielded a comparatively lower 3.80% annualized return.
EPI
- 1D
- 0.05%
- 1M
- -2.45%
- YTD
- -8.75%
- 6M
- -7.57%
- 1Y
- -9.24%
- 3Y*
- 8.10%
- 5Y*
- 5.97%
- 10Y*
- 9.14%
USO
- 1D
- 1.31%
- 1M
- -3.87%
- YTD
- 98.48%
- 6M
- 95.54%
- 1Y
- 97.37%
- 3Y*
- 28.86%
- 5Y*
- 23.92%
- 10Y*
- 3.80%
EPI vs. USO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
EPI WisdomTree India Earnings Fund | -8.75% | 2.25% | 10.70% | 26.03% | -4.74% | 26.41% | 18.55% | 1.53% | -9.88% | 39.14% |
USO United States Oil Fund LP | 98.48% | -8.46% | 13.35% | -4.94% | 28.97% | 64.68% | -67.79% | 32.61% | -19.57% | 2.47% |
Correlation
The correlation between EPI 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 (3Y) Calculated over the trailing 3-year period | -0.07 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.04 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.12 |
Correlation (All Time) Calculated using the full available price history since Feb 27, 2008 | 0.23 |
The correlation between EPI and USO shifts across timeframes, from -0.32 (1 year) to 0.23 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
EPI vs. USO — Risk / Return Rank
EPI
USO
EPI vs. USO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for WisdomTree India Earnings Fund (EPI) 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.
| EPI | USO | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | -0.62 | 2.22 | -2.84 |
Sortino ratioReturn per unit of downside risk | -0.81 | 2.81 | -3.62 |
Omega ratioGain probability vs. loss probability | 0.91 | 1.37 | -0.47 |
Calmar ratioReturn relative to maximum drawdown | -0.51 | 5.12 | -5.64 |
Martin ratioReturn relative to average drawdown | -1.27 | 9.66 | -10.93 |
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
| EPI | USO | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -0.62 | 2.22 | -2.84 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.37 | 0.67 | -0.30 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.45 | 0.10 | +0.35 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.14 | -0.18 | +0.32 |
Drawdowns
EPI vs. USO - Drawdown Comparison
The maximum EPI drawdown since its inception was -66.21%, smaller than the maximum USO drawdown of -98.19%. Use the drawdown chart below to compare losses from any high point for EPI and USO.
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Drawdown Indicators
| EPI | USO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -66.21% | -98.19% | +31.98% |
Max Drawdown (1Y)Largest decline over 1 year | -16.88% | -20.39% | +3.51% |
Max Drawdown (3Y)Largest decline over 3 years | -21.89% | -26.05% | +4.16% |
Max Drawdown (5Y)Largest decline over 5 years | -21.89% | -36.23% | +14.34% |
Max Drawdown (10Y)Largest decline over 10 years | -50.29% | -86.75% | +36.46% |
Current DrawdownCurrent decline from peak | -16.66% | -85.39% | +68.73% |
Average DrawdownAverage peak-to-trough decline | -18.65% | -75.30% | +56.65% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 6.83% | 10.81% | -3.98% |
Volatility
EPI vs. USO - Volatility Comparison
The current volatility for WisdomTree India Earnings Fund (EPI) is 4.79%, while United States Oil Fund LP (USO) has a volatility of 15.03%. This indicates that EPI 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
| EPI | USO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.79% | 15.03% | -10.24% |
Volatility (6M)Calculated over the trailing 6-month period | 12.75% | 38.18% | -25.43% |
Volatility (1Y)Calculated over the trailing 1-year period | 14.89% | 44.26% | -29.37% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.20% | 36.04% | -19.84% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 20.35% | 39.00% | -18.65% |
EPI vs. USO - Expense Ratio Comparison
EPI has a 0.84% expense ratio, which is lower than USO's 0.86% expense ratio.
Dividends
EPI vs. USO - Dividend Comparison
Neither EPI nor USO has paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
EPI WisdomTree India Earnings Fund | 0.00% | 0.00% | 0.27% | 0.15% | 6.01% | 1.18% | 0.78% | 1.17% | 1.18% | 0.85% | 1.05% | 1.20% |
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
EPI 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 (15.03%) compared to EPI (4.79%). In terms of maximum drawdown, EPI dropped -66.21% vs USO's -98.19%.
On 10-year performance, EPI leads with 9.14% vs 3.80% for USO. On fees, EPI is cheaper at 0.84% per year. On volatility, EPI has been the lower-risk option at 4.79%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, EPI has performed better with a 9.14% return vs 3.80%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
EPI is cheaper with a 0.84% expense ratio, compared with 0.86% for USO.
EPI and USO have nearly identical dividend yields, around 0.00%.
EPI is categorized as Asia Pacific Equities, while USO is Oil & Gas. EPI tracks WisdomTree India Earnings Index, while USO tracks Front Month Light Sweet Crude Oil. They also come from different issuers: WisdomTree and USCF. Their fees differ too: 0.84% for EPI and 0.86% for USO.
USO currently has the higher Sharpe Ratio (2.22 vs -0.62), 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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