EPI vs. USO
EPI (WisdomTree India Earnings Fund) and USO (United States Oil Fund LP) are both exchange-traded funds - EPI is a India 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 8.68%/yr vs 5.64%/yr for USO. Their 0.23 correlation means their historical movements had little consistent relationship. 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 -7.13% return, which is significantly lower than USO's 86.77% return. Over the past 10 years, EPI has outperformed USO with an annualized return of 8.68%, while USO has yielded a comparatively lower 5.64% annualized return.
EPI
- 1D
- 0.07%
- 1M
- 0.16%
- 6M
- -4.00%
- YTD
- -7.13%
- 1Y
- -3.95%
- 3Y*
- 5.78%
- 5Y*
- 6.02%
- 10Y*
- 8.68%
- ALL TIME*
- 3.91%
USO
- 1D
- 1.33%
- 1M
- 24.23%
- 6M
- 62.44%
- YTD
- 86.77%
- 1Y
- 66.76%
- 3Y*
- 20.97%
- 5Y*
- 20.59%
- 10Y*
- 5.64%
- ALL TIME*
- -6.85%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $17.75M | $16.45M | $21.29M | |
| $968.42M | $871.56M | $931.57M |
EPI vs. USO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
EPI WisdomTree India Earnings Fund | -7.13% | 2.25% | 10.70% | 26.03% | -4.74% | 26.41% | 18.55% | 1.53% | -9.88% | 39.14% |
USO United States Oil Fund LP | 86.77% | -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 -0.38, meaning they have often moved in opposite directions in the past. This relationship can weaken or reverse as market conditions change.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | -0.38 |
Correlation (3Y) Balances recent behavior with more history. | -0.12 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.01 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.10 |
Correlation (All Time) Calculated using the full available price history since Feb 26, 2008 | 0.23 |
The correlation between EPI and USO shifts across timeframes, from -0.38 (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.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| EPI | USO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.59 | ||
| Sortino ratioReturn per unit of downside risk | -2.25 | ||
| Omega ratioGain probability vs. loss probability | 0.97 | 1.25 | -0.28 |
| Calmar ratioReturn relative to maximum drawdown | -0.25 | 1.93 | -2.18 |
| Martin ratioReturn relative to average drawdown | -0.59 | 5.60 | -6.19 |
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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 | -15.69% | -32.49% | +16.80% |
Max Drawdown (3Y)Largest decline over 3 years | -21.89% | -32.49% | +10.60% |
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 | -15.19% | -86.26% | +71.07% |
Average DrawdownAverage peak-to-trough decline | -18.63% | -75.38% | +56.75% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 6.67% | 12.03% | -5.36% |
Volatility
EPI vs. USO - Volatility Comparison
The current volatility for WisdomTree India Earnings Fund (EPI) is 3.62%, while United States Oil Fund LP (USO) has a volatility of 17.73%. 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 | 3.62% | 17.73% | -14.11% |
Volatility (6M)Calculated over the trailing 6-month period | 13.01% | 42.79% | -29.78% |
Volatility (1Y)Calculated over the trailing 1-year period | 15.28% | 46.91% | -31.63% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.29% | 37.06% | -20.77% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 20.27% | 39.29% | -19.02% |
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 -0.38, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
USO has higher volatility (17.73%) compared to EPI (3.62%). In terms of maximum drawdown, EPI dropped -66.21% vs USO's -98.19%.
On 10-year performance, EPI leads with 8.68% vs 5.64% for USO. On fees, EPI is cheaper at 0.84% per year. On volatility, EPI has been the lower-risk option at 3.62%. 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 8.68% return vs 5.64%. 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 India 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 (1.34 vs -0.26), 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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