ESN vs. USO
ESN (Essential 40 Stock ETF) and USO (United States Oil Fund LP) are both exchange-traded funds - ESN is a Large Cap Blend Equities fund tracking the Essential 40 Stock Index, while USO is a Oil & Gas fund tracking the Front Month Light Sweet Crude Oil. Both are passively managed. Over the past year, ESN returned 26.33% vs 90.22% for USO. At a correlation of -0.09, they often move in opposite directions. ESN charges 0.70%/yr vs 0.86%/yr for USO.
Performance
ESN vs. USO - Performance Comparison
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Returns By Period
In the year-to-date period, ESN achieves a 13.17% return, which is significantly lower than USO's 92.34% return.
ESN
- 1D
- -1.55%
- 1M
- 2.19%
- YTD
- 13.17%
- 6M
- 13.13%
- 1Y
- 26.33%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
USO
- 1D
- -2.72%
- 1M
- -0.69%
- YTD
- 92.34%
- 6M
- 84.96%
- 1Y
- 90.22%
- 3Y*
- 27.76%
- 5Y*
- 22.99%
- 10Y*
- 3.13%
ESN vs. USO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
ESN Essential 40 Stock ETF | 13.17% | 16.52% | -2.98% |
USO United States Oil Fund LP | 92.34% | -8.46% | 4.55% |
Correlation
The correlation between ESN and USO is -0.22, 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 | -0.22 |
Correlation (All Time) Calculated using the full available price history since Oct 22, 2024 | -0.09 |
The correlation between ESN and USO shifts across timeframes, from -0.22 (1 year) to -0.09 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
ESN vs. USO — Risk / Return Rank
ESN
USO
ESN vs. USO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Essential 40 Stock ETF (ESN) 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.
| ESN | USO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.63 | ||
| Sortino ratioReturn per unit of downside risk | +1.05 | ||
| Omega ratioGain probability vs. loss probability | 1.46 | 1.35 | +0.11 |
| Calmar ratioReturn relative to maximum drawdown | 4.12 | 4.45 | -0.33 |
| Martin ratioReturn relative to average drawdown | 16.39 | 8.33 | +8.06 |
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
| ESN | USO | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.67 | 2.04 | +0.63 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | 0.64 | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.08 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 1.24 | -0.18 | +1.42 |
Drawdowns
ESN vs. USO - Drawdown Comparison
The maximum ESN drawdown since its inception was -13.60%, smaller than the maximum USO drawdown of -98.19%. Use the drawdown chart below to compare losses from any high point for ESN and USO.
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Drawdown Indicators
| ESN | USO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -13.60% | -98.19% | +84.59% |
Max Drawdown (1Y)Largest decline over 1 year | -6.42% | -20.39% | +13.97% |
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 DrawdownCurrent decline from peak | -1.84% | -85.85% | +84.01% |
Average DrawdownAverage peak-to-trough decline | -1.87% | -75.30% | +73.43% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.61% | 10.87% | -9.26% |
Volatility
ESN vs. USO - Volatility Comparison
The current volatility for Essential 40 Stock ETF (ESN) is 2.97%, while United States Oil Fund LP (USO) has a volatility of 13.30%. This indicates that ESN 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
| ESN | USO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.97% | 13.30% | -10.33% |
Volatility (6M)Calculated over the trailing 6-month period | 7.24% | 38.49% | -31.25% |
Volatility (1Y)Calculated over the trailing 1-year period | 9.90% | 44.41% | -34.51% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 13.33% | 36.09% | -22.76% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 13.33% | 39.01% | -25.68% |
ESN vs. USO - Expense Ratio Comparison
ESN has a 0.70% expense ratio, which is lower than USO's 0.86% expense ratio.
Dividends
ESN vs. USO - Dividend Comparison
ESN's dividend yield for the trailing twelve months is around 0.80%, while USO has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 |
|---|---|---|---|
ESN Essential 40 Stock ETF | 0.80% | 0.91% | 0.76% |
USO United States Oil Fund LP | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
ESN and USO have a correlation of -0.22, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
USO has higher volatility (13.30%) compared to ESN (2.97%). In terms of maximum drawdown, ESN dropped -13.60% vs USO's -98.19%.
On 1-year performance, USO leads with 90.22% vs 26.33% for ESN. On fees, ESN is cheaper at 0.70% per year. On volatility, ESN has been the lower-risk option at 2.97%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, USO has performed better with a 90.22% return vs 26.33%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
ESN is cheaper with a 0.70% expense ratio, compared with 0.86% for USO.
ESN has the higher dividend yield at 0.80%, compared with 0.00% for USO.
ESN is categorized as Large Cap Blend Equities, while USO is Oil & Gas. ESN tracks Essential 40 Stock Index, while USO tracks Front Month Light Sweet Crude Oil. They also come from different issuers: KKM Financial and USCF. Their fees differ too: 0.70% for ESN and 0.86% for USO.
ESN currently has the higher Sharpe Ratio (2.67 vs 2.04), 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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