ETCG vs. USO
ETCG (Grayscale Ethereum Classic Trust (ETC)) and USO (United States Oil Fund LP) are both exchange-traded funds - ETCG is a Cryptocurrency fund tracking the Ethereum Classic (ETC), while USO is a Oil & Gas fund tracking the Front Month Light Sweet Crude Oil. Both are passively managed. Over the past 5 years, ETCG returned -37.77%/yr vs 19.21%/yr for USO. Their 0.06 correlation means their historical movements had little consistent relationship. ETCG charges 2.50%/yr vs 0.86%/yr for USO.
Performance
ETCG vs. USO - Performance Comparison
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Returns By Period
In the year-to-date period, ETCG achieves a -47.46% return, which is significantly lower than USO's 67.41% return.
ETCG
- 1D
- 1.43%
- 1M
- -13.06%
- 6M
- -34.35%
- YTD
- -47.46%
- 1Y
- -66.78%
- 3Y*
- -20.02%
- 5Y*
- -37.77%
- 10Y*
- —
- ALL TIME*
- -22.05%
USO
- 1D
- -5.19%
- 1M
- 11.35%
- 6M
- 49.45%
- YTD
- 67.41%
- 1Y
- 52.12%
- 3Y*
- 16.20%
- 5Y*
- 19.21%
- 10Y*
- 3.91%
- ALL TIME*
- -7.35%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $62.63K | $57.03K | $104.25K | |
| $990.59M | $905.37M | $892.65M |
ETCG vs. USO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
ETCG Grayscale Ethereum Classic Trust (ETC) | -47.46% | -39.78% | -9.57% | 289.22% | -80.45% | 145.11% | -10.70% | 7.52% | -74.91% |
USO United States Oil Fund LP | 67.41% | -8.46% | 13.35% | -4.94% | 28.97% | 64.68% | -67.79% | 32.61% | -32.78% |
Correlation
The correlation between ETCG and USO is -0.12, 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. | -0.12 |
Correlation (3Y) Balances recent behavior with more history. | -0.02 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.06 |
Correlation (All Time) Calculated using the full available price history since May 10, 2018 | 0.06 |
The correlation between ETCG and USO shifts across timeframes, from -0.12 (1 year) to 0.06 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
ETCG vs. USO — Risk / Return Rank
ETCG
USO
ETCG vs. USO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Grayscale Ethereum Classic Trust (ETC) (ETCG) 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.
| ETCG | USO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.27 | ||
| Sortino ratioReturn per unit of downside risk | -4.06 | ||
| Omega ratioGain probability vs. loss probability | 0.76 | 1.21 | -0.46 |
| Calmar ratioReturn relative to maximum drawdown | -0.92 | 1.61 | -2.53 |
| Martin ratioReturn relative to average drawdown | -1.30 | 4.70 | -5.99 |
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Drawdowns
ETCG vs. USO - Drawdown Comparison
The maximum ETCG drawdown since its inception was -96.59%, roughly equal to the maximum USO drawdown of -98.19%. Use the drawdown chart below to compare losses from any high point for ETCG and USO.
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Drawdown Indicators
| ETCG | USO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -96.59% | -98.19% | +1.60% |
Max Drawdown (1Y)Largest decline over 1 year | -72.70% | -32.49% | -40.21% |
Max Drawdown (3Y)Largest decline over 3 years | -82.25% | -32.49% | -49.76% |
Max Drawdown (5Y)Largest decline over 5 years | -92.70% | -36.23% | -56.47% |
Max Drawdown (10Y)Largest decline over 10 years | — | -86.75% | — |
Current DrawdownCurrent decline from peak | -96.20% | -87.68% | -8.52% |
Average DrawdownAverage peak-to-trough decline | -82.89% | -75.38% | -7.51% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 51.47% | 11.15% | +40.32% |
Volatility
ETCG vs. USO - Volatility Comparison
The current volatility for Grayscale Ethereum Classic Trust (ETC) (ETCG) is 9.74%, while United States Oil Fund LP (USO) has a volatility of 19.90%. This indicates that ETCG 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
| ETCG | USO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 9.74% | 19.90% | -10.16% |
Volatility (6M)Calculated over the trailing 6-month period | 33.37% | 43.20% | -9.83% |
Volatility (1Y)Calculated over the trailing 1-year period | 57.25% | 47.43% | +9.82% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 90.69% | 37.17% | +53.52% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 114.27% | 39.35% | +74.92% |
ETCG vs. USO - Expense Ratio Comparison
ETCG has a 2.50% expense ratio, which is higher than USO's 0.86% expense ratio.
Dividends
ETCG vs. USO - Dividend Comparison
Neither ETCG nor USO has paid dividends to shareholders.
Frequently Asked Questions
ETCG and USO have a correlation of -0.12, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
USO has higher volatility (19.90%) compared to ETCG (9.74%). In terms of maximum drawdown, ETCG dropped -96.59% vs USO's -98.19%.
On 5-year performance, USO leads with 19.21% vs -37.77% for ETCG. On fees, USO is cheaper at 0.86% per year. On volatility, ETCG has been the lower-risk option at 9.74%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, USO has performed better with a 19.21% return vs -37.77%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
USO is cheaper with a 0.86% expense ratio, compared with 2.50% for ETCG.
ETCG and USO have nearly identical dividend yields, around 0.00%.
ETCG is categorized as Cryptocurrency, while USO is Oil & Gas. ETCG tracks Ethereum Classic (ETC), while USO tracks Front Month Light Sweet Crude Oil. They also come from different issuers: Grayscale and USCF. Their fees differ too: 2.50% for ETCG and 0.86% for USO.
USO currently has the higher Sharpe Ratio (1.11 vs -1.17), 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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