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 -35.81%/yr vs 24.41%/yr for USO. At a 0.06 correlation, their price movements are largely independent. 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 -35.40% return, which is significantly lower than USO's 103.67% return.
ETCG
- 1D
- 1.15%
- 1M
- -6.17%
- YTD
- -35.40%
- 6M
- -44.65%
- 1Y
- -51.42%
- 3Y*
- -10.63%
- 5Y*
- -35.81%
- 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%
ETCG vs. USO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
ETCG Grayscale Ethereum Classic Trust (ETC) | -35.40% | -39.78% | -9.57% | 289.22% | -80.45% | 145.11% | -10.70% | 7.52% | -75.82% |
USO United States Oil Fund LP | 103.67% | -8.46% | 13.35% | -4.94% | 28.97% | 64.68% | -67.79% | 32.61% | -32.96% |
Correlation
The correlation between ETCG and USO is -0.15, 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 | -0.15 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.02 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.06 |
Correlation (All Time) Calculated using the full available price history since May 11, 2018 | 0.06 |
The correlation between ETCG and USO shifts across timeframes, from -0.15 (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.
| ETCG | USO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -3.14 | ||
| Sortino ratioReturn per unit of downside risk | -4.21 | ||
| Omega ratioGain probability vs. loss probability | 0.86 | 1.38 | -0.52 |
| Calmar ratioReturn relative to maximum drawdown | -0.78 | 5.01 | -5.78 |
| Martin ratioReturn relative to average drawdown | -1.19 | 9.42 | -10.60 |
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
| ETCG | USO | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -0.83 | 2.31 | -3.14 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.38 | 0.68 | -1.06 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.10 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | -0.18 | -0.18 | -0.01 |
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 | -66.46% | -20.39% | -46.07% |
Max Drawdown (3Y)Largest decline over 3 years | -78.12% | -26.05% | -52.07% |
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 | -95.33% | -85.01% | -10.32% |
Average DrawdownAverage peak-to-trough decline | -82.67% | -75.30% | -7.37% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 43.41% | 10.82% | +32.59% |
Volatility
ETCG vs. USO - Volatility Comparison
The current volatility for Grayscale Ethereum Classic Trust (ETC) (ETCG) is 11.37%, while United States Oil Fund LP (USO) has a volatility of 14.87%. 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 | 11.37% | 14.87% | -3.50% |
Volatility (6M)Calculated over the trailing 6-month period | 36.81% | 38.23% | -1.42% |
Volatility (1Y)Calculated over the trailing 1-year period | 62.03% | 44.20% | +17.83% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 94.03% | 36.06% | +57.97% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 115.33% | 39.00% | +76.33% |
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 -0.15, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
USO has higher volatility (14.87%) compared to ETCG (11.37%). In terms of maximum drawdown, ETCG dropped -96.59% vs USO's -98.19%.
On 5-year performance, USO leads with 24.41% vs -35.81% for ETCG. On fees, USO is cheaper at 0.86% per year. On volatility, ETCG has been the lower-risk option at 11.37%. 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 24.41% return vs -35.81%. 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 (2.31 vs -0.83), 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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