ETU vs. USO

Last updated Jun 5, 2026

ETU (T-Rex 2X Long Ether Daily Target ETF) and USO (United States Oil Fund LP) are both exchange-traded funds - ETU is a Leveraged Cryptocurrency fund actively managed by REX Shares, while USO is a Oil & Gas fund tracking the Front Month Light Sweet Crude Oil. ETU is actively managed, while USO is passively managed. Over the past year, ETU returned -75.56% vs 97.20% for USO. At a correlation of -0.01, they often move in opposite directions. ETU charges 0.95%/yr vs 0.86%/yr for USO.

Performance

ETU vs. USO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in T-Rex 2X Long Ether Daily Target ETF (ETU) and United States Oil Fund LP (USO). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, ETU achieves a -72.00% return, which is significantly lower than USO's 97.72% return.

ETU

• 1D: -2.42%
• 1M: -45.33%
• YTD: -72.00%
• 6M: -76.01%
• 1Y: -75.56%
• 3Y*: —
• 5Y*: —
• 10Y*: —

USO

• 1D: -2.92%
• 1M: -5.15%
• YTD: 97.72%
• 6M: 91.54%
• 1Y: 97.20%
• 3Y*: 28.78%
• 5Y*: 23.67%
• 10Y*: 3.57%

*Multi-year figures are annualized to reflect compound growth (CAGR)

ETU vs. USO - Yearly Performance Comparison

	2026 (YTD)	2025	2024
ETU T-Rex 2X Long Ether Daily Target ETF	-72.00%	-62.44%	50.47%
USO United States Oil Fund LP	97.72%	-8.46%	3.41%

Correlation

The correlation between ETU and USO is -0.10, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	-0.10
Correlation (All Time) Calculated using the full available price history since Oct 25, 2024	-0.01

Return for Risk

ETU vs. USO — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

ETU

ETU Risk / Return Rank: 4
ETU Sharpe Ratio Rank: 4
ETU Sortino Ratio Rank: 5
ETU Omega Ratio Rank: 5
ETU Calmar Ratio Rank: 2
ETU Martin Ratio Rank: 3

USO

USO Risk / Return Rank: 66
USO Sharpe Ratio Rank: 68
USO Sortino Ratio Rank: 61
USO Omega Ratio Rank: 62
USO Calmar Ratio Rank: 86
USO Martin Ratio Rank: 54

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

ETU vs. USO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for T-Rex 2X Long Ether Daily Target ETF (ETU) 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.

	ETU	USO	Difference
Sharpe ratio: Return per unit of total volatility	-0.56	2.21	-2.76
Sortino ratio: Return per unit of downside risk	-0.50	2.80	-3.30
Omega ratio: Gain probability vs. loss probability	0.94	1.37	-0.42
Calmar ratio: Return relative to maximum drawdown	-0.83	4.79	-5.62
Martin ratio: Return relative to average drawdown	-1.21	9.00	-10.21
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

ETU vs. USO - Sharpe Ratio Comparison

The current ETU Sharpe Ratio is -0.56, which is lower than the USO Sharpe Ratio of 2.21. The chart below compares the historical Sharpe Ratios of ETU and USO, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	ETU	USO	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.56	2.21	-2.76
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.66	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.09	—
Sharpe Ratio (All Time) Calculated using the full available price history	-0.47	-0.18	-0.29

Drawdowns

ETU vs. USO - Drawdown Comparison

The maximum ETU drawdown since its inception was -93.19%, smaller than the maximum USO drawdown of -98.19%. Use the drawdown chart below to compare losses from any high point for ETU and USO.

Drawdown Indicators

	ETU	USO	Difference
Max Drawdown Largest peak-to-trough decline	-93.19%	-98.19%	+5.00%
Max Drawdown (1Y) Largest decline over 1 year	-91.69%	-20.39%	-71.30%
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 Drawdown Current decline from peak	-93.19%	-85.45%	-7.74%
Average Drawdown Average peak-to-trough decline	-62.47%	-75.30%	+12.83%
Ulcer Index Depth and duration of drawdowns from previous peaks	62.34%	10.84%	+51.50%

Volatility

ETU vs. USO - Volatility Comparison

T-Rex 2X Long Ether Daily Target ETF (ETU) has a higher volatility of 20.14% compared to United States Oil Fund LP (USO) at 14.97%. This indicates that ETU's price experiences larger fluctuations and is considered to be riskier than USO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	ETU	USO	Difference
Volatility (1M) Calculated over the trailing 1-month period	20.14%	14.97%	+5.17%
Volatility (6M) Calculated over the trailing 6-month period	91.27%	38.35%	+52.92%
Volatility (1Y) Calculated over the trailing 1-year period	136.32%	44.32%	+92.00%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	145.77%	36.09%	+109.68%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	145.77%	39.00%	+106.77%

ETU vs. USO - Expense Ratio Comparison

ETU has a 0.95% expense ratio, which is higher than USO's 0.86% expense ratio.

Dividends

ETU vs. USO - Dividend Comparison

ETU's dividend yield for the trailing twelve months is around 0.01%, while USO has not paid dividends to shareholders.

Position	TTM	2025	2024
ETU T-Rex 2X Long Ether Daily Target ETF	0.01%	0.00%	0.05%
USO United States Oil Fund LP	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both ETU and USO in my portfolio?

ETU and USO have a correlation of -0.10, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, ETU or USO?

ETU has higher volatility (20.14%) compared to USO (14.97%). In terms of maximum drawdown, ETU dropped -93.19% vs USO's -98.19%.

Which ETF is better, ETU or USO?

On 1-year performance, USO leads with 97.20% vs -75.56% for ETU. On fees, USO is cheaper at 0.86% per year. On volatility, USO has been the lower-risk option at 14.97%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, ETU or USO?

Over the 1-year period, USO has performed better with a 97.20% return vs -75.56%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, ETU or USO?

USO is cheaper with a 0.86% expense ratio, compared with 0.95% for ETU.

Which ETF pays a higher dividend yield, ETU or USO?

ETU has the higher dividend yield at 0.01%, compared with 0.00% for USO.

What is the main difference between ETU and USO?

ETU is categorized as Leveraged Cryptocurrency, while USO is Oil & Gas. They also come from different issuers: REX Shares and USCF. Their fees differ too: 0.95% for ETU and 0.86% for USO.

Which has better risk-adjusted returns?

USO currently has the higher Sharpe Ratio (2.21 vs -0.56), 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.