EVMT vs. USE

Last updated Jun 4, 2026

EVMT (Invesco Electric Vehicle Metals Commodity Strategy No K-1 ETF) and USE (USCF Energy Commodity Strategy Absolute Return Fund) are both Commodities funds. Both are actively managed. Over the past 3 years, EVMT returned 4.71%/yr vs 17.85%/yr for USE. At a 0.09 correlation, their price movements are largely independent. EVMT charges 0.59%/yr vs 0.79%/yr for USE.

Performance

EVMT vs. USE - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco Electric Vehicle Metals Commodity Strategy No K-1 ETF (EVMT) and USCF Energy Commodity Strategy Absolute Return Fund (USE). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, EVMT achieves a 13.45% return, which is significantly lower than USE's 48.69% return.

EVMT

• 1D: -1.66%
• 1M: 2.45%
• YTD: 13.45%
• 6M: 22.53%
• 1Y: 41.86%
• 3Y*: 4.71%
• 5Y*: —
• 10Y*: —

USE

• 1D: 2.75%
• 1M: -2.96%
• YTD: 48.69%
• 6M: 51.72%
• 1Y: 41.25%
• 3Y*: 17.85%
• 5Y*: —
• 10Y*: —

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

EVMT vs. USE - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
EVMT Invesco Electric Vehicle Metals Commodity Strategy No K-1 ETF	13.45%	30.61%	-10.50%	-17.67%
USE USCF Energy Commodity Strategy Absolute Return Fund	48.69%	-14.97%	22.58%	9.98%

Correlation

The correlation between EVMT and USE is -0.11, 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	-0.11
Correlation (3Y) Calculated over the trailing 3-year period	0.08
Correlation (All Time) Calculated using the full available price history since May 5, 2023	0.09

The correlation between EVMT and USE shifts across timeframes, from -0.11 (1 year) to 0.09 (all time), reflecting how their relationship changes across market environments.

Return for Risk

EVMT vs. USE — Risk / Return Rank

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

EVMT

EVMT Risk / Return Rank: 85
EVMT Sharpe Ratio Rank: 85
EVMT Sortino Ratio Rank: 84
EVMT Omega Ratio Rank: 84
EVMT Calmar Ratio Rank: 89
EVMT Martin Ratio Rank: 85

USE

USE Risk / Return Rank: 33
USE Sharpe Ratio Rank: 37
USE Sortino Ratio Rank: 38
USE Omega Ratio Rank: 35
USE Calmar Ratio Rank: 32
USE Martin Ratio Rank: 24

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.

EVMT vs. USE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco Electric Vehicle Metals Commodity Strategy No K-1 ETF (EVMT) and USCF Energy Commodity Strategy Absolute Return Fund (USE). 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.

	EVMT	USE	Difference
Sharpe ratio: Return per unit of total volatility	2.79	1.32	+1.47
Sortino ratio: Return per unit of downside risk	3.72	1.94	+1.78
Omega ratio: Gain probability vs. loss probability	1.51	1.23	+0.27
Calmar ratio: Return relative to maximum drawdown	5.28	1.58	+3.70
Martin ratio: Return relative to average drawdown	17.86	3.10	+14.76
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

EVMT vs. USE - Sharpe Ratio Comparison

The current EVMT Sharpe Ratio is 2.79, which is higher than the USE Sharpe Ratio of 1.32. The chart below compares the historical Sharpe Ratios of EVMT and USE, 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

	EVMT	USE	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.79	1.32	+1.47
Sharpe Ratio (All Time) Calculated using the full available price history	-0.26	0.70	-0.97

Drawdowns

EVMT vs. USE - Drawdown Comparison

The maximum EVMT drawdown since its inception was -48.34%, which is greater than USE's maximum drawdown of -26.24%. Use the drawdown chart below to compare losses from any high point for EVMT and USE.

Drawdown Indicators

	EVMT	USE	Difference
Max Drawdown Largest peak-to-trough decline	-48.34%	-26.24%	-22.10%
Max Drawdown (1Y) Largest decline over 1 year	-7.96%	-26.24%	+18.28%
Max Drawdown (3Y) Largest decline over 3 years	-29.38%	-26.24%	-3.14%
Current Drawdown Current decline from peak	-21.69%	-4.44%	-17.25%
Average Drawdown Average peak-to-trough decline	-34.74%	-7.96%	-26.78%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.35%	13.32%	-10.97%

Volatility

EVMT vs. USE - Volatility Comparison

The current volatility for Invesco Electric Vehicle Metals Commodity Strategy No K-1 ETF (EVMT) is 4.51%, while USCF Energy Commodity Strategy Absolute Return Fund (USE) has a volatility of 11.11%. This indicates that EVMT experiences smaller price fluctuations and is considered to be less risky than USE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	EVMT	USE	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.51%	11.11%	-6.60%
Volatility (6M) Calculated over the trailing 6-month period	13.47%	25.86%	-12.39%
Volatility (1Y) Calculated over the trailing 1-year period	15.09%	31.46%	-16.37%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	20.51%	27.06%	-6.55%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	20.51%	27.06%	-6.55%

EVMT vs. USE - Expense Ratio Comparison

EVMT has a 0.59% expense ratio, which is lower than USE's 0.79% expense ratio.

Dividends

EVMT vs. USE - Dividend Comparison

EVMT's dividend yield for the trailing twelve months is around 10.40%, more than USE's 2.06% yield.

Position	TTM	2025	2024	2023	2022
EVMT Invesco Electric Vehicle Metals Commodity Strategy No K-1 ETF	10.40%	11.80%	3.62%	5.49%	0.86%
USE USCF Energy Commodity Strategy Absolute Return Fund	2.06%	3.06%	38.65%	4.83%	0.00%

Frequently Asked Questions

Can I hold both EVMT and USE in my portfolio?

EVMT and USE have a correlation of -0.11, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, EVMT or USE?

USE has higher volatility (11.11%) compared to EVMT (4.51%). In terms of maximum drawdown, EVMT dropped -48.34% vs USE's -26.24%.

Which ETF is better, EVMT or USE?

On 3-year performance, USE leads with 17.85% vs 4.71% for EVMT. On fees, EVMT is cheaper at 0.59% per year. On volatility, EVMT has been the lower-risk option at 4.51%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, EVMT or USE?

Over the 3-year period, USE has performed better with a 17.85% return vs 4.71%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, EVMT or USE?

EVMT is cheaper with a 0.59% expense ratio, compared with 0.79% for USE.

Which ETF pays a higher dividend yield, EVMT or USE?

EVMT has the higher dividend yield at 10.40%, compared with 2.06% for USE.

What is the main difference between EVMT and USE?

They also come from different issuers: Invesco and USCF. Their fees differ too: 0.59% for EVMT and 0.79% for USE.

Which has better risk-adjusted returns?

EVMT currently has the higher Sharpe Ratio (2.79 vs 1.32), 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.