FLYU vs. USO
FLYU (MicroSectors Travel 3X Leveraged ETNs) and USO (United States Oil Fund LP) are both exchange-traded funds - FLYU is a Leveraged Equities fund tracking the MerQube MicroSectors U.S. Travel Index, while USO is a Oil & Gas fund tracking the Front Month Light Sweet Crude Oil. Both are passively managed. Over the past 3 years, FLYU returned 10.52%/yr vs 28.78%/yr for USO. At a correlation of -0.00, they often move in opposite directions. FLYU charges 0.95%/yr vs 0.86%/yr for USO.
Performance
FLYU vs. USO - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, FLYU achieves a -20.70% return, which is significantly lower than USO's 97.72% return.
FLYU
- 1D
- 2.09%
- 1M
- 12.82%
- YTD
- -20.70%
- 6M
- -12.97%
- 1Y
- -0.23%
- 3Y*
- 10.52%
- 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%
FLYU vs. USO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
FLYU MicroSectors Travel 3X Leveraged ETNs | -20.70% | -2.29% | 33.00% | 111.16% | -17.79% |
USO United States Oil Fund LP | 97.72% | -8.46% | 13.35% | -4.94% | -13.32% |
Correlation
The correlation between FLYU and USO is -0.38, 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 | -0.38 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.14 |
Correlation (All Time) Calculated using the full available price history since Jun 23, 2022 | -0.00 |
Over the past year, the inverse relationship between FLYU and USO has strengthened: their correlation has moved from -0.00 to -0.38, meaning they now move in opposite directions more often than their long-term average.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
FLYU vs. USO — Risk / Return Rank
FLYU
USO
FLYU vs. USO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for MicroSectors Travel 3X Leveraged ETNs (FLYU) 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.
| FLYU | USO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.21 | ||
| Sortino ratioReturn per unit of downside risk | -2.25 | ||
| Omega ratioGain probability vs. loss probability | 1.06 | 1.37 | -0.31 |
| Calmar ratioReturn relative to maximum drawdown | -0.00 | 4.79 | -4.80 |
| Martin ratioReturn relative to average drawdown | -0.01 | 9.00 | -9.01 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
Loading charts...
Sharpe Ratios by Period
| FLYU | USO | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -0.00 | 2.21 | -2.21 |
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 | 0.19 | -0.18 | +0.37 |
Drawdowns
FLYU vs. USO - Drawdown Comparison
The maximum FLYU drawdown since its inception was -69.00%, smaller than the maximum USO drawdown of -98.19%. Use the drawdown chart below to compare losses from any high point for FLYU and USO.
Loading charts...
Drawdown Indicators
| FLYU | USO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -69.00% | -98.19% | +29.19% |
Max Drawdown (1Y)Largest decline over 1 year | -52.33% | -20.39% | -31.94% |
Max Drawdown (3Y)Largest decline over 3 years | -69.00% | -26.05% | -42.95% |
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 | -37.10% | -85.45% | +48.35% |
Average DrawdownAverage peak-to-trough decline | -26.48% | -75.30% | +48.82% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 24.60% | 10.84% | +13.76% |
Volatility
FLYU vs. USO - Volatility Comparison
MicroSectors Travel 3X Leveraged ETNs (FLYU) has a higher volatility of 24.39% compared to United States Oil Fund LP (USO) at 14.97%. This indicates that FLYU'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.
Loading charts...
Volatility by Period
| FLYU | USO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 24.39% | 14.97% | +9.42% |
Volatility (6M)Calculated over the trailing 6-month period | 57.28% | 38.35% | +18.93% |
Volatility (1Y)Calculated over the trailing 1-year period | 73.74% | 44.32% | +29.42% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 83.12% | 36.09% | +47.03% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 83.12% | 39.00% | +44.12% |
FLYU vs. USO - Expense Ratio Comparison
FLYU has a 0.95% expense ratio, which is higher than USO's 0.86% expense ratio.
Dividends
FLYU vs. USO - Dividend Comparison
Neither FLYU nor USO has paid dividends to shareholders.
Frequently Asked Questions
FLYU and USO have a correlation of -0.38, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
FLYU has higher volatility (24.39%) compared to USO (14.97%). In terms of maximum drawdown, FLYU dropped -69.00% vs USO's -98.19%.
On 3-year performance, USO leads with 28.78% vs 10.52% for FLYU. 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.
Over the 3-year period, USO has performed better with a 28.78% return vs 10.52%. 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 0.95% for FLYU.
FLYU and USO have nearly identical dividend yields, around 0.00%.
FLYU is categorized as Leveraged Equities, while USO is Oil & Gas. FLYU tracks MerQube MicroSectors U.S. Travel Index, while USO tracks Front Month Light Sweet Crude Oil. They also come from different issuers: REX and USCF. Their fees differ too: 0.95% for FLYU and 0.86% for USO.
USO currently has the higher Sharpe Ratio (2.21 vs -0.00), 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.
Find the right allocation for FLYU and USO
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer