FTXN vs. USO
FTXN (First Trust Nasdaq Oil & Gas ETF) and USO (United States Oil Fund LP) are both exchange-traded funds - FTXN is a Energy Equities fund tracking the Nasdaq U.S. Smart Oil & Gas Index, while USO is a Oil & Gas fund tracking the Front Month Light Sweet Crude Oil. Both are passively managed. Over the past 5 years, FTXN returned 17.77%/yr vs 23.67%/yr for USO. A 0.57 correlation means they provide meaningful diversification when combined. FTXN charges 0.60%/yr vs 0.86%/yr for USO.
Performance
FTXN vs. USO - Performance Comparison
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Returns By Period
In the year-to-date period, FTXN achieves a 32.82% return, which is significantly lower than USO's 97.72% return.
FTXN
- 1D
- 0.19%
- 1M
- -2.34%
- YTD
- 32.82%
- 6M
- 27.63%
- 1Y
- 42.55%
- 3Y*
- 16.12%
- 5Y*
- 17.77%
- 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%
FTXN vs. USO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
FTXN First Trust Nasdaq Oil & Gas ETF | 32.82% | -0.17% | 4.06% | 4.91% | 47.45% | 69.21% | -28.10% | 3.20% | -20.99% | -2.29% |
USO United States Oil Fund LP | 97.72% | -8.46% | 13.35% | -4.94% | 28.97% | 64.68% | -67.79% | 32.61% | -19.57% | 2.47% |
Correlation
The correlation between FTXN and USO is 0.65, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.65 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.63 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.65 |
Correlation (All Time) Calculated using the full available price history since Sep 26, 2016 | 0.57 |
The correlation between FTXN and USO has been stable across timeframes, ranging from 0.57 to 0.65 - a consistent structural relationship.
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Return for Risk
FTXN vs. USO — Risk / Return Rank
FTXN
USO
FTXN vs. USO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for First Trust Nasdaq Oil & Gas ETF (FTXN) 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.
| FTXN | USO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.33 | ||
| Sortino ratioReturn per unit of downside risk | -0.37 | ||
| Omega ratioGain probability vs. loss probability | 1.30 | 1.37 | -0.07 |
| Calmar ratioReturn relative to maximum drawdown | 3.15 | 4.79 | -1.65 |
| Martin ratioReturn relative to average drawdown | 8.77 | 9.00 | -0.22 |
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
| FTXN | USO | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.87 | 2.21 | -0.33 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.60 | 0.66 | -0.06 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.09 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.28 | -0.18 | +0.46 |
Drawdowns
FTXN vs. USO - Drawdown Comparison
The maximum FTXN drawdown since its inception was -73.49%, smaller than the maximum USO drawdown of -98.19%. Use the drawdown chart below to compare losses from any high point for FTXN and USO.
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Drawdown Indicators
| FTXN | USO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -73.49% | -98.19% | +24.70% |
Max Drawdown (1Y)Largest decline over 1 year | -13.59% | -20.39% | +6.80% |
Max Drawdown (3Y)Largest decline over 3 years | -26.96% | -26.05% | -0.91% |
Max Drawdown (5Y)Largest decline over 5 years | -29.97% | -36.23% | +6.26% |
Max Drawdown (10Y)Largest decline over 10 years | — | -86.75% | — |
Current DrawdownCurrent decline from peak | -7.29% | -85.45% | +78.16% |
Average DrawdownAverage peak-to-trough decline | -19.23% | -75.30% | +56.07% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.86% | 10.84% | -5.98% |
Volatility
FTXN vs. USO - Volatility Comparison
The current volatility for First Trust Nasdaq Oil & Gas ETF (FTXN) is 8.95%, while United States Oil Fund LP (USO) has a volatility of 14.97%. This indicates that FTXN 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
| FTXN | USO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 8.95% | 14.97% | -6.02% |
Volatility (6M)Calculated over the trailing 6-month period | 17.82% | 38.35% | -20.53% |
Volatility (1Y)Calculated over the trailing 1-year period | 22.92% | 44.32% | -21.40% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 29.67% | 36.09% | -6.42% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 31.80% | 39.00% | -7.20% |
FTXN vs. USO - Expense Ratio Comparison
FTXN has a 0.60% expense ratio, which is lower than USO's 0.86% expense ratio.
Dividends
FTXN vs. USO - Dividend Comparison
FTXN's dividend yield for the trailing twelve months is around 2.04%, while USO has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
FTXN First Trust Nasdaq Oil & Gas ETF | 2.04% | 2.83% | 2.51% | 3.41% | 2.26% | 1.04% | 1.76% | 2.72% | 2.16% | 1.78% | 0.20% |
USO United States Oil Fund LP | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
FTXN and USO have a correlation of 0.65, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
USO has higher volatility (14.97%) compared to FTXN (8.95%). In terms of maximum drawdown, FTXN dropped -73.49% vs USO's -98.19%.
On 5-year performance, USO leads with 23.67% vs 17.77% for FTXN. On fees, FTXN is cheaper at 0.60% per year. On volatility, FTXN has been the lower-risk option at 8.95%. 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 23.67% return vs 17.77%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
FTXN is cheaper with a 0.60% expense ratio, compared with 0.86% for USO.
FTXN has the higher dividend yield at 2.04%, compared with 0.00% for USO.
FTXN is categorized as Energy Equities, while USO is Oil & Gas. FTXN tracks Nasdaq U.S. Smart Oil & Gas Index, while USO tracks Front Month Light Sweet Crude Oil. They also come from different issuers: First Trust and USCF. Their fees differ too: 0.60% for FTXN and 0.86% for USO.
USO currently has the higher Sharpe Ratio (2.21 vs 1.87), 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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