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FV vs. USO
Performance
Return for Risk
Drawdowns
Volatility
Dividends

FV vs. USO

Last updated Jun 4, 2026

FV (First Trust Dorsey Wright Focus 5 ETF) and USO (United States Oil Fund LP) are both exchange-traded funds - FV is a Large Cap Growth Equities fund tracking the Dorsey Wright Focus Five Index, while USO is a Oil & Gas fund tracking the Front Month Light Sweet Crude Oil. Both are passively managed. Over the past 10 years, FV returned 13.45%/yr vs 4.07%/yr for USO. At a 0.22 correlation, their price movements are largely independent. FV charges 0.87%/yr vs 0.86%/yr for USO.

Performance

FV vs. USO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in First Trust Dorsey Wright Focus 5 ETF (FV) and United States Oil Fund LP (USO). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, FV achieves a 18.14% return, which is significantly lower than USO's 103.67% return. Over the past 10 years, FV has outperformed USO with an annualized return of 13.45%, while USO has yielded a comparatively lower 4.07% annualized return.

FV

1D
1.48%
1M
11.69%
YTD
18.14%
6M
18.84%
1Y
28.90%
3Y*
18.88%
5Y*
10.37%
10Y*
13.45%

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

FV vs. USO - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
FV
First Trust Dorsey Wright Focus 5 ETF		18.14%7.23%14.73%11.34%-3.93%21.63%28.36%25.73%-8.27%19.97%
USO
United States Oil Fund LP		103.67%-8.46%13.35%-4.94%28.97%64.68%-67.79%32.61%-19.57%2.47%

Correlation

The correlation between FV and USO is -0.25, 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

-0.25

Correlation (3Y)
Calculated over the trailing 3-year period

-0.04

Correlation (5Y)
Calculated over the trailing 5-year period

0.19

Correlation (10Y)
Calculated over the trailing 10-year period

0.23

Correlation (All Time)
Calculated using the full available price history since Mar 7, 2014

0.22

The correlation between FV and USO shifts across timeframes, from -0.25 (1 year) to 0.23 (10 years), reflecting how their relationship changes across market environments.

Compare stocks, funds, or ETFs

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First Trust Dorsey Wright Focus 5 ETF

United States Oil Fund LP

Often compared with FV:
FV vs. FVCFV vs. SYLDFV vs. SPYFV vs. PTLCFV vs. VSMVFV vs. MAFIXFV vs. DALI
Often compared with USO:
USO vs. XLEUSO vs. BNOUSO vs. UCOUSO vs. USLUSO vs. OILKUSO vs. DBOUSO vs. WTI

Return for Risk

FV vs. USO — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
FV
FV Risk / Return Rank: 5151
Overall Rank
FV Sharpe Ratio Rank: 5555
Sharpe Ratio Rank
FV Sortino Ratio Rank: 5454
Sortino Ratio Rank
FV Omega Ratio Rank: 5353
Omega Ratio Rank
FV Calmar Ratio Rank: 4444
Calmar Ratio Rank
FV Martin Ratio Rank: 4848
Martin Ratio Rank
USO
USO Risk / Return Rank: 6666
Overall Rank
USO Sharpe Ratio Rank: 6969
Sharpe Ratio Rank
USO Sortino Ratio Rank: 6060
Sortino Ratio Rank
USO Omega Ratio Rank: 6161
Omega Ratio Rank
USO Calmar Ratio Rank: 8787
Calmar Ratio Rank
USO Martin Ratio Rank: 5454
Martin Ratio Rank
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.

FV vs. USO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for First Trust Dorsey Wright Focus 5 ETF (FV) 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.

FVUSODifference
Sharpe ratioReturn per unit of total volatility
1.91
2.31

-0.40

Sortino ratioReturn per unit of downside risk
2.62
2.89

-0.28

Omega ratioGain probability vs. loss probability

1.33

1.38

-0.05

Calmar ratioReturn relative to maximum drawdown

2.16

5.01

-2.85

Martin ratioReturn relative to average drawdown

8.12

9.42

-1.30

Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

FV vs. USO - Sharpe Ratio Comparison

The current FV Sharpe Ratio is 1.91, which is comparable to the USO Sharpe Ratio of 2.31. The chart below compares the historical Sharpe Ratios of FV 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.

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Sharpe Ratios by Period

FVUSODifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

1.91

2.31

-0.40

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.50

0.68

-0.18

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.63

0.10

+0.53

Sharpe Ratio (All Time)

Calculated using the full available price history

0.58

-0.18

+0.75

Drawdowns

FV vs. USO - Drawdown Comparison

The maximum FV drawdown since its inception was -34.04%, smaller than the maximum USO drawdown of -98.19%. Use the drawdown chart below to compare losses from any high point for FV and USO.

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Drawdown Indicators

FVUSODifference

Max Drawdown

Largest peak-to-trough decline

-34.04%

-98.19%

+64.15%

Max Drawdown (1Y)

Largest decline over 1 year

-13.45%

-20.39%

+6.94%

Max Drawdown (3Y)

Largest decline over 3 years

-23.08%

-26.05%

+2.97%

Max Drawdown (5Y)

Largest decline over 5 years

-23.08%

-36.23%

+13.15%

Max Drawdown (10Y)

Largest decline over 10 years

-34.04%

-86.75%

+52.71%

Current Drawdown

Current decline from peak

0.00%

-85.01%

+85.01%

Average Drawdown

Average peak-to-trough decline

-5.80%

-75.30%

+69.50%

Ulcer Index

Depth and duration of drawdowns from previous peaks

3.57%

10.82%

-7.25%

Volatility

FV vs. USO - Volatility Comparison

The current volatility for First Trust Dorsey Wright Focus 5 ETF (FV) is 4.25%, while United States Oil Fund LP (USO) has a volatility of 14.87%. This indicates that FV 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

FVUSODifference

Volatility (1M)

Calculated over the trailing 1-month period

4.25%

14.87%

-10.62%

Volatility (6M)

Calculated over the trailing 6-month period

12.54%

38.23%

-25.69%

Volatility (1Y)

Calculated over the trailing 1-year period

15.22%

44.20%

-28.98%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

20.76%

36.06%

-15.30%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

21.42%

39.00%

-17.58%

FV vs. USO - Expense Ratio Comparison

FV has a 0.87% expense ratio, which is higher than USO's 0.86% expense ratio.

Dividends

FV vs. USO - Dividend Comparison

FV's dividend yield for the trailing twelve months is around 0.52%, while USO has not paid dividends to shareholders.

PositionTTM20252024202320222021202020192018201720162015
FV
First Trust Dorsey Wright Focus 5 ETF		0.52%0.63%0.14%0.47%1.38%0.11%0.06%0.56%0.19%0.67%0.95%0.14%
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%0.00%

Frequently Asked Questions

FV and USO have a correlation of -0.25, 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 FV (4.25%). In terms of maximum drawdown, FV dropped -34.04% vs USO's -98.19%.

On 10-year performance, FV leads with 13.45% vs 4.07% for USO. On fees, USO is cheaper at 0.86% per year. On volatility, FV has been the lower-risk option at 4.25%. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 10-year period, FV has performed better with a 13.45% return vs 4.07%. 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 0.87% for FV.

FV has the higher dividend yield at 0.52%, compared with 0.00% for USO.

FV is categorized as Large Cap Growth Equities, while USO is Oil & Gas. FV tracks Dorsey Wright Focus Five Index, while USO tracks Front Month Light Sweet Crude Oil. They also come from different issuers: First Trust and USCF. Their fees differ too: 0.87% for FV and 0.86% for USO.

USO currently has the higher Sharpe Ratio (2.31 vs 1.91), 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.

Portfolio Optimizer

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