GLDB vs. USO
GLDB (Strategy Shares Gold-Hedged Bond ETF) and USO (United States Oil Fund LP) are both exchange-traded funds - GLDB is a Nontraditional Bonds fund tracking the Solactive Gold Backed Bond Index - Benchmark TR Gross, while USO is a Oil & Gas fund tracking the Front Month Light Sweet Crude Oil. Both are passively managed. Their -0.13 correlation means they have often moved in opposite directions in the past. GLDB charges 0.79%/yr vs 0.86%/yr for USO.
Performance
GLDB vs. USO - Performance Comparison
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Returns By Period
In the year-to-date period, GLDB achieves a -19.84% return, which is significantly lower than USO's 86.77% return.
GLDB
- 1D
- -2.39%
- 1M
- -1.34%
- 6M
- -24.53%
- YTD
- -19.84%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- —
USO
- 1D
- 1.33%
- 1M
- 24.23%
- 6M
- 62.44%
- YTD
- 86.77%
- 1Y
- 66.76%
- 3Y*
- 20.97%
- 5Y*
- 20.59%
- 10Y*
- 5.64%
- ALL TIME*
- -6.85%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $494.06K | $365.51K | $391.41K | |
| $968.42M | $871.56M | $931.57M |
GLDB vs. USO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
GLDB Strategy Shares Gold-Hedged Bond ETF | -19.84% | -3.56% |
USO United States Oil Fund LP | 86.77% | -5.64% |
Correlation
The correlation between GLDB and USO is -0.13, meaning they have often moved in opposite directions in the past. This relationship can weaken or reverse as market conditions change.
| Correlation | |
|---|---|
Correlation (All Time) Calculated using the full available price history since Oct 24, 2025 | -0.13 |
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Return for Risk
GLDB vs. USO — Risk / Return Rank
GLDB
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
USO
GLDB vs. USO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Strategy Shares Gold-Hedged Bond ETF (GLDB) 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.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| GLDB | USO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | — | 1.25 | — |
| Calmar ratioReturn relative to maximum drawdown | — | 1.93 | — |
| Martin ratioReturn relative to average drawdown | — | 5.60 | — |
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Drawdowns
GLDB vs. USO - Drawdown Comparison
The maximum GLDB drawdown since its inception was -38.30%, smaller than the maximum USO drawdown of -98.19%. Use the drawdown chart below to compare losses from any high point for GLDB and USO.
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Drawdown Indicators
| GLDB | USO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -38.30% | -98.19% | +59.89% |
Max Drawdown (1Y)Largest decline over 1 year | — | -32.49% | — |
Max Drawdown (3Y)Largest decline over 3 years | — | -32.49% | — |
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 | -36.21% | -86.26% | +50.05% |
Average DrawdownAverage peak-to-trough decline | -17.73% | -75.38% | +57.65% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | — | 12.03% | — |
Volatility
GLDB vs. USO - Volatility Comparison
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Volatility by Period
| GLDB | USO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | — | 17.73% | — |
Volatility (6M)Calculated over the trailing 6-month period | — | 42.79% | — |
Volatility (1Y)Calculated over the trailing 1-year period | 39.04% | 46.91% | -7.87% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 39.04% | 37.06% | +1.98% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 39.04% | 39.29% | -0.25% |
GLDB vs. USO - Expense Ratio Comparison
GLDB has a 0.79% expense ratio, which is lower than USO's 0.86% expense ratio.
Dividends
GLDB vs. USO - Dividend Comparison
GLDB's dividend yield for the trailing twelve months is around 0.24%, while USO has not paid dividends to shareholders.
| Position | TTM | 2025 |
|---|---|---|
GLDB Strategy Shares Gold-Hedged Bond ETF | 0.24% | 0.19% |
USO United States Oil Fund LP | 0.00% | 0.00% |
Frequently Asked Questions
GLDB and USO have a correlation of -0.13, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, GLDB is cheaper at 0.79% per year. The better choice depends on whether you care most about return, fees, risk, or income.
GLDB is cheaper with a 0.79% expense ratio, compared with 0.86% for USO.
GLDB has the higher dividend yield at 0.24%, compared with 0.00% for USO.
GLDB is categorized as Nontraditional Bonds, while USO is Oil & Gas. GLDB tracks Solactive Gold Backed Bond Index - Benchmark TR Gross, while USO tracks Front Month Light Sweet Crude Oil. They also come from different issuers: Strategy Shares and USCF. Their fees differ too: 0.79% for GLDB and 0.86% for USO.
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