GMEU vs. USO

Last updated Jun 5, 2026

GMEU (T-Rex 2X Long GME Daily Target ETF) and USO (United States Oil Fund LP) are both exchange-traded funds - GMEU is a Leveraged Equities fund actively managed by T-Rex, while USO is a Oil & Gas fund tracking the Front Month Light Sweet Crude Oil. GMEU is actively managed, while USO is passively managed. Over the past year, GMEU returned -68.74% vs 97.20% for USO. At a correlation of -0.08, they often move in opposite directions. GMEU charges 1.50%/yr vs 0.86%/yr for USO.

Performance

GMEU vs. USO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in T-Rex 2X Long GME Daily Target ETF (GMEU) and United States Oil Fund LP (USO). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, GMEU achieves a -0.34% return, which is significantly lower than USO's 97.72% return.

GMEU

• 1D: 0.12%
• 1M: -18.73%
• YTD: -0.34%
• 6M: -26.25%
• 1Y: -68.74%
• 3Y*: —
• 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%

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

GMEU vs. USO - Yearly Performance Comparison

	2026 (YTD)	2025
GMEU T-Rex 2X Long GME Daily Target ETF	-0.34%	-65.56%
USO United States Oil Fund LP	97.72%	5.03%

Correlation

The correlation between GMEU and USO is -0.10, 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	-0.10
Correlation (All Time) Calculated using the full available price history since Apr 30, 2025	-0.08

Return for Risk

GMEU vs. USO — Risk / Return Rank

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

GMEU

GMEU Risk / Return Rank: 2
GMEU Sharpe Ratio Rank: 3
GMEU Sortino Ratio Rank: 3
GMEU Omega Ratio Rank: 2
GMEU Calmar Ratio Rank: 1
GMEU Martin Ratio Rank: 3

USO

USO Risk / Return Rank: 66
USO Sharpe Ratio Rank: 68
USO Sortino Ratio Rank: 61
USO Omega Ratio Rank: 62
USO Calmar Ratio Rank: 86
USO Martin Ratio Rank: 54

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.

GMEU vs. USO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for T-Rex 2X Long GME Daily Target ETF (GMEU) 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.

	GMEU	USO	Difference
Sharpe ratio: Return per unit of total volatility	-0.81	2.21	-3.02
Sortino ratio: Return per unit of downside risk	-1.12	2.80	-3.92
Omega ratio: Gain probability vs. loss probability	0.85	1.37	-0.52
Calmar ratio: Return relative to maximum drawdown	-0.95	4.79	-5.74
Martin ratio: Return relative to average drawdown	-1.20	9.00	-10.20
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

GMEU vs. USO - Sharpe Ratio Comparison

The current GMEU Sharpe Ratio is -0.81, which is lower than the USO Sharpe Ratio of 2.21. The chart below compares the historical Sharpe Ratios of GMEU 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.

Sharpe Ratios by Period

	GMEU	USO	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.81	2.21	-3.02
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	-0.70	-0.18	-0.52

Drawdowns

GMEU vs. USO - Drawdown Comparison

The maximum GMEU drawdown since its inception was -80.43%, smaller than the maximum USO drawdown of -98.19%. Use the drawdown chart below to compare losses from any high point for GMEU and USO.

Drawdown Indicators

	GMEU	USO	Difference
Max Drawdown Largest peak-to-trough decline	-80.43%	-98.19%	+17.76%
Max Drawdown (1Y) Largest decline over 1 year	-72.75%	-20.39%	-52.36%
Max Drawdown (3Y) Largest decline over 3 years	—	-26.05%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-36.23%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-86.75%	—
Current Drawdown Current decline from peak	-77.91%	-85.45%	+7.54%
Average Drawdown Average peak-to-trough decline	-63.24%	-75.30%	+12.06%
Ulcer Index Depth and duration of drawdowns from previous peaks	57.19%	10.84%	+46.35%

Volatility

GMEU vs. USO - Volatility Comparison

T-Rex 2X Long GME Daily Target ETF (GMEU) has a higher volatility of 24.54% compared to United States Oil Fund LP (USO) at 14.97%. This indicates that GMEU'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.

Volatility by Period

	GMEU	USO	Difference
Volatility (1M) Calculated over the trailing 1-month period	24.54%	14.97%	+9.57%
Volatility (6M) Calculated over the trailing 6-month period	57.61%	38.35%	+19.26%
Volatility (1Y) Calculated over the trailing 1-year period	85.15%	44.32%	+40.83%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	89.79%	36.09%	+53.70%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	89.79%	39.00%	+50.79%

GMEU vs. USO - Expense Ratio Comparison

GMEU has a 1.50% expense ratio, which is higher than USO's 0.86% expense ratio.

Dividends

GMEU vs. USO - Dividend Comparison

Neither GMEU nor USO has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both GMEU and USO in my portfolio?

GMEU and USO have a correlation of -0.10, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, GMEU or USO?

GMEU has higher volatility (24.54%) compared to USO (14.97%). In terms of maximum drawdown, GMEU dropped -80.43% vs USO's -98.19%.

Which ETF is better, GMEU or USO?

On 1-year performance, USO leads with 97.20% vs -68.74% for GMEU. 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.

Which ETF has performed better, GMEU or USO?

Over the 1-year period, USO has performed better with a 97.20% return vs -68.74%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, GMEU or USO?

USO is cheaper with a 0.86% expense ratio, compared with 1.50% for GMEU.

Which ETF pays a higher dividend yield, GMEU or USO?

GMEU and USO have nearly identical dividend yields, around 0.00%.

What is the main difference between GMEU and USO?

GMEU is categorized as Leveraged Equities, while USO is Oil & Gas. They also come from different issuers: T-Rex and USCF. Their fees differ too: 1.50% for GMEU and 0.86% for USO.

Which has better risk-adjusted returns?

USO currently has the higher Sharpe Ratio (2.21 vs -0.81), 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.