GREK vs. USO
GREK (Global X MSCI Greece ETF) and USO (United States Oil Fund LP) are both exchange-traded funds - GREK is a Emerging Markets Equities fund tracking the MSCI All Greece Select 25/50 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, GREK returned 17.36%/yr vs 5.64%/yr for USO. Their 0.16 correlation means their historical movements had little consistent relationship. GREK charges 0.56%/yr vs 0.86%/yr for USO.
Performance
GREK vs. USO - Performance Comparison
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Returns By Period
In the year-to-date period, GREK achieves a 22.60% return, which is significantly lower than USO's 86.77% return. Over the past 10 years, GREK has outperformed USO with an annualized return of 17.36%, while USO has yielded a comparatively lower 5.64% annualized return.
GREK
- 1D
- -0.62%
- 1M
- 5.48%
- 6M
- 9.57%
- YTD
- 22.60%
- 1Y
- 36.74%
- 3Y*
- 32.40%
- 5Y*
- 27.82%
- 10Y*
- 17.36%
- ALL TIME*
- 6.26%
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) |
|---|---|---|---|
| $9.46M | $9.35M | $7.83M | |
| $968.42M | $871.56M | $931.57M |
GREK vs. USO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
GREK Global X MSCI Greece ETF | 22.60% | 76.11% | 9.53% | 42.72% | 3.64% | 6.14% | -13.89% | 50.20% | -31.25% | 34.80% |
USO United States Oil Fund LP | 86.77% | -8.46% | 13.35% | -4.94% | 28.97% | 64.68% | -67.79% | 32.61% | -19.57% | 2.47% |
Correlation
The correlation between GREK and USO is -0.36, meaning they have often moved in opposite directions in the past. This relationship can weaken or reverse as market conditions change.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | -0.36 |
Correlation (3Y) Balances recent behavior with more history. | -0.13 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.01 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.12 |
Correlation (All Time) Calculated using the full available price history since Dec 8, 2011 | 0.16 |
The correlation between GREK and USO shifts across timeframes, from -0.36 (1 year) to 0.16 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
GREK vs. USO — Risk / Return Rank
GREK
USO
GREK vs. USO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Global X MSCI Greece ETF (GREK) 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.
| GREK | USO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.14 | ||
| Sortino ratioReturn per unit of downside risk | +0.26 | ||
| Omega ratioGain probability vs. loss probability | 1.27 | 1.25 | +0.02 |
| Calmar ratioReturn relative to maximum drawdown | 1.71 | 1.93 | -0.21 |
| Martin ratioReturn relative to average drawdown | 5.27 | 5.60 | -0.33 |
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Drawdowns
GREK vs. USO - Drawdown Comparison
The maximum GREK drawdown since its inception was -79.50%, smaller than the maximum USO drawdown of -98.19%. Use the drawdown chart below to compare losses from any high point for GREK and USO.
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Drawdown Indicators
| GREK | USO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -79.50% | -98.19% | +18.69% |
Max Drawdown (1Y)Largest decline over 1 year | -21.32% | -32.49% | +11.17% |
Max Drawdown (3Y)Largest decline over 3 years | -21.32% | -32.49% | +11.17% |
Max Drawdown (5Y)Largest decline over 5 years | -30.46% | -36.23% | +5.77% |
Max Drawdown (10Y)Largest decline over 10 years | -57.04% | -86.75% | +29.71% |
Current DrawdownCurrent decline from peak | -0.62% | -86.26% | +85.64% |
Average DrawdownAverage peak-to-trough decline | -44.86% | -75.38% | +30.52% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 6.92% | 12.03% | -5.11% |
Volatility
GREK vs. USO - Volatility Comparison
The current volatility for Global X MSCI Greece ETF (GREK) is 7.63%, while United States Oil Fund LP (USO) has a volatility of 17.73%. This indicates that GREK 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
| GREK | USO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 7.63% | 17.73% | -10.10% |
Volatility (6M)Calculated over the trailing 6-month period | 21.24% | 42.79% | -21.55% |
Volatility (1Y)Calculated over the trailing 1-year period | 24.67% | 46.91% | -22.24% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 24.49% | 37.06% | -12.57% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 28.85% | 39.29% | -10.44% |
GREK vs. USO - Expense Ratio Comparison
GREK has a 0.56% expense ratio, which is lower than USO's 0.86% expense ratio.
Dividends
GREK vs. USO - Dividend Comparison
GREK's dividend yield for the trailing twelve months is around 2.43%, while USO has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
GREK Global X MSCI Greece ETF | 2.43% | 3.46% | 4.63% | 2.61% | 2.82% | 2.16% | 2.62% | 2.25% | 2.41% | 2.13% | 1.95% | 1.52% |
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
GREK and USO have a correlation of -0.36, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
USO has higher volatility (17.73%) compared to GREK (7.63%). In terms of maximum drawdown, GREK dropped -79.50% vs USO's -98.19%.
On 10-year performance, GREK leads with 17.36% vs 5.64% for USO. On fees, GREK is cheaper at 0.56% per year. On volatility, GREK has been the lower-risk option at 7.63%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, GREK has performed better with a 17.36% return vs 5.64%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
GREK is cheaper with a 0.56% expense ratio, compared with 0.86% for USO.
GREK has the higher dividend yield at 2.43%, compared with 0.00% for USO.
GREK is categorized as Emerging Markets Equities, while USO is Oil & Gas. GREK tracks MSCI All Greece Select 25/50 Index, while USO tracks Front Month Light Sweet Crude Oil. They also come from different issuers: Global X and USCF. Their fees differ too: 0.56% for GREK and 0.86% for USO.
GREK currently has the higher Sharpe Ratio (1.48 vs 1.34), 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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