GXTG vs. USL

Last updated Jun 4, 2026

GXTG (Global X Thematic Growth ETF) and USL (United States 12 Month Oil Fund LP) are both exchange-traded funds - GXTG is a Global Equities fund tracking the Solactive Thematic Growth Index, while USL is a Oil & Gas fund tracking the 12 Month Light Sweet Crude Oil. Both are passively managed. Over the past 5 years, GXTG returned -7.87%/yr vs 17.41%/yr for USL. At a 0.13 correlation, their price movements are largely independent. GXTG charges 0.50%/yr vs 0.88%/yr for USL.

Performance

GXTG vs. USL - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Global X Thematic Growth ETF (GXTG) and United States 12 Month Oil Fund LP (USL). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, GXTG achieves a 25.21% return, which is significantly lower than USL's 63.07% return.

GXTG

• 1D: -2.35%
• 1M: 8.75%
• YTD: 25.21%
• 6M: 20.12%
• 1Y: 22.25%
• 3Y*: 6.51%
• 5Y*: -7.87%
• 10Y*: —

USL

• 1D: 1.55%
• 1M: -1.61%
• YTD: 63.07%
• 6M: 59.66%
• 1Y: 57.86%
• 3Y*: 18.42%
• 5Y*: 17.41%
• 10Y*: 10.91%

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

GXTG vs. USL - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
GXTG Global X Thematic Growth ETF	25.21%	3.52%	-3.55%	10.26%	-48.08%	3.21%	61.07%	4.70%
USL United States 12 Month Oil Fund LP	63.07%	-12.37%	8.30%	-1.11%	27.10%	62.48%	-25.23%	7.68%

Correlation

The correlation between GXTG and USL is -0.21, 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	-0.21
Correlation (3Y) Calculated over the trailing 3-year period	0.01
Correlation (5Y) Calculated over the trailing 5-year period	0.08
Correlation (All Time) Calculated using the full available price history since Nov 5, 2019	0.13

The correlation between GXTG and USL shifts across timeframes, from -0.21 (1 year) to 0.13 (all time), reflecting how their relationship changes across market environments.

GXTG vs. USL - Sectors Allocation Comparison

Sectors	GXTG	USL
Technology	22.3%	-
Basic Materials	14.4%	-
Utilities	12.4%	-
Communication Services	11.7%	-
Consumer Cyclical	11.5%	-
Healthcare	10.5%	-
Industrials	8.0%	-
Real Estate	6.9%	-
Financial Services	2.3%	4.5%
Consumer Defensive	-	-
Energy	-	-

Return for Risk

GXTG vs. USL — Risk / Return Rank

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

GXTG

GXTG Risk / Return Rank: 23
GXTG Sharpe Ratio Rank: 25
GXTG Sortino Ratio Rank: 24
GXTG Omega Ratio Rank: 25
GXTG Calmar Ratio Rank: 21
GXTG Martin Ratio Rank: 19

USL

USL Risk / Return Rank: 56
USL Sharpe Ratio Rank: 59
USL Sortino Ratio Rank: 53
USL Omega Ratio Rank: 54
USL Calmar Ratio Rank: 69
USL Martin Ratio Rank: 43

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.

GXTG vs. USL - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Global X Thematic Growth ETF (GXTG) and United States 12 Month Oil Fund LP (USL). 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.

	GXTG	USL	Difference
Sharpe ratio: Return per unit of total volatility	0.88	2.04	-1.16
Sortino ratio: Return per unit of downside risk	1.32	2.58	-1.26
Omega ratio: Gain probability vs. loss probability	1.17	1.34	-0.17
Calmar ratio: Return relative to maximum drawdown	0.91	3.47	-2.56
Martin ratio: Return relative to average drawdown	2.15	7.02	-4.86
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

GXTG vs. USL - Sharpe Ratio Comparison

The current GXTG Sharpe Ratio is 0.88, which is lower than the USL Sharpe Ratio of 2.04. The chart below compares the historical Sharpe Ratios of GXTG and USL, 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

	GXTG	USL	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.88	2.04	-1.16
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.29	0.58	-0.87
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.34	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.12	0.01	+0.11

Drawdowns

GXTG vs. USL - Drawdown Comparison

The maximum GXTG drawdown since its inception was -67.81%, smaller than the maximum USL drawdown of -89.06%. Use the drawdown chart below to compare losses from any high point for GXTG and USL.

Drawdown Indicators

	GXTG	USL	Difference
Max Drawdown Largest peak-to-trough decline	-67.81%	-89.06%	+21.25%
Max Drawdown (1Y) Largest decline over 1 year	-24.65%	-16.76%	-7.89%
Max Drawdown (3Y) Largest decline over 3 years	-31.89%	-23.33%	-8.56%
Max Drawdown (5Y) Largest decline over 5 years	-61.17%	-33.82%	-27.35%
Max Drawdown (10Y) Largest decline over 10 years	—	-66.02%	—
Current Drawdown Current decline from peak	-50.50%	-38.16%	-12.34%
Average Drawdown Average peak-to-trough decline	-43.09%	-61.46%	+18.37%
Ulcer Index Depth and duration of drawdowns from previous peaks	10.35%	8.27%	+2.08%

Volatility

GXTG vs. USL - Volatility Comparison

Global X Thematic Growth ETF (GXTG) and United States 12 Month Oil Fund LP (USL) have volatilities of 10.21% and 10.53%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	GXTG	USL	Difference
Volatility (1M) Calculated over the trailing 1-month period	10.21%	10.53%	-0.32%
Volatility (6M) Calculated over the trailing 6-month period	18.97%	23.33%	-4.36%
Volatility (1Y) Calculated over the trailing 1-year period	25.52%	28.54%	-3.02%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	27.63%	30.08%	-2.45%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	29.59%	32.35%	-2.76%

GXTG vs. USL - Expense Ratio Comparison

GXTG has a 0.50% expense ratio, which is lower than USL's 0.88% expense ratio.

Dividends

GXTG vs. USL - Dividend Comparison

GXTG's dividend yield for the trailing twelve months is around 1.12%, while USL has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019
GXTG Global X Thematic Growth ETF	1.12%	1.40%	1.08%	1.99%	1.48%	1.56%	0.48%	0.31%
USL United States 12 Month Oil Fund LP	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both GXTG and USL in my portfolio?

GXTG and USL have a correlation of -0.21, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, GXTG or USL?

USL has higher volatility (10.53%) compared to GXTG (10.21%). In terms of maximum drawdown, GXTG dropped -67.81% vs USL's -89.06%.

Which ETF is better, GXTG or USL?

On 5-year performance, USL leads with 17.41% vs -7.87% for GXTG. On fees, GXTG is cheaper at 0.50% per year. On volatility, GXTG has been the lower-risk option at 10.21%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, GXTG or USL?

Over the 5-year period, USL has performed better with a 17.41% return vs -7.87%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, GXTG or USL?

GXTG is cheaper with a 0.50% expense ratio, compared with 0.88% for USL.

Which ETF pays a higher dividend yield, GXTG or USL?

GXTG has the higher dividend yield at 1.12%, compared with 0.00% for USL.

What is the main difference between GXTG and USL?

GXTG is categorized as Global Equities, while USL is Oil & Gas. GXTG tracks Solactive Thematic Growth Index, while USL tracks 12 Month Light Sweet Crude Oil. They also come from different issuers: Global X and Concierge Technologies. Their fees differ too: 0.50% for GXTG and 0.88% for USL.

Which has better risk-adjusted returns?

USL currently has the higher Sharpe Ratio (2.04 vs 0.88), 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.