HIMU vs. USO
HIMU (iShares High Yield Muni Active ETF) and USO (United States Oil Fund LP) are both exchange-traded funds - HIMU is a High Yield Muni fund actively managed by iShares, while USO is a Oil & Gas fund tracking the Front Month Light Sweet Crude Oil. HIMU is actively managed, while USO is passively managed. Over the past year, HIMU returned 6.84% vs 66.76% for USO. Their -0.16 correlation means they have often moved in opposite directions in the past. HIMU charges 0.42%/yr vs 0.86%/yr for USO.
Performance
HIMU vs. USO - Performance Comparison
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Returns By Period
In the year-to-date period, HIMU achieves a 2.34% return, which is significantly lower than USO's 86.77% return.
HIMU
- 1D
- -0.10%
- 1M
- -2.16%
- 6M
- 1.49%
- YTD
- 2.34%
- 1Y
- 6.84%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 2.61%
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) |
|---|---|---|---|
| $15.56M | $15.88M | $18.31M | |
| $968.42M | $871.56M | $931.57M |
HIMU vs. USO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
HIMU iShares High Yield Muni Active ETF | 2.34% | 1.48% |
USO United States Oil Fund LP | 86.77% | -8.83% |
Correlation
The correlation between HIMU and USO is -0.33, 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. | -0.33 |
Correlation (All Time) Calculated using the full available price history since Feb 10, 2025 | -0.16 |
The correlation between HIMU and USO shifts across timeframes, from -0.33 (1 year) to -0.16 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
HIMU vs. USO — Risk / Return Rank
HIMU
USO
HIMU vs. USO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares High Yield Muni Active ETF (HIMU) 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.
| HIMU | USO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.48 | ||
| Sortino ratioReturn per unit of downside risk | +0.62 | ||
| Omega ratioGain probability vs. loss probability | 1.36 | 1.25 | +0.12 |
| Calmar ratioReturn relative to maximum drawdown | 2.34 | 1.93 | +0.41 |
| Martin ratioReturn relative to average drawdown | 8.96 | 5.60 | +3.36 |
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Drawdowns
HIMU vs. USO - Drawdown Comparison
The maximum HIMU drawdown since its inception was -8.01%, smaller than the maximum USO drawdown of -98.19%. Use the drawdown chart below to compare losses from any high point for HIMU and USO.
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Drawdown Indicators
| HIMU | USO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -8.01% | -98.19% | +90.18% |
Max Drawdown (1Y)Largest decline over 1 year | -3.29% | -32.49% | +29.20% |
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 | -2.20% | -86.26% | +84.06% |
Average DrawdownAverage peak-to-trough decline | -1.63% | -75.38% | +73.75% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.86% | 12.03% | -11.17% |
Volatility
HIMU vs. USO - Volatility Comparison
The current volatility for iShares High Yield Muni Active ETF (HIMU) is 1.09%, while United States Oil Fund LP (USO) has a volatility of 17.73%. This indicates that HIMU 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
| HIMU | USO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.09% | 17.73% | -16.64% |
Volatility (6M)Calculated over the trailing 6-month period | 3.35% | 42.79% | -39.44% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.25% | 46.91% | -42.66% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 7.12% | 37.06% | -29.94% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 7.12% | 39.29% | -32.17% |
HIMU vs. USO - Expense Ratio Comparison
HIMU has a 0.42% expense ratio, which is lower than USO's 0.86% expense ratio.
Dividends
HIMU vs. USO - Dividend Comparison
HIMU's dividend yield for the trailing twelve months is around 5.19%, while USO has not paid dividends to shareholders.
| Position | TTM | 2025 |
|---|---|---|
HIMU iShares High Yield Muni Active ETF | 4.80% | 4.57% |
USO United States Oil Fund LP | 0.00% | 0.00% |
Frequently Asked Questions
HIMU and USO have a correlation of -0.33, 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 HIMU (1.09%). In terms of maximum drawdown, HIMU dropped -8.01% vs USO's -98.19%.
On 1-year performance, USO leads with 66.76% vs 6.84% for HIMU. On fees, HIMU is cheaper at 0.42% per year. On volatility, HIMU has been the lower-risk option at 1.09%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, USO has performed better with a 66.76% return vs 6.84%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
HIMU is cheaper with a 0.42% expense ratio, compared with 0.86% for USO.
HIMU has the higher dividend yield at 4.80%, compared with 0.00% for USO.
HIMU is categorized as High Yield Muni, while USO is Oil & Gas. They also come from different issuers: iShares and USCF. Their fees differ too: 0.42% for HIMU and 0.86% for USO.
HIMU currently has the higher Sharpe Ratio (1.81 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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