HOOG vs. USO
HOOG (Leverage Shares 2X Long HOOD Daily ETF) and USO (United States Oil Fund LP) are both exchange-traded funds - HOOG is a Leveraged Equities fund actively managed by Leverage Shares, while USO is a Oil & Gas fund tracking the Front Month Light Sweet Crude Oil. HOOG is actively managed, while USO is passively managed. Over the past year, HOOG returned -29.31% vs 97.20% for USO. At a correlation of -0.09, they often move in opposite directions. HOOG charges 0.75%/yr vs 0.86%/yr for USO.
Performance
HOOG vs. USO - Performance Comparison
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Returns By Period
In the year-to-date period, HOOG achieves a -60.40% return, which is significantly lower than USO's 97.72% return.
HOOG
- 1D
- -12.13%
- 1M
- 10.59%
- YTD
- -60.40%
- 6M
- -72.73%
- 1Y
- -29.31%
- 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%
HOOG vs. USO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
HOOG Leverage Shares 2X Long HOOD Daily ETF | -60.40% | 291.44% |
USO United States Oil Fund LP | 97.72% | -6.27% |
Correlation
The correlation between HOOG and USO is -0.19, 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 | -0.19 |
Correlation (All Time) Calculated using the full available price history since Mar 24, 2025 | -0.09 |
The correlation between HOOG and USO shifts across timeframes, from -0.19 (1 year) to -0.09 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
HOOG vs. USO — Risk / Return Rank
HOOG
USO
HOOG vs. USO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Leverage Shares 2X Long HOOD Daily ETF (HOOG) 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.
| HOOG | USO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.42 | ||
| Sortino ratioReturn per unit of downside risk | -2.16 | ||
| Omega ratioGain probability vs. loss probability | 1.07 | 1.37 | -0.29 |
| Calmar ratioReturn relative to maximum drawdown | -0.34 | 4.79 | -5.13 |
| Martin ratioReturn relative to average drawdown | -0.55 | 9.00 | -9.55 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| HOOG | USO | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -0.22 | 2.21 | -2.42 |
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 | 0.31 | -0.18 | +0.49 |
Drawdowns
HOOG vs. USO - Drawdown Comparison
The maximum HOOG drawdown since its inception was -86.94%, smaller than the maximum USO drawdown of -98.19%. Use the drawdown chart below to compare losses from any high point for HOOG and USO.
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Drawdown Indicators
| HOOG | USO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -86.94% | -98.19% | +11.25% |
Max Drawdown (1Y)Largest decline over 1 year | -86.94% | -20.39% | -66.55% |
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 DrawdownCurrent decline from peak | -81.53% | -85.45% | +3.92% |
Average DrawdownAverage peak-to-trough decline | -37.56% | -75.30% | +37.74% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 53.22% | 10.84% | +42.38% |
Volatility
HOOG vs. USO - Volatility Comparison
Leverage Shares 2X Long HOOD Daily ETF (HOOG) has a higher volatility of 41.51% compared to United States Oil Fund LP (USO) at 14.97%. This indicates that HOOG'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.
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Volatility by Period
| HOOG | USO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 41.51% | 14.97% | +26.54% |
Volatility (6M)Calculated over the trailing 6-month period | 100.64% | 38.35% | +62.29% |
Volatility (1Y)Calculated over the trailing 1-year period | 137.15% | 44.32% | +92.83% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 144.88% | 36.09% | +108.79% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 144.88% | 39.00% | +105.88% |
HOOG vs. USO - Expense Ratio Comparison
HOOG has a 0.75% expense ratio, which is lower than USO's 0.86% expense ratio.
Dividends
HOOG vs. USO - Dividend Comparison
HOOG's dividend yield for the trailing twelve months is around 31.07%, while USO has not paid dividends to shareholders.
| Position | TTM | 2025 |
|---|---|---|
HOOG Leverage Shares 2X Long HOOD Daily ETF | 31.07% | 12.30% |
USO United States Oil Fund LP | 0.00% | 0.00% |
Frequently Asked Questions
HOOG and USO have a correlation of -0.19, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
HOOG has higher volatility (41.51%) compared to USO (14.97%). In terms of maximum drawdown, HOOG dropped -86.94% vs USO's -98.19%.
On 1-year performance, USO leads with 97.20% vs -29.31% for HOOG. On fees, HOOG is cheaper at 0.75% 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.
Over the 1-year period, USO has performed better with a 97.20% return vs -29.31%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
HOOG is cheaper with a 0.75% expense ratio, compared with 0.86% for USO.
HOOG has the higher dividend yield at 31.07%, compared with 0.00% for USO.
HOOG is categorized as Leveraged Equities, while USO is Oil & Gas. They also come from different issuers: Leverage Shares and USCF. Their fees differ too: 0.75% for HOOG and 0.86% for USO.
USO currently has the higher Sharpe Ratio (2.21 vs -0.22), 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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