HYBI vs. USO
HYBI (NEOS Enhanced Income Credit Select ETF) and USO (United States Oil Fund LP) are both exchange-traded funds - HYBI is a Nontraditional Bonds fund actively managed by Neos, while USO is a Oil & Gas fund tracking the Front Month Light Sweet Crude Oil. HYBI is actively managed, while USO is passively managed. Over the past year, HYBI returned 6.84% vs 90.22% for USO. At a correlation of -0.19, they often move in opposite directions. HYBI charges 0.68%/yr vs 0.86%/yr for USO.
Performance
HYBI vs. USO - Performance Comparison
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Returns By Period
In the year-to-date period, HYBI achieves a 1.10% return, which is significantly lower than USO's 92.34% return.
HYBI
- 1D
- -0.59%
- 1M
- -0.59%
- YTD
- 1.10%
- 6M
- 1.55%
- 1Y
- 6.84%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
USO
- 1D
- -2.72%
- 1M
- -0.69%
- YTD
- 92.34%
- 6M
- 84.96%
- 1Y
- 90.22%
- 3Y*
- 27.76%
- 5Y*
- 22.99%
- 10Y*
- 3.13%
HYBI vs. USO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
HYBI NEOS Enhanced Income Credit Select ETF | 1.10% | 6.97% | -0.48% |
USO United States Oil Fund LP | 92.34% | -8.46% | 8.05% |
Correlation
The correlation between HYBI and USO is -0.34, 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 | -0.34 |
Correlation (All Time) Calculated using the full available price history since Oct 1, 2024 | -0.19 |
The correlation between HYBI and USO shifts across timeframes, from -0.34 (1 year) to -0.19 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
HYBI vs. USO — Risk / Return Rank
HYBI
USO
HYBI vs. USO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for NEOS Enhanced Income Credit Select ETF (HYBI) 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.
| HYBI | USO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.06 | ||
| Sortino ratioReturn per unit of downside risk | +0.50 | ||
| Omega ratioGain probability vs. loss probability | 1.41 | 1.35 | +0.06 |
| Calmar ratioReturn relative to maximum drawdown | 4.81 | 4.45 | +0.36 |
| Martin ratioReturn relative to average drawdown | 15.67 | 8.33 | +7.34 |
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
| HYBI | USO | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.10 | 2.04 | +0.06 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | 0.64 | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.08 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.91 | -0.18 | +1.09 |
Drawdowns
HYBI vs. USO - Drawdown Comparison
The maximum HYBI drawdown since its inception was -4.68%, smaller than the maximum USO drawdown of -98.19%. Use the drawdown chart below to compare losses from any high point for HYBI and USO.
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Drawdown Indicators
| HYBI | USO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -4.68% | -98.19% | +93.51% |
Max Drawdown (1Y)Largest decline over 1 year | -1.43% | -20.39% | +18.96% |
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 | -0.70% | -85.85% | +85.15% |
Average DrawdownAverage peak-to-trough decline | -0.62% | -75.30% | +74.68% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.44% | 10.87% | -10.43% |
Volatility
HYBI vs. USO - Volatility Comparison
The current volatility for NEOS Enhanced Income Credit Select ETF (HYBI) is 1.11%, while United States Oil Fund LP (USO) has a volatility of 13.30%. This indicates that HYBI 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
| HYBI | USO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.11% | 13.30% | -12.19% |
Volatility (6M)Calculated over the trailing 6-month period | 2.21% | 38.49% | -36.28% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.27% | 44.41% | -41.14% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 4.95% | 36.09% | -31.14% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.95% | 39.01% | -34.06% |
HYBI vs. USO - Expense Ratio Comparison
HYBI has a 0.68% expense ratio, which is lower than USO's 0.86% expense ratio.
Dividends
HYBI vs. USO - Dividend Comparison
HYBI's dividend yield for the trailing twelve months is around 8.41%, while USO has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 |
|---|---|---|---|
HYBI NEOS Enhanced Income Credit Select ETF | 8.41% | 8.48% | 2.21% |
USO United States Oil Fund LP | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
HYBI and USO have a correlation of -0.34, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
USO has higher volatility (13.30%) compared to HYBI (1.11%). In terms of maximum drawdown, HYBI dropped -4.68% vs USO's -98.19%.
On 1-year performance, USO leads with 90.22% vs 6.84% for HYBI. On fees, HYBI is cheaper at 0.68% per year. On volatility, HYBI has been the lower-risk option at 1.11%. 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 90.22% return vs 6.84%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
HYBI is cheaper with a 0.68% expense ratio, compared with 0.86% for USO.
HYBI has the higher dividend yield at 8.41%, compared with 0.00% for USO.
HYBI is categorized as Nontraditional Bonds, while USO is Oil & Gas. They also come from different issuers: Neos and USCF. Their fees differ too: 0.68% for HYBI and 0.86% for USO.
HYBI currently has the higher Sharpe Ratio (2.10 vs 2.04), 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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