IBGL vs. USO

Last updated Jul 26, 2026

IBGL (iShares iBonds Dec 2055 Term Treasury ETF) and USO (United States Oil Fund LP) are both exchange-traded funds - IBGL is a Government Bonds fund tracking the ICE 2055 Maturity US Treasury Index, while USO is a Oil & Gas fund tracking the Front Month Light Sweet Crude Oil. Both are passively managed. Over the past year, IBGL returned 0.84% vs 82.62% for USO. Their -0.31 correlation means they have often moved in opposite directions in the past. IBGL charges 0.07%/yr vs 0.86%/yr for USO.

Performance

IBGL vs. USO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares iBonds Dec 2055 Term Treasury ETF (IBGL) and United States Oil Fund LP (USO). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, IBGL achieves a -2.10% return, which is significantly lower than USO's 97.64% return.

IBGL

• 1D: 0.13%
• 1M: -4.07%
• 6M: -2.83%
• YTD: -2.10%
• 1Y: 0.84%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: -0.86%

USO

• 1D: -2.01%
• 1M: 25.05%
• 6M: 84.84%
• YTD: 97.64%
• 1Y: 82.62%
• 3Y*: 24.31%
• 5Y*: 22.54%
• 10Y*: 5.42%
• ALL TIME*: -6.60%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
IBGL iShares iBonds Dec 2055 Term Treasury ETF	$18.72K	$15.71K	$16.10K
USO United States Oil Fund LP	$1.02B	$802.47M	$996.79M

IBGL vs. USO - Yearly Performance Comparison

	2026 (YTD)	2025
IBGL iShares iBonds Dec 2055 Term Treasury ETF	-2.10%	0.99%
USO United States Oil Fund LP	97.64%	-7.56%

Correlation

The correlation between IBGL and USO is -0.38, 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.	-0.38
Correlation (All Time) Calculated using the full available price history since Mar 26, 2025	-0.31

Return for Risk

IBGL vs. USO — Risk / Return Rank

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

IBGL

IBGL Risk / Return Rank: 15
IBGL Sharpe Ratio Rank: 16
IBGL Sortino Ratio Rank: 14
IBGL Omega Ratio Rank: 14
IBGL Calmar Ratio Rank: 15
IBGL Martin Ratio Rank: 15

USO

USO Risk / Return Rank: 69
USO Sharpe Ratio Rank: 77
USO Sortino Ratio Rank: 75
USO Omega Ratio Rank: 71
USO Calmar Ratio Rank: 69
USO Martin Ratio Rank: 55

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.

IBGL vs. USO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares iBonds Dec 2055 Term Treasury ETF (IBGL) 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.

	IBGL	USO	Difference
Sharpe ratio: Return per unit of total volatility	0.17	1.76	-1.59
Sortino ratio: Return per unit of downside risk	0.31	2.43	-2.12
Omega ratio: Gain probability vs. loss probability	1.03	1.30	-0.26
Calmar ratio: Return relative to maximum drawdown	0.20	2.46	-2.26
Martin ratio: Return relative to average drawdown	0.45	6.41	-5.96

IBGL vs. USO - Sharpe Ratio Comparison

The current IBGL Sharpe Ratio is 0.17, which is lower than the USO Sharpe Ratio of 1.76. The chart below compares the historical Sharpe Ratios of IBGL and USO, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

IBGL vs. USO - Drawdown Comparison

The maximum IBGL drawdown since its inception was -9.37%, smaller than the maximum USO drawdown of -98.19%. Use the drawdown chart below to compare losses from any high point for IBGL and USO.

Drawdown Indicators

	IBGL	USO	Difference
Max Drawdown Largest peak-to-trough decline	-9.37%	-98.19%	+88.82%
Max Drawdown (1Y) Largest decline over 1 year	-7.23%	-32.49%	+25.26%
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 Drawdown Current decline from peak	-6.17%	-85.46%	+79.29%
Average Drawdown Average peak-to-trough decline	-4.05%	-75.37%	+71.32%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.26%	12.47%	-9.21%

Volatility

IBGL vs. USO - Volatility Comparison

The current volatility for iShares iBonds Dec 2055 Term Treasury ETF (IBGL) is 1.88%, while United States Oil Fund LP (USO) has a volatility of 13.60%. This indicates that IBGL 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.

Volatility by Period

	IBGL	USO	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.88%	13.60%	-11.72%
Volatility (6M) Calculated over the trailing 6-month period	6.27%	41.19%	-34.92%
Volatility (1Y) Calculated over the trailing 1-year period	8.86%	45.56%	-36.70%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	10.30%	36.67%	-26.37%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	10.30%	39.13%	-28.83%

IBGL vs. USO - Expense Ratio Comparison

IBGL has a 0.07% expense ratio, which is lower than USO's 0.86% expense ratio.

Dividends

IBGL vs. USO - Dividend Comparison

IBGL's dividend yield for the trailing twelve months is around 4.81%, while USO has not paid dividends to shareholders.

Position	TTM	2025
IBGL iShares iBonds Dec 2055 Term Treasury ETF	4.81%	3.52%
USO United States Oil Fund LP	0.00%	0.00%

Frequently Asked Questions

Can I hold both IBGL and USO in my portfolio?

IBGL and USO have a correlation of -0.38, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, IBGL or USO?

USO has higher volatility (13.60%) compared to IBGL (1.88%). In terms of maximum drawdown, IBGL dropped -9.37% vs USO's -98.19%.

Which ETF is better, IBGL or USO?

On 1-year performance, USO leads with 82.62% vs 0.84% for IBGL. On fees, IBGL is cheaper at 0.07% per year. On volatility, IBGL has been the lower-risk option at 1.88%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, IBGL or USO?

Over the 1-year period, USO has performed better with a 82.62% return vs 0.84%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, IBGL or USO?

IBGL is cheaper with a 0.07% expense ratio, compared with 0.86% for USO.

Which ETF pays a higher dividend yield, IBGL or USO?

IBGL has the higher dividend yield at 4.81%, compared with 0.00% for USO.

What is the main difference between IBGL and USO?

IBGL is categorized as Government Bonds, while USO is Oil & Gas. IBGL tracks ICE 2055 Maturity US Treasury Index, while USO tracks Front Month Light Sweet Crude Oil. They also come from different issuers: iShares and USCF. Their fees differ too: 0.07% for IBGL and 0.86% for USO.

Which has better risk-adjusted returns?

USO currently has the higher Sharpe Ratio (1.76 vs 0.17), 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.