IBHF vs. USO
IBHF (iShares iBonds 2026 Term High Yield and Income ETF) and USO (United States Oil Fund LP) are both exchange-traded funds - IBHF is a Corporate Bonds fund actively managed by iShares, while USO is a Oil & Gas fund tracking the Front Month Light Sweet Crude Oil. IBHF is actively managed, while USO is passively managed. Over the past 5 years, IBHF returned 4.05%/yr vs 24.41%/yr for USO. At a 0.08 correlation, their price movements are largely independent. IBHF charges 0.35%/yr vs 0.86%/yr for USO.
Performance
IBHF vs. USO - Performance Comparison
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Returns By Period
In the year-to-date period, IBHF achieves a 0.41% return, which is significantly lower than USO's 103.67% return.
IBHF
- 1D
- -0.04%
- 1M
- -0.05%
- YTD
- 0.41%
- 6M
- 0.86%
- 1Y
- 4.76%
- 3Y*
- 7.23%
- 5Y*
- 4.05%
- 10Y*
- —
USO
- 1D
- 2.62%
- 1M
- -4.57%
- YTD
- 103.67%
- 6M
- 99.35%
- 1Y
- 101.55%
- 3Y*
- 29.98%
- 5Y*
- 24.41%
- 10Y*
- 4.07%
IBHF vs. USO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
IBHF iShares iBonds 2026 Term High Yield and Income ETF | 0.41% | 6.60% | 8.55% | 10.40% | -6.66% | 4.43% | 2.97% |
USO United States Oil Fund LP | 103.67% | -8.46% | 13.35% | -4.94% | 28.97% | 64.68% | 15.18% |
Correlation
The correlation between IBHF and USO is -0.25, 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 | -0.25 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.07 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.07 |
Correlation (All Time) Calculated using the full available price history since Nov 13, 2020 | 0.08 |
The correlation between IBHF and USO shifts across timeframes, from -0.25 (1 year) to 0.08 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
IBHF vs. USO — Risk / Return Rank
IBHF
USO
IBHF vs. USO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares iBonds 2026 Term High Yield and Income ETF (IBHF) 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.
| IBHF | USO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.05 | ||
| Sortino ratioReturn per unit of downside risk | +1.25 | ||
| Omega ratioGain probability vs. loss probability | 1.51 | 1.38 | +0.13 |
| Calmar ratioReturn relative to maximum drawdown | 7.48 | 5.01 | +2.47 |
| Martin ratioReturn relative to average drawdown | 23.36 | 9.42 | +13.94 |
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
| IBHF | USO | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.36 | 2.31 | +0.05 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.70 | 0.68 | +0.02 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.10 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.83 | -0.18 | +1.00 |
Drawdowns
IBHF vs. USO - Drawdown Comparison
The maximum IBHF drawdown since its inception was -11.19%, smaller than the maximum USO drawdown of -98.19%. Use the drawdown chart below to compare losses from any high point for IBHF and USO.
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Drawdown Indicators
| IBHF | USO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -11.19% | -98.19% | +87.00% |
Max Drawdown (1Y)Largest decline over 1 year | -0.64% | -20.39% | +19.75% |
Max Drawdown (3Y)Largest decline over 3 years | -2.53% | -26.05% | +23.52% |
Max Drawdown (5Y)Largest decline over 5 years | -11.19% | -36.23% | +25.04% |
Max Drawdown (10Y)Largest decline over 10 years | — | -86.75% | — |
Current DrawdownCurrent decline from peak | -0.58% | -85.01% | +84.43% |
Average DrawdownAverage peak-to-trough decline | -1.80% | -75.30% | +73.50% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.20% | 10.82% | -10.62% |
Volatility
IBHF vs. USO - Volatility Comparison
The current volatility for iShares iBonds 2026 Term High Yield and Income ETF (IBHF) is 0.76%, while United States Oil Fund LP (USO) has a volatility of 14.87%. This indicates that IBHF 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
| IBHF | USO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.76% | 14.87% | -14.11% |
Volatility (6M)Calculated over the trailing 6-month period | 1.22% | 38.23% | -37.01% |
Volatility (1Y)Calculated over the trailing 1-year period | 2.03% | 44.20% | -42.17% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.80% | 36.06% | -30.26% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.66% | 39.00% | -33.34% |
IBHF vs. USO - Expense Ratio Comparison
IBHF has a 0.35% expense ratio, which is lower than USO's 0.86% expense ratio.
Dividends
IBHF vs. USO - Dividend Comparison
IBHF's dividend yield for the trailing twelve months is around 6.54%, while USO has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|---|---|
IBHF iShares iBonds 2026 Term High Yield and Income ETF | 6.54% | 6.73% | 7.17% | 7.33% | 6.01% | 4.55% | 0.61% |
USO United States Oil Fund LP | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
IBHF and USO have a correlation of -0.25, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
USO has higher volatility (14.87%) compared to IBHF (0.76%). In terms of maximum drawdown, IBHF dropped -11.19% vs USO's -98.19%.
On 5-year performance, USO leads with 24.41% vs 4.05% for IBHF. On fees, IBHF is cheaper at 0.35% per year. On volatility, IBHF has been the lower-risk option at 0.76%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, USO has performed better with a 24.41% return vs 4.05%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
IBHF is cheaper with a 0.35% expense ratio, compared with 0.86% for USO.
IBHF has the higher dividend yield at 6.54%, compared with 0.00% for USO.
IBHF is categorized as Corporate Bonds, while USO is Oil & Gas. They also come from different issuers: iShares and USCF. Their fees differ too: 0.35% for IBHF and 0.86% for USO.
IBHF currently has the higher Sharpe Ratio (2.36 vs 2.31), 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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