IJUN vs. USO

Last updated Jun 6, 2026

IJUN (Innovator International Developed Power Buffer ETF - June) and USO (United States Oil Fund LP) are both exchange-traded funds - IJUN is a Defined Outcome fund actively managed by Innovator, while USO is a Oil & Gas fund tracking the Front Month Light Sweet Crude Oil. IJUN is actively managed, while USO is passively managed. Over the past year, IJUN returned 11.87% vs 90.22% for USO. At a correlation of -0.12, they often move in opposite directions. IJUN charges 0.85%/yr vs 0.86%/yr for USO.

Performance

IJUN vs. USO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Innovator International Developed Power Buffer ETF - June (IJUN) 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, IJUN achieves a 4.98% return, which is significantly lower than USO's 92.34% return.

IJUN

• 1D: -1.45%
• 1M: -0.21%
• YTD: 4.98%
• 6M: 6.48%
• 1Y: 11.87%
• 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%

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

IJUN vs. USO - Yearly Performance Comparison

	2026 (YTD)	2025	2024
IJUN Innovator International Developed Power Buffer ETF - June	4.98%	18.70%	-2.34%
USO United States Oil Fund LP	92.34%	-8.46%	5.18%

Correlation

The correlation between IJUN and USO is -0.37, 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	-0.37
Correlation (All Time) Calculated using the full available price history since Jun 4, 2024	-0.12

Over the past year, the inverse relationship between IJUN and USO has strengthened: their correlation has moved from -0.12 to -0.37, meaning they now move in opposite directions more often than their long-term average.

Return for Risk

IJUN vs. USO — Risk / Return Rank

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

IJUN

IJUN Risk / Return Rank: 51
IJUN Sharpe Ratio Rank: 48
IJUN Sortino Ratio Rank: 49
IJUN Omega Ratio Rank: 49
IJUN Calmar Ratio Rank: 49
IJUN Martin Ratio Rank: 57

USO

USO Risk / Return Rank: 63
USO Sharpe Ratio Rank: 62
USO Sortino Ratio Rank: 58
USO Omega Ratio Rank: 58
USO Calmar Ratio Rank: 84
USO Martin Ratio Rank: 51

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.

IJUN vs. USO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Innovator International Developed Power Buffer ETF - June (IJUN) 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.

	IJUN	USO	Difference
Sharpe ratio: Return per unit of total volatility	1.54	2.04	-0.50
Sortino ratio: Return per unit of downside risk	2.21	2.66	-0.45
Omega ratio: Gain probability vs. loss probability	1.29	1.35	-0.06
Calmar ratio: Return relative to maximum drawdown	2.27	4.45	-2.18
Martin ratio: Return relative to average drawdown	9.37	8.33	+1.04
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

IJUN vs. USO - Sharpe Ratio Comparison

The current IJUN Sharpe Ratio is 1.54, which is comparable to the USO Sharpe Ratio of 2.04. The chart below compares the historical Sharpe Ratios of IJUN 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.

Sharpe Ratios by Period

	IJUN	USO	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.54	2.04	-0.50
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	1.16	-0.18	+1.34

Drawdowns

IJUN vs. USO - Drawdown Comparison

The maximum IJUN drawdown since its inception was -7.31%, smaller than the maximum USO drawdown of -98.19%. Use the drawdown chart below to compare losses from any high point for IJUN and USO.

Drawdown Indicators

	IJUN	USO	Difference
Max Drawdown Largest peak-to-trough decline	-7.31%	-98.19%	+90.88%
Max Drawdown (1Y) Largest decline over 1 year	-5.25%	-20.39%	+15.14%
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 Drawdown Current decline from peak	-1.45%	-85.85%	+84.40%
Average Drawdown Average peak-to-trough decline	-1.71%	-75.30%	+73.59%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.27%	10.87%	-9.60%

Volatility

IJUN vs. USO - Volatility Comparison

The current volatility for Innovator International Developed Power Buffer ETF - June (IJUN) is 2.00%, while United States Oil Fund LP (USO) has a volatility of 13.30%. This indicates that IJUN 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

	IJUN	USO	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.00%	13.30%	-11.30%
Volatility (6M) Calculated over the trailing 6-month period	6.17%	38.49%	-32.32%
Volatility (1Y) Calculated over the trailing 1-year period	7.73%	44.41%	-36.68%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	8.92%	36.09%	-27.17%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	8.92%	39.01%	-30.09%

IJUN vs. USO - Expense Ratio Comparison

IJUN has a 0.85% expense ratio, which is lower than USO's 0.86% expense ratio.

Dividends

IJUN vs. USO - Dividend Comparison

Neither IJUN nor USO has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both IJUN and USO in my portfolio?

IJUN and USO have a correlation of -0.37, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, IJUN or USO?

USO has higher volatility (13.30%) compared to IJUN (2.00%). In terms of maximum drawdown, IJUN dropped -7.31% vs USO's -98.19%.

Which ETF is better, IJUN or USO?

On 1-year performance, USO leads with 90.22% vs 11.87% for IJUN. On fees, IJUN is cheaper at 0.85% per year. On volatility, IJUN has been the lower-risk option at 2.00%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, IJUN or USO?

Over the 1-year period, USO has performed better with a 90.22% return vs 11.87%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, IJUN or USO?

IJUN is cheaper with a 0.85% expense ratio, compared with 0.86% for USO.

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

IJUN and USO have nearly identical dividend yields, around 0.00%.

What is the main difference between IJUN and USO?

IJUN is categorized as Defined Outcome, while USO is Oil & Gas. They also come from different issuers: Innovator and USCF. Their fees differ too: 0.85% for IJUN and 0.86% for USO.

Which has better risk-adjusted returns?

USO currently has the higher Sharpe Ratio (2.04 vs 1.54), 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.