INQQ vs. USO
INQQ (India Internet & Ecommerce ETF) and USO (United States Oil Fund LP) are both exchange-traded funds - INQQ is a Asia Pacific Equities fund tracking the INQQ The India Internet & Ecommerce Index - Benchmark TR Gross, while USO is a Oil & Gas fund tracking the Front Month Light Sweet Crude Oil. Both are passively managed. Over the past 3 years, INQQ returned 3.61%/yr vs 28.78%/yr for USO. At a correlation of -0.01, they often move in opposite directions. Both charge a 0.86% expense ratio.
Performance
INQQ vs. USO - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, INQQ achieves a -17.70% return, which is significantly lower than USO's 97.72% return.
INQQ
- 1D
- 1.28%
- 1M
- -5.11%
- YTD
- -17.70%
- 6M
- -19.24%
- 1Y
- -23.05%
- 3Y*
- 3.61%
- 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%
INQQ vs. USO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
INQQ India Internet & Ecommerce ETF | -17.70% | -7.05% | 19.12% | 31.45% | -34.73% |
USO United States Oil Fund LP | 97.72% | -8.46% | 13.35% | -4.94% | -4.02% |
Correlation
The correlation between INQQ 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 (3Y) Calculated over the trailing 3-year period | -0.12 |
Correlation (All Time) Calculated using the full available price history since Apr 7, 2022 | -0.01 |
Over the past year, the inverse relationship between INQQ and USO has strengthened: their correlation has moved from -0.01 to -0.37, meaning they now move in opposite directions more often than their long-term average.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
INQQ vs. USO — Risk / Return Rank
INQQ
USO
INQQ vs. USO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for India Internet & Ecommerce ETF (INQQ) 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.
| INQQ | USO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -3.52 | ||
| Sortino ratioReturn per unit of downside risk | -4.70 | ||
| Omega ratioGain probability vs. loss probability | 0.78 | 1.37 | -0.59 |
| Calmar ratioReturn relative to maximum drawdown | -0.76 | 4.79 | -5.55 |
| Martin ratioReturn relative to average drawdown | -1.62 | 9.00 | -10.61 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
Loading charts...
Sharpe Ratios by Period
| INQQ | USO | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -1.32 | 2.21 | -3.52 |
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 | -0.29 | -0.18 | -0.11 |
Drawdowns
INQQ vs. USO - Drawdown Comparison
The maximum INQQ drawdown since its inception was -40.53%, smaller than the maximum USO drawdown of -98.19%. Use the drawdown chart below to compare losses from any high point for INQQ and USO.
Loading charts...
Drawdown Indicators
| INQQ | USO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -40.53% | -98.19% | +57.66% |
Max Drawdown (1Y)Largest decline over 1 year | -30.41% | -20.39% | -10.02% |
Max Drawdown (3Y)Largest decline over 3 years | -32.45% | -26.05% | -6.40% |
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 | -27.58% | -85.45% | +57.87% |
Average DrawdownAverage peak-to-trough decline | -17.06% | -75.30% | +58.24% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 14.29% | 10.84% | +3.45% |
Volatility
INQQ vs. USO - Volatility Comparison
The current volatility for India Internet & Ecommerce ETF (INQQ) is 6.00%, while United States Oil Fund LP (USO) has a volatility of 14.97%. This indicates that INQQ 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.
Loading charts...
Volatility by Period
| INQQ | USO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.00% | 14.97% | -8.97% |
Volatility (6M)Calculated over the trailing 6-month period | 14.67% | 38.35% | -23.68% |
Volatility (1Y)Calculated over the trailing 1-year period | 17.57% | 44.32% | -26.75% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 19.97% | 36.09% | -16.12% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 19.97% | 39.00% | -19.03% |
INQQ vs. USO - Expense Ratio Comparison
Both INQQ and USO have an expense ratio of 0.86%.
Dividends
INQQ vs. USO - Dividend Comparison
INQQ's dividend yield for the trailing twelve months is around 2.71%, while USO has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 |
|---|---|---|---|---|
INQQ India Internet & Ecommerce ETF | 2.71% | 2.23% | 1.18% | 0.04% |
USO United States Oil Fund LP | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
INQQ 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.
USO has higher volatility (14.97%) compared to INQQ (6.00%). In terms of maximum drawdown, INQQ dropped -40.53% vs USO's -98.19%.
On 3-year performance, USO leads with 28.78% vs 3.61% for INQQ. Both ETFs have the same 0.86% expense ratio. On volatility, INQQ has been the lower-risk option at 6.00%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, USO has performed better with a 28.78% return vs 3.61%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
INQQ and USO have the same expense ratio: 0.86% per year.
INQQ has the higher dividend yield at 2.71%, compared with 0.00% for USO.
INQQ is categorized as Asia Pacific Equities, while USO is Oil & Gas. INQQ tracks INQQ The India Internet & Ecommerce Index - Benchmark TR Gross, while USO tracks Front Month Light Sweet Crude Oil. They also come from different issuers: India and USCF.
USO currently has the higher Sharpe Ratio (2.21 vs -1.32), 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.
Find the right allocation for INQQ and USO
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer