IPAY vs. USO
IPAY (ETFMG Prime Mobile Payments ETF) and USO (United States Oil Fund LP) are both exchange-traded funds - IPAY is a Technology Equities fund tracking the Prime Mobile Payments Index, while USO is a Oil & Gas fund tracking the Front Month Light Sweet Crude Oil. Both are passively managed. Over the past 10 years, IPAY returned 5.98%/yr vs 4.07%/yr for USO. At a 0.17 correlation, their price movements are largely independent. IPAY charges 0.75%/yr vs 0.86%/yr for USO.
Performance
IPAY vs. USO - Performance Comparison
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Returns By Period
In the year-to-date period, IPAY achieves a -16.45% return, which is significantly lower than USO's 103.67% return. Over the past 10 years, IPAY has outperformed USO with an annualized return of 5.98%, while USO has yielded a comparatively lower 4.07% annualized return.
IPAY
- 1D
- -4.17%
- 1M
- -9.09%
- YTD
- -16.45%
- 6M
- -16.03%
- 1Y
- -23.21%
- 3Y*
- 1.92%
- 5Y*
- -8.70%
- 10Y*
- 5.98%
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%
IPAY vs. USO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
IPAY ETFMG Prime Mobile Payments ETF | -16.45% | -9.55% | 25.88% | 18.21% | -32.38% | -12.72% | 34.22% | 41.80% | 0.17% | 36.34% |
USO United States Oil Fund LP | 103.67% | -8.46% | 13.35% | -4.94% | 28.97% | 64.68% | -67.79% | 32.61% | -19.57% | 2.47% |
Correlation
The correlation between IPAY and USO is -0.23, 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 | -0.23 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.04 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.08 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.15 |
Correlation (All Time) Calculated using the full available price history since Jul 17, 2015 | 0.17 |
The correlation between IPAY and USO shifts across timeframes, from -0.23 (1 year) to 0.17 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
IPAY vs. USO — Risk / Return Rank
IPAY
USO
IPAY vs. USO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ETFMG Prime Mobile Payments ETF (IPAY) 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.
| IPAY | USO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -3.29 | ||
| Sortino ratioReturn per unit of downside risk | -4.15 | ||
| Omega ratioGain probability vs. loss probability | 0.84 | 1.38 | -0.54 |
| Calmar ratioReturn relative to maximum drawdown | -0.74 | 5.01 | -5.75 |
| Martin ratioReturn relative to average drawdown | -1.42 | 9.42 | -10.84 |
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
| IPAY | USO | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -0.98 | 2.31 | -3.29 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.34 | 0.68 | -1.02 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.24 | 0.10 | +0.13 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.21 | -0.18 | +0.39 |
Drawdowns
IPAY vs. USO - Drawdown Comparison
The maximum IPAY drawdown since its inception was -51.75%, smaller than the maximum USO drawdown of -98.19%. Use the drawdown chart below to compare losses from any high point for IPAY and USO.
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Drawdown Indicators
| IPAY | USO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -51.75% | -98.19% | +46.44% |
Max Drawdown (1Y)Largest decline over 1 year | -31.31% | -20.39% | -10.92% |
Max Drawdown (3Y)Largest decline over 3 years | -32.74% | -26.05% | -6.69% |
Max Drawdown (5Y)Largest decline over 5 years | -51.49% | -36.23% | -15.26% |
Max Drawdown (10Y)Largest decline over 10 years | -51.75% | -86.75% | +35.00% |
Current DrawdownCurrent decline from peak | -39.51% | -85.01% | +45.50% |
Average DrawdownAverage peak-to-trough decline | -16.67% | -75.30% | +58.63% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 16.32% | 10.82% | +5.50% |
Volatility
IPAY vs. USO - Volatility Comparison
The current volatility for ETFMG Prime Mobile Payments ETF (IPAY) is 6.51%, while United States Oil Fund LP (USO) has a volatility of 14.87%. This indicates that IPAY 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
| IPAY | USO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.51% | 14.87% | -8.36% |
Volatility (6M)Calculated over the trailing 6-month period | 18.19% | 38.23% | -20.04% |
Volatility (1Y)Calculated over the trailing 1-year period | 23.70% | 44.20% | -20.50% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 26.04% | 36.06% | -10.02% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 25.38% | 39.00% | -13.62% |
IPAY vs. USO - Expense Ratio Comparison
IPAY has a 0.75% expense ratio, which is lower than USO's 0.86% expense ratio.
Dividends
IPAY vs. USO - Dividend Comparison
IPAY's dividend yield for the trailing twelve months is around 0.94%, while USO has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 |
|---|---|---|---|
IPAY ETFMG Prime Mobile Payments ETF | 0.94% | 0.79% | 0.77% |
USO United States Oil Fund LP | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
IPAY and USO have a correlation of -0.23, 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 IPAY (6.51%). In terms of maximum drawdown, IPAY dropped -51.75% vs USO's -98.19%.
On 10-year performance, IPAY leads with 5.98% vs 4.07% for USO. On fees, IPAY is cheaper at 0.75% per year. On volatility, IPAY has been the lower-risk option at 6.51%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, IPAY has performed better with a 5.98% return vs 4.07%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
IPAY is cheaper with a 0.75% expense ratio, compared with 0.86% for USO.
IPAY has the higher dividend yield at 0.94%, compared with 0.00% for USO.
IPAY is categorized as Technology Equities, while USO is Oil & Gas. IPAY tracks Prime Mobile Payments Index, while USO tracks Front Month Light Sweet Crude Oil. They also come from different issuers: ETFMG and USCF. Their fees differ too: 0.75% for IPAY and 0.86% for USO.
USO currently has the higher Sharpe Ratio (2.31 vs -0.98), 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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