ISHP vs. USO
ISHP (First Trust S-Network Global E-Commerce ETF) and USO (United States Oil Fund LP) are both exchange-traded funds - ISHP is a Consumer Discretionary Equities fund tracking the S-Network Global E-Commerce Index, while USO is a Oil & Gas fund tracking the Front Month Light Sweet Crude Oil. Both are passively managed. Over the past 5 years, ISHP returned 1.58%/yr vs 23.92%/yr for USO. At a 0.12 correlation, their price movements are largely independent. ISHP charges 0.60%/yr vs 0.86%/yr for USO.
Performance
ISHP vs. USO - Performance Comparison
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Returns By Period
In the year-to-date period, ISHP achieves a -10.97% return, which is significantly lower than USO's 98.48% return.
ISHP
- 1D
- -0.10%
- 1M
- -1.59%
- YTD
- -10.97%
- 6M
- -10.01%
- 1Y
- -7.50%
- 3Y*
- 11.42%
- 5Y*
- 1.58%
- 10Y*
- —
USO
- 1D
- 1.31%
- 1M
- -3.87%
- YTD
- 98.48%
- 6M
- 95.54%
- 1Y
- 97.37%
- 3Y*
- 28.86%
- 5Y*
- 23.92%
- 10Y*
- 3.80%
ISHP vs. USO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
ISHP First Trust S-Network Global E-Commerce ETF | -10.97% | 12.27% | 24.17% | 22.24% | -33.79% | 30.09% | 15.33% | 19.74% | -2.04% | 7.66% |
USO United States Oil Fund LP | 98.48% | -8.46% | 13.35% | -4.94% | 28.97% | 64.68% | -67.79% | 32.61% | -19.57% | 2.47% |
Correlation
The correlation between ISHP and USO is -0.34, 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 | -0.34 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.04 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.05 |
Correlation (All Time) Calculated using the full available price history since Oct 12, 2016 | 0.12 |
The correlation between ISHP and USO shifts across timeframes, from -0.34 (1 year) to 0.12 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
ISHP vs. USO — Risk / Return Rank
ISHP
USO
ISHP vs. USO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for First Trust S-Network Global E-Commerce ETF (ISHP) 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.
| ISHP | USO | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | -0.44 | 2.22 | -2.66 |
Sortino ratioReturn per unit of downside risk | -0.50 | 2.81 | -3.31 |
Omega ratioGain probability vs. loss probability | 0.94 | 1.37 | -0.43 |
Calmar ratioReturn relative to maximum drawdown | -0.27 | 5.12 | -5.39 |
Martin ratioReturn relative to average drawdown | -0.59 | 9.66 | -10.25 |
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
| ISHP | USO | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -0.44 | 2.22 | -2.66 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.06 | 0.67 | -0.61 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.10 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.30 | -0.18 | +0.48 |
Drawdowns
ISHP vs. USO - Drawdown Comparison
The maximum ISHP drawdown since its inception was -47.57%, smaller than the maximum USO drawdown of -98.19%. Use the drawdown chart below to compare losses from any high point for ISHP and USO.
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Drawdown Indicators
| ISHP | USO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -47.57% | -98.19% | +50.62% |
Max Drawdown (1Y)Largest decline over 1 year | -24.75% | -20.39% | -4.36% |
Max Drawdown (3Y)Largest decline over 3 years | -24.75% | -26.05% | +1.30% |
Max Drawdown (5Y)Largest decline over 5 years | -47.57% | -36.23% | -11.34% |
Max Drawdown (10Y)Largest decline over 10 years | — | -86.75% | — |
Current DrawdownCurrent decline from peak | -18.21% | -85.39% | +67.18% |
Average DrawdownAverage peak-to-trough decline | -12.65% | -75.30% | +62.65% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 11.39% | 10.81% | +0.58% |
Volatility
ISHP vs. USO - Volatility Comparison
The current volatility for First Trust S-Network Global E-Commerce ETF (ISHP) is 3.98%, while United States Oil Fund LP (USO) has a volatility of 15.03%. This indicates that ISHP 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
| ISHP | USO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.98% | 15.03% | -11.05% |
Volatility (6M)Calculated over the trailing 6-month period | 13.27% | 38.18% | -24.91% |
Volatility (1Y)Calculated over the trailing 1-year period | 17.13% | 44.26% | -27.13% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 27.29% | 36.04% | -8.75% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 24.09% | 39.00% | -14.91% |
ISHP vs. USO - Expense Ratio Comparison
ISHP has a 0.60% expense ratio, which is lower than USO's 0.86% expense ratio.
Dividends
ISHP vs. USO - Dividend Comparison
ISHP's dividend yield for the trailing twelve months is around 1.50%, while USO has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
ISHP First Trust S-Network Global E-Commerce ETF | 1.50% | 1.34% | 1.02% | 1.58% | 0.76% | 0.53% | 0.82% | 1.16% | 0.89% | 1.65% | 0.23% |
USO United States Oil Fund LP | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
ISHP and USO have a correlation of -0.34, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
USO has higher volatility (15.03%) compared to ISHP (3.98%). In terms of maximum drawdown, ISHP dropped -47.57% vs USO's -98.19%.
On 5-year performance, USO leads with 23.92% vs 1.58% for ISHP. On fees, ISHP is cheaper at 0.60% per year. On volatility, ISHP has been the lower-risk option at 3.98%. 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 23.92% return vs 1.58%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
ISHP is cheaper with a 0.60% expense ratio, compared with 0.86% for USO.
ISHP has the higher dividend yield at 1.50%, compared with 0.00% for USO.
ISHP is categorized as Consumer Discretionary Equities, while USO is Oil & Gas. ISHP tracks S-Network Global E-Commerce Index, while USO tracks Front Month Light Sweet Crude Oil. They also come from different issuers: First Trust and USCF. Their fees differ too: 0.60% for ISHP and 0.86% for USO.
USO currently has the higher Sharpe Ratio (2.22 vs -0.44), 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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