ITA vs. USO
ITA (iShares U.S. Aerospace & Defense ETF) and USO (United States Oil Fund LP) are both exchange-traded funds - ITA is a Aerospace & Defense fund tracking the Dow Jones U.S. Select Aerospace & Defense 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, ITA returned 15.34%/yr vs 2.94%/yr for USO. At a 0.24 correlation, their price movements are largely independent. ITA charges 0.38%/yr vs 0.86%/yr for USO.
Performance
ITA vs. USO - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, ITA achieves a 8.97% return, which is significantly lower than USO's 81.36% return. Over the past 10 years, ITA has outperformed USO with an annualized return of 15.34%, while USO has yielded a comparatively lower 2.94% annualized return.
ITA
- 1D
- -0.95%
- 1M
- 4.16%
- YTD
- 8.97%
- 6M
- 11.71%
- 1Y
- 30.42%
- 3Y*
- 27.30%
- 5Y*
- 16.86%
- 10Y*
- 15.34%
USO
- 1D
- -2.64%
- 1M
- -12.29%
- YTD
- 81.36%
- 6M
- 82.28%
- 1Y
- 56.36%
- 3Y*
- 26.38%
- 5Y*
- 21.14%
- 10Y*
- 2.94%
ITA vs. USO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
ITA iShares U.S. Aerospace & Defense ETF | 8.97% | 48.64% | 15.81% | 14.33% | 9.96% | 9.39% | -13.57% | 30.51% | -7.22% | 35.24% |
USO United States Oil Fund LP | 81.36% | -8.46% | 13.35% | -4.94% | 28.97% | 64.68% | -67.79% | 32.61% | -19.57% | 2.47% |
Correlation
The correlation between ITA and USO is -0.14, 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 | -0.14 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.01 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.12 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.18 |
Correlation (All Time) Calculated using the full available price history since May 5, 2006 | 0.24 |
The correlation between ITA and USO shifts across timeframes, from -0.14 (1 year) to 0.24 (all time), reflecting how their relationship changes across market environments.
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
ITA vs. USO — Risk / Return Rank
ITA
USO
ITA vs. USO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares U.S. Aerospace & Defense ETF (ITA) 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.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| ITA | USO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.08 | ||
| Sortino ratioReturn per unit of downside risk | -0.05 | ||
| Omega ratioGain probability vs. loss probability | 1.25 | 1.28 | -0.03 |
| Calmar ratioReturn relative to maximum drawdown | 1.97 | 3.31 | -1.34 |
| Martin ratioReturn relative to average drawdown | 5.20 | 6.09 | -0.89 |
Loading charts...
Drawdowns
ITA vs. USO - Drawdown Comparison
The maximum ITA drawdown since its inception was -59.72%, smaller than the maximum USO drawdown of -98.19%. Use the drawdown chart below to compare losses from any high point for ITA and USO.
Loading charts...
Drawdown Indicators
| ITA | USO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -59.72% | -98.19% | +38.47% |
Max Drawdown (1Y)Largest decline over 1 year | -15.82% | -20.39% | +4.57% |
Max Drawdown (3Y)Largest decline over 3 years | -15.82% | -26.05% | +10.23% |
Max Drawdown (5Y)Largest decline over 5 years | -18.72% | -36.23% | +17.51% |
Max Drawdown (10Y)Largest decline over 10 years | -51.00% | -86.75% | +35.75% |
Current DrawdownCurrent decline from peak | -6.64% | -86.65% | +80.01% |
Average DrawdownAverage peak-to-trough decline | -9.45% | -75.30% | +65.85% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 5.97% | 11.06% | -5.09% |
Volatility
ITA vs. USO - Volatility Comparison
The current volatility for iShares U.S. Aerospace & Defense ETF (ITA) is 9.07%, while United States Oil Fund LP (USO) has a volatility of 13.27%. This indicates that ITA 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
| ITA | USO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 9.07% | 13.27% | -4.20% |
Volatility (6M)Calculated over the trailing 6-month period | 18.47% | 38.99% | -20.52% |
Volatility (1Y)Calculated over the trailing 1-year period | 21.74% | 44.64% | -22.90% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 20.21% | 36.20% | -15.99% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 23.22% | 39.03% | -15.81% |
ITA vs. USO - Expense Ratio Comparison
ITA has a 0.38% expense ratio, which is lower than USO's 0.86% expense ratio.
Dividends
ITA vs. USO - Dividend Comparison
ITA's dividend yield for the trailing twelve months is around 0.46%, while USO has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
ITA iShares U.S. Aerospace & Defense ETF | 0.46% | 0.55% | 0.85% | 0.93% | 0.95% | 0.82% | 1.07% | 1.54% | 1.13% | 0.91% | 1.07% | 1.04% |
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% | 0.00% |
Frequently Asked Questions
ITA and USO have a correlation of -0.14, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
USO has higher volatility (13.27%) compared to ITA (9.07%). In terms of maximum drawdown, ITA dropped -59.72% vs USO's -98.19%.
On 10-year performance, ITA leads with 15.34% vs 2.94% for USO. On fees, ITA is cheaper at 0.38% per year. On volatility, ITA has been the lower-risk option at 9.07%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, ITA has performed better with a 15.34% return vs 2.94%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
ITA is cheaper with a 0.38% expense ratio, compared with 0.86% for USO.
ITA has the higher dividend yield at 0.46%, compared with 0.00% for USO.
ITA is categorized as Aerospace & Defense, while USO is Oil & Gas. ITA tracks Dow Jones U.S. Select Aerospace & Defense Index, while USO tracks Front Month Light Sweet Crude Oil. They also come from different issuers: iShares and USCF. Their fees differ too: 0.38% for ITA and 0.86% for USO.
USO currently has the higher Sharpe Ratio (1.51 vs 1.43), 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 ITA 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