ITB vs. USO
ITB (iShares U.S. Home Construction ETF) and USO (United States Oil Fund LP) are both exchange-traded funds - ITB is a Building & Construction fund tracking the Dow Jones U.S. Select Home Construction 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, ITB returned 13.43%/yr vs 5.64%/yr for USO. Their 0.15 correlation means their historical movements had little consistent relationship. ITB charges 0.38%/yr vs 0.86%/yr for USO.
Performance
ITB vs. USO - Performance Comparison
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Returns By Period
In the year-to-date period, ITB achieves a -1.69% return, which is significantly lower than USO's 86.77% return. Over the past 10 years, ITB has outperformed USO with an annualized return of 13.43%, while USO has yielded a comparatively lower 5.64% annualized return.
ITB
- 1D
- -1.18%
- 1M
- -8.32%
- 6M
- -7.21%
- YTD
- -1.69%
- 1Y
- -5.06%
- 3Y*
- 2.79%
- 5Y*
- 6.57%
- 10Y*
- 13.43%
- ALL TIME*
- 4.08%
USO
- 1D
- 1.33%
- 1M
- 24.23%
- 6M
- 62.44%
- YTD
- 86.77%
- 1Y
- 66.76%
- 3Y*
- 20.97%
- 5Y*
- 20.59%
- 10Y*
- 5.64%
- ALL TIME*
- -6.85%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $179.18M | $195.32M | $218.82M | |
| $968.42M | $871.56M | $931.57M |
ITB vs. USO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
ITB iShares U.S. Home Construction ETF | -1.69% | -5.26% | 2.06% | 68.91% | -26.26% | 49.25% | 26.42% | 48.70% | -30.92% | 59.65% |
USO United States Oil Fund LP | 86.77% | -8.46% | 13.35% | -4.94% | 28.97% | 64.68% | -67.79% | 32.61% | -19.57% | 2.47% |
Correlation
The correlation between ITB and USO is -0.34, meaning they have often moved in opposite directions in the past. This relationship can weaken or reverse as market conditions change.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | -0.34 |
Correlation (3Y) Balances recent behavior with more history. | -0.15 |
Correlation (5Y) Shows whether the relationship held over a longer period. | -0.03 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.06 |
Correlation (All Time) Calculated using the full available price history since May 5, 2006 | 0.15 |
The correlation between ITB and USO shifts across timeframes, from -0.34 (1 year) to 0.15 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
ITB vs. USO — Risk / Return Rank
ITB
USO
ITB vs. USO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares U.S. Home Construction ETF (ITB) 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.
| ITB | USO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.42 | ||
| Sortino ratioReturn per unit of downside risk | -1.89 | ||
| Omega ratioGain probability vs. loss probability | 1.01 | 1.25 | -0.24 |
| Calmar ratioReturn relative to maximum drawdown | -0.10 | 1.93 | -2.02 |
| Martin ratioReturn relative to average drawdown | -0.17 | 5.60 | -5.77 |
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Drawdowns
ITB vs. USO - Drawdown Comparison
The maximum ITB drawdown since its inception was -86.53%, smaller than the maximum USO drawdown of -98.19%. Use the drawdown chart below to compare losses from any high point for ITB and USO.
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Drawdown Indicators
| ITB | USO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -86.53% | -98.19% | +11.66% |
Max Drawdown (1Y)Largest decline over 1 year | -26.04% | -32.49% | +6.45% |
Max Drawdown (3Y)Largest decline over 3 years | -33.35% | -32.49% | -0.86% |
Max Drawdown (5Y)Largest decline over 5 years | -40.55% | -36.23% | -4.32% |
Max Drawdown (10Y)Largest decline over 10 years | -52.10% | -86.75% | +34.65% |
Current DrawdownCurrent decline from peak | -25.47% | -86.26% | +60.79% |
Average DrawdownAverage peak-to-trough decline | -36.98% | -75.38% | +38.40% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 14.54% | 12.03% | +2.51% |
Volatility
ITB vs. USO - Volatility Comparison
The current volatility for iShares U.S. Home Construction ETF (ITB) is 8.79%, while United States Oil Fund LP (USO) has a volatility of 17.73%. This indicates that ITB 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
| ITB | USO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 8.79% | 17.73% | -8.94% |
Volatility (6M)Calculated over the trailing 6-month period | 22.03% | 42.79% | -20.76% |
Volatility (1Y)Calculated over the trailing 1-year period | 29.51% | 46.91% | -17.40% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 29.57% | 37.06% | -7.49% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 30.20% | 39.29% | -9.09% |
ITB vs. USO - Expense Ratio Comparison
ITB has a 0.38% expense ratio, which is lower than USO's 0.86% expense ratio.
Dividends
ITB vs. USO - Dividend Comparison
ITB's dividend yield for the trailing twelve months is around 0.68%, while USO has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
ITB iShares U.S. Home Construction ETF | 0.68% | 1.67% | 0.46% | 0.48% | 0.86% | 0.37% | 0.46% | 0.50% | 0.63% | 0.28% | 0.43% | 0.34% |
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
ITB 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 (17.73%) compared to ITB (8.79%). In terms of maximum drawdown, ITB dropped -86.53% vs USO's -98.19%.
On 10-year performance, ITB leads with 13.43% vs 5.64% for USO. On fees, ITB is cheaper at 0.38% per year. On volatility, ITB has been the lower-risk option at 8.79%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, ITB has performed better with a 13.43% return vs 5.64%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
ITB is cheaper with a 0.38% expense ratio, compared with 0.86% for USO.
ITB has the higher dividend yield at 0.68%, compared with 0.00% for USO.
ITB is categorized as Building & Construction, while USO is Oil & Gas. ITB tracks Dow Jones U.S. Select Home Construction 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 ITB and 0.86% for USO.
USO currently has the higher Sharpe Ratio (1.34 vs -0.09), 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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