IVRS vs. USO
IVRS (iShares Future Metaverse Tech And Communications ETF) and USO (United States Oil Fund LP) are both exchange-traded funds - IVRS is a Technology Equities fund tracking the Morningstar Global Metaverse & Virtual Interaction Select Index - Benchmark TR Net, while USO is a Oil & Gas fund tracking the Front Month Light Sweet Crude Oil. Both are passively managed. Over the past 3 years, IVRS returned 9.45%/yr vs 28.78%/yr for USO. At a correlation of -0.03, they often move in opposite directions. IVRS charges 0.47%/yr vs 0.86%/yr for USO.
Performance
IVRS vs. USO - Performance Comparison
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Returns By Period
In the year-to-date period, IVRS achieves a -5.16% return, which is significantly lower than USO's 97.72% return.
IVRS
- 1D
- 0.38%
- 1M
- 1.21%
- YTD
- -5.16%
- 6M
- -8.31%
- 1Y
- -1.69%
- 3Y*
- 9.45%
- 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%
IVRS vs. USO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
IVRS iShares Future Metaverse Tech And Communications ETF | -5.16% | 12.75% | 7.40% | 28.15% |
USO United States Oil Fund LP | 97.72% | -8.46% | 13.35% | -2.63% |
Correlation
The correlation between IVRS and USO is -0.27, 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 | -0.27 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.05 |
Correlation (All Time) Calculated using the full available price history since Feb 17, 2023 | -0.03 |
Over the past year, the inverse relationship between IVRS and USO has strengthened: their correlation has moved from -0.03 to -0.27, meaning they now move in opposite directions more often than their long-term average.
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Return for Risk
IVRS vs. USO — Risk / Return Rank
IVRS
USO
IVRS vs. USO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Future Metaverse Tech And Communications ETF (IVRS) 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.
| IVRS | USO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.28 | ||
| Sortino ratioReturn per unit of downside risk | -2.76 | ||
| Omega ratioGain probability vs. loss probability | 1.01 | 1.37 | -0.36 |
| Calmar ratioReturn relative to maximum drawdown | -0.05 | 4.79 | -4.85 |
| Martin ratioReturn relative to average drawdown | -0.12 | 9.00 | -9.11 |
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
| IVRS | USO | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -0.08 | 2.21 | -2.28 |
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 | 0.61 | -0.18 | +0.79 |
Drawdowns
IVRS vs. USO - Drawdown Comparison
The maximum IVRS drawdown since its inception was -31.43%, smaller than the maximum USO drawdown of -98.19%. Use the drawdown chart below to compare losses from any high point for IVRS and USO.
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Drawdown Indicators
| IVRS | USO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -31.43% | -98.19% | +66.76% |
Max Drawdown (1Y)Largest decline over 1 year | -31.43% | -20.39% | -11.04% |
Max Drawdown (3Y)Largest decline over 3 years | -31.43% | -26.05% | -5.38% |
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 | -18.41% | -85.45% | +67.04% |
Average DrawdownAverage peak-to-trough decline | -5.83% | -75.30% | +69.47% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 14.60% | 10.84% | +3.76% |
Volatility
IVRS vs. USO - Volatility Comparison
The current volatility for iShares Future Metaverse Tech And Communications ETF (IVRS) is 5.53%, while United States Oil Fund LP (USO) has a volatility of 14.97%. This indicates that IVRS 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
| IVRS | USO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.53% | 14.97% | -9.44% |
Volatility (6M)Calculated over the trailing 6-month period | 18.59% | 38.35% | -19.76% |
Volatility (1Y)Calculated over the trailing 1-year period | 21.85% | 44.32% | -22.47% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 20.48% | 36.09% | -15.61% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 20.48% | 39.00% | -18.52% |
IVRS vs. USO - Expense Ratio Comparison
IVRS has a 0.47% expense ratio, which is lower than USO's 0.86% expense ratio.
Dividends
IVRS vs. USO - Dividend Comparison
IVRS's dividend yield for the trailing twelve months is around 8.31%, while USO has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 |
|---|---|---|---|---|
IVRS iShares Future Metaverse Tech And Communications ETF | 8.31% | 7.88% | 6.65% | 0.48% |
USO United States Oil Fund LP | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
IVRS and USO have a correlation of -0.27, 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 IVRS (5.53%). In terms of maximum drawdown, IVRS dropped -31.43% vs USO's -98.19%.
On 3-year performance, USO leads with 28.78% vs 9.45% for IVRS. On fees, IVRS is cheaper at 0.47% per year. On volatility, IVRS has been the lower-risk option at 5.53%. 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 9.45%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
IVRS is cheaper with a 0.47% expense ratio, compared with 0.86% for USO.
IVRS has the higher dividend yield at 8.31%, compared with 0.00% for USO.
IVRS is categorized as Technology Equities, while USO is Oil & Gas. IVRS tracks Morningstar Global Metaverse & Virtual Interaction Select Index - Benchmark TR Net, while USO tracks Front Month Light Sweet Crude Oil. They also come from different issuers: iShares and USCF. Their fees differ too: 0.47% for IVRS and 0.86% for USO.
USO currently has the higher Sharpe Ratio (2.21 vs -0.08), 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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