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IXJ vs. USO
Performance
Return for Risk
Drawdowns
Volatility
Dividends

IXJ vs. USO

Last updated Jun 4, 2026

IXJ (iShares Global Healthcare ETF) and USO (United States Oil Fund LP) are both exchange-traded funds - IXJ is a Health & Biotech Equities fund tracking the S&P Global Healthcare Sector 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, IXJ returned 7.66%/yr vs 4.07%/yr for USO. At a 0.17 correlation, their price movements are largely independent. IXJ charges 0.46%/yr vs 0.86%/yr for USO.

Performance

IXJ vs. USO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares Global Healthcare ETF (IXJ) and United States Oil Fund LP (USO). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, IXJ achieves a -5.26% return, which is significantly lower than USO's 103.67% return. Over the past 10 years, IXJ has outperformed USO with an annualized return of 7.66%, while USO has yielded a comparatively lower 4.07% annualized return.

IXJ

1D
0.39%
1M
0.34%
YTD
-5.26%
6M
-4.88%
1Y
9.30%
3Y*
4.42%
5Y*
4.02%
10Y*
7.66%

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%
*Multi-year figures are annualized to reflect compound growth (CAGR)

IXJ vs. USO - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
IXJ
iShares Global Healthcare ETF		-5.26%14.99%0.55%3.62%-4.94%19.60%12.74%23.23%2.83%20.44%
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 IXJ and USO is -0.36, 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

-0.36

Correlation (3Y)
Calculated over the trailing 3-year period

-0.18

Correlation (5Y)
Calculated over the trailing 5-year period

-0.05

Correlation (10Y)
Calculated over the trailing 10-year period

0.07

Correlation (All Time)
Calculated using the full available price history since Apr 11, 2006

0.17

The correlation between IXJ and USO shifts across timeframes, from -0.36 (1 year) to 0.17 (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.

iShares Global Healthcare ETF

United States Oil Fund LP

Often compared with IXJ:
IXJ vs. XLVIXJ vs. VHTIXJ vs. XDWH.LIXJ vs. IHIIXJ vs. FHLCIXJ vs. IVVIXJ vs. HLTH.L
Often compared with USO:
USO vs. XLEUSO vs. BNOUSO vs. UCOUSO vs. USLUSO vs. OILKUSO vs. DBOUSO vs. WTI

Return for Risk

IXJ vs. USO — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
IXJ
IXJ Risk / Return Rank: 1919
Overall Rank
IXJ Sharpe Ratio Rank: 1919
Sharpe Ratio Rank
IXJ Sortino Ratio Rank: 2020
Sortino Ratio Rank
IXJ Omega Ratio Rank: 1818
Omega Ratio Rank
IXJ Calmar Ratio Rank: 2020
Calmar Ratio Rank
IXJ Martin Ratio Rank: 1919
Martin Ratio Rank
USO
USO Risk / Return Rank: 6666
Overall Rank
USO Sharpe Ratio Rank: 6969
Sharpe Ratio Rank
USO Sortino Ratio Rank: 6060
Sortino Ratio Rank
USO Omega Ratio Rank: 6161
Omega Ratio Rank
USO Calmar Ratio Rank: 8787
Calmar Ratio Rank
USO Martin Ratio Rank: 5454
Martin Ratio Rank
The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

IXJ vs. USO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares Global Healthcare ETF (IXJ) 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.

IXJUSODifference
Sharpe ratioReturn per unit of total volatility
0.64
2.31

-1.67

Sortino ratioReturn per unit of downside risk
1.06
2.89

-1.83

Omega ratioGain probability vs. loss probability

1.12

1.38

-0.26

Calmar ratioReturn relative to maximum drawdown

0.87

5.01

-4.14

Martin ratioReturn relative to average drawdown

2.11

9.42

-7.31

Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

IXJ vs. USO - Sharpe Ratio Comparison

The current IXJ Sharpe Ratio is 0.64, which is lower than the USO Sharpe Ratio of 2.31. The chart below compares the historical Sharpe Ratios of IXJ and USO, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

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Sharpe Ratios by Period

IXJUSODifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

0.64

2.31

-1.67

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.28

0.68

-0.40

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.49

0.10

+0.39

Sharpe Ratio (All Time)

Calculated using the full available price history

0.42

-0.18

+0.59

Drawdowns

IXJ vs. USO - Drawdown Comparison

The maximum IXJ drawdown since its inception was -40.60%, smaller than the maximum USO drawdown of -98.19%. Use the drawdown chart below to compare losses from any high point for IXJ and USO.

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Drawdown Indicators

IXJUSODifference

Max Drawdown

Largest peak-to-trough decline

-40.60%

-98.19%

+57.59%

Max Drawdown (1Y)

Largest decline over 1 year

-10.78%

-20.39%

+9.61%

Max Drawdown (3Y)

Largest decline over 3 years

-18.14%

-26.05%

+7.91%

Max Drawdown (5Y)

Largest decline over 5 years

-18.14%

-36.23%

+18.09%

Max Drawdown (10Y)

Largest decline over 10 years

-27.35%

-86.75%

+59.40%

Current Drawdown

Current decline from peak

-9.27%

-85.01%

+75.74%

Average Drawdown

Average peak-to-trough decline

-6.92%

-75.30%

+68.38%

Ulcer Index

Depth and duration of drawdowns from previous peaks

4.41%

10.82%

-6.41%

Volatility

IXJ vs. USO - Volatility Comparison

The current volatility for iShares Global Healthcare ETF (IXJ) is 3.75%, while United States Oil Fund LP (USO) has a volatility of 14.87%. This indicates that IXJ 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

IXJUSODifference

Volatility (1M)

Calculated over the trailing 1-month period

3.75%

14.87%

-11.12%

Volatility (6M)

Calculated over the trailing 6-month period

10.05%

38.23%

-28.18%

Volatility (1Y)

Calculated over the trailing 1-year period

14.55%

44.20%

-29.65%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

14.21%

36.06%

-21.85%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

15.67%

39.00%

-23.33%

IXJ vs. USO - Expense Ratio Comparison

IXJ has a 0.46% expense ratio, which is lower than USO's 0.86% expense ratio.

Dividends

IXJ vs. USO - Dividend Comparison

IXJ's dividend yield for the trailing twelve months is around 1.47%, while USO has not paid dividends to shareholders.

PositionTTM20252024202320222021202020192018201720162015
IXJ
iShares Global Healthcare ETF		1.47%1.40%1.50%1.38%1.17%1.12%1.27%1.42%2.11%1.46%1.73%2.85%
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

IXJ and USO have a correlation of -0.36, 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 IXJ (3.75%). In terms of maximum drawdown, IXJ dropped -40.60% vs USO's -98.19%.

On 10-year performance, IXJ leads with 7.66% vs 4.07% for USO. On fees, IXJ is cheaper at 0.46% per year. On volatility, IXJ has been the lower-risk option at 3.75%. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 10-year period, IXJ has performed better with a 7.66% return vs 4.07%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

IXJ is cheaper with a 0.46% expense ratio, compared with 0.86% for USO.

IXJ has the higher dividend yield at 1.47%, compared with 0.00% for USO.

IXJ is categorized as Health & Biotech Equities, while USO is Oil & Gas. IXJ tracks S&P Global Healthcare Sector Index, while USO tracks Front Month Light Sweet Crude Oil. They also come from different issuers: iShares and USCF. Their fees differ too: 0.46% for IXJ and 0.86% for USO.

USO currently has the higher Sharpe Ratio (2.31 vs 0.64), 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.

Portfolio Optimizer

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