JAVA vs. USO

Last updated Jun 5, 2026

JAVA (JPMorgan Active Value ETF) and USO (United States Oil Fund LP) are both exchange-traded funds - JAVA is a Large Cap Value Equities fund actively managed by JPMorgan, while USO is a Oil & Gas fund tracking the Front Month Light Sweet Crude Oil. JAVA is actively managed, while USO is passively managed. Over the past 3 years, JAVA returned 16.85%/yr vs 28.78%/yr for USO. At a 0.14 correlation, their price movements are largely independent. JAVA charges 0.44%/yr vs 0.86%/yr for USO.

Performance

JAVA vs. USO - Performance Comparison

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

Returns By Period

In the year-to-date period, JAVA achieves a 9.58% return, which is significantly lower than USO's 97.72% return.

JAVA

• 1D: 0.99%
• 1M: 3.08%
• YTD: 9.58%
• 6M: 10.30%
• 1Y: 25.44%
• 3Y*: 16.85%
• 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%

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

JAVA vs. USO - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
JAVA JPMorgan Active Value ETF	9.58%	14.92%	15.52%	10.46%	-0.88%	5.23%
USO United States Oil Fund LP	97.72%	-8.46%	13.35%	-4.94%	28.97%	-2.28%

Correlation

The correlation between JAVA and USO is -0.23, 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	-0.23
Correlation (3Y) Calculated over the trailing 3-year period	-0.01
Correlation (All Time) Calculated using the full available price history since Oct 6, 2021	0.14

The correlation between JAVA and USO shifts across timeframes, from -0.23 (1 year) to 0.14 (all time), reflecting how their relationship changes across market environments.

Return for Risk

JAVA vs. USO — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

JAVA

JAVA Risk / Return Rank: 68
JAVA Sharpe Ratio Rank: 71
JAVA Sortino Ratio Rank: 73
JAVA Omega Ratio Rank: 69
JAVA Calmar Ratio Rank: 63
JAVA Martin Ratio Rank: 64

USO

USO Risk / Return Rank: 66
USO Sharpe Ratio Rank: 68
USO Sortino Ratio Rank: 61
USO Omega Ratio Rank: 62
USO Calmar Ratio Rank: 86
USO Martin Ratio Rank: 54

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.

JAVA vs. USO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for JPMorgan Active Value ETF (JAVA) 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.

	JAVA	USO	Difference
Sharpe ratio: Return per unit of total volatility	2.28	2.21	+0.08
Sortino ratio: Return per unit of downside risk	3.24	2.80	+0.44
Omega ratio: Gain probability vs. loss probability	1.40	1.37	+0.04
Calmar ratio: Return relative to maximum drawdown	3.08	4.79	-1.71
Martin ratio: Return relative to average drawdown	11.37	9.00	+2.37
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

JAVA vs. USO - Sharpe Ratio Comparison

The current JAVA Sharpe Ratio is 2.28, which is comparable to the USO Sharpe Ratio of 2.21. The chart below compares the historical Sharpe Ratios of JAVA 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.

Sharpe Ratios by Period

	JAVA	USO	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.28	2.21	+0.08
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	0.80	-0.18	+0.97

Drawdowns

JAVA vs. USO - Drawdown Comparison

The maximum JAVA drawdown since its inception was -16.54%, smaller than the maximum USO drawdown of -98.19%. Use the drawdown chart below to compare losses from any high point for JAVA and USO.

Drawdown Indicators

	JAVA	USO	Difference
Max Drawdown Largest peak-to-trough decline	-16.54%	-98.19%	+81.65%
Max Drawdown (1Y) Largest decline over 1 year	-8.29%	-20.39%	+12.10%
Max Drawdown (3Y) Largest decline over 3 years	-16.54%	-26.05%	+9.51%
Max Drawdown (5Y) Largest decline over 5 years	—	-36.23%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-86.75%	—
Current Drawdown Current decline from peak	0.00%	-85.45%	+85.45%
Average Drawdown Average peak-to-trough decline	-3.63%	-75.30%	+71.67%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.24%	10.84%	-8.60%

Volatility

JAVA vs. USO - Volatility Comparison

The current volatility for JPMorgan Active Value ETF (JAVA) is 2.70%, while United States Oil Fund LP (USO) has a volatility of 14.97%. This indicates that JAVA 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.

Volatility by Period

	JAVA	USO	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.70%	14.97%	-12.27%
Volatility (6M) Calculated over the trailing 6-month period	8.45%	38.35%	-29.90%
Volatility (1Y) Calculated over the trailing 1-year period	11.20%	44.32%	-33.12%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.80%	36.09%	-21.29%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	14.80%	39.00%	-24.20%

JAVA vs. USO - Expense Ratio Comparison

JAVA has a 0.44% expense ratio, which is lower than USO's 0.86% expense ratio.

Dividends

JAVA vs. USO - Dividend Comparison

JAVA's dividend yield for the trailing twelve months is around 1.24%, while USO has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021
JAVA JPMorgan Active Value ETF	1.24%	1.34%	1.45%	1.65%	1.25%	0.48%
USO United States Oil Fund LP	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both JAVA and USO in my portfolio?

JAVA and USO have a correlation of -0.23, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, JAVA or USO?

USO has higher volatility (14.97%) compared to JAVA (2.70%). In terms of maximum drawdown, JAVA dropped -16.54% vs USO's -98.19%.

Which ETF is better, JAVA or USO?

On 3-year performance, USO leads with 28.78% vs 16.85% for JAVA. On fees, JAVA is cheaper at 0.44% per year. On volatility, JAVA has been the lower-risk option at 2.70%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, JAVA or USO?

Over the 3-year period, USO has performed better with a 28.78% return vs 16.85%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, JAVA or USO?

JAVA is cheaper with a 0.44% expense ratio, compared with 0.86% for USO.

Which ETF pays a higher dividend yield, JAVA or USO?

JAVA has the higher dividend yield at 1.24%, compared with 0.00% for USO.

What is the main difference between JAVA and USO?

JAVA is categorized as Large Cap Value Equities, while USO is Oil & Gas. They also come from different issuers: JPMorgan and USCF. Their fees differ too: 0.44% for JAVA and 0.86% for USO.

Which has better risk-adjusted returns?

JAVA currently has the higher Sharpe Ratio (2.28 vs 2.21), 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.