JEDI vs. USO

Last updated Jun 4, 2026

JEDI (Defiance Drone & Modern Warfare ETF) and USO (United States Oil Fund LP) are both exchange-traded funds - JEDI is a Aerospace & Defense fund tracking the BITA Drone & Modern Warfare Select Index, while USO is a Oil & Gas fund tracking the Front Month Light Sweet Crude Oil. Both are passively managed. At a correlation of -0.08, they often move in opposite directions. JEDI charges 0.69%/yr vs 0.86%/yr for USO.

Performance

JEDI vs. USO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Defiance Drone & Modern Warfare ETF (JEDI) 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, JEDI achieves a 52.32% return, which is significantly lower than USO's 103.67% return.

JEDI

• 1D: -8.76%
• 1M: 33.56%
• YTD: 52.32%
• 6M: 62.01%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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)

JEDI vs. USO - Yearly Performance Comparison

	2026 (YTD)	2025
JEDI Defiance Drone & Modern Warfare ETF	52.32%	-3.73%
USO United States Oil Fund LP	103.67%	-10.21%

Correlation

The correlation between JEDI and USO is -0.08, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (All Time) Calculated using the full available price history since Sep 29, 2025	-0.08

Return for Risk

JEDI vs. USO — Risk / Return Rank

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

USO

USO Risk / Return Rank: 66
USO Sharpe Ratio Rank: 69
USO Sortino Ratio Rank: 60
USO Omega Ratio Rank: 61
USO Calmar Ratio Rank: 87
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.

JEDI vs. USO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Defiance Drone & Modern Warfare ETF (JEDI) 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.

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

Sharpe Ratios by Period

	JEDI	USO	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	2.31	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.68	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.10	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.60	-0.18	+1.77

Drawdowns

JEDI vs. USO - Drawdown Comparison

The maximum JEDI drawdown since its inception was -21.67%, smaller than the maximum USO drawdown of -98.19%. Use the drawdown chart below to compare losses from any high point for JEDI and USO.

Drawdown Indicators

	JEDI	USO	Difference
Max Drawdown Largest peak-to-trough decline	-21.67%	-98.19%	+76.52%
Max Drawdown (1Y) Largest decline over 1 year	—	-20.39%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-26.05%	—
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	-12.85%	-85.01%	+72.16%
Average Drawdown Average peak-to-trough decline	-9.16%	-75.30%	+66.14%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	10.82%	—

Volatility

Volatility by Period

	JEDI	USO	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	14.87%	—
Volatility (6M) Calculated over the trailing 6-month period	—	38.23%	—
Volatility (1Y) Calculated over the trailing 1-year period	47.61%	44.20%	+3.41%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	47.61%	36.06%	+11.55%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	47.61%	39.00%	+8.61%

JEDI vs. USO - Expense Ratio Comparison

JEDI has a 0.69% expense ratio, which is lower than USO's 0.86% expense ratio.

Dividends

JEDI vs. USO - Dividend Comparison

Neither JEDI nor USO has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both JEDI and USO in my portfolio?

JEDI and USO have a correlation of -0.08, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, JEDI or USO?

On fees, JEDI is cheaper at 0.69% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, JEDI or USO?

JEDI is cheaper with a 0.69% expense ratio, compared with 0.86% for USO.

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

JEDI and USO have nearly identical dividend yields, around 0.00%.

What is the main difference between JEDI and USO?

JEDI is categorized as Aerospace & Defense, while USO is Oil & Gas. JEDI tracks BITA Drone & Modern Warfare Select Index, while USO tracks Front Month Light Sweet Crude Oil. Their fees differ too: 0.69% for JEDI and 0.86% for USO.