JPLD vs. USO
JPLD (JPMorgan Limited Duration Bond ETF) and USO (United States Oil Fund LP) are both exchange-traded funds - JPLD is a Short-Term Bond fund actively managed by JPMorgan, while USO is a Oil & Gas fund tracking the Front Month Light Sweet Crude Oil. JPLD is actively managed, while USO is passively managed. Over the past 3 years, JPLD returned 5.75%/yr vs 20.97%/yr for USO. Their -0.21 correlation means they have often moved in opposite directions in the past. JPLD charges 0.24%/yr vs 0.86%/yr for USO.
Performance
JPLD vs. USO - Performance Comparison
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Returns By Period
In the year-to-date period, JPLD achieves a 1.57% return, which is significantly lower than USO's 86.77% return.
JPLD
- 1D
- 0.04%
- 1M
- 0.15%
- 6M
- 0.97%
- YTD
- 1.57%
- 1Y
- 3.80%
- 3Y*
- 5.75%
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 5.75%
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) |
|---|---|---|---|
| $14.99M | $21.36M | $24.34M | |
| $968.42M | $871.56M | $931.57M |
JPLD vs. USO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
JPLD JPMorgan Limited Duration Bond ETF | 1.57% | 6.01% | 6.49% | 3.15% |
USO United States Oil Fund LP | 86.77% | -8.46% | 13.35% | -7.55% |
Correlation
The correlation between JPLD and USO is -0.31, 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. | -0.31 |
Correlation (3Y) Balances recent behavior with more history. | -0.20 |
Correlation (All Time) Calculated using the full available price history since Jul 31, 2023 | -0.21 |
The correlation between JPLD and USO shifts across timeframes, from -0.31 (1 year) to -0.20 (3 years), reflecting how their relationship changes across market environments.
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Return for Risk
JPLD vs. USO — Risk / Return Rank
JPLD
USO
JPLD vs. USO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for JPMorgan Limited Duration Bond ETF (JPLD) 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.
| JPLD | USO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.44 | ||
| Sortino ratioReturn per unit of downside risk | +2.27 | ||
| Omega ratioGain probability vs. loss probability | 1.57 | 1.25 | +0.32 |
| Calmar ratioReturn relative to maximum drawdown | 4.12 | 1.93 | +2.19 |
| Martin ratioReturn relative to average drawdown | 18.72 | 5.60 | +13.13 |
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Drawdowns
JPLD vs. USO - Drawdown Comparison
The maximum JPLD drawdown since its inception was -1.17%, smaller than the maximum USO drawdown of -98.19%. Use the drawdown chart below to compare losses from any high point for JPLD and USO.
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Drawdown Indicators
| JPLD | USO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -1.17% | -98.19% | +97.02% |
Max Drawdown (1Y)Largest decline over 1 year | -1.00% | -32.49% | +31.49% |
Max Drawdown (3Y)Largest decline over 3 years | -1.17% | -32.49% | +31.32% |
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 | 0.00% | -86.26% | +86.26% |
Average DrawdownAverage peak-to-trough decline | -0.15% | -75.38% | +75.23% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.22% | 12.03% | -11.81% |
Volatility
JPLD vs. USO - Volatility Comparison
The current volatility for JPMorgan Limited Duration Bond ETF (JPLD) is 0.36%, while United States Oil Fund LP (USO) has a volatility of 17.73%. This indicates that JPLD 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
| JPLD | USO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.36% | 17.73% | -17.37% |
Volatility (6M)Calculated over the trailing 6-month period | 1.09% | 42.79% | -41.70% |
Volatility (1Y)Calculated over the trailing 1-year period | 1.49% | 46.91% | -45.42% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 1.82% | 37.06% | -35.24% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 1.82% | 39.29% | -37.47% |
JPLD vs. USO - Expense Ratio Comparison
JPLD has a 0.24% expense ratio, which is lower than USO's 0.86% expense ratio.
Dividends
JPLD vs. USO - Dividend Comparison
JPLD's dividend yield for the trailing twelve months is around 4.27%, while USO has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 |
|---|---|---|---|---|
JPLD JPMorgan Limited Duration Bond ETF | 3.91% | 4.24% | 4.47% | 1.83% |
USO United States Oil Fund LP | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
JPLD and USO have a correlation of -0.31, 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 JPLD (0.36%). In terms of maximum drawdown, JPLD dropped -1.17% vs USO's -98.19%.
On 3-year performance, USO leads with 20.97% vs 5.75% for JPLD. On fees, JPLD is cheaper at 0.24% per year. On volatility, JPLD has been the lower-risk option at 0.36%. 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 20.97% return vs 5.75%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
JPLD is cheaper with a 0.24% expense ratio, compared with 0.86% for USO.
JPLD has the higher dividend yield at 3.91%, compared with 0.00% for USO.
JPLD is categorized as Short-Term Bond, while USO is Oil & Gas. They also come from different issuers: JPMorgan and USCF. Their fees differ too: 0.24% for JPLD and 0.86% for USO.
JPLD currently has the higher Sharpe Ratio (2.78 vs 1.34), 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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