JUNP vs. USO

Last updated Jun 4, 2026

JUNP (PGIM S&P 500 Buffer 12 ETF - June) and USO (United States Oil Fund LP) are both exchange-traded funds - JUNP is a Defined Outcome fund actively managed by PGIM, while USO is a Oil & Gas fund tracking the Front Month Light Sweet Crude Oil. JUNP is actively managed, while USO is passively managed. Over the past year, JUNP returned 12.99% vs 101.55% for USO. At a correlation of -0.06, they often move in opposite directions. JUNP charges 0.50%/yr vs 0.86%/yr for USO.

Performance

JUNP vs. USO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in PGIM S&P 500 Buffer 12 ETF - June (JUNP) 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, JUNP achieves a 3.86% return, which is significantly lower than USO's 103.67% return.

JUNP

• 1D: -0.31%
• 1M: 0.44%
• YTD: 3.86%
• 6M: 4.77%
• 1Y: 12.99%
• 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)

JUNP vs. USO - Yearly Performance Comparison

	2026 (YTD)	2025	2024
JUNP PGIM S&P 500 Buffer 12 ETF - June	3.86%	12.86%	8.33%
USO United States Oil Fund LP	103.67%	-8.46%	5.18%

Correlation

The correlation between JUNP and USO is -0.25, 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	-0.25
Correlation (All Time) Calculated using the full available price history since Jun 4, 2024	-0.06

The correlation between JUNP and USO shifts across timeframes, from -0.25 (1 year) to -0.06 (all time), reflecting how their relationship changes across market environments.

Return for Risk

JUNP vs. USO — Risk / Return Rank

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

JUNP

JUNP Risk / Return Rank: 81
JUNP Sharpe Ratio Rank: 75
JUNP Sortino Ratio Rank: 81
JUNP Omega Ratio Rank: 85
JUNP Calmar Ratio Rank: 75
JUNP Martin Ratio Rank: 91

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.

JUNP vs. USO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for PGIM S&P 500 Buffer 12 ETF - June (JUNP) 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.

	JUNP	USO	Difference
Sharpe ratio Return per unit of total volatility	2.40	2.31	+0.09
Sortino ratio Return per unit of downside risk	3.56	2.89	+0.67
Omega ratio Gain probability vs. loss probability	1.51	1.38	+0.13
Calmar ratio Return relative to maximum drawdown	3.74	5.01	-1.27
Martin ratio Return relative to average drawdown	21.68	9.42	+12.26
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

JUNP vs. USO - Sharpe Ratio Comparison

The current JUNP Sharpe Ratio is 2.40, which is comparable to the USO Sharpe Ratio of 2.31. The chart below compares the historical Sharpe Ratios of JUNP 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

	JUNP	USO	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.40	2.31	+0.09
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	1.36	-0.18	+1.54

Drawdowns

JUNP vs. USO - Drawdown Comparison

The maximum JUNP drawdown since its inception was -11.23%, smaller than the maximum USO drawdown of -98.19%. Use the drawdown chart below to compare losses from any high point for JUNP and USO.

Drawdown Indicators

	JUNP	USO	Difference
Max Drawdown Largest peak-to-trough decline	-11.23%	-98.19%	+86.96%
Max Drawdown (1Y) Largest decline over 1 year	-3.49%	-20.39%	+16.90%
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	-0.31%	-85.01%	+84.70%
Average Drawdown Average peak-to-trough decline	-0.88%	-75.30%	+74.42%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.60%	10.82%	-10.22%

Volatility

JUNP vs. USO - Volatility Comparison

The current volatility for PGIM S&P 500 Buffer 12 ETF - June (JUNP) is 0.85%, while United States Oil Fund LP (USO) has a volatility of 14.87%. This indicates that JUNP 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

	JUNP	USO	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.85%	14.87%	-14.02%
Volatility (6M) Calculated over the trailing 6-month period	4.14%	38.23%	-34.09%
Volatility (1Y) Calculated over the trailing 1-year period	5.44%	44.20%	-38.76%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	9.38%	36.06%	-26.68%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	9.38%	39.00%	-29.62%

JUNP vs. USO - Expense Ratio Comparison

JUNP has a 0.50% expense ratio, which is lower than USO's 0.86% expense ratio.

Dividends

JUNP vs. USO - Dividend Comparison

Neither JUNP nor USO has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both JUNP and USO in my portfolio?

JUNP and USO have a correlation of -0.25, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, JUNP or USO?

USO has higher volatility (14.87%) compared to JUNP (0.85%). In terms of maximum drawdown, JUNP dropped -11.23% vs USO's -98.19%.

Which ETF is better, JUNP or USO?

On 1-year performance, USO leads with 101.55% vs 12.99% for JUNP. On fees, JUNP is cheaper at 0.50% per year. On volatility, JUNP has been the lower-risk option at 0.85%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, JUNP or USO?

Over the 1-year period, USO has performed better with a 101.55% return vs 12.99%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, JUNP or USO?

JUNP is cheaper with a 0.50% expense ratio, compared with 0.86% for USO.

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

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

What is the main difference between JUNP and USO?

JUNP is categorized as Defined Outcome, while USO is Oil & Gas. They also come from different issuers: PGIM and USCF. Their fees differ too: 0.50% for JUNP and 0.86% for USO.

Which has better risk-adjusted returns?

JUNP currently has the higher Sharpe Ratio (2.40 vs 2.31), 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.