KTEC vs. USO
KTEC (KraneShares Hang Seng TECH Index ETF) and USO (United States Oil Fund LP) are both exchange-traded funds - KTEC is a China Equities fund tracking the Hang Seng Tech Index, while USO is a Oil & Gas fund tracking the Front Month Light Sweet Crude Oil. Both are passively managed. Over the past 3 years, KTEC returned 7.14%/yr vs 29.98%/yr for USO. At a 0.04 correlation, their price movements are largely independent. KTEC charges 0.69%/yr vs 0.86%/yr for USO.
Performance
KTEC vs. USO - Performance Comparison
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Returns By Period
In the year-to-date period, KTEC achieves a -11.17% return, which is significantly lower than USO's 103.67% return.
KTEC
- 1D
- -3.20%
- 1M
- -0.29%
- YTD
- -11.17%
- 6M
- -12.80%
- 1Y
- -8.17%
- 3Y*
- 7.14%
- 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%
KTEC vs. USO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
KTEC KraneShares Hang Seng TECH Index ETF | -11.17% | 21.01% | 16.13% | -10.41% | -26.12% | -29.50% |
USO United States Oil Fund LP | 103.67% | -8.46% | 13.35% | -4.94% | 28.97% | 14.25% |
Correlation
The correlation between KTEC and USO is -0.22, 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 | -0.22 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.00 |
Correlation (All Time) Calculated using the full available price history since Jun 10, 2021 | 0.04 |
The correlation between KTEC and USO shifts across timeframes, from -0.22 (1 year) to 0.04 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
KTEC vs. USO — Risk / Return Rank
KTEC
USO
KTEC vs. USO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for KraneShares Hang Seng TECH Index ETF (KTEC) 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.
| KTEC | USO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.60 | ||
| Sortino ratioReturn per unit of downside risk | -3.13 | ||
| Omega ratioGain probability vs. loss probability | 0.97 | 1.38 | -0.41 |
| Calmar ratioReturn relative to maximum drawdown | -0.28 | 5.01 | -5.29 |
| Martin ratioReturn relative to average drawdown | -0.50 | 9.42 | -9.92 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| KTEC | USO | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -0.29 | 2.31 | -2.60 |
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 | -0.24 | -0.18 | -0.06 |
Drawdowns
KTEC vs. USO - Drawdown Comparison
The maximum KTEC drawdown since its inception was -66.90%, smaller than the maximum USO drawdown of -98.19%. Use the drawdown chart below to compare losses from any high point for KTEC and USO.
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Drawdown Indicators
| KTEC | USO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -66.90% | -98.19% | +31.29% |
Max Drawdown (1Y)Largest decline over 1 year | -29.36% | -20.39% | -8.97% |
Max Drawdown (3Y)Largest decline over 3 years | -34.71% | -26.05% | -8.66% |
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 | -43.95% | -85.01% | +41.06% |
Average DrawdownAverage peak-to-trough decline | -43.97% | -75.30% | +31.33% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 16.26% | 10.82% | +5.44% |
Volatility
KTEC vs. USO - Volatility Comparison
The current volatility for KraneShares Hang Seng TECH Index ETF (KTEC) is 10.62%, while United States Oil Fund LP (USO) has a volatility of 14.87%. This indicates that KTEC 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
| KTEC | USO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 10.62% | 14.87% | -4.25% |
Volatility (6M)Calculated over the trailing 6-month period | 20.56% | 38.23% | -17.67% |
Volatility (1Y)Calculated over the trailing 1-year period | 28.01% | 44.20% | -16.19% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 43.22% | 36.06% | +7.16% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 43.22% | 39.00% | +4.22% |
KTEC vs. USO - Expense Ratio Comparison
KTEC has a 0.69% expense ratio, which is lower than USO's 0.86% expense ratio.
Dividends
KTEC vs. USO - Dividend Comparison
KTEC's dividend yield for the trailing twelve months is around 3.78%, while USO has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
KTEC KraneShares Hang Seng TECH Index ETF | 3.78% | 3.36% | 0.27% | 0.81% | 0.16% |
USO United States Oil Fund LP | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
KTEC and USO have a correlation of -0.22, 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 KTEC (10.62%). In terms of maximum drawdown, KTEC dropped -66.90% vs USO's -98.19%.
On 3-year performance, USO leads with 29.98% vs 7.14% for KTEC. On fees, KTEC is cheaper at 0.69% per year. On volatility, KTEC has been the lower-risk option at 10.62%. 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 29.98% return vs 7.14%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
KTEC is cheaper with a 0.69% expense ratio, compared with 0.86% for USO.
KTEC has the higher dividend yield at 3.78%, compared with 0.00% for USO.
KTEC is categorized as China Equities, while USO is Oil & Gas. KTEC tracks Hang Seng Tech Index, while USO tracks Front Month Light Sweet Crude Oil. They also come from different issuers: KraneShares and USCF. Their fees differ too: 0.69% for KTEC and 0.86% for USO.
USO currently has the higher Sharpe Ratio (2.31 vs -0.29), 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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