LFAI vs. USO

Last updated Jun 4, 2026

LFAI (LifeX 2050 Longevity Income ETF) and USO (United States Oil Fund LP) are both exchange-traded funds - LFAI is a Government Bonds fund actively managed by Stone Ridge, while USO is a Oil & Gas fund tracking the Front Month Light Sweet Crude Oil. LFAI is actively managed, while USO is passively managed. Over the past year, LFAI returned 4.26% vs 101.55% for USO. At a correlation of -0.30, they often move in opposite directions. LFAI charges 0.25%/yr vs 0.86%/yr for USO.

Performance

LFAI vs. USO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in LifeX 2050 Longevity Income ETF (LFAI) 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, LFAI achieves a -0.43% return, which is significantly lower than USO's 103.67% return.

LFAI

• 1D: -0.31%
• 1M: 0.37%
• YTD: -0.43%
• 6M: -1.22%
• 1Y: 4.26%
• 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)

LFAI vs. USO - Yearly Performance Comparison

	2026 (YTD)	2025	2024
LFAI LifeX 2050 Longevity Income ETF	-0.43%	6.06%	-7.12%
USO United States Oil Fund LP	103.67%	-8.46%	6.59%

Correlation

The correlation between LFAI and USO is -0.39, 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	-0.39
Correlation (All Time) Calculated using the full available price history since Sep 17, 2024	-0.30

Return for Risk

LFAI vs. USO — Risk / Return Rank

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

LFAI

LFAI Risk / Return Rank: 20
LFAI Sharpe Ratio Rank: 21
LFAI Sortino Ratio Rank: 20
LFAI Omega Ratio Rank: 19
LFAI Calmar Ratio Rank: 20
LFAI Martin Ratio Rank: 20

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.

LFAI vs. USO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for LifeX 2050 Longevity Income ETF (LFAI) 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.

	LFAI	USO	Difference
Sharpe ratio: Return per unit of total volatility	0.68	2.31	-1.63
Sortino ratio: Return per unit of downside risk	1.02	2.89	-1.87
Omega ratio: Gain probability vs. loss probability	1.12	1.38	-0.27
Calmar ratio: Return relative to maximum drawdown	0.81	5.01	-4.20
Martin ratio: Return relative to average drawdown	2.28	9.42	-7.13
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

LFAI vs. USO - Sharpe Ratio Comparison

The current LFAI Sharpe Ratio is 0.68, which is lower than the USO Sharpe Ratio of 2.31. The chart below compares the historical Sharpe Ratios of LFAI 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

	LFAI	USO	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.68	2.31	-1.63
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	-0.16	-0.18	+0.02

Drawdowns

LFAI vs. USO - Drawdown Comparison

The maximum LFAI drawdown since its inception was -8.64%, smaller than the maximum USO drawdown of -98.19%. Use the drawdown chart below to compare losses from any high point for LFAI and USO.

Drawdown Indicators

	LFAI	USO	Difference
Max Drawdown Largest peak-to-trough decline	-8.64%	-98.19%	+89.55%
Max Drawdown (1Y) Largest decline over 1 year	-5.30%	-20.39%	+15.09%
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	-3.38%	-85.01%	+81.63%
Average Drawdown Average peak-to-trough decline	-3.52%	-75.30%	+71.78%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.87%	10.82%	-8.95%

Volatility

LFAI vs. USO - Volatility Comparison

The current volatility for LifeX 2050 Longevity Income ETF (LFAI) is 2.03%, while United States Oil Fund LP (USO) has a volatility of 14.87%. This indicates that LFAI 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

	LFAI	USO	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.03%	14.87%	-12.84%
Volatility (6M) Calculated over the trailing 6-month period	4.42%	38.23%	-33.81%
Volatility (1Y) Calculated over the trailing 1-year period	6.30%	44.20%	-37.90%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	7.16%	36.06%	-28.90%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	7.16%	39.00%	-31.84%

LFAI vs. USO - Expense Ratio Comparison

LFAI has a 0.25% expense ratio, which is lower than USO's 0.86% expense ratio.

Dividends

LFAI vs. USO - Dividend Comparison

LFAI's dividend yield for the trailing twelve months is around 13.55%, while USO has not paid dividends to shareholders.

Position	TTM	2025	2024
LFAI LifeX 2050 Longevity Income ETF	13.55%	16.48%	1.91%
USO United States Oil Fund LP	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both LFAI and USO in my portfolio?

LFAI and USO have a correlation of -0.39, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, LFAI or USO?

USO has higher volatility (14.87%) compared to LFAI (2.03%). In terms of maximum drawdown, LFAI dropped -8.64% vs USO's -98.19%.

Which ETF is better, LFAI or USO?

On 1-year performance, USO leads with 101.55% vs 4.26% for LFAI. On fees, LFAI is cheaper at 0.25% per year. On volatility, LFAI has been the lower-risk option at 2.03%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, LFAI or USO?

Over the 1-year period, USO has performed better with a 101.55% return vs 4.26%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, LFAI or USO?

LFAI is cheaper with a 0.25% expense ratio, compared with 0.86% for USO.

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

LFAI has the higher dividend yield at 13.55%, compared with 0.00% for USO.

What is the main difference between LFAI and USO?

LFAI is categorized as Government Bonds, while USO is Oil & Gas. They also come from different issuers: Stone Ridge and USCF. Their fees differ too: 0.25% for LFAI and 0.86% for USO.

Which has better risk-adjusted returns?

USO currently has the higher Sharpe Ratio (2.31 vs 0.68), 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.