LITE vs. USO

Last updated Jun 4, 2026

LITE (Lumentum Holdings Inc.) is a stock, while USO (United States Oil Fund LP) is Oil & Gas fund tracking the Front Month Light Sweet Crude Oil. Over the past 10 years, LITE returned 43.96%/yr vs 4.07%/yr for USO. At a 0.10 correlation, their price movements are largely independent.

Performance

LITE vs. USO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Lumentum Holdings Inc. (LITE) 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, LITE achieves a 154.48% return, which is significantly higher than USO's 103.67% return. Over the past 10 years, LITE has outperformed USO with an annualized return of 43.96%, while USO has yielded a comparatively lower 4.07% annualized return.

LITE

• 1D: -8.86%
• 1M: -3.91%
• YTD: 154.48%
• 6M: 209.59%
• 1Y: 1,107.98%
• 3Y*: 160.60%
• 5Y*: 62.83%
• 10Y*: 43.96%

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)

LITE vs. USO - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
LITE Lumentum Holdings Inc.	154.48%	339.06%	60.15%	0.48%	-50.68%	11.57%	19.55%	88.76%	-14.09%	26.52%
USO United States Oil Fund LP	103.67%	-8.46%	13.35%	-4.94%	28.97%	64.68%	-67.79%	32.61%	-19.57%	2.47%

Correlation

The correlation between LITE and USO is -0.09, 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 (1Y) Calculated over the trailing 1-year period	-0.09
Correlation (3Y) Calculated over the trailing 3-year period	0.01
Correlation (5Y) Calculated over the trailing 5-year period	0.05
Correlation (10Y) Calculated over the trailing 10-year period	0.10
Correlation (All Time) Calculated using the full available price history since Aug 5, 2015	0.10

The correlation between LITE and USO shifts across timeframes, from -0.09 (1 year) to 0.10 (10 years), reflecting how their relationship changes across market environments.

Return for Risk

LITE vs. USO — Risk / Return Rank

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

LITE

LITE Risk / Return Rank: 99
LITE Sharpe Ratio Rank: 100
LITE Sortino Ratio Rank: 99
LITE Omega Ratio Rank: 98
LITE Calmar Ratio Rank: 100
LITE Martin Ratio Rank: 100

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.

LITE vs. USO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Lumentum Holdings Inc. (LITE) 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.

	LITE	USO	Difference
Sharpe ratio: Return per unit of total volatility	13.13	2.31	+10.82
Sortino ratio: Return per unit of downside risk	5.79	2.89	+2.90
Omega ratio: Gain probability vs. loss probability	1.77	1.38	+0.39
Calmar ratio: Return relative to maximum drawdown	39.02	5.01	+34.02
Martin ratio: Return relative to average drawdown	152.77	9.42	+143.35
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

LITE vs. USO - Sharpe Ratio Comparison

The current LITE Sharpe Ratio is 13.13, which is higher than the USO Sharpe Ratio of 2.31. The chart below compares the historical Sharpe Ratios of LITE 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

	LITE	USO	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	13.13	2.31	+10.82
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	1.06	0.68	+0.38
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.78	0.10	+0.68
Sharpe Ratio (All Time) Calculated using the full available price history	0.76	-0.18	+0.93

Drawdowns

LITE vs. USO - Drawdown Comparison

The maximum LITE drawdown since its inception was -66.89%, smaller than the maximum USO drawdown of -98.19%. Use the drawdown chart below to compare losses from any high point for LITE and USO.

Drawdown Indicators

	LITE	USO	Difference
Max Drawdown Largest peak-to-trough decline	-66.89%	-98.19%	+31.30%
Max Drawdown (1Y) Largest decline over 1 year	-28.70%	-20.39%	-8.31%
Max Drawdown (3Y) Largest decline over 3 years	-50.63%	-26.05%	-24.58%
Max Drawdown (5Y) Largest decline over 5 years	-66.48%	-36.23%	-30.25%
Max Drawdown (10Y) Largest decline over 10 years	-66.89%	-86.75%	+19.86%
Current Drawdown Current decline from peak	-10.93%	-85.01%	+74.08%
Average Drawdown Average peak-to-trough decline	-23.17%	-75.30%	+52.13%
Ulcer Index Depth and duration of drawdowns from previous peaks	7.32%	10.82%	-3.50%

Volatility

LITE vs. USO - Volatility Comparison

Lumentum Holdings Inc. (LITE) has a higher volatility of 30.62% compared to United States Oil Fund LP (USO) at 14.87%. This indicates that LITE's price experiences larger fluctuations and is considered to be riskier than USO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	LITE	USO	Difference
Volatility (1M) Calculated over the trailing 1-month period	30.62%	14.87%	+15.75%
Volatility (6M) Calculated over the trailing 6-month period	68.91%	38.23%	+30.68%
Volatility (1Y) Calculated over the trailing 1-year period	85.30%	44.20%	+41.10%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	59.65%	36.06%	+23.59%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	56.46%	39.00%	+17.46%

Dividends

LITE vs. USO - Dividend Comparison

Neither LITE nor USO has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both LITE and USO in my portfolio?

LITE and USO have a correlation of -0.09, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, LITE or USO?

LITE has higher volatility (30.62%) compared to USO (14.87%). In terms of maximum drawdown, LITE dropped -66.89% vs USO's -98.19%.

Which has better risk-adjusted returns?

LITE currently has the higher Sharpe Ratio (13.13 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.