LTPZ vs. USO
LTPZ (PIMCO 15+ Year U.S. TIPS Index ETF) and USO (United States Oil Fund LP) are both exchange-traded funds - LTPZ is a Inflation-Protected Bonds fund tracking the ICE BofA US Inflation-Linked Treasury (15+ Y), while USO is a Oil & Gas fund tracking the Front Month Light Sweet Crude Oil. Both are passively managed. Over the past 10 years, LTPZ returned -0.17%/yr vs 4.47%/yr for USO. Their -0.12 correlation means they have often moved in opposite directions in the past. LTPZ charges 0.20%/yr vs 0.86%/yr for USO.
Performance
LTPZ vs. USO - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, LTPZ achieves a -3.35% return, which is significantly lower than USO's 76.58% return. Over the past 10 years, LTPZ has underperformed USO with an annualized return of -0.17%, while USO has yielded a comparatively higher 4.47% annualized return.
LTPZ
- 1D
- 0.42%
- 1M
- -3.33%
- 6M
- -2.92%
- YTD
- -3.35%
- 1Y
- -2.09%
- 3Y*
- -1.08%
- 5Y*
- -7.35%
- 10Y*
- -0.17%
- ALL TIME*
- 2.81%
USO
- 1D
- -5.46%
- 1M
- 17.45%
- 6M
- 62.11%
- YTD
- 76.58%
- 1Y
- 57.66%
- 3Y*
- 18.29%
- 5Y*
- 20.94%
- 10Y*
- 4.47%
- ALL TIME*
- -7.11%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $12.67M | $8.82M | $7.84M | |
| $981.29M | $906.75M | $905.81M |
LTPZ vs. USO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
LTPZ PIMCO 15+ Year U.S. TIPS Index ETF | -3.35% | 4.00% | -4.80% | 0.96% | -31.71% | 7.02% | 24.89% | 17.47% | -7.22% | 9.07% |
USO United States Oil Fund LP | 76.58% | -8.46% | 13.35% | -4.94% | 28.97% | 64.68% | -67.79% | 32.61% | -19.57% | 2.47% |
Correlation
The correlation between LTPZ and USO is -0.34, 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. | -0.34 |
Correlation (3Y) Balances recent behavior with more history. | -0.18 |
Correlation (5Y) Shows whether the relationship held over a longer period. | -0.09 |
Correlation (10Y) Provides a long-term view across more market conditions. | -0.08 |
Correlation (All Time) Calculated using the full available price history since Sep 8, 2009 | -0.12 |
Over the past year, the inverse relationship between LTPZ and USO has strengthened: their correlation has moved from -0.12 to -0.34, meaning they now move in opposite directions more often than their long-term average.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
LTPZ vs. USO — Risk / Return Rank
LTPZ
USO
LTPZ vs. USO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for PIMCO 15+ Year U.S. TIPS Index ETF (LTPZ) 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.
| LTPZ | USO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.46 | ||
| Sortino ratioReturn per unit of downside risk | -2.13 | ||
| Omega ratioGain probability vs. loss probability | 0.97 | 1.23 | -0.26 |
| Calmar ratioReturn relative to maximum drawdown | -0.26 | 1.78 | -2.04 |
| Martin ratioReturn relative to average drawdown | -0.54 | 5.23 | -5.77 |
Loading charts...
Drawdowns
LTPZ vs. USO - Drawdown Comparison
The maximum LTPZ drawdown since its inception was -40.99%, smaller than the maximum USO drawdown of -98.19%. Use the drawdown chart below to compare losses from any high point for LTPZ and USO.
Loading charts...
Drawdown Indicators
| LTPZ | USO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -40.99% | -98.19% | +57.20% |
Max Drawdown (1Y)Largest decline over 1 year | -8.09% | -32.49% | +24.40% |
Max Drawdown (3Y)Largest decline over 3 years | -12.64% | -32.49% | +19.85% |
Max Drawdown (5Y)Largest decline over 5 years | -40.99% | -36.23% | -4.76% |
Max Drawdown (10Y)Largest decline over 10 years | -40.99% | -86.75% | +45.76% |
Current DrawdownCurrent decline from peak | -35.26% | -87.01% | +51.75% |
Average DrawdownAverage peak-to-trough decline | -12.61% | -75.38% | +62.77% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.89% | 11.24% | -7.35% |
Volatility
LTPZ vs. USO - Volatility Comparison
The current volatility for PIMCO 15+ Year U.S. TIPS Index ETF (LTPZ) is 2.08%, while United States Oil Fund LP (USO) has a volatility of 18.95%. This indicates that LTPZ 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.
Loading charts...
Volatility by Period
| LTPZ | USO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.08% | 18.95% | -16.87% |
Volatility (6M)Calculated over the trailing 6-month period | 6.77% | 43.21% | -36.44% |
Volatility (1Y)Calculated over the trailing 1-year period | 9.01% | 47.21% | -38.20% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 15.86% | 37.13% | -21.27% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 15.02% | 39.32% | -24.30% |
LTPZ vs. USO - Expense Ratio Comparison
LTPZ has a 0.20% expense ratio, which is lower than USO's 0.86% expense ratio.
Dividends
LTPZ vs. USO - Dividend Comparison
LTPZ's dividend yield for the trailing twelve months is around 7.00%, while USO has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
LTPZ PIMCO 15+ Year U.S. TIPS Index ETF | 7.00% | 4.64% | 3.71% | 3.71% | 8.38% | 3.56% | 1.42% | 1.74% | 3.05% | 2.25% | 2.32% | 0.71% |
USO United States Oil Fund LP | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
LTPZ and USO have a correlation of -0.34, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
USO has higher volatility (18.95%) compared to LTPZ (2.08%). In terms of maximum drawdown, LTPZ dropped -40.99% vs USO's -98.19%.
On 10-year performance, USO leads with 4.47% vs -0.17% for LTPZ. On fees, LTPZ is cheaper at 0.20% per year. On volatility, LTPZ has been the lower-risk option at 2.08%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, USO has performed better with a 4.47% return vs -0.17%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
LTPZ is cheaper with a 0.20% expense ratio, compared with 0.86% for USO.
LTPZ has the higher dividend yield at 7.00%, compared with 0.00% for USO.
LTPZ is categorized as Inflation-Protected Bonds, while USO is Oil & Gas. LTPZ tracks ICE BofA US Inflation-Linked Treasury (15+ Y), while USO tracks Front Month Light Sweet Crude Oil. They also come from different issuers: PIMCO and USCF. Their fees differ too: 0.20% for LTPZ and 0.86% for USO.
USO currently has the higher Sharpe Ratio (1.23 vs -0.23), 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.
Find the right allocation for LTPZ and USO
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer