MSCI vs. USO
MSCI (MSCI 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, MSCI returned 22.38%/yr vs 5.64%/yr for USO. Their 0.16 correlation means their historical movements had little consistent relationship.
Performance
MSCI vs. USO - Performance Comparison
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Returns By Period
In the year-to-date period, MSCI achieves a 0.50% return, which is significantly lower than USO's 86.77% return. Over the past 10 years, MSCI has outperformed USO with an annualized return of 22.38%, while USO has yielded a comparatively lower 5.64% annualized return.
MSCI
- 1D
- -0.61%
- 1M
- -5.12%
- 6M
- -5.36%
- YTD
- 0.50%
- 1Y
- 4.10%
- 3Y*
- 2.84%
- 5Y*
- 0.29%
- 10Y*
- 22.38%
- ALL TIME*
- 19.59%
USO
- 1D
- 1.33%
- 1M
- 24.23%
- 6M
- 62.44%
- YTD
- 86.77%
- 1Y
- 66.76%
- 3Y*
- 20.97%
- 5Y*
- 20.59%
- 10Y*
- 5.64%
- ALL TIME*
- -6.85%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
MSCI MSCI Inc. | $558.68M | $425.84M | $423.23M |
| $968.42M | $871.56M | $931.57M |
MSCI vs. USO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
MSCI MSCI Inc. | 0.50% | -3.17% | 7.31% | 22.90% | -23.34% | 38.14% | 74.38% | 77.19% | 17.95% | 62.63% |
USO United States Oil Fund LP | 86.77% | -8.46% | 13.35% | -4.94% | 28.97% | 64.68% | -67.79% | 32.61% | -19.57% | 2.47% |
Correlation
The correlation between MSCI and USO is -0.12, 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. | -0.12 |
Correlation (3Y) Balances recent behavior with more history. | -0.09 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.00 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.08 |
Correlation (All Time) Calculated using the full available price history since Nov 15, 2007 | 0.16 |
The correlation between MSCI and USO shifts across timeframes, from -0.12 (1 year) to 0.16 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
MSCI vs. USO — Risk / Return Rank
MSCI
USO
MSCI vs. USO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for MSCI Inc. (MSCI) 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.
| MSCI | USO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.23 | ||
| Sortino ratioReturn per unit of downside risk | -1.62 | ||
| Omega ratioGain probability vs. loss probability | 1.05 | 1.25 | -0.20 |
| Calmar ratioReturn relative to maximum drawdown | 0.19 | 1.93 | -1.74 |
| Martin ratioReturn relative to average drawdown | 0.45 | 5.60 | -5.15 |
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Drawdowns
MSCI vs. USO - Drawdown Comparison
The maximum MSCI drawdown since its inception was -69.06%, smaller than the maximum USO drawdown of -98.19%. Use the drawdown chart below to compare losses from any high point for MSCI and USO.
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Drawdown Indicators
| MSCI | USO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -69.06% | -98.19% | +29.13% |
Max Drawdown (1Y)Largest decline over 1 year | -18.07% | -32.49% | +14.42% |
Max Drawdown (3Y)Largest decline over 3 years | -25.99% | -32.49% | +6.50% |
Max Drawdown (5Y)Largest decline over 5 years | -43.74% | -36.23% | -7.51% |
Max Drawdown (10Y)Largest decline over 10 years | -43.74% | -86.75% | +43.01% |
Current DrawdownCurrent decline from peak | -11.12% | -86.26% | +75.14% |
Average DrawdownAverage peak-to-trough decline | -13.04% | -75.38% | +62.34% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 7.46% | 12.03% | -4.57% |
Volatility
MSCI vs. USO - Volatility Comparison
The current volatility for MSCI Inc. (MSCI) is 13.82%, while United States Oil Fund LP (USO) has a volatility of 17.73%. This indicates that MSCI 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
| MSCI | USO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 13.82% | 17.73% | -3.91% |
Volatility (6M)Calculated over the trailing 6-month period | 24.75% | 42.79% | -18.04% |
Volatility (1Y)Calculated over the trailing 1-year period | 30.48% | 46.91% | -16.43% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 31.36% | 37.06% | -5.70% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 31.47% | 39.29% | -7.82% |
Dividends
MSCI vs. USO - Dividend Comparison
MSCI's dividend yield for the trailing twelve months is around 1.35%, while USO has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
MSCI MSCI Inc. | 1.35% | 1.25% | 1.07% | 0.98% | 0.98% | 0.59% | 0.65% | 0.98% | 1.30% | 1.04% | 1.27% | 1.11% |
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
MSCI and USO have a correlation of -0.12, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
USO has higher volatility (17.73%) compared to MSCI (13.82%). In terms of maximum drawdown, MSCI dropped -69.06% vs USO's -98.19%.
USO currently has the higher Sharpe Ratio (1.34 vs 0.11), 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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