MSTW vs. USO

Last updated Jun 3, 2026

MSTW (Roundhill MSTR WeeklyPay ETF) and USO (United States Oil Fund LP) are both exchange-traded funds - MSTW is a Derivative Income fund actively managed by Roundhill, while USO is a Oil & Gas fund tracking the Front Month Light Sweet Crude Oil. MSTW is actively managed, while USO is passively managed. At a correlation of -0.09, they often move in opposite directions. MSTW charges 0.99%/yr vs 0.86%/yr for USO.

Performance

MSTW vs. USO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Roundhill MSTR WeeklyPay ETF (MSTW) 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, MSTW achieves a -16.42% return, which is significantly lower than USO's 98.48% return.

MSTW

• 1D: -10.09%
• 1M: -27.42%
• YTD: -16.42%
• 6M: -33.03%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

USO

• 1D: 1.31%
• 1M: -3.87%
• YTD: 98.48%
• 6M: 95.54%
• 1Y: 97.37%
• 3Y*: 28.86%
• 5Y*: 23.92%
• 10Y*: 3.80%

*Multi-year figures are annualized to reflect compound growth (CAGR)

MSTW vs. USO - Yearly Performance Comparison

	2026 (YTD)	2025
MSTW Roundhill MSTR WeeklyPay ETF	-16.42%	-71.42%
USO United States Oil Fund LP	98.48%	-9.11%

Correlation

The correlation between MSTW 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 (All Time) Calculated using the full available price history since Jul 25, 2025	-0.09

Return for Risk

MSTW vs. USO — Risk / Return Rank

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

USO

USO Risk / Return Rank: 66
USO Sharpe Ratio Rank: 66
USO Sortino Ratio Rank: 59
USO Omega Ratio Rank: 61
USO Calmar Ratio Rank: 88
USO Martin Ratio Rank: 55

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.

MSTW vs. USO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Roundhill MSTR WeeklyPay ETF (MSTW) 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.

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

Sharpe Ratios by Period

	MSTW	USO	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	2.22	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.67	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.10	—
Sharpe Ratio (All Time) Calculated using the full available price history	-0.92	-0.18	-0.74

Drawdowns

MSTW vs. USO - Drawdown Comparison

The maximum MSTW drawdown since its inception was -81.85%, smaller than the maximum USO drawdown of -98.19%. Use the drawdown chart below to compare losses from any high point for MSTW and USO.

Drawdown Indicators

	MSTW	USO	Difference
Max Drawdown Largest peak-to-trough decline	-81.85%	-98.19%	+16.34%
Max Drawdown (1Y) Largest decline over 1 year	—	-20.39%	—
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	-76.11%	-85.39%	+9.28%
Average Drawdown Average peak-to-trough decline	-54.38%	-75.30%	+20.92%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	10.81%	—

Volatility

Volatility by Period

	MSTW	USO	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	15.03%	—
Volatility (6M) Calculated over the trailing 6-month period	—	38.18%	—
Volatility (1Y) Calculated over the trailing 1-year period	88.79%	44.26%	+44.53%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	88.79%	36.04%	+52.75%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	88.79%	39.00%	+49.79%

MSTW vs. USO - Expense Ratio Comparison

MSTW has a 0.99% expense ratio, which is higher than USO's 0.86% expense ratio.

Dividends

MSTW vs. USO - Dividend Comparison

MSTW's dividend yield for the trailing twelve months is around 219.17%, while USO has not paid dividends to shareholders.

Position	TTM	2025
MSTW Roundhill MSTR WeeklyPay ETF	219.17%	106.94%
USO United States Oil Fund LP	0.00%	0.00%

Frequently Asked Questions

Can I hold both MSTW and USO in my portfolio?

MSTW 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 ETF is better, MSTW or USO?

On fees, USO is cheaper at 0.86% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, MSTW or USO?

USO is cheaper with a 0.86% expense ratio, compared with 0.99% for MSTW.

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

MSTW has the higher dividend yield at 219.17%, compared with 0.00% for USO.

What is the main difference between MSTW and USO?

MSTW is categorized as Derivative Income, while USO is Oil & Gas. They also come from different issuers: Roundhill and USCF. Their fees differ too: 0.99% for MSTW and 0.86% for USO.