NFTY vs. USO
NFTY (First Trust India NIFTY 50 Equal Weight ETF) and USO (United States Oil Fund LP) are both exchange-traded funds - NFTY is a India Equities fund tracking the NIFTY 50 Equal Weight Index, while USO is a Oil & Gas fund tracking the Front Month Light Sweet Crude Oil. Both are passively managed. Over the past 10 years, NFTY returned 7.50%/yr vs 5.64%/yr for USO. Their 0.09 correlation means their historical movements had little consistent relationship. NFTY charges 0.80%/yr vs 0.86%/yr for USO.
Performance
NFTY vs. USO - Performance Comparison
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Returns By Period
In the year-to-date period, NFTY achieves a -5.91% return, which is significantly lower than USO's 86.77% return. Over the past 10 years, NFTY has outperformed USO with an annualized return of 7.50%, while USO has yielded a comparatively lower 5.64% annualized return.
NFTY
- 1D
- -0.10%
- 1M
- 0.86%
- 6M
- -2.37%
- YTD
- -5.91%
- 1Y
- -2.47%
- 3Y*
- 5.47%
- 5Y*
- 5.91%
- 10Y*
- 7.50%
- ALL TIME*
- 6.00%
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) |
|---|---|---|---|
| $2.39M | $1.68M | $1.69M | |
| $968.42M | $871.56M | $931.57M |
NFTY vs. USO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
NFTY First Trust India NIFTY 50 Equal Weight ETF | -5.91% | 5.47% | 5.18% | 24.00% | -3.46% | 26.83% | 10.04% | 0.58% | -1.51% | 21.78% |
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 NFTY and USO is -0.40, 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. | -0.40 |
Correlation (3Y) Balances recent behavior with more history. | -0.14 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.01 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.07 |
Correlation (All Time) Calculated using the full available price history since Feb 28, 2012 | 0.09 |
The correlation between NFTY and USO shifts across timeframes, from -0.40 (1 year) to 0.09 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
NFTY vs. USO — Risk / Return Rank
NFTY
USO
NFTY vs. USO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for First Trust India NIFTY 50 Equal Weight ETF (NFTY) 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.
| NFTY | USO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.48 | ||
| Sortino ratioReturn per unit of downside risk | -2.10 | ||
| Omega ratioGain probability vs. loss probability | 0.99 | 1.25 | -0.26 |
| Calmar ratioReturn relative to maximum drawdown | -0.14 | 1.93 | -2.06 |
| Martin ratioReturn relative to average drawdown | -0.31 | 5.60 | -5.91 |
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Drawdowns
NFTY vs. USO - Drawdown Comparison
The maximum NFTY drawdown since its inception was -47.67%, smaller than the maximum USO drawdown of -98.19%. Use the drawdown chart below to compare losses from any high point for NFTY and USO.
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Drawdown Indicators
| NFTY | USO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -47.67% | -98.19% | +50.52% |
Max Drawdown (1Y)Largest decline over 1 year | -16.14% | -32.49% | +16.35% |
Max Drawdown (3Y)Largest decline over 3 years | -21.55% | -32.49% | +10.94% |
Max Drawdown (5Y)Largest decline over 5 years | -21.55% | -36.23% | +14.68% |
Max Drawdown (10Y)Largest decline over 10 years | -47.67% | -86.75% | +39.08% |
Current DrawdownCurrent decline from peak | -13.99% | -86.26% | +72.27% |
Average DrawdownAverage peak-to-trough decline | -9.65% | -75.38% | +65.73% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 6.98% | 12.03% | -5.05% |
Volatility
NFTY vs. USO - Volatility Comparison
The current volatility for First Trust India NIFTY 50 Equal Weight ETF (NFTY) is 3.54%, while United States Oil Fund LP (USO) has a volatility of 17.73%. This indicates that NFTY 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
| NFTY | USO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.54% | 17.73% | -14.19% |
Volatility (6M)Calculated over the trailing 6-month period | 12.71% | 42.79% | -30.08% |
Volatility (1Y)Calculated over the trailing 1-year period | 14.82% | 46.91% | -32.09% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 17.42% | 37.06% | -19.64% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 20.64% | 39.29% | -18.65% |
NFTY vs. USO - Expense Ratio Comparison
NFTY has a 0.80% expense ratio, which is lower than USO's 0.86% expense ratio.
Dividends
NFTY vs. USO - Dividend Comparison
NFTY's dividend yield for the trailing twelve months is around 1.88%, while USO has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
NFTY First Trust India NIFTY 50 Equal Weight ETF | 1.88% | 1.24% | 1.61% | 0.13% | 5.89% | 1.53% | 0.61% | 0.97% | 0.00% | 4.10% | 3.28% | 4.39% |
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
NFTY and USO have a correlation of -0.40, 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 NFTY (3.54%). In terms of maximum drawdown, NFTY dropped -47.67% vs USO's -98.19%.
On 10-year performance, NFTY leads with 7.50% vs 5.64% for USO. On fees, NFTY is cheaper at 0.80% per year. On volatility, NFTY has been the lower-risk option at 3.54%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, NFTY has performed better with a 7.50% return vs 5.64%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
NFTY is cheaper with a 0.80% expense ratio, compared with 0.86% for USO.
NFTY has the higher dividend yield at 1.88%, compared with 0.00% for USO.
NFTY is categorized as India Equities, while USO is Oil & Gas. NFTY tracks NIFTY 50 Equal Weight Index, while USO tracks Front Month Light Sweet Crude Oil. They also come from different issuers: First Trust and USCF. Their fees differ too: 0.80% for NFTY and 0.86% for USO.
USO currently has the higher Sharpe Ratio (1.34 vs -0.15), 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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