NIHI vs. USO

Last updated Jul 24, 2026

NIHI (NEOS MSCI EAFE High Income ETF) and USO (United States Oil Fund LP) are both exchange-traded funds - NIHI is a Derivative Income fund actively managed by Neos, while USO is a Oil & Gas fund tracking the Front Month Light Sweet Crude Oil. NIHI is actively managed, while USO is passively managed. At a correlation of -0.31, they often move in opposite directions. NIHI charges 0.68%/yr vs 0.86%/yr for USO.

Performance

NIHI vs. USO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in NEOS MSCI EAFE High Income ETF (NIHI) 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, NIHI achieves a 6.45% return, which is significantly lower than USO's 101.69% return.

NIHI

• 1D: -1.13%
• 1M: 0.71%
• 6M: 3.62%
• YTD: 6.45%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: —

USO

• 1D: 5.93%
• 1M: 25.37%
• 6M: 94.22%
• YTD: 101.69%
• 1Y: 85.29%
• 3Y*: 25.43%
• 5Y*: 23.04%
• 10Y*: 5.58%
• ALL TIME*: -6.51%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
NIHI NEOS MSCI EAFE High Income ETF	$1.80M	$2.07M	$2.34M
USO United States Oil Fund LP	$946.92M	$768.72M	$992.74M

NIHI vs. USO - Yearly Performance Comparison

	2026 (YTD)	2025
NIHI NEOS MSCI EAFE High Income ETF	6.45%	4.89%
USO United States Oil Fund LP	101.69%	-8.60%

Correlation

The correlation between NIHI and USO is -0.31, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.

	Correlation
Correlation (All Time) Calculated using the full available price history since Sep 17, 2025	-0.31

Return for Risk

NIHI vs. USO — Risk / Return Rank

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

NIHI

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

USO

USO Risk / Return Rank: 69
USO Sharpe Ratio Rank: 77
USO Sortino Ratio Rank: 73
USO Omega Ratio Rank: 69
USO Calmar Ratio Rank: 69
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.

NIHI vs. USO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for NEOS MSCI EAFE High Income ETF (NIHI) 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.

	NIHI	USO	Difference
Sharpe ratio: Return per unit of total volatility	—	1.88	—
Sortino ratio: Return per unit of downside risk	—	2.54	—
Omega ratio: Gain probability vs. loss probability	—	1.31	—
Calmar ratio: Return relative to maximum drawdown	—	2.64	—
Martin ratio: Return relative to average drawdown	—	6.87	—

Drawdowns

NIHI vs. USO - Drawdown Comparison

The maximum NIHI drawdown since its inception was -10.88%, smaller than the maximum USO drawdown of -98.19%. Use the drawdown chart below to compare losses from any high point for NIHI and USO.

Drawdown Indicators

	NIHI	USO	Difference
Max Drawdown Largest peak-to-trough decline	-10.88%	-98.19%	+87.31%
Max Drawdown (1Y) Largest decline over 1 year	—	-32.49%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-32.49%	—
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	-1.88%	-85.16%	+83.28%
Average Drawdown Average peak-to-trough decline	-2.17%	-75.37%	+73.20%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	12.45%	—

Volatility

Volatility by Period

	NIHI	USO	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	14.44%	—
Volatility (6M) Calculated over the trailing 6-month period	—	41.19%	—
Volatility (1Y) Calculated over the trailing 1-year period	14.88%	45.50%	-30.62%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.88%	36.67%	-21.79%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	14.88%	39.13%	-24.25%

NIHI vs. USO - Expense Ratio Comparison

NIHI has a 0.68% expense ratio, which is lower than USO's 0.86% expense ratio.

Dividends

NIHI vs. USO - Dividend Comparison

NIHI's dividend yield for the trailing twelve months is around 9.56%, while USO has not paid dividends to shareholders.

Position	TTM	2025
NIHI NEOS MSCI EAFE High Income ETF	9.56%	3.44%
USO United States Oil Fund LP	0.00%	0.00%

Frequently Asked Questions

Can I hold both NIHI and USO in my portfolio?

NIHI and USO have a correlation of -0.31, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, NIHI or USO?

On fees, NIHI is cheaper at 0.68% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, NIHI or USO?

NIHI is cheaper with a 0.68% expense ratio, compared with 0.86% for USO.

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

NIHI has the higher dividend yield at 9.56%, compared with 0.00% for USO.

What is the main difference between NIHI and USO?

NIHI is categorized as Derivative Income, while USO is Oil & Gas. They also come from different issuers: Neos and USCF. Their fees differ too: 0.68% for NIHI and 0.86% for USO.