OGIG vs. USO
OGIG (O’Shares Global Internet Giants ETF) and USO (United States Oil Fund LP) are both exchange-traded funds - OGIG is a Large Cap Growth Equities fund tracking the O’Shares Global Internet Giants Index, while USO is a Oil & Gas fund tracking the Front Month Light Sweet Crude Oil. Both are passively managed. Over the past 5 years, OGIG returned -2.07%/yr vs 24.41%/yr for USO. At a 0.12 correlation, their price movements are largely independent. OGIG charges 0.48%/yr vs 0.86%/yr for USO.
Performance
OGIG vs. USO - Performance Comparison
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Returns By Period
In the year-to-date period, OGIG achieves a -9.21% return, which is significantly lower than USO's 103.67% return.
OGIG
- 1D
- -3.46%
- 1M
- 6.90%
- YTD
- -9.21%
- 6M
- -10.93%
- 1Y
- -6.52%
- 3Y*
- 15.13%
- 5Y*
- -2.07%
- 10Y*
- —
USO
- 1D
- 2.62%
- 1M
- -4.57%
- YTD
- 103.67%
- 6M
- 99.35%
- 1Y
- 101.55%
- 3Y*
- 29.98%
- 5Y*
- 24.41%
- 10Y*
- 4.07%
OGIG vs. USO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
OGIG O’Shares Global Internet Giants ETF | -9.21% | 14.39% | 25.97% | 50.25% | -50.64% | -9.30% | 107.92% | 36.90% | -24.48% |
USO United States Oil Fund LP | 103.67% | -8.46% | 13.35% | -4.94% | 28.97% | 64.68% | -67.79% | 32.61% | -26.93% |
Correlation
The correlation between OGIG and USO is -0.18, 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 (1Y) Calculated over the trailing 1-year period | -0.18 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.00 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.07 |
Correlation (All Time) Calculated using the full available price history since Jun 6, 2018 | 0.12 |
The correlation between OGIG and USO shifts across timeframes, from -0.18 (1 year) to 0.12 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
OGIG vs. USO — Risk / Return Rank
OGIG
USO
OGIG vs. USO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for O’Shares Global Internet Giants ETF (OGIG) 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.
| OGIG | USO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.61 | ||
| Sortino ratioReturn per unit of downside risk | -3.15 | ||
| Omega ratioGain probability vs. loss probability | 0.97 | 1.38 | -0.41 |
| Calmar ratioReturn relative to maximum drawdown | -0.20 | 5.01 | -5.20 |
| Martin ratioReturn relative to average drawdown | -0.41 | 9.42 | -9.83 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| OGIG | USO | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -0.30 | 2.31 | -2.61 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.07 | 0.68 | -0.75 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.10 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.27 | -0.18 | +0.44 |
Drawdowns
OGIG vs. USO - Drawdown Comparison
The maximum OGIG drawdown since its inception was -66.05%, smaller than the maximum USO drawdown of -98.19%. Use the drawdown chart below to compare losses from any high point for OGIG and USO.
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Drawdown Indicators
| OGIG | USO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -66.05% | -98.19% | +32.14% |
Max Drawdown (1Y)Largest decline over 1 year | -33.23% | -20.39% | -12.84% |
Max Drawdown (3Y)Largest decline over 3 years | -33.23% | -26.05% | -7.18% |
Max Drawdown (5Y)Largest decline over 5 years | -62.79% | -36.23% | -26.56% |
Max Drawdown (10Y)Largest decline over 10 years | — | -86.75% | — |
Current DrawdownCurrent decline from peak | -24.99% | -85.01% | +60.02% |
Average DrawdownAverage peak-to-trough decline | -25.67% | -75.30% | +49.63% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 15.84% | 10.82% | +5.02% |
Volatility
OGIG vs. USO - Volatility Comparison
The current volatility for O’Shares Global Internet Giants ETF (OGIG) is 8.15%, while United States Oil Fund LP (USO) has a volatility of 14.87%. This indicates that OGIG 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
| OGIG | USO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 8.15% | 14.87% | -6.72% |
Volatility (6M)Calculated over the trailing 6-month period | 18.28% | 38.23% | -19.95% |
Volatility (1Y)Calculated over the trailing 1-year period | 22.16% | 44.20% | -22.04% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 31.58% | 36.06% | -4.48% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 31.03% | 39.00% | -7.97% |
OGIG vs. USO - Expense Ratio Comparison
OGIG has a 0.48% expense ratio, which is lower than USO's 0.86% expense ratio.
Dividends
OGIG vs. USO - Dividend Comparison
OGIG's dividend yield for the trailing twelve months is around 0.08%, while USO has not paid dividends to shareholders.
| Position | TTM | 2025 |
|---|---|---|
OGIG O’Shares Global Internet Giants ETF | 0.08% | 0.07% |
USO United States Oil Fund LP | 0.00% | 0.00% |
Frequently Asked Questions
OGIG and USO have a correlation of -0.18, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
USO has higher volatility (14.87%) compared to OGIG (8.15%). In terms of maximum drawdown, OGIG dropped -66.05% vs USO's -98.19%.
On 5-year performance, USO leads with 24.41% vs -2.07% for OGIG. On fees, OGIG is cheaper at 0.48% per year. On volatility, OGIG has been the lower-risk option at 8.15%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, USO has performed better with a 24.41% return vs -2.07%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
OGIG is cheaper with a 0.48% expense ratio, compared with 0.86% for USO.
OGIG has the higher dividend yield at 0.08%, compared with 0.00% for USO.
OGIG is categorized as Large Cap Growth Equities, while USO is Oil & Gas. OGIG tracks O’Shares Global Internet Giants Index, while USO tracks Front Month Light Sweet Crude Oil. They also come from different issuers: O'Shares Investments and USCF. Their fees differ too: 0.48% for OGIG and 0.86% for USO.
USO currently has the higher Sharpe Ratio (2.31 vs -0.30), 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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