PFRL vs. USO
PFRL (PGIM Floating Rate Income ETF) and USO (United States Oil Fund LP) are both exchange-traded funds - PFRL is a Bank Loan fund actively managed by PGIM, while USO is a Oil & Gas fund tracking the Front Month Light Sweet Crude Oil. PFRL is actively managed, while USO is passively managed. Over the past 3 years, PFRL returned 8.85%/yr vs 29.98%/yr for USO. At a 0.07 correlation, their price movements are largely independent. PFRL charges 0.72%/yr vs 0.86%/yr for USO.
Performance
PFRL vs. USO - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, PFRL achieves a 1.96% return, which is significantly lower than USO's 103.67% return.
PFRL
- 1D
- 0.09%
- 1M
- 0.68%
- YTD
- 1.96%
- 6M
- 2.91%
- 1Y
- 6.46%
- 3Y*
- 8.85%
- 5Y*
- —
- 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%
PFRL vs. USO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
PFRL PGIM Floating Rate Income ETF | 1.96% | 6.25% | 9.40% | 13.75% | 1.27% |
USO United States Oil Fund LP | 103.67% | -8.46% | 13.35% | -4.94% | -14.50% |
Correlation
The correlation between PFRL and USO is -0.21, 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 | -0.21 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.02 |
Correlation (All Time) Calculated using the full available price history since May 25, 2022 | 0.07 |
The correlation between PFRL and USO shifts across timeframes, from -0.21 (1 year) to 0.07 (all time), reflecting how their relationship changes across market environments.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
PFRL vs. USO — Risk / Return Rank
PFRL
USO
PFRL vs. USO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for PGIM Floating Rate Income ETF (PFRL) 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.
| PFRL | USO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.04 | ||
| Sortino ratioReturn per unit of downside risk | +1.95 | ||
| Omega ratioGain probability vs. loss probability | 1.73 | 1.38 | +0.35 |
| Calmar ratioReturn relative to maximum drawdown | 5.17 | 5.01 | +0.16 |
| Martin ratioReturn relative to average drawdown | 17.58 | 9.42 | +8.17 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
Loading charts...
Sharpe Ratios by Period
| PFRL | USO | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 3.35 | 2.31 | +1.04 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | 0.68 | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.10 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 1.67 | -0.18 | +1.84 |
Drawdowns
PFRL vs. USO - Drawdown Comparison
The maximum PFRL drawdown since its inception was -8.83%, smaller than the maximum USO drawdown of -98.19%. Use the drawdown chart below to compare losses from any high point for PFRL and USO.
Loading charts...
Drawdown Indicators
| PFRL | USO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -8.83% | -98.19% | +89.36% |
Max Drawdown (1Y)Largest decline over 1 year | -1.25% | -20.39% | +19.14% |
Max Drawdown (3Y)Largest decline over 3 years | -8.83% | -26.05% | +17.22% |
Max Drawdown (5Y)Largest decline over 5 years | — | -36.23% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -86.75% | — |
Current DrawdownCurrent decline from peak | -0.03% | -85.01% | +84.98% |
Average DrawdownAverage peak-to-trough decline | -0.44% | -75.30% | +74.86% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.37% | 10.82% | -10.45% |
Volatility
PFRL vs. USO - Volatility Comparison
The current volatility for PGIM Floating Rate Income ETF (PFRL) is 0.42%, while United States Oil Fund LP (USO) has a volatility of 14.87%. This indicates that PFRL 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.
Loading charts...
Volatility by Period
| PFRL | USO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.42% | 14.87% | -14.45% |
Volatility (6M)Calculated over the trailing 6-month period | 1.58% | 38.23% | -36.65% |
Volatility (1Y)Calculated over the trailing 1-year period | 1.94% | 44.20% | -42.26% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 4.86% | 36.06% | -31.20% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.86% | 39.00% | -34.14% |
PFRL vs. USO - Expense Ratio Comparison
PFRL has a 0.72% expense ratio, which is lower than USO's 0.86% expense ratio.
Dividends
PFRL vs. USO - Dividend Comparison
PFRL's dividend yield for the trailing twelve months is around 6.83%, while USO has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
PFRL PGIM Floating Rate Income ETF | 6.83% | 7.34% | 8.96% | 9.84% | 3.55% |
USO United States Oil Fund LP | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
PFRL and USO have a correlation of -0.21, 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 PFRL (0.42%). In terms of maximum drawdown, PFRL dropped -8.83% vs USO's -98.19%.
On 3-year performance, USO leads with 29.98% vs 8.85% for PFRL. On fees, PFRL is cheaper at 0.72% per year. On volatility, PFRL has been the lower-risk option at 0.42%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, USO has performed better with a 29.98% return vs 8.85%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
PFRL is cheaper with a 0.72% expense ratio, compared with 0.86% for USO.
PFRL has the higher dividend yield at 6.83%, compared with 0.00% for USO.
PFRL is categorized as Bank Loan, while USO is Oil & Gas. They also come from different issuers: PGIM and USCF. Their fees differ too: 0.72% for PFRL and 0.86% for USO.
PFRL currently has the higher Sharpe Ratio (3.35 vs 2.31), 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.
Find the right allocation for PFRL and USO
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer