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PSCI vs. USO
Performance
Return for Risk
Drawdowns
Volatility
Dividends

PSCI vs. USO

Last updated Jun 4, 2026

PSCI (Invesco S&P SmallCap Industrials ETF) and USO (United States Oil Fund LP) are both exchange-traded funds - PSCI is a Industrials Equities fund tracking the S&P SmallCap 600 Industrials 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, PSCI returned 14.92%/yr vs 4.07%/yr for USO. At a 0.25 correlation, their price movements are largely independent. PSCI charges 0.29%/yr vs 0.86%/yr for USO.

Performance

PSCI vs. USO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco S&P SmallCap Industrials ETF (PSCI) and United States Oil Fund LP (USO). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, PSCI achieves a 13.72% return, which is significantly lower than USO's 103.67% return. Over the past 10 years, PSCI has outperformed USO with an annualized return of 14.92%, while USO has yielded a comparatively lower 4.07% annualized return.

PSCI

1D
-0.49%
1M
0.56%
YTD
13.72%
6M
13.66%
1Y
35.33%
3Y*
21.37%
5Y*
13.36%
10Y*
14.92%

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

PSCI vs. USO - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
PSCI
Invesco S&P SmallCap Industrials ETF		13.72%13.50%16.68%31.64%-9.02%24.44%12.02%29.80%-13.20%17.52%
USO
United States Oil Fund LP		103.67%-8.46%13.35%-4.94%28.97%64.68%-67.79%32.61%-19.57%2.47%

Correlation

The correlation between PSCI and USO is -0.27, 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

-0.27

Correlation (3Y)
Calculated over the trailing 3-year period

-0.03

Correlation (5Y)
Calculated over the trailing 5-year period

0.11

Correlation (10Y)
Calculated over the trailing 10-year period

0.18

Correlation (All Time)
Calculated using the full available price history since Apr 8, 2010

0.25

The correlation between PSCI and USO shifts across timeframes, from -0.27 (1 year) to 0.25 (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.

Invesco S&P SmallCap Industrials ETF

United States Oil Fund LP

Often compared with PSCI:
PSCI vs. AIRRPSCI vs. PSCCPSCI vs. PSCMPSCI vs. UBSIPSCI vs. PSCFPSCI vs. VBPSCI vs. XAR
Often compared with USO:
USO vs. XLEUSO vs. BNOUSO vs. UCOUSO vs. USLUSO vs. OILKUSO vs. DBOUSO vs. WTI

Return for Risk

PSCI vs. USO — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
PSCI
PSCI Risk / Return Rank: 4848
Overall Rank
PSCI Sharpe Ratio Rank: 4848
Sharpe Ratio Rank
PSCI Sortino Ratio Rank: 5151
Sortino Ratio Rank
PSCI Omega Ratio Rank: 4646
Omega Ratio Rank
PSCI Calmar Ratio Rank: 4848
Calmar Ratio Rank
PSCI Martin Ratio Rank: 4949
Martin Ratio Rank
USO
USO Risk / Return Rank: 6666
Overall Rank
USO Sharpe Ratio Rank: 6969
Sharpe Ratio Rank
USO Sortino Ratio Rank: 6060
Sortino Ratio Rank
USO Omega Ratio Rank: 6161
Omega Ratio Rank
USO Calmar Ratio Rank: 8787
Calmar Ratio Rank
USO Martin Ratio Rank: 5454
Martin Ratio Rank
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.

PSCI vs. USO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco S&P SmallCap Industrials ETF (PSCI) 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.

PSCIUSODifference
Sharpe ratioReturn per unit of total volatility
1.69
2.31

-0.62

Sortino ratioReturn per unit of downside risk
2.49
2.89

-0.40

Omega ratioGain probability vs. loss probability

1.29

1.38

-0.09

Calmar ratioReturn relative to maximum drawdown

2.39

5.01

-2.62

Martin ratioReturn relative to average drawdown

8.11

9.42

-1.31

Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

PSCI vs. USO - Sharpe Ratio Comparison

The current PSCI Sharpe Ratio is 1.69, which is comparable to the USO Sharpe Ratio of 2.31. The chart below compares the historical Sharpe Ratios of PSCI and USO, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

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Sharpe Ratios by Period

PSCIUSODifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

1.69

2.31

-0.62

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.58

0.68

-0.10

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.59

0.10

+0.49

Sharpe Ratio (All Time)

Calculated using the full available price history

0.57

-0.18

+0.74

Drawdowns

PSCI vs. USO - Drawdown Comparison

The maximum PSCI drawdown since its inception was -45.55%, smaller than the maximum USO drawdown of -98.19%. Use the drawdown chart below to compare losses from any high point for PSCI and USO.

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Drawdown Indicators

PSCIUSODifference

Max Drawdown

Largest peak-to-trough decline

-45.55%

-98.19%

+52.64%

Max Drawdown (1Y)

Largest decline over 1 year

-14.88%

-20.39%

+5.51%

Max Drawdown (3Y)

Largest decline over 3 years

-29.36%

-26.05%

-3.31%

Max Drawdown (5Y)

Largest decline over 5 years

-29.36%

-36.23%

+6.87%

Max Drawdown (10Y)

Largest decline over 10 years

-45.55%

-86.75%

+41.20%

Current Drawdown

Current decline from peak

-2.90%

-85.01%

+82.11%

Average Drawdown

Average peak-to-trough decline

-6.91%

-75.30%

+68.39%

Ulcer Index

Depth and duration of drawdowns from previous peaks

4.37%

10.82%

-6.45%

Volatility

PSCI vs. USO - Volatility Comparison

The current volatility for Invesco S&P SmallCap Industrials ETF (PSCI) is 6.10%, while United States Oil Fund LP (USO) has a volatility of 14.87%. This indicates that PSCI 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

PSCIUSODifference

Volatility (1M)

Calculated over the trailing 1-month period

6.10%

14.87%

-8.77%

Volatility (6M)

Calculated over the trailing 6-month period

15.45%

38.23%

-22.78%

Volatility (1Y)

Calculated over the trailing 1-year period

21.05%

44.20%

-23.15%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

23.02%

36.06%

-13.04%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

25.25%

39.00%

-13.75%

PSCI vs. USO - Expense Ratio Comparison

PSCI has a 0.29% expense ratio, which is lower than USO's 0.86% expense ratio.

Dividends

PSCI vs. USO - Dividend Comparison

PSCI's dividend yield for the trailing twelve months is around 1.40%, while USO has not paid dividends to shareholders.

PositionTTM20252024202320222021202020192018201720162015
PSCI
Invesco S&P SmallCap Industrials ETF		1.40%1.56%0.65%0.72%0.87%0.69%0.59%0.64%0.67%0.71%0.74%1.02%
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

PSCI and USO have a correlation of -0.27, 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 PSCI (6.10%). In terms of maximum drawdown, PSCI dropped -45.55% vs USO's -98.19%.

On 10-year performance, PSCI leads with 14.92% vs 4.07% for USO. On fees, PSCI is cheaper at 0.29% per year. On volatility, PSCI has been the lower-risk option at 6.10%. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 10-year period, PSCI has performed better with a 14.92% return vs 4.07%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

PSCI is cheaper with a 0.29% expense ratio, compared with 0.86% for USO.

PSCI has the higher dividend yield at 1.40%, compared with 0.00% for USO.

PSCI is categorized as Industrials Equities, while USO is Oil & Gas. PSCI tracks S&P SmallCap 600 Industrials Index, while USO tracks Front Month Light Sweet Crude Oil. They also come from different issuers: Invesco and USCF. Their fees differ too: 0.29% for PSCI and 0.86% for USO.

USO currently has the higher Sharpe Ratio (2.31 vs 1.69), 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.

Portfolio Optimizer

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