PTF vs. USO
PTF (Invesco DWA Technology Momentum ETF) and USO (United States Oil Fund LP) are both exchange-traded funds - PTF is a Momentum fund tracking the DWA Technology Technical Leaders 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, PTF returned 26.93%/yr vs 4.07%/yr for USO. At a 0.19 correlation, their price movements are largely independent. PTF charges 0.60%/yr vs 0.86%/yr for USO.
Performance
PTF vs. USO - Performance Comparison
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Returns By Period
In the year-to-date period, PTF achieves a 77.58% return, which is significantly lower than USO's 103.67% return. Over the past 10 years, PTF has outperformed USO with an annualized return of 26.93%, while USO has yielded a comparatively lower 4.07% annualized return.
PTF
- 1D
- 0.27%
- 1M
- 19.05%
- YTD
- 77.58%
- 6M
- 74.93%
- 1Y
- 109.08%
- 3Y*
- 43.28%
- 5Y*
- 23.79%
- 10Y*
- 26.93%
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%
PTF vs. USO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
PTF Invesco DWA Technology Momentum ETF | 77.58% | 5.68% | 43.65% | 33.73% | -31.75% | 18.10% | 82.06% | 46.71% | 0.01% | 32.07% |
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 PTF and USO is -0.17, 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 | -0.17 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.02 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.06 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.10 |
Correlation (All Time) Calculated using the full available price history since Oct 13, 2006 | 0.19 |
The correlation between PTF and USO shifts across timeframes, from -0.17 (1 year) to 0.19 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
PTF vs. USO — Risk / Return Rank
PTF
USO
PTF vs. USO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco DWA Technology Momentum ETF (PTF) 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.
| PTF | USO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.55 | ||
| Sortino ratioReturn per unit of downside risk | +0.26 | ||
| Omega ratioGain probability vs. loss probability | 1.44 | 1.38 | +0.05 |
| Calmar ratioReturn relative to maximum drawdown | 6.10 | 5.01 | +1.09 |
| Martin ratioReturn relative to average drawdown | 24.27 | 9.42 | +14.86 |
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
| PTF | USO | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.86 | 2.31 | +0.55 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.68 | 0.68 | 0.00 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.82 | 0.10 | +0.72 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.54 | -0.18 | +0.71 |
Drawdowns
PTF vs. USO - Drawdown Comparison
The maximum PTF drawdown since its inception was -55.38%, smaller than the maximum USO drawdown of -98.19%. Use the drawdown chart below to compare losses from any high point for PTF and USO.
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Drawdown Indicators
| PTF | USO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -55.38% | -98.19% | +42.81% |
Max Drawdown (1Y)Largest decline over 1 year | -17.99% | -20.39% | +2.40% |
Max Drawdown (3Y)Largest decline over 3 years | -36.11% | -26.05% | -10.06% |
Max Drawdown (5Y)Largest decline over 5 years | -44.88% | -36.23% | -8.65% |
Max Drawdown (10Y)Largest decline over 10 years | -44.88% | -86.75% | +41.87% |
Current DrawdownCurrent decline from peak | 0.00% | -85.01% | +85.01% |
Average DrawdownAverage peak-to-trough decline | -13.27% | -75.30% | +62.03% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.51% | 10.82% | -6.31% |
Volatility
PTF vs. USO - Volatility Comparison
The current volatility for Invesco DWA Technology Momentum ETF (PTF) is 13.27%, while United States Oil Fund LP (USO) has a volatility of 14.87%. This indicates that PTF 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
| PTF | USO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 13.27% | 14.87% | -1.60% |
Volatility (6M)Calculated over the trailing 6-month period | 29.47% | 38.23% | -8.76% |
Volatility (1Y)Calculated over the trailing 1-year period | 38.39% | 44.20% | -5.81% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 34.95% | 36.06% | -1.11% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 32.94% | 39.00% | -6.06% |
PTF vs. USO - Expense Ratio Comparison
PTF has a 0.60% expense ratio, which is lower than USO's 0.86% expense ratio.
Dividends
PTF vs. USO - Dividend Comparison
PTF's dividend yield for the trailing twelve months is around 0.01%, while USO has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
PTF Invesco DWA Technology Momentum ETF | 0.01% | 0.21% | 0.00% | 0.07% | 0.00% | 0.00% | 0.00% | 0.00% | 0.08% | 0.04% | 0.26% |
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% |
Frequently Asked Questions
PTF and USO have a correlation of -0.17, 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 PTF (13.27%). In terms of maximum drawdown, PTF dropped -55.38% vs USO's -98.19%.
On 10-year performance, PTF leads with 26.93% vs 4.07% for USO. On fees, PTF is cheaper at 0.60% per year. On volatility, PTF has been the lower-risk option at 13.27%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, PTF has performed better with a 26.93% return vs 4.07%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
PTF is cheaper with a 0.60% expense ratio, compared with 0.86% for USO.
PTF has the higher dividend yield at 0.01%, compared with 0.00% for USO.
PTF is categorized as Momentum, while USO is Oil & Gas. PTF tracks DWA Technology Technical Leaders Index, while USO tracks Front Month Light Sweet Crude Oil. They also come from different issuers: Invesco and USCF. Their fees differ too: 0.60% for PTF and 0.86% for USO.
PTF currently has the higher Sharpe Ratio (2.86 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.
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