PYLD vs. USO
PYLD (PIMCO Multisector Bond Active Exchange-Traded Fund) and USO (United States Oil Fund LP) are both exchange-traded funds - PYLD is a Multisector Bonds fund actively managed by PIMCO, while USO is a Oil & Gas fund tracking the Front Month Light Sweet Crude Oil. PYLD is actively managed, while USO is passively managed. Over the past 3 years, PYLD returned 7.74%/yr vs 20.97%/yr for USO. Their -0.17 correlation means they have often moved in opposite directions in the past. PYLD charges 0.55%/yr vs 0.86%/yr for USO.
Performance
PYLD vs. USO - Performance Comparison
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Returns By Period
In the year-to-date period, PYLD achieves a 0.83% return, which is significantly lower than USO's 86.77% return.
PYLD
- 1D
- -0.19%
- 1M
- -0.91%
- 6M
- 0.19%
- YTD
- 0.83%
- 1Y
- 4.78%
- 3Y*
- 7.74%
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 7.58%
USO
- 1D
- 1.33%
- 1M
- 24.23%
- 6M
- 62.44%
- YTD
- 86.77%
- 1Y
- 66.76%
- 3Y*
- 20.97%
- 5Y*
- 20.59%
- 10Y*
- 5.64%
- ALL TIME*
- -6.85%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $85.99M | $101.13M | $105.82M | |
| $968.42M | $871.56M | $931.57M |
PYLD vs. USO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
PYLD PIMCO Multisector Bond Active Exchange-Traded Fund | 0.83% | 9.57% | 7.69% | 5.46% |
USO United States Oil Fund LP | 86.77% | -8.46% | 13.35% | 2.48% |
Correlation
The correlation between PYLD and USO is -0.42, meaning they have often moved in opposite directions in the past. This relationship can weaken or reverse as market conditions change.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | -0.42 |
Correlation (3Y) Balances recent behavior with more history. | -0.19 |
Correlation (All Time) Calculated using the full available price history since Jun 22, 2023 | -0.17 |
Over the past year, the inverse relationship between PYLD and USO has strengthened: their correlation has moved from -0.17 to -0.42, meaning they now move in opposite directions more often than their long-term average.
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Return for Risk
PYLD vs. USO — Risk / Return Rank
PYLD
USO
PYLD vs. USO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for PIMCO Multisector Bond Active Exchange-Traded Fund (PYLD) 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.
| PYLD | USO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.38 | ||
| Sortino ratioReturn per unit of downside risk | +0.49 | ||
| Omega ratioGain probability vs. loss probability | 1.32 | 1.25 | +0.08 |
| Calmar ratioReturn relative to maximum drawdown | 1.65 | 1.93 | -0.28 |
| Martin ratioReturn relative to average drawdown | 7.13 | 5.60 | +1.53 |
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Drawdowns
PYLD vs. USO - Drawdown Comparison
The maximum PYLD drawdown since its inception was -4.52%, smaller than the maximum USO drawdown of -98.19%. Use the drawdown chart below to compare losses from any high point for PYLD and USO.
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Drawdown Indicators
| PYLD | USO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -4.52% | -98.19% | +93.67% |
Max Drawdown (1Y)Largest decline over 1 year | -3.25% | -32.49% | +29.24% |
Max Drawdown (3Y)Largest decline over 3 years | -3.88% | -32.49% | +28.61% |
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 | -1.13% | -86.26% | +85.13% |
Average DrawdownAverage peak-to-trough decline | -0.64% | -75.38% | +74.74% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.75% | 12.03% | -11.28% |
Volatility
PYLD vs. USO - Volatility Comparison
The current volatility for PIMCO Multisector Bond Active Exchange-Traded Fund (PYLD) is 0.88%, while United States Oil Fund LP (USO) has a volatility of 17.73%. This indicates that PYLD 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
| PYLD | USO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.88% | 17.73% | -16.85% |
Volatility (6M)Calculated over the trailing 6-month period | 2.73% | 42.79% | -40.06% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.11% | 46.91% | -43.80% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 3.96% | 37.06% | -33.10% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 3.96% | 39.29% | -35.33% |
PYLD vs. USO - Expense Ratio Comparison
PYLD has a 0.55% expense ratio, which is lower than USO's 0.86% expense ratio.
Dividends
PYLD vs. USO - Dividend Comparison
PYLD's dividend yield for the trailing twelve months is around 6.37%, while USO has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 |
|---|---|---|---|---|
PYLD PIMCO Multisector Bond Active Exchange-Traded Fund | 5.88% | 6.21% | 6.40% | 2.72% |
USO United States Oil Fund LP | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
PYLD and USO have a correlation of -0.42, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
USO has higher volatility (17.73%) compared to PYLD (0.88%). In terms of maximum drawdown, PYLD dropped -4.52% vs USO's -98.19%.
On 3-year performance, USO leads with 20.97% vs 7.74% for PYLD. On fees, PYLD is cheaper at 0.55% per year. On volatility, PYLD has been the lower-risk option at 0.88%. 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 20.97% return vs 7.74%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
PYLD is cheaper with a 0.55% expense ratio, compared with 0.86% for USO.
PYLD has the higher dividend yield at 5.88%, compared with 0.00% for USO.
PYLD is categorized as Multisector Bonds, while USO is Oil & Gas. They also come from different issuers: PIMCO and USCF. Their fees differ too: 0.55% for PYLD and 0.86% for USO.
PYLD currently has the higher Sharpe Ratio (1.72 vs 1.34), 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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