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QMOM vs. USO
Performance
Return for Risk
Drawdowns
Volatility
Dividends

QMOM vs. USO

Last updated Jun 3, 2026

QMOM (Alpha Architect U.S. Quantitative Momentum ETF) and USO (United States Oil Fund LP) are both exchange-traded funds - QMOM is a Momentum fund actively managed by Alpha Architect, while USO is a Oil & Gas fund tracking the Front Month Light Sweet Crude Oil. QMOM is actively managed, while USO is passively managed. Over the past 10 years, QMOM returned 13.86%/yr vs 3.80%/yr for USO. At a 0.19 correlation, their price movements are largely independent. QMOM charges 0.28%/yr vs 0.86%/yr for USO.

Performance

QMOM vs. USO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Alpha Architect U.S. Quantitative Momentum ETF (QMOM) 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, QMOM achieves a 25.11% return, which is significantly lower than USO's 98.48% return. Over the past 10 years, QMOM has outperformed USO with an annualized return of 13.86%, while USO has yielded a comparatively lower 3.80% annualized return.

QMOM

1D
1.78%
1M
6.76%
YTD
25.11%
6M
27.55%
1Y
32.33%
3Y*
23.37%
5Y*
11.72%
10Y*
13.86%

USO

1D
1.31%
1M
-3.87%
YTD
98.48%
6M
95.54%
1Y
97.37%
3Y*
28.86%
5Y*
23.92%
10Y*
3.80%
*Multi-year figures are annualized to reflect compound growth (CAGR)

QMOM vs. USO - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
QMOM
Alpha Architect U.S. Quantitative Momentum ETF		25.11%2.36%30.43%9.50%-6.99%-4.06%61.94%28.39%-11.75%15.92%
USO
United States Oil Fund LP		98.48%-8.46%13.35%-4.94%28.97%64.68%-67.79%32.61%-19.57%2.47%

Correlation

The correlation between QMOM and USO is -0.22, 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

-0.22

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

-0.02

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

0.19

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

0.19

Correlation (All Time)
Calculated using the full available price history since Jan 5, 2016

0.19

The correlation between QMOM and USO shifts across timeframes, from -0.22 (1 year) to 0.19 (10 years), 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.

Alpha Architect U.S. Quantitative Momentum ETF

United States Oil Fund LP

Often compared with QMOM:
QMOM vs. SPMOQMOM vs. MTUMQMOM vs. IWMO.LQMOM vs. VFMOQMOM vs. VOOQMOM vs. AVUVQMOM vs. XMMO
Often compared with USO:
USO vs. XLEUSO vs. BNOUSO vs. UCOUSO vs. USLUSO vs. OILKUSO vs. DBOUSO vs. WTI

Return for Risk

QMOM vs. USO — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
QMOM
QMOM Risk / Return Rank: 4444
Overall Rank
QMOM Sharpe Ratio Rank: 3939
Sharpe Ratio Rank
QMOM Sortino Ratio Rank: 3737
Sortino Ratio Rank
QMOM Omega Ratio Rank: 3838
Omega Ratio Rank
QMOM Calmar Ratio Rank: 5252
Calmar Ratio Rank
QMOM Martin Ratio Rank: 5656
Martin Ratio Rank
USO
USO Risk / Return Rank: 6666
Overall Rank
USO Sharpe Ratio Rank: 6666
Sharpe Ratio Rank
USO Sortino Ratio Rank: 5959
Sortino Ratio Rank
USO Omega Ratio Rank: 6161
Omega Ratio Rank
USO Calmar Ratio Rank: 8888
Calmar Ratio Rank
USO Martin Ratio Rank: 5555
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.

QMOM vs. USO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Alpha Architect U.S. Quantitative Momentum ETF (QMOM) 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.

QMOMUSODifference

Sharpe ratio

Return per unit of total volatility

1.39

2.22

-0.82

Sortino ratio

Return per unit of downside risk

1.95

2.81

-0.87

Omega ratio

Gain probability vs. loss probability

1.25

1.37

-0.12

Calmar ratio

Return relative to maximum drawdown

2.63

5.12

-2.50

Martin ratio

Return relative to average drawdown

9.61

9.66

-0.05

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

QMOM vs. USO - Sharpe Ratio Comparison

The current QMOM Sharpe Ratio is 1.39, which is lower than the USO Sharpe Ratio of 2.22. The chart below compares the historical Sharpe Ratios of QMOM 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

QMOMUSODifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

1.39

2.22

-0.82

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.49

0.67

-0.18

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.53

0.10

+0.43

Sharpe Ratio (All Time)

Calculated using the full available price history

0.52

-0.18

+0.70

Drawdowns

QMOM vs. USO - Drawdown Comparison

The maximum QMOM drawdown since its inception was -39.13%, smaller than the maximum USO drawdown of -98.19%. Use the drawdown chart below to compare losses from any high point for QMOM and USO.

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Drawdown Indicators

QMOMUSODifference

Max Drawdown

Largest peak-to-trough decline

-39.13%

-98.19%

+59.06%

Max Drawdown (1Y)

Largest decline over 1 year

-12.65%

-20.39%

+7.74%

Max Drawdown (3Y)

Largest decline over 3 years

-26.46%

-26.05%

-0.41%

Max Drawdown (5Y)

Largest decline over 5 years

-26.82%

-36.23%

+9.41%

Max Drawdown (10Y)

Largest decline over 10 years

-39.13%

-86.75%

+47.62%

Current Drawdown

Current decline from peak

0.00%

-85.39%

+85.39%

Average Drawdown

Average peak-to-trough decline

-12.92%

-75.30%

+62.38%

Ulcer Index

Depth and duration of drawdowns from previous peaks

3.45%

10.81%

-7.36%

Volatility

QMOM vs. USO - Volatility Comparison

The current volatility for Alpha Architect U.S. Quantitative Momentum ETF (QMOM) is 8.29%, while United States Oil Fund LP (USO) has a volatility of 15.03%. This indicates that QMOM 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

QMOMUSODifference

Volatility (1M)

Calculated over the trailing 1-month period

8.29%

15.03%

-6.74%

Volatility (6M)

Calculated over the trailing 6-month period

19.87%

38.18%

-18.31%

Volatility (1Y)

Calculated over the trailing 1-year period

23.30%

44.26%

-20.96%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

24.20%

36.04%

-11.84%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

26.49%

39.00%

-12.51%

QMOM vs. USO - Expense Ratio Comparison

QMOM has a 0.28% expense ratio, which is lower than USO's 0.86% expense ratio.

Dividends

QMOM vs. USO - Dividend Comparison

QMOM's dividend yield for the trailing twelve months is around 0.43%, while USO has not paid dividends to shareholders.

PositionTTM2025202420232022202120202019201820172016
QMOM
Alpha Architect U.S. Quantitative Momentum ETF		0.43%0.54%1.40%0.87%1.59%0.12%0.08%0.01%0.05%0.13%0.34%
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

QMOM and USO have a correlation of -0.22, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

USO has higher volatility (15.03%) compared to QMOM (8.29%). In terms of maximum drawdown, QMOM dropped -39.13% vs USO's -98.19%.

On 10-year performance, QMOM leads with 13.86% vs 3.80% for USO. On fees, QMOM is cheaper at 0.28% per year. On volatility, QMOM has been the lower-risk option at 8.29%. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 10-year period, QMOM has performed better with a 13.86% return vs 3.80%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

QMOM is cheaper with a 0.28% expense ratio, compared with 0.86% for USO.

QMOM has the higher dividend yield at 0.43%, compared with 0.00% for USO.

QMOM is categorized as Momentum, while USO is Oil & Gas. They also come from different issuers: Alpha Architect and USCF. Their fees differ too: 0.28% for QMOM and 0.86% for USO.

USO currently has the higher Sharpe Ratio (2.22 vs 1.39), 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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