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QTEC vs. USO
Performance
Return for Risk
Drawdowns
Volatility
Dividends

QTEC vs. USO

Last updated Jun 4, 2026

QTEC (First Trust NASDAQ-100 Technology Sector Index Fund) and USO (United States Oil Fund LP) are both exchange-traded funds - QTEC is a Nasdaq-100 fund tracking the NASDAQ-100 Technology Sector 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, QTEC returned 23.00%/yr vs 4.07%/yr for USO. At a 0.21 correlation, their price movements are largely independent. QTEC charges 0.57%/yr vs 0.86%/yr for USO.

Performance

QTEC vs. USO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in First Trust NASDAQ-100 Technology Sector Index Fund (QTEC) 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, QTEC achieves a 44.73% return, which is significantly lower than USO's 103.67% return. Over the past 10 years, QTEC has outperformed USO with an annualized return of 23.00%, while USO has yielded a comparatively lower 4.07% annualized return.

QTEC

1D
0.07%
1M
22.39%
YTD
44.73%
6M
40.31%
1Y
67.84%
3Y*
32.86%
5Y*
17.61%
10Y*
23.00%

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)

QTEC vs. USO - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
QTEC
First Trust NASDAQ-100 Technology Sector Index Fund		44.73%22.28%7.32%67.02%-39.83%26.89%38.76%48.22%-4.62%37.78%
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 QTEC and USO is -0.25, 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

-0.25

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

-0.04

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

0.05

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

0.12

Correlation (All Time)
Calculated using the full available price history since May 3, 2006

0.21

The correlation between QTEC and USO shifts across timeframes, from -0.25 (1 year) to 0.21 (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.

First Trust NASDAQ-100 Technology Sector Index Fund

United States Oil Fund LP

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Often compared with USO:
USO vs. XLEUSO vs. BNOUSO vs. UCOUSO vs. USLUSO vs. OILKUSO vs. DBOUSO vs. WTI

Return for Risk

QTEC vs. USO — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
QTEC
QTEC Risk / Return Rank: 8080
Overall Rank
QTEC Sharpe Ratio Rank: 8888
Sharpe Ratio Rank
QTEC Sortino Ratio Rank: 8080
Sortino Ratio Rank
QTEC Omega Ratio Rank: 7878
Omega Ratio Rank
QTEC Calmar Ratio Rank: 8181
Calmar Ratio Rank
QTEC Martin Ratio Rank: 7272
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.

QTEC vs. USO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for First Trust NASDAQ-100 Technology Sector Index Fund (QTEC) 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.

QTECUSODifference
Sharpe ratioReturn per unit of total volatility
2.97
2.31

+0.66

Sortino ratioReturn per unit of downside risk
3.67
2.89

+0.78

Omega ratioGain probability vs. loss probability

1.47

1.38

+0.09

Calmar ratioReturn relative to maximum drawdown

4.25

5.01

-0.75

Martin ratioReturn relative to average drawdown

13.77

9.42

+4.35

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

QTEC vs. USO - Sharpe Ratio Comparison

The current QTEC Sharpe Ratio is 2.97, which is comparable to the USO Sharpe Ratio of 2.31. The chart below compares the historical Sharpe Ratios of QTEC 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

QTECUSODifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

2.97

2.31

+0.66

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.61

0.68

-0.07

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.84

0.10

+0.73

Sharpe Ratio (All Time)

Calculated using the full available price history

0.60

-0.18

+0.78

Drawdowns

QTEC vs. USO - Drawdown Comparison

The maximum QTEC drawdown since its inception was -58.86%, smaller than the maximum USO drawdown of -98.19%. Use the drawdown chart below to compare losses from any high point for QTEC and USO.

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Drawdown Indicators

QTECUSODifference

Max Drawdown

Largest peak-to-trough decline

-58.86%

-98.19%

+39.33%

Max Drawdown (1Y)

Largest decline over 1 year

-16.03%

-20.39%

+4.36%

Max Drawdown (3Y)

Largest decline over 3 years

-29.00%

-26.05%

-2.95%

Max Drawdown (5Y)

Largest decline over 5 years

-45.54%

-36.23%

-9.31%

Max Drawdown (10Y)

Largest decline over 10 years

-45.54%

-86.75%

+41.21%

Current Drawdown

Current decline from peak

0.00%

-85.01%

+85.01%

Average Drawdown

Average peak-to-trough decline

-9.89%

-75.30%

+65.41%

Ulcer Index

Depth and duration of drawdowns from previous peaks

4.94%

10.82%

-5.88%

Volatility

QTEC vs. USO - Volatility Comparison

The current volatility for First Trust NASDAQ-100 Technology Sector Index Fund (QTEC) is 7.34%, while United States Oil Fund LP (USO) has a volatility of 14.87%. This indicates that QTEC 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

QTECUSODifference

Volatility (1M)

Calculated over the trailing 1-month period

7.34%

14.87%

-7.53%

Volatility (6M)

Calculated over the trailing 6-month period

18.26%

38.23%

-19.97%

Volatility (1Y)

Calculated over the trailing 1-year period

22.98%

44.20%

-21.22%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

29.19%

36.06%

-6.87%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

27.51%

39.00%

-11.49%

QTEC vs. USO - Expense Ratio Comparison

QTEC has a 0.57% expense ratio, which is lower than USO's 0.86% expense ratio.

Dividends

QTEC vs. USO - Dividend Comparison

Neither QTEC nor USO has paid dividends to shareholders.

PositionTTM20252024202320222021202020192018201720162015
QTEC
First Trust NASDAQ-100 Technology Sector Index Fund		0.00%0.00%0.02%0.14%0.15%0.02%0.44%0.68%0.91%0.80%1.29%0.99%
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

QTEC and USO have a correlation of -0.25, 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 QTEC (7.34%). In terms of maximum drawdown, QTEC dropped -58.86% vs USO's -98.19%.

On 10-year performance, QTEC leads with 23.00% vs 4.07% for USO. On fees, QTEC is cheaper at 0.57% per year. On volatility, QTEC has been the lower-risk option at 7.34%. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 10-year period, QTEC has performed better with a 23.00% return vs 4.07%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

QTEC is cheaper with a 0.57% expense ratio, compared with 0.86% for USO.

QTEC and USO have nearly identical dividend yields, around 0.00%.

QTEC is categorized as Nasdaq-100, while USO is Oil & Gas. QTEC tracks NASDAQ-100 Technology Sector Index, while USO tracks Front Month Light Sweet Crude Oil. They also come from different issuers: First Trust and USCF. Their fees differ too: 0.57% for QTEC and 0.86% for USO.

QTEC currently has the higher Sharpe Ratio (2.97 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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