SIVR vs. USO
SIVR (abrdn Physical Silver Shares ETF) and USO (United States Oil Fund LP) are both exchange-traded funds - SIVR is a Silver fund tracking the LBMA Silver Price ($/ozt), while USO is a Oil & Gas fund tracking the Front Month Light Sweet Crude Oil. Both are passively managed. Over the past 10 years, SIVR returned 15.77%/yr vs 4.07%/yr for USO. At a 0.21 correlation, their price movements are largely independent. SIVR charges 0.30%/yr vs 0.86%/yr for USO.
Performance
SIVR vs. USO - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, SIVR achieves a 2.85% return, which is significantly lower than USO's 103.67% return. Over the past 10 years, SIVR has outperformed USO with an annualized return of 15.77%, while USO has yielded a comparatively lower 4.07% annualized return.
SIVR
- 1D
- -2.62%
- 1M
- 0.42%
- YTD
- 2.85%
- 6M
- 24.90%
- 1Y
- 110.95%
- 3Y*
- 45.38%
- 5Y*
- 21.00%
- 10Y*
- 15.77%
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%
SIVR vs. USO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
SIVR abrdn Physical Silver Shares ETF | 2.85% | 145.34% | 21.08% | -0.91% | 2.59% | -12.33% | 47.52% | 15.17% | -8.96% | 5.97% |
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 SIVR and USO is -0.11, 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 | -0.11 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.07 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.14 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.12 |
Correlation (All Time) Calculated using the full available price history since Jul 27, 2009 | 0.21 |
The correlation between SIVR and USO shifts across timeframes, from -0.11 (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.
Return for Risk
SIVR vs. USO — Risk / Return Rank
SIVR
USO
SIVR vs. USO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for abrdn Physical Silver Shares ETF (SIVR) 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.
| SIVR | USO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.41 | ||
| Sortino ratioReturn per unit of downside risk | -0.82 | ||
| Omega ratioGain probability vs. loss probability | 1.35 | 1.38 | -0.03 |
| Calmar ratioReturn relative to maximum drawdown | 2.63 | 5.01 | -2.38 |
| Martin ratioReturn relative to average drawdown | 5.67 | 9.42 | -3.75 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
Loading charts...
Sharpe Ratios by Period
| SIVR | USO | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.90 | 2.31 | -0.41 |
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 | 0.50 | 0.10 | +0.39 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.32 | -0.18 | +0.49 |
Drawdowns
SIVR vs. USO - Drawdown Comparison
The maximum SIVR drawdown since its inception was -75.85%, smaller than the maximum USO drawdown of -98.19%. Use the drawdown chart below to compare losses from any high point for SIVR and USO.
Loading charts...
Drawdown Indicators
| SIVR | USO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -75.85% | -98.19% | +22.34% |
Max Drawdown (1Y)Largest decline over 1 year | -42.42% | -20.39% | -22.03% |
Max Drawdown (3Y)Largest decline over 3 years | -42.42% | -26.05% | -16.37% |
Max Drawdown (5Y)Largest decline over 5 years | -42.42% | -36.23% | -6.19% |
Max Drawdown (10Y)Largest decline over 10 years | -42.42% | -86.75% | +44.33% |
Current DrawdownCurrent decline from peak | -37.25% | -85.01% | +47.76% |
Average DrawdownAverage peak-to-trough decline | -47.85% | -75.30% | +27.45% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 19.64% | 10.82% | +8.82% |
Volatility
SIVR vs. USO - Volatility Comparison
abrdn Physical Silver Shares ETF (SIVR) has a higher volatility of 16.28% compared to United States Oil Fund LP (USO) at 14.87%. This indicates that SIVR's price experiences larger fluctuations and is considered to be riskier than USO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| SIVR | USO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 16.28% | 14.87% | +1.41% |
Volatility (6M)Calculated over the trailing 6-month period | 58.30% | 38.23% | +20.07% |
Volatility (1Y)Calculated over the trailing 1-year period | 58.84% | 44.20% | +14.64% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 36.17% | 36.06% | +0.11% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 31.87% | 39.00% | -7.13% |
SIVR vs. USO - Expense Ratio Comparison
SIVR has a 0.30% expense ratio, which is lower than USO's 0.86% expense ratio.
Dividends
SIVR vs. USO - Dividend Comparison
Neither SIVR nor USO has paid dividends to shareholders.
Frequently Asked Questions
SIVR and USO have a correlation of -0.11, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
SIVR has higher volatility (16.28%) compared to USO (14.87%). In terms of maximum drawdown, SIVR dropped -75.85% vs USO's -98.19%.
On 10-year performance, SIVR leads with 15.77% vs 4.07% for USO. On fees, SIVR is cheaper at 0.30% per year. On volatility, USO has been the lower-risk option at 14.87%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, SIVR has performed better with a 15.77% return vs 4.07%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
SIVR is cheaper with a 0.30% expense ratio, compared with 0.86% for USO.
SIVR and USO have nearly identical dividend yields, around 0.00%.
SIVR is categorized as Silver, while USO is Oil & Gas. SIVR tracks LBMA Silver Price ($/ozt), while USO tracks Front Month Light Sweet Crude Oil. They also come from different issuers: abrdn and USCF. Their fees differ too: 0.30% for SIVR and 0.86% for USO.
USO currently has the higher Sharpe Ratio (2.31 vs 1.90), 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.
Find the right allocation for SIVR and USO
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer