TMFX vs. USL

Last updated Jun 4, 2026

TMFX (Motley Fool Next Index ETF) and USL (United States 12 Month Oil Fund LP) are both exchange-traded funds - TMFX is a Mid Cap Growth Equities fund tracking the Motley Fool Next Index, while USL is a Oil & Gas fund tracking the 12 Month Light Sweet Crude Oil. Both are passively managed. Over the past 3 years, TMFX returned 13.61%/yr vs 18.42%/yr for USL. At a 0.05 correlation, their price movements are largely independent. TMFX charges 0.50%/yr vs 0.88%/yr for USL.

Performance

TMFX vs. USL - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Motley Fool Next Index ETF (TMFX) and United States 12 Month Oil Fund LP (USL). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, TMFX achieves a 4.09% return, which is significantly lower than USL's 63.07% return.

TMFX

• 1D: -0.92%
• 1M: 5.95%
• YTD: 4.09%
• 6M: 4.52%
• 1Y: 12.73%
• 3Y*: 13.61%
• 5Y*: —
• 10Y*: —

USL

• 1D: 1.55%
• 1M: -1.61%
• YTD: 63.07%
• 6M: 59.66%
• 1Y: 57.86%
• 3Y*: 18.42%
• 5Y*: 17.41%
• 10Y*: 10.91%

*Multi-year figures are annualized to reflect compound growth (CAGR)

TMFX vs. USL - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
TMFX Motley Fool Next Index ETF	4.09%	10.41%	16.04%	17.95%	-28.16%
USL United States 12 Month Oil Fund LP	63.07%	-12.37%	8.30%	-1.11%	27.10%

Correlation

The correlation between TMFX and USL is -0.26, 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	-0.26
Correlation (3Y) Calculated over the trailing 3-year period	-0.02
Correlation (All Time) Calculated using the full available price history since Jan 3, 2022	0.05

The correlation between TMFX and USL shifts across timeframes, from -0.26 (1 year) to 0.05 (all time), reflecting how their relationship changes across market environments.

TMFX vs. USL - Sectors Allocation Comparison

Sectors	TMFX	USL
Technology	28.8%	-
Healthcare	17.6%	-
Consumer Cyclical	16.9%	-
Industrials	14.1%	-
Financial Services	10.5%	4.5%
Communication Services	5.6%	-
Consumer Defensive	2.7%	-
Real Estate	2.1%	-
Basic Materials	1.6%	-
Energy	0.0%	-
Utilities	-	-

Return for Risk

TMFX vs. USL — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

TMFX

TMFX Risk / Return Rank: 21
TMFX Sharpe Ratio Rank: 21
TMFX Sortino Ratio Rank: 21
TMFX Omega Ratio Rank: 20
TMFX Calmar Ratio Rank: 21
TMFX Martin Ratio Rank: 23

USL

USL Risk / Return Rank: 56
USL Sharpe Ratio Rank: 59
USL Sortino Ratio Rank: 53
USL Omega Ratio Rank: 54
USL Calmar Ratio Rank: 69
USL Martin Ratio Rank: 43

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.

TMFX vs. USL - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Motley Fool Next Index ETF (TMFX) and United States 12 Month Oil Fund LP (USL). 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.

	TMFX	USL	Difference
Sharpe ratio Return per unit of total volatility	0.76	2.04	-1.28
Sortino ratio Return per unit of downside risk	1.18	2.58	-1.40
Omega ratio Gain probability vs. loss probability	1.13	1.34	-0.20
Calmar ratio Return relative to maximum drawdown	0.92	3.47	-2.55
Martin ratio Return relative to average drawdown	2.93	7.02	-4.09
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

TMFX vs. USL - Sharpe Ratio Comparison

The current TMFX Sharpe Ratio is 0.76, which is lower than the USL Sharpe Ratio of 2.04. The chart below compares the historical Sharpe Ratios of TMFX and USL, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	TMFX	USL	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.76	2.04	-1.28
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.58	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.34	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.12	0.01	+0.11

Drawdowns

TMFX vs. USL - Drawdown Comparison

The maximum TMFX drawdown since its inception was -34.30%, smaller than the maximum USL drawdown of -89.06%. Use the drawdown chart below to compare losses from any high point for TMFX and USL.

Drawdown Indicators

	TMFX	USL	Difference
Max Drawdown Largest peak-to-trough decline	-34.30%	-89.06%	+54.76%
Max Drawdown (1Y) Largest decline over 1 year	-13.95%	-16.76%	+2.81%
Max Drawdown (3Y) Largest decline over 3 years	-24.05%	-23.33%	-0.72%
Max Drawdown (5Y) Largest decline over 5 years	—	-33.82%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-66.02%	—
Current Drawdown Current decline from peak	-1.78%	-38.16%	+36.38%
Average Drawdown Average peak-to-trough decline	-14.38%	-61.46%	+47.08%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.35%	8.27%	-3.92%

Volatility

TMFX vs. USL - Volatility Comparison

The current volatility for Motley Fool Next Index ETF (TMFX) is 4.11%, while United States 12 Month Oil Fund LP (USL) has a volatility of 10.53%. This indicates that TMFX experiences smaller price fluctuations and is considered to be less risky than USL based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	TMFX	USL	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.11%	10.53%	-6.42%
Volatility (6M) Calculated over the trailing 6-month period	12.33%	23.33%	-11.00%
Volatility (1Y) Calculated over the trailing 1-year period	16.86%	28.54%	-11.68%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	23.39%	30.08%	-6.69%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	23.39%	32.35%	-8.96%

TMFX vs. USL - Expense Ratio Comparison

TMFX has a 0.50% expense ratio, which is lower than USL's 0.88% expense ratio.

Dividends

TMFX vs. USL - Dividend Comparison

TMFX's dividend yield for the trailing twelve months is around 0.05%, while USL has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022
TMFX Motley Fool Next Index ETF	0.05%	0.05%	0.06%	0.16%	0.22%
USL United States 12 Month Oil Fund LP	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both TMFX and USL in my portfolio?

TMFX and USL have a correlation of -0.26, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, TMFX or USL?

USL has higher volatility (10.53%) compared to TMFX (4.11%). In terms of maximum drawdown, TMFX dropped -34.30% vs USL's -89.06%.

Which ETF is better, TMFX or USL?

On 3-year performance, USL leads with 18.42% vs 13.61% for TMFX. On fees, TMFX is cheaper at 0.50% per year. On volatility, TMFX has been the lower-risk option at 4.11%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, TMFX or USL?

Over the 3-year period, USL has performed better with a 18.42% return vs 13.61%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, TMFX or USL?

TMFX is cheaper with a 0.50% expense ratio, compared with 0.88% for USL.

Which ETF pays a higher dividend yield, TMFX or USL?

TMFX has the higher dividend yield at 0.05%, compared with 0.00% for USL.

What is the main difference between TMFX and USL?

TMFX is categorized as Mid Cap Growth Equities, while USL is Oil & Gas. TMFX tracks Motley Fool Next Index, while USL tracks 12 Month Light Sweet Crude Oil. They also come from different issuers: Motley Fool and Concierge Technologies. Their fees differ too: 0.50% for TMFX and 0.88% for USL.

Which has better risk-adjusted returns?

USL currently has the higher Sharpe Ratio (2.04 vs 0.76), 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.