TUSI vs. USO

Last updated Aug 2, 2026

TUSI (Touchstone Ultra Short Income ETF) and USO (United States Oil Fund LP) are both exchange-traded funds - TUSI is a Ultrashort Bond fund actively managed by Touchstone, while USO is a Oil & Gas fund tracking the Front Month Light Sweet Crude Oil. TUSI is actively managed, while USO is passively managed. Over the past 3 years, TUSI returned 5.64%/yr vs 20.97%/yr for USO. Their -0.06 correlation means they have often moved in opposite directions in the past. TUSI charges 0.25%/yr vs 0.86%/yr for USO.

Performance

TUSI vs. USO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Touchstone Ultra Short Income ETF (TUSI) and United States Oil Fund LP (USO). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, TUSI achieves a 2.29% return, which is significantly lower than USO's 86.77% return.

TUSI

• 1D: 0.04%
• 1M: 0.33%
• 6M: 1.85%
• YTD: 2.29%
• 1Y: 4.41%
• 3Y*: 5.64%
• 5Y*: —
• 10Y*: —
• ALL TIME*: 5.34%

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%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
TUSI Touchstone Ultra Short Income ETF	$5.81M	$6.03M	$6.32M
USO United States Oil Fund LP	$968.42M	$871.56M	$931.57M

TUSI vs. USO - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
TUSI Touchstone Ultra Short Income ETF	2.29%	5.09%	6.51%	6.53%	0.84%
USO United States Oil Fund LP	86.77%	-8.46%	13.35%	-4.94%	-2.00%

Correlation

The correlation between TUSI and USO is -0.15, 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.	-0.15
Correlation (3Y) Balances recent behavior with more history.	-0.09
Correlation (All Time) Calculated using the full available price history since Aug 8, 2022	-0.06

Return for Risk

TUSI vs. USO — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

TUSI

TUSI Risk / Return Rank: 98
TUSI Sharpe Ratio Rank: 98
TUSI Sortino Ratio Rank: 98
TUSI Omega Ratio Rank: 98
TUSI Calmar Ratio Rank: 99
TUSI Martin Ratio Rank: 99

USO

USO Risk / Return Rank: 55
USO Sharpe Ratio Rank: 56
USO Sortino Ratio Rank: 59
USO Omega Ratio Rank: 57
USO Calmar Ratio Rank: 55
USO Martin Ratio Rank: 49

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

TUSI vs. USO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Touchstone Ultra Short Income ETF (TUSI) 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.

	TUSI	USO	Difference
Sharpe ratio: Return per unit of total volatility	4.32	1.34	+2.98
Sortino ratio: Return per unit of downside risk	7.29	1.99	+5.30
Omega ratio: Gain probability vs. loss probability	2.06	1.25	+0.81
Calmar ratio: Return relative to maximum drawdown	19.30	1.93	+17.38
Martin ratio: Return relative to average drawdown	78.16	5.60	+72.56

TUSI vs. USO - Sharpe Ratio Comparison

The current TUSI Sharpe Ratio is 4.32, which is higher than the USO Sharpe Ratio of 1.34. The chart below compares the historical Sharpe Ratios of TUSI 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.

Drawdowns

TUSI vs. USO - Drawdown Comparison

The maximum TUSI drawdown since its inception was -0.40%, smaller than the maximum USO drawdown of -98.19%. Use the drawdown chart below to compare losses from any high point for TUSI and USO.

Drawdown Indicators

	TUSI	USO	Difference
Max Drawdown Largest peak-to-trough decline	-0.40%	-98.19%	+97.79%
Max Drawdown (1Y) Largest decline over 1 year	-0.24%	-32.49%	+32.25%
Max Drawdown (3Y) Largest decline over 3 years	-0.39%	-32.49%	+32.10%
Max Drawdown (5Y) Largest decline over 5 years	—	-36.23%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-86.75%	—
Current Drawdown Current decline from peak	0.00%	-86.26%	+86.26%
Average Drawdown Average peak-to-trough decline	-0.04%	-75.38%	+75.34%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.06%	12.03%	-11.97%

Volatility

TUSI vs. USO - Volatility Comparison

The current volatility for Touchstone Ultra Short Income ETF (TUSI) is 0.32%, while United States Oil Fund LP (USO) has a volatility of 17.73%. This indicates that TUSI 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.

Volatility by Period

	TUSI	USO	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.32%	17.73%	-17.41%
Volatility (6M) Calculated over the trailing 6-month period	0.74%	42.79%	-42.05%
Volatility (1Y) Calculated over the trailing 1-year period	1.05%	46.91%	-45.86%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	0.97%	37.06%	-36.09%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	0.97%	39.29%	-38.32%

TUSI vs. USO - Expense Ratio Comparison

TUSI has a 0.25% expense ratio, which is lower than USO's 0.86% expense ratio.

Dividends

TUSI vs. USO - Dividend Comparison

TUSI's dividend yield for the trailing twelve months is around 4.56%, while USO has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022
TUSI Touchstone Ultra Short Income ETF	4.56%	4.85%	5.50%	5.41%	1.38%
USO United States Oil Fund LP	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both TUSI and USO in my portfolio?

TUSI and USO have a correlation of -0.15, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, TUSI or USO?

USO has higher volatility (17.73%) compared to TUSI (0.32%). In terms of maximum drawdown, TUSI dropped -0.40% vs USO's -98.19%.

Which ETF is better, TUSI or USO?

On 3-year performance, USO leads with 20.97% vs 5.64% for TUSI. On fees, TUSI is cheaper at 0.25% per year. On volatility, TUSI has been the lower-risk option at 0.32%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, TUSI or USO?

Over the 3-year period, USO has performed better with a 20.97% return vs 5.64%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, TUSI or USO?

TUSI is cheaper with a 0.25% expense ratio, compared with 0.86% for USO.

Which ETF pays a higher dividend yield, TUSI or USO?

TUSI has the higher dividend yield at 4.56%, compared with 0.00% for USO.

What is the main difference between TUSI and USO?

TUSI is categorized as Ultrashort Bond, while USO is Oil & Gas. They also come from different issuers: Touchstone and USCF. Their fees differ too: 0.25% for TUSI and 0.86% for USO.

Which has better risk-adjusted returns?

TUSI currently has the higher Sharpe Ratio (4.32 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.