PortfoliosLab logoPortfoliosLab logo

Documentation

Upgrade your plan
URA vs. USO
Performance
Return for Risk
Drawdowns
Volatility
Dividends

URA vs. USO

Last updated Jun 4, 2026

URA (Global X Uranium ETF) and USO (United States Oil Fund LP) are both exchange-traded funds - URA is a Commodity Producers Equities fund tracking the Solactive Global Uranium & Nuclear Components Total Return 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, URA returned 17.12%/yr vs 4.07%/yr for USO. At a 0.29 correlation, their price movements are largely independent. URA charges 0.69%/yr vs 0.86%/yr for USO.

Performance

URA vs. USO - Performance Comparison

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

Loading charts...

Returns By Period

In the year-to-date period, URA achieves a 17.93% return, which is significantly lower than USO's 103.67% return. Over the past 10 years, URA has outperformed USO with an annualized return of 17.12%, while USO has yielded a comparatively lower 4.07% annualized return.

URA

1D
-5.67%
1M
-8.00%
YTD
17.93%
6M
13.25%
1Y
61.26%
3Y*
39.27%
5Y*
21.39%
10Y*
17.12%

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)

URA vs. USO - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
URA
Global X Uranium ETF		17.93%67.18%-0.58%46.25%-11.32%57.57%41.33%-3.54%-22.11%19.36%
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 URA and USO is -0.17, 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

-0.17

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

0.03

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

0.18

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

0.22

Correlation (All Time)
Calculated using the full available price history since Nov 8, 2010

0.29

The correlation between URA and USO shifts across timeframes, from -0.17 (1 year) to 0.29 (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.

Global X Uranium ETF

United States Oil Fund LP

Often compared with URA:
URA vs. NLRURA vs. URNMURA vs. NUKZURA vs. CCJURA vs. UUUUURA vs. URANURA vs. U-U.TO
Often compared with USO:
USO vs. XLEUSO vs. BNOUSO vs. UCOUSO vs. USLUSO vs. OILKUSO vs. DBOUSO vs. WTI

Return for Risk

URA vs. USO — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
URA
URA Risk / Return Rank: 3434
Overall Rank
URA Sharpe Ratio Rank: 3333
Sharpe Ratio Rank
URA Sortino Ratio Rank: 3434
Sortino Ratio Rank
URA Omega Ratio Rank: 3131
Omega Ratio Rank
URA Calmar Ratio Rank: 4343
Calmar Ratio Rank
URA Martin Ratio Rank: 3030
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.

URA vs. USO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Global X Uranium ETF (URA) 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.

URAUSODifference
Sharpe ratioReturn per unit of total volatility
1.23
2.31

-1.08

Sortino ratioReturn per unit of downside risk
1.86
2.89

-1.03

Omega ratioGain probability vs. loss probability

1.22

1.38

-0.17

Calmar ratioReturn relative to maximum drawdown

2.17

5.01

-2.84

Martin ratioReturn relative to average drawdown

4.58

9.42

-4.83

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

URA vs. USO - Sharpe Ratio Comparison

The current URA Sharpe Ratio is 1.23, which is lower than the USO Sharpe Ratio of 2.31. The chart below compares the historical Sharpe Ratios of URA 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.

Loading charts...

Sharpe Ratios by Period

URAUSODifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

1.23

2.31

-1.08

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.49

0.68

-0.19

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.46

0.10

+0.35

Sharpe Ratio (All Time)

Calculated using the full available price history

-0.05

-0.18

+0.13

Drawdowns

URA vs. USO - Drawdown Comparison

The maximum URA drawdown since its inception was -93.54%, roughly equal to the maximum USO drawdown of -98.19%. Use the drawdown chart below to compare losses from any high point for URA and USO.

Loading charts...

Drawdown Indicators

URAUSODifference

Max Drawdown

Largest peak-to-trough decline

-93.54%

-98.19%

+4.65%

Max Drawdown (1Y)

Largest decline over 1 year

-28.43%

-20.39%

-8.04%

Max Drawdown (3Y)

Largest decline over 3 years

-37.81%

-26.05%

-11.76%

Max Drawdown (5Y)

Largest decline over 5 years

-37.90%

-36.23%

-1.67%

Max Drawdown (10Y)

Largest decline over 10 years

-61.45%

-86.75%

+25.30%

Current Drawdown

Current decline from peak

-42.81%

-85.01%

+42.20%

Average Drawdown

Average peak-to-trough decline

-75.01%

-75.30%

+0.29%

Ulcer Index

Depth and duration of drawdowns from previous peaks

13.40%

10.82%

+2.58%

Volatility

URA vs. USO - Volatility Comparison

Global X Uranium ETF (URA) has a higher volatility of 15.94% compared to United States Oil Fund LP (USO) at 14.87%. This indicates that URA'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

URAUSODifference

Volatility (1M)

Calculated over the trailing 1-month period

15.94%

14.87%

+1.07%

Volatility (6M)

Calculated over the trailing 6-month period

38.29%

38.23%

+0.06%

Volatility (1Y)

Calculated over the trailing 1-year period

50.19%

44.20%

+5.99%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

43.62%

36.06%

+7.56%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

37.73%

39.00%

-1.27%

URA vs. USO - Expense Ratio Comparison

URA has a 0.69% expense ratio, which is lower than USO's 0.86% expense ratio.

Dividends

URA vs. USO - Dividend Comparison

URA's dividend yield for the trailing twelve months is around 4.14%, while USO has not paid dividends to shareholders.

PositionTTM20252024202320222021202020192018201720162015
URA
Global X Uranium ETF		4.14%4.88%2.86%6.07%0.76%5.84%1.69%1.66%0.44%2.03%7.28%1.96%
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

URA and USO have a correlation of -0.17, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

URA has higher volatility (15.94%) compared to USO (14.87%). In terms of maximum drawdown, URA dropped -93.54% vs USO's -98.19%.

On 10-year performance, URA leads with 17.12% vs 4.07% for USO. On fees, URA is cheaper at 0.69% 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, URA has performed better with a 17.12% return vs 4.07%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

URA is cheaper with a 0.69% expense ratio, compared with 0.86% for USO.

URA has the higher dividend yield at 4.14%, compared with 0.00% for USO.

URA is categorized as Commodity Producers Equities, while USO is Oil & Gas. URA tracks Solactive Global Uranium & Nuclear Components Total Return Index, while USO tracks Front Month Light Sweet Crude Oil. They also come from different issuers: Global X and USCF. Their fees differ too: 0.69% for URA and 0.86% for USO.

USO currently has the higher Sharpe Ratio (2.31 vs 1.23), 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

Find the right allocation for URA 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