USAI vs. HESM

Last updated Jun 26, 2026

USAI (Pacer American Energy Independence ETF) is Energy Equities fund tracking the American Energy Independence Index, while HESM (Hess Midstream LP) is a stock. Over the past 5 years, USAI returned 18.72%/yr vs 17.00%/yr for HESM. A 0.65 correlation means they provide meaningful diversification when combined.

Performance

USAI vs. HESM - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Pacer American Energy Independence ETF (USAI) and Hess Midstream LP (HESM). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, USAI achieves a 22.85% return, which is significantly higher than HESM's 14.51% return.

USAI

• 1D: 1.67%
• 1M: -2.02%
• YTD: 22.85%
• 6M: 23.14%
• 1Y: 21.57%
• 3Y*: 25.93%
• 5Y*: 18.72%
• 10Y*: —

HESM

• 1D: 1.61%
• 1M: -4.25%
• YTD: 14.51%
• 6M: 14.57%
• 1Y: 8.87%
• 3Y*: 17.09%
• 5Y*: 17.00%
• 10Y*: —

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

USAI vs. HESM - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
USAI Pacer American Energy Independence ETF	22.85%	0.69%	43.99%	14.21%	19.82%	37.10%	-15.10%	21.63%	-17.31%	3.77%
HESM Hess Midstream LP	14.51%	0.56%	26.41%	14.36%	16.62%	52.91%	-5.29%	43.83%	-8.61%	-4.53%

Correlation

The correlation between USAI and HESM is 0.68, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.68
Correlation (3Y) Calculated over the trailing 3-year period	0.71
Correlation (5Y) Calculated over the trailing 5-year period	0.74
Correlation (All Time) Calculated using the full available price history since Dec 13, 2017	0.65

The correlation between USAI and HESM has been stable across timeframes, ranging from 0.65 to 0.74 - a consistent structural relationship.

Return for Risk

USAI vs. HESM — Risk / Return Rank

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

USAI

USAI Risk / Return Rank: 43
USAI Sharpe Ratio Rank: 43
USAI Sortino Ratio Rank: 41
USAI Omega Ratio Rank: 38
USAI Calmar Ratio Rank: 56
USAI Martin Ratio Rank: 37

HESM

HESM Risk / Return Rank: 52
HESM Sharpe Ratio Rank: 56
HESM Sortino Ratio Rank: 48
HESM Omega Ratio Rank: 49
HESM Calmar Ratio Rank: 52
HESM Martin Ratio Rank: 52

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.

USAI vs. HESM - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Pacer American Energy Independence ETF (USAI) and Hess Midstream LP (HESM). 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.

	USAI	HESM	Difference
Sharpe ratio: Return per unit of total volatility	1.35	0.37	+0.98
Sortino ratio: Return per unit of downside risk	1.88	0.64	+1.25
Omega ratio: Gain probability vs. loss probability	1.23	1.09	+0.14
Calmar ratio: Return relative to maximum drawdown	2.41	0.35	+2.06
Martin ratio: Return relative to average drawdown	5.05	0.70	+4.35

USAI vs. HESM - Sharpe Ratio Comparison

The current USAI Sharpe Ratio is 1.35, which is higher than the HESM Sharpe Ratio of 0.37. The chart below compares the historical Sharpe Ratios of USAI and HESM, 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

USAI vs. HESM - Drawdown Comparison

The maximum USAI drawdown since its inception was -65.25%, smaller than the maximum HESM drawdown of -75.16%. Use the drawdown chart below to compare losses from any high point for USAI and HESM.

Drawdown Indicators

	USAI	HESM	Difference
Max Drawdown Largest peak-to-trough decline	-65.25%	-75.16%	+9.91%
Max Drawdown (1Y) Largest decline over 1 year	-9.01%	-25.78%	+16.77%
Max Drawdown (3Y) Largest decline over 3 years	-18.22%	-25.78%	+7.56%
Max Drawdown (5Y) Largest decline over 5 years	-20.68%	-28.72%	+8.04%
Current Drawdown Current decline from peak	-5.46%	-7.00%	+1.54%
Average Drawdown Average peak-to-trough decline	-9.34%	-11.75%	+2.41%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.28%	12.73%	-8.45%

Volatility

USAI vs. HESM - Volatility Comparison

The current volatility for Pacer American Energy Independence ETF (USAI) is 5.63%, while Hess Midstream LP (HESM) has a volatility of 6.51%. This indicates that USAI experiences smaller price fluctuations and is considered to be less risky than HESM based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	USAI	HESM	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.63%	6.51%	-0.88%
Volatility (6M) Calculated over the trailing 6-month period	12.54%	15.19%	-2.65%
Volatility (1Y) Calculated over the trailing 1-year period	16.07%	24.33%	-8.26%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	20.49%	27.16%	-6.67%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	27.25%	38.76%	-11.51%

Dividends

USAI vs. HESM - Dividend Comparison

USAI's dividend yield for the trailing twelve months is around 4.53%, less than HESM's 8.01% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
HESM Hess Midstream LP	8.01%	8.41%	7.12%	7.50%	7.30%	6.93%	8.86%	6.89%	8.00%	2.93%
USAI Pacer American Energy Independence ETF	4.53%	5.03%	3.62%	4.99%	5.41%	6.15%	7.67%	6.50%	5.56%	0.08%

Frequently Asked Questions

Can I hold both USAI and HESM in my portfolio?

USAI and HESM have a correlation of 0.68, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, USAI or HESM?

HESM has higher volatility (6.51%) compared to USAI (5.63%). In terms of maximum drawdown, USAI dropped -65.25% vs HESM's -75.16%.

Which has better risk-adjusted returns?

USAI currently has the higher Sharpe Ratio (1.35 vs 0.37), 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.