USL vs. FTEC
USL (United States 12 Month Oil Fund LP) and FTEC (Fidelity MSCI Information Technology Index ETF) are both exchange-traded funds - USL is a Oil & Gas fund tracking the 12 Month Light Sweet Crude Oil, while FTEC is a Technology Equities fund tracking the MSCI USA IMI Information Technology 25/50 Index. Both are passively managed. Over the past 10 years, USL returned 9.07%/yr vs 25.18%/yr for FTEC. At a 0.17 correlation, their price movements are largely independent. USL charges 0.88%/yr vs 0.08%/yr for FTEC.
Performance
USL vs. FTEC - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, USL achieves a 35.42% return, which is significantly higher than FTEC's 22.66% return. Over the past 10 years, USL has underperformed FTEC with an annualized return of 9.07%, while FTEC has yielded a comparatively higher 25.18% annualized return.
USL
- 1D
- -3.22%
- 1M
- -16.18%
- YTD
- 35.42%
- 6M
- 33.45%
- 1Y
- 27.96%
- 3Y*
- 12.05%
- 5Y*
- 11.84%
- 10Y*
- 9.07%
FTEC
- 1D
- -0.73%
- 1M
- -0.38%
- YTD
- 22.66%
- 6M
- 20.59%
- 1Y
- 43.89%
- 3Y*
- 30.26%
- 5Y*
- 19.62%
- 10Y*
- 25.18%
USL vs. FTEC - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
USL United States 12 Month Oil Fund LP | 35.42% | -12.37% | 8.30% | -1.11% | 27.10% | 62.48% | -25.23% | 28.01% | -14.15% | 2.55% |
FTEC Fidelity MSCI Information Technology Index ETF | 22.66% | 22.11% | 29.40% | 53.30% | -29.59% | 30.49% | 45.83% | 48.93% | -0.39% | 36.83% |
Correlation
The correlation between USL and FTEC is -0.14, 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 | -0.14 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.00 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.07 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.14 |
Correlation (All Time) Calculated using the full available price history since Oct 24, 2013 | 0.17 |
The correlation between USL and FTEC shifts across timeframes, from -0.14 (1 year) to 0.17 (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
USL vs. FTEC — Risk / Return Rank
USL
FTEC
USL vs. FTEC - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for United States 12 Month Oil Fund LP (USL) and Fidelity MSCI Information Technology Index ETF (FTEC). 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.
| USL | FTEC | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.95 | ||
| Sortino ratioReturn per unit of downside risk | -1.00 | ||
| Omega ratioGain probability vs. loss probability | 1.18 | 1.33 | -0.15 |
| Calmar ratioReturn relative to maximum drawdown | 1.39 | 2.71 | -1.32 |
| Martin ratioReturn relative to average drawdown | 3.60 | 8.29 | -4.68 |
Loading charts...
Drawdowns
USL vs. FTEC - Drawdown Comparison
The maximum USL drawdown since its inception was -89.06%, which is greater than FTEC's maximum drawdown of -34.95%. Use the drawdown chart below to compare losses from any high point for USL and FTEC.
Loading charts...
Drawdown Indicators
| USL | FTEC | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -89.06% | -34.95% | -54.11% |
Max Drawdown (1Y)Largest decline over 1 year | -20.18% | -16.26% | -3.92% |
Max Drawdown (3Y)Largest decline over 3 years | -23.33% | -27.30% | +3.97% |
Max Drawdown (5Y)Largest decline over 5 years | -33.82% | -34.95% | +1.13% |
Max Drawdown (10Y)Largest decline over 10 years | -66.02% | -34.95% | -31.07% |
Current DrawdownCurrent decline from peak | -48.64% | -8.39% | -40.25% |
Average DrawdownAverage peak-to-trough decline | -61.39% | -5.57% | -55.82% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 7.78% | 5.31% | +2.47% |
Volatility
USL vs. FTEC - Volatility Comparison
The current volatility for United States 12 Month Oil Fund LP (USL) is 8.59%, while Fidelity MSCI Information Technology Index ETF (FTEC) has a volatility of 11.39%. This indicates that USL experiences smaller price fluctuations and is considered to be less risky than FTEC based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| USL | FTEC | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 8.59% | 11.39% | -2.80% |
Volatility (6M)Calculated over the trailing 6-month period | 24.45% | 18.57% | +5.88% |
Volatility (1Y)Calculated over the trailing 1-year period | 28.66% | 22.79% | +5.87% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 30.28% | 25.60% | +4.68% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 32.34% | 24.86% | +7.48% |
USL vs. FTEC - Expense Ratio Comparison
USL has a 0.88% expense ratio, which is higher than FTEC's 0.08% expense ratio.
Dividends
USL vs. FTEC - Dividend Comparison
USL has not paid dividends to shareholders, while FTEC's dividend yield for the trailing twelve months is around 0.36%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FTEC Fidelity MSCI Information Technology Index ETF | 0.36% | 0.43% | 0.49% | 0.77% | 0.93% | 0.63% | 0.83% | 1.03% | 1.20% | 0.96% | 1.25% | 1.27% |
USL United States 12 Month 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
USL and FTEC have a correlation of -0.14, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
FTEC has higher volatility (11.39%) compared to USL (8.59%). In terms of maximum drawdown, USL dropped -89.06% vs FTEC's -34.95%.
On 10-year performance, FTEC leads with 25.18% vs 9.07% for USL. On fees, FTEC is cheaper at 0.08% per year. On volatility, USL has been the lower-risk option at 8.59%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, FTEC has performed better with a 25.18% return vs 9.07%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
FTEC is cheaper with a 0.08% expense ratio, compared with 0.88% for USL.
FTEC has the higher dividend yield at 0.36%, compared with 0.00% for USL.
USL is categorized as Oil & Gas, while FTEC is Technology Equities. USL tracks 12 Month Light Sweet Crude Oil, while FTEC tracks MSCI USA IMI Information Technology 25/50 Index. They also come from different issuers: Concierge Technologies and Fidelity. Their fees differ too: 0.88% for USL and 0.08% for FTEC.
FTEC currently has the higher Sharpe Ratio (1.94 vs 0.99), 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 USL and FTEC
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