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USL vs. VOO
Performance
Risk-Adjusted Performance
Dividends
Drawdowns
Volatility

Correlation

The correlation between USL and VOO is 0.32, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.


-0.50.00.51.0
Correlation: 0.3

Performance

USL vs. VOO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in United States 12 Month Oil Fund LP (USL) and Vanguard S&P 500 ETF (VOO). The values are adjusted to include any dividend payments, if applicable.

0.00%100.00%200.00%300.00%400.00%500.00%600.00%NovemberDecember2025FebruaryMarchApril
-6.90%
557.08%
USL
VOO

Key characteristics

Sharpe Ratio

USL:

-0.60

VOO:

0.54

Sortino Ratio

USL:

-0.70

VOO:

0.88

Omega Ratio

USL:

0.91

VOO:

1.13

Calmar Ratio

USL:

-0.24

VOO:

0.55

Martin Ratio

USL:

-1.57

VOO:

2.27

Ulcer Index

USL:

9.56%

VOO:

4.55%

Daily Std Dev

USL:

24.98%

VOO:

19.19%

Max Drawdown

USL:

-89.06%

VOO:

-33.99%

Current Drawdown

USL:

-60.82%

VOO:

-9.90%

Returns By Period

In the year-to-date period, USL achieves a -9.47% return, which is significantly lower than VOO's -5.74% return. Over the past 10 years, USL has underperformed VOO with an annualized return of 2.31%, while VOO has yielded a comparatively higher 12.12% annualized return.


USL

YTD

-9.47%

1M

-8.53%

6M

-8.89%

1Y

-15.72%

5Y*

28.51%

10Y*

2.31%

VOO

YTD

-5.74%

1M

-2.90%

6M

-4.28%

1Y

9.78%

5Y*

15.72%

10Y*

12.12%

*Annualized

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USL vs. VOO - Expense Ratio Comparison

USL has a 0.88% expense ratio, which is higher than VOO's 0.03% expense ratio.


Expense ratio chart for USL: current value is 0.88%, compared with the broader market range of 0.00% to 2.12%.0.50%1.00%1.50%2.00%
USL: 0.88%
Expense ratio chart for VOO: current value is 0.03%, compared with the broader market range of 0.00% to 2.12%.0.50%1.00%1.50%2.00%
VOO: 0.03%

Risk-Adjusted Performance

USL vs. VOO — Risk-Adjusted Performance Rank

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

USL
The Risk-Adjusted Performance Rank of USL is 44
Overall Rank
The Sharpe Ratio Rank of USL is 33
Sharpe Ratio Rank
The Sortino Ratio Rank of USL is 33
Sortino Ratio Rank
The Omega Ratio Rank of USL is 44
Omega Ratio Rank
The Calmar Ratio Rank of USL is 99
Calmar Ratio Rank
The Martin Ratio Rank of USL is 11
Martin Ratio Rank

VOO
The Risk-Adjusted Performance Rank of VOO is 6464
Overall Rank
The Sharpe Ratio Rank of VOO is 6161
Sharpe Ratio Rank
The Sortino Ratio Rank of VOO is 6262
Sortino Ratio Rank
The Omega Ratio Rank of VOO is 6464
Omega Ratio Rank
The Calmar Ratio Rank of VOO is 6767
Calmar Ratio Rank
The Martin Ratio Rank of VOO is 6565
Martin Ratio Rank
The risk-adjusted ranks indicate the investment's position relative to the market. A rank closer to 100 signifies top-performing investments, while a rank closer to 0 might suggest underperformance, based on the selected ratio. The values are calculated based on the past 12 months of returns.

USL vs. VOO - Risk-Adjusted Performance Comparison

This table presents a comparison of risk-adjusted performance metrics for United States 12 Month Oil Fund LP (USL) and Vanguard S&P 500 ETF (VOO). 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.


The chart of Sharpe ratio for USL, currently valued at -0.60, compared to the broader market-1.000.001.002.003.004.00
USL: -0.60
VOO: 0.54
The chart of Sortino ratio for USL, currently valued at -0.70, compared to the broader market-2.000.002.004.006.008.00
USL: -0.70
VOO: 0.88
The chart of Omega ratio for USL, currently valued at 0.91, compared to the broader market0.501.001.502.002.50
USL: 0.91
VOO: 1.13
The chart of Calmar ratio for USL, currently valued at -0.40, compared to the broader market0.002.004.006.008.0010.0012.00
USL: -0.40
VOO: 0.55
The chart of Martin ratio for USL, currently valued at -1.57, compared to the broader market0.0020.0040.0060.00
USL: -1.57
VOO: 2.27

The current USL Sharpe Ratio is -0.60, which is lower than the VOO Sharpe Ratio of 0.54. The chart below compares the historical Sharpe Ratios of USL and VOO, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.


Rolling 12-month Sharpe Ratio-1.000.001.002.003.004.00NovemberDecember2025FebruaryMarchApril
-0.60
0.54
USL
VOO

Dividends

USL vs. VOO - Dividend Comparison

USL has not paid dividends to shareholders, while VOO's dividend yield for the trailing twelve months is around 1.38%.


TTM20242023202220212020201920182017201620152014
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%
VOO
Vanguard S&P 500 ETF
1.38%1.24%1.46%1.69%1.25%1.54%1.88%2.06%1.78%2.02%2.10%1.85%

Drawdowns

USL vs. VOO - Drawdown Comparison

The maximum USL drawdown since its inception was -89.06%, which is greater than VOO's maximum drawdown of -33.99%. Use the drawdown chart below to compare losses from any high point for USL and VOO. For additional features, visit the drawdowns tool.


-40.00%-30.00%-20.00%-10.00%0.00%NovemberDecember2025FebruaryMarchApril
-32.85%
-9.90%
USL
VOO

Volatility

USL vs. VOO - Volatility Comparison

The current volatility for United States 12 Month Oil Fund LP (USL) is 12.50%, while Vanguard S&P 500 ETF (VOO) has a volatility of 13.96%. This indicates that USL experiences smaller price fluctuations and is considered to be less risky than VOO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.


2.00%4.00%6.00%8.00%10.00%12.00%14.00%NovemberDecember2025FebruaryMarchApril
12.50%
13.96%
USL
VOO