USO vs. BXSL
USO (United States Oil Fund LP) is Oil & Gas fund tracking the Front Month Light Sweet Crude Oil, while BXSL (Blackstone Secured Lending Fund) is a stock. Over the past 3 years, USO returned 26.38%/yr vs 7.49%/yr for BXSL. At a 0.05 correlation, their price movements are largely independent.
Performance
USO vs. BXSL - Performance Comparison
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Returns By Period
In the year-to-date period, USO achieves a 81.36% return, which is significantly higher than BXSL's -6.39% return.
USO
- 1D
- -2.64%
- 1M
- -12.29%
- YTD
- 81.36%
- 6M
- 82.28%
- 1Y
- 56.36%
- 3Y*
- 26.38%
- 5Y*
- 21.14%
- 10Y*
- 2.94%
BXSL
- 1D
- -0.21%
- 1M
- -1.08%
- YTD
- -6.39%
- 6M
- -9.95%
- 1Y
- -15.35%
- 3Y*
- 7.49%
- 5Y*
- —
- 10Y*
- —
USO vs. BXSL - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
USO United States Oil Fund LP | 81.36% | -8.46% | 13.35% | -4.94% | 28.97% | -4.46% |
BXSL Blackstone Secured Lending Fund | -6.39% | -9.36% | 29.02% | 37.82% | -26.03% | 32.04% |
Correlation
The correlation between USO and BXSL is -0.09, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.09 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.03 |
Correlation (All Time) Calculated using the full available price history since Oct 28, 2021 | 0.05 |
The correlation between USO and BXSL shifts across timeframes, from -0.09 (1 year) to 0.05 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
USO vs. BXSL — Risk / Return Rank
USO
BXSL
USO vs. BXSL - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for United States Oil Fund LP (USO) and Blackstone Secured Lending Fund (BXSL). 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.
| USO | BXSL | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +2.30 | ||
| Sortino ratioReturn per unit of downside risk | +3.24 | ||
| Omega ratioGain probability vs. loss probability | 1.28 | 0.88 | +0.39 |
| Calmar ratioReturn relative to maximum drawdown | 3.31 | -0.68 | +3.99 |
| Martin ratioReturn relative to average drawdown | 6.09 | -1.01 | +7.10 |
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Drawdowns
USO vs. BXSL - Drawdown Comparison
The maximum USO drawdown since its inception was -98.19%, which is greater than BXSL's maximum drawdown of -36.80%. Use the drawdown chart below to compare losses from any high point for USO and BXSL.
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Drawdown Indicators
| USO | BXSL | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -98.19% | -36.80% | -61.39% |
Max Drawdown (1Y)Largest decline over 1 year | -20.39% | -23.47% | +3.08% |
Max Drawdown (3Y)Largest decline over 3 years | -26.05% | -24.21% | -1.84% |
Max Drawdown (5Y)Largest decline over 5 years | -36.23% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -86.75% | — | — |
Current DrawdownCurrent decline from peak | -86.65% | -20.54% | -66.11% |
Average DrawdownAverage peak-to-trough decline | -75.30% | -14.15% | -61.15% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 11.06% | 15.73% | -4.67% |
Volatility
USO vs. BXSL - Volatility Comparison
United States Oil Fund LP (USO) has a higher volatility of 13.27% compared to Blackstone Secured Lending Fund (BXSL) at 5.42%. This indicates that USO's price experiences larger fluctuations and is considered to be riskier than BXSL based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| USO | BXSL | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 13.27% | 5.42% | +7.85% |
Volatility (6M)Calculated over the trailing 6-month period | 38.99% | 16.42% | +22.57% |
Volatility (1Y)Calculated over the trailing 1-year period | 44.64% | 20.20% | +24.44% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 36.20% | 23.85% | +12.35% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 39.03% | 23.85% | +15.18% |
Dividends
USO vs. BXSL - Dividend Comparison
USO has not paid dividends to shareholders, while BXSL's dividend yield for the trailing twelve months is around 12.91%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|---|
BXSL Blackstone Secured Lending Fund | 12.91% | 11.70% | 9.53% | 10.64% | 13.02% | 1.56% |
USO United States Oil Fund LP | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
USO and BXSL have a correlation of -0.09, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
USO has higher volatility (13.27%) compared to BXSL (5.42%). In terms of maximum drawdown, USO dropped -98.19% vs BXSL's -36.80%.
USO currently has the higher Sharpe Ratio (1.51 vs -0.79), 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.
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