PortfoliosLab logo
USO vs. SPY
Performance
Risk-Adjusted Performance
Dividends
Drawdowns
Volatility

Correlation

The correlation between USO and SPY is 0.30, 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

USO vs. SPY - Performance Comparison

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

-100.00%0.00%100.00%200.00%300.00%400.00%500.00%600.00%NovemberDecember2025FebruaryMarchApril
-87.55%
507.32%
USO
SPY

Key characteristics

Sharpe Ratio

USO:

-0.50

SPY:

0.52

Sortino Ratio

USO:

-0.54

SPY:

0.87

Omega Ratio

USO:

0.94

SPY:

1.13

Calmar Ratio

USO:

-0.16

SPY:

0.55

Martin Ratio

USO:

-1.44

SPY:

2.26

Ulcer Index

USO:

10.37%

SPY:

4.59%

Daily Std Dev

USO:

29.96%

SPY:

20.10%

Max Drawdown

USO:

-98.19%

SPY:

-55.19%

Current Drawdown

USO:

-92.79%

SPY:

-9.86%

Returns By Period

In the year-to-date period, USO achieves a -10.31% return, which is significantly lower than SPY's -5.73% return. Over the past 10 years, USO has underperformed SPY with an annualized return of -8.44%, while SPY has yielded a comparatively higher 12.04% annualized return.


USO

YTD

-10.31%

1M

-9.38%

6M

-3.79%

1Y

-15.71%

5Y*

30.50%

10Y*

-8.44%

SPY

YTD

-5.73%

1M

-0.87%

6M

-4.56%

1Y

9.76%

5Y*

15.17%

10Y*

12.04%

*Annualized

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.


USO vs. SPY - Expense Ratio Comparison

USO has a 0.79% expense ratio, which is higher than SPY's 0.09% expense ratio.


Expense ratio chart for USO: current value is 0.79%, compared with the broader market range of 0.00% to 2.12%.0.50%1.00%1.50%2.00%
USO: 0.79%
Expense ratio chart for SPY: current value is 0.09%, compared with the broader market range of 0.00% to 2.12%.0.50%1.00%1.50%2.00%
SPY: 0.09%

Risk-Adjusted Performance

USO vs. SPY — Risk-Adjusted Performance Rank

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

USO
The Risk-Adjusted Performance Rank of USO is 66
Overall Rank
The Sharpe Ratio Rank of USO is 55
Sharpe Ratio Rank
The Sortino Ratio Rank of USO is 55
Sortino Ratio Rank
The Omega Ratio Rank of USO is 66
Omega Ratio Rank
The Calmar Ratio Rank of USO is 1111
Calmar Ratio Rank
The Martin Ratio Rank of USO is 22
Martin Ratio Rank

SPY
The Risk-Adjusted Performance Rank of SPY is 6363
Overall Rank
The Sharpe Ratio Rank of SPY is 6060
Sharpe Ratio Rank
The Sortino Ratio Rank of SPY is 6161
Sortino Ratio Rank
The Omega Ratio Rank of SPY is 6464
Omega Ratio Rank
The Calmar Ratio Rank of SPY is 6767
Calmar Ratio Rank
The Martin Ratio Rank of SPY is 6464
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.

USO vs. SPY - Risk-Adjusted Performance Comparison

This table presents a comparison of risk-adjusted performance metrics for United States Oil Fund LP (USO) and SPDR S&P 500 ETF (SPY). 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 USO, currently valued at -0.50, compared to the broader market-1.000.001.002.003.004.00
USO: -0.50
SPY: 0.52
The chart of Sortino ratio for USO, currently valued at -0.54, compared to the broader market-2.000.002.004.006.008.00
USO: -0.54
SPY: 0.87
The chart of Omega ratio for USO, currently valued at 0.94, compared to the broader market0.501.001.502.00
USO: 0.94
SPY: 1.13
The chart of Calmar ratio for USO, currently valued at -0.16, compared to the broader market0.002.004.006.008.0010.0012.00
USO: -0.16
SPY: 0.55
The chart of Martin ratio for USO, currently valued at -1.44, compared to the broader market0.0020.0040.0060.00
USO: -1.44
SPY: 2.26

The current USO Sharpe Ratio is -0.50, which is lower than the SPY Sharpe Ratio of 0.52. The chart below compares the historical Sharpe Ratios of USO and SPY, 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
-0.50
0.52
USO
SPY

Dividends

USO vs. SPY - Dividend Comparison

USO has not paid dividends to shareholders, while SPY's dividend yield for the trailing twelve months is around 1.30%.


TTM20242023202220212020201920182017201620152014
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%
SPY
SPDR S&P 500 ETF
1.30%1.21%1.40%1.65%1.20%1.52%1.75%2.04%1.80%2.03%2.06%1.87%

Drawdowns

USO vs. SPY - Drawdown Comparison

The maximum USO drawdown since its inception was -98.19%, which is greater than SPY's maximum drawdown of -55.19%. Use the drawdown chart below to compare losses from any high point for USO and SPY. For additional features, visit the drawdowns tool.


-100.00%-80.00%-60.00%-40.00%-20.00%0.00%NovemberDecember2025FebruaryMarchApril
-92.79%
-9.86%
USO
SPY

Volatility

USO vs. SPY - Volatility Comparison

United States Oil Fund LP (USO) and SPDR S&P 500 ETF (SPY) have volatilities of 14.56% and 15.12%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.


0.00%5.00%10.00%15.00%NovemberDecember2025FebruaryMarchApril
14.56%
15.12%
USO
SPY