USO vs. UDI

Last updated Aug 4, 2026

USO (United States Oil Fund LP) and UDI (USCF ESG Dividend Income Fund) are both exchange-traded funds - USO is a Oil & Gas fund tracking the Front Month Light Sweet Crude Oil, while UDI is a Large Cap Value Equities fund actively managed by USCF. USO is passively managed, while UDI is actively managed. Over the past 3 years, USO returned 18.29%/yr vs 17.36%/yr for UDI. Their 0.06 correlation means their historical movements had little consistent relationship. USO charges 0.86%/yr vs 0.65%/yr for UDI.

Performance

USO vs. UDI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in United States Oil Fund LP (USO) and USCF ESG Dividend Income Fund (UDI). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, USO achieves a 76.58% return, which is significantly higher than UDI's 16.33% return.

USO

• 1D: -5.46%
• 1M: 17.45%
• 6M: 62.11%
• YTD: 76.58%
• 1Y: 57.66%
• 3Y*: 18.29%
• 5Y*: 20.94%
• 10Y*: 4.47%
• ALL TIME*: -7.11%

UDI

• 1D: -0.38%
• 1M: 2.44%
• 6M: 11.52%
• YTD: 16.33%
• 1Y: 27.24%
• 3Y*: 17.36%
• 5Y*: —
• 10Y*: —
• ALL TIME*: 13.73%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
UDI USCF ESG Dividend Income Fund	$32.26K	$57.57K	$43.82K
USO United States Oil Fund LP	$981.29M	$906.75M	$905.81M

USO vs. UDI - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
USO United States Oil Fund LP	76.58%	-8.46%	13.35%	-4.94%	-22.13%
UDI USCF ESG Dividend Income Fund	16.33%	14.23%	17.07%	6.35%	3.14%

Correlation

The correlation between USO and UDI is -0.09, meaning there was essentially no consistent relationship between their historical price movements. Each responded to its own set of market drivers.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	-0.09
Correlation (3Y) Balances recent behavior with more history.	-0.04
Correlation (All Time) Calculated using the full available price history since Jun 8, 2022	0.06

The correlation between USO and UDI shifts across timeframes, from -0.09 (1 year) to 0.06 (all time), reflecting how their relationship changes across market environments.

Return for Risk

USO vs. UDI — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

USO

USO Risk / Return Rank: 49
USO Sharpe Ratio Rank: 49
USO Sortino Ratio Rank: 52
USO Omega Ratio Rank: 50
USO Calmar Ratio Rank: 49
USO Martin Ratio Rank: 46

UDI

UDI Risk / Return Rank: 93
UDI Sharpe Ratio Rank: 94
UDI Sortino Ratio Rank: 94
UDI Omega Ratio Rank: 92
UDI Calmar Ratio Rank: 93
UDI Martin Ratio Rank: 94

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

USO vs. UDI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for United States Oil Fund LP (USO) and USCF ESG Dividend Income Fund (UDI). 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	UDI	Difference
Sharpe ratio: Return per unit of total volatility	1.23	2.72	-1.49
Sortino ratio: Return per unit of downside risk	1.87	3.98	-2.11
Omega ratio: Gain probability vs. loss probability	1.23	1.48	-0.25
Calmar ratio: Return relative to maximum drawdown	1.78	4.84	-3.05
Martin ratio: Return relative to average drawdown	5.23	19.16	-13.93

USO vs. UDI - Sharpe Ratio Comparison

The current USO Sharpe Ratio is 1.23, which is lower than the UDI Sharpe Ratio of 2.72. The chart below compares the historical Sharpe Ratios of USO and UDI, 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

USO vs. UDI - Drawdown Comparison

The maximum USO drawdown since its inception was -98.19%, which is greater than UDI's maximum drawdown of -14.17%. Use the drawdown chart below to compare losses from any high point for USO and UDI.

Drawdown Indicators

	USO	UDI	Difference
Max Drawdown Largest peak-to-trough decline	-98.19%	-14.17%	-84.02%
Max Drawdown (1Y) Largest decline over 1 year	-32.49%	-5.66%	-26.83%
Max Drawdown (3Y) Largest decline over 3 years	-32.49%	-14.17%	-18.32%
Max Drawdown (5Y) Largest decline over 5 years	-36.23%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-86.75%	—	—
Current Drawdown Current decline from peak	-87.01%	-1.46%	-85.55%
Average Drawdown Average peak-to-trough decline	-75.38%	-3.00%	-72.38%
Ulcer Index Depth and duration of drawdowns from previous peaks	11.24%	1.43%	+9.81%

Volatility

USO vs. UDI - Volatility Comparison

United States Oil Fund LP (USO) has a higher volatility of 18.95% compared to USCF ESG Dividend Income Fund (UDI) at 2.85%. This indicates that USO's price experiences larger fluctuations and is considered to be riskier than UDI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	USO	UDI	Difference
Volatility (1M) Calculated over the trailing 1-month period	18.95%	2.85%	+16.10%
Volatility (6M) Calculated over the trailing 6-month period	43.21%	7.37%	+35.84%
Volatility (1Y) Calculated over the trailing 1-year period	47.21%	10.07%	+37.14%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	37.13%	13.93%	+23.20%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	39.32%	13.93%	+25.39%

USO vs. UDI - Expense Ratio Comparison

USO has a 0.86% expense ratio, which is higher than UDI's 0.65% expense ratio.

Dividends

USO vs. UDI - Dividend Comparison

USO has not paid dividends to shareholders, while UDI's dividend yield for the trailing twelve months is around 2.57%.

Position	TTM	2025	2024	2023	2022
UDI USCF ESG Dividend Income Fund	2.57%	2.42%	5.33%	2.61%	1.79%
USO United States Oil Fund LP	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both USO and UDI in my portfolio?

USO and UDI 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.

Which is riskier, USO or UDI?

USO has higher volatility (18.95%) compared to UDI (2.85%). In terms of maximum drawdown, USO dropped -98.19% vs UDI's -14.17%.

Which ETF is better, USO or UDI?

On 3-year performance, USO leads with 18.29% vs 17.36% for UDI. On fees, UDI is cheaper at 0.65% per year. On volatility, UDI has been the lower-risk option at 2.85%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, USO or UDI?

Over the 3-year period, USO has performed better with a 18.29% return vs 17.36%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, USO or UDI?

UDI is cheaper with a 0.65% expense ratio, compared with 0.86% for USO.

Which ETF pays a higher dividend yield, USO or UDI?

UDI has the higher dividend yield at 2.57%, compared with 0.00% for USO.

What is the main difference between USO and UDI?

USO is categorized as Oil & Gas, while UDI is Large Cap Value Equities. Their fees differ too: 0.86% for USO and 0.65% for UDI.

Which has better risk-adjusted returns?

UDI currently has the higher Sharpe Ratio (2.72 vs 1.23), 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.