USO vs. WTID
USO (United States Oil Fund LP) and WTID (MicroSectors Energy -3X Inverse Leveraged ETN) are both exchange-traded funds - USO is a Oil & Gas fund tracking the Front Month Light Sweet Crude Oil, while WTID is a Inverse Equities fund tracking the Solactive MicroSectors Energy Index - Benchmark TR Gross (--300%). Both are passively managed. Over the past 3 years, USO returned 27.76%/yr vs -47.33%/yr for WTID. At a correlation of -0.64, they often move in opposite directions. USO charges 0.86%/yr vs 0.95%/yr for WTID.
Performance
USO vs. WTID - Performance Comparison
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Returns By Period
In the year-to-date period, USO achieves a 92.34% return, which is significantly higher than WTID's -59.65% return.
USO
- 1D
- -2.72%
- 1M
- -0.69%
- YTD
- 92.34%
- 6M
- 84.96%
- 1Y
- 90.22%
- 3Y*
- 27.76%
- 5Y*
- 22.99%
- 10Y*
- 3.13%
WTID
- 1D
- 5.88%
- 1M
- -7.87%
- YTD
- -59.65%
- 6M
- -55.40%
- 1Y
- -73.06%
- 3Y*
- -47.33%
- 5Y*
- —
- 10Y*
- —
USO vs. WTID - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
USO United States Oil Fund LP | 92.34% | -8.46% | 13.35% | -3.43% |
WTID MicroSectors Energy -3X Inverse Leveraged ETN | -59.65% | -44.50% | -7.93% | -17.12% |
Correlation
The correlation between USO and WTID is -0.68, 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 | -0.68 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.63 |
Correlation (All Time) Calculated using the full available price history since Feb 16, 2023 | -0.64 |
The correlation between USO and WTID has been stable across timeframes, ranging from -0.68 to -0.63 - a consistent structural relationship.
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Return for Risk
USO vs. WTID — Risk / Return Rank
USO
WTID
USO vs. WTID - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for United States Oil Fund LP (USO) and MicroSectors Energy -3X Inverse Leveraged ETN (WTID). 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.
| USO | WTID | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +3.15 | ||
| Sortino ratioReturn per unit of downside risk | +4.91 | ||
| Omega ratioGain probability vs. loss probability | 1.35 | 0.77 | +0.58 |
| Calmar ratioReturn relative to maximum drawdown | 4.45 | -0.96 | +5.40 |
| Martin ratioReturn relative to average drawdown | 8.33 | -1.63 | +9.96 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| USO | WTID | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.04 | -1.10 | +3.15 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.64 | — | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.08 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | -0.18 | -0.59 | +0.41 |
Drawdowns
USO vs. WTID - Drawdown Comparison
The maximum USO drawdown since its inception was -98.19%, which is greater than WTID's maximum drawdown of -90.35%. Use the drawdown chart below to compare losses from any high point for USO and WTID.
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Drawdown Indicators
| USO | WTID | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -98.19% | -90.35% | -7.84% |
Max Drawdown (1Y)Largest decline over 1 year | -20.39% | -76.63% | +56.24% |
Max Drawdown (3Y)Largest decline over 3 years | -26.05% | -88.99% | +62.94% |
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 | -85.85% | -88.11% | +2.26% |
Average DrawdownAverage peak-to-trough decline | -75.30% | -54.52% | -20.78% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 10.87% | 47.55% | -36.68% |
Volatility
USO vs. WTID - Volatility Comparison
The current volatility for United States Oil Fund LP (USO) is 13.30%, while MicroSectors Energy -3X Inverse Leveraged ETN (WTID) has a volatility of 22.32%. This indicates that USO experiences smaller price fluctuations and is considered to be less risky than WTID based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| USO | WTID | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 13.30% | 22.32% | -9.02% |
Volatility (6M)Calculated over the trailing 6-month period | 38.49% | 53.75% | -15.26% |
Volatility (1Y)Calculated over the trailing 1-year period | 44.41% | 66.42% | -22.01% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 36.09% | 70.33% | -34.24% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 39.01% | 70.33% | -31.32% |
USO vs. WTID - Expense Ratio Comparison
USO has a 0.86% expense ratio, which is lower than WTID's 0.95% expense ratio.
Dividends
USO vs. WTID - Dividend Comparison
Neither USO nor WTID has paid dividends to shareholders.
Frequently Asked Questions
USO and WTID have a correlation of -0.68, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
WTID has higher volatility (22.32%) compared to USO (13.30%). In terms of maximum drawdown, USO dropped -98.19% vs WTID's -90.35%.
On 3-year performance, USO leads with 27.76% vs -47.33% for WTID. On fees, USO is cheaper at 0.86% per year. On volatility, USO has been the lower-risk option at 13.30%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, USO has performed better with a 27.76% return vs -47.33%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
USO is cheaper with a 0.86% expense ratio, compared with 0.95% for WTID.
USO and WTID have nearly identical dividend yields, around 0.00%.
USO is categorized as Oil & Gas, while WTID is Inverse Equities. USO tracks Front Month Light Sweet Crude Oil, while WTID tracks Solactive MicroSectors Energy Index - Benchmark TR Gross (--300%). They also come from different issuers: USCF and REX. Their fees differ too: 0.86% for USO and 0.95% for WTID.
USO currently has the higher Sharpe Ratio (2.04 vs -1.10), 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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