WCLD vs. USL

Last updated Jun 5, 2026

WCLD (WisdomTree Cloud Computing Fund) and USL (United States 12 Month Oil Fund LP) are both exchange-traded funds - WCLD is a Technology Equities fund tracking the BVP Nasdaq Emerging Cloud Index, while USL is a Oil & Gas fund tracking the 12 Month Light Sweet Crude Oil. Both are passively managed. Over the past 5 years, WCLD returned -7.63%/yr vs 17.05%/yr for USL. At a 0.10 correlation, their price movements are largely independent. WCLD charges 0.45%/yr vs 0.88%/yr for USL.

Performance

WCLD vs. USL - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in WisdomTree Cloud Computing Fund (WCLD) and United States 12 Month Oil Fund LP (USL). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, WCLD achieves a -5.34% return, which is significantly lower than USL's 60.58% return.

WCLD

• 1D: 0.18%
• 1M: 11.25%
• YTD: -5.34%
• 6M: -5.29%
• 1Y: -9.18%
• 3Y*: 2.28%
• 5Y*: -7.63%
• 10Y*: —

USL

• 1D: -1.53%
• 1M: -1.98%
• YTD: 60.58%
• 6M: 56.11%
• 1Y: 56.55%
• 3Y*: 17.93%
• 5Y*: 17.05%
• 10Y*: 10.57%

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

WCLD vs. USL - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
WCLD WisdomTree Cloud Computing Fund	-5.34%	-6.69%	7.35%	39.35%	-51.64%	-3.21%	109.71%	0.91%
USL United States 12 Month Oil Fund LP	60.58%	-12.37%	8.30%	-1.11%	27.10%	62.48%	-25.23%	9.53%

Correlation

The correlation between WCLD and USL 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 (5Y) Calculated over the trailing 5-year period	0.08
Correlation (All Time) Calculated using the full available price history since Sep 9, 2019	0.10

The correlation between WCLD and USL shifts across timeframes, from -0.09 (1 year) to 0.10 (all time), reflecting how their relationship changes across market environments.

WCLD vs. USL - Sectors Allocation Comparison

Sectors	WCLD	USL
Technology	97.2%	-
Healthcare	2.8%	-
Communication Services	2.5%	-
Basic Materials	-	-
Consumer Cyclical	-	-
Consumer Defensive	-	-
Energy	-	-
Financial Services	-	4.5%
Industrials	-	-
Real Estate	-	-
Utilities	-	-

Return for Risk

WCLD vs. USL — Risk / Return Rank

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

WCLD

WCLD Risk / Return Rank: 7
WCLD Sharpe Ratio Rank: 6
WCLD Sortino Ratio Rank: 7
WCLD Omega Ratio Rank: 7
WCLD Calmar Ratio Rank: 7
WCLD Martin Ratio Rank: 6

USL

USL Risk / Return Rank: 56
USL Sharpe Ratio Rank: 60
USL Sortino Ratio Rank: 53
USL Omega Ratio Rank: 54
USL Calmar Ratio Rank: 69
USL Martin Ratio Rank: 43

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

WCLD vs. USL - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for WisdomTree Cloud Computing Fund (WCLD) and United States 12 Month Oil Fund LP (USL). 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.

	WCLD	USL	Difference
Sharpe ratio: Return per unit of total volatility	-0.26	1.99	-2.25
Sortino ratio: Return per unit of downside risk	-0.14	2.53	-2.67
Omega ratio: Gain probability vs. loss probability	0.98	1.33	-0.35
Calmar ratio: Return relative to maximum drawdown	-0.27	3.39	-3.66
Martin ratio: Return relative to average drawdown	-0.62	6.85	-7.48
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

WCLD vs. USL - Sharpe Ratio Comparison

The current WCLD Sharpe Ratio is -0.26, which is lower than the USL Sharpe Ratio of 1.99. The chart below compares the historical Sharpe Ratios of WCLD and USL, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	WCLD	USL	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.26	1.99	-2.25
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.20	0.57	-0.77
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.33	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.11	0.01	+0.10

Drawdowns

WCLD vs. USL - Drawdown Comparison

The maximum WCLD drawdown since its inception was -64.90%, smaller than the maximum USL drawdown of -89.06%. Use the drawdown chart below to compare losses from any high point for WCLD and USL.

Drawdown Indicators

	WCLD	USL	Difference
Max Drawdown Largest peak-to-trough decline	-64.90%	-89.06%	+24.16%
Max Drawdown (1Y) Largest decline over 1 year	-34.68%	-16.76%	-17.92%
Max Drawdown (3Y) Largest decline over 3 years	-42.06%	-23.33%	-18.73%
Max Drawdown (5Y) Largest decline over 5 years	-64.90%	-33.82%	-31.08%
Max Drawdown (10Y) Largest decline over 10 years	—	-66.02%	—
Current Drawdown Current decline from peak	-49.27%	-39.10%	-10.17%
Average Drawdown Average peak-to-trough decline	-35.56%	-61.45%	+25.89%
Ulcer Index Depth and duration of drawdowns from previous peaks	14.73%	8.27%	+6.46%

Volatility

WCLD vs. USL - Volatility Comparison

WisdomTree Cloud Computing Fund (WCLD) has a higher volatility of 16.20% compared to United States 12 Month Oil Fund LP (USL) at 10.57%. This indicates that WCLD's price experiences larger fluctuations and is considered to be riskier than USL based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	WCLD	USL	Difference
Volatility (1M) Calculated over the trailing 1-month period	16.20%	10.57%	+5.63%
Volatility (6M) Calculated over the trailing 6-month period	30.28%	23.34%	+6.94%
Volatility (1Y) Calculated over the trailing 1-year period	34.98%	28.59%	+6.39%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	37.45%	30.09%	+7.36%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	37.48%	32.34%	+5.14%

WCLD vs. USL - Expense Ratio Comparison

WCLD has a 0.45% expense ratio, which is lower than USL's 0.88% expense ratio.

Dividends

WCLD vs. USL - Dividend Comparison

Neither WCLD nor USL has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both WCLD and USL in my portfolio?

WCLD and USL 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, WCLD or USL?

WCLD has higher volatility (16.20%) compared to USL (10.57%). In terms of maximum drawdown, WCLD dropped -64.90% vs USL's -89.06%.

Which ETF is better, WCLD or USL?

On 5-year performance, USL leads with 17.05% vs -7.63% for WCLD. On fees, WCLD is cheaper at 0.45% per year. On volatility, USL has been the lower-risk option at 10.57%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, WCLD or USL?

Over the 5-year period, USL has performed better with a 17.05% return vs -7.63%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, WCLD or USL?

WCLD is cheaper with a 0.45% expense ratio, compared with 0.88% for USL.

Which ETF pays a higher dividend yield, WCLD or USL?

WCLD and USL have nearly identical dividend yields, around 0.00%.

What is the main difference between WCLD and USL?

WCLD is categorized as Technology Equities, while USL is Oil & Gas. WCLD tracks BVP Nasdaq Emerging Cloud Index, while USL tracks 12 Month Light Sweet Crude Oil. They also come from different issuers: WisdomTree and Concierge Technologies. Their fees differ too: 0.45% for WCLD and 0.88% for USL.

Which has better risk-adjusted returns?

USL currently has the higher Sharpe Ratio (1.99 vs -0.26), 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.