WISE vs. USO
WISE (Themes Generative Artificial Intelligence ETF) and USO (United States Oil Fund LP) are both exchange-traded funds - WISE is a Technology Equities fund tracking the Solactive Generative Artificial Intelligence Index - Benchmark TR Gross, while USO is a Oil & Gas fund tracking the Front Month Light Sweet Crude Oil. Both are passively managed. Over the past year, WISE returned 36.46% vs 101.55% for USO. At a correlation of -0.03, they often move in opposite directions. WISE charges 0.35%/yr vs 0.86%/yr for USO.
Performance
WISE vs. USO - Performance Comparison
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Returns By Period
In the year-to-date period, WISE achieves a 11.03% return, which is significantly lower than USO's 103.67% return.
WISE
- 1D
- -3.13%
- 1M
- 11.81%
- YTD
- 11.03%
- 6M
- 7.21%
- 1Y
- 36.46%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
USO
- 1D
- 2.62%
- 1M
- -4.57%
- YTD
- 103.67%
- 6M
- 99.35%
- 1Y
- 101.55%
- 3Y*
- 29.98%
- 5Y*
- 24.41%
- 10Y*
- 4.07%
WISE vs. USO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
WISE Themes Generative Artificial Intelligence ETF | 11.03% | 5.88% | 40.45% | 7.55% |
USO United States Oil Fund LP | 103.67% | -8.46% | 13.35% | 0.18% |
Correlation
The correlation between WISE and USO is -0.23, 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 | -0.23 |
Correlation (All Time) Calculated using the full available price history since Dec 11, 2023 | -0.03 |
The correlation between WISE and USO shifts across timeframes, from -0.23 (1 year) to -0.03 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
WISE vs. USO — Risk / Return Rank
WISE
USO
WISE vs. USO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Themes Generative Artificial Intelligence ETF (WISE) and United States Oil Fund LP (USO). 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.
| WISE | USO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.17 | ||
| Sortino ratioReturn per unit of downside risk | -1.25 | ||
| Omega ratioGain probability vs. loss probability | 1.20 | 1.38 | -0.18 |
| Calmar ratioReturn relative to maximum drawdown | 1.07 | 5.01 | -3.93 |
| Martin ratioReturn relative to average drawdown | 2.58 | 9.42 | -6.84 |
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
| WISE | USO | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.14 | 2.31 | -1.17 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | 0.68 | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.10 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.78 | -0.18 | +0.96 |
Drawdowns
WISE vs. USO - Drawdown Comparison
The maximum WISE drawdown since its inception was -39.15%, smaller than the maximum USO drawdown of -98.19%. Use the drawdown chart below to compare losses from any high point for WISE and USO.
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Drawdown Indicators
| WISE | USO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -39.15% | -98.19% | +59.04% |
Max Drawdown (1Y)Largest decline over 1 year | -34.08% | -20.39% | -13.69% |
Max Drawdown (3Y)Largest decline over 3 years | — | -26.05% | — |
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 | -5.48% | -85.01% | +79.53% |
Average DrawdownAverage peak-to-trough decline | -11.90% | -75.30% | +63.40% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 14.15% | 10.82% | +3.33% |
Volatility
WISE vs. USO - Volatility Comparison
The current volatility for Themes Generative Artificial Intelligence ETF (WISE) is 10.83%, while United States Oil Fund LP (USO) has a volatility of 14.87%. This indicates that WISE experiences smaller price fluctuations and is considered to be less risky than USO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| WISE | USO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 10.83% | 14.87% | -4.04% |
Volatility (6M)Calculated over the trailing 6-month period | 24.11% | 38.23% | -14.12% |
Volatility (1Y)Calculated over the trailing 1-year period | 32.26% | 44.20% | -11.94% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 33.55% | 36.06% | -2.51% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 33.55% | 39.00% | -5.45% |
WISE vs. USO - Expense Ratio Comparison
WISE has a 0.35% expense ratio, which is lower than USO's 0.86% expense ratio.
Dividends
WISE vs. USO - Dividend Comparison
WISE's dividend yield for the trailing twelve months is around 3.71%, while USO has not paid dividends to shareholders.
| Position | TTM | 2025 |
|---|---|---|
USO United States Oil Fund LP | 0.00% | 0.00% |
WISE Themes Generative Artificial Intelligence ETF | 3.71% | 4.12% |
Frequently Asked Questions
WISE and USO have a correlation of -0.23, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
USO has higher volatility (14.87%) compared to WISE (10.83%). In terms of maximum drawdown, WISE dropped -39.15% vs USO's -98.19%.
On 1-year performance, USO leads with 101.55% vs 36.46% for WISE. On fees, WISE is cheaper at 0.35% per year. On volatility, WISE has been the lower-risk option at 10.83%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, USO has performed better with a 101.55% return vs 36.46%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
WISE is cheaper with a 0.35% expense ratio, compared with 0.86% for USO.
WISE has the higher dividend yield at 3.71%, compared with 0.00% for USO.
WISE is categorized as Technology Equities, while USO is Oil & Gas. WISE tracks Solactive Generative Artificial Intelligence Index - Benchmark TR Gross, while USO tracks Front Month Light Sweet Crude Oil. They also come from different issuers: Themes and USCF. Their fees differ too: 0.35% for WISE and 0.86% for USO.
USO currently has the higher Sharpe Ratio (2.31 vs 1.14), 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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