WLDR vs. USL

Last updated Jun 4, 2026

WLDR (Affinity World Leaders Equity ETF) and USL (United States 12 Month Oil Fund LP) are both exchange-traded funds - WLDR is a Global Equities fund tracking the Thomson Reuters StarMine Affinity World Leaders 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, WLDR returned 18.09%/yr vs 17.41%/yr for USL. At a 0.21 correlation, their price movements are largely independent. WLDR charges 0.67%/yr vs 0.88%/yr for USL.

Performance

WLDR vs. USL - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Affinity World Leaders Equity ETF (WLDR) 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, WLDR achieves a 29.55% return, which is significantly lower than USL's 63.07% return.

WLDR

• 1D: -1.18%
• 1M: 11.85%
• YTD: 29.55%
• 6M: 34.62%
• 1Y: 57.12%
• 3Y*: 32.72%
• 5Y*: 18.09%
• 10Y*: —

USL

• 1D: 1.55%
• 1M: -1.61%
• YTD: 63.07%
• 6M: 59.66%
• 1Y: 57.86%
• 3Y*: 18.42%
• 5Y*: 17.41%
• 10Y*: 10.91%

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

WLDR vs. USL - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
WLDR Affinity World Leaders Equity ETF	29.55%	31.24%	22.74%	18.93%	-10.44%	26.77%	-1.93%	21.54%	-20.28%
USL United States 12 Month Oil Fund LP	63.07%	-12.37%	8.30%	-1.11%	27.10%	62.48%	-25.23%	28.01%	-18.63%

Correlation

The correlation between WLDR and USL is -0.25, 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	-0.25
Correlation (3Y) Calculated over the trailing 3-year period	0.01
Correlation (5Y) Calculated over the trailing 5-year period	0.16
Correlation (All Time) Calculated using the full available price history since Jan 18, 2018	0.21

The correlation between WLDR and USL shifts across timeframes, from -0.25 (1 year) to 0.21 (all time), reflecting how their relationship changes across market environments.

WLDR vs. USL - Sectors Allocation Comparison

Sectors	WLDR	USL
Technology	29.9%	-
Financial Services	13.4%	4.5%
Communication Services	10.9%	-
Consumer Defensive	9.1%	-
Healthcare	9.1%	-
Industrials	8.6%	-
Consumer Cyclical	6.2%	-
Energy	4.7%	-
Basic Materials	3.5%	-
Utilities	2.7%	-
Real Estate	1.9%	-

Return for Risk

WLDR vs. USL — Risk / Return Rank

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

WLDR

WLDR Risk / Return Rank: 94
WLDR Sharpe Ratio Rank: 95
WLDR Sortino Ratio Rank: 95
WLDR Omega Ratio Rank: 93
WLDR Calmar Ratio Rank: 92
WLDR Martin Ratio Rank: 94

USL

USL Risk / Return Rank: 56
USL Sharpe Ratio Rank: 59
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.

WLDR vs. USL - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Affinity World Leaders Equity ETF (WLDR) 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.

	WLDR	USL	Difference
Sharpe ratio: Return per unit of total volatility	3.83	2.04	+1.79
Sortino ratio: Return per unit of downside risk	5.08	2.58	+2.50
Omega ratio: Gain probability vs. loss probability	1.65	1.34	+0.31
Calmar ratio: Return relative to maximum drawdown	6.48	3.47	+3.01
Martin ratio: Return relative to average drawdown	26.24	7.02	+19.22
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

WLDR vs. USL - Sharpe Ratio Comparison

The current WLDR Sharpe Ratio is 3.83, which is higher than the USL Sharpe Ratio of 2.04. The chart below compares the historical Sharpe Ratios of WLDR 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

	WLDR	USL	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	3.83	2.04	+1.79
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	1.06	0.58	+0.47
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.34	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.60	0.01	+0.59

Drawdowns

WLDR vs. USL - Drawdown Comparison

The maximum WLDR drawdown since its inception was -44.69%, smaller than the maximum USL drawdown of -89.06%. Use the drawdown chart below to compare losses from any high point for WLDR and USL.

Drawdown Indicators

	WLDR	USL	Difference
Max Drawdown Largest peak-to-trough decline	-44.69%	-89.06%	+44.37%
Max Drawdown (1Y) Largest decline over 1 year	-8.86%	-16.76%	+7.90%
Max Drawdown (3Y) Largest decline over 3 years	-20.30%	-23.33%	+3.03%
Max Drawdown (5Y) Largest decline over 5 years	-23.77%	-33.82%	+10.05%
Max Drawdown (10Y) Largest decline over 10 years	—	-66.02%	—
Current Drawdown Current decline from peak	-1.46%	-38.16%	+36.70%
Average Drawdown Average peak-to-trough decline	-8.63%	-61.46%	+52.83%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.18%	8.27%	-6.09%

Volatility

WLDR vs. USL - Volatility Comparison

The current volatility for Affinity World Leaders Equity ETF (WLDR) is 5.63%, while United States 12 Month Oil Fund LP (USL) has a volatility of 10.53%. This indicates that WLDR experiences smaller price fluctuations and is considered to be less risky than USL based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	WLDR	USL	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.63%	10.53%	-4.90%
Volatility (6M) Calculated over the trailing 6-month period	12.11%	23.33%	-11.22%
Volatility (1Y) Calculated over the trailing 1-year period	15.00%	28.54%	-13.54%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.22%	30.08%	-12.86%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	20.94%	32.35%	-11.41%

WLDR vs. USL - Expense Ratio Comparison

WLDR has a 0.67% expense ratio, which is lower than USL's 0.88% expense ratio.

Dividends

WLDR vs. USL - Dividend Comparison

WLDR's dividend yield for the trailing twelve months is around 7.05%, while USL has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018
USL United States 12 Month Oil Fund LP	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
WLDR Affinity World Leaders Equity ETF	7.05%	9.01%	13.99%	2.28%	2.10%	7.55%	1.80%	2.48%	2.82%

Frequently Asked Questions

Can I hold both WLDR and USL in my portfolio?

WLDR and USL have a correlation of -0.25, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, WLDR or USL?

USL has higher volatility (10.53%) compared to WLDR (5.63%). In terms of maximum drawdown, WLDR dropped -44.69% vs USL's -89.06%.

Which ETF is better, WLDR or USL?

On 5-year performance, WLDR leads with 18.09% vs 17.41% for USL. On fees, WLDR is cheaper at 0.67% per year. On volatility, WLDR has been the lower-risk option at 5.63%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, WLDR or USL?

Over the 5-year period, WLDR has performed better with a 18.09% return vs 17.41%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, WLDR or USL?

WLDR is cheaper with a 0.67% expense ratio, compared with 0.88% for USL.

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

WLDR has the higher dividend yield at 7.05%, compared with 0.00% for USL.

What is the main difference between WLDR and USL?

WLDR is categorized as Global Equities, while USL is Oil & Gas. WLDR tracks Thomson Reuters StarMine Affinity World Leaders Index, while USL tracks 12 Month Light Sweet Crude Oil. They also come from different issuers: Regents Park Funds and Concierge Technologies. Their fees differ too: 0.67% for WLDR and 0.88% for USL.

Which has better risk-adjusted returns?

WLDR currently has the higher Sharpe Ratio (3.83 vs 2.04), 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.