WTI vs. USO
WTI (W&T Offshore, Inc.) is a stock, while USO (United States Oil Fund LP) is Oil & Gas fund tracking the Front Month Light Sweet Crude Oil. Over the past 10 years, WTI returned 6.26%/yr vs 3.91%/yr for USO. Their 0.56 correlation means they have sometimes moved together and sometimes differently.
Performance
WTI vs. USO - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, WTI achieves a 110.99% return, which is significantly higher than USO's 67.41% return. Over the past 10 years, WTI has outperformed USO with an annualized return of 6.26%, while USO has yielded a comparatively lower 3.91% annualized return.
WTI
- 1D
- -2.56%
- 1M
- 10.68%
- 6M
- 57.76%
- YTD
- 110.99%
- 1Y
- 101.00%
- 3Y*
- -4.57%
- 5Y*
- 2.63%
- 10Y*
- 6.26%
- ALL TIME*
- -6.26%
USO
- 1D
- -5.19%
- 1M
- 11.35%
- 6M
- 49.45%
- YTD
- 67.41%
- 1Y
- 52.12%
- 3Y*
- 16.20%
- 5Y*
- 19.21%
- 10Y*
- 3.91%
- ALL TIME*
- -7.35%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $990.59M | $905.37M | $892.65M | |
| $15.27M | $15.00M | $19.14M |
WTI vs. USO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
WTI W&T Offshore, Inc. | 110.99% | 0.62% | -48.17% | -41.41% | 72.76% | 48.85% | -60.97% | 34.95% | 24.47% | 19.49% |
USO United States Oil Fund LP | 67.41% | -8.46% | 13.35% | -4.94% | 28.97% | 64.68% | -67.79% | 32.61% | -19.57% | 2.47% |
Correlation
The correlation between WTI and USO is 0.64, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.64 |
Correlation (3Y) Balances recent behavior with more history. | 0.57 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.61 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.56 |
Correlation (All Time) Calculated using the full available price history since Apr 10, 2006 | 0.56 |
The correlation between WTI and USO has been stable across timeframes, ranging from 0.56 to 0.64 - a consistent structural relationship.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
WTI vs. USO — Risk / Return Rank
WTI
USO
WTI vs. USO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for W&T Offshore, Inc. (WTI) 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.
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.
| WTI | USO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.08 | ||
| Sortino ratioReturn per unit of downside risk | +0.29 | ||
| Omega ratioGain probability vs. loss probability | 1.24 | 1.21 | +0.03 |
| Calmar ratioReturn relative to maximum drawdown | 2.53 | 1.61 | +0.92 |
| Martin ratioReturn relative to average drawdown | 5.03 | 4.70 | +0.33 |
Loading charts...
Drawdowns
WTI vs. USO - Drawdown Comparison
The maximum WTI drawdown since its inception was -97.59%, roughly equal to the maximum USO drawdown of -98.19%. Use the drawdown chart below to compare losses from any high point for WTI and USO.
Loading charts...
Drawdown Indicators
| WTI | USO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -97.59% | -98.19% | +0.60% |
Max Drawdown (1Y)Largest decline over 1 year | -40.17% | -32.49% | -7.68% |
Max Drawdown (3Y)Largest decline over 3 years | -74.31% | -32.49% | -41.82% |
Max Drawdown (5Y)Largest decline over 5 years | -87.31% | -36.23% | -51.08% |
Max Drawdown (10Y)Largest decline over 10 years | -88.92% | -86.75% | -2.17% |
Current DrawdownCurrent decline from peak | -92.03% | -87.68% | -4.35% |
Average DrawdownAverage peak-to-trough decline | -74.21% | -75.38% | +1.17% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 20.17% | 11.15% | +9.02% |
Volatility
WTI vs. USO - Volatility Comparison
W&T Offshore, Inc. (WTI) has a higher volatility of 23.57% compared to United States Oil Fund LP (USO) at 19.90%. This indicates that WTI's price experiences larger fluctuations and is considered to be riskier than USO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| WTI | USO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 23.57% | 19.90% | +3.67% |
Volatility (6M)Calculated over the trailing 6-month period | 71.99% | 43.20% | +28.79% |
Volatility (1Y)Calculated over the trailing 1-year period | 85.98% | 47.43% | +38.55% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 69.25% | 37.17% | +32.08% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 73.67% | 39.35% | +34.32% |
Dividends
WTI vs. USO - Dividend Comparison
WTI's dividend yield for the trailing twelve months is around 1.17%, while USO has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 |
|---|---|---|---|---|
USO United States Oil Fund LP | 0.00% | 0.00% | 0.00% | 0.00% |
WTI W&T Offshore, Inc. | 1.17% | 2.45% | 2.41% | 0.31% |
Frequently Asked Questions
WTI and USO have a correlation of 0.64, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
WTI has higher volatility (23.57%) compared to USO (19.90%). In terms of maximum drawdown, WTI dropped -97.59% vs USO's -98.19%.
WTI currently has the higher Sharpe Ratio (1.18 vs 1.11), 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.
Find the right allocation for WTI and USO
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer