XYLG vs. USO
XYLG (Global X S&P 500 Covered Call & Growth ETF) and USO (United States Oil Fund LP) are both exchange-traded funds - XYLG is a Derivative Income fund tracking the Cboe S&P 500 Half BuyWrite Index, while USO is a Oil & Gas fund tracking the Front Month Light Sweet Crude Oil. Both are passively managed. Over the past 5 years, XYLG returned 10.70%/yr vs 23.67%/yr for USO. At a 0.08 correlation, their price movements are largely independent. XYLG charges 0.35%/yr vs 0.86%/yr for USO.
Performance
XYLG vs. USO - Performance Comparison
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Returns By Period
In the year-to-date period, XYLG achieves a 8.24% return, which is significantly lower than USO's 97.72% return.
XYLG
- 1D
- 0.29%
- 1M
- 3.54%
- YTD
- 8.24%
- 6M
- 8.81%
- 1Y
- 23.44%
- 3Y*
- 16.88%
- 5Y*
- 10.70%
- 10Y*
- —
USO
- 1D
- -2.92%
- 1M
- -5.15%
- YTD
- 97.72%
- 6M
- 91.54%
- 1Y
- 97.20%
- 3Y*
- 28.78%
- 5Y*
- 23.67%
- 10Y*
- 3.57%
XYLG vs. USO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
XYLG Global X S&P 500 Covered Call & Growth ETF | 8.24% | 12.93% | 22.31% | 18.16% | -15.46% | 23.81% | 12.13% |
USO United States Oil Fund LP | 97.72% | -8.46% | 13.35% | -4.94% | 28.97% | 64.68% | 16.68% |
Correlation
The correlation between XYLG and USO is -0.31, 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 | -0.31 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.09 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.06 |
Correlation (All Time) Calculated using the full available price history since Sep 22, 2020 | 0.08 |
The correlation between XYLG and USO shifts across timeframes, from -0.31 (1 year) to 0.08 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
XYLG vs. USO — Risk / Return Rank
XYLG
USO
XYLG vs. USO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Global X S&P 500 Covered Call & Growth ETF (XYLG) 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.
| XYLG | USO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.27 | ||
| Sortino ratioReturn per unit of downside risk | +0.70 | ||
| Omega ratioGain probability vs. loss probability | 1.47 | 1.37 | +0.10 |
| Calmar ratioReturn relative to maximum drawdown | 3.40 | 4.79 | -1.39 |
| Martin ratioReturn relative to average drawdown | 17.18 | 9.00 | +8.18 |
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
| XYLG | USO | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.48 | 2.21 | +0.27 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.77 | 0.66 | +0.11 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.09 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.99 | -0.18 | +1.17 |
Drawdowns
XYLG vs. USO - Drawdown Comparison
The maximum XYLG drawdown since its inception was -21.30%, smaller than the maximum USO drawdown of -98.19%. Use the drawdown chart below to compare losses from any high point for XYLG and USO.
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Drawdown Indicators
| XYLG | USO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -21.30% | -98.19% | +76.89% |
Max Drawdown (1Y)Largest decline over 1 year | -6.93% | -20.39% | +13.46% |
Max Drawdown (3Y)Largest decline over 3 years | -17.42% | -26.05% | +8.63% |
Max Drawdown (5Y)Largest decline over 5 years | -21.30% | -36.23% | +14.93% |
Max Drawdown (10Y)Largest decline over 10 years | — | -86.75% | — |
Current DrawdownCurrent decline from peak | -0.07% | -85.45% | +85.38% |
Average DrawdownAverage peak-to-trough decline | -4.10% | -75.30% | +71.20% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.37% | 10.84% | -9.47% |
Volatility
XYLG vs. USO - Volatility Comparison
The current volatility for Global X S&P 500 Covered Call & Growth ETF (XYLG) is 2.52%, while United States Oil Fund LP (USO) has a volatility of 14.97%. This indicates that XYLG 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
| XYLG | USO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.52% | 14.97% | -12.45% |
Volatility (6M)Calculated over the trailing 6-month period | 7.59% | 38.35% | -30.76% |
Volatility (1Y)Calculated over the trailing 1-year period | 9.49% | 44.32% | -34.83% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 14.00% | 36.09% | -22.09% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 13.86% | 39.00% | -25.14% |
XYLG vs. USO - Expense Ratio Comparison
XYLG has a 0.35% expense ratio, which is lower than USO's 0.86% expense ratio.
Dividends
XYLG vs. USO - Dividend Comparison
XYLG's dividend yield for the trailing twelve months is around 13.02%, while USO has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|---|---|
USO United States Oil Fund LP | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
XYLG Global X S&P 500 Covered Call & Growth ETF | 13.02% | 13.94% | 23.65% | 4.90% | 6.43% | 7.40% | 1.39% |
Frequently Asked Questions
XYLG and USO have a correlation of -0.31, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
USO has higher volatility (14.97%) compared to XYLG (2.52%). In terms of maximum drawdown, XYLG dropped -21.30% vs USO's -98.19%.
On 5-year performance, USO leads with 23.67% vs 10.70% for XYLG. On fees, XYLG is cheaper at 0.35% per year. On volatility, XYLG has been the lower-risk option at 2.52%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, USO has performed better with a 23.67% return vs 10.70%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
XYLG is cheaper with a 0.35% expense ratio, compared with 0.86% for USO.
XYLG has the higher dividend yield at 13.02%, compared with 0.00% for USO.
XYLG is categorized as Derivative Income, while USO is Oil & Gas. XYLG tracks Cboe S&P 500 Half BuyWrite Index, while USO tracks Front Month Light Sweet Crude Oil. They also come from different issuers: Global X and USCF. Their fees differ too: 0.35% for XYLG and 0.86% for USO.
XYLG currently has the higher Sharpe Ratio (2.48 vs 2.21), 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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