United States Oil Fund LP

10-Year Study

USO.US · · US · ETF

Executive Summary: United States Oil Fund LP has compounded at 2.9% annually over the last 10 years, with a maximum drawdown of 84.6% and an annualized volatility of 27.0%.

1Y CAGR
+98.3%
3Y CAGR
+28.4%
5Y CAGR
+23.0%
10Y CAGR
+2.9%

History & Riski10-year historical performance analysis including CAGR, Max Drawdown, Sharpe & Sortino ratios, annual returns, and rolling volatility — all computed from daily market data.

10-Year Growth of $10,000

Max DrawdownMax DrawdownThe largest peak-to-trough decline in the asset's value over the measurement period.Click for full definition →
84.6%
Sharpe RatioSharpe RatioRisk-adjusted return: how much excess return you earn per unit of total risk (volatility).Click for full definition →
0.26
Sortino RatioSortino RatioLike Sharpe, but only penalizes downside volatility — a more accurate risk measure for asymmetric return distributions.Click for full definition →
0.32
Ann. VolatilityAnnualized VolatilityThe annualized standard deviation of an asset's returns — a measure of how much prices fluctuate.Click for full definition →
41.1%
Best YearBest & Worst YearThe single calendar year with the highest and lowest return in the measured period.Click for full definition →
2026 · +82.0%
Worst YearBest & Worst YearThe single calendar year with the highest and lowest return in the measured period.Click for full definition →
2020 · -67.8%
% Positive Years% Positive YearsThe percentage of calendar years in the measurement period where the asset delivered a positive return.Click for full definition →
60%

Annual Returns

Rolling 12-Month Returns

Rolling 12-Month Annualised Volatility

Historical Drawdowns

Monthly Returns

Monthly Returns Heatmap

YearJanFebMarAprMayJunJulAugSepOctNovDecAnn.
202615.03.155.3-1.1————————82.0%
20253.3-3.62.8-17.85.68.98.9-6.0-1.5-1.6-2.1-2.7-8.5%
20246.43.47.3-0.4-4.56.4-2.3-4.4-5.94.5-2.05.513.4%
2023-1.1-3.0-1.11.6-10.24.815.12.67.7-7.2-6.5-5.0-4.9%
202214.98.09.84.110.8-6.0-2.9-6.3-10.79.6-1.8-0.229.0%
20216.617.4-1.96.85.09.81.6-5.29.48.7-16.213.564.7%
2020-15.4-12.8-55.4-43.235.48.43.65.2-7.5-10.722.76.6-67.8%
201917.55.34.66.3-16.58.50.0-4.8-1.0-0.42.810.232.6%
20188.1-4.75.85.4-1.811.1-5.23.05.5-11.1-22.2-10.0-19.6%
2017-3.41.1-7.1-3.8-2.7-4.68.2-6.38.34.84.94.72.5%
2016———16.55.0-2.5-15.66.15.5-3.73.87.220.8%

Risk X-RayiA 19-factor macroeconomic risk decomposition showing exactly which market forces (equity beta, rates, inflation, credit, commodity, crypto) drive this asset's volatility. Powered by multivariate regression against daily factor returns.

Risk Profile Insight: This asset has an estimated annualized volatility of 27.0%. The dominant macroeconomic risk driver is USO.US, accounting for 100.0% of variance. Idiosyncratic stock-specific factors contribute 0.0%.

10-Year Historical Price Series (Growth of $10,000)
DateSimulated Value
2016-03-0110000
2016-04-0111649.484536082475
2016-05-0112237.113402061857
2016-06-0111927.835051546394
2016-07-0110061.855670103092
2016-08-0110680.41237113402
2016-09-0111268.041237113403
2016-10-0110855.670103092783
2016-11-0111268.041237113403
2016-12-0112082.474226804125
2017-01-0111670.103092783505
2017-02-0111804.123711340206
2017-03-0110969.072164948455
2017-04-0110556.701030927836
2017-05-0110268.041237113403
2017-06-019793.814432989691
2017-07-0110597.938144329897
2017-08-019927.835051546394
2017-09-0110752.577319587628
2017-10-0111268.041237113403
2017-11-0111824.74226804124
2017-12-0112381.443298969072
2018-01-0113381.443298969074
2018-02-0112752.577319587628
2018-03-0113494.845360824744
2018-04-0114226.804123711343
2018-05-0113969.072164948455
2018-06-0115525.77319587629
2018-07-0114721.649484536083
2018-08-0115164.94845360825
2018-09-0116000
2018-10-0114216.494845360825
2018-11-0111061.855670103094
2018-12-019958.762886597939
2019-01-0111701.030927835052
2019-02-0112319.58762886598
2019-03-0112886.59793814433
2019-04-0113701.030927835052
2019-05-0111443.298969072166
2019-06-0112412.37113402062
2019-07-0112412.37113402062
2019-08-0111814.432989690724
2019-09-0111690.721649484536
2019-10-0111649.484536082475
2019-11-0111979.38144329897
2019-12-0113206.18556701031
2020-01-0111175.257731958764
2020-02-019742.268041237114
2020-03-014340.206185567011
2020-04-012463.9175257731963
2020-05-013335.051546391753
2020-06-013615.9793814432987
2020-07-013746.1340206185573
2020-08-013940.721649484536
2020-09-013645.618556701031
2020-10-013253.8659793814436
2020-11-013990.979381443299
2020-12-014253.865979381443
2021-01-014533.505154639176
2021-02-015323.453608247424
2021-03-015222.938144329897
2021-04-015576.030927835053
2021-05-015853.092783505155
2021-06-016427.835051546393
2021-07-016528.350515463918
2021-08-016190.721649484536
2021-09-016773.19587628866
2021-10-017364.690721649485
2021-11-016173.969072164949
2021-12-017005.154639175258
2022-01-018051.546391752578
2022-02-018695.876288659794
2022-03-019551.54639175258
2022-04-019943.298969072164
2022-05-0111014.17525773196
2022-06-0110354.38144329897
2022-07-0110057.98969072165
2022-08-019421.391752577321
2022-09-018412.37113402062
2022-10-019217.783505154639
2022-11-019050.257731958764
2022-12-019034.79381443299
2023-01-018932.989690721648
2023-02-018661.082474226805
2023-03-018561.855670103094
2023-04-018698.453608247422
2023-05-017813.144329896908
2023-06-018189.432989690721
2023-07-019429.123711340208
2023-08-019672.680412371135
2023-09-0110420.103092783505
2023-10-019667.525773195877
2023-11-019038.659793814435
2023-12-018588.917525773197
2024-01-019139.17525773196
2024-02-019453.60824742268
2024-03-0110145.618556701033
2024-04-0110100.515463917525
2024-05-019641.752577319588
2024-06-0110256.443298969074
2024-07-0110018.041237113403
2024-08-019579.896907216496
2024-09-019010.309278350516
2024-10-019417.525773195877
2024-11-019228.092783505155
2024-12-019735.824742268042
2025-01-0110054.123711340206
2025-02-019693.298969072166
2025-03-019965.20618556701
2025-04-018190.721649484537
2025-05-018653.350515463919
2025-06-019421.391752577321
2025-07-0110256.443298969074
2025-08-019644.329896907218
2025-09-019503.865979381444
2025-10-019350.515463917527
2025-11-019158.505154639175
2025-12-018912.37113402062
2026-01-0110247.422680412372
2026-02-0110560.567010309278
2026-03-0116398.19587628866
2026-04-0116216.494845360827
Annual Return Matrix
YearAnnual Return
20170.024744027303754246
2018-0.19567027477102417
20190.32608695652173925
2020-0.6778883684621391
20210.6467737049378977
20220.2897350993377483
2023-0.04935101982598766
20240.1335333833458363
2025-0.08457974851091998
20260.8195488721804514
Total Factor Risk
0.2696010861083065
VTI.US Exposure
2.1320867001499293e-17
VEA.US Exposure
-1.0010047128009494e-16
VWO.US Exposure
3.085758059966509e-17
QQQ.US Exposure
3.6732794707370374e-17
VTV.US Exposure
-5.68921962947985e-19
IJR.US Exposure
-4.4303859006317815e-18
QUAL.US Exposure
-4.2650096170203325e-17
SHV.US Exposure
-1.3605034794133251e-17
TLT.US Exposure
-7.662393773051494e-17
LQD.US Exposure
7.657649097953715e-17
HYG.US Exposure
-3.0514154516487375e-18
GLD.US Exposure
-1.0213254042864699e-17
USO.US Exposure
0.9999998624195502
VNQ.US Exposure
-4.892328329927876e-18
BTC-USD.CC Exposure
-1.204314573344909e-17
CPER.US Exposure
1.2199702878012689e-18
VIX.INDX Exposure
-3.115000573668397e-17
UUP.US Exposure
4.04054314350727e-17
TIP.US Exposure
2.3254768170018196e-18
Idiosyncratic Exposure
1.3758044983465526e-7
Value Score
50
Growth Score
50
Profit Score
37.5
Health Score
23.6
Yield Score
0
Moat Score
40

Factor Risk Decomposition

Share of annualised volatility attributable to each macro factor.

Total Est. Vol
27.0%

FundamentalsiCompany financial health metrics: P/E valuation, dividend yield, Piotroski F-Score (9-point profitability signal), Altman Z-Score (bankruptcy risk proxy), and a radar chart across 6 fundamental dimensions. Note: ETFs may show N/A for some metrics.

Fundamental Dimensions

Core Valuation

P/E Ratio (TTM)P/E RatioPrice-to-Earnings ratio — the market price of a stock divided by its earnings per share, a key valuation measure.Click for full definition →N/A
Dividend YieldDividend YieldAnnual dividend paid per share divided by the current share price — expressed as a percentage income return.Click for full definition →0.00%
Market Cap$0
Piotroski F-ScorePiotroski F-ScoreA 9-point scoring system evaluating a company's financial strength across profitability, leverage, and operating efficiency.Click for full definition →
9-point profitability signal
0.0/ 9
Weak
Altman Z-ScoreAltman Z-ScoreA bankruptcy prediction model that combines 5 financial ratios into a single score indicating financial distress risk.Click for full definition →
Bankruptcy risk proxy
1.18
Distress Zone
Income Simulation

Based on $10,000 initial investment.

Total Income Generated
$0
Avg Yield on Cost
0.00%

Momentum & MacroiPrice momentum indicators relative to key technical levels: distance from 50-Day SMA (intermediate trend), 200-Day SMA (long-term trend), 52-Week High (bullish proximity), and Beta (market sensitivity coefficient).

vs 50-Day SMAMoving Averages (SMA)A rolling average of an asset's price over a defined window — used to identify trends and momentum signals.Click for full definition →
+20.6%
Above/below 50-day moving average
vs 200-Day SMAMoving Averages (SMA)A rolling average of an asset's price over a defined window — used to identify trends and momentum signals.Click for full definition →
+55.9%
Above/below 200-day moving average
vs 52-Week High52-Week HighThe highest price an asset reached in the past 52 weeks — a key reference for momentum and valuation context.Click for full definition →
9.4% from high
Distance from 52-week high
BetaBetaA measure of an asset's sensitivity to broad market movements relative to a benchmark (e.g. S&P 500).Click for full definition →
1.12
Market sensitivity coefficient

Frequently Asked Questions & Methodology

Is United States Oil Fund LP a high-risk investment?

United States Oil Fund LP (USO.US) has an annualized volatility of 27.0% and experienced a maximum drawdown of 84.6% over the last 10 years. Its primary macro risk driver is USO.US.

What is the 10-year return of USO.US?

Over the past 10 years, USO.US has generated a Compound Annual Growth Rate (CAGR) of 2.9%. It has had a positive return in 60% of the years measured.

Data Methodology & Trust

The risk and return information on this page is pre-calculated mathematically using daily market data spanning a 10-year period. Fundamentals (such as P/E Ratio, Market Cap, and Dividend Yield) represent trailing averages and may not immediately reflect real-time live market fluctuations. Advanced scoring models like the Piotroski F-Score and Altman Z-Score are proxies applied to publicly available trailing-twelve-month financial statements and may not account for recent off-balance-sheet events, qualitative company shifts, or sector-specific capital structures. Macroeconomic factor exposures are estimated via multivariate regression against standard market indices. This data is provided for quantitative insight and backtesting research, and should not be misconstrued as tailored financial advice.

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