IVV vs USL
iShares Core S&P 500 ETF vs United States 12 Month Oil Fund
Quick Verdict
IVV has a lower expense ratio. USL delivered stronger 1-year returns. IVV offers more diversification with 505 holdings.
Side-by-Side Comparison
| Metric | IVV | USL | Winner |
|---|---|---|---|
| Expense Ratio | 0.03% | 1.02% | |
| AUM | $865.2B | $45M | |
| Dividend Yield | 1.09% | 0.00% | |
| Holdings | 508 | 16 | |
| YTD Return | +13.43% | +53.07% | |
| 1Y Return | +22.61% | +42.78% | |
| 3Y Return (annualized) | +21.47% | +10.68% | |
| 5Y Return (annualized) | +13.26% | +15.29% | |
| Volatility (annualized) | 15.1% | 29.4% | |
| Max Drawdown | -56.5% | -89.1% | |
| Fund Family | iShares by BlackRock (US) | USCF Investments | |
| Category | Equity | Commodity | |
| Inception | May 15, 2000 | Dec 6, 2007 |
IVV vs USL Performance
iShares Core S&P 500 ETF (IVV) is a ETF from iShares by BlackRock (US) and United States 12 Month Oil Fund (USL) is a ETF from USCF Investments. Over the past year IVV returned +22.61% while USL returned +42.78%. Year to date, IVV is up 13.43% versus a gain of 53.07% for USL.
Over three years, IVV compounded at +21.47% per year against +10.68% for USL; over five years the annualized figures are +13.26% and +15.29% respectively. Across the full 19-year window we track, IVV has the edge at +7.03% annualized vs -0.05%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
USL has been the more volatile fund, with annualized monthly volatility of 29.4% compared with 15.1% for IVV. Lower volatility generally means a smoother ride, though it often comes with lower long-run returns.
The deepest peak-to-trough decline in our data was -56.5% for IVV and -89.1% for USL. Drawdown depth is worth weighing if you expect to sell during market stress rather than ride it out.
The two funds' monthly returns correlate at 0.43. They move independently enough that combining them can meaningfully diversify a portfolio.
Fees and Cost Over Time
IVV charges 0.03% per year while USL charges 1.02%. On a $10,000 position that is $3 vs $102 annually, a gap of $99 per year that compounds over a long holding period. On income, IVV currently yields 1.09% against 0.00% for USL.
Holdings Overlap
IVV and USL share 0 holdings out of 507 unique holdings combined, representing a 0.0% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Frequently Asked Questions
Which is cheaper, IVV or USL?
IVV has an expense ratio of 0.03% while USL charges 1.02%. IVV is the cheaper option. On a $10,000 investment, that is $99 per year of difference.
Which performed better, IVV or USL?
Over the past year IVV returned +22.61% vs +42.78% for USL, so USL leads on 1-year performance. Over the longest common window we track (19 years), IVV annualized +7.03% vs -0.05% for USL. Past performance does not guarantee future results.
Which is riskier, IVV or USL?
USL has been the more volatile fund at 29.4% annualized versus 15.1% for IVV. Worst drawdown: IVV -56.5% vs USL -89.1%.
Should I hold both IVV and USL?
IVV and USL have a monthly-return correlation of 0.43, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between IVV and USL?
IVV and USL share 0 common holdings with a 0.0% weight overlap. Combined, they hold 507 unique securities.
Which pays a higher dividend, IVV or USL?
IVV yields 1.09% while USL yields 0.00%, so IVV currently pays the higher dividend yield.
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