IVV vs USO
iShares Core S&P 500 ETF vs United States Oil Fund
Quick Verdict
IVV has a lower expense ratio. USO delivered stronger 1-year returns. IVV offers more diversification with 508 holdings.
Side-by-Side Comparison
| Metric | IVV | USO | Winner |
|---|---|---|---|
| Expense Ratio | 0.03% | 0.86% | |
| AUM | $865.2B | $2.2B | |
| Dividend Yield | 1.09% | 0.00% | |
| Holdings | 508 | 7 | |
| YTD Return | +14.50% | +81.31% | |
| 1Y Return | +22.02% | +72.55% | |
| 3Y Return (annualized) | +21.80% | +19.22% | |
| 5Y Return (annualized) | +13.37% | +21.40% | |
| Volatility (annualized) | 15.1% | 37.8% | |
| Max Drawdown | -56.5% | -98.2% | |
| Fund Family | iShares by BlackRock (US) | USCF Investments | |
| Category | Equity | Commodity | |
| Inception | May 15, 2000 | Apr 10, 2006 |
IVV vs USO Performance
iShares Core S&P 500 ETF (IVV) is a ETF from iShares by BlackRock (US) and United States Oil Fund (USO) is a ETF from USCF Investments. Over the past year IVV returned +22.02% while USO returned +72.55%. Year to date, IVV is up 14.50% versus a gain of 81.31% for USO.
Over three years, IVV compounded at +21.80% per year against +19.22% for USO; over five years the annualized figures are +13.37% and +21.40% respectively. Across the full 20-year window we track, IVV has the edge at +7.07% annualized vs -6.97%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
USO has been the more volatile fund, with annualized monthly volatility of 37.8% 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 -98.2% for USO. 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 0.33. They move independently enough that combining them can meaningfully diversify a portfolio.
Fees and Cost Over Time
IVV charges 0.03% per year while USO charges 0.86%. On a $10,000 position that is $3 vs $86 annually, a gap of $83 per year that compounds over a long holding period. On income, IVV currently yields 1.09% against 0.00% for USO.
Holdings Overlap
IVV and USO 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 USO?
IVV has an expense ratio of 0.03% while USO charges 0.86%. IVV is the cheaper option. On a $10,000 investment, that is $83 per year of difference.
Which performed better, IVV or USO?
Over the past year IVV returned +22.02% vs +72.55% for USO, so USO leads on 1-year performance. Over the longest common window we track (20 years), IVV annualized +7.07% vs -6.97% for USO. Past performance does not guarantee future results.
Which is riskier, IVV or USO?
USO has been the more volatile fund at 37.8% annualized versus 15.1% for IVV. Worst drawdown: IVV -56.5% vs USO -98.2%.
Should I hold both IVV and USO?
IVV and USO have a monthly-return correlation of 0.33, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between IVV and USO?
IVV and USO share 0 common holdings with a 0.0% weight overlap. Combined, they hold 507 unique securities.
Which pays a higher dividend, IVV or USO?
IVV yields 1.09% while USO yields 0.00%, so IVV currently pays the higher dividend yield.
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