USL vs VOO
United States 12 Month Oil Fund vs Vanguard S&P 500 ETF
Which is better, USL or VOO?
Energy against Large Cap Blend.
VOO has a lower expense ratio. USL led over 1Y and 5Y, VOO over 3Y and the full window.
MarketXLS is not an investment adviser. This comparison is generated automatically from market data and is for information only. A Best mark means the better reading on that one measure, not a recommendation to buy.
Side-by-Side Comparison
| Metric | USL | VOO |
|---|---|---|
| Expense Ratio | 1.02% | 0.03%Best |
| AUM | $44M | $997.4B |
| Dividend Yield | 0.00% | 1.08% |
| Holdings | 16 | 509 |
| YTD Return | +59.96%Best | +13.81% |
| 1Y Return | +46.59%Best | +21.53% |
| 3Y Return (annualized) | +10.60% | +21.46%Best |
| 5Y Return (annualized) | +16.08%Best | +12.87% |
| Volatility (annualized) | 28.0% | 14.1%Best |
| Max Drawdown | -81.3% | -34.3%Best |
| $10,000 over 5 years | $21,076Best | $18,319 |
| Fund Family | USCF Investments | Vanguard (US) |
| Category | Commodity | Equity |
| Style | Energy | Large Cap Blend |
| Inception | Dec 6, 2007 | Sep 7, 2010 |
Not shown on this pair: Top 10 Weight.
Volatility and max drawdown are measured over the window both funds cover: Sep 9, 2010 to Sep 3, 2026 (16 years).
USL vs VOO growth
Month-end closes. Both lines start at 0% in the first month shown, so the gap between them is the difference in growth across that window. The full view covers the 16 years both funds cover.
USL vs VOO Performance
United States 12 Month Oil Fund (USL) is an ETF from USCF Investments and Vanguard S&P 500 ETF (VOO) is an ETF from Vanguard (US). Over the past year USL returned +46.59% while VOO returned +21.53%. Year to date, USL is up 59.96% versus a gain of 13.81% for VOO.
Over three years, USL compounded at +10.60% per year against +21.46% for VOO; over five years the annualized figures are +16.08% and +12.87% respectively. Across the full 16-year window we track, VOO has the edge at +13.51% annualized vs +2.30%.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
USL has been the more volatile fund, with annualized monthly volatility of 28.0% compared with 14.1% for VOO. 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 -81.3% for USL and -34.3% for VOO. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at 0.38. They move together some of the time, and apart the rest.
Fees and Cost Over Time
USL charges 1.02% per year while VOO charges 0.03%. On a $10,000 position that is $102 vs $3 annually, a gap of $99 per year that compounds over a long holding period. On income, USL currently yields 0.00% against 1.08% for VOO.
Holdings Overlap
We hold position weights for 1 holding in USL and 505 in VOO, totalling 28.1% and 99.9% of the two funds. The two books name no position in common, so there is no overlap percentage to show.
The two holdings books were reported 50 days apart, USL as of Aug 19, 2026 and VOO as of Jun 30, 2026, so some of the difference between them is the time between the two reports rather than the funds.
0 positions in common, counted across the 1 positions we hold weights for in USL and 505 in VOO, against full books of 16 and 509.
You are not choosing between two funds in isolation.
Whichever of USL and VOO you pick has to sit alongside everything else you own. Add the rest and see what the combination actually holds.
Free for up to 10 holdings. No account needed.
Frequently Asked Questions
Which is cheaper, USL or VOO?
USL has an expense ratio of 1.02% while VOO charges 0.03%. VOO is the cheaper option, by $99 a year on a $10,000 investment.
Which performed better, USL or VOO?
Over the past year USL returned +46.59% vs +21.53% for VOO, so USL leads on 1-year performance. Over the longest common window we track (16 years), USL annualized +2.30% vs +13.51% for VOO. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, USL or VOO?
USL has been the more volatile fund at 28.0% annualized versus 14.1% for VOO. Worst drawdown: USL -81.3% vs VOO -34.3%.
Should I hold both USL and VOO?
USL and VOO have a monthly-return correlation of 0.38, so their returns are far enough apart for the mix to behave differently from either one alone. This is information, not a recommendation.
Which pays a higher dividend, USL or VOO?
USL yields 0.00% while VOO yields 1.08%, so VOO currently pays the higher dividend yield.
Is VOO better than USL?
VOO has a lower expense ratio. USL led over 1Y and 5Y, VOO over 3Y and the full window. Which one suits a particular account depends on what it is for. This is information, not a recommendation.