USCF Energy Commodity Strategy Absolute… (USE) Performance
USE total return
Distributions reinvested · as of Oct 23, 2026- YTD
- +73.6% since Dec 31, 2025
- 1 year
- +59.4% total return
- 3 years
- +15.8% a year
- Since first price
- +21.9% a year since 2023
USE trailing returns vs SPY, QQQ, AGG
| Period | USE total return | Price only | S&P 500 (SPY) | Nasdaq-100 (QQQ) | U.S. bonds (AGG) |
|---|---|---|---|---|---|
| 1 month | +9.5% | +9.5% | −1.0% | −5.0% | +0.9% |
| 3 months | +16.0% | +16.0% | +3.2% | +1.9% | −0.4% |
| 6 months | +22.3% | +22.3% | +7.8% | +8.4% | −1.5% |
| YTD | +73.6% | +73.6% | +12.3% | +15.1% | −1.0% |
| 1 year | +59.4% | +54.7% | +14.4% | +15.9% | −1.1% |
| 3 years | +55.4%+15.8%/yr | +46.1% | +87.4%+23.3%/yr | +101.4%+26.3%/yr | +16.6%+5.2%/yr |
| Since inceptionMay 4, 2023 | +99.1%+21.9%/yr | +84.8% | — | — | — |
Total return from adjusted closes (distributions reinvested, before tax). Periods of 3 years or more are also shown annualized. Price only excludes distributions.
Growth of $10,000: USE vs SPY
From May 4, 2023: USE grew to $19,907, SPY to $19,592.
Year-end values with distributions reinvested, no taxes or trading costs. Start: first common trading day of both funds.
USE returns by calendar year
1 of 2 full years positive. Best 2024 (+22.6%), worst 2025 (−15.0%). 2026 is year to date.
USE annual returns table
| Year | USE | Largest drop | SPY | QQQ | AGG |
|---|---|---|---|---|---|
| 2026YTD | +73.6% | −28.2% | +12.3% | +15.1% | −1.0% |
| 2025 | −15.0% | −24.0% | +17.7% | +20.8% | +7.2% |
| 2024 | +22.6% | −13.5% | +24.9% | +25.6% | +1.3% |
Largest drop = deepest fall from a high within that calendar year.
Calendar-year return vs largest drop within the year
Most years include a sizable fall at some point even when the year ends higher.
USE largest drawdowns
At an all-time high| Peak | Decline | Bottom | Recovered | Fall | Underwater |
|---|---|---|---|---|---|
| May 19, 2026 | −28.2% | Jun 25, 2026 | Sep 9, 2026 | 37 days | 4 months |
| Jul 30, 2025 | −26.2% | Feb 2, 2026 | Mar 12, 2026 | 6 months | 7 months |
| Oct 7, 2024 | −22.1% | May 9, 2025 | Jul 30, 2025 | 7 months | 10 months |
| Oct 19, 2023 | −18.9% | Jan 8, 2024 | Mar 19, 2024 | 3 months | 5 months |
| Jul 5, 2024 | −13.0% | Sep 10, 2024 | Oct 7, 2024 | 2 months | 3 months |
Declines from a closing high (distributions reinvested) of 10% or more. Underwater = time from the peak until the old high was regained.
USE risk statistics
| Statistic | 3 years | Since 2023 |
|---|---|---|
| Annualized return | +12.2% | +19.4% |
| Volatility (annualized) | 34.2% | 33.4% |
| Sharpe ratio | 0.37 | 0.56 |
| Sortino ratio | 0.66 | 1.03 |
| Best month | +34.4% | +34.4% |
| Worst month | −17.6% | −17.6% |
| Best 12 months | +42.9% | +42.9% |
| Worst 12 months | −20.4% | −20.4% |
| Positive months | 53% | 57% |
| Beta vs S&P 500 | -0.30 | — |
| Correlation with S&P 500 | -0.11 | — |
From monthly total returns. Sharpe and Sortino use 1–3 month T-bills (BIL) as the risk-free rate, so they need history from 2007 on.
USE rolling returns
| Holding period | Periods | Worst | Median | Best | Positive |
|---|---|---|---|---|---|
| 1-year | 30 | −20.4% | +7.0% | +63.0% | 73% |
| 3-year (a year) | 6 | +8.5% | +12.0% | +18.1% | 100% |
Every holding period starting at a month-end since 2023. Returns for 3 years and longer are annualized.
USE performance overview
USCF Energy Commodity Strategy Absolute… (USE) returned +59.4% over the past year, with distributions reinvested. Since its first recorded price in 2023 it has returned +21.9% a year, turning $10,000 into about $19,907. Over the same year S&P 500 (SPY) returned +14.4%.
The deepest decline was −28.2%, from May 19, 2026 to Jun 25, 2026, and it took 2 months to get back to the old high. Volatility has been 33.4% a year.
Related: USE chart, USE dividends. See the USE overview for the latest quote and fund facts.
USE performance FAQ
What is the USE return over the past year?
USE returned +59.4% over the 12 months to October 23, 2026, including reinvested distributions. On price alone it rose 54.7%.
How much would $10,000 invested in USE be worth?
$10,000 invested in USE at its first recorded close on May 4, 2023 would be worth about $19,907 on October 23, 2026 with distributions reinvested.
What was the worst year for USE?
The worst calendar year was 2025, with a total return of −15.0%. The best was 2024 at +22.6%.
What is the biggest drawdown of USE?
The largest peak-to-trough decline was −28.2% between May 19, 2026 and June 25, 2026. It recovered to the old high on September 9, 2026, 2 months after the bottom.
How volatile is USE?
Over the past 3 years USE had an annualized volatility of 34.2% and a Sharpe ratio of 0.37 (excess return over 1–3 month T-bills per unit of risk).