SMOX vs USL

Comparison between Horizon SmallMid Cap Core Equity ETF (SMOX, ETF) and United States 12 Month Oil Fund LP (USL, ETF).

SMOX vs USL - Performance Comparison

Log

Key Characteristics

Financial metrics and valuation ratios

Metric	SMOX(ETF)	USL(ETF)
Net Assets	$59M	$59M
Expense Ratio	0.75%	1.01%
Max Drawdown	7.76%	89.06%
Sharpe Ratio	1.76	1.51
5Y Beta	0.96	0.16
P/E Ratio	20.59	N/A
Forward P/E	16.54	N/A
PEG Ratio	0.21	N/A
5Y EPS CAGR	19.51%	N/A
Debt to Equity	30.31%	N/A
P/S Ratio	1.52	N/A
P/B Ratio	2.70	N/A

Net Assets

SMOX

$59M

USL

$59M

Expense Ratio

Winner

SMOX

0.75%

USL

1.01%

Max Drawdown

Winner

SMOX

7.76%

USL

89.06%

Sharpe Ratio

Winner

SMOX

1.76

USL

1.51

5Y Beta

SMOX

0.96

Winner

USL

0.16

P/E Ratio

SMOX

20.59

USL

N/A

Forward P/E

SMOX

16.54

USL

N/A

PEG Ratio

SMOX

0.21

USL

N/A

5Y EPS CAGR

SMOX

19.51%

USL

N/A

Debt to Equity

SMOX

30.31%

USL

N/A

P/S Ratio

SMOX

1.52

USL

N/A

P/B Ratio

SMOX

2.70

USL

N/A

SMOX vs USL - Historical Returns

Returns include dividend reinvestment.

Period	SMOX	USL
1 month	-0.26%	-4.03%
3 months	+7.05%	+26.05%
6 months	+15.38%	+51.69%
1 year	N/A	+52.34%
5 years(CAGR)	N/A	+16.55%
10 years(CAGR)	N/A	+10.34%
Max(CAGR)	+34.46%	+0.10%

Winner

SMOX

-0.26%

USL

-4.03%

SMOX

+7.05%

Winner

USL

+26.05%

SMOX

+15.38%

Winner

USL

+51.69%

SMOX

N/A

USL

+52.34%

5Y(CAGR)

SMOX

N/A

USL

+16.55%

10Y(CAGR)

SMOX

N/A

USL

+10.34%

Max(CAGR)

Winner

SMOX

+34.46%

USL

+0.10%

SMOX vs USL - Annual Returns (2007 - 2026)

Returns include dividend reinvestment.

Year	SMOX	USL
2026	+14.18%	+57.55%
2025	+0.44%	-13.51%
2024	N/A	+9.35%
2023	N/A	+2.16%
2022	N/A	+25.84%
2021	N/A	+65.27%
2020	N/A	-25.39%
2019	N/A	+25.29%
2018	N/A	-14.64%
2017	N/A	+4.24%
2016	N/A	+20.01%
2015	N/A	-35.41%
2014	N/A	-35.84%
2013	N/A	+6.91%
2012	N/A	-11.94%
2011	N/A	+0.78%
2010	N/A	+4.42%
2009	N/A	+26.44%
2008	N/A	-46.75%
2007	N/A	+5.09%

SMOX vs USL Drawdown Comparison

The maximum drawdown for SMOX was -7.76%, occurring on Mar 20, 2026. Recovery took 26 trading sessions.

The maximum drawdown for USL was -89.06%, occurring on Apr 28, 2020. This drawdown has not yet recovered.

The current SMOX drawdown is -1.72%. The current USL drawdown is -40.38%.

Rank	SMOX	USL
#1	-7.76% Mar 2, 2026 - Apr 8, 2026	-89.06% Jul 11, 2008 - Apr 28, 2020
#2	-3.45% May 6, 2026 - May 26, 2026	-10.83% Mar 13, 2008 - Apr 7, 2008
#3	-2.53% Dec 11, 2025 - Jan 5, 2026	-10.40% Jan 3, 2008 - Feb 19, 2008
#4	-1.72% Jun 4, 2026 - Jun 5, 2026	-9.47% May 21, 2008 - Jun 6, 2008
#5	-1.61% Jan 21, 2026 - Feb 6, 2026	-6.96% Jul 3, 2008 - Jul 11, 2008
#6	-1.51% Apr 27, 2026 - Apr 30, 2026	-4.50% Apr 25, 2008 - May 5, 2008
#7	-1.43% Feb 20, 2026 - Feb 25, 2026	-3.49% Jun 6, 2008 - Jun 23, 2008
#8	-1.29% Feb 11, 2026 - Feb 20, 2026	-3.05% Feb 28, 2008 - Mar 5, 2008
#9	-1.27% May 26, 2026 - Jun 4, 2026	-2.80% May 9, 2008 - May 19, 2008
#10	-0.91% Jan 15, 2026 - Jan 21, 2026	-2.58% Dec 12, 2007 - Dec 26, 2007
#11	-0.78% Feb 26, 2026 - Mar 2, 2026	-2.16% Dec 6, 2007 - Dec 12, 2007
#12	-0.63% Dec 5, 2025 - Dec 10, 2025	-1.82% Jun 23, 2008 - Jun 26, 2008
#13	-0.62% Apr 14, 2026 - Apr 17, 2026	-1.12% Apr 22, 2008 - Apr 25, 2008
#14	-0.51% Apr 9, 2026 - Apr 13, 2026	-0.96% Feb 21, 2008 - Feb 26, 2008
#15	-0.46% Apr 20, 2026 - Apr 27, 2026	-0.86% Apr 9, 2008 - Apr 14, 2008