United States Oil Fund, LP
$153.09+2.06 (+1.36%)
- 0.86%
- $1.9B
- +117.7%
- 5.9M sh
- $151.73
- low $61.75high $163.35
The ETF.net USO Grade
B
Score 62 out of 100
- 4 of 11
Score 62 of 100 falls in the B band. A is 70 or higher, B 55 to under 70, C 40 to under 55, D 25 to under 40, F under 25.
Cost
The fund’s net expense ratio, ranked against its category.B66 out of 100Rank 4 of 11Mission
Whether the fund did what it promised, tested against its stated mandate.Risk
How the fund held up when markets fell: downside volatility, drawdowns and tail loss.C43 out of 100Rank 7 of 11Tradability
How easy the fund is to trade: daily volume, and how far its price strays from net asset value.A74 out of 100Rank 1 of 11Holdings
How concentrated the fund is, and how complete and current its disclosed holdings are.A100 out of 100Rank 1 of 5Durability
Whether the fund is likely to stay open, judged by its age, its assets and its issuer’s assets.A70 out of 100Rank 1 of 11
Our read on USO
BThe original US crude oil ETF, trading since 2006 and still one of the busiest ways to get WTI exposure without opening a futures account. It holds oil futures near the front of the curve, not barrels in a tank.
USO seeks daily NAV percentage changes that reflect changes in the spot price of light, sweet crude oil delivered to Cushing, Oklahoma, measured by the Benchmark Oil Futures Contract, plus collateral interest and less expenses.
Why people hold it
- Cheap for this corner of the market: 0.86% a year against a cohort median of 1.08%.
- Live since 2006 and one of the most actively traded funds in its category, so bids and offers are usually there when you need them.
- Targets daily moves in light, sweet crude delivered to Cushing, Oklahoma, via its benchmark futures contract. No margin account, no expiries to roll yourself.sec.gov
- Since April 2020 the portfolio has reached past pure front-month into later-dated contracts, a change the fund disclosed in its filings.sec.gov
Worth knowing
- It's a commodity pool, so tax season brings a Schedule K-1 rather than a 1099. Peer OILK is built specifically to skip that paperwork.uscfinvestments.com
- Futures, not barrels. Rolling contracts forward can cost when later months trade above nearer ones, which pulls results away from headline spot oil.sec.gov
- One commodity, one price driver, and no income stream: the fund hasn't been paying distributions, so everything rides on the oil move.
USO Holdings
- Other
- 21
- 86%
- WTI CRUDE FUTURE Dec26
Geography
- United States100.00%
USO Performance
Shows how $10,000 changes over the selected period, with cash distributions reinvested at the closing price on each ex-dividend date.
USO$21,765
Returns run to the Oct 12, 2026 close, with cash distributions reinvested. Each period starts on the same date that many months or years earlier. Periods over one year show the average yearly return.
| Period | USO |
|---|---|
| Year to date | +118.4% |
| 1 month | −2.5% |
| 3 months | +38.9% |
| 1 year | +117.7% |
| 3 years | +26.0% |
| 5 years | +21.9% |
| 10 years | +5.1% |
Calendar-year total return with cash distributions hypothetically reinvested at the ex-dividend date’s closing price. The current year shows year to date.
| Year | Return bar | USO |
|---|---|---|
| 2026 YTD | +118.4% | |
| 2025 | −8.5% | |
| 2024 | +13.4% | |
| 2023 | −4.9% | |
| 2022 | +29.0% | |
| 2021 | +64.7% | |
| 2020 | −67.8% |
USO in the news
USO Dividends
No distributions in the last 12 months.
USO Risk
- 42.8%
How it’s calculated: standard deviation
The sample standard deviation of monthly total returns, multiplied by the square root of 12.
Uses up to 36 complete months, with at least 12 required. Total returns include reinvested distributions.
- 0.54
How it’s calculated: Sharpe ratio
Subtract each month’s Treasury-bill return from the fund’s monthly total return.
Divide the average of those excess returns by their sample standard deviation, then multiply by the square root of 12.
Uses up to 36 complete months, with at least 12 required. Each month uses the Treasury yield quoted at the end of the previous month.
- −36.2%
How it’s calculated: maximum drawdown
The largest percentage decline from an earlier peak, using total returns with reinvested distributions.
Uses up to five years through the last close, with at least 12 months required.
- 2.22
How it’s calculated: beta
The beta figure is supplied by FMP. The comparison index depends on the fund’s broad asset class.
USO Cost
0.86%
USO0.86%
- The middle half of Energy Futures funds
- Median 1.01%
3 of the 11 Energy Futures funds charge less.
Other funds in Energy Futures
- BDBEInvesco DB Energy FundExpense ratio 0.79%1 year return +120.2%
- BDBOInvesco DB Oil FundExpense ratio 0.81%1 year return +101.2%
- CUSLUnited States 12 Month Oil FundExpense ratio 1.01%1 year return +78.4%
- CUGAUnited States Gasoline Fund, LPExpense ratio 1.08%1 year return +142.4%
- CBNOUnited States Brent Oil Fund LPExpense ratio 1.15%1 year return +128.6%