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Launched · SEC filings

United States Oil Fund, LP

USONYSE ArcaUSCFB

$156.87−11.96 (−7.08%)

At close: Nov 2, 2026, 4:00 PM ET

B61/ 100

Rank 4 of 11 in Energy Futures

B61/100Rank 4 of 11inEnergy Futures
Intraday session: down, 79 prints from 168.83 to 156.87. Range 155.99 to 159.71. Use the arrow keys to read each point.160.00162.50165.0010 AM12 PM2 PM4 PM
Expense ratio
0.86%
Fund size
$1.95B
1Y total return
+132.7%
Yield · Last 12 months
No data
Holdings
17
Avg volume · 30D
5.73M sh
52W range
low $65.99high $171.82
Launched
Filings
SEC EDGAR

The ETF.net USO Grade

Based on 5 of 6 pillars

B

Score 61 out of 100

Category
Energy Futures⁠
Rank
4 of 11
Six-pillar profile for USO. Scores out of 100: Cost 65, Risk 43, Mission not scored, Tradability 70, Holdings 100, Durability 71. Strongest: Holdings (100). Weakest: Risk (43). Based on 5 of 6 pillars.

Score 61 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.
    B65 out of 100
    Rank 4 of 11

  • Mission

    Whether the fund did what it promised, tested against its stated mandate.
    Not scored

  • Risk

    How the fund held up when markets fell: downside volatility, drawdowns and tail loss.
    C43 out of 100
    Rank 7 of 11

  • Tradability

    How easy the fund is to trade: daily volume, and how far its price strays from net asset value.
    A70 out of 100
    Rank 1 of 11

  • Holdings

    How concentrated the fund is, and how complete and current its disclosed holdings are.
    A100 out of 100
    Rank 1 of 5

  • Durability

    Whether the fund is likely to stay open, judged by its age, its assets and its issuer’s assets.
    A71 out of 100
    Rank 2 of 11

Our read on USO

ETF.net Research

In short

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.

Stated mandate

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

Holdings pillarA100 out of 100Rank 1 of 5 in Energy Futures
Asset class
Other
Holdings
17
Top-10 weight
91%
Largest holding
WTI CRUDE FUTURE Dec2648.5%

Geography

  • United States100.00%
The fund’s holdings, weight-ordered — page 1 of 2.
#TickerCompanyWeight %SharesMarket valueHeld by ETFs
1No dataWTI CRUDE FUTURE Dec2648.51%18,154$1.89B3
2No dataDrey Inst Pref Gov Mm Inst 654612.45%485,000,000$485M7
3No dataUs Dollars7.19%280,208,505$280M91
4No dataTrs Macquarie MQCP361E 072120264.18%2,195,848$163M1
5No dataTrs Soc Gen Sgixcwti 061820263.83%977,428$149M1
6No dataTreasury Bill 0 12/31/20263.83%150,000,000$149M34
7No dataTreasury Bill 0 2/4/20273.81%150,000,000$149M12
8No dataBny Cash Reserve3.21%124,998,194$125M11
9No dataTreasury Bill 0 11/17/20262.56%100,000,000$99.9M15
10No dataTreasury Bill 0 12/1/20261.79%70,000,000$69.8M15
11No dataTreasury Bill 0 11/3/20261.67%65,000,000$65M20
12No dataTreasury Bill 0 11/10/20261.67%65,000,000$65M16
13No dataTreasury Bill 0 12/24/20261.28%50,000,000$49.7M25
14No dataTreasury Bill 0 1/7/20271.27%50,000,000$49.7M30
15No dataTreasury Bill 0 1/21/20271.27%50,000,000$49.6M18

Showing 1–15 of 17 holdings

USO Performance

Launched Apr 10, 2006

Shows how $10,000 changes over the selected period, with cash distributions reinvested at the closing price on each ex-dividend date.

USO$23,268
SPY tracks large US stocks. It provides market context, rather than representing this fund’s strategy, asset class or investment benchmark.$11,199
Oct 31, 2025 to Oct 30, 2026. USO $23,268. SPY $11,199. Use the arrow keys to read each point.$10,000$15,000$20,000Oct 2025Apr 2026Oct 2026

Oct 31, 2025 – Oct 30, 2026

Returns run to the Oct 30, 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.

Trailing total return for USO. Periods over one year show the average yearly return.
PeriodUSO
Year to date+144.1%
1 month+15.9%
3 months+30.7%
1 year+132.7%
3 yearsper year+31.0%
5 yearsper year+24.2%
10 yearsper year+7.2%

With distributions reinvested.

Calendar-year total return with cash distributions hypothetically reinvested at the ex-dividend date’s closing price. The current year shows year to date.

Annual total returns for USO
YearReturn barUSO
2026 YTD+144.1%
2025−8.5%
2024+13.4%
2023−4.9%
2022+29.0%
2021+64.7%
2020−67.8%

USO in the news

USO Dividends

This fund pays no distributions.
No dataLast 12 months
Payout per share
No dataLast 12 months

No distributions in the last 12 months.

USO Risk

Risk pillarC43 out of 100Rank 7 of 11 in Energy Futures
How much the fund’s monthly returns vary, scaled to a year.
43.1%
Annualised · 36 months to Oct 2026
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.

Return above 3-month US Treasury bills per unit of volatility.
0.71
vs 3-month T-bills · to Oct 2026
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.

The largest fall from a peak to the low that followed.
−36.2%
Trough Mar 2023
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.

How strongly the fund’s returns move with its asset-class index.
2.22
vs its asset-class index
How it’s calculated: beta

The beta figure is supplied by FMP. The comparison index depends on the fund’s broad asset class.

FMP measures it over up to five years of monthly returns.

USO Cost

Compare USO and OILK

Overpaying vs OILK, cheapest in Energy Futures

$2,762

On $10,000 over 30 years. 7% growth a year before fees, expense ratio only.

  • USO 0.86%

    $16,368

  • OILK 0.70% Cheapest

    $13,606

$10,000
30 years

Cost over time

  • USO 0.86%
  • OILK 0.70%
  • Overpaying
One line per fund, from year 0 to year 30. Use the arrow keys to read each point.$0$5K$10K$15K$20K051015202530USO $16,368OILK $13,606

Year by year

YearUSOOILKOverpaying
10$1,525$1,250$275
20$5,768$4,760$1,008
30$16,368$13,606$2,762

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