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OILK vs USO

ProShares K-1 Free Crude Oil ETF

OILKACboe

United States Oil Fund, LP

USOBNYSE Arca

Overlap

0.0%by weight

Expense ratio

OILK −0.16pt a year

OILK0.70%USO0.86%

Avg volume · 30D

USO 50.8×the volume

OILK113KUSO5.73M

10Y return · a year

USO +1.1pt

OILK+6.1%USO+7.2%

OILK vs USO Performance

Oct 29, 2021 – Oct 30, 2026

+130.6%OILK+195.4%USO

Oct 29, 2021 to Oct 30, 2026. OILK +130.6%. USO +195.4%. Use the arrow keys to read each point.0%50%100%Oct 2021Apr 2024Oct 2026
Expense ratio
OILK 0.70%, better
USO 0.86%
Fund size
OILK $259M
USO $1.95B
1Y total return
OILK +89.1%
USO +132.7%, better
Yield (12M)
OILK 15.32%
USO No data
Holdings
OILK 2
USO 17
Avg volume (30D)
OILK 113K sh
USO 5.73M sh, better
NAV per share
OILK $62.65
USO $170.39
52W range

ETF.net Grade

OILK: Cost 93, Risk 69, Mission not scored, Tradability 68, Holdings 28, Durability 72. USO: Cost 65, Risk 43, Mission not scored, Tradability 70, Holdings 100, Durability 71.
Pillar letters and Scores for OILK, USO, with each pillar’s weight
PillarOILKUSO
Cost30% weightA93HigherB65
Mission25% weightNot scoredNot scored
Risk15% weightB69HigherC43
Tradability15% weightB68A70Higher
Holdings10% weightD28A100Higher
Durability5% weightA72HigherA71

Rank among Energy Futures funds

How we build Categories ›
Same Category. Both funds are graded against the same funds, so their Grades compare head to head.

Same Category. OILK and USO are both graded against the same 11 Energy Futures funds, so their Grades compare head to head.

Energy Futures⁠

Category · 11 funds
See all 11 ›

OILK ranks 1st and USO 4th of 11 funds in the Energy Futures Category.

  1. Rank 1AOILKProShares K-1 Free Crude Oil ETFScore 79
  2. Rank 2BDBEInvesco DB Energy FundScore 69
  3. Rank 3BDBOInvesco DB Oil FundScore 67
  4. Rank 4BUSOUnited States Oil Fund, LPScore 61
  5. Rank 5CUSLUnited States 12 Month Oil FundScore 51

Our read on each fund

ETF.net Research

OILKAProShares K-1 Free Crude Oil ETF

USOBUnited States Oil Fund, LP

In short

OILK The only crude oil ETF that spares you a Schedule K-1. OILK sends a 1099 instead, and its index spreads WTI futures across three roll schedules rather than camping in the front month. All-in cost: 0.70%.

USO The 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

OILK The Fund seeks to track, before fees and expenses, the Bloomberg Commodity Balanced WTI Crude Oil IndexSM.

USO 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

  • OILK At 0.70%, the cheapest of the headline oil-futures funds: USO charges 0.86%, USL 1.01%, DBO 0.81%, none of them waiver-assisted.
  • A 1940 Act fund that holds its futures through a Cayman subsidiary capped at 25% of assets each quarter-end, so tax time brings a 1099, not a partnership K-1.proshares.comproshares.com 2
  • Its index splits WTI exposure evenly across a monthly roll, a June annual roll and a December annual roll, resetting each March and September, diluting front-month roll costs.bbhub.io
  • Trading since 2016 and one of the stronger implementations in a small energy-futures peer group.
  • USO 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

  • OILK Tracks a futures index, not spot WTI. ProShares says plainly it should be expected to perform very differently from the spot price of WTI crude.proshares.com
  • One commodity, one curve: the portfolio is a few WTI futures positions plus cash-like collateral, so it moves with oil and nothing else.proshares.com
  • Income, if any, is paid monthly and comes largely from collateral yield, so the amount moves around rather than acting like a fixed coupon.proshares.com
  • USO 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.

Full OILK profile⁠

Full USO profile⁠

OILK vs USO Holdings

How OILK and USO differ

Overlap by weight

0.0%

Shared holdings make up 0.0% of OILK and 0.0% of USO.

Level by level

  • Holdings0 in both0.0%
  • Asset classCommodities100%
  • Countryby domicile100%

Sector

No Sector split for USO.

Country, concentration and asset class

Country by domicile

Country weights in OILK and USO, widest gap first
CountryMore in OILKMore in USO
United StatesSame weight

Concentration

Weight in the 10 largest Holdings

  • OILK100.0%
  • USO91.4%

Securities held

  • OILK1
  • USO14

Asset class

OILK
Commodities
USO
Commodities

Holdings

  • Only in OILK1
  • In both0
  • Only in USO14

Only in OILK

1 security, 69.0% of OILK by weight

  • Proshares Genius Mny Mkt Etf68.98%

Only in USO

14 securities, 41.1% of USO by weight

  • Drey Inst Pref Gov Mm Inst 654612.45%
  • Trs Macquarie MQCP361E 072120264.18%
  • Trs Soc Gen Sgixcwti 061820263.83%

Weight gaps

OILK and USO share no securities.

All 4 OILK holdings⁠All USO holdings⁠

How we measure overlap

Each holding counts at its smaller weight in the two funds, summed over the full Holdings. Sector, country and asset class use the same rule on each fund’s split. Cash, FX and derivative lines stay out of the counts. Two bond funds get no overlap figure.

OILK vs USO Cost

Overpaying USO vs OILK

$2,762

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

  • OILK 0.70%

    $13,606

  • USO 0.86%

    $16,368

$10,000
30 years

Cost over time

  • OILK 0.70%
  • USO 0.86%
  • 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

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

Expense ratio

  • 0.70%OILK, cheaper
  • 0.86%USO
  • Middle half of Energy Futures funds
  • Median 1.01%

OILK cheapest of 11 funds

USO 4th cheapest of 11 funds

OILK vs USO Dividends

Last 12 months to Oct 30, 2026
Yield (12M)
OILK 15.32%
USO No data
Payout (12M)
OILK $9.54
USO None
Last payment
OILK $2.57
USO No data
Ex-dividend
OILK Oct 1, 2026
USO No data
Paid on
OILK Oct 7, 2026
USO No data
Frequency
OILK Monthly
USO No data

Distribution history

Per share, 2023 to 2026, same scale for both

OILKMonthly · 38 paymentsAll OILK payments⁠
One bar per payment. 38 payments from 2023 to 2026 YTD. Mar 1, 2023 $0.06; Apr 3, 2023 $0.11; May 1, 2023 $0.10; Jun 1, 2023 $0.12; Jul 3, 2023 $0.12; Aug 1, 2023 $0.12; Sep 1, 2023 $0.12; Oct 2, 2023 $1.02; Nov 1, 2023 $0.48; Dec 1, 2023 $0.20; Feb 1, 2024 $0.22; May 1, 2024 $0.26; Jul 1, 2024 $0.23; Sep 3, 2024 $0.12; Oct 1, 2024 $0.14; Nov 1, 2024 $0.12; Dec 2, 2024 $0.10; Dec 23, 2024 $0.19; Feb 3, 2025 $0.31; Mar 3, 2025 $0.32; Apr 1, 2025 $0.09; May 1, 2025 $0.10; Jun 2, 2025 $0.09; Jul 1, 2025 $0.39; Aug 1, 2025 $0.11; Sep 2, 2025 $0.10; Oct 1, 2025 $0.11; Nov 3, 2025 $0.08; Dec 24, 2025 $0.08; Feb 2, 2026 $0.03; Mar 2, 2026 $0.27; Apr 1, 2026 $0.87; May 1, 2026 $1.19; Jun 1, 2026 $1.44; Jul 1, 2026 $0.24; Aug 3, 2026 $1.31; Sep 1, 2026 $1.45; Oct 1, 2026 $2.57. Use the arrow keys to read each point.$0$2.5020232026YTD
USOAll USO payments⁠

No distribution history available.

OILK vs USO Risk

Fall from peak · 5 years

  • OILK
  • USO
Oct 29, 2021 to Oct 30, 2026. Worst fall: USO −36.2% · Mar 2023. Use the arrow keys to read each point.−30%−20%−10%0%Oct 2021Apr 2024Oct 2026

Risk facts

VolatilityStd dev, 3 years
OILK 26.3%, betterUSO 43.1%
Return per unit of riskSharpe ratio, 3 years
OILK 0.65USO 0.71, better
Worst fallMax drawdown, 5 years
OILK −34.6%, betterUSO −36.2%
Market sensitivityBeta, 5 years
OILK 1.37USO 2.22

OILK and USO in the news

All news⁠

Popular comparisons

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