Which returned more over the last year, EWZ or USO?

In the year to Oct 28, 2026, with distributions reinvested, EWZ returned +13.7% and USO +133.3%.

Which is cheaper, EWZ or USO?

EWZ is cheaper, by 0.27 percentage points a year. That is about $27 on $10,000 held for a year. Fees come from each fund's prospectus.

Data as of Oct 28, 2026.

Across categories

EWZ vs USO: Differences, Returns & Fees

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EWZ is an equity index fund and USO a commodity futures fund, and over the year to Oct 28, 2026, USO returned +133.3% against +13.7%.

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Net assets on Oct 28, 2026: $10.3bn for iShares MSCI Brazil ETF and $1.9bn for United States Oil Fund, LP.

EWZ on its own →USO on its own →

At a glance

+13.7%

EWZ total return, 1 year

+133.3%

USO total return, 1 year

0.59%

EWZ expense ratio

0.86%

USO expense ratio

Pair scorecard

EWZ costs 0.27 points a year less; their one-year returns differ by 119.6 points; EWZ is 5.4 times larger.

EWZ vs USO: Differences, Returns & Fees
Measure	EWZ	USO
Return
Measure	EWZ	USO
Total return, 1 year	+13.7%	+133.3%
Drawdown
Measure	EWZ	USO
Below its high	25.4%, high on May 20, 2008	82.3%, high on Jul 14, 2008
Benchmark
Measure	EWZ	USO
What it tracks	MSCI Brazil 25/50 Index	Oil futures
Cost and size
Measure	EWZ	USO
Expense ratio	0.59%	0.86%
Net assets	$10.3bn	$1.9bn
Holdings
Measure	EWZ	USO
Holdings in common	not published
In the S&P 500, by weight	0%
Holdings dated	Oct 27, 2026
Top ten holdings, share of the fund	57.5%

Method

Side by side

EWZ iShares MSCI Brazil ETF USO United States Oil Fund, LP

Where it sits Stock ETF Commodity ETF

Issuer iShares USCF

What it is Tracks the MSCI Brazil Holds oil futures

Total return, 1 year +13.7% +133.3%

Expense ratio 0.59% 0.86%

Holdings 59 not counted

Net assets $10.3bn $1.9bn

EWZ and USO on the fields both publish, as of Oct 28, 2026. Source: ETFIQ.

Alert

About each fund

EWZ

EWZ tracks the MSCI Brazil. Over the year to Oct 28, 2026 it returned +13.7% with distributions reinvested. The prospectus expense ratio is 0.59% a year. By its holdings published by its issuer for Oct 27, 2026, 0% of the fund by weight is stocks the S&P 500 also holds, across 59 positions, with the top ten at 57.5%. It sat 25.4% below its high of May 20, 2008 on Oct 28, 2026.

USO

USO holds oil futures. Over the year to Oct 28, 2026 it returned +133.3% with distributions reinvested. The prospectus expense ratio is 0.86% a year. It sat 82.3% below its high of Jul 14, 2008 on Oct 28, 2026.

Questions people ask

Which returned more over the last year, EWZ or USO?: In the year to Oct 28, 2026, with distributions reinvested, EWZ returned +13.7% and USO +133.3%.
Which is cheaper, EWZ or USO?: EWZ is cheaper, by 0.27 percentage points a year. That is about $27 on $10,000 held for a year. Fees come from each fund's prospectus.

Other comparisons

BWET vs EWZ EWZ vs SLV EWZ vs SIVR EWZ vs GLDM ILF vs USO FENI vs USO EZU vs USO USO vs VPL

Where to next

EWZ on its own →USO on its own →Hold both: look the portfolio through →Rankings →EWZ dividend history →EWZ holdings →Standards and sources →

Sources and dates

EWZ filings on SEC EDGAR ↗

EWZ prospectus with the expense ratio (SEC) ↗

iShares page for EWZ ↗

USCF website ↗

Links are sources, not endorsements. A comparison is not a recommendation.

Cite this pageCitation, APA and Markdown

ETFIQ, EWZ against USO, data as of Oct 28, 2026. https://etfiq.com/compare/any/ewz-vs-uso

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