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Data as of Oct 28, 2026.

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FENI vs USO: Differences, Returns & Fees

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FENI is an actively managed equity fund and USO a commodity futures fund, and over the year to Oct 28, 2026, USO returned +133.3% against +14.2%.

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Net assets: $11.5bn on Sep 30, 2026 for Fidelity Enhanced International ETF, and $1.9bn on Oct 28, 2026 for United States Oil Fund, LP.

FENI on its own →USO on its own →
At a glance
+14.2%
FENI total return, 1 year
+133.3%
USO total return, 1 year
0.28%
FENI expense ratio
0.86%
USO expense ratio

Pair scorecard

FENI costs 0.58 points a year less; their one-year returns differ by 119.1 points.

FENI vs USO: Differences, Returns & Fees
MeasureFENIUSO
Return
Total return, 1 year+14.2%+133.3%
Drawdown
Below its high4.7%, high on Aug 13, 202682.3%, high on Jul 14, 2008
Benchmark
What it tracksNo index, actively managedOil futures
Cost and size
Expense ratio0.28%0.86%
Net assets, FENI as of Sep 30, 2026 and USO as of Oct 28, 2026$11.5bn$1.9bn
Holdings
Holdings in commonnot published
In the S&P 500, by weight0%
Top ten holdings, share of the fund16.5%

Method

Side by side

FENI Fidelity Enhanced International ETF USO United States Oil Fund, LP
Where it sits Stock ETF Commodity ETF
Issuer Fidelity USCF
What it is Actively managed Holds oil futures
Total return, 1 year +14.2% +133.3%
Its benchmark over the same days +12.1% (EFA) not measured
Gap to its benchmark +2.1 pts vs EFA not measured
Expense ratio 0.28% 0.86%
Holdings 386 not counted
Net assets, FENI as of Sep 30, 2026 and USO as of Oct 28, 2026 $11.5bn $1.9bn

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

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About each fund
FENI

FENI is actively managed and tracks no index. Over the year to Oct 28, 2026 it returned +14.2% with distributions reinvested, against +12.1% for its benchmark, the MSCI EAFE Index. The prospectus expense ratio is 0.28% a year. By its holdings filed for Jun 30, 2026, 0% of the fund by weight is stocks the S&P 500 also holds, across 386 positions, with the top ten at 16.5%. It sat 4.7% below its high of Aug 13, 2026 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, FENI or USO?
In the year to Oct 28, 2026, with distributions reinvested, FENI returned +14.2% and USO +133.3%.
Which is cheaper, FENI or USO?
FENI is cheaper, by 0.58 percentage points a year. That is about $58 on $10,000 held for a year. Fees come from each fund's prospectus.
Other comparisons
BWET vs FENIFENI vs SLVFENI vs SIVRFENI vs GLDMUSO vs VEUUSO vs VXUSIEFA vs USOUSO vs VEA
Where to next
FENI on its own →USO on its own →Hold both: look the portfolio through →Rankings →FENI dividend history →FENI holdings →Standards and sources →
Sources and dates
FENI filings on SEC EDGAR ↗
FENI prospectus with the expense ratio (SEC) ↗
Fidelity website ↗
USCF website ↗

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

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

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