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Data as of Oct 28, 2026.

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IVV vs USO: Differences, Returns & Fees

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IVV 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: $885.1bn on Oct 27, 2026 for iShares Core S&P 500 ETF, and $1.9bn on Oct 28, 2026 for United States Oil Fund, LP.

IVV on its own →USO on its own →
At a glance
+13.7%
IVV total return, 1 year
+133.3%
USO total return, 1 year
0.03%
IVV expense ratio
0.86%
USO expense ratio

Pair scorecard

IVV costs 0.83 points a year less; their one-year returns differ by 119.6 points; IVV is far larger, $885.1bn against $1.9bn.

IVV vs USO: Differences, Returns & Fees
MeasureIVVUSO
Return
Total return, 1 year+13.7%+133.3%
Drawdown
Below its high82.3%, high on Jul 14, 2008
Benchmark
What it tracksS&P 500Oil futures
Cost and size
Expense ratio0.03%0.86%
Net assets, as of Oct 27, 2026$885.1bn$1.9bn
Holdings
Holdings in commonnot published
In the S&P 500, by weight100%
Top ten holdings, share of the fund38.1%

Method

Side by side

IVV iShares Core S&P 500 ETF USO United States Oil Fund, LP
Where it sits Stock ETF Commodity ETF
Issuer iShares USCF
What it is Tracks the S&P 500 Holds oil futures
Total return, 1 year +13.7% +133.3%
Its benchmark over the same days +13.6% (SPY) not measured
Gap to its benchmark +0.1 pts vs SPY not measured
Expense ratio 0.03% 0.86%
Holdings 505 not counted
Net assets, IVV as of Oct 27, 2026 and USO as of Oct 28, 2026 $885.1bn $1.9bn

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

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About each fund
IVV

IVV tracks the S&P 500. Over the year to Oct 28, 2026 it returned +13.7% with distributions reinvested, against +13.6% for its benchmark, the S&P 500. The prospectus expense ratio is 0.03% a year. By its holdings published by its issuer for Oct 27, 2026, 100% of the fund by weight is stocks the S&P 500 also holds, across 505 positions, with the top ten at 38.1%.

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, IVV or USO?
In the year to Oct 28, 2026, with distributions reinvested, IVV returned +13.7% and USO +133.3%.
Which is cheaper, IVV or USO?
IVV is cheaper, by 0.83 percentage points a year. That is about $83 on $10,000 held for a year. Fees come from each fund's prospectus.
Other comparisons
IVV vs SIVRBWET vs IVVIVV vs SLVGLDM vs IVVSPY vs USOUSO vs VOOUSO vs VTICGGR vs USO
Where to next
IVV on its own →USO on its own →Hold both: look the portfolio through →Rankings →IVV dividend history →IVV holdings →Standards and sources →
Sources and dates
IVV filings on SEC EDGAR ↗
IVV prospectus with the expense ratio (SEC) ↗
iShares page for IVV ↗
USCF website ↗

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

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

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