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Data as of Oct 28, 2026.

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IWO vs USO: Differences, Returns & Fees

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IWO is an equity index fund and USO a commodity futures fund, and over the year to Oct 28, 2026, USO returned +133.3% against +7.9%.

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Net assets: $14.0bn on Oct 27, 2026 for iShares Russell 2000 Growth ETF, and $1.9bn on Oct 28, 2026 for United States Oil Fund, LP.

IWO on its own →USO on its own →
At a glance
+7.9%
IWO total return, 1 year
+133.3%
USO total return, 1 year
0.24%
IWO expense ratio
0.86%
USO expense ratio

Pair scorecard

IWO costs 0.62 points a year less; their one-year returns differ by 125.4 points; IWO is 7.4 times larger.

IWO vs USO: Differences, Returns & Fees
MeasureIWOUSO
Return
Total return, 1 year+7.9%+133.3%
Drawdown
Below its high9.9%, high on Aug 14, 202682.3%, high on Jul 14, 2008
Benchmark
What it tracksRussell 2000 Growth IndexOil futures
Cost and size
Expense ratio0.24%0.86%
Net assets, as of Oct 27, 2026$14.0bn$1.9bn
Holdings
Holdings in commonnot published
In the S&P 500, by weight0%
Top ten holdings, share of the fund6.4%

Method

Side by side

IWO iShares Russell 2000 Growth ETF USO United States Oil Fund, LP
Where it sits Stock ETF Commodity ETF
Issuer iShares USCF
What it is Tracks the Russell 2000 Growth Holds oil futures
Total return, 1 year +7.9% +133.3%
Its benchmark over the same days +8.0% (VTWG) not measured
Gap to its benchmark −0.1 pts vs VTWG not measured
Expense ratio 0.24% 0.86%
Holdings 1122 not counted
Net assets, IWO as of Oct 27, 2026 and USO as of Oct 28, 2026 $14.0bn $1.9bn

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

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About each fund
IWO

IWO tracks the Russell 2000 Growth. Over the year to Oct 28, 2026 it returned +7.9% with distributions reinvested, against +8.0% for its benchmark, the Russell 2000 Growth Index. The prospectus expense ratio is 0.24% 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 1,122 positions, with the top ten at 6.4%. It sat 9.9% below its high of Aug 14, 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, IWO or USO?
In the year to Oct 28, 2026, with distributions reinvested, IWO returned +7.9% and USO +133.3%.
Which is cheaper, IWO or USO?
IWO is cheaper, by 0.62 percentage points a year. That is about $62 on $10,000 held for a year. Fees come from each fund's prospectus.
Other comparisons
BWET vs IWOIWO vs SLVGLD vs IWOIWO vs SIVRUSO vs VBKMOAT vs USOONEQ vs USOCOWZ vs USO
Where to next
IWO on its own →USO on its own →Hold both: look the portfolio through →Rankings →IWO dividend history →IWO holdings →Standards and sources →
Sources and dates
IWO filings on SEC EDGAR ↗
IWO prospectus with the expense ratio (SEC) ↗
iShares page for IWO ↗
USCF website ↗

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

Cite this pageCitation, APA and Markdown

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

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