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

In the year to Oct 28, 2026, with distributions reinvested, SIVR returned +15.0% and USO +133.3%.

Which is cheaper, SIVR or USO?

SIVR is cheaper, by 0.56 percentage points a year. That is about $56 on $10,000 held for a year. Fees come from each fund's own filings.

Data as of Oct 28, 2026.

Across categories

SIVR vs USO: Differences, Returns & Fees

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SIVR is a commodity fund and USO a commodity futures fund, and over the year to Oct 28, 2026, USO returned +133.3% against +15.0%.

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Net assets on Oct 28, 2026: $3.7bn for abrdn Physical Silver Shares ETF and $1.9bn for United States Oil Fund, LP.

SIVR on its own →USO on its own →

At a glance

+15.0%

SIVR total return, 1 year

+133.3%

USO total return, 1 year

0.30%

SIVR expense ratio

0.86%

USO expense ratio

Pair scorecard

SIVR costs 0.56 points a year less; their one-year returns differ by 118.3 points; SIVR is 1.9 times larger.

SIVR vs USO: Differences, Returns & Fees
Measure	SIVR	USO
Return
Measure	SIVR	USO
Total return, 1 year	+15.0%	+133.3%
Drawdown
Measure	SIVR	USO
Below its high	53.5%, high on Jan 28, 2026	82.3%, high on Jul 14, 2008
Benchmark
Measure	SIVR	USO
What it tracks	Silver	Oil futures
Cost and size
Measure	SIVR	USO
Expense ratio	0.30%	0.86%
Net assets	$3.7bn	$1.9bn
Holdings
Measure	SIVR	USO
Holdings in common	not published

Method

Risk and return

Jul 31, 2009 to Oct 23, 2026 · 899 weekly returns

SIVR USO

Return

Total return edge SIVR +267.1% −42.4%

Annualized edge SIVR +7.8% −3.1%

Price return edge SIVR +267.1% −42.4%

Risk

Volatility edge SIVR 31.0% 36.6%

Max drawdown edge SIVR −74.7% −94.8%

Risk-adjusted

Sharpe edge SIVR 0.35 0.06

Sortino edge SIVR 0.51 0.08

Calmar edge SIVR 0.10 −0.03

Reading

SIVR returned more: +267.1% to −42.4%. SIVR swung less: 31.0% to 36.6%. SIVR fell less at its worst: −74.7% to −94.8%.

Full scorecard

9 measures, with how each is measured Open ↓

Risk and return: SIVR vs USO: Differences, Returns & Fees
Measure	SIVR	USO	Edge	How it is measured
Return
Total return	+267.1%	−42.4%	SIVR	Price change plus distributions, reinvested.
Annualized	+7.8%	−3.1%	SIVR	Total return as a yearly rate.
Price return	+267.1%	−42.4%	SIVR	Price change alone, distributions left out.
Risk
Volatility	31.0%	36.6%	SIVR	Spread of weekly returns, annualized. Lower is steadier.
Downside deviation	21.3%	26.2%	SIVR	Like volatility, counting only weeks below the Treasury bill rate.
Max drawdown	−74.7%	−94.8%	SIVR	Deepest fall from a high to the low after it.
Risk-adjusted
Sharpe	0.35	0.06	SIVR	Return above Treasury bills per unit of volatility.
Sortino	0.51	0.08	SIVR	Return above Treasury bills per unit of downside deviation.
Calmar	0.10	−0.03	SIVR	Annualized return divided by the max drawdown.

Computed by ETFIQ from Tiingo daily prices and ETFIQ's distribution records, 899 weekly returns. Cash rate: the 13-week Treasury bill.

Side by side

SIVR abrdn Physical Silver Shares ETF USO United States Oil Fund, LP

Where it sits Commodity ETF Commodity ETF

Issuer abrdn USCF

What it is Holds silver Holds oil futures

Total return, 1 year +15.0% +133.3%

Its benchmark over the same days +14.9% (SLV) not measured

Gap to its benchmark +0.1 pts vs SLV not measured

Expense ratio 0.30% 0.86%

Net assets $3.7bn $1.9bn

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

Client brief · page 1 of 2 Report BR-E982D440CE

SIVR and USO are built for the same job. How do they differ in cost, holdings and results?

What each follows. SIVR follows Silver and USO follows Oil futures.
One-year total return. Over 1 year to Oct 28, 2026 SIVR returned +15.0% and USO +133.3% with distributions reinvested, a gap of 118.3 points.
Cost. SIVR charges 0.30% of assets a year and USO 0.86%, a gap of 0.56 points.

Data as of Oct 28, 2026.

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About each fund

SIVR

Its expense ratio is 0.30% a year, for the three months to Jun 30, 2026, as its 10-Q states.

SIVR holds silver. Over the year to Oct 28, 2026 it returned +15.0% with distributions reinvested, against +14.9% for its benchmark, the price of silver. It sat 53.5% below its high of Jan 28, 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, SIVR or USO?: In the year to Oct 28, 2026, with distributions reinvested, SIVR returned +15.0% and USO +133.3%.
Which is cheaper, SIVR or USO?: SIVR is cheaper, by 0.56 percentage points a year. That is about $56 on $10,000 held for a year. Fees come from each fund's own filings.

Other comparisons

BWET vs SIVR SIVR vs SLV GLDM vs SIVR IAU vs SIVR BNO vs USO DBO vs USO OILK vs USO IAU vs USO

Where to next

SIVR on its own →USO on its own →Hold both: look the portfolio through →Rankings →Standards and sources →

Sources and dates

abrdn website ↗

USCF website ↗

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

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

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