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Data as of Oct 28, 2026.

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SPHQ vs USO: Differences, Returns & Fees

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SPHQ is an equity index fund and USO a commodity futures fund, and over the year to Oct 28, 2026, USO returned +133.3% against +14.1%.

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Net assets: $18.7bn on Oct 27, 2026 for Invesco S&P 500 Quality ETF, and $1.9bn on Oct 28, 2026 for United States Oil Fund, LP.

SPHQ on its own →USO on its own →
At a glance
+14.1%
SPHQ total return, 1 year
+133.3%
USO total return, 1 year
0.15%
SPHQ expense ratio
0.86%
USO expense ratio

Pair scorecard

SPHQ costs 0.71 points a year less; their one-year returns differ by 119.2 points; SPHQ is 9.8 times larger.

SPHQ vs USO: Differences, Returns & Fees
MeasureSPHQUSO
Return
Total return, 1 year+14.1%+133.3%
Drawdown
Below its high6.4%, high on Jun 30, 202682.3%, high on Jul 14, 2008
Benchmark
What it tracksS&P 500 Quality IndexOil futures
Cost and size
Expense ratio0.15%0.86%
Net assets, as of Oct 27, 2026$18.7bn$1.9bn
Holdings
Holdings in commonnot published
In the S&P 500, by weight100%
Top ten holdings, share of the fund43.3%

Method

Side by side

SPHQ Invesco S&P 500 Quality ETF USO United States Oil Fund, LP
Where it sits Stock ETF Commodity ETF
Issuer Invesco USCF
What it is Tracks the S&P 500 Quality Holds oil futures
Total return, 1 year +14.1% +133.3%
Its benchmark over the same days +13.7% (IVV) not measured
Gap to its benchmark +0.4 pts vs IVV not measured
Expense ratio 0.15% 0.86%
Holdings 102 not counted
Net assets, SPHQ as of Oct 27, 2026 and USO as of Oct 28, 2026 $18.7bn $1.9bn

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

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About each fund
SPHQ

SPHQ tracks the S&P 500 Quality. Over the year to Oct 28, 2026 it returned +14.1% with distributions reinvested, against +13.7% for its benchmark, the S&P 500 Index. The prospectus expense ratio is 0.15% 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 102 positions, with the top ten at 43.3%. It sat 6.4% below its high of Jun 30, 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, SPHQ or USO?
In the year to Oct 28, 2026, with distributions reinvested, SPHQ returned +14.1% and USO +133.3%.
Which is cheaper, SPHQ or USO?
SPHQ is cheaper, by 0.71 percentage points a year. That is about $71 on $10,000 held for a year. Fees come from each fund's prospectus.
Other comparisons
BWET vs SPHQGLDM vs SPHQIAU vs SPHQGLD vs SPHQDFUS vs USODGRW vs USOAVUS vs USORDVY vs USO
Where to next
SPHQ on its own →USO on its own →Hold both: look the portfolio through →Rankings →SPHQ dividend history →SPHQ holdings →Standards and sources →
Sources and dates
SPHQ filings on SEC EDGAR ↗
SPHQ prospectus with the expense ratio (SEC) ↗
Invesco page for SPHQ ↗
USCF website ↗

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

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

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