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Data as of Oct 28, 2026.

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SPMO vs USO: Differences, Returns & Fees

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SPMO is an equity index fund and USO a commodity futures fund, and over the year to Oct 28, 2026, USO returned +133.3% against +18.4%.

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Net assets: $22.3bn on Oct 27, 2026 for Invesco S&P 500 Momentum ETF, and $1.9bn on Oct 28, 2026 for United States Oil Fund, LP.

SPMO on its own →USO on its own →
At a glance
+18.4%
SPMO total return, 1 year
+133.3%
USO total return, 1 year
0.13%
SPMO expense ratio
0.86%
USO expense ratio

Pair scorecard

SPMO costs 0.73 points a year less; their one-year returns differ by 114.9 points; SPMO is 11.7 times larger.

SPMO vs USO: Differences, Returns & Fees
MeasureSPMOUSO
Return
Total return, 1 year+18.4%+133.3%
Drawdown
Below its high10.2%, high on Jun 22, 202682.3%, high on Jul 14, 2008
Benchmark
What it tracksS&P 500 Momentum IndexOil futures
Cost and size
Expense ratio0.13%0.86%
Net assets, as of Oct 27, 2026$22.3bn$1.9bn
Holdings
Holdings in commonnot published
In the S&P 500, by weight100%
Top ten holdings, share of the fund50.7%

Method

Side by side

SPMO Invesco S&P 500 Momentum 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 Momentum Holds oil futures
Total return, 1 year +18.4% +133.3%
Its benchmark over the same days +13.7% (VOO) not measured
Gap to its benchmark +4.7 pts vs VOO not measured
Expense ratio 0.13% 0.86%
Holdings 101 not counted
Net assets, SPMO as of Oct 27, 2026 and USO as of Oct 28, 2026 $22.3bn $1.9bn

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

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About each fund
SPMO

SPMO tracks the S&P 500 Momentum. Over the year to Oct 28, 2026 it returned +18.4% with distributions reinvested, against +13.7% for its benchmark, the S&P 500 Index. The prospectus expense ratio is 0.13% 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 101 positions, with the top ten at 50.7%. It sat 10.2% below its high of Jun 22, 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, SPMO or USO?
In the year to Oct 28, 2026, with distributions reinvested, SPMO returned +18.4% and USO +133.3%.
Which is cheaper, SPMO or USO?
SPMO is cheaper, by 0.73 percentage points a year. That is about $73 on $10,000 held for a year. Fees come from each fund's prospectus.
Other comparisons
BWET vs SPMOGLD vs SPMOSIVR vs SPMOSLV vs SPMOCGGR vs USOGRNY vs USOIVV vs USODFUS vs USO
Where to next
SPMO on its own →USO on its own →Hold both: look the portfolio through →Rankings →SPMO dividend history →SPMO holdings →Standards and sources →
Sources and dates
SPMO filings on SEC EDGAR ↗
SPMO prospectus with the expense ratio (SEC) ↗
Invesco page for SPMO ↗
USCF website ↗

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

Cite this pageCitation, APA and Markdown

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

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