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

In the year to Oct 28, 2026, with distributions reinvested, USMV returned +10.8% and USO +133.3%.

Which is cheaper, USMV or USO?

USMV 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.

Data as of Oct 28, 2026.

Across categories

USMV vs USO: Differences, Returns & Fees

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USMV is an equity index fund and USO a commodity futures fund, and over the year to Oct 28, 2026, USO returned +133.3% against +10.8%.

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Net assets: $24.1bn on Oct 27, 2026 for iShares MSCI USA Min Vol Factor ETF, and $1.9bn on Oct 28, 2026 for United States Oil Fund, LP.

USMV on its own →USO on its own →

At a glance

+10.8%

USMV total return, 1 year

+133.3%

USO total return, 1 year

0.15%

USMV expense ratio

0.86%

USO expense ratio

Pair scorecard

USMV costs 0.71 points a year less; their one-year returns differ by 122.5 points; USMV is 12.7 times larger.

USMV vs USO: Differences, Returns & Fees
Measure	USMV	USO
Return
Measure	USMV	USO
Total return, 1 year	+10.8%	+133.3%
Drawdown
Measure	USMV	USO
Below its high		82.3%, high on Jul 14, 2008
Benchmark
Measure	USMV	USO
What it tracks	MSCI USA Minimum Volatility (USD) Index	Oil futures
Cost and size
Measure	USMV	USO
Expense ratio	0.15%	0.86%
Net assets, as of Oct 27, 2026	$24.1bn	$1.9bn
Holdings
Measure	USMV	USO
Holdings in common	not published
In the S&P 500, by weight	93%
Top ten holdings, share of the fund	14.8%

Method

Side by side

USMV iShares MSCI USA Min Vol Factor ETF USO United States Oil Fund, LP

Where it sits Stock ETF Commodity ETF

Issuer iShares USCF

What it is Tracks the MSCI USA Min Vol Factor Holds oil futures

Total return, 1 year +10.8% +133.3%

Expense ratio 0.15% 0.86%

Holdings 176 not counted

Net assets, USMV as of Oct 27, 2026 and USO as of Oct 28, 2026 $24.1bn $1.9bn

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

Alert

About each fund

USMV

USMV tracks the MSCI USA Min Vol Factor. Over the year to Oct 28, 2026 it returned +10.8% with distributions reinvested. The prospectus expense ratio is 0.15% a year. By its holdings published by its issuer for Oct 27, 2026, 93% of the fund by weight is stocks the S&P 500 also holds, across 176 positions, with the top ten at 14.8%.

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, USMV or USO?: In the year to Oct 28, 2026, with distributions reinvested, USMV returned +10.8% and USO +133.3%.
Which is cheaper, USMV or USO?: USMV 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 USMV GLD vs USMV SIVR vs USMV SLV vs USMV RDVY vs USO CGGR vs USO SPMO vs USO MTUM vs USO

Where to next

USMV on its own →USO on its own →Hold both: look the portfolio through →Rankings →USMV dividend history →USMV holdings →Standards and sources →

Sources and dates

USMV filings on SEC EDGAR ↗

USMV prospectus with the expense ratio (SEC) ↗

iShares page for USMV ↗

USCF website ↗

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

Cite this pageCitation, APA and Markdown

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

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