Data as of Oct 28, 2026.

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USO vs VB: Differences, Returns & Fees

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USO is a commodity futures fund and VB an equity index fund, and over the year to Oct 28, 2026, USO returned +133.3% against +14.4%.

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Net assets: $1.9bn on Oct 28, 2026 for United States Oil Fund, LP, and $76.9bn on Sep 30, 2026 for Vanguard Morningstar Small-Cap ETF.

At a glance
+133.3%
USO total return, 1 year
+14.4%
VB total return, 1 year
0.86%
USO expense ratio
0.03%
VB expense ratio

Pair scorecard

VB costs 0.83 points a year less; their one-year returns differ by 118.9 points.

USO vs VB: Differences, Returns & Fees
MeasureUSOVB
Return
Total return, 1 year+133.3%+14.4%
Drawdown
Below its high82.3%, high on Jul 14, 20085.7%, high on Aug 14, 2026
Benchmark
What it tracksOil futuresMorningstar US Small Cap Index
Cost and size
Expense ratio0.86%0.03%
Net assets, USO as of Oct 28, 2026 and VB as of Sep 30, 2026$1.9bn$76.9bn
Holdings
Holdings in commonnot published
In the S&P 500, by weight22%
Top ten holdings, share of the fund5.9%

Method

Side by side

USO United States Oil Fund, LP VB Vanguard Morningstar Small-Cap ETF
Where it sits Commodity ETF Stock ETF
Issuer USCF Vanguard
What it is Holds oil futures Tracks an index of Small-Cap
Total return, 1 year +133.3% +14.4%
Expense ratio 0.86% 0.03%
Holdings not counted 1303
Net assets, USO as of Oct 28, 2026 and VB as of Sep 30, 2026 $1.9bn $76.9bn

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

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About each fund
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.

VB

VB tracks an index of Small-Cap. Over the year to Oct 28, 2026 it returned +14.4% with distributions reinvested. The prospectus expense ratio is 0.03% a year. By its holdings published by its issuer as of Sep 30, 2026, 22% of the fund by weight is stocks the S&P 500 also holds, across 1,303 positions, with the top ten at 5.9%. It sat 5.7% below its high of Aug 14, 2026 on Oct 28, 2026.

Questions people ask

Which returned more over the last year, USO or VB?
In the year to Oct 28, 2026, with distributions reinvested, USO returned +133.3% and VB +14.4%.
Which is cheaper, USO or VB?
VB is cheaper, by 0.83 percentage points a year. That is about $83 on $10,000 held for a year. Fees come from each fund's prospectus.
Other comparisons
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ETFIQ, USO against VB, data as of Oct 28, 2026. https://etfiq.com/compare/any/uso-vs-vb

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