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

In the year to Oct 28, 2026, with distributions reinvested, USO returned +133.3% and VWO +4.8%.

Which is cheaper, USO or VWO?

VWO is cheaper, by 0.80 percentage points a year. That is about $80 on $10,000 held for a year. Fees come from each fund's prospectus.

Data as of Oct 28, 2026.

Across categories

USO vs VWO: Differences, Returns & Fees

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USO is a commodity futures fund and VWO an equity index fund, and over the year to Oct 28, 2026, USO returned +133.3% against +4.8%.

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Net assets: $1.9bn on Oct 28, 2026 for United States Oil Fund, LP, and $125.4bn on Sep 30, 2026 for Vanguard FTSE Emerging Markets ETF.

USO on its own →VWO on its own →

At a glance

+133.3%

USO total return, 1 year

+4.8%

VWO total return, 1 year

0.86%

USO expense ratio

0.06%

VWO expense ratio

Pair scorecard

VWO costs 0.80 points a year less; their one-year returns differ by 128.5 points.

USO vs VWO: Differences, Returns & Fees
Measure	USO	VWO
Return
Measure	USO	VWO
Total return, 1 year	+133.3%	+4.8%
Drawdown
Measure	USO	VWO
Below its high	82.3%, high on Jul 14, 2008	7.0%, high on Sep 4, 2026
Benchmark
Measure	USO	VWO
What it tracks	Oil futures	FTSE Emerging Markets All Cap China A Inclusion Index
Cost and size
Measure	USO	VWO
Expense ratio	0.86%	0.06%
Net assets, USO as of Oct 28, 2026 and VWO as of Sep 30, 2026	$1.9bn	$125.4bn
Holdings
Measure	USO	VWO
Holdings in common	not published
In the S&P 500, by weight		0%
Top ten holdings, share of the fund		29.8%

Method

Side by side

USO United States Oil Fund, LP VWO Vanguard FTSE Emerging Markets ETF

Where it sits Commodity ETF Stock ETF

Issuer USCF Vanguard

What it is Holds oil futures Tracks an index of Emerging markets

Total return, 1 year +133.3% +4.8%

Expense ratio 0.86% 0.06%

Holdings not counted 6515

Net assets, USO as of Oct 28, 2026 and VWO as of Sep 30, 2026 $1.9bn $125.4bn

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

Alert

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.

VWO

VWO tracks an index of Emerging markets. Over the year to Oct 28, 2026 it returned +4.8% with distributions reinvested. The prospectus expense ratio is 0.06% a year. By its holdings published by its issuer as of Sep 30, 2026, 0% of the fund by weight is stocks the S&P 500 also holds, across 6,515 positions, with the top ten at 29.8%. It sat 7.0% below its high of Sep 4, 2026 on Oct 28, 2026.

Questions people ask

Which returned more over the last year, USO or VWO?: In the year to Oct 28, 2026, with distributions reinvested, USO returned +133.3% and VWO +4.8%.
Which is cheaper, USO or VWO?: VWO is cheaper, by 0.80 percentage points a year. That is about $80 on $10,000 held for a year. Fees come from each fund's prospectus.

Other comparisons

IEMG vs USO EEM vs USO AVEM vs USO EMXC vs USO BWET vs VWO SIVR vs VWO SLV vs VWO GLDM vs VWO

Where to next

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

Sources and dates

USCF website ↗

VWO filings on SEC EDGAR ↗

VWO prospectus with the expense ratio (SEC) ↗

Vanguard page for VWO ↗

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

Cite this pageCitation, APA and Markdown

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

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Free to use with attribution for data ETFIQ computes; issuer data stays under its owner's terms.