Key stats
About UNITED STATES OIL FUND LP
Expense ratio
0.60%
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Inception date
Apr 10, 2006
USO delivers its exposure to oil using near-term futures. USO gets exposure to oil using derivatives, like several oil ETPs. The fund predominately holds near-month-futures contracts on WTI, rolling into future contracts every month. This method is particularly sensitive to short-term changes in spot prices. USO held front month contracts until April 17, 2020, at which time following leeway in the prospectus, USO changed the exposure from holding specifically front-month contracts to holding predominantly front-month contracts, 30% next month and 15% contracts with further expiry. USO is structured as a commodities pool, so expect a K-1 at tax time. Long-term holders will be taxed on any gains even if they didn't sell shares.
Classification
What's in the fund
Exposure type
Cash
Futures
Bonds, Cash & Other100.00%
Cash57.13%
Futures42.49%
Miscellaneous0.38%
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