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United States Oil vs. Oil Services ETF

Brian Hicks

Written By Brian Hicks

Posted August 18, 2009

Every once in a while we like to take a look at a comparative chart of a couple of exchange-traded funds that represent energy trends or plays. This week, let’s consider two linked—but not identical—ETFs…

The United States Oil Fund (NYSE:USO) and Oil Services HOLDRS Trust (AMEX:OIH).

USO tracks oil price movement, and the oil services ETF runs with the performance of a basket of rig makers, oil drill implement companies, and associated firms that serve essential functions to getting black gold out of the earth.


As you see, the commodity-based USO outperforms OIH with few exceptions. Even on dips, OIH essentially becomes technical support for USO. We can attribute this to the USO’s more direct correlation to oil prices and the fact that OIH is tempered by the performance of component companies.

OIH top holdings include Baker Hughes (NYSE:BHI), Schlumberger (NYSE:SLB), and Halliburton (NYSE:HAL).

Average daily trading volume for USO exceeds OIH average by nearly 6 million shares (14 million to 8 million).

You can read about more energy ETFs, including clean energy powerhouse PZD, here:


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