Investing in oil is typically reserved for advanced commodity traders — if you're trying to invest in the commodity itself.
But if you're just looking to gain exposure to oil, and to perhaps try to profit from its big swings, oil exchange-traded funds may be a better approach. Many have seen high returns amid the current conflict in the Middle East, which has pushed the global market price of a barrel of oil above $100 several times in 2026 — most recently in September.
What are oil ETFs?
Oil ETFs are baskets of securities that either track the price of oil as a commodity or contain oil stocks. Oil ETFs give investors easy access to a commodity that’s difficult to own and store. But oil prices can swing drastically in either direction and can be closely correlated to global and geopolitical events, making it a complex and often risky investment.
» Want to know more? Learn how to invest in oil
Oil ETF performance
The oil ETFs we track are commodities ETFs, meaning they track the price of oil through benchmarks such as the Brent Crude Oil or West Texas Intermediate benchmarks. These categories of ETFs do not hold oil company stocks. Our screen also may include oil ETNs (more on that below).
In late February 2026, the U.S. and Israel launched a series of strikes against Iran, citing concerns about its nuclear weapons program. Iran has retaliated by launching missiles and drones at more than a dozen Middle Eastern countries that it perceives as Western-aligned.
Five out of the twelve member states of the Organization of the Petroleum Exporting Countries (OPEC) have been attacked by one side or the other in the conflict, and major oil shipping routes, such as the Strait of Hormuz, have been closed to commercial traffic, causing oil prices to jump upward. This has pulled up the returns of many oil ETFs.
The best-performing oil & gasoline ETF by one-year return is United States Oil Fund (USO), which is up 99.99%. | ||||
|---|---|---|---|---|
Ticker | Company | Performance (Year) | ||
USO | United States Oil Fund | 99.99% | ||
DBO | Invesco DB Oil Fund | 85.02% | ||
OILK | ProShares K-1 Free Crude Oil ETF | 38.94% | ||
Source: Finviz. Data is current as of October 1, 2026, and is intended for informational purposes only. | ||||
» Curious about oil stocks? Explore how to buy oil stocks
What are oil ETNs?
Oil ETNs, or exchange-traded notes, are similar to oil ETFs in that they are both traded on securities exchanges and can be bought and sold throughout the trading day, similar to stocks. A major difference between ETFs and ETNs is that ETFs are investment companies registered by the U.S. Securities and Exchange Commission, and ETFs actually own the underlying assets that you, as an investor, own a part of. ETNs do not own an underlying portfolio of assets, and instead are made up of unsecured debt obligations. ETNs are generally considered riskier investments than ETFs.
» Ready to get started? Check out the best brokers for ETF investors
Other related ETFs:
Article sources
- 1.Office of Energy Efficiency & Renewable Energy. A Brief History of Oil Prices and Vehicle Technologies. Accessed Mar 14, 2022.
- 2.U.S. Securities and Exchange Commission. Investor Bulletin: Exchange Traded Notes (ETNs). Accessed Mar 14, 2022.
