United States Oil Fund (USO)
Top ETFs · Oil · data since 2006-04-10 · last close 2026-09-09
United States Oil Fund (USO) monthly returns (%)
| Year | Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | 15.0 | 3.1 | 55.3 | 15.6 | -12.2 | -17.6 | 21.4 | 3.5 | 12.2 | · | · | · |
| 2025 | 3.3 | -3.6 | 2.8 | -17.8 | 5.7 | 8.9 | 8.9 | -6.0 | -1.5 | -1.6 | -2.0 | -2.7 |
| 2024 | 6.4 | 3.4 | 7.3 | -0.4 | -4.5 | 6.4 | -2.3 | -4.4 | -6.0 | 4.5 | -2.0 | 5.5 |
| 2023 | -1.1 | -3.0 | -1.1 | 1.6 | -10.2 | 4.8 | 15.1 | 2.6 | 7.7 | -7.2 | -6.5 | -5.0 |
| 2022 | 14.9 | 8.0 | 9.8 | 4.1 | 10.8 | -6.0 | -2.9 | -6.3 | -10.7 | 9.6 | -1.8 | -0.2 |
| 2021 | 6.6 | 17.4 | -1.9 | 6.8 | 5.0 | 9.8 | 1.6 | -5.2 | 9.4 | 8.7 | -16.2 | 13.5 |
| 2020 | -15.4 | -12.8 | -55.5 | -43.2 | 35.4 | 8.4 | 3.6 | 5.2 | -7.5 | -10.8 | 22.6 | 6.6 |
| 2019 | 17.5 | 5.3 | 4.6 | 6.3 | -16.5 | 8.5 | 0.0 | -4.8 | -1.1 | -0.3 | 2.8 | 10.2 |
| 2018 | 8.1 | -4.7 | 5.8 | 5.4 | -1.8 | 11.1 | -5.2 | 3.0 | 5.5 | -11.2 | -22.2 | -10.0 |
| 2017 | -3.4 | 1.1 | -7.1 | -3.8 | -2.7 | -4.6 | 8.2 | -6.3 | 8.3 | 4.8 | 4.9 | 4.7 |
| 2016 | -12.3 | -6.7 | 7.8 | 16.5 | 5.0 | -2.5 | -15.6 | 6.2 | 5.5 | -3.7 | 3.8 | 7.2 |
| 2015 | -12.5 | 1.6 | -7.0 | 21.8 | -1.0 | -2.1 | -21.6 | 1.9 | -7.6 | 0.9 | -12.7 | -14.9 |
| 2014 | -1.5 | 5.6 | -0.4 | -0.7 | 3.7 | 3.2 | -6.6 | -1.5 | -3.8 | -11.0 | -16.5 | -20.4 |
| 2013 | 5.7 | -6.3 | 5.1 | -4.6 | -1.7 | 4.8 | 9.3 | 3.0 | -4.2 | -5.9 | -3.5 | 5.6 |
| 2012 | -0.8 | 8.2 | -4.1 | 1.1 | -17.8 | -2.4 | 2.7 | 9.8 | -4.9 | -6.9 | 2.5 | 2.5 |
| 2011 | -1.0 | 1.5 | 8.7 | 6.0 | -10.3 | -8.1 | 0.5 | -7.8 | -11.7 | 17.2 | 8.5 | -1.7 |
| 2010 | -9.3 | 8.9 | 3.8 | 2.6 | -17.6 | -0.2 | 4.1 | -9.7 | 9.2 | 0.9 | 2.5 | 8.2 |
| 2009 | -11.7 | -7.4 | 7.4 | -1.4 | 27.1 | 4.2 | -3.0 | -2.1 | 0.4 | 8.7 | -0.4 | 0.3 |
| 2008 | -4.5 | 11.2 | 1.2 | 13.7 | 11.4 | 10.3 | -12.0 | -7.1 | -11.7 | -32.2 | -24.3 | -21.4 |
| 2007 | -6.5 | 6.1 | 4.2 | -4.0 | -4.5 | 8.3 | 10.4 | -4.7 | 12.1 | 17.1 | -4.6 | 8.4 |
| 2006 | · | · | · | 2.4 | -2.7 | 3.0 | -0.4 | -6.8 | -12.0 | -8.6 | 4.8 | -5.5 |
| Avg | -0.1 | 1.8 | 2.3 | 1.3 | 0.0 | 2.3 | 0.8 | -1.8 | -0.6 | -1.3 | -3.0 | -0.5 |
Values in %. Current and first-listed months are partial (greyed).
returnsview.com
USO seasonality — average by calendar month
United States Oil Fund has monthly history back to 2006. Its strongest month by median is June — positive in 13 of 21 years, median +4.2%, and higher in 7 of the last 9. August is the soft spot, down in 13 of 21 with a median of -4.4%. Across its full record it has closed 50% of months higher, swings ±10.9% in an average month and has fallen 98.2% peak to trough.
| Month | Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Avg | -0.1% | +1.8% | +2.3% | +1.3% | +0.0% | +2.3% | +0.8% | -1.8% | -1.2% | -1.3% | -3.0% | -0.5% |
| Win rate | 40%/20 | 65%/20 | 65%/20 | 62%/21 | 38%/21 | 62%/21 | 52%/21 | 38%/21 | 40%/20 | 45%/20 | 40%/20 | 55%/20 |
Win rate = share of positive months / sample size.
USO risk & extremes
USO drawdown & rolling returns
Percent below the all-time high at each month-end — how far underwater the asset was.
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Frequently asked questions
What was United States Oil Fund's best month?+
United States Oil Fund's strongest completed month on record is March 2026, at +55.28%.
What was United States Oil Fund's worst month?+
Its weakest completed month on record is March 2020, at -55.45%.
Is United States Oil Fund up this year?+
United States Oil Fund is up 116.84% year to date, measured from its last close before 1 January.
What is United States Oil Fund's 1-year return?+
+104.35% over the past twelve months, comparing the latest close with the most recent close on or before the same date a year earlier.
What is United States Oil Fund's biggest drawdown?+
The deepest peak-to-trough fall on record is 98.2%, measured on month-end closes since 2006.
Which calendar month is historically best for United States Oil Fund?+
March has the highest average return across every completed March since 2006. An average is not a forecast.
About United States Oil Fund
United States Oil Fund is an oil business worth about $2 billion. It digs up ancient sunlight and sells it by the barrel — with price receipts on this site going back to 2006. Since 2006 it is down 76% overall — surviving is its own genre of awesome.
Did you know?
- Its best month on record was March 2026 at +55.28%; its worst, March 2020 at -55.45%.
Trivia for entertainment — the numbers come from our price data; the jokes don't.