Performance data is updated to 31 May 2026.
Crude Oil Index Currency Hedged Complex ETF (OOO) — Review & Analysis
OOO tracks the Bloomberg WTI Crude Oil Total Return Index — exposure to WTI crude oil futures rather than physical oil. AUM is $301.65 million with a 1.29% p.a. management fee, the highest in the commodities ETF universe. The fund is currency-hedged to AUD. Compare OOO against the broader commodity complex on our commodities and resources ETF page.
The mechanics of OOO matter more than they do for physical-backed ETFs. Crude oil futures must be rolled monthly — when the forward curve is in contango (longer-dated futures higher than near-dated), rolling produces a structural drag on returns called negative roll yield.
Over multi-year periods, OOO has historically underperformed spot oil prices because of this drag. The closest equity-based alternative is FUEL (Betashares Global Energy Companies), which holds oil and gas producers rather than futures contracts.
OOO is generally a tactical tool rather than a buy-and-hold position — used to express a short-term directional view on the oil price. Long-term holders are typically better served by energy equity exposure. Our hold vs trade ETFs guide covers the distinction between strategic and tactical ETF positions.
Performance (% return)
Investment Focus
Themes
Exposure Regions
Portfolio Breakdown
| Sector | % assets |
|---|---|
| Crude Oil | 100% |
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Last updated: January 2026
