United States Oil Fund (USO) Operating Expenses (2009 - 2026)
United States Oil Fund's (USO) quarterly Operating Expenses came in at $3.4 million in Q2 2026, up 61.44% year-over-year from $2.1 million in Q2 2025, and up 30.3% quarter-over-quarter from $2.6 million in Q1 2026.
Analysis
United States Oil Fund (USO) Operating Expenses (2009 - 2026) Analysis & Trends
United States Oil Fund (USO) has reported Operating Expenses for 18 consecutive years, with $3.4 million the latest figure, recorded in Q2 2026.
- On a quarterly basis, Operating Expenses rose 61.44% year-over-year to $3.4 million in Q2 2026; TTM through Jun 2026 was $10.3 million, a 9.17% increase from a year earlier, with the FY2025 full-year figure at $8.5 million, down 21.69% from the prior year.
- Operating Expenses was $3.4 million for Q2 2026 at United States Oil Fund, up from $2.6 million in the prior quarter.
- Over five years, Operating Expenses peaked at $4.5 million in Q1 2022 and troughed at $2.1 million in Q3 2025.
- A 5-year average of $2.9 million and a median of $2.7 million in 2023 frame the typical range for Operating Expenses.
- Across the five-year window, Operating Expenses plunged 41.01% in 2022 and surged 61.44% in 2026, its largest moves.
- Over 5 years, Operating Expenses stood at $3.5 million in 2022, then dropped by 15.31% to $2.9 million in 2023, then decreased by 13.84% to $2.5 million in 2024, then slipped by 16.11% to $2.1 million in 2025, then soared by 62.19% to $3.4 million in 2026.
- The last three Operating Expenses figures came in at $3.4 million (Q2 2026), $2.6 million (Q1 2026), and $2.1 million (Q4 2025), per Business Quant data.
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Opex (Qtr) |
|---|---|---|---|---|---|
| 1 | BlackRock | 169.89 Bn | 156.02 Bn | - | 4.62 Bn |
| 2 | Spdr Gold Trust | 144.81 Bn | -413.20 Bn | - | 149.76 Mn |
| 3 | Ishares Gold Trust | 30.30 Bn | -29.81 Bn | - | 43.37 Mn |
| 4 | World Gold Trust | 29.28 Bn | -73.79 Bn | - | 7.55 Mn |
| 5 | Principal Financial | 24.84 Bn | -28.13 Bn | 1.91 Bn | 3.41 Bn |
| 6 | iShares Silver Trust | 22.15 Bn | -6.05 Bn | - | 44.44 Mn |
| 7 | Franklin Resources | 17.84 Bn | 14.12 Bn | - | 2.14 Bn |
| 8 | Invesco | 14.63 Bn | 13.72 Bn | 1.79 Bn | 1.46 Bn |
| 9 | Affiliated Managers | 9.51 Bn | 9.10 Bn | - | 486.70 Mn |
| 10 | United States Oil Fund | 2.15 Bn | 800.11 Mn | - | 3.44 Mn |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 3.44 Mn |
| Mar 31, 2026 | 2.64 Mn |
| Dec 31, 2025 | 2.12 Mn |
| Sep 30, 2025 | 2.10 Mn |
| Jun 30, 2025 | 2.13 Mn |
| Mar 31, 2025 | 2.10 Mn |
| Dec 31, 2024 | 2.53 Mn |
| Sep 30, 2024 | 2.68 Mn |
| Jun 30, 2024 | 2.72 Mn |
| Mar 31, 2024 | 2.87 Mn |
| Dec 31, 2023 | 2.94 Mn |
| Sep 30, 2023 | 2.64 Mn |
| Jun 30, 2023 | 2.75 Mn |
| Mar 31, 2023 | 2.82 Mn |
| Dec 31, 2022 | 3.47 Mn |
| Sep 30, 2022 | 3.51 Mn |
| Jun 30, 2022 | 3.99 Mn |
| Mar 31, 2022 | 4.50 Mn |
| Dec 31, 2021 | 5.11 Mn |
| Sep 30, 2021 | 5.63 Mn |