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OIL Fund Description
The iPath S&P GSCI Crude Oil Total Return ETN tracks an index of a single, front-month WTI crude oil futures contract.
OIL FactSet Analytics Insight
Note: The issuer has suspended creations in OIL, which can cause the note to trade at substantial premiums at times. Also, OIL is one of a handful of ETNs with path-dependent fees, meaning you could pay significantly higher holding costs than the headline expense ratio implies. Consider OILB, which tracks the same index and avoids these issues.
OIL offers straightforward oil futures exposure in an ETN wrapper. It uses the most basic method for exposure; namely, near-month futures contracts (spot oil is effectively uninvestable). OIL's index rolls expiring contracts into the next-nearest month, a method also used by rival fund USO and our benchmark. The downside of this approach is heightened sensitivity to negative roll yield when WTI oil futures are in contango. Still, this method of exposure is popular with investors. OIL's ETN wrapper means it's backed by Barclays' credit rather than futures and cash as rival commodity pool structures use. OIL investors get 1099s at tax time, not K-1s. OIL has seen significant premiums at times due to suspended creations, and is also prone to major tracking error.
OIL Top 10 Contracts
OIL Summary Data
OIL Portfolio Data
OIL Index Data
Related ETFs to OIL
OIL Portfolio Management
OIL Tax Exposures
OIL Fund Structure
OIL FactSet Analytics Block Liquidity
This measurement shows how easy it is to trade a $1 million USD block of OIL. OIL is rated a 0 out of 5.