Is OOO a good ETF?
OOO is the BetaShares Crude Oil Index Currency Hedged Complex ETF from BetaShares. It tracks the S&P GSCI Crude Oil Index. We classify it under Commodities and Active. With about $130 million in assets it is a solidly established fund.
On a total-return basis, OOO has delivered 2.17% a year over 10 years (ranked 91st of 108 ETFs we track), 16.36% a year over 5 years (ranked 11th of 188 ETFs we track), 18.11% a year over 3 years (ranked 33rd of 226 ETFs we track), and 53.35% a year over 1 year (ranked 9th of 308 ETFs we track). Its strongest showing is over 1 year, where it sits in the top 3% of all ETFs we track.
The management fee of 1.29% is high, which is common for active, geared or thematic strategies and only worth paying if the approach justifies it. For comparison, similar ETFs average around 0.85%. If cost is your priority, FUEL (0.57%) cover similar ground for less. It pays a healthy 3.81% yield, attractive if you want regular income. Bear in mind distributions are taxed each year at your marginal rate, so a high yield is less tax-efficient for higher earners and during the accumulation phase.
Over the past 10 years its volatility has been high (annualised standard deviation around 43.19%), meaning a bumpy ride with deep drawdowns. Its 10-year Sharpe ratio of 0.24 is weak — that's the return it has earned per unit of risk taken (higher is better).
Strengths
- Top-3% returns over 1 year (9th of 308 ETFs we track).
- Pays a useful 3.81% income yield.
Things to watch
- Has lagged most peers over 10 years (91st of 108).
- A 1.29% management fee is high and compounds against you over time.
- Pricier than similar ETFs, which average around 0.85%.
- Cheaper alternatives exist: FUEL.
- Weak risk-adjusted returns (10-year Sharpe ratio 0.24).
- High volatility (43.19% over 10 years) — expect deep drawdowns.
What OOO's categories mean for you
How each category this ETF belongs to tends to behave across market cycles.
Exposure to physical commodities (gold, silver, oil) or the companies that produce them. A portfolio diversifier and a classic inflation hedge.
- Market regime
- Gold in particular tends to shine during crises, high inflation and falling real interest rates. Commodities generate no yield or earnings and can trend sideways for years.
- In a portfolio
- A tactical or satellite allocation for diversification and inflation protection — not a long-term compounding engine.
Actively managed: a portfolio manager hand-picks holdings trying to beat the index, rather than simply tracking it. You pay more in fees for the chance of outperformance.
- Market regime
- Can add value in volatile, falling or inefficient markets where stock-picking and downside protection matter. In long, broad bull markets most active funds struggle to keep up with the cheap index after fees.
- In a portfolio
- Only worth holding if you have genuine conviction in the strategy — decades of evidence show the majority of active funds underperform their benchmark over 10+ years once fees are counted.
General information only, generated from the fund's published data — not personal financial advice. Past performance is not a reliable indicator of future returns. Consider your own circumstances or seek licensed advice before investing.