Additionally, U.S. Brent Oil (NYSEArca: BNO) provides unique exposure to changes in Brent crude oil via a futures structure.
Two newer funds to the oil space are Teucrium WTI Crude Oil ETF (NYSEArca: CRUD), which listed in February of this year and invests in Nymex light sweet crude futures, as well as iPath Pure Beta Crude Oil (NYSEArca: OLEM), which tracks a WTI Crude based index and aims to also mitigate the potential effects of contango by not following a pre-determined roll schedule.
As noted, crude oil funds have fallen rather sharply year to date, and all are trading notably below both their 50 and 200 day moving averages. However, the recent bounce from the lows on good volumes suggest that some institutional investors may be looking for an opportunity to go long in the commodity heading into year’s end.
From a year to date standpoint, the performance in the funds mentioned is as follows: BNO, +10.33%, DBO -17.60%, USL -17.69%, USO -20.92%, and OIL -21.62% (we have excluded CRUD and OLEM since both funds debuted after the first of the year in 2011).
U.S. Brent Oil
Chart source: StockCharts.com.
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