Another option to consider is the SPDR Oil & Gas Equipment & Services ETF (NYSEArca: XES). XES noticeably differs from OIH and IEZ in that the State Street offering is an equal weight fund with a weighted average market value of $9.8 billion. That does not mean the 49 stocks found in XES are all small caps, but XES does provide an alternative to the investor looking to escape the dominance of Schlumberger and Halliburton in in traditional oil services ETFs. [Oil Services ETFs in the Groove]

The $295.5 million XES is up 4.7% in the past month. Schlumberger accounts for just 2.4% of the ETF’s weight and Halliburton is not a top-10 holding in the fund.

Market Vectors Oil Service ETF

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