Not all oil ETFs have been stung by outflows. For example, the United States 12 Month Oil Fund (NYSEArca: USL) and the United States Brent Oil Fund (NYSEArca: BNO) have attracted a combined $15.2 million in fresh investments this month.
USL is less volatile than USO because its net asset value reflect changes of the price of WTI Crude Oil delivered to Cushing Oklahoma as measured by changes in percentage terms of the price of an average of the next 12 month’s WTI. USL is up 10.4% this month.
Some investors are going the opposite, betting that oil has run too far too fast with inverse oil funds. For example, the ProShares UltraShort Bloomberg Crude Oil (NYSEArca: SCO) and the VelocityShares 3x Inverse Crude (NYSEArca: DWTI) have seen combined April inflows of $181 million.
United States Oil Fund
