OIH ETF: What Is It? — Returns, Expense Ratio, Holdings & Alternative ETFs
A sector ETF that concentrates on the top 25 oil services companies. It has high sensitivity to crude oil prices and a relatively high concentration in top holdings.
SubscribeWhat Is This ETF?
It tracks the MVIS US Listed Oil Services 25 Index and concentrates investment in 25 US-listed oil services companies. The sector portfolio spans drilling, well equipment, and oilfield services.
It is suited to investors seeking concentrated exposure to the energy services sector and preferring investments weighted toward large-cap names within the sector.
The passively managed (index-tracking) ETF was launched by VanEck in 2001.
How Does It Invest?
| Item | Details |
|---|---|
| Tracking Index | MVIS US Listed Oil Services 25 Index |
| Management Style | Passive (index tracking) |
| Number of Holdings | 25 |
| Dividend Frequency | Annual |
| Total Expense Ratio | 0.35% |
The ETF holds the top 25 US-listed oil services companies using a market-cap-weighted methodology. It covers the full upstream energy services chain, including drilling, well completion, and equipment provision. As a non-diversified fund, its top-holding concentration runs higher than the category average.
- Concentrated composition of 25 large-cap names within the energy services sector
- Non-diversified design, with top holdings accounting for more than half of the portfolio
Size and Cost
Assets under management (AUM) stand at $2.0B, with a total expense ratio of 0.35% annually.
The expense ratio is somewhat higher than peer-category ETFs such as XOP and IEO, but the portfolio composition differs from broad energy ETFs given its specialized upstream energy services exposure.
Performance and Flows
1-Year Price Performance
Dividend & Yield
52-Week Price RangeThe fund exhibits high sensitivity to international crude oil prices, with relative returns tending to be solid during oil-friendly market phases. Reflecting the characteristics of the energy services sector, volatility is notably higher than that of broad energy ETFs.
Fund flows tend to be driven by the crude oil price outlook and the level of drilling activity. Demand for the sector tends to rise when the international energy demand outlook is positive.
Strengths and Weaknesses
The fund serves as a vehicle for concentrated investment in the energy services sector, with high oil-price sensitivity and an expense ratio that runs above the level of broad energy ETFs.
💪 Key Strengths
⚠️ Points to Watch
Alternative ETFs and Related Products
The XOP shown in the table is a broad energy ETF covering exploration and production companies overall, while IEO has a higher weighting toward mid- and small-cap energy names, giving it a different portfolio composition. IEZ can be considered for investors who want a similarly services-sector focus as OIH but with broader diversification. For broad exposure across the energy sector, XLE is an alternative, while ERX is an option for those seeking leveraged access.
Peer Comparison ETFs| Ticker | Name | Price | Change | AUM | Total Expense Ratio | Dividend Yield | 1Y |
|---|---|---|---|---|---|---|---|
 XOP | State Street SPDR S&P Oil & Gas Exploration & Production ETF | $203.76 | +2.1% | $4.6B | 0.35% | 1.53% | +61.9% |
 FTXN | First Trust Nasdaq Oil & Gas ETF | $43.47 | +1.9% | $1.2B | 0.60% | 1.65% | +59.8% |
 IEO | iShares U.S. Oil & Gas Exploration & Production ETF | $151.13 | +2.4% | $914.6M | 0.37% | 1.45% | +70.5% |
 SGDM | Sprott Gold Miners ETF | $64.86 | -5.2% | $598.0M | 0.46% | 1.12% | +9.8% |
 IEZ | iShares U.S. Oil Equipment & Services ETF | $28.33 | +0.8% | $399.1M | 0.37% | 1.16% | +37.2% |
Top Holdings| Ticker | Name | Weight | Price | Change | Market Cap | P/E | Dividend Yield |
|---|---|---|---|---|---|---|---|
| SLB | SLB Ltd | 0.39% | $53.74 | -0.1% | $79.3B | 26.2 | 2.19% |
| BKR | Baker Hughes Co | 0.24% | $55.23 | +1.3% | $54.8B | 19.0 | 1.69% |
| HAL | Halliburton Co | 0.14% | $36.17 | +0.8% | $29.9B | 15.1 | 1.89% |
| FTI | TechnipFMC plc | 0.13% | $68.77 | +2.7% | $27.0B | 21.7 | 0.37% |
 SEI | Solaris Energy Infrastructure Inc | 0.05% | $70.70 | +2.3% | $5.7B | 89.8 | 0.68% |
| TS | Tenaris SA ADR | 0.05% | $60.31 | -1.6% | $32.3B | 16.1 | 4.15% |
Investor Checklist
Items to check before investing in OIH. Given the characteristics of a sector-concentrated ETF, it is important to review the oil price and drilling activity cycle, the expense ratio, and top-holding concentration in advance.
| Checkpoint | What to Confirm | Current Status |
|---|---|---|
| 🛢️ Crude Oil Price Direction | Outlook for international crude oil prices and energy drilling activity | Varies with market conditions |
| 💵 Total Expense Ratio | Cost comparison with broad energy ETFs | Needs review |
| 📊 Top-Holding Concentration | Trend in the weight of the top 3 holdings within the portfolio | Relatively high concentration |
| 💱 FX | Impact on USD-denominated returns | No currency hedging applied |
The sector can decline in unison during oil price downturns or phases of energy capex contraction. The high top-holding concentration means an earnings shock at a specific large-cap name can affect the entire portfolio.
The fund is a suitable vehicle for investors who want concentrated exposure to the oilfield services sector. For broad energy exposure, XOP or XLE are alternatives, while IEZ is an alternative for those seeking broader composition within energy services.
SubscribeDisclaimer: This content is for informational purposes only and does not constitute investment advice. All investment responsibility lies with the investor.
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