Top 10 oil and gas ETFs to watch in 2026

Oil and gas ETFs hold shares in energy companies – producers, explorers and the service businesses that keep rigs running – aiming to follow the performance of energy sector indices. Most funds on this list focus on U.S. energy stocks, though iShares Global Energy ETF ($IXC) reaches into global markets and ProShares K-1 Free Crude Oil ETF ($OILK) aims to track WTI crude oil futures rather than company shares.

How we built this list: We selected these funds based on their industry or investment category and ordered them by assets under management. Prices are updated daily, and the list and supporting content are reviewed roughly every quarter. All data is sourced from Stake. This list isn't a recommendation and isn't ordered by suitability.

Past performance is not a reliable indicator of future performance.

Source: Stake market data. Figures in US$. Data updated as of 21 August 2026.

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1. State Street Energy Select Sector SPDR ETF ($XLE)

State Street Energy Select Sector SPDR ETF (XLE) share price over the last year: started at US$44.19, ended at US$63.64, a change of +44.0%. Range over the period: high US$63.75, low US$42.61. Source: Stake market data. Past performance is not a reliable indicator of future performance.

Price: US$63.64 · Daily: -0.2% · AUM: US$41.88B · MER: 0.08%

Energy sector equities are the focus of State Street Energy Select Sector SPDR ETF ($XLE), which aims to match the price and yield performance of the Energy Select Sector Index. The fund invests at least 95% of its total assets in the securities comprising that index. Any remainder may be held in cash or other instruments, though the mandate keeps $XLE predominantly in index holdings. State Street manages $XLE as part of its SPDR range of index-tracking products.

Because the fund holds equities rather than futures contracts, its performance reflects energy company share prices rather than commodity spot prices directly. $XLE follows a passive approach, replicating the index rather than selecting stocks on a manager's judgement.

2. Vanguard Energy Index Fund ($VDE)

Vanguard Energy Index Fund (VDE) share price over the last year: started at US$124.17, ended at US$179.58, a change of +44.6%. Range over the period: high US$179.72, low US$120.37. Source: Stake market data. Past performance is not a reliable indicator of future performance.

Price: US$179.58 · Daily: -0.08% · AUM: US$10.18B · MER: 0.09%

Tracking U.S. energy stocks across the full company-size range, Vanguard Energy Index Fund ($VDE) is designed to follow the MSCI U.S. Investable Market Energy Index. Large-, mid- and small-cap companies all sit within that benchmark, so the portfolio covers more than just the biggest names in U.S. oil and gas. The index focuses specifically on the energy sector, with an oil and gas orientation.

Because $VDE follows a passive index rather than picking individual stocks, the mix of holdings shifts as the index rebalances. That structure means the fund's composition reflects U.S. energy broadly, without concentrating on any single company or subsector.

3. State Street SPDR S&P Oil & Gas Expl & Prod ETF ($XOP)

State Street SPDR S&P Oil & Gas Expl & Prod ETF (XOP) share price over the last year: started at US$129.96, ended at US$189.54, a change of +45.8%. Range over the period: high US$189.54, low US$123.29. Source: Stake market data. Past performance is not a reliable indicator of future performance.

Price: US$189.54 · Daily: 1.1% · AUM: US$3.90B · MER: 0.35%

State Street SPDR S&P Oil & Gas Expl & Prod ETF ($XOP) aims to track the S&P Oil & Gas Exploration & Production Select Industry Index, which is drawn from the exploration and production segment of a U.S. total market composite index. That focus keeps the fund squarely on the upstream end of the energy business – the companies that find and extract oil and gas – rather than the broader energy supply chain.

The strategy is passive, meaning $XOP is designed to mirror the index's total return performance rather than rely on active stock selection. That construction ties the fund's returns tightly to how U.S. oil and gas explorers and producers move as a group.

4. iShares Global Energy ETF ($IXC)

iShares Global Energy ETF (IXC) share price over the last year: started at US$41.18, ended at US$58.47, a change of +42.0%. Range over the period: high US$58.58, low US$40.23. Source: Stake market data. Past performance is not a reliable indicator of future performance.

Price: US$58.47 · Daily: -0.2% · AUM: US$2.86B · MER: 0.38%

iShares Global Energy ETF ($IXC) aims to track an index made up of energy-sector equities from markets around the world. Most of the other funds in this article concentrate on U.S. energy companies; $IXC casts a wider net, pulling in energy stocks from multiple countries. The fund keeps at least 80% of its assets in the securities that make up its underlying index.

5. Fidelity MSCI Energy Index ETF ($FENY)

Fidelity MSCI Energy Index ETF (FENY) share price over the last year: started at US$24.42, ended at US$35.32, a change of +44.6%. Range over the period: high US$35.35, low US$23.65. Source: Stake market data. Past performance is not a reliable indicator of future performance.

Price: US$35.32 · Daily: -0.08% · AUM: US$2.14B · MER: 0.08%

Fidelity MSCI Energy Index ETF ($FENY) aims to track the MSCI USA IMI Energy Index, which covers the energy sector across the U.S. equity market. The fund is designed to invest at least 80% of its assets in securities from that index. That means the portfolio is concentrated on U.S.-listed energy companies – think producers, drillers and the broader network of businesses tied to American energy.

6. VanEck Oil Services ETF ($OIH)

VanEck Oil Services ETF (OIH) share price over the last year: started at US$251.90, ended at US$415.33, a change of +64.9%. Range over the period: high US$453.92, low US$242.45. Source: Stake market data. Past performance is not a reliable indicator of future performance.

Price: US$415.33 · Daily: -0.2% · AUM: US$1.97B · MER: 0.35%

VanEck Oil Services ETF ($OIH) takes a narrower cut of the energy sector than most funds in this article. Rather than holding producers or integrated majors, it aims to replicate the MVIS US Listed Oil Services 25 Index – a benchmark covering companies in the oil services segment, such as drilling contractors, equipment providers and field service operators.

The index holds 25 stocks, and the fund is designed to keep at least 80% of its assets in those index securities. The 0.35% MER reflects that targeted focus on a specific corner of the energy market.

7. iShares US Energy ETF ($IYE)

iShares US Energy ETF (IYE) share price over the last year: started at US$47.04, ended at US$67.36, a change of +43.2%. Range over the period: high US$67.48, low US$45.39. Source: Stake market data. Past performance is not a reliable indicator of future performance.

Price: US$67.36 · Daily: -0.2% · AUM: US$1.86B · MER: 0.37%

iShares US Energy ETF ($IYE) aims to track the Russell 1000 Energy RIC 22.5/45 Capped Index, which measures the energy sector of the U.S. equity market. The index draws from large- and mid-cap U.S. energy companies in the Russell 1000 universe. The '22.5/45 capped' structure places concentration limits on individual holdings, so no single name can dominate the portfolio.

Because $IYE holds company shares rather than futures contracts, its returns are tied to the performance of the underlying businesses – producers, explorers and related energy names – rather than to commodity spot prices directly.

8. First Trust Natural Gas ETF ($FCG)

First Trust Natural Gas ETF (FCG) share price over the last year: started at US$23.65, ended at US$31.50, a change of +33.2%. Range over the period: high US$32.74, low US$21.95. Source: Stake market data. Past performance is not a reliable indicator of future performance.

Price: US$31.50 · Daily: -0.4% · AUM: US$690.7M · MER: 0.59%

First Trust Natural Gas ETF ($FCG) is designed to track the ISE-Revere Natural Gas Index, a benchmark focused on companies with significant natural gas business activity. The fund holds common stocks, depositary receipts and MLP (master limited partnership) units that make up that index, with at least 90% of net assets allocated to those securities.

MLP units are a structure common in U.S. energy, typically used by pipeline and midstream businesses to pass income through to unitholders. The fund's MER is 0.59%.

9. Invesco S&P 500 Eql Wght Energy ETF ($RSPG)

Invesco S&P 500 Eql Wght Energy ETF (RSPG) share price over the last year: started at US$77.22, ended at US$113.87, a change of +47.5%. Range over the period: high US$114.07, low US$74.95. Source: Stake market data. Past performance is not a reliable indicator of future performance.

Price: US$113.87 · Daily: -0.2% · AUM: US$627.6M · MER: 0.40%

The S&P 500 Equal Weight Energy Plus Index assigns each of its energy-sector components roughly the same allocation, rather than sizing positions by market capitalisation. Invesco S&P 500 Eql Wght Energy ETF ($RSPG) aims to track that index. The fund generally invests at least 90% of its total assets in the index's constituent securities, covering all energy companies represented in the S&P 500.

In a standard cap-weighted energy index, the largest producers typically command a substantial share of the portfolio. $RSPG's equal-weight construction is designed to spread that exposure more evenly across the sector's names. Smaller S&P 500 energy companies carry meaningful weight alongside the sector's bigger players.

10. ProShares K-1 Free Crude Oil ETF ($OILK)

ProShares K-1 Free Crude Oil ETF (OILK) share price over the last year: started at US$41.40, ended at US$54.78, a change of +32.3%. Range over the period: high US$60.84, low US$36.22. Source: Stake market data. Past performance is not a reliable indicator of future performance.

Price: US$54.78 · Daily: 0.3% · AUM: US$240.9M · MER: 0.69%

ProShares K-1 Free Crude Oil ETF ($OILK) aims to track the Bloomberg Commodity Balanced WTI Crude Oil Index. That index covers West Texas Intermediate (WTI) crude oil futures traded on the New York Mercantile Exchange (NYMEX), spread across three separate contract schedules. The fund holds a mix of securities that its adviser believes, in combination, should track that index.

The 'K-1 Free' label reflects a structural choice in how the fund is organised. Many U.S. commodity funds set up as partnerships issue a K-1 tax document to investors each year. $OILK is designed to avoid generating one – a distinction from partnership-structured commodity products.

Common questions

How do I invest in oil and gas ETFs in Australia?

All ten funds in this article trade on U.S. exchanges, so you'll need a share trading platform that provides access to U.S. markets. Each is priced in USD, which means an AUD-to-USD conversion is involved when you buy or sell. You find them by searching the ticker on your platform.

What are the key risks of oil and gas ETFs?

Energy stocks are closely tied to oil and gas prices, which can move sharply on supply decisions, geopolitical events and policy shifts around fossil fuels. All the funds here are priced in USD, so movements in the AUD/USD exchange rate affect what those returns look like in Australian dollar terms. Funds concentrated entirely in energy carry more risk than a broad market fund, since the whole portfolio sits within one part of the economy. $OILK tracks crude oil futures contracts rather than company shares, which adds a specific consideration: when futures markets are in contango, rolling from one expiring contract to the next can weigh on returns over time.

What are the main types of oil and gas ETFs in this list?

The funds here take several distinct approaches. Most track broad U.S. energy indices covering oil, gas and related companies across a range of company sizes – $XLE, $VDE, $FENY and $IYE fall into this group. Others target a specific segment: $XOP focuses on exploration and production companies, $OIH on oil services businesses, and $FCG on natural gas. $IXC broadens the geography to include global energy equities, $RSPG weights its S&P 500 energy holdings equally rather than by market cap, and $OILK tracks crude oil futures contracts rather than company shares.

Disclaimer

Past performance is not a reliable indicator of future performance. When you invest, your capital is at risk. You should consider your own investment objectives, financial situation, and particular needs before making an investment decision. The value of your investments can go down as well as up and you may receive back less than your original investment. As always, do your own research and consider seeking appropriate financial advice before investing.

This is not personal financial advice nor a recommendation to invest in the securities listed. Any advice provided by Stake is of general nature only and does not take into account your specific circumstances. Trading and volume data from the Stake investing platform is for reference purposes only, the investment choices of others may not be appropriate for your needs and is not a reliable indicator of performance.

Please refer to hellostake.com/pricing for the fees that apply. When you trade securities priced in another currency, currency conversion fees may apply and movements in the exchange rate may affect your returns.

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