Top 10 oil and gas ETFs to watch in 2026

Oil and gas ETFs hold shares in energy companies – producers, explorers and oilfield service providers – packaged into a single fund that trades on a stock exchange. Most of the ten funds in this list concentrate on U.S.-listed energy stocks. The iShares Global Energy ETF ($IXC) tracks equities from across the world, while ProShares K-1 Free Crude Oil ETF ($OILK) is designed to follow crude oil futures rather than company shares. Annual fees across the list run from 0.08% to 0.70%.

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 25 September 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$45.15, ended at US$62.04, a change of +37.4%. Range over the period: high US$65.93, low US$42.61. Source: Stake market data. Past performance is not a reliable indicator of future performance.

Price: US$62.04 · Daily: -0.9% · AUM: US$40.15B · MER: 0.08%

The State Street Energy Select Sector SPDR ETF ($XLE) aims to match the price and yield performance of the Energy Select Sector Index before expenses. The index focuses on energy-sector companies, so the portfolio concentrates in that slice of the market rather than spreading across equities broadly. $XLE takes a passive approach, replicating the index rather than making active calls on individual stocks.

Under normal market conditions, $XLE holds at least 95% of its assets in the index's constituent securities. That high threshold keeps the portfolio closely aligned with the benchmark it follows.

2. Vanguard Energy ETF ($VDE)

Vanguard Energy ETF (VDE) share price over the last year: started at US$127.20, ended at US$173.71, a change of +36.6%. Range over the period: high US$185.61, low US$120.37. Source: Stake market data. Past performance is not a reliable indicator of future performance.

Price: US$173.71 · Daily: -1.0% · AUM: US$10.87B · MER: 0.09%

Built around the MSCI U.S. Investable Market Energy Index, Vanguard Energy ETF ($VDE) is designed to track the performance of U.S. energy stocks. The index covers companies across large-, mid- and small-cap tiers. That breadth means $VDE's holdings extend beyond the biggest producers to include mid-size and smaller names in the oil and gas sector.

Like most funds in this list, $VDE holds U.S.-listed equities rather than futures contracts or international energy shares. The full market-cap coverage – from large companies down to small – means the index aims to capture a wider slice of the U.S. energy sector than a large-cap-only approach would.

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$133.50, ended at US$181.50, a change of +36.0%. Range over the period: high US$199.70, low US$123.29. Source: Stake market data. Past performance is not a reliable indicator of future performance.

Price: US$181.50 · Daily: -1.4% · AUM: US$3.97B · MER: 0.35%

The State Street SPDR S&P Oil & Gas Expl & Prod ETF ($XOP) is designed to track the S&P Oil & Gas Exploration & Production Select Industry Index. That index pulls from the exploration and production segment of a U.S. total market composite, so the fund concentrates on companies that find and extract oil and gas rather than the broader energy supply chain.

$XOP uses a passive management strategy, aiming to match the index's total return rather than beat it. The fund charges a 0.35% MER and holds around $3.97B in assets.

4. iShares Global Energy ETF ($IXC)

iShares Global Energy ETF (IXC) share price over the last year: started at US$42.19, ended at US$57.44, a change of +36.1%. Range over the period: high US$60.58, low US$40.23. Source: Stake market data. Past performance is not a reliable indicator of future performance.

Price: US$57.44 · Daily: -1.0% · AUM: US$2.96B · MER: 0.38%

The iShares Global Energy ETF ($IXC) aims to track an index made up of energy-sector equities drawn from markets around the world. Most of the other funds in this article concentrate on U.S.-listed energy companies, so $IXC covers notably different ground – pulling in producers and related businesses from multiple countries rather than a single market. The fund commits at least 80% of its assets to 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$24.98, ended at US$34.21, a change of +36.9%. Range over the period: high US$36.51, low US$23.65. Source: Stake market data. Past performance is not a reliable indicator of future performance.

Price: US$34.21 · Daily: -0.9% · AUM: US$2.11B · MER: 0.08%

Fidelity MSCI Energy Index ETF ($FENY) is designed to track the MSCI USA IMI Energy Index, which covers the energy sector within the U.S. equity market. The fund aims to hold at least 80% of its assets in securities from that index.

The fund charges a 0.08% MER. At $2.11B in assets under management, $FENY is a sizeable vehicle for tracking U.S. energy equities.

6. VanEck Oil Services ETF ($OIH)

VanEck Oil Services ETF (OIH) share price over the last year: started at US$264.60, ended at US$393.68, a change of +48.8%. 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$393.68 · Daily: -0.1% · AUM: US$1.93B · MER: 0.35%

Rather than holding oil producers or explorers, VanEck Oil Services ETF ($OIH) concentrates on the companies that supply equipment and expertise to the energy industry. It is designed to track the MVIS US Listed Oil Services 25 Index, which covers U.S.-listed stocks in the oil services segment. The fund is required to keep at least 80% of its assets in index constituents, giving it a tight focus on this one corner of the energy sector.

7. iShares US Energy ETF ($IYE)

iShares US Energy ETF (IYE) share price over the last year: started at US$48.01, ended at US$65.38, a change of +36.2%. Range over the period: high US$69.25, low US$45.39. Source: Stake market data. Past performance is not a reliable indicator of future performance.

Price: US$65.38 · Daily: -0.9% · AUM: US$1.66B · MER: 0.37%

The iShares US Energy ETF ($IYE) tracks the Russell 1000 Energy RIC 22.5/45 Capped Index, which measures the energy sector of the U.S. equity market. The fund generally holds the component securities of that index directly, so its coverage moves with the index's composition.

The capped structure built into the index limits how much any single company can represent, which prevents a handful of large energy names from dominating the portfolio. $IYE charges a 0.37% MER and holds around $1.66B in assets.

8. First Trust Natural Gas ETF ($FCG)

First Trust Natural Gas ETF (FCG) share price over the last year: started at US$23.67, ended at US$29.20, a change of +23.4%. 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$29.20 · Daily: -2.1% · AUM: US$658.7M · MER: 0.59%

First Trust Natural Gas ETF ($FCG) aims to match the performance of the ISE-Revere Natural Gas Index. Holdings can include common stocks, depositary receipts and units in MLPs – master limited partnerships, a type of publicly traded partnership structure. According to the fund's mandate, at least 90% of net assets are invested in securities that make up the index.

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$80.42, ended at US$109.97, a change of +36.7%. Range over the period: high US$117.11, low US$74.95. Source: Stake market data. Past performance is not a reliable indicator of future performance.

Price: US$109.97 · Daily: -1.0% · AUM: US$610.2M · MER: 0.40%

The Invesco S&P 500 Eql Wght Energy ETF ($RSPG) tracks the S&P 500 Equal Weight Energy Plus Index. The index covers all the energy companies within the S&P 500. In a standard market-cap weighted approach, the sector's largest companies absorb most of the allocation. Equal weighting gives each constituent the same share instead, so smaller energy companies carry comparable index weight to the sector's biggest names.

The fund aims to hold at least 90% of its assets in the index's underlying securities. That structure keeps $RSPG closely aligned to the benchmark rather than concentrating on any single company's fortunes.

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$40.51, ended at US$57.09, a change of +40.9%. 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$57.09 · Daily: -1.3% · AUM: US$235.1M · MER: 0.70%

ProShares K-1 Free Crude Oil ETF ($OILK) is built around crude oil futures rather than energy company shares. It aims to track the Bloomberg Commodity Balanced WTI Crude Oil Index, which covers three separate futures contract schedules for West Texas Intermediate crude traded on NYMEX (the New York Mercantile Exchange). Spreading across three contract schedules is intended to reduce the impact of rolling from one futures contract to the next as each expires.

The 'K-1 Free' in the name refers to a tax reporting form that commodity partnerships typically issue to investors. $OILK is structured to avoid generating that form, which simplifies the paperwork that comes with holding futures-based products. The fund holds $235.1M in assets and carries a 0.70% annual fee.

Common questions

How can I invest in oil and gas ETFs from New Zealand?

All ten funds in this list trade on U.S. exchanges, so NZ investors can access them through a share trading platform that offers U.S. market access. You search the ticker, place an order, and the ETF holds the underlying shares or futures contracts on your behalf. Settlement follows U.S. market hours.

What are the key risks of oil and gas ETFs?

Some of the key risks include oil and gas price volatility – prices can move sharply in response to supply decisions, geopolitical events and demand shifts. Because these funds hold U.S.-listed equities or futures contracts, movements in the NZD/USD exchange rate affect what those holdings are worth in New Zealand dollars. Concentration in a single sector means a broad energy downturn affects these funds more directly than a diversified portfolio would. The futures-based fund in this list ($OILK) carries an additional complexity: futures contracts must be rolled periodically, and that process can affect returns in ways that diverge from movements in the spot crude oil price.

How do these oil and gas ETFs differ from one another?

Several distinct parts of the energy market are represented here. Some funds aim to track the broad U.S. energy sector, holding large integrated producers alongside refiners and other energy companies. Others concentrate on specific segments: $XOP focuses on exploration and production, $OIH on oil field services, and $FCG on natural gas. $IXC extends beyond the U.S. to include global energy equities. $OILK sits apart from the equity-based funds. It is designed to track WTI crude oil futures contracts rather than company shares, so its performance is tied more directly to crude oil prices than to the earnings of energy businesses.

How do the management fees on these funds compare?

The annual management fees in this list range from 0.08% to 0.70%. At the low end, $XLE and $FENY charge 0.08% each, and $VDE charges 0.09%. The remaining equity-based funds range from 0.35% to 0.59%, and $OILK – the futures-based fund – carries the highest fee at 0.70%.

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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