Celebrate Summer Driving Season With Oil ETFs

Memorial Day weekend marks, among other things, summer driving season. As gas prices creep to record levels, investors may consider an oil related ETF to pump money into their portfolios.

Unless you already have some of your assets in oil or some that are affiliated with oil (such as a refinery, driller or explorer) then chances are you are not gaining anything from these high prices. ETFs allow everyday people access to the boom in oil with a basket of oil companies, reports Joanne Von Alroth for Investors Business Daily. Some of the ETFs available include:

• Oil Services HOLDRs (OIH): Invests in a specified group of oil services companies.

• PowerShares Dynamic Oil & Gas Services (PXJ): A mid-cap growth fund that tracks the performance of oil and gas equipment, services and drilling companies.

• iShares DJ US Oil Equipment (IEZ): Includes companies that are suppliers of equipment or services to oil fields and offshore platforms, such as drilling, exploration, engineering, logistics, seismic information services and platform construction.

• Energy Select Sector SPDR (XLE): big oil companies that develop and produce crude oil and natural gas, and provide drilling and other energy-related services.

OIH, PXJ, IEZ, XLE 1-yr chart:

Comments

[DavidJackson]

There are also 6 oil commodity ETFs, all listed here:

<b>Commodity ETFs and ETNs

This page is part of the new ETF Selector we just published.