OOO vs BTXX vs VBTC: Crude Oil Takes First Place and Two Bitcoin Funds Follow
Written by Christopher Hall, AdvDipFP | Authorised Representative, AFSL 526688 | Updated October 2026
The three ASX-listed ETFs at the top of this week's full ASX ETF top-10 board at 29 October 2026 are the Betashares Crude Oil Index ETF – Currency Hedged, Synthetic (OOO, +36.46% quarterly price return), the DigitalX Bitcoin ETF (BTXX, +27.36%) and the VanEck Bitcoin ETF (VBTC, +27.32%). None of the three holds a single company. OOO holds crude oil futures through derivatives and BTXX and VBTC each hold bitcoin, so no pair can overlap and the crossover is empty by construction. This is the first time these three funds have led together; a week earlier the top three was QETH, OOO and BTXX, covered in the QETH, OOO and BTXX comparison from a week earlier.
All returns on this page are price returns: the change in each fund's closing price, with distributions not included. Editions published before 15 October 2026 described the quarterly measure as a total return, so comparisons with those earlier editions are approximate.
What Is Each Fund Built to Do?
OOO (Betashares Crude Oil Index ETF – Currency Hedged, Synthetic) aims to track the S&P GSCI Crude Oil Index Excess Return, hedged into Australian dollars: exposure to West Texas Intermediate (WTI) crude oil futures obtained through derivatives, not physical oil and not a portfolio of companies. It listed on the ASX on 11 November 2011, charges 1.29% per annum, and reported net assets of A$132.7 million as at 16 September 2026. Betashares notes the fund carries market, commodity-volatility, commodity-roll and derivatives risk, and that its return can diverge materially from the spot oil price as futures contracts are rolled.
BTXX (DigitalX Bitcoin ETF) aims to track the price of bitcoin in Australian dollars, before fees and expenses, by reference to the CME CF Bitcoin Reference Rate. It holds bitcoin itself, in custody with Coinbase Custody Trust Company, rather than a portfolio of companies. The fund began on 12 July 2024, charges 0.49% per annum and reported net assets of A$44.3 million as at 30 September 2026; its July 2026 factsheet records no distribution for FY26. DigitalX states that "Bitcoin is a very high-risk and volatile asset class" and that the fund is subject to exchange-rate risk because bitcoin is priced in US dollars.
VBTC (VanEck Bitcoin ETF) gives investors exposure to the price of bitcoin, before fees and other costs, and VanEck states it was the first bitcoin ETF to list on the ASX, on 18 June 2024. It charges 0.45% per annum and reported net assets of A$305.56 million as at 3 September 2026. VanEck lists its distribution frequency as "Other" rather than a standard periodic schedule. VanEck describes the fund as suited to a "very high risk/return" to "extremely high risk/return" profile, with a recommended minimum investment timeframe of 5–7 years.
OOO | BTXX | VBTC | |
Provider | Betashares | DigitalX (responsible entity K2 Asset Management) | VanEck |
Aims to track | S&P GSCI Crude Oil Index Excess Return (WTI futures) | Price of bitcoin (CME CF Bitcoin Reference Rate) | Price of bitcoin |
Structure | Synthetic (derivatives/swap-based) | Direct bitcoin holding (single-asset) | Single-asset bitcoin exposure |
Currency | Hedged into A$ | Unhedged (A$ return) | Unhedged (A$ return) |
Management fee (p.a.) | 1.29% | 0.49% | 0.45% |
Fund size | A$132.7M (16 Sep 2026) | A$44.3M (30 Sep 2026) | A$305.56M (3 Sep 2026) |
Start date | 11 Nov 2011 (ASX listing) | 12 Jul 2024 (fund inception) | 18 Jun 2024 (ASX listing) |
Distributions | Annual | None for FY26 | "Other" (provider wording) |
Quarterly price return to 29 Oct 2026 | +36.46% | +27.36% | +27.32% |
Weekly price return to 29 Oct 2026 | +2.60% | −3.67% | −3.78% |
Monthly price return to 29 Oct 2026 | +15.00% | −4.75% | −4.98% |
One-year price return to 29 Oct 2026 | +109.89% | −33.25% | −30.65% |
The one-year row again tells two different stories. OOO is up 109.89% over a year, an improvement from +102.64% a week earlier, while BTXX is down 33.25% (from −37.14%) and VBTC down 30.65% (from −36.40%). Fees are factual comparison data and do not, on their own, indicate suitability.
Do OOO, BTXX and VBTC Hold Any of the Same Companies?
No, and none of the three holds any company at all. BTXX and VBTC each hold a single asset, bitcoin, and a bitcoin fund has no portfolio of securities to list. OOO holds oil futures through derivatives. No crossover is possible for any pair or for all three together, which makes this a fact of fund construction rather than a finding about the market. BTXX and VBTC track the same asset, so their returns differ by issuer, fee, timing of trades and the days that fall inside each fund's return window, not by what they hold.
Why Did Three Funds Lead Together?
They did not share one mechanism. Two separate markets, crude oil and bitcoin, produced the three returns, and they moved in opposite directions this week.
OOO's 36.46% is up 2.47 percentage points from 33.99% a week earlier, and it takes first place for the first time. Its weekly return was +2.60% and its monthly return +15.00%. It lifts OOO's lead over second place to 9.10 percentage points, from 1.22 points between first and second a week earlier. The figure reflects the crude oil futures price and the cost or benefit of rolling from one futures contract to the next, not oil producers' shares.
BTXX and VBTC finished 0.04 percentage points apart, at 27.36% and 27.32%. Both lost quarterly ground this week, BTXX 3.50 percentage points (30.86% to 27.36%) and VBTC 2.91 (30.23% to 27.32%), and VBTC's smaller fall moved it from 6th to 3rd. All four bitcoin funds on the board track the same asset and finished within 0.35 percentage points of each other (BTXX 27.36%, VBTC 27.32%, QBTC 27.26%, IBIT 27.01%), narrower than the 0.63-point band a week earlier, so the order reflects exactly which trading days entered and left each fund's 63-trading-day window. Weekly returns were −3.67% for BTXX and −3.78% for VBTC.
The ether fund that led for eight weeks is no longer in the top three. The Betashares Ethereum ETF (QETH) fell from 1st to 7th (35.22% to 23.77%) on a −6.16% week, and all four bitcoin funds now rank ahead of it.
No constituent price check applies to this trio: none of the three funds holds companies whose share prices could explain the return.
What This Comparison Does Not Establish
Ranking three funds together by quarterly price return is not a claim that they are comparable investments or that a reader should hold any combination of them. BTXX and VBTC are single-asset bitcoin funds whose issuers each describe them as high or extremely high risk, with negative one-year records sitting beside this quarter's placing. OOO is a synthetic, futures-based fund concentrated in a single commodity, whose return can diverge from the spot price of oil. A single quarterly figure captures none of those differences. Traders considering any of these products may wish to speak with a qualified financial adviser about whether a particular product suits their circumstances.
Access the Research Behind This Comparison
Finer Market Points publishes the weekly Top 30 ASX momentum data behind this ETF ranking. Members receive the underlying educational data and weekly analysis through the FMP YouTube Membership.
Remember that past performance is no guarantee of future results, and all trading involves risk.
Frequently Asked Questions
Do OOO, BTXX and VBTC hold any of the same companies?
No, and it is impossible for any pair this week. OOO holds crude oil futures via derivatives, while BTXX and VBTC each hold bitcoin; none of the three holds any company at all, so no crossover between any pair is possible, by construction rather than by coincidence.
Why did OOO take first place?
OOO's quarterly price return rose 2.47 percentage points this week (33.99% to 36.46%), on a +2.60% weekly return and a +15.00% monthly return, lifting it from 2nd to 1st for the first time. The data records the change and does not establish a cause.
Why did VBTC rise from 6th to 3rd?
VBTC's quarterly price return fell 2.91 percentage points this week (30.23% to 27.32%), less than BTXX (-3.50), QBTC (-3.07) or IBIT (-3.54), which moved it from 6th to 3rd. All four bitcoin funds track the same asset and finished within 0.35 percentage points of each other, so the order reflects which days rolled into and out of each fund's 63-trading-day return window.
What is the difference between BTXX and VBTC?
Both funds hold bitcoin and finished the quarter to 29 October 2026 within 0.04 percentage points of each other (BTXX +27.36%, VBTC +27.32%). They differ in issuer (DigitalX and VanEck), management fee (0.49% and 0.45% per annum) and fund size (A$44.3 million at 30 September 2026 and A$305.56 million at 3 September 2026). Fees are factual comparison data and do not, on their own, indicate suitability.
What is the difference between price return and total return?
A price return is the change in a fund's closing price over the period, with distributions not included; a total return also counts distributions paid. The returns on this page are price returns. Of the three funds, OOO is the only one that pays a regular distribution (annual), so its total return would differ from its price return; BTXX paid none for FY26.
How is the leading ASX ETF trio determined each week?
Finer Market Points ranks all ASX-listed exchange traded products carrying a usable quarterly price return figure — 452 of 471 this week — from a weekly returns file built from settled daily closing prices, and the top three by that measure become the subject of this comparison each week the trio changes. Full fund facts come from each provider's own fund page, factsheet or product disclosure statement, never from third-party aggregators.
Sources
# | Source | Detail | Accessed |
1 | Finer Market Points, weekly ETF universe returns | ASX-listed ETF weekly, monthly, quarterly and one-year price returns (settled daily close, distributions not included), as at 29 Oct 2026. Prices from Yahoo Finance; product list and categories from the ASX Investment Products report, September 2026 | 30 Oct 2026 |
2 | Betashares — OOO fund page | OOO index, structure, management fee, net assets (16 Sep 2026), distribution frequency and the issuer's own risk statement | 18 Sep 2026 |
3 | DigitalX — BTXX fund page and July 2026 factsheet | BTXX objective, structure, custodian, management fee, net assets (30 Sep 2026), inception date, FY26 distribution and the issuer's own risk statement | 10 Oct 2026 |
4 | VanEck — VBTC fund page | VBTC objective, management fee, net assets (3 Sep 2026), listing date, distribution frequency and the issuer's own risk wording | 4 Sep 2026 |
5 | Finer Market Points | Momentum research framework and ETF watchlist methodology | 30 Oct 2026 |
All fund facts on this page come from each provider's own fund page, product disclosure statement or factsheet; no third-party aggregator was used for fund facts this edition.
This content is for educational purposes only and does not constitute financial advice. Past performance is no guarantee of future results.
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