Many Oil ETFs and ETNs Down Over 29% in 2014
Global oil prices were weak throughout 2014 due to concerns over weak demand as well as a stronger US Dollar. In December alone, the price of crude oil in the US fell by 21.3%, and finished the year down more than 55% since June. Several investment funds that track the price of oil or invest in oil companies actively trade in the US in the form of exchange traded funds (ETFs) and exchange traded notes (ETNs).
ETFs and ETNs are set up to track the daily performance of an underlying index or strategy, allowing investors to buy a single security instead of many individual securities.
The following securities that track oil were down over 29% each in 2014:
| Ticker | Fund Name | 2014 Performance |
| BNO | United States Brent Oil | -49.03% |
| OIL | iPath S&P GSCI Crude Oil Total Return ETN | -45.76% |
| DBO | PowerShares DB Oil | -43.33% |
| USO | United States Oil | -42.36% |
| OLEM | iPath Pure Beta Crude Oil ETN | -40.90% |
| OLO | PowerShares DB Crude Oil Long ETN | -39.55% |
| USL | United States 12 Month Oil | -37.45% |
| XES | SPDR S&P Oil & Gas Equipment & Services | -34.72% |
| UHN | United States Diesel-Heating Oil | -34.67% |
| PXJ | PowerShares Dynamic Oil & Gas Services | -31.63% |
| XOP | SPDR S&P Oil & Gas Exploration & Production | -29.44% |
If your financial advisor or stockbroker recommended that you invest in oil securities, you may have options to recover your investment loss. If your advisor failed to fully disclose the risks of investing in oil securities, then you may have a claim for misrepresentation. If your investment objective was to only invest in safe and stable investments, you may have a claim for unsuitability. If oil securities made up a large portion of your portfolio, then you may have a claim for over-concentration and lack of diversification. If your advisor purchased this fund without your knowledge, you may have a claim for unauthorized trading. If your advisor purchased this fund on margin, you may have a claim for excessive use of margin and negligence.
The attorneys at Carlson & Associates, P.A., located in Miami, Florida, represent investors who have lost money due to the improper conduct of financial advisors. If you would like to have a free consultation, we can be reached at (305) 372-9700 to discuss your options.
