Quarterly Performance

USO Performance as of 9/30/2011
	1 month	3 month	Year to Date	1 Year	5 Year	Since Inception*
Net Asset Value	-11.08%	-18.09%	-21.32%	-12.10%	-46.29%	-54.50%
Share Price	-11.65%	-18.13%	-21.82%	-12.49%	-46.51%	-54.76%

The performance quoted represents past performance, does not guarantee future results and current performance may be lower or higher than the data quoted.

USO Performance vs. Benchmark as of 9/30/2011

Growth of a $10,000 Investment as of 9/30/2011

The chart above shows how a hypothetical investment of $10,000 in USO at its inception would have performed versus an investment in the Benchmark Futures Contract. The values indicate what $10,000 would have grown to over the time period indicated. The hypothetical example does not represent the returns of any particular investment.

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For a copy of the Prospectus contact: ALPS Distributors, Inc., 1290 Broadway, Suite 1100, Denver, Colorado 80203 or call 800.920.0259 or click here .

USO is not a mutual fund or any other type of Investment Company within the meaning of the Investment Company Act of 1940, as amended, and is not subject to regulation thereunder.

Commodities and futures generally are volatile and are not suitable for all investors. USO is speculative and involves a high degree of risk. An investor may lose all or substantially all of an investment in USO. Funds that focus on a single sector generally experience greater volatility.

Market returns are based on the market close and do not represent the returns an investor would receive if shares were traded at other times.

* USO commenced operations on 04/10/2006.

** Performance figures presented reflect the expense ratio for USO.

^ USO seeks to manage its portfolio such that the average daily changes in its Net Asset Value ('NAV') over any rolling 30 day period is within 10%+/- of the average daily change in the price of the Benchmark Oil Futures Contract(s). (The Benchmark Oil Futures Contract is the near month futures contract for light, sweet crude oil. When the new month contract is within two weeks of expiration, the Benchmark Oil Futures Contract will become the next contract to expire.)

For further discussion of these and additional risks associated with an investment in USO units, click here.

Investing in USO subjects you to the risks of the oil industry. These risks could result in large fluctuations in the price of USO's units. An investor could lose all or substantially all of his/her investment.

The price of units may not accurately track the spot price of oil and you may not be able to effectively use USO as a way to hedge the risk of losses in your oil-related transactions or as a way to indirectly invest in oil.

Investors buy and sell units in the secondary market (i.e., not directly from USO). Only "authorized purchasers" may trade directly with USO, in minimum blocks of 100,000 units.

The United States Oil Fund is distributed by ALPS Distributors, Inc.