VanEck Oil Services ETF (OIH)

The fund is trading in a downtrend. At $359.33 on November 10, 2026, VanEck Oil Services ETF (OIH) sits below both its 50-day simple moving average of $394.49 and its 200-day simple moving average of $398.74, and it is 8.91% and 9.88% below those averages respectively. Over the past week the price fell 7.54%, and over the past month it fell 7.54%, even though the fund still gained 24.04% over the past year. That gap between a strong one-year return and a weak recent stretch is the central fact for anyone following oil services right now. The fund is 99.1% energy, so its price tracks the cycle of oil and gas drilling and field services closely. The last session's move was small, a 0.35% decline on volume 28.3% below average, which suggests the recent selling has not been accompanied by heavy trading. The price now sits 47% of the way up its 52-week range, between a low of $270.55 and a high of $459.28.

The fund has lost ground over the past month, down 7.54%, and over the past three months, down 13.48%. Over six months the decline reaches 17.82%. Yet over the past year the fund is still up 24.04%, so the weakness is recent and has come after a strong stretch. The price has fallen below its 20-day EMA, 50-day SMA and 200-day SMA, which is a sign that the move is no longer a brief dip. The 50-day average sits 1.07% below the 200-day average, a narrow gap that means the longer-term trend line has flattened and is not yet pulling the price back up.

The fund seeks to track the MVIS US Listed Oil Services 25 Index, and its portfolio is concentrated in energy, which makes up 99.1% of holdings. Industrials account for just 0.9%. Because the companies in the fund provide drilling, equipment and field services to oil producers, their revenue depends on how much exploration and production activity companies choose to fund. That makes the fund more sensitive to the energy cycle than a broad market fund. The fund's typical daily move is 2.45%, so investors should expect frequent swings even when the trend is steady.

CleaRank rates the fund Sell with a score of 36 out of 100. The trend factor pulls the score down the most, reflecting the price's position below both moving averages. The momentum factor is also strongly negative, with the 14-day RSI at 37.6 in the bearish zone. The one-year performance factor works in the opposite direction, lifting the score because of the 24.04% gain over the past year. The cost factor is neutral: the expense ratio is 0.35%, which means a $10,000 holding would pay $35.00 a year in fees. The fund's trailing three-year average return, as reported by the fund family, is 10.14% a year, which is a longer-term record than the recent weakness alone would suggest.

The base case is that OIH stays under its moving averages while the trend remains down. For the price to repair the damage, it would need to climb back through the 20-day EMA of $380.27 and then the 50-day SMA of $394.49, and hold above them. Until that happens, the trend and the bearish momentum reading (RSI 37.6, with the MACD line negative) argue for continued caution rather than a turn. A better outcome would show up as a rise through $380.27 on heavier volume, followed by a close above the 200-day SMA of $398.74. That would mean the fund is recovering the ground lost over the past month. A worse outcome would be a break below the 52-week low of $270.55, which would erase the one-year gain entirely. The fund's typical daily move of 2.45% means swings of that size in either direction are normal, so a single session says little. The trend over several weeks is the more useful signal. These are conditions to watch, not a forecast of where the price will go.

Support sits below the price at the 52-week low of $270.55, the lowest level the fund has traded at in the past year and the point where the one-year gain would be lost. Resistance sits above the price first at the 20-day EMA of $380.27, a short-term average that the price would need to recover. Next is the 50-day SMA of $394.49, followed by the 200-day SMA of $398.74, which sits just above it and marks the long-term trend line. Above those is the 52-week high of $459.28, the level the fund would need to reach to recover its highs of the past year.