- ISIN
- US22539T2666
- CUSIP
- 22539T266
- Issuer
- Credit Suisse
- Inception Date
- Apr 25, 2017
- Region
- Global (Broad)
- Category
- Oil & Gas, Derivative Income
- Leveraged
- 1x (No leverage)
- Index Tracked
- Credit Suisse NASDAQ WTI Crude Oil FLOWS 106 Index
- Distribution Policy
- Distributing
- Asset Class
- Multi-Asset
- Asset Class Size
- Multi-Cap
- Assets Under Management
- $274M
Share Price Chart
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Performance
USOI Performance Chart
Credit Suisse X-Links Crude Oil Shares Covered Call ETN (USOI) is up 28.2% since the beginning of the year. USOI is currently trading at $46 per share.
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Returns By Period
Credit Suisse X-Links Crude Oil Shares Covered Call ETN (USOI) has returned 28.21% so far this year and 23.34% over the past 12 months.
Credit Suisse X-Links Crude Oil Shares Covered Call ETN
- 1D
- -1.37%
- 1M
- -12.96%
- YTD
- 28.21%
- 6M
- 27.76%
- 1Y
- 23.34%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
Benchmark (S&P 500 Index)
- 1D
- -0.37%
- 1M
- -0.01%
- YTD
- 9.16%
- 6M
- 8.64%
- 1Y
- 25.22%
- 3Y*
- 19.78%
- 5Y*
- 11.99%
- 10Y*
- 13.88%
USOI Monthly Returns History
Based on dividend-adjusted daily data since Jun 3, 2024, USOI's average daily return is +0.05%, while the average monthly return is +0.94%. At this rate, an investment would double in approximately 6.2 years.
Historically, 52% of months were positive and 48% were negative. The best month was Mar 2026 with a return of +14.6%, while the worst month was Apr 2025 at -13.8%. The longest winning streak lasted 4 consecutive months, and the longest losing streak was 5 months.
On a daily basis, USOI closed higher 54% of trading days. The best single day was Apr 9, 2025 with a return of +5.5%, while the worst single day was Apr 17, 2026 at -5.4%.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | 7.55% | 3.82% | 14.60% | 14.15% | -4.81% | -7.79% | 28.21% | ||||||
| 2025 | 0.83% | -2.48% | 0.29% | -13.83% | 5.99% | 2.42% | 7.09% | -4.10% | -0.36% | -0.89% | -1.06% | -1.43% | -8.78% |
| 2024 | 4.80% | -1.53% | -2.25% | -4.43% | 1.60% | 0.15% | 5.23% | 3.24% |
Benchmark Metrics
Credit Suisse X-Links Crude Oil Shares Covered Call ETN has an annualized alpha of 8.13%, beta of 0.22, and R2 of 0.02 versus S&P 500 Index. Calculated based on daily prices since June 03, 2024.
- This ETF participates in less of S&P 500 Index's moves in both directions, but captures a larger share of gains (34.95%) than losses (15.12%) - typical of diversified or defensive assets.
- Beta of 0.22 may look defensive, but with R2 of 0.02 this ETF is largely uncorrelated with S&P 500 Index - low beta reflects independence, not downside protection. See the Volatility section for a true picture of this ETF's risk.
- R2 of 0.02 means this ETF moves largely independently of S&P 500 Index - capture ratios reflect limited market correlation rather than active downside protection. Consider using a more representative benchmark.
- Alpha
- 8.13%
- Beta
- 0.22
- R²
- 0.02
- Upside Capture
- 34.95%
- Downside Capture
- 15.12%
Expense Ratio
USOI has an expense ratio of 0.85%, placing it in the medium range.
Return for Risk
Risk / Return Rank
USOI ranks 28 for risk / return — below 28% of ETFs on our site. The returns aren't fully compensating for the risk involved. This isn't necessarily a dealbreaker, but factor it into your decision — especially if you're risk-averse.
Return / Risk — by metrics
The table below present risk-adjusted performance metrics for Credit Suisse X-Links Crude Oil Shares Covered Call ETN (USOI) and compare them to S&P 500 Index.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| USOI | Benchmark | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.03 | ||
| Sortino ratioReturn per unit of downside risk | -1.31 | ||
| Omega ratioGain probability vs. loss probability | 1.18 | 1.37 | -0.19 |
| Calmar ratioReturn relative to maximum drawdown | 1.34 | 2.78 | -1.44 |
| Martin ratioReturn relative to average drawdown | 4.11 | 12.44 | -8.33 |
Dividends
Dividend History
Credit Suisse X-Links Crude Oil Shares Covered Call ETN provided a 46.72% dividend yield over the last twelve months, with an annual payout of $21.32 per share.
| Period | TTM | 2025 | 2024 |
|---|---|---|---|
| Dividend | $21.32 | $12.88 | $8.21 |
Dividend yield | 46.72% | 27.21% | 12.54% |
Monthly Dividends
The table displays the monthly dividend distributions for Credit Suisse X-Links Crude Oil Shares Covered Call ETN. The dividends shown in the table have been adjusted to account for any splits that may have occurred.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | $0.43 | $0.92 | $1.29 | $7.47 | $2.85 | $2.55 | $15.51 | ||||||
| 2025 | $1.16 | $1.75 | $0.38 | $0.85 | $0.85 | $2.08 | $2.49 | $0.77 | $0.58 | $0.75 | $0.60 | $0.63 | $12.88 |
| 2024 | $0.79 | $0.72 | $0.42 | $2.21 | $0.94 | $1.64 | $1.49 | $8.21 |
Drawdowns
Drawdowns Chart
The Drawdowns chart displays portfolio losses from any high point along the way. Drawdowns are calculated considering price movements and all distributions paid, if any.
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Worst Drawdowns
The table below displays the maximum drawdowns of the Credit Suisse X-Links Crude Oil Shares Covered Call ETN. A maximum drawdown is a measure of risk, indicating the largest reduction in portfolio value due to a series of losing trades.
The maximum drawdown for the Credit Suisse X-Links Crude Oil Shares Covered Call ETN was 19.49%, occurring on May 5, 2025. Recovery took 206 trading sessions.
The current Credit Suisse X-Links Crude Oil Shares Covered Call ETN drawdown is 17.45%.
Related event | Drawdown | Fall | Recovery | Underwater |
|---|---|---|---|---|
2025 selloff2025 | -19.49%May 2025 | 3mo 19d | 10mo 1d | 1y 1moJan 2025 - Mar 2026 |
2026 correction2026 | -17.45%Jun 2026 | 1mo 3d | — | 1mo 4dMay 2026 - now |
2024 correction2024 | -13.82%Sep 2024 | 1mo 24d | 4mo 7d | 6mo 1dJul 2024 - Jan 2025 |
2026 pullback2026 | -5.99%Apr 2026 | 3d | 4d | 7dApr 2026 - Apr 2026 |
2026 pullback2026 | -5.25%May 2026 | 6d | 6d | 12dApr 2026 - May 2026 |
Drawdown Indicators
| USOI | Benchmark | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -19.49% | -56.78% | +37.29% |
Max Drawdown (1Y)Largest decline over 1 year | -17.45% | -9.10% | -8.35% |
Max Drawdown (3Y)Largest decline over 3 years | — | -18.90% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -25.43% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -33.92% | — |
Current DrawdownCurrent decline from peak | -17.45% | -1.80% | -15.65% |
Average DrawdownAverage peak-to-trough decline | -7.30% | -10.71% | +3.41% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 5.72% | 2.03% | +3.69% |
Volatility
Volatility Chart
The chart below shows the rolling one-month volatility.
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