AMZY vs. USOI

Last updated Jul 14, 2026

AMZY (YieldMax AMZN Option Income Strategy ETF) and USOI (Credit Suisse X-Links Crude Oil Shares Covered Call ETN) are both exchange-traded funds - AMZY is a Derivative Income fund actively managed by YieldMax, while USOI is a Oil & Gas fund tracking the Credit Suisse NASDAQ WTI Crude Oil FLOWS 106 Index. AMZY is actively managed, while USOI is passively managed. Over the past year, AMZY returned 4.25% vs 22.76% for USOI. At a 0.01 correlation, their price movements are largely independent. AMZY charges 1.09%/yr vs 0.85%/yr for USOI.

Performance

AMZY vs. USOI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in YieldMax AMZN Option Income Strategy ETF (AMZY) and Credit Suisse X-Links Crude Oil Shares Covered Call ETN (USOI). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, AMZY achieves a 2.25% return, which is significantly lower than USOI's 28.99% return.

AMZY

• 1D: 0.83%
• 1M: 2.87%
• 6M: -1.77%
• YTD: 2.25%
• 1Y: 4.25%
• 3Y*: —
• 5Y*: —
• 10Y*: —

USOI

• 1D: 3.12%
• 1M: -7.36%
• 6M: 26.19%
• YTD: 28.99%
• 1Y: 22.76%
• 3Y*: —
• 5Y*: —
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

AMZY vs. USOI - Yearly Performance Comparison

	2026 (YTD)	2025	2024
AMZY YieldMax AMZN Option Income Strategy ETF	2.25%	10.39%	11.94%
USOI Credit Suisse X-Links Crude Oil Shares Covered Call ETN	28.99%	-8.78%	3.24%

Correlation

The correlation between AMZY and USOI is -0.08, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	-0.08
Correlation (All Time) Calculated using the full available price history since Jun 3, 2024	0.01

Return for Risk

AMZY vs. USOI — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

AMZY

AMZY Risk / Return Rank: 12
AMZY Sharpe Ratio Rank: 12
AMZY Sortino Ratio Rank: 12
AMZY Omega Ratio Rank: 12
AMZY Calmar Ratio Rank: 12
AMZY Martin Ratio Rank: 12

USOI

USOI Risk / Return Rank: 29
USOI Sharpe Ratio Rank: 31
USOI Sortino Ratio Rank: 30
USOI Omega Ratio Rank: 30
USOI Calmar Ratio Rank: 25
USOI Martin Ratio Rank: 28

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

AMZY vs. USOI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for YieldMax AMZN Option Income Strategy ETF (AMZY) and Credit Suisse X-Links Crude Oil Shares Covered Call ETN (USOI). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

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.

	AMZY	USOI	Difference
Sharpe ratio: Return per unit of total volatility	0.17	0.92	-0.74
Sortino ratio: Return per unit of downside risk	0.40	1.36	-0.97
Omega ratio: Gain probability vs. loss probability	1.05	1.17	-0.11
Calmar ratio: Return relative to maximum drawdown	0.22	0.97	-0.75
Martin ratio: Return relative to average drawdown	0.50	3.04	-2.55

AMZY vs. USOI - Sharpe Ratio Comparison

The current AMZY Sharpe Ratio is 0.17, which is lower than the USOI Sharpe Ratio of 0.92. The chart below compares the historical Sharpe Ratios of AMZY and USOI, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

AMZY vs. USOI - Drawdown Comparison

The maximum AMZY drawdown since its inception was -23.70%, roughly equal to the maximum USOI drawdown of -23.54%. Use the drawdown chart below to compare losses from any high point for AMZY and USOI.

Drawdown Indicators

	AMZY	USOI	Difference
Max Drawdown Largest peak-to-trough decline	-23.70%	-23.54%	-0.16%
Max Drawdown (1Y) Largest decline over 1 year	-19.61%	-23.54%	+3.93%
Current Drawdown Current decline from peak	-8.70%	-16.94%	+8.24%
Average Drawdown Average peak-to-trough decline	-5.50%	-7.66%	+2.16%
Ulcer Index Depth and duration of drawdowns from previous peaks	8.58%	7.50%	+1.08%

Volatility

AMZY vs. USOI - Volatility Comparison

The current volatility for YieldMax AMZN Option Income Strategy ETF (AMZY) is 7.59%, while Credit Suisse X-Links Crude Oil Shares Covered Call ETN (USOI) has a volatility of 10.73%. This indicates that AMZY experiences smaller price fluctuations and is considered to be less risky than USOI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	AMZY	USOI	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.59%	10.73%	-3.14%
Volatility (6M) Calculated over the trailing 6-month period	17.32%	20.56%	-3.24%
Volatility (1Y) Calculated over the trailing 1-year period	24.46%	24.99%	-0.53%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	25.07%	23.57%	+1.50%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	25.07%	23.57%	+1.50%

AMZY vs. USOI - Expense Ratio Comparison

AMZY has a 1.09% expense ratio, which is higher than USOI's 0.85% expense ratio.

Dividends

AMZY vs. USOI - Dividend Comparison

AMZY's dividend yield for the trailing twelve months is around 53.39%, more than USOI's 46.43% yield.

Position	TTM	2025	2024	2023
AMZY YieldMax AMZN Option Income Strategy ETF	53.39%	52.59%	47.91%	9.90%
USOI Credit Suisse X-Links Crude Oil Shares Covered Call ETN	46.43%	27.21%	12.54%	0.00%

Frequently Asked Questions

Can I hold both AMZY and USOI in my portfolio?

AMZY and USOI have a correlation of -0.08, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, AMZY or USOI?

USOI has higher volatility (10.73%) compared to AMZY (7.59%). In terms of maximum drawdown, AMZY dropped -23.70% vs USOI's -23.54%.

Which ETF is better, AMZY or USOI?

On 1-year performance, USOI leads with 22.76% vs 4.25% for AMZY. On fees, USOI is cheaper at 0.85% per year. On volatility, AMZY has been the lower-risk option at 7.59%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, AMZY or USOI?

Over the 1-year period, USOI has performed better with a 22.76% return vs 4.25%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, AMZY or USOI?

USOI is cheaper with a 0.85% expense ratio, compared with 1.09% for AMZY.

Which ETF pays a higher dividend yield, AMZY or USOI?

AMZY has the higher dividend yield at 53.39%, compared with 46.43% for USOI.

What is the main difference between AMZY and USOI?

AMZY is categorized as Derivative Income, while USOI is Oil & Gas. They also come from different issuers: YieldMax and Credit Suisse. Their fees differ too: 1.09% for AMZY and 0.85% for USOI.

Which has better risk-adjusted returns?

USOI currently has the higher Sharpe Ratio (0.92 vs 0.17), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.