BCPL vs. USOI

Last updated Jul 17, 2026

BCPL (BNY Mellon Core Plus ETF) and USOI (Credit Suisse X-Links Crude Oil Shares Covered Call ETN) are both exchange-traded funds - BCPL is a Intermediate Core-Plus Bond fund actively managed by BNY Mellon, while USOI is a Oil & Gas fund tracking the Credit Suisse NASDAQ WTI Crude Oil FLOWS 106 Index. BCPL is actively managed, while USOI is passively managed. At a correlation of -0.43, they often move in opposite directions. BCPL charges 0.40%/yr vs 0.85%/yr for USOI.

Performance

BCPL vs. USOI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in BNY Mellon Core Plus ETF (BCPL) 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

BCPL

• 1D: -0.12%
• 1M: -0.73%
• 6M: 0.30%
• YTD: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

USOI

• 1D: -0.32%
• 1M: -0.32%
• 6M: 27.94%
• YTD: 30.37%
• 1Y: 25.53%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

BCPL vs. USOI - Yearly Performance Comparison

	2026 (YTD)
BCPL BNY Mellon Core Plus ETF	0.18%
USOI Credit Suisse X-Links Crude Oil Shares Covered Call ETN	28.09%

Correlation

The correlation between BCPL and USOI is -0.43, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.

	Correlation
Correlation (All Time) Calculated using the full available price history since Jan 12, 2026	-0.43

Return for Risk

BCPL vs. USOI — Risk / Return Rank

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

BCPL

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

USOI

USOI Risk / Return Rank: 31
USOI Sharpe Ratio Rank: 34
USOI Sortino Ratio Rank: 33
USOI Omega Ratio Rank: 32
USOI Calmar Ratio Rank: 27
USOI Martin Ratio Rank: 30

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.

BCPL vs. USOI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for BNY Mellon Core Plus ETF (BCPL) 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.

	BCPL	USOI	Difference
Sharpe ratio: Return per unit of total volatility	—	1.03	—
Sortino ratio: Return per unit of downside risk	—	1.50	—
Omega ratio: Gain probability vs. loss probability	—	1.18	—
Calmar ratio: Return relative to maximum drawdown	—	1.09	—
Martin ratio: Return relative to average drawdown	—	3.33	—

Drawdowns

BCPL vs. USOI - Drawdown Comparison

The maximum BCPL drawdown since its inception was -2.95%, smaller than the maximum USOI drawdown of -23.54%. Use the drawdown chart below to compare losses from any high point for BCPL and USOI.

Drawdown Indicators

	BCPL	USOI	Difference
Max Drawdown Largest peak-to-trough decline	-2.95%	-23.54%	+20.59%
Max Drawdown (1Y) Largest decline over 1 year	—	-23.54%	—
Current Drawdown Current decline from peak	-1.36%	-16.06%	+14.70%
Average Drawdown Average peak-to-trough decline	-1.03%	-7.70%	+6.67%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	7.69%	—

Volatility

Volatility by Period

	BCPL	USOI	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	10.41%	—
Volatility (6M) Calculated over the trailing 6-month period	—	20.58%	—
Volatility (1Y) Calculated over the trailing 1-year period	4.00%	24.95%	-20.95%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	4.00%	23.52%	-19.52%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	4.00%	23.52%	-19.52%

BCPL vs. USOI - Expense Ratio Comparison

BCPL has a 0.40% expense ratio, which is lower than USOI's 0.85% expense ratio.

Dividends

BCPL vs. USOI - Dividend Comparison

BCPL's dividend yield for the trailing twelve months is around 1.94%, less than USOI's 45.94% yield.

Position	TTM	2025	2024
BCPL BNY Mellon Core Plus ETF	1.94%	0.00%	0.00%
USOI Credit Suisse X-Links Crude Oil Shares Covered Call ETN	45.94%	27.21%	12.54%

Frequently Asked Questions

Can I hold both BCPL and USOI in my portfolio?

BCPL and USOI have a correlation of -0.43, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, BCPL or USOI?

On fees, BCPL is cheaper at 0.40% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, BCPL or USOI?

BCPL is cheaper with a 0.40% expense ratio, compared with 0.85% for USOI.

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

USOI has the higher dividend yield at 45.94%, compared with 1.94% for BCPL.

What is the main difference between BCPL and USOI?

BCPL is categorized as Intermediate Core-Plus Bond, while USOI is Oil & Gas. They also come from different issuers: BNY Mellon and Credit Suisse. Their fees differ too: 0.40% for BCPL and 0.85% for USOI.