CCRV vs. USOI

Last updated Jun 3, 2026

CCRV (iShares Commodity Curve Carry Strategy ETF) and USOI (Credit Suisse X-Links Crude Oil Shares Covered Call ETN) are both Commodities funds - CCRV tracks the CCRV-US - ICE BofA Commodity Enhanced Carry Index while USOI tracks the Credit Suisse NASDAQ WTI Crude Oil FLOWS 106 Index. Both are passively managed. A 0.61 correlation means they provide meaningful diversification when combined. CCRV charges 0.40%/yr vs 0.85%/yr for USOI.

Performance

CCRV vs. USOI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares Commodity Curve Carry Strategy ETF (CCRV) 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

CCRV

• 1D: —
• 1M: —
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

USOI

• 1D: 1.82%
• 1M: 2.47%
• YTD: 47.67%
• 6M: 46.91%
• 1Y: 47.75%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

CCRV vs. USOI - Yearly Performance Comparison

	2026 (YTD)	2025	2024
CCRV iShares Commodity Curve Carry Strategy ETF	0.00%	-0.05%	-0.27%
USOI Credit Suisse X-Links Crude Oil Shares Covered Call ETN	47.67%	-8.78%	6.94%

Correlation

The correlation between CCRV and USOI is 0.26, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.26
Correlation (All Time) Calculated using the full available price history since Jun 4, 2024	0.61

Over the past year, the correlation between CCRV and USOI has dropped to 0.26 - well below their long-term average of 0.61, suggesting their price drivers have been diverging.

Return for Risk

CCRV vs. USOI — Risk / Return Rank

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

USOI

USOI Risk / Return Rank: 63
USOI Sharpe Ratio Rank: 64
USOI Sortino Ratio Rank: 58
USOI Omega Ratio Rank: 58
USOI Calmar Ratio Rank: 80
USOI Martin Ratio Rank: 55

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.

CCRV vs. USOI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares Commodity Curve Carry Strategy ETF (CCRV) 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.

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

Sharpe Ratios by Period

	CCRV	USOI	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	2.15	—
Sharpe Ratio (All Time) Calculated using the full available price history	—	0.90	—

Drawdowns

Drawdown Indicators

	CCRV	USOI	Difference
Max Drawdown Largest peak-to-trough decline	—	-19.49%	—
Max Drawdown (1Y) Largest decline over 1 year	—	-11.90%	—
Current Drawdown Current decline from peak	—	-4.92%	—
Average Drawdown Average peak-to-trough decline	—	-7.21%	—
Ulcer Index Depth and duration of drawdowns from previous peaks	—	5.11%	—

Volatility

Volatility by Period

	CCRV	USOI	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	10.13%	—
Volatility (6M) Calculated over the trailing 6-month period	—	18.18%	—
Volatility (1Y) Calculated over the trailing 1-year period	—	22.31%	—
Volatility (5Y) Calculated over the trailing 5-year period, annualized	—	22.57%	—
Volatility (10Y) Calculated over the trailing 10-year period, annualized	—	22.57%	—

CCRV vs. USOI - Expense Ratio Comparison

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

Dividends

CCRV vs. USOI - Dividend Comparison

CCRV has not paid dividends to shareholders, while USOI's dividend yield for the trailing twelve months is around 37.59%.

Position	TTM	2025	2024	2023	2022	2021
CCRV iShares Commodity Curve Carry Strategy ETF	0.00%	0.00%	4.43%	7.26%	33.27%	26.22%
USOI Credit Suisse X-Links Crude Oil Shares Covered Call ETN	37.59%	27.21%	12.54%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both CCRV and USOI in my portfolio?

CCRV and USOI have a correlation of 0.26, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, CCRV or USOI?

On fees, CCRV 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, CCRV or USOI?

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

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

USOI has the higher dividend yield at 37.59%, compared with 0.00% for CCRV.

What is the main difference between CCRV and USOI?

CCRV tracks CCRV-US - ICE BofA Commodity Enhanced Carry Index, while USOI tracks Credit Suisse NASDAQ WTI Crude Oil FLOWS 106 Index. They also come from different issuers: iShares and Credit Suisse. Their fees differ too: 0.40% for CCRV and 0.85% for USOI.