CERY vs. USOI
Compare and contrast key facts about SPDR Bloomberg Enhanced Roll Yield Commodity Strategy No K-1 ETF (CERY) and Credit Suisse X-Links Crude Oil Shares Covered Call ETN (USOI).
CERY and USOI are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. CERY is a passively managed fund by State Street that tracks the performance of the Bloomberg Enhanced Roll Yield Total Return Index. It was launched on Sep 4, 2024. USOI is a passively managed fund by Credit Suisse that tracks the performance of the Credit Suisse NASDAQ WTI Crude Oil FLOWS 106 Index. It was launched on Apr 25, 2017. Both CERY and USOI are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.
Performance
CERY vs. USOI - Performance Comparison
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CERY vs. USOI - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
CERY SPDR Bloomberg Enhanced Roll Yield Commodity Strategy No K-1 ETF | 22.00% | 15.68% | 3.92% |
USOI Credit Suisse X-Links Crude Oil Shares Covered Call ETN | 26.76% | -8.78% | 7.60% |
Returns By Period
In the year-to-date period, CERY achieves a 22.00% return, which is significantly lower than USOI's 26.76% return.
CERY
- 1D
- -1.16%
- 1M
- 5.37%
- YTD
- 22.00%
- 6M
- 27.31%
- 1Y
- 31.40%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
USOI
- 1D
- -0.94%
- 1M
- 9.69%
- YTD
- 26.76%
- 6M
- 23.42%
- 1Y
- 17.27%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
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CERY vs. USOI - Expense Ratio Comparison
CERY has a 0.28% expense ratio, which is lower than USOI's 0.85% expense ratio.
Return for Risk
CERY vs. USOI — Risk / Return Rank
CERY
USOI
CERY vs. USOI - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for SPDR Bloomberg Enhanced Roll Yield Commodity Strategy No K-1 ETF (CERY) 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.
| CERY | USOI | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 1.92 | 0.80 | +1.12 |
Sortino ratioReturn per unit of downside risk | 2.52 | 1.17 | +1.35 |
Omega ratioGain probability vs. loss probability | 1.35 | 1.15 | +0.19 |
Calmar ratioReturn relative to maximum drawdown | 3.17 | 1.11 | +2.06 |
Martin ratioReturn relative to average drawdown | 10.88 | 2.55 | +8.34 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| CERY | USOI | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.92 | 0.80 | +1.12 |
Sharpe Ratio (All Time)Calculated using the full available price history | 1.90 | 0.59 | +1.31 |
Correlation
The correlation between CERY and USOI is 0.67, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.
Dividends
CERY vs. USOI - Dividend Comparison
CERY's dividend yield for the trailing twelve months is around 4.09%, less than USOI's 21.40% yield.
| TTM | 2025 | 2024 | |
|---|---|---|---|
CERY SPDR Bloomberg Enhanced Roll Yield Commodity Strategy No K-1 ETF | 4.09% | 4.99% | 0.52% |
USOI Credit Suisse X-Links Crude Oil Shares Covered Call ETN | 21.40% | 27.21% | 12.54% |
Drawdowns
CERY vs. USOI - Drawdown Comparison
The maximum CERY drawdown since its inception was -10.05%, smaller than the maximum USOI drawdown of -19.49%. Use the drawdown chart below to compare losses from any high point for CERY and USOI.
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Drawdown Indicators
| CERY | USOI | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -10.05% | -19.49% | +9.44% |
Max Drawdown (1Y)Largest decline over 1 year | -10.05% | -15.60% | +5.55% |
Current DrawdownCurrent decline from peak | -1.80% | -0.94% | -0.86% |
Average DrawdownAverage peak-to-trough decline | -2.18% | -7.67% | +5.49% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.93% | 6.78% | -3.85% |
Volatility
CERY vs. USOI - Volatility Comparison
SPDR Bloomberg Enhanced Roll Yield Commodity Strategy No K-1 ETF (CERY) has a higher volatility of 6.64% compared to Credit Suisse X-Links Crude Oil Shares Covered Call ETN (USOI) at 6.13%. This indicates that CERY's price experiences larger fluctuations and is considered to be riskier than USOI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| CERY | USOI | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.64% | 6.13% | +0.51% |
Volatility (6M)Calculated over the trailing 6-month period | 12.81% | 14.49% | -1.68% |
Volatility (1Y)Calculated over the trailing 1-year period | 16.43% | 21.65% | -5.22% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 14.65% | 21.10% | -6.45% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 14.65% | 21.10% | -6.45% |