CTWO vs. USOI
CTWO (COtwo Advisors Physical European Carbon Allowance Trust) and USOI (Credit Suisse X-Links Crude Oil Shares Covered Call ETN) are both exchange-traded funds - CTWO is a Commodities fund tracking the No Index (Physical Commodity), while USOI is a Oil & Gas fund tracking the Credit Suisse NASDAQ WTI Crude Oil FLOWS 106 Index. Both are passively managed. Over the past year, CTWO returned 11.47% vs 25.08% for USOI. Their -0.08 correlation means they have often moved in opposite directions in the past. CTWO charges 0.79%/yr vs 0.85%/yr for USOI.
Performance
CTWO vs. USOI - Performance Comparison
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Returns By Period
In the year-to-date period, CTWO achieves a -8.19% return, which is significantly lower than USOI's 32.59% return.
CTWO
- 1D
- -0.68%
- 1M
- 7.21%
- 6M
- -15.47%
- YTD
- -8.19%
- 1Y
- 11.47%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- -3.72%
USOI
- 1D
- 0.37%
- 1M
- 11.52%
- 6M
- 23.29%
- YTD
- 32.59%
- 1Y
- 25.08%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 10.84%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $84.57K | $60.56K | $22.12K | |
| $32.75M | $18.81M | $9.02M |
CTWO vs. USOI - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
CTWO COtwo Advisors Physical European Carbon Allowance Trust | -8.19% | 4.42% |
USOI Credit Suisse X-Links Crude Oil Shares Covered Call ETN | 32.59% | -3.10% |
Correlation
The correlation between CTWO and USOI is -0.10, meaning they have often moved in opposite directions in the past. This relationship can weaken or reverse as market conditions change.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | -0.10 |
Correlation (All Time) Calculated using the full available price history since Jun 20, 2025 | -0.08 |
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Return for Risk
CTWO vs. USOI — Risk / Return Rank
CTWO
USOI
CTWO vs. USOI - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for COtwo Advisors Physical European Carbon Allowance Trust (CTWO) 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.
| CTWO | USOI | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.56 | ||
| Sortino ratioReturn per unit of downside risk | -0.68 | ||
| Omega ratioGain probability vs. loss probability | 1.10 | 1.17 | -0.07 |
| Calmar ratioReturn relative to maximum drawdown | 0.33 | 0.96 | -0.63 |
| Martin ratioReturn relative to average drawdown | 0.62 | 3.00 | -2.38 |
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Drawdowns
CTWO vs. USOI - Drawdown Comparison
The maximum CTWO drawdown since its inception was -30.13%, which is greater than USOI's maximum drawdown of -23.54%. Use the drawdown chart below to compare losses from any high point for CTWO and USOI.
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Drawdown Indicators
| CTWO | USOI | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -30.13% | -23.54% | -6.59% |
Max Drawdown (1Y)Largest decline over 1 year | -30.13% | -23.54% | -6.59% |
Current DrawdownCurrent decline from peak | -18.64% | -14.63% | -4.01% |
Average DrawdownAverage peak-to-trough decline | -13.39% | -7.85% | -5.54% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 16.15% | 8.10% | +8.05% |
Volatility
CTWO vs. USOI - Volatility Comparison
COtwo Advisors Physical European Carbon Allowance Trust (CTWO) has a higher volatility of 8.32% compared to Credit Suisse X-Links Crude Oil Shares Covered Call ETN (USOI) at 6.18%. This indicates that CTWO'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
| CTWO | USOI | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 8.32% | 6.18% | +2.14% |
Volatility (6M)Calculated over the trailing 6-month period | 22.58% | 20.39% | +2.19% |
Volatility (1Y)Calculated over the trailing 1-year period | 28.20% | 24.74% | +3.46% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 29.03% | 23.32% | +5.71% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 29.03% | 23.32% | +5.71% |
CTWO vs. USOI - Expense Ratio Comparison
CTWO has a 0.79% expense ratio, which is lower than USOI's 0.85% expense ratio.
Dividends
CTWO vs. USOI - Dividend Comparison
CTWO has not paid dividends to shareholders, while USOI's dividend yield for the trailing twelve months is around 46.43%.
| Position | TTM | 2025 | 2024 |
|---|---|---|---|
CTWO COtwo Advisors Physical European Carbon Allowance Trust | 0.00% | 0.00% | 0.00% |
USOI Credit Suisse X-Links Crude Oil Shares Covered Call ETN | 46.43% | 27.21% | 12.54% |
Frequently Asked Questions
CTWO and USOI have a correlation of -0.10, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
CTWO has higher volatility (8.32%) compared to USOI (6.18%). In terms of maximum drawdown, CTWO dropped -30.13% vs USOI's -23.54%.
On 1-year performance, USOI leads with 25.08% vs 11.47% for CTWO. On fees, CTWO is cheaper at 0.79% per year. On volatility, USOI has been the lower-risk option at 6.18%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, USOI has performed better with a 25.08% return vs 11.47%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
CTWO is cheaper with a 0.79% expense ratio, compared with 0.85% for USOI.
USOI has the higher dividend yield at 46.43%, compared with 0.00% for CTWO.
CTWO is categorized as Commodities, while USOI is Oil & Gas. CTWO tracks No Index (Physical Commodity), while USOI tracks Credit Suisse NASDAQ WTI Crude Oil FLOWS 106 Index. They also come from different issuers: COtwo Advisors and Credit Suisse. Their fees differ too: 0.79% for CTWO and 0.85% for USOI.
USOI currently has the higher Sharpe Ratio (0.91 vs 0.35), 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.
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