GLDI vs. USOI
GLDI (Credit Suisse X-Links Gold Shares Covered Call ETN) and USOI (Credit Suisse X-Links Crude Oil Shares Covered Call ETN) are both exchange-traded funds - GLDI is a Precious Metals fund tracking the Credit Suisse NASDAQ Gold FLOWS 103 Index, while USOI is a Commodities fund tracking the Credit Suisse NASDAQ WTI Crude Oil FLOWS 106 Index. Both are passively managed. Over the past year, GLDI returned 21.23% vs 49.69% for USOI. At a 0.03 correlation, their price movements are largely independent. GLDI charges 0.65%/yr vs 0.85%/yr for USOI.
Performance
GLDI vs. USOI - Performance Comparison
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Returns By Period
In the year-to-date period, GLDI achieves a 2.06% return, which is significantly lower than USOI's 50.53% return.
GLDI
- 1D
- -0.81%
- 1M
- 0.90%
- YTD
- 2.06%
- 6M
- 4.42%
- 1Y
- 21.23%
- 3Y*
- 19.54%
- 5Y*
- 11.15%
- 10Y*
- 8.99%
USOI
- 1D
- 1.94%
- 1M
- 2.54%
- YTD
- 50.53%
- 6M
- 48.65%
- 1Y
- 49.69%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
GLDI vs. USOI - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
GLDI Credit Suisse X-Links Gold Shares Covered Call ETN | 2.06% | 34.25% | 9.69% |
USOI Credit Suisse X-Links Crude Oil Shares Covered Call ETN | 50.53% | -8.78% | 6.94% |
Correlation
The correlation between GLDI and USOI is -0.09, 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 | -0.09 |
Correlation (All Time) Calculated using the full available price history since Jun 4, 2024 | 0.03 |
The correlation between GLDI and USOI shifts across timeframes, from -0.09 (1 year) to 0.03 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
GLDI vs. USOI — Risk / Return Rank
GLDI
USOI
GLDI vs. USOI - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Credit Suisse X-Links Gold Shares Covered Call ETN (GLDI) 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.
| GLDI | USOI | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.77 | ||
| Sortino ratioReturn per unit of downside risk | -0.96 | ||
| Omega ratioGain probability vs. loss probability | 1.30 | 1.37 | -0.07 |
| Calmar ratioReturn relative to maximum drawdown | 1.55 | 4.20 | -2.64 |
| Martin ratioReturn relative to average drawdown | 6.07 | 9.74 | -3.67 |
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
| GLDI | USOI | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.46 | 2.23 | -0.77 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.99 | — | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.79 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.37 | 0.94 | -0.58 |
Drawdowns
GLDI vs. USOI - Drawdown Comparison
The maximum GLDI drawdown since its inception was -32.26%, which is greater than USOI's maximum drawdown of -19.49%. Use the drawdown chart below to compare losses from any high point for GLDI and USOI.
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Drawdown Indicators
| GLDI | USOI | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -32.26% | -19.49% | -12.77% |
Max Drawdown (1Y)Largest decline over 1 year | -13.73% | -11.90% | -1.83% |
Max Drawdown (3Y)Largest decline over 3 years | -13.73% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -14.07% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -14.94% | — | — |
Current DrawdownCurrent decline from peak | -7.37% | -3.08% | -4.29% |
Average DrawdownAverage peak-to-trough decline | -14.00% | -7.21% | -6.79% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.50% | 5.12% | -1.62% |
Volatility
GLDI vs. USOI - Volatility Comparison
The current volatility for Credit Suisse X-Links Gold Shares Covered Call ETN (GLDI) is 3.88%, while Credit Suisse X-Links Crude Oil Shares Covered Call ETN (USOI) has a volatility of 10.14%. This indicates that GLDI 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.
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Volatility by Period
| GLDI | USOI | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.88% | 10.14% | -6.26% |
Volatility (6M)Calculated over the trailing 6-month period | 12.87% | 18.25% | -5.38% |
Volatility (1Y)Calculated over the trailing 1-year period | 14.57% | 22.35% | -7.78% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 11.31% | 22.59% | -11.28% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 11.35% | 22.59% | -11.24% |
GLDI vs. USOI - Expense Ratio Comparison
GLDI has a 0.65% expense ratio, which is lower than USOI's 0.85% expense ratio.
Dividends
GLDI vs. USOI - Dividend Comparison
GLDI's dividend yield for the trailing twelve months is around 22.37%, less than USOI's 36.88% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
GLDI Credit Suisse X-Links Gold Shares Covered Call ETN | 22.37% | 16.15% | 10.45% | 10.02% | 13.73% | 10.65% | 14.25% | 7.25% | 5.33% | 7.77% | 17.26% | 10.07% |
USOI Credit Suisse X-Links Crude Oil Shares Covered Call ETN | 36.88% | 27.21% | 12.54% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
GLDI and USOI have a correlation of -0.09, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
USOI has higher volatility (10.14%) compared to GLDI (3.88%). In terms of maximum drawdown, GLDI dropped -32.26% vs USOI's -19.49%.
On 1-year performance, USOI leads with 49.69% vs 21.23% for GLDI. On fees, GLDI is cheaper at 0.65% per year. On volatility, GLDI has been the lower-risk option at 3.88%. 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 49.69% return vs 21.23%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
GLDI is cheaper with a 0.65% expense ratio, compared with 0.85% for USOI.
USOI has the higher dividend yield at 36.88%, compared with 22.37% for GLDI.
GLDI is categorized as Precious Metals, while USOI is Commodities. GLDI tracks Credit Suisse NASDAQ Gold FLOWS 103 Index, while USOI tracks Credit Suisse NASDAQ WTI Crude Oil FLOWS 106 Index. Their fees differ too: 0.65% for GLDI and 0.85% for USOI.
USOI currently has the higher Sharpe Ratio (2.23 vs 1.46), 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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