IBII vs. USOI

Last updated Jun 5, 2026

IBII (iShares iBonds Oct 2032 Term TIPS ETF) and USOI (Credit Suisse X-Links Crude Oil Shares Covered Call ETN) are both exchange-traded funds - IBII is a Inflation-Protected Bonds fund tracking the ICE 2032 Maturity US Inflation-Linked Treasury 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, IBII returned 5.28% vs 46.39% for USOI. At a correlation of -0.11, they often move in opposite directions. IBII charges 0.10%/yr vs 0.85%/yr for USOI.

Performance

IBII vs. USOI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares iBonds Oct 2032 Term TIPS ETF (IBII) 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

In the year-to-date period, IBII achieves a 1.63% return, which is significantly lower than USOI's 47.45% return.

IBII

• 1D: 0.02%
• 1M: -0.38%
• YTD: 1.63%
• 6M: 1.21%
• 1Y: 5.28%
• 3Y*: —
• 5Y*: —
• 10Y*: —

USOI

• 1D: -2.04%
• 1M: 0.59%
• YTD: 47.45%
• 6M: 44.00%
• 1Y: 46.39%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

IBII vs. USOI - Yearly Performance Comparison

	2026 (YTD)	2025	2024
IBII iShares iBonds Oct 2032 Term TIPS ETF	1.63%	8.65%	1.31%
USOI Credit Suisse X-Links Crude Oil Shares Covered Call ETN	47.45%	-8.78%	6.94%

Correlation

The correlation between IBII and USOI is -0.19, 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 (1Y) Calculated over the trailing 1-year period	-0.19
Correlation (All Time) Calculated using the full available price history since Jun 4, 2024	-0.11

Return for Risk

IBII vs. USOI — Risk / Return Rank

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

IBII

IBII Risk / Return Rank: 50
IBII Sharpe Ratio Rank: 46
IBII Sortino Ratio Rank: 49
IBII Omega Ratio Rank: 45
IBII Calmar Ratio Rank: 55
IBII Martin Ratio Rank: 55

USOI

USOI Risk / Return Rank: 62
USOI Sharpe Ratio Rank: 63
USOI Sortino Ratio Rank: 58
USOI Omega Ratio Rank: 57
USOI Calmar Ratio Rank: 78
USOI Martin Ratio Rank: 54

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.

IBII vs. USOI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares iBonds Oct 2032 Term TIPS ETF (IBII) 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.

	IBII	USOI	Difference
Sharpe ratio: Return per unit of total volatility	1.56	2.08	-0.52
Sortino ratio: Return per unit of downside risk	2.37	2.69	-0.31
Omega ratio: Gain probability vs. loss probability	1.28	1.35	-0.06
Calmar ratio: Return relative to maximum drawdown	2.68	3.92	-1.24
Martin ratio: Return relative to average drawdown	9.32	9.08	+0.24
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

IBII vs. USOI - Sharpe Ratio Comparison

The current IBII Sharpe Ratio is 1.56, which is comparable to the USOI Sharpe Ratio of 2.08. The chart below compares the historical Sharpe Ratios of IBII and USOI, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	IBII	USOI	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.56	2.08	-0.52
Sharpe Ratio (All Time) Calculated using the full available price history	1.12	0.89	+0.24

Drawdowns

IBII vs. USOI - Drawdown Comparison

The maximum IBII drawdown since its inception was -4.65%, smaller than the maximum USOI drawdown of -19.49%. Use the drawdown chart below to compare losses from any high point for IBII and USOI.

Drawdown Indicators

	IBII	USOI	Difference
Max Drawdown Largest peak-to-trough decline	-4.65%	-19.49%	+14.84%
Max Drawdown (1Y) Largest decline over 1 year	-1.98%	-11.90%	+9.92%
Current Drawdown Current decline from peak	-0.65%	-5.06%	+4.41%
Average Drawdown Average peak-to-trough decline	-1.12%	-7.20%	+6.08%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.58%	5.13%	-4.55%

Volatility

IBII vs. USOI - Volatility Comparison

The current volatility for iShares iBonds Oct 2032 Term TIPS ETF (IBII) is 0.89%, while Credit Suisse X-Links Crude Oil Shares Covered Call ETN (USOI) has a volatility of 10.37%. This indicates that IBII 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.

Volatility by Period

	IBII	USOI	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.89%	10.37%	-9.48%
Volatility (6M) Calculated over the trailing 6-month period	2.29%	18.34%	-16.05%
Volatility (1Y) Calculated over the trailing 1-year period	3.42%	22.46%	-19.04%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	5.42%	22.61%	-17.19%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	5.42%	22.61%	-17.19%

IBII vs. USOI - Expense Ratio Comparison

IBII has a 0.10% expense ratio, which is lower than USOI's 0.85% expense ratio.

Dividends

IBII vs. USOI - Dividend Comparison

IBII's dividend yield for the trailing twelve months is around 4.05%, less than USOI's 37.65% yield.

Position	TTM	2025	2024	2023
IBII iShares iBonds Oct 2032 Term TIPS ETF	4.05%	4.80%	4.76%	1.10%
USOI Credit Suisse X-Links Crude Oil Shares Covered Call ETN	37.65%	27.21%	12.54%	0.00%

Frequently Asked Questions

Can I hold both IBII and USOI in my portfolio?

IBII and USOI have a correlation of -0.19, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, IBII or USOI?

USOI has higher volatility (10.37%) compared to IBII (0.89%). In terms of maximum drawdown, IBII dropped -4.65% vs USOI's -19.49%.

Which ETF is better, IBII or USOI?

On 1-year performance, USOI leads with 46.39% vs 5.28% for IBII. On fees, IBII is cheaper at 0.10% per year. On volatility, IBII has been the lower-risk option at 0.89%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, IBII or USOI?

Over the 1-year period, USOI has performed better with a 46.39% return vs 5.28%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, IBII or USOI?

IBII is cheaper with a 0.10% expense ratio, compared with 0.85% for USOI.

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

USOI has the higher dividend yield at 37.65%, compared with 4.05% for IBII.

What is the main difference between IBII and USOI?

IBII is categorized as Inflation-Protected Bonds, while USOI is Commodities. IBII tracks ICE 2032 Maturity US Inflation-Linked Treasury 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: 0.10% for IBII and 0.85% for USOI.

Which has better risk-adjusted returns?

USOI currently has the higher Sharpe Ratio (2.08 vs 1.56), 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.