KRBN vs. USOI
KRBN (KraneShares Global Carbon ETF) and USOI (Credit Suisse X-Links Crude Oil Shares Covered Call ETN) are both Commodities funds - KRBN tracks the IHS Markit Global Carbon Index while USOI tracks the Credit Suisse NASDAQ WTI Crude Oil FLOWS 106 Index. Both are passively managed. Over the past year, KRBN returned 14.88% vs 46.39% for USOI. At a correlation of -0.02, they often move in opposite directions. KRBN charges 0.79%/yr vs 0.85%/yr for USOI.
Performance
KRBN vs. USOI - Performance Comparison
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Returns By Period
In the year-to-date period, KRBN achieves a -6.55% return, which is significantly lower than USOI's 47.45% return.
KRBN
- 1D
- -0.65%
- 1M
- 2.64%
- YTD
- -6.55%
- 6M
- -2.44%
- 1Y
- 14.88%
- 3Y*
- 2.19%
- 5Y*
- 7.33%
- 10Y*
- —
USOI
- 1D
- -2.04%
- 1M
- 0.59%
- YTD
- 47.45%
- 6M
- 44.00%
- 1Y
- 46.39%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
KRBN vs. USOI - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
KRBN KraneShares Global Carbon ETF | -6.55% | 23.11% | -9.62% |
USOI Credit Suisse X-Links Crude Oil Shares Covered Call ETN | 47.45% | -8.78% | 6.94% |
Correlation
The correlation between KRBN and USOI is -0.14, 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 | -0.14 |
Correlation (All Time) Calculated using the full available price history since Jun 4, 2024 | -0.02 |
The correlation between KRBN and USOI shifts across timeframes, from -0.14 (1 year) to -0.02 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
KRBN vs. USOI — Risk / Return Rank
KRBN
USOI
KRBN vs. USOI - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for KraneShares Global Carbon ETF (KRBN) 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.
| KRBN | USOI | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.28 | ||
| Sortino ratioReturn per unit of downside risk | -1.56 | ||
| Omega ratioGain probability vs. loss probability | 1.15 | 1.35 | -0.20 |
| Calmar ratioReturn relative to maximum drawdown | 0.60 | 3.92 | -3.32 |
| Martin ratioReturn relative to average drawdown | 1.56 | 9.08 | -7.52 |
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
| KRBN | USOI | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.79 | 2.08 | -1.28 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.26 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.56 | 0.89 | -0.32 |
Drawdowns
KRBN vs. USOI - Drawdown Comparison
The maximum KRBN drawdown since its inception was -36.42%, which is greater than USOI's maximum drawdown of -19.49%. Use the drawdown chart below to compare losses from any high point for KRBN and USOI.
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Drawdown Indicators
| KRBN | USOI | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -36.42% | -19.49% | -16.93% |
Max Drawdown (1Y)Largest decline over 1 year | -24.98% | -11.90% | -13.08% |
Max Drawdown (3Y)Largest decline over 3 years | -27.34% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -36.42% | — | — |
Current DrawdownCurrent decline from peak | -14.82% | -5.06% | -9.76% |
Average DrawdownAverage peak-to-trough decline | -16.14% | -7.20% | -8.94% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 9.56% | 5.13% | +4.43% |
Volatility
KRBN vs. USOI - Volatility Comparison
The current volatility for KraneShares Global Carbon ETF (KRBN) is 5.10%, while Credit Suisse X-Links Crude Oil Shares Covered Call ETN (USOI) has a volatility of 10.37%. This indicates that KRBN 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
| KRBN | USOI | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.10% | 10.37% | -5.27% |
Volatility (6M)Calculated over the trailing 6-month period | 16.61% | 18.34% | -1.73% |
Volatility (1Y)Calculated over the trailing 1-year period | 18.91% | 22.46% | -3.55% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 28.10% | 22.61% | +5.49% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 28.62% | 22.61% | +6.01% |
KRBN vs. USOI - Expense Ratio Comparison
KRBN has a 0.79% expense ratio, which is lower than USOI's 0.85% expense ratio.
Dividends
KRBN vs. USOI - Dividend Comparison
KRBN's dividend yield for the trailing twelve months is around 2.04%, less than USOI's 37.65% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|---|
KRBN KraneShares Global Carbon ETF | 2.04% | 1.90% | 7.10% | 7.60% | 22.91% | 0.49% |
USOI Credit Suisse X-Links Crude Oil Shares Covered Call ETN | 37.65% | 27.21% | 12.54% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
KRBN and USOI have a correlation of -0.14, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
USOI has higher volatility (10.37%) compared to KRBN (5.10%). In terms of maximum drawdown, KRBN dropped -36.42% vs USOI's -19.49%.
On 1-year performance, USOI leads with 46.39% vs 14.88% for KRBN. On fees, KRBN is cheaper at 0.79% per year. On volatility, KRBN has been the lower-risk option at 5.10%. 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 46.39% return vs 14.88%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
KRBN is cheaper with a 0.79% expense ratio, compared with 0.85% for USOI.
USOI has the higher dividend yield at 37.65%, compared with 2.04% for KRBN.
KRBN tracks IHS Markit Global Carbon Index, while USOI tracks Credit Suisse NASDAQ WTI Crude Oil FLOWS 106 Index. They also come from different issuers: CICC and Credit Suisse. Their fees differ too: 0.79% for KRBN and 0.85% for USOI.
USOI currently has the higher Sharpe Ratio (2.08 vs 0.79), 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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