OILU vs. USOI

Last updated Jun 4, 2026

OILU (MicroSectors Oil & Gas Exploration & Production 3X Leveraged ETN) and USOI (Credit Suisse X-Links Crude Oil Shares Covered Call ETN) are both exchange-traded funds - OILU is a Leveraged Commodities fund managed by BMO, while USOI is a Commodities fund tracking the Credit Suisse NASDAQ WTI Crude Oil FLOWS 106 Index. Over the past year, OILU returned 115.83% vs 49.69% for USOI. A 0.60 correlation means they provide meaningful diversification when combined. OILU charges 0.95%/yr vs 0.85%/yr for USOI.

Performance

OILU vs. USOI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in MicroSectors Oil & Gas Exploration & Production 3X Leveraged ETN (OILU) 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, OILU achieves a 96.53% return, which is significantly higher than USOI's 50.53% return.

OILU

• 1D: 3.64%
• 1M: -10.84%
• YTD: 96.53%
• 6M: 77.49%
• 1Y: 115.83%
• 3Y*: 10.60%
• 5Y*: —
• 10Y*: —

USOI

• 1D: 1.94%
• 1M: 2.54%
• YTD: 50.53%
• 6M: 48.65%
• 1Y: 49.69%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

OILU vs. USOI - Yearly Performance Comparison

	2026 (YTD)	2025	2024
OILU MicroSectors Oil & Gas Exploration & Production 3X Leveraged ETN	96.53%	-16.50%	-30.91%
USOI Credit Suisse X-Links Crude Oil Shares Covered Call ETN	50.53%	-8.78%	6.94%

Correlation

The correlation between OILU and USOI is 0.64, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.64
Correlation (All Time) Calculated using the full available price history since Jun 4, 2024	0.60

The correlation between OILU and USOI has been stable across timeframes, ranging from 0.60 to 0.64 - a consistent structural relationship.

Return for Risk

OILU vs. USOI — Risk / Return Rank

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

OILU

OILU Risk / Return Rank: 52
OILU Sharpe Ratio Rank: 54
OILU Sortino Ratio Rank: 45
OILU Omega Ratio Rank: 42
OILU Calmar Ratio Rank: 69
OILU Martin Ratio Rank: 51

USOI

USOI Risk / Return Rank: 64
USOI Sharpe Ratio Rank: 66
USOI Sortino Ratio Rank: 60
USOI Omega Ratio Rank: 60
USOI Calmar Ratio Rank: 80
USOI Martin Ratio Rank: 55

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.

OILU vs. USOI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for MicroSectors Oil & Gas Exploration & Production 3X Leveraged ETN (OILU) 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.

	OILU	USOI	Difference
Sharpe ratio: Return per unit of total volatility	1.87	2.23	-0.36
Sortino ratio: Return per unit of downside risk	2.25	2.86	-0.61
Omega ratio: Gain probability vs. loss probability	1.28	1.37	-0.10
Calmar ratio: Return relative to maximum drawdown	3.48	4.20	-0.72
Martin ratio: Return relative to average drawdown	8.74	9.74	-1.00
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

OILU vs. USOI - Sharpe Ratio Comparison

The current OILU Sharpe Ratio is 1.87, which is comparable to the USOI Sharpe Ratio of 2.23. The chart below compares the historical Sharpe Ratios of OILU 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

	OILU	USOI	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.87	2.23	-0.36
Sharpe Ratio (All Time) Calculated using the full available price history	0.17	0.94	-0.78

Drawdowns

OILU vs. USOI - Drawdown Comparison

The maximum OILU drawdown since its inception was -81.00%, which is greater than USOI's maximum drawdown of -19.49%. Use the drawdown chart below to compare losses from any high point for OILU and USOI.

Drawdown Indicators

	OILU	USOI	Difference
Max Drawdown Largest peak-to-trough decline	-81.00%	-19.49%	-61.51%
Max Drawdown (1Y) Largest decline over 1 year	-33.51%	-11.90%	-21.61%
Max Drawdown (3Y) Largest decline over 3 years	-69.09%	—	—
Current Drawdown Current decline from peak	-47.14%	-3.08%	-44.06%
Average Drawdown Average peak-to-trough decline	-50.59%	-7.21%	-43.38%
Ulcer Index Depth and duration of drawdowns from previous peaks	13.32%	5.12%	+8.20%

Volatility

OILU vs. USOI - Volatility Comparison

MicroSectors Oil & Gas Exploration & Production 3X Leveraged ETN (OILU) has a higher volatility of 25.14% compared to Credit Suisse X-Links Crude Oil Shares Covered Call ETN (USOI) at 10.14%. This indicates that OILU'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.

Volatility by Period

	OILU	USOI	Difference
Volatility (1M) Calculated over the trailing 1-month period	25.14%	10.14%	+15.00%
Volatility (6M) Calculated over the trailing 6-month period	49.94%	18.25%	+31.69%
Volatility (1Y) Calculated over the trailing 1-year period	62.23%	22.35%	+39.88%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	81.16%	22.59%	+58.57%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	81.16%	22.59%	+58.57%

OILU vs. USOI - Expense Ratio Comparison

OILU has a 0.95% expense ratio, which is higher than USOI's 0.85% expense ratio.

Dividends

OILU vs. USOI - Dividend Comparison

OILU has not paid dividends to shareholders, while USOI's dividend yield for the trailing twelve months is around 36.88%.

Position	TTM	2025	2024
OILU MicroSectors Oil & Gas Exploration & Production 3X Leveraged ETN	0.00%	0.00%	0.00%
USOI Credit Suisse X-Links Crude Oil Shares Covered Call ETN	36.88%	27.21%	12.54%

Frequently Asked Questions

Can I hold both OILU and USOI in my portfolio?

OILU and USOI have a correlation of 0.64, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, OILU or USOI?

OILU has higher volatility (25.14%) compared to USOI (10.14%). In terms of maximum drawdown, OILU dropped -81.00% vs USOI's -19.49%.

Which ETF is better, OILU or USOI?

On 1-year performance, OILU leads with 115.83% vs 49.69% for USOI. On fees, USOI is cheaper at 0.85% per year. On volatility, USOI has been the lower-risk option at 10.14%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, OILU or USOI?

Over the 1-year period, OILU has performed better with a 115.83% return vs 49.69%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, OILU or USOI?

USOI is cheaper with a 0.85% expense ratio, compared with 0.95% for OILU.

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

USOI has the higher dividend yield at 36.88%, compared with 0.00% for OILU.

What is the main difference between OILU and USOI?

OILU is categorized as Leveraged Commodities, while USOI is Commodities. They also come from different issuers: BMO and Credit Suisse. Their fees differ too: 0.95% for OILU and 0.85% for USOI.

Which has better risk-adjusted returns?

USOI currently has the higher Sharpe Ratio (2.23 vs 1.87), 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.