SCLS vs. USOI

Last updated Jun 6, 2026

SCLS (Stoneport Advisors Commodity Long Short ETF) and USOI (Credit Suisse X-Links Crude Oil Shares Covered Call ETN) are both Commodities funds - SCLS tracks the Stoneport Advisors Dynamic Commodity Index - Total Return while USOI tracks the Credit Suisse NASDAQ WTI Crude Oil FLOWS 106 Index. Both are passively managed. At a 0.42 correlation, their price movements are largely independent. SCLS charges 1.10%/yr vs 0.85%/yr for USOI.

Performance

SCLS vs. USOI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Stoneport Advisors Commodity Long Short ETF (SCLS) 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, SCLS achieves a 21.94% return, which is significantly lower than USOI's 43.91% return.

SCLS

• 1D: -0.49%
• 1M: -1.08%
• YTD: 21.94%
• 6M: 21.39%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

USOI

• 1D: -2.40%
• 1M: 3.02%
• YTD: 43.91%
• 6M: 39.35%
• 1Y: 42.28%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

SCLS vs. USOI - Yearly Performance Comparison

	2026 (YTD)	2025
SCLS Stoneport Advisors Commodity Long Short ETF	21.94%	1.61%
USOI Credit Suisse X-Links Crude Oil Shares Covered Call ETN	43.91%	-2.36%

Correlation

The correlation between SCLS and USOI is 0.42, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (All Time) Calculated using the full available price history since Nov 5, 2025	0.42

Return for Risk

SCLS vs. USOI — Risk / Return Rank

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

USOI

USOI Risk / Return Rank: 57
USOI Sharpe Ratio Rank: 57
USOI Sortino Ratio Rank: 53
USOI Omega Ratio Rank: 53
USOI Calmar Ratio Rank: 73
USOI Martin Ratio Rank: 50

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.

SCLS vs. USOI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Stoneport Advisors Commodity Long Short ETF (SCLS) 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.

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

Sharpe Ratios by Period

	SCLS	USOI	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	1.88	—
Sharpe Ratio (All Time) Calculated using the full available price history	2.39	0.82	+1.57

Drawdowns

SCLS vs. USOI - Drawdown Comparison

The maximum SCLS drawdown since its inception was -7.90%, smaller than the maximum USOI drawdown of -19.49%. Use the drawdown chart below to compare losses from any high point for SCLS and USOI.

Drawdown Indicators

	SCLS	USOI	Difference
Max Drawdown Largest peak-to-trough decline	-7.90%	-19.49%	+11.59%
Max Drawdown (1Y) Largest decline over 1 year	—	-11.90%	—
Current Drawdown Current decline from peak	-4.41%	-7.34%	+2.93%
Average Drawdown Average peak-to-trough decline	-1.37%	-7.20%	+5.83%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	5.15%	—

Volatility

Volatility by Period

	SCLS	USOI	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	9.43%	—
Volatility (6M) Calculated over the trailing 6-month period	—	18.54%	—
Volatility (1Y) Calculated over the trailing 1-year period	18.77%	22.60%	-3.83%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.77%	22.66%	-3.89%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.77%	22.66%	-3.89%

SCLS vs. USOI - Expense Ratio Comparison

SCLS has a 1.10% expense ratio, which is higher than USOI's 0.85% expense ratio.

Dividends

SCLS vs. USOI - Dividend Comparison

SCLS's dividend yield for the trailing twelve months is around 0.32%, less than USOI's 38.58% yield.

Position	TTM	2025	2024
SCLS Stoneport Advisors Commodity Long Short ETF	0.32%	0.39%	0.00%
USOI Credit Suisse X-Links Crude Oil Shares Covered Call ETN	38.58%	27.21%	12.54%

Frequently Asked Questions

Can I hold both SCLS and USOI in my portfolio?

SCLS and USOI have a correlation of 0.42, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, SCLS or USOI?

On fees, USOI is cheaper at 0.85% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, SCLS or USOI?

USOI is cheaper with a 0.85% expense ratio, compared with 1.10% for SCLS.

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

USOI has the higher dividend yield at 38.58%, compared with 0.32% for SCLS.

What is the main difference between SCLS and USOI?

SCLS tracks Stoneport Advisors Dynamic Commodity Index - Total Return, while USOI tracks Credit Suisse NASDAQ WTI Crude Oil FLOWS 106 Index. They also come from different issuers: Stoneport Advisors and Credit Suisse. Their fees differ too: 1.10% for SCLS and 0.85% for USOI.