TSLW vs. USOI

Last updated Jun 4, 2026

TSLW (Roundhill TSLA WeeklyPay™ ETF) and USOI (Credit Suisse X-Links Crude Oil Shares Covered Call ETN) are both exchange-traded funds - TSLW is a Derivative Income fund actively managed by Roundhill, while USOI is a Commodities fund tracking the Credit Suisse NASDAQ WTI Crude Oil FLOWS 106 Index. TSLW is actively managed, while USOI is passively managed. Over the past year, TSLW returned 20.22% vs 49.69% for USOI. At a correlation of -0.12, they often move in opposite directions. TSLW charges 0.99%/yr vs 0.85%/yr for USOI.

Performance

TSLW vs. USOI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Roundhill TSLA WeeklyPay™ ETF (TSLW) 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, TSLW achieves a -9.26% return, which is significantly lower than USOI's 50.53% return.

TSLW

• 1D: -0.18%
• 1M: 9.09%
• YTD: -9.26%
• 6M: -9.14%
• 1Y: 20.22%
• 3Y*: —
• 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)

TSLW vs. USOI - Yearly Performance Comparison

	2026 (YTD)	2025
TSLW Roundhill TSLA WeeklyPay™ ETF	-9.26%	33.77%
USOI Credit Suisse X-Links Crude Oil Shares Covered Call ETN	50.53%	0.05%

Correlation

The correlation between TSLW and USOI is -0.12, 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	-0.12
Correlation (All Time) Calculated using the full available price history since Jun 3, 2025	-0.12

Return for Risk

TSLW vs. USOI — Risk / Return Rank

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

TSLW

TSLW Risk / Return Rank: 15
TSLW Sharpe Ratio Rank: 14
TSLW Sortino Ratio Rank: 17
TSLW Omega Ratio Rank: 17
TSLW Calmar Ratio Rank: 16
TSLW Martin Ratio Rank: 15

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.

TSLW vs. USOI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Roundhill TSLA WeeklyPay™ ETF (TSLW) 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.

	TSLW	USOI	Difference
Sharpe ratio: Return per unit of total volatility	0.37	2.23	-1.87
Sortino ratio: Return per unit of downside risk	0.87	2.86	-1.99
Omega ratio: Gain probability vs. loss probability	1.11	1.37	-0.27
Calmar ratio: Return relative to maximum drawdown	0.57	4.20	-3.63
Martin ratio: Return relative to average drawdown	1.29	9.74	-8.45
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

TSLW vs. USOI - Sharpe Ratio Comparison

The current TSLW Sharpe Ratio is 0.37, which is lower than the USOI Sharpe Ratio of 2.23. The chart below compares the historical Sharpe Ratios of TSLW 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

	TSLW	USOI	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.37	2.23	-1.87
Sharpe Ratio (All Time) Calculated using the full available price history	0.39	0.94	-0.56

Drawdowns

TSLW vs. USOI - Drawdown Comparison

The maximum TSLW drawdown since its inception was -35.80%, which is greater than USOI's maximum drawdown of -19.49%. Use the drawdown chart below to compare losses from any high point for TSLW and USOI.

Drawdown Indicators

	TSLW	USOI	Difference
Max Drawdown Largest peak-to-trough decline	-35.80%	-19.49%	-16.31%
Max Drawdown (1Y) Largest decline over 1 year	-35.80%	-11.90%	-23.90%
Current Drawdown Current decline from peak	-18.23%	-3.08%	-15.15%
Average Drawdown Average peak-to-trough decline	-12.88%	-7.21%	-5.67%
Ulcer Index Depth and duration of drawdowns from previous peaks	15.77%	5.12%	+10.65%

Volatility

TSLW vs. USOI - Volatility Comparison

Roundhill TSLA WeeklyPay™ ETF (TSLW) has a higher volatility of 14.56% compared to Credit Suisse X-Links Crude Oil Shares Covered Call ETN (USOI) at 10.14%. This indicates that TSLW'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

	TSLW	USOI	Difference
Volatility (1M) Calculated over the trailing 1-month period	14.56%	10.14%	+4.42%
Volatility (6M) Calculated over the trailing 6-month period	32.83%	18.25%	+14.58%
Volatility (1Y) Calculated over the trailing 1-year period	55.52%	22.35%	+33.17%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	55.52%	22.59%	+32.93%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	55.52%	22.59%	+32.93%

TSLW vs. USOI - Expense Ratio Comparison

TSLW has a 0.99% expense ratio, which is higher than USOI's 0.85% expense ratio.

Dividends

TSLW vs. USOI - Dividend Comparison

TSLW's dividend yield for the trailing twelve months is around 84.61%, more than USOI's 36.88% yield.

Position	TTM	2025	2024
TSLW Roundhill TSLA WeeklyPay™ ETF	84.61%	49.31%	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 TSLW and USOI in my portfolio?

TSLW and USOI have a correlation of -0.12, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, TSLW or USOI?

TSLW has higher volatility (14.56%) compared to USOI (10.14%). In terms of maximum drawdown, TSLW dropped -35.80% vs USOI's -19.49%.

Which ETF is better, TSLW or USOI?

On 1-year performance, USOI leads with 49.69% vs 20.22% for TSLW. 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, TSLW or USOI?

Over the 1-year period, USOI has performed better with a 49.69% return vs 20.22%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, TSLW or USOI?

USOI is cheaper with a 0.85% expense ratio, compared with 0.99% for TSLW.

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

TSLW has the higher dividend yield at 84.61%, compared with 36.88% for USOI.

What is the main difference between TSLW and USOI?

TSLW is categorized as Derivative Income, while USOI is Commodities. They also come from different issuers: Roundhill and Credit Suisse. Their fees differ too: 0.99% for TSLW and 0.85% for USOI.

Which has better risk-adjusted returns?

USOI currently has the higher Sharpe Ratio (2.23 vs 0.37), 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.