USOI vs. BTOT

Last updated Jul 16, 2026

USOI (Credit Suisse X-Links Crude Oil Shares Covered Call ETN) and BTOT (iShares Total USD Fixed Income Market ETF) are both exchange-traded funds - USOI is a Oil & Gas fund tracking the Credit Suisse NASDAQ WTI Crude Oil FLOWS 106 Index, while BTOT is a Total Bond Market fund tracking the Bloomberg US Total Fixed Income Market Index. Both are passively managed. At a correlation of -0.43, they often move in opposite directions. USOI charges 0.85%/yr vs 0.09%/yr for BTOT.

Performance

USOI vs. BTOT - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Credit Suisse X-Links Crude Oil Shares Covered Call ETN (USOI) and iShares Total USD Fixed Income Market ETF (BTOT). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, USOI achieves a 30.79% return, which is significantly higher than BTOT's 0.51% return.

USOI

• 1D: 0.13%
• 1M: -3.85%
• 6M: 27.39%
• YTD: 30.79%
• 1Y: 25.92%
• 3Y*: —
• 5Y*: —
• 10Y*: —

BTOT

• 1D: 0.17%
• 1M: -0.29%
• 6M: 0.13%
• YTD: 0.51%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

USOI vs. BTOT - Yearly Performance Comparison

	2026 (YTD)	2025
USOI Credit Suisse X-Links Crude Oil Shares Covered Call ETN	30.79%	-1.40%
BTOT iShares Total USD Fixed Income Market ETF	0.51%	0.12%

Correlation

The correlation between USOI and BTOT is -0.43, 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 (All Time) Calculated using the full available price history since Dec 11, 2025	-0.43

Return for Risk

USOI vs. BTOT — Risk / Return Rank

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

USOI

USOI Risk / Return Rank: 32
USOI Sharpe Ratio Rank: 35
USOI Sortino Ratio Rank: 34
USOI Omega Ratio Rank: 33
USOI Calmar Ratio Rank: 27
USOI Martin Ratio Rank: 30

BTOT

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

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.

USOI vs. BTOT - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Credit Suisse X-Links Crude Oil Shares Covered Call ETN (USOI) and iShares Total USD Fixed Income Market ETF (BTOT). 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.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

	USOI	BTOT	Difference
Sharpe ratio: Return per unit of total volatility	1.04	—	—
Sortino ratio: Return per unit of downside risk	1.51	—	—
Omega ratio: Gain probability vs. loss probability	1.19	—	—
Calmar ratio: Return relative to maximum drawdown	1.11	—	—
Martin ratio: Return relative to average drawdown	3.41	—	—

Drawdowns

USOI vs. BTOT - Drawdown Comparison

The maximum USOI drawdown since its inception was -23.54%, which is greater than BTOT's maximum drawdown of -2.36%. Use the drawdown chart below to compare losses from any high point for USOI and BTOT.

Drawdown Indicators

	USOI	BTOT	Difference
Max Drawdown Largest peak-to-trough decline	-23.54%	-2.36%	-21.18%
Max Drawdown (1Y) Largest decline over 1 year	-23.54%	—	—
Current Drawdown Current decline from peak	-15.79%	-1.07%	-14.72%
Average Drawdown Average peak-to-trough decline	-7.69%	-0.80%	-6.89%
Ulcer Index Depth and duration of drawdowns from previous peaks	7.63%	—	—

Volatility

Volatility by Period

	USOI	BTOT	Difference
Volatility (1M) Calculated over the trailing 1-month period	10.62%	—	—
Volatility (6M) Calculated over the trailing 6-month period	20.59%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	24.95%	3.66%	+21.29%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	23.54%	3.66%	+19.88%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	23.54%	3.66%	+19.88%

USOI vs. BTOT - Expense Ratio Comparison

USOI has a 0.85% expense ratio, which is higher than BTOT's 0.09% expense ratio.

Dividends

USOI vs. BTOT - Dividend Comparison

USOI's dividend yield for the trailing twelve months is around 45.80%, more than BTOT's 2.50% yield.

Position	TTM	2025	2024
BTOT iShares Total USD Fixed Income Market ETF	2.50%	0.22%	0.00%
USOI Credit Suisse X-Links Crude Oil Shares Covered Call ETN	45.80%	27.21%	12.54%

Frequently Asked Questions

Can I hold both USOI and BTOT in my portfolio?

USOI and BTOT have a correlation of -0.43, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, USOI or BTOT?

On fees, BTOT is cheaper at 0.09% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, USOI or BTOT?

BTOT is cheaper with a 0.09% expense ratio, compared with 0.85% for USOI.

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

USOI has the higher dividend yield at 45.80%, compared with 2.50% for BTOT.

What is the main difference between USOI and BTOT?

USOI is categorized as Oil & Gas, while BTOT is Total Bond Market. USOI tracks Credit Suisse NASDAQ WTI Crude Oil FLOWS 106 Index, while BTOT tracks Bloomberg US Total Fixed Income Market Index. They also come from different issuers: Credit Suisse and iShares. Their fees differ too: 0.85% for USOI and 0.09% for BTOT.