USOI vs. FAAR
USOI (Credit Suisse X-Links Crude Oil Shares Covered Call ETN) and FAAR (First Trust Alternative Absolute Return Strategy ETF) are both exchange-traded funds - USOI is a Oil & Gas fund tracking the Credit Suisse NASDAQ WTI Crude Oil FLOWS 106 Index, while FAAR is a Commodities fund actively managed by First Trust. USOI is passively managed, while FAAR is actively managed. Over the past year, USOI returned 21.77% vs 28.26% for FAAR. A 0.62 correlation means they provide meaningful diversification when combined. USOI charges 0.85%/yr vs 0.95%/yr for FAAR.
Performance
USOI vs. FAAR - Performance Comparison
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Returns By Period
In the year-to-date period, USOI achieves a 21.35% return, which is significantly higher than FAAR's 17.40% return.
USOI
- 1D
- -4.24%
- 1M
- -17.61%
- YTD
- 21.35%
- 6M
- 20.14%
- 1Y
- 21.77%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
FAAR
- 1D
- -1.46%
- 1M
- -6.59%
- YTD
- 17.40%
- 6M
- 17.10%
- 1Y
- 28.26%
- 3Y*
- 10.03%
- 5Y*
- 7.50%
- 10Y*
- 4.54%
USOI vs. FAAR - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
USOI Credit Suisse X-Links Crude Oil Shares Covered Call ETN | 21.35% | -8.78% | 3.24% |
FAAR First Trust Alternative Absolute Return Strategy ETF | 17.40% | 8.07% | 1.90% |
Correlation
The correlation between USOI and FAAR is 0.67, 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 | 0.67 |
Correlation (All Time) Calculated using the full available price history since Jun 3, 2024 | 0.62 |
The correlation between USOI and FAAR has been stable across timeframes, ranging from 0.62 to 0.67 - a consistent structural relationship.
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Return for Risk
USOI vs. FAAR — Risk / Return Rank
USOI
FAAR
USOI vs. FAAR - 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 First Trust Alternative Absolute Return Strategy ETF (FAAR). 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 | FAAR | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.23 | ||
| Sortino ratioReturn per unit of downside risk | -1.74 | ||
| Omega ratioGain probability vs. loss probability | 1.17 | 1.37 | -0.20 |
| Calmar ratioReturn relative to maximum drawdown | 1.00 | 3.71 | -2.71 |
| Martin ratioReturn relative to average drawdown | 3.65 | 14.66 | -11.01 |
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Drawdowns
USOI vs. FAAR - Drawdown Comparison
The maximum USOI drawdown since its inception was -21.86%, which is greater than FAAR's maximum drawdown of -18.03%. Use the drawdown chart below to compare losses from any high point for USOI and FAAR.
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Drawdown Indicators
| USOI | FAAR | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -21.86% | -18.03% | -3.83% |
Max Drawdown (1Y)Largest decline over 1 year | -21.86% | -7.66% | -14.20% |
Max Drawdown (3Y)Largest decline over 3 years | — | -11.54% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -18.03% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -18.03% | — |
Current DrawdownCurrent decline from peak | -21.86% | -7.66% | -14.20% |
Average DrawdownAverage peak-to-trough decline | -7.35% | -7.82% | +0.47% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 5.97% | 1.93% | +4.04% |
Volatility
USOI vs. FAAR - Volatility Comparison
Credit Suisse X-Links Crude Oil Shares Covered Call ETN (USOI) has a higher volatility of 9.75% compared to First Trust Alternative Absolute Return Strategy ETF (FAAR) at 2.82%. This indicates that USOI's price experiences larger fluctuations and is considered to be riskier than FAAR based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| USOI | FAAR | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 9.75% | 2.82% | +6.93% |
Volatility (6M)Calculated over the trailing 6-month period | 19.74% | 9.80% | +9.94% |
Volatility (1Y)Calculated over the trailing 1-year period | 23.82% | 13.30% | +10.52% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 23.17% | 12.97% | +10.20% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 23.17% | 11.55% | +11.62% |
USOI vs. FAAR - Expense Ratio Comparison
USOI has a 0.85% expense ratio, which is lower than FAAR's 0.95% expense ratio.
Dividends
USOI vs. FAAR - Dividend Comparison
USOI's dividend yield for the trailing twelve months is around 49.36%, more than FAAR's 9.80% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
FAAR First Trust Alternative Absolute Return Strategy ETF | 9.80% | 11.63% | 3.45% | 3.20% | 5.82% | 6.49% | 3.05% | 1.02% | 0.58% | 2.83% |
USOI Credit Suisse X-Links Crude Oil Shares Covered Call ETN | 49.36% | 27.21% | 12.54% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
USOI and FAAR have a correlation of 0.67, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
USOI has higher volatility (9.75%) compared to FAAR (2.82%). In terms of maximum drawdown, USOI dropped -21.86% vs FAAR's -18.03%.
On 1-year performance, FAAR leads with 28.26% vs 21.77% for USOI. On fees, USOI is cheaper at 0.85% per year. On volatility, FAAR has been the lower-risk option at 2.82%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, FAAR has performed better with a 28.26% return vs 21.77%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
USOI is cheaper with a 0.85% expense ratio, compared with 0.95% for FAAR.
USOI has the higher dividend yield at 49.36%, compared with 9.80% for FAAR.
USOI is categorized as Oil & Gas, while FAAR is Commodities. They also come from different issuers: Credit Suisse and First Trust. Their fees differ too: 0.85% for USOI and 0.95% for FAAR.
FAAR currently has the higher Sharpe Ratio (2.15 vs 0.92), 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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