USOI vs. MLPI

Last updated Jun 5, 2026

USOI (Credit Suisse X-Links Crude Oil Shares Covered Call ETN) and MLPI (Neos MLP & Energy Infrastructure High Income ETF) are both exchange-traded funds - USOI is a Commodities fund tracking the Credit Suisse NASDAQ WTI Crude Oil FLOWS 106 Index, while MLPI is a Energy Equities fund actively managed by Neos. USOI is passively managed, while MLPI is actively managed. At a 0.38 correlation, their price movements are largely independent. USOI charges 0.85%/yr vs 0.68%/yr for MLPI.

Performance

USOI vs. MLPI - 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 Neos MLP & Energy Infrastructure High Income ETF (MLPI). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, USOI achieves a 47.45% return, which is significantly higher than MLPI's 18.70% return.

USOI

• 1D: -2.04%
• 1M: 0.59%
• YTD: 47.45%
• 6M: 44.00%
• 1Y: 46.39%
• 3Y*: —
• 5Y*: —
• 10Y*: —

MLPI

• 1D: 0.96%
• 1M: -1.95%
• YTD: 18.70%
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

USOI vs. MLPI - Yearly Performance Comparison

	2026 (YTD)	2025
USOI Credit Suisse X-Links Crude Oil Shares Covered Call ETN	47.45%	2.82%
MLPI Neos MLP & Energy Infrastructure High Income ETF	18.70%	0.56%

Correlation

The correlation between USOI and MLPI is 0.38, 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 Dec 19, 2025	0.38

Return for Risk

USOI vs. MLPI — Risk / Return Rank

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

USOI

USOI Risk / Return Rank: 62
USOI Sharpe Ratio Rank: 63
USOI Sortino Ratio Rank: 58
USOI Omega Ratio Rank: 57
USOI Calmar Ratio Rank: 78
USOI Martin Ratio Rank: 54

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. MLPI - 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 Neos MLP & Energy Infrastructure High Income ETF (MLPI). 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.

	USOI	MLPI	Difference
Sharpe ratio: Return per unit of total volatility	2.08	—	—
Sortino ratio: Return per unit of downside risk	2.69	—	—
Omega ratio: Gain probability vs. loss probability	1.35	—	—
Calmar ratio: Return relative to maximum drawdown	3.92	—	—
Martin ratio: Return relative to average drawdown	9.08	—	—
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

Sharpe Ratios by Period

	USOI	MLPI	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.08	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.89	3.69	-2.80

Drawdowns

USOI vs. MLPI - Drawdown Comparison

The maximum USOI drawdown since its inception was -19.49%, which is greater than MLPI's maximum drawdown of -5.38%. Use the drawdown chart below to compare losses from any high point for USOI and MLPI.

Drawdown Indicators

	USOI	MLPI	Difference
Max Drawdown Largest peak-to-trough decline	-19.49%	-5.38%	-14.11%
Max Drawdown (1Y) Largest decline over 1 year	-11.90%	—	—
Current Drawdown Current decline from peak	-5.06%	-2.92%	-2.14%
Average Drawdown Average peak-to-trough decline	-7.20%	-1.28%	-5.92%
Ulcer Index Depth and duration of drawdowns from previous peaks	5.13%	—	—

Volatility

Volatility by Period

	USOI	MLPI	Difference
Volatility (1M) Calculated over the trailing 1-month period	10.37%	—	—
Volatility (6M) Calculated over the trailing 6-month period	18.34%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	22.46%	13.05%	+9.41%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	22.61%	13.05%	+9.56%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	22.61%	13.05%	+9.56%

USOI vs. MLPI - Expense Ratio Comparison

USOI has a 0.85% expense ratio, which is higher than MLPI's 0.68% expense ratio.

Dividends

USOI vs. MLPI - Dividend Comparison

USOI's dividend yield for the trailing twelve months is around 37.65%, more than MLPI's 5.99% yield.

Position	TTM	2025	2024
MLPI Neos MLP & Energy Infrastructure High Income ETF	5.99%	0.00%	0.00%
USOI Credit Suisse X-Links Crude Oil Shares Covered Call ETN	37.65%	27.21%	12.54%

Frequently Asked Questions

Can I hold both USOI and MLPI in my portfolio?

USOI and MLPI have a correlation of 0.38, 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 MLPI?

On fees, MLPI is cheaper at 0.68% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, USOI or MLPI?

MLPI is cheaper with a 0.68% expense ratio, compared with 0.85% for USOI.

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

USOI has the higher dividend yield at 37.65%, compared with 5.99% for MLPI.

What is the main difference between USOI and MLPI?

USOI is categorized as Commodities, while MLPI is Energy Equities. They also come from different issuers: Credit Suisse and Neos. Their fees differ too: 0.85% for USOI and 0.68% for MLPI.