USOI vs. SPIB
USOI (Credit Suisse X-Links Crude Oil Shares Covered Call ETN) and SPIB (SPDR Portfolio Intermediate Term Corporate Bond ETF) are both exchange-traded funds - USOI is a Oil & Gas fund tracking the Credit Suisse NASDAQ WTI Crude Oil FLOWS 106 Index, while SPIB is a Corporate Bonds fund tracking the Bloomberg U.S. Intermediate Corporate Bond Index. Both are passively managed. Over the past year, USOI returned 25.92% vs 4.58% for SPIB. At a correlation of -0.23, they often move in opposite directions. USOI charges 0.85%/yr vs 0.04%/yr for SPIB.
Performance
USOI vs. SPIB - Performance Comparison
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Returns By Period
In the year-to-date period, USOI achieves a 30.79% return, which is significantly higher than SPIB's 0.63% return.
USOI
- 1D
- 0.13%
- 1M
- -3.85%
- 6M
- 27.39%
- YTD
- 30.79%
- 1Y
- 25.92%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
SPIB
- 1D
- 0.21%
- 1M
- -0.07%
- 6M
- 0.36%
- YTD
- 0.63%
- 1Y
- 4.58%
- 3Y*
- 5.75%
- 5Y*
- 1.69%
- 10Y*
- 2.76%
USOI vs. SPIB - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
USOI Credit Suisse X-Links Crude Oil Shares Covered Call ETN | 30.79% | -8.78% | 3.24% |
SPIB SPDR Portfolio Intermediate Term Corporate Bond ETF | 0.63% | 7.91% | 3.89% |
Correlation
The correlation between USOI and SPIB is -0.38, 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 | -0.38 |
Correlation (All Time) Calculated using the full available price history since Jun 3, 2024 | -0.23 |
The correlation between USOI and SPIB shifts across timeframes, from -0.38 (1 year) to -0.23 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
USOI vs. SPIB — Risk / Return Rank
USOI
SPIB
USOI vs. SPIB - 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 SPDR Portfolio Intermediate Term Corporate Bond ETF (SPIB). 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 | SPIB | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.57 | ||
| Sortino ratioReturn per unit of downside risk | -0.90 | ||
| Omega ratioGain probability vs. loss probability | 1.19 | 1.29 | -0.11 |
| Calmar ratioReturn relative to maximum drawdown | 1.11 | 2.28 | -1.17 |
| Martin ratioReturn relative to average drawdown | 3.41 | 7.45 | -4.05 |
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Drawdowns
USOI vs. SPIB - Drawdown Comparison
The maximum USOI drawdown since its inception was -23.54%, which is greater than SPIB's maximum drawdown of -14.94%. Use the drawdown chart below to compare losses from any high point for USOI and SPIB.
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Drawdown Indicators
| USOI | SPIB | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -23.54% | -14.94% | -8.60% |
Max Drawdown (1Y)Largest decline over 1 year | -23.54% | -2.02% | -21.52% |
Max Drawdown (3Y)Largest decline over 3 years | — | -3.12% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -14.80% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -14.94% | — |
Current DrawdownCurrent decline from peak | -15.79% | -0.61% | -15.18% |
Average DrawdownAverage peak-to-trough decline | -7.69% | -1.90% | -5.79% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 7.63% | 0.62% | +7.01% |
Volatility
USOI vs. SPIB - Volatility Comparison
Credit Suisse X-Links Crude Oil Shares Covered Call ETN (USOI) has a higher volatility of 10.62% compared to SPDR Portfolio Intermediate Term Corporate Bond ETF (SPIB) at 0.87%. This indicates that USOI's price experiences larger fluctuations and is considered to be riskier than SPIB based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| USOI | SPIB | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 10.62% | 0.87% | +9.75% |
Volatility (6M)Calculated over the trailing 6-month period | 20.59% | 2.27% | +18.32% |
Volatility (1Y)Calculated over the trailing 1-year period | 24.95% | 2.87% | +22.08% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 23.54% | 4.48% | +19.06% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 23.54% | 4.60% | +18.94% |
USOI vs. SPIB - Expense Ratio Comparison
USOI has a 0.85% expense ratio, which is higher than SPIB's 0.04% expense ratio.
Dividends
USOI vs. SPIB - Dividend Comparison
USOI's dividend yield for the trailing twelve months is around 45.80%, more than SPIB's 4.47% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
SPIB SPDR Portfolio Intermediate Term Corporate Bond ETF | 4.47% | 4.42% | 4.41% | 3.84% | 2.65% | 1.58% | 2.18% | 3.03% | 3.04% | 2.79% | 2.68% | 2.69% |
USOI Credit Suisse X-Links Crude Oil Shares Covered Call ETN | 45.80% | 27.21% | 12.54% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
USOI and SPIB 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.
USOI has higher volatility (10.62%) compared to SPIB (0.87%). In terms of maximum drawdown, USOI dropped -23.54% vs SPIB's -14.94%.
On 1-year performance, USOI leads with 25.92% vs 4.58% for SPIB. On fees, SPIB is cheaper at 0.04% per year. On volatility, SPIB has been the lower-risk option at 0.87%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, USOI has performed better with a 25.92% return vs 4.58%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
SPIB is cheaper with a 0.04% expense ratio, compared with 0.85% for USOI.
USOI has the higher dividend yield at 45.80%, compared with 4.47% for SPIB.
USOI is categorized as Oil & Gas, while SPIB is Corporate Bonds. USOI tracks Credit Suisse NASDAQ WTI Crude Oil FLOWS 106 Index, while SPIB tracks Bloomberg U.S. Intermediate Corporate Bond Index. They also come from different issuers: Credit Suisse and State Street. Their fees differ too: 0.85% for USOI and 0.04% for SPIB.
SPIB currently has the higher Sharpe Ratio (1.61 vs 1.04), 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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