USOI vs. YMAX

Last updated Apr 2, 2026

Compare and contrast key facts about Credit Suisse X-Links Crude Oil Shares Covered Call ETN (USOI) and YieldMax Universe Fund of Option Income ETFs (YMAX).

USOI and YMAX are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. USOI is a passively managed fund by Credit Suisse that tracks the performance of the Credit Suisse NASDAQ WTI Crude Oil FLOWS 106 Index. It was launched on Apr 25, 2017. YMAX is an actively managed fund by YieldMax. It was launched on Jan 16, 2024.

Performance

USOI vs. YMAX - 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 YieldMax Universe Fund of Option Income ETFs (YMAX). The values are adjusted to include any dividend payments, if applicable.

USOI vs. YMAX - Yearly Performance Comparison

	2026 (YTD)	2025	2024
USOI Credit Suisse X-Links Crude Oil Shares Covered Call ETN	26.76%	-8.78%	6.94%
YMAX YieldMax Universe Fund of Option Income ETFs	-13.50%	6.04%	10.36%

Returns By Period

In the year-to-date period, USOI achieves a 26.76% return, which is significantly higher than YMAX's -13.50% return.

USOI

• 1D: -0.94%
• 1M: 9.69%
• YTD: 26.76%
• 6M: 23.42%
• 1Y: 17.27%
• 3Y*: —
• 5Y*: —
• 10Y*: —

YMAX

• 1D: -0.42%
• 1M: -6.83%
• YTD: -13.50%
• 6M: -20.90%
• 1Y: 0.74%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

USOI vs. YMAX - Expense Ratio Comparison

USOI has a 0.85% expense ratio, which is lower than YMAX's 1.28% expense ratio.

YMAX

YieldMax Universe Fund of Option Income ETFs

USOI

Credit Suisse X-Links Crude Oil Shares Covered Call ETN

Return for Risk

USOI vs. YMAX — Risk / Return Rank

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

USOI

USOI Risk / Return Rank: 37
USOI Sharpe Ratio Rank: 41
USOI Sortino Ratio Rank: 39
USOI Omega Ratio Rank: 35
USOI Calmar Ratio Rank: 41
USOI Martin Ratio Rank: 29

YMAX

YMAX Risk / Return Rank: 13
YMAX Sharpe Ratio Rank: 12
YMAX Sortino Ratio Rank: 12
YMAX Omega Ratio Rank: 12
YMAX Calmar Ratio Rank: 14
YMAX Martin Ratio Rank: 14

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. YMAX - 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 YieldMax Universe Fund of Option Income ETFs (YMAX). 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	YMAX	Difference
Sharpe ratio Return per unit of total volatility	0.80	0.03	+0.77
Sortino ratio Return per unit of downside risk	1.17	0.22	+0.96
Omega ratio Gain probability vs. loss probability	1.15	1.03	+0.12
Calmar ratio Return relative to maximum drawdown	1.11	0.09	+1.02
Martin ratio Return relative to average drawdown	2.55	0.24	+2.31
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

USOI vs. YMAX - Sharpe Ratio Comparison

The current USOI Sharpe Ratio is 0.80, which is higher than the YMAX Sharpe Ratio of 0.03. The chart below compares the historical Sharpe Ratios of USOI and YMAX, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	USOI	YMAX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.80	0.03	+0.77
Sharpe Ratio (All Time) Calculated using the full available price history	0.59	0.30	+0.29

Correlation

The correlation between USOI and YMAX is 0.07, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.

Dividends

USOI vs. YMAX - Dividend Comparison

USOI's dividend yield for the trailing twelve months is around 21.40%, less than YMAX's 88.51% yield.

	TTM	2025	2024
USOI Credit Suisse X-Links Crude Oil Shares Covered Call ETN	21.40%	27.21%	12.54%
YMAX YieldMax Universe Fund of Option Income ETFs	88.51%	78.70%	44.20%

Drawdowns

USOI vs. YMAX - Drawdown Comparison

The maximum USOI drawdown since its inception was -19.49%, smaller than the maximum YMAX drawdown of -26.13%. Use the drawdown chart below to compare losses from any high point for USOI and YMAX.

Drawdown Indicators

	USOI	YMAX	Difference
Max Drawdown Largest peak-to-trough decline	-19.49%	-26.13%	+6.64%
Max Drawdown (1Y) Largest decline over 1 year	-15.60%	-26.13%	+10.53%
Current Drawdown Current decline from peak	-0.94%	-23.31%	+22.37%
Average Drawdown Average peak-to-trough decline	-7.67%	-5.88%	-1.79%
Ulcer Index Depth and duration of drawdowns from previous peaks	6.78%	9.72%	-2.94%

Volatility

USOI vs. YMAX - Volatility Comparison

The current volatility for Credit Suisse X-Links Crude Oil Shares Covered Call ETN (USOI) is 6.13%, while YieldMax Universe Fund of Option Income ETFs (YMAX) has a volatility of 9.79%. This indicates that USOI experiences smaller price fluctuations and is considered to be less risky than YMAX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	USOI	YMAX	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.13%	9.79%	-3.66%
Volatility (6M) Calculated over the trailing 6-month period	14.49%	17.65%	-3.16%
Volatility (1Y) Calculated over the trailing 1-year period	21.65%	25.33%	-3.68%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	21.10%	23.00%	-1.90%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	21.10%	23.00%	-1.90%