UTG vs. USOI

Last updated Jun 4, 2026

UTG (Reaves Utility Income Trust) is a stock, while USOI (Credit Suisse X-Links Crude Oil Shares Covered Call ETN) is Commodities fund tracking the Credit Suisse NASDAQ WTI Crude Oil FLOWS 106 Index. Over the past year, UTG returned 27.73% vs 49.69% for USOI. At a correlation of -0.01, they often move in opposite directions.

Performance

UTG vs. USOI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Reaves Utility Income Trust (UTG) and Credit Suisse X-Links Crude Oil Shares Covered Call ETN (USOI). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, UTG achieves a 16.83% return, which is significantly lower than USOI's 50.53% return.

UTG

• 1D: -0.12%
• 1M: -2.28%
• YTD: 16.83%
• 6M: 14.83%
• 1Y: 27.73%
• 3Y*: 24.38%
• 5Y*: 11.47%
• 10Y*: 10.70%

USOI

• 1D: 1.94%
• 1M: 2.54%
• YTD: 50.53%
• 6M: 48.65%
• 1Y: 49.69%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

UTG vs. USOI - Yearly Performance Comparison

	2026 (YTD)	2025	2024
UTG Reaves Utility Income Trust	16.83%	23.24%	18.21%
USOI Credit Suisse X-Links Crude Oil Shares Covered Call ETN	50.53%	-8.78%	6.94%

Correlation

The correlation between UTG and USOI is -0.08, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	-0.08
Correlation (All Time) Calculated using the full available price history since Jun 4, 2024	-0.01

Return for Risk

UTG vs. USOI — Risk / Return Rank

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

UTG

UTG Risk / Return Rank: 78
UTG Sharpe Ratio Rank: 84
UTG Sortino Ratio Rank: 77
UTG Omega Ratio Rank: 77
UTG Calmar Ratio Rank: 77
UTG Martin Ratio Rank: 76

USOI

USOI Risk / Return Rank: 64
USOI Sharpe Ratio Rank: 66
USOI Sortino Ratio Rank: 60
USOI Omega Ratio Rank: 60
USOI Calmar Ratio Rank: 80
USOI Martin Ratio Rank: 55

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.

UTG vs. USOI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Reaves Utility Income Trust (UTG) and Credit Suisse X-Links Crude Oil Shares Covered Call ETN (USOI). 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.

	UTG	USOI	Difference
Sharpe ratio: Return per unit of total volatility	1.67	2.23	-0.56
Sortino ratio: Return per unit of downside risk	2.16	2.86	-0.70
Omega ratio: Gain probability vs. loss probability	1.29	1.37	-0.08
Calmar ratio: Return relative to maximum drawdown	2.40	4.20	-1.79
Martin ratio: Return relative to average drawdown	5.36	9.74	-4.38
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

UTG vs. USOI - Sharpe Ratio Comparison

The current UTG Sharpe Ratio is 1.67, which is comparable to the USOI Sharpe Ratio of 2.23. The chart below compares the historical Sharpe Ratios of UTG and USOI, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	UTG	USOI	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.67	2.23	-0.56
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.69	—	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.50	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.48	0.94	-0.46

Drawdowns

UTG vs. USOI - Drawdown Comparison

The maximum UTG drawdown since its inception was -67.77%, which is greater than USOI's maximum drawdown of -19.49%. Use the drawdown chart below to compare losses from any high point for UTG and USOI.

Drawdown Indicators

	UTG	USOI	Difference
Max Drawdown Largest peak-to-trough decline	-67.77%	-19.49%	-48.28%
Max Drawdown (1Y) Largest decline over 1 year	-11.59%	-11.90%	+0.31%
Max Drawdown (3Y) Largest decline over 3 years	-15.03%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-26.54%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-47.91%	—	—
Current Drawdown Current decline from peak	-3.53%	-3.08%	-0.45%
Average Drawdown Average peak-to-trough decline	-8.74%	-7.21%	-1.53%
Ulcer Index Depth and duration of drawdowns from previous peaks	5.18%	5.12%	+0.06%

Volatility

UTG vs. USOI - Volatility Comparison

The current volatility for Reaves Utility Income Trust (UTG) is 6.08%, while Credit Suisse X-Links Crude Oil Shares Covered Call ETN (USOI) has a volatility of 10.14%. This indicates that UTG experiences smaller price fluctuations and is considered to be less risky than USOI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	UTG	USOI	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.08%	10.14%	-4.06%
Volatility (6M) Calculated over the trailing 6-month period	12.74%	18.25%	-5.51%
Volatility (1Y) Calculated over the trailing 1-year period	16.65%	22.35%	-5.70%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.80%	22.59%	-5.79%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	21.59%	22.59%	-1.00%

Dividends

UTG vs. USOI - Dividend Comparison

UTG's dividend yield for the trailing twelve months is around 5.70%, less than USOI's 36.88% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
USOI Credit Suisse X-Links Crude Oil Shares Covered Call ETN	36.88%	27.21%	12.54%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
UTG Reaves Utility Income Trust	5.70%	6.42%	7.19%	8.53%	8.07%	6.35%	6.59%	5.69%	6.86%	6.21%	9.02%	6.86%

Frequently Asked Questions

Can I hold both UTG and USOI in my portfolio?

UTG and USOI have a correlation of -0.08, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, UTG or USOI?

USOI has higher volatility (10.14%) compared to UTG (6.08%). In terms of maximum drawdown, UTG dropped -67.77% vs USOI's -19.49%.

Which has better risk-adjusted returns?

USOI currently has the higher Sharpe Ratio (2.23 vs 1.67), 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.