VGMS vs. USOI

Last updated Jun 4, 2026

VGMS (Vanguard Multi-Sector Income Bond ETF) and USOI (Credit Suisse X-Links Crude Oil Shares Covered Call ETN) are both exchange-traded funds - VGMS is a Multisector Bonds fund actively managed by Vanguard, while USOI is a Commodities fund tracking the Credit Suisse NASDAQ WTI Crude Oil FLOWS 106 Index. VGMS is actively managed, while USOI is passively managed. At a correlation of -0.33, they often move in opposite directions. VGMS charges 0.30%/yr vs 0.85%/yr for USOI.

Performance

VGMS vs. USOI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Vanguard Multi-Sector Income Bond ETF (VGMS) 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, VGMS achieves a 1.06% return, which is significantly lower than USOI's 50.53% return.

VGMS

• 1D: -0.36%
• 1M: 0.29%
• YTD: 1.06%
• 6M: 1.35%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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)

VGMS vs. USOI - Yearly Performance Comparison

	2026 (YTD)	2025
VGMS Vanguard Multi-Sector Income Bond ETF	1.06%	5.44%
USOI Credit Suisse X-Links Crude Oil Shares Covered Call ETN	50.53%	-2.52%

Correlation

The correlation between VGMS and USOI is -0.33, 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 (All Time) Calculated using the full available price history since Jun 12, 2025	-0.33

Return for Risk

VGMS vs. USOI — Risk / Return Rank

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

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.

VGMS vs. USOI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Vanguard Multi-Sector Income Bond ETF (VGMS) 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.

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

Sharpe Ratios by Period

	VGMS	USOI	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	2.23	—
Sharpe Ratio (All Time) Calculated using the full available price history	2.11	0.94	+1.16

Drawdowns

VGMS vs. USOI - Drawdown Comparison

The maximum VGMS drawdown since its inception was -2.46%, smaller than the maximum USOI drawdown of -19.49%. Use the drawdown chart below to compare losses from any high point for VGMS and USOI.

Drawdown Indicators

	VGMS	USOI	Difference
Max Drawdown Largest peak-to-trough decline	-2.46%	-19.49%	+17.03%
Max Drawdown (1Y) Largest decline over 1 year	—	-11.90%	—
Current Drawdown Current decline from peak	-0.39%	-3.08%	+2.69%
Average Drawdown Average peak-to-trough decline	-0.31%	-7.21%	+6.90%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	5.12%	—

Volatility

Volatility by Period

	VGMS	USOI	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	10.14%	—
Volatility (6M) Calculated over the trailing 6-month period	—	18.25%	—
Volatility (1Y) Calculated over the trailing 1-year period	3.21%	22.35%	-19.14%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	3.21%	22.59%	-19.38%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	3.21%	22.59%	-19.38%

VGMS vs. USOI - Expense Ratio Comparison

VGMS has a 0.30% expense ratio, which is lower than USOI's 0.85% expense ratio.

Dividends

VGMS vs. USOI - Dividend Comparison

VGMS's dividend yield for the trailing twelve months is around 5.16%, less than USOI's 36.88% yield.

Position	TTM	2025	2024
USOI Credit Suisse X-Links Crude Oil Shares Covered Call ETN	36.88%	27.21%	12.54%
VGMS Vanguard Multi-Sector Income Bond ETF	5.16%	2.94%	0.00%

Frequently Asked Questions

Can I hold both VGMS and USOI in my portfolio?

VGMS and USOI have a correlation of -0.33, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, VGMS or USOI?

On fees, VGMS is cheaper at 0.30% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, VGMS or USOI?

VGMS is cheaper with a 0.30% expense ratio, compared with 0.85% for USOI.

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

USOI has the higher dividend yield at 36.88%, compared with 5.16% for VGMS.

What is the main difference between VGMS and USOI?

VGMS is categorized as Multisector Bonds, while USOI is Commodities. They also come from different issuers: Vanguard and Credit Suisse. Their fees differ too: 0.30% for VGMS and 0.85% for USOI.