ZSC vs. USOI

Last updated Apr 1, 2026

Compare and contrast key facts about USCF Sustainable Commodity Strategy Fund (ZSC) and Credit Suisse X-Links Crude Oil Shares Covered Call ETN (USOI).

ZSC and USOI are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. ZSC is an actively managed fund by USCF. It was launched on Aug 8, 2023. 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.

Performance

ZSC vs. USOI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in USCF Sustainable Commodity Strategy Fund (ZSC) and Credit Suisse X-Links Crude Oil Shares Covered Call ETN (USOI). The values are adjusted to include any dividend payments, if applicable.

ZSC vs. USOI - Yearly Performance Comparison

	2026 (YTD)	2025	2024
ZSC USCF Sustainable Commodity Strategy Fund	4.85%	28.43%	-11.28%
USOI Credit Suisse X-Links Crude Oil Shares Covered Call ETN	27.96%	-8.78%	6.94%

Returns By Period

In the year-to-date period, ZSC achieves a 4.85% return, which is significantly lower than USOI's 27.96% return.

ZSC

• 1D: 0.44%
• 1M: 1.03%
• YTD: 4.85%
• 6M: 17.52%
• 1Y: 30.58%
• 3Y*: —
• 5Y*: —
• 10Y*: —

USOI

• 1D: 0.16%
• 1M: 14.60%
• YTD: 27.96%
• 6M: 23.68%
• 1Y: 18.36%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

ZSC vs. USOI - Expense Ratio Comparison

ZSC has a 0.59% expense ratio, which is lower than USOI's 0.85% expense ratio.

USOI

Credit Suisse X-Links Crude Oil Shares Covered Call ETN

ZSC

USCF Sustainable Commodity Strategy Fund

Return for Risk

ZSC vs. USOI — Risk / Return Rank

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

ZSC

ZSC Risk / Return Rank: 93
ZSC Sharpe Ratio Rank: 93
ZSC Sortino Ratio Rank: 94
ZSC Omega Ratio Rank: 93
ZSC Calmar Ratio Rank: 95
ZSC Martin Ratio Rank: 90

USOI

USOI Risk / Return Rank: 45
USOI Sharpe Ratio Rank: 50
USOI Sortino Ratio Rank: 47
USOI Omega Ratio Rank: 43
USOI Calmar Ratio Rank: 53
USOI Martin Ratio Rank: 34

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.

ZSC vs. USOI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for USCF Sustainable Commodity Strategy Fund (ZSC) 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.

	ZSC	USOI	Difference
Sharpe ratio Return per unit of total volatility	2.27	0.85	+1.41
Sortino ratio Return per unit of downside risk	2.95	1.23	+1.72
Omega ratio Gain probability vs. loss probability	1.43	1.16	+0.27
Calmar ratio Return relative to maximum drawdown	4.05	1.28	+2.77
Martin ratio Return relative to average drawdown	12.11	2.95	+9.15
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

ZSC vs. USOI - Sharpe Ratio Comparison

The current ZSC Sharpe Ratio is 2.27, which is higher than the USOI Sharpe Ratio of 0.85. The chart below compares the historical Sharpe Ratios of ZSC and USOI, 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

	ZSC	USOI	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.27	0.85	+1.41
Sharpe Ratio (All Time) Calculated using the full available price history	0.09	0.62	-0.52

Correlation

The correlation between ZSC and USOI is 0.09, 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

ZSC vs. USOI - Dividend Comparison

ZSC's dividend yield for the trailing twelve months is around 1.67%, less than USOI's 21.20% yield.

	TTM	2025	2024	2023
ZSC USCF Sustainable Commodity Strategy Fund	1.67%	1.75%	2.18%	1.40%
USOI Credit Suisse X-Links Crude Oil Shares Covered Call ETN	21.20%	27.21%	12.54%	0.00%

Drawdowns

ZSC vs. USOI - Drawdown Comparison

The maximum ZSC drawdown since its inception was -26.49%, which is greater than USOI's maximum drawdown of -19.49%. Use the drawdown chart below to compare losses from any high point for ZSC and USOI.

Drawdown Indicators

	ZSC	USOI	Difference
Max Drawdown Largest peak-to-trough decline	-26.49%	-19.49%	-7.00%
Max Drawdown (1Y) Largest decline over 1 year	-7.69%	-15.60%	+7.91%
Current Drawdown Current decline from peak	-2.33%	0.00%	-2.33%
Average Drawdown Average peak-to-trough decline	-15.63%	-7.68%	-7.95%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.57%	6.78%	-4.21%

Volatility

ZSC vs. USOI - Volatility Comparison

The current volatility for USCF Sustainable Commodity Strategy Fund (ZSC) is 3.98%, while Credit Suisse X-Links Crude Oil Shares Covered Call ETN (USOI) has a volatility of 5.96%. This indicates that ZSC 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

	ZSC	USOI	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.98%	5.96%	-1.98%
Volatility (6M) Calculated over the trailing 6-month period	10.59%	14.47%	-3.88%
Volatility (1Y) Calculated over the trailing 1-year period	13.56%	21.67%	-8.11%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	12.42%	21.11%	-8.69%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	12.42%	21.11%	-8.69%