Credit Suisse X-Links Crude Oil Shares… (USOI) Performance
USOI total return
Distributions reinvested · as of Oct 23, 2026- YTD
- +54.8% since Dec 31, 2025
- 1 year
- +51.2% total return
- 5 years
- +13.8% a year
- Since first price
- +2.1% a year since 2017
USOI trailing returns vs SPY, QQQ, AGG
| Period | USOI total return | Price only | S&P 500 (SPY) | Nasdaq-100 (QQQ) | U.S. bonds (AGG) |
|---|---|---|---|---|---|
| 1 month | +7.4% | +0.3% | −1.0% | −5.0% | +0.9% |
| 3 months | +16.8% | −0.9% | +3.2% | +1.9% | −0.4% |
| 6 months | +13.7% | −16.8% | +7.8% | +8.4% | −1.5% |
| YTD | +54.8% | −5.7% | +12.3% | +15.1% | −1.0% |
| 1 year | +51.2% | −10.2% | +14.4% | +15.9% | −1.1% |
| 3 years | +42.9%+12.6%/yr | −45.5% | +87.4%+23.3%/yr | +101.4%+26.3%/yr | +16.6%+5.2%/yr |
| 5 years | +90.5%+13.8%/yr | −60.1% | +79.3%+12.4%/yr | +94.0%+14.2%/yr | −0.8%−0.2%/yr |
| Since inceptionApr 26, 2017 | +22.1%+2.1%/yr | −90.3% | — | — | — |
Total return from adjusted closes (distributions reinvested, before tax). Periods of 3 years or more are also shown annualized. Price only excludes distributions.
Growth of $10,000: USOI vs SPY
From Apr 26, 2017: USOI grew to $12,209, SPY to $36,949.
Year-end values with distributions reinvested, no taxes or trading costs. Start: first common trading day of both funds.
USOI returns by calendar year
5 of 8 full years positive. Best 2021 (+37.3%), worst 2020 (−65.6%). 2026 is year to date.
USOI annual returns table
| Year | USOI | Largest drop | SPY | QQQ | AGG |
|---|---|---|---|---|---|
| 2026YTD | +54.8% | −23.5% | +12.3% | +15.1% | −1.0% |
| 2025 | −8.8% | −19.5% | +17.7% | +20.8% | +7.2% |
| 2024 | +14.9% | −14.2% | +24.9% | +25.6% | +1.3% |
| 2023 | +6.4% | −17.0% | +26.2% | +54.9% | +5.7% |
| 2022 | +14.4% | −23.1% | −18.2% | −32.6% | −13.0% |
| 2021 | +37.3% | −16.0% | +28.7% | +27.4% | −1.8% |
| 2020 | −65.6% | −74.2% | +18.3% | +48.6% | +7.5% |
| 2019 | +33.6% | −22.2% | +31.2% | +39.0% | +8.5% |
| 2018 | −21.2% | −38.1% | −4.6% | −0.1% | +0.1% |
Largest drop = deepest fall from a high within that calendar year.
Calendar-year return vs largest drop within the year
Most years include a sizable fall at some point even when the year ends higher.
USOI largest drawdowns
Now 20.0% below the high| Peak | Decline | Bottom | Recovered | Fall | Underwater |
|---|---|---|---|---|---|
| Oct 2, 2018 | −77.4% | May 13, 2020 | not yet | 1.6 years | 8.1 years so far |
| May 24, 2017 | −12.5% | Jun 23, 2017 | Sep 19, 2017 | 30 days | 4 months |
| Nov 14, 2017 | −11.0% | Nov 20, 2017 | Jan 4, 2018 | 6 days | 51 days |
Declines from a closing high (distributions reinvested) of 10% or more. Underwater = time from the peak until the old high was regained.
USOI risk statistics
| Statistic | 3 years | 5 years | Since 2017 |
|---|---|---|---|
| Annualized return | +9.6% | +13.3% | +0.8% |
| Volatility (annualized) | 21.2% | 21.3% | 29.4% |
| Sharpe ratio | 0.33 | 0.52 | 0.11 |
| Sortino ratio | 0.51 | 0.81 | 0.14 |
| Best month | +14.6% | +14.6% | +19.1% |
| Worst month | −13.8% | −13.8% | −47.5% |
| Best 12 months | +56.8% | +56.8% | +78.2% |
| Worst 12 months | −15.8% | −15.8% | −69.4% |
| Positive months | 53% | 58% | 60% |
| Beta vs S&P 500 | 0.13 | 0.28 | — |
| Correlation with S&P 500 | 0.08 | 0.21 | — |
From monthly total returns. Sharpe and Sortino use 1–3 month T-bills (BIL) as the risk-free rate, so they need history from 2007 on.
USOI rolling returns
| Holding period | Periods | Worst | Median | Best | Positive |
|---|---|---|---|---|---|
| 1-year | 103 | −69.4% | +8.1% | +78.2% | 60% |
| 3-year (a year) | 79 | −32.5% | +3.9% | +32.2% | 54% |
| 5-year (a year) | 55 | −12.7% | −5.9% | +17.8% | 36% |
Every holding period starting at a month-end since 2017. Returns for 3 years and longer are annualized.
USOI performance overview
Credit Suisse X-Links Crude Oil Shares… (USOI) returned +51.2% over the past year and +13.8% a year over five years, with distributions reinvested. Since its first recorded price in 2017 it has returned +2.1% a year, turning $10,000 into about $12,209. Over the same year S&P 500 (SPY) returned +14.4%.
The deepest decline was −77.4%, from Oct 2, 2018 to May 13, 2020; the fund has not yet regained that high. USOI finished 5 of its 8 full calendar years with a gain; the best year was 2021 (+37.3%) and the worst 2020 (−65.6%). Volatility has been 29.4% a year.
Related: USOI chart, USOI dividends. See the USOI overview for the latest quote and fund facts.
USOI performance FAQ
What is the USOI return over the past year?
USOI returned +51.2% over the 12 months to October 23, 2026, including reinvested distributions. On price alone it fell 10.2%.
What is the average annual return of USOI?
USOI has returned +13.8% a year over 5 years, +2.1% a year since April 26, 2017 (total return, distributions reinvested).
How much would $10,000 invested in USOI be worth?
$10,000 invested in USOI at its first recorded close on April 26, 2017 would be worth about $12,209 on October 23, 2026 with distributions reinvested.
What was the worst year for USOI?
The worst calendar year was 2020, with a total return of −65.6%. The best was 2021 at +37.3%.
What is the biggest drawdown of USOI?
The largest peak-to-trough decline was −77.4% between October 2, 2018 and May 13, 2020. It has not yet recovered to that high; it is 20.0% below its peak.
How volatile is USOI?
Over the past 3 years USOI had an annualized volatility of 21.2% and a Sharpe ratio of 0.33 (excess return over 1–3 month T-bills per unit of risk).