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Income ETF health check

UBS AG ETRACS Crude Oil Shares Covered Call ETNs due April 24, 2037

USOI

ETRACS · Monthly Payer · $321M AUM

Current price

$43.74

-$0.74 (-1.64%)

As of 11-02-2026 · USD

Canary status

HIGH RISK

Meaningful NAV erosion alongside distributions — the yield trap pattern is showing.

Updated every Monday and Thursday

YieldCanary Health Metrics

Yield comparison

Advertised Yield

86.11%

Headline Yield (TTM)

59.60%

True Income Yield

24.27%

The real number is typically lower once return of capital is stripped out.

Price and Distribution History

USOI

$43.74

-1.64% (-$0.74) 11-02-2026

Health metrics

Death Clock
0.70 yrs
YieldCanary ROC %
59.3%

Income and return

After-Tax Monthly (25%)
$XX.XX
Last Distribution
$3.1386
1Y Price Return
-11.13%
About True Income Yield

About True Income Yield: This is a YieldCanary proprietary sustainability indicator, not a standard accounting measure of economic gain. It strips return of capital from the headline yield to show only what the fund generated from real investment activity. Return of capital reduces your cost basis and the full economic gain is only realized when you sell your shares. YieldCanary calculates ROC from performance data, not from the 19a-1 notices that fund companies publish monthly. Our estimates can differ from official issuer reports and can differ significantly from your year-end 1099 tax forms. We are actively working on incorporating 19a-1 data to make these figures more precise. For confirmed ROC figures always check the fund's official 19a-1 notice on the issuer's website or your year-end 1099.

True Income Yield and Death Clock are YieldCanary proprietary metrics. Not financial advice. Data updates every Monday and Thursday.

Fund Details

AUM
$321M
Expense ratio
0.85%
Inception date
04-25-2017
Payout frequency
Monthly
Advertised yield
86.11%
52-week high
$61.17
52-week low
$42.27
Average daily volume
134,870
Next expected ex-date (estimated)
11-22-2026

Similar Funds

SLVO

UBS ETRACS Silver Shares Covered Call ETN

Severe Risk

GLDI

UBS AG ETRACS Gold Shares Covered Call ETNs due February 2, 2033

Severe Risk

Sustainability analysis

Health Score Breakdown

USOI is currently High Risk on YieldCanary. Meaningful NAV erosion is being detected alongside the distributions. The Death Clock of 0.70 years indicates the fund is on a concerning trajectory at the current pace. High ROC combined with a declining NAV is the yield trap pattern — the distributions look attractive but the underlying value is eroding.

See the full health score breakdown in YieldCanary.

Fund questions

Frequently Asked Questions — USOI

Is USOI a good income ETF?

Based on YieldCanary's health framework, USOI is currently High Risk. The fund is showing meaningful NAV erosion alongside its distributions. The Death Clock of 0.70 years indicates the fund is on a concerning trajectory at the current pace. This warrants significant caution before adding to or initiating a position. This is not financial advice — always do your own research and consult a qualified financial professional before making investment decisions.

YieldCanary calculates ROC from performance data, not 19a-1 filings. Not financial advice.

What does USOI pay per month?

Based on last month's actual distribution of $3.1386 per share, $10,000 invested in USOI at the current price of $43.74 generates approximately 228 shares. That's $715.60 gross per month before taxes. Your after-tax income depends on your personal tax rate and account type. Set your rate inside YieldCanary to see your exact after-tax monthly income and connect your portfolio to see what all of your holdings generate together. Distributions change month to month based on options premiums and market conditions. Past distributions are not a guarantee of future payments.

YieldCanary calculates ROC from performance data, not 19a-1 filings. Not financial advice.

When is USOI's next ex-dividend date and pay date?

USOI's next expected ex-dividend date is November 22, 2026 (estimated). A confirmed date and amount are not available yet. You must own shares before the ex-dividend date to receive that distribution. USOI pays Monthly. Recent ex-dividend dates: October 21, 2026, September 22, 2026, August 20, 2026, July 22, 2026. See the Dividend Events tab for the full history. As of November 3, 2026.

YieldCanary calculates ROC from performance data, not 19a-1 filings. Not financial advice.

What is USOI's True Income Yield?

YieldCanary's True Income Yield for USOI is currently 24.27%. This is a distribution sustainability indicator — it strips the estimated return of capital portion from the headline TTM yield to show only what the fund generated from real investment activity. It is not an accounting measure of economic gain. Return of capital reduces your cost basis and full economic gain is only realized when you sell. USOI's current ROC estimate is 59.3%. The full methodology breakdown is available inside YieldCanary. For confirmed ROC figures check the fund's official 19a-1 notice or your year-end 1099.

YieldCanary calculates ROC from performance data, not 19a-1 filings. Not financial advice.

What is USOI's Death Clock?

USOI's Death Clock is currently 0.70 years. This estimates the number of years before 50% of the fund's NAV erodes at the current pace, assuming all things stay constant. It is a sustainability warning signal. The pace can improve or worsen as market conditions and distribution behavior change. Check back every Monday and Thursday when the data refreshes.

YieldCanary calculates ROC from performance data, not 19a-1 filings. Not financial advice.

Is USOI's return of capital good or bad?

USOI's current ROC estimate is 59.3%. A high ROC without NAV stability can indicate the fund is returning your own principal as income while the underlying value declines. The Death Clock and Canary Status reflect this in USOI's current health rating. Note: YieldCanary calculates ROC from performance data, not 19a-1 filings.

YieldCanary calculates ROC from performance data, not 19a-1 filings. Not financial advice.

How does USOI compare to similar funds?

On YieldCanary, USOI is currently High Risk with a 24.27% True Income Yield and a Death Clock of 0.70 years. It pays Monthly distributions and has a 1-year price return of -11.13%. Similar funds from ETRACS tracked on YieldCanary: UBS ETRACS Silver Shares Covered Call ETN (SLVO) — currently Severe Risk; UBS AG ETRACS Gold Shares Covered Call ETNs due February 2, 2033 (GLDI) — currently Severe Risk Full side-by-side comparison including True Income Yield, Death Clock, ROC%, and after-tax income across all similar funds is available inside YieldCanary.

YieldCanary calculates ROC from performance data, not 19a-1 filings. Not financial advice.

How often does USOI pay distributions?

USOI is a Monthly paying ETF. Distributions are paid once per month, which aligns well with monthly bills and expenses. Monthly payers are the most popular frequency among income investors for this reason. The most recent distribution was $3.1386 per share. To see exact upcoming ex-dividend and payment dates for USOI in your portfolio, connect your holdings inside YieldCanary and check the Distribution Calendar.

YieldCanary calculates ROC from performance data, not 19a-1 filings. Not financial advice.

What is USOI's AUM and why does it matter?

USOI currently has $321M in assets under management. USOI is a mid-sized fund with reasonable liquidity. Worth monitoring AUM trends over time to ensure the fund continues attracting assets. AUM alone does not determine whether a fund is healthy. Check the Canary Status and Death Clock above for the full sustainability picture.

YieldCanary calculates ROC from performance data, not 19a-1 filings. Not financial advice.

Is USOI available in a Roth IRA?

Yes — USOI can be held in a Roth IRA like any standard ETF, assuming your brokerage offers it. For income ETFs with high return of capital, a Roth IRA can be a particularly advantageous account type. ROC distributions reduce your cost basis in a taxable account, creating a deferred tax liability that grows over time. In a Roth IRA that tax treatment is irrelevant as all distributions are tax-free regardless of their character. This is not tax advice. Consult a tax professional about your specific situation and account type before making investment decisions.

YieldCanary calculates ROC from performance data, not 19a-1 filings. Not financial advice.

About the fund

Strategy & Objective

ETRACS · Monthly Payer

USOI presents a distinctive strategy within the crude oil market, aiming to generate revenue from its holdings in oil futures. This Exchange Traded Note mirrors the performance of USO, a widely recognized ETF tracking front-month oil contracts, while simultaneously taking a synthetic short position in USO call options. These options are structured to expire the following month with strike prices set 6% above the current market value. This particular strategy is designed to boost income and reduce price volatility compared to simply holding USO, but it inherently limits the potential for substantial upside gains. Consequently, USOI's performance is anticipated to diverge significantly from that of direct crude oil futures. In line with typical ETN characteristics, USOI intends to distribute its generated income to investors on a monthly basis.

At a glance

YieldCanary Health Summary

UBS AG ETRACS Crude Oil Shares Covered Call ETNs due April 24, 2037 (USOI) is a Monthly-paying income ETF issued by ETRACS with $321M in assets under management. The fund has an advertised yield of 86.11% and a trailing 12-month headline yield of 59.60%. USOI is currently High Risk on YieldCanary with a True Income Yield of 24.27% and a Death Clock of 0.70 years. The fund's current ROC estimate is 59.3% which warrants monitoring alongside the Canary Status. The most recent distribution was $3.1386 per share. The fund's price has returned -11.13% over the trailing 12 months.

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