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- Pays: monthly — 111 coupons since June 2017.
- Trailing 12 months: $22.86 per share across 12 payments — up 38% from $16.51 the year before, as oil volatility (and option premium) climbed.
- What it is: not a fund — an exchange-traded note: unsecured UBS debt (due April 2037) that promises the return of a covered-call strategy on a crude-oil fund. You hold UBS's promise, not any barrels or options.
- The reverse split: 1:20 in September 2022 — every earlier payment displays twenty times larger than holders received. The "$23.08" of April 2020 was about $1.15 per share of the day.
- Fee: 0.85% annual tracking fee; recent checks ran $2.10 (July) and $2.70 (August 2026) against a ~$43.24 price.
Two things make USOI unlike almost everything else we chart. First, oil: its income is option premium on crude-oil exposure, so the checks swell in exactly the chaotic markets that hammer the underlying — the biggest display-payments in the record cluster around the 2020 oil collapse. Second, the wrapper: an ETN is a bank IOU, so on top of oil risk sits UBS credit risk — if the issuer ever failed, the note is an unsecured claim, whatever oil did. Note: after a share split, this data source restates all historical per-share payouts in today's share terms — the split disclosure above the chart applies.
Each point is one monthly USOI coupon since June 2017, restated in post-split terms. The towering early points are partly a 1:20 split-display artifact — read the note above.
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Each point is one payment; the line ends at the most recent payout. The table below totals them by year.
- Trailing 12 months: $23.98 per share across 12 payments — up 60% from $14.97 in the 12 months before (split-adjusted, in today's share terms). What a change like that does to your income →
- Current pace: recent payments annualize to $27.88 — 16% above the trailing figure. When those two disagree, the trailing yield is quoting the past. Live cut & raise board →
- Share price, same 12 months: down 12% (dividends excluded) — income and principal are one story. Erosion Index →
- Record: 112 payments over 9 years; the largest single payment was $23.08 (Apr 2020), split-adjusted.
- Payment drops ≥20% below trend, last 24 months: 9. Get alerted to the next one →
Every figure above is computed from USOI's actual payment record and share-price history as of the date shown — not copied from a fact sheet. Recomputed regularly; the chart above always shows the live data.
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| Recent Ex-Dividend Dates | Distribution / Share |
|---|
"Next expected" is estimated from USOI's recent payment rhythm — the fund announces exact dates shortly before each payout, and the data feed can lag a few days. You must own shares before the ex-dividend date to receive that payout; the cash typically arrives days later. See every fund's upcoming date on the live dividend calendar.
A real total-return estimate, assuming every payout was reinvested — including what happened to the share price. Before taxes and fees. Past performance does not predict the future.
USOI's trailing coupons total $22.86 per share — roughly 53% of the recent ~$43.24 price, and genuinely up 38% year over year as oil's options got pricier. Both fine prints still apply. The strategy one: selling calls on crude keeps the crash exposure while capping rallies, and the note needed a 1:20 reverse split by September 2022 to stay tradable after the 2020 oil collapse. The structural one: this is unsecured UBS debt due 2037 — the yield table never mentions that the payer is a bank, not a portfolio.
Its silver sibling SLVO runs the same design on silver; for equity-market covered calls in an actual fund wrapper, see XYLD. The compare tool overlays any of them.
| Year | Total Distributions / Share | Payments | Change vs Prior Year |
|---|
Data source: Yahoo Finance. Figures are per share; the current year may be partial and figures should be verified against official sources.
Calculated from complete calendar years in the data above. Past results don't guarantee future payments.
When Is USOI's Next Ex-Dividend Date?
USOI pays monthly — from covered calls on an oil fund. The exact date of each payout is announced by the fund only shortly beforehand, so no site can promise the next date — but the live schedule box above shows the most recent ex-dividend date and the expected window for the next one, computed from USOI's actual payment rhythm. Remember: you must own shares before the ex-dividend date to receive that payout.
Oil Volatility, Sold Monthly, Payable by a Bank
USOI has paid a monthly coupon since June 2017 — 111 of them — generated by a covered-call strategy on crude-oil exposure and delivered through an unusual wrapper: an exchange-traded note, which is unsecured UBS debt maturing in April 2037, carrying a 0.85% annual fee. There is no portfolio behind the ticker; there is a bank's promise to pay what the strategy earns. That distinction sits quietly under every number on this page.
The Record: Feast, Catastrophe, Feast
Selling calls on oil pays best precisely when oil is scared — so the fattest stretches in this record surround the ugliest oil markets, and the 2020 collapse both spiked the coupons and destroyed enough of the note's value that a 1:20 reverse split followed in September 2022 (all earlier figures on this chart display twenty times their original per-share size as a result). The current stretch is a feast: $22.86 per share over the trailing year, up 38%, with August 2026's coupon at $2.70 against a ~$43.24 price.
Who Should Even Consider It
Someone who wants paid oil-volatility exposure, understands the coupons and the crashes arrive from the same source, and is comfortable being a UBS creditor for the privilege — at 0.85% a year. Everyone else is probably better served seeing the trade drawn out: the compare tool against SLVO or XYLD shows what commodity option income does that equity option income doesn't, and the Erosion Index keeps the price side honest.
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