Why are USOI's monthly payments so different from month to month?

The coupon passes through whatever the notional covered-call strategy earned — option premium on crude oil varies with volatility, and in some months the index terms produce little or nothing to pay. Variable-by-design is the honest label.

What does it mean that USOI is an ETN?

It's a debt note issued by UBS AG, not a fund holding assets. UBS promises returns matching the index; if UBS ever failed, holders would be unsecured creditors regardless of how crude oil performed. That credit layer is the structural price of the wrapper.

How does USOI's covered-call strategy work?

The index notionally holds shares of the United States Oil Fund (USO) and sells calls on that position each month at roughly 6% out of the money, converting crude oil's volatility into cash coupons while capping each month's upside. It's the classic buy-write, applied to a commodity vehicle and paid out monthly.

How long has USOI been paying?

Monthly since June 2017 — through multiple full cycles in crude oil, which is precisely what makes its long chart useful: it shows the strategy in booms, busts, and the long quiet stretches between.

USOI Dividend History & Next Ex-Dividend Date

Q: When is USOI's next ex-dividend date?

USOI pays monthly, so the next ex-dividend date typically falls about a month after the previous one. Exact dates are announced by the fund shortly before each payout. This page computes the expected window from USOI's live payment data and shows the most recent ex-dividend dates and amounts. You must own shares before the ex-dividend date to receive that payout.

← All dividend history charts

USOI Coupon — Quick Facts

Pays: monthly, with variable coupons — the payment is whatever the notional option strategy earned, and can be small or zero in some months.
First paid: June 2017 — every coupon since is charted below.
What it is: an ETN, not an ETF — senior unsecured debt of UBS AG tracking an index that notionally holds shares of the United States Oil Fund (USO) and sells monthly calls on it.
Fee: 0.85% annual tracking fee, accrued daily.
The fine print: as UBS debt, payments depend on UBS's ability to pay, and the note matures in 2037. An ETN holder is a bank creditor, not a fund shareholder.

Two risk layers stack here: the strategy's (covered calls on crude oil cap the upside and keep the downside) and the structure's (everything rides on UBS's credit). The 2008-era lesson — Lehman's ETNs became bankruptcy claims — is why the ETN label deserves its own line.

Every Coupon Payment, Over Time

USOI pays monthly, variable coupons. Each point below is one payment since June 2017.

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USOI Payment Schedule & Next Ex-Dividend Date

Recent Ex-Dividend Dates	Coupon / 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.

The ETN Fine Print, In Plain English

USOI has one of the longest covered-call payment records on a commodity anywhere — but the wrapper matters as much as the strategy. An ETN owns nothing: UBS promises to pay the index's result, the "holdings" are notional, and the coupons are contractual bank payments. In exchange you get exact index tracking and no fund mechanics; the cost is single-bank credit risk until maturity in 2037.

The ETF alternatives run related strategies without the bank-credit layer — USOY sells puts on the same USO for weekly income — worth lining up on the compare tool.

Year-by-Year Table

Year	Total Coupons / 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. 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.

When Is USOI's Next Ex-Dividend Date?

USOI pays monthly. 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.

USOI's Record So Far

USOI — the UBS ETRACS Crude Oil Shares Covered Call ETN — has paid variable monthly coupons since June 2017, one of the longest-running covered-call income records in the commodity world. The chart above shows every payment.

Commodity Volatility as Income

Crude oil pays no dividend and never will — but its volatility has a price, and USOI's index sells it monthly. The result is income conjured from an asset class that natively offers none, with the buy-write's usual bargain: rich coupons in nervous markets, capped participation when crude oil runs, and full exposure when it slides.

Reading the Chart Honestly

Treat the coupon history and the note's price as one inseparable story — commodity covered-calls can pay handsomely across a stretch where the principal wilts. And weigh the wrapper: identical strategy results in ETF form would carry no bank-credit risk. Total return, credit layer included, is the honest yardstick.

Compare It Against Anything

Same chart, two tickers, one honest overlay — payouts and price erosion side by side.

Compare Any Two Funds

Educational content only — not financial advice. Payout history is provided by a third-party data source and may contain errors, omissions, or delays; verify against official sources before relying on it. Past distributions do not guarantee future payments. This is not a recommendation to buy or sell any security.