- Issuer
- Defiance
- Inception Date
- May 9, 2024
- Category
- Derivative Income
- Leveraged
- 1x (No leverage)
- Index Tracked
- No Index (Active)
- Distribution Policy
- Distributing
- Asset Class
- Commodity
- Assets Under Management
- $58M
Share Price Chart
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Performance
USOY Performance Chart
Defiance Oil Enhanced Options Income ETF (USOY) is up 47.2% since the beginning of the year. USOY is currently trading at $7 per share.
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Returns By Period
Defiance Oil Enhanced Options Income ETF (USOY) has returned 47.19% so far this year and 37.78% over the past 12 months.
Defiance Oil Enhanced Options Income ETF
- 1D
- 3.19%
- 1M
- 7.38%
- 6M
- 45.20%
- YTD
- 47.19%
- 1Y
- 37.78%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
Benchmark (S&P 500 Index)
- 1D
- -1.01%
- 1M
- 0.51%
- 6M
- 7.46%
- YTD
- 8.94%
- 1Y
- 18.43%
- 3Y*
- 17.86%
- 5Y*
- 11.50%
- 10Y*
- 13.17%
USOY Monthly Returns History
Based on dividend-adjusted daily data since May 10, 2024, USOY's average daily return is +0.08%, while the average monthly return is +1.71%. At this rate, an investment would double in approximately 3.4 years.
Historically, 52% of months were positive and 48% were negative. The best month was Mar 2026 with a return of +34.0%, while the worst month was Apr 2025 at -13.5%. The longest winning streak lasted 4 consecutive months, and the longest losing streak was 5 months.
On a daily basis, USOY closed higher 59% of trading days. The best single day was Apr 13, 2026 with a return of +7.4%, while the worst single day was Apr 8, 2026 at -8.7%.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | 9.53% | 9.13% | 34.04% | 4.02% | -9.27% | -13.20% | 12.13% | 47.19% | |||||
| 2025 | 3.34% | -1.83% | 0.80% | -13.45% | 4.81% | 2.31% | 5.64% | -1.75% | -3.63% | -1.91% | -0.03% | -1.10% | -7.93% |
| 2024 | -1.04% | 3.20% | -2.21% | -4.02% | -2.77% | 3.63% | 3.85% | 5.81% | 6.13% |
Benchmark Metrics
Defiance Oil Enhanced Options Income ETF has an annualized alpha of 20.34%, beta of 0.11, and R2 of 0.00 versus S&P 500 Index. Calculated based on daily prices since May 10, 2024.
- This ETF captured 12.80% of S&P 500 Index gains and tended to rise during its downturns (downside capture of -191.60%) - a profile typical of hedging or uncorrelated assets.
- Beta of 0.11 may look defensive, but with R2 of 0.00 this ETF is largely uncorrelated with S&P 500 Index - low beta reflects independence, not downside protection. See the Volatility section for a true picture of this ETF's risk.
- R2 of 0.00 means this ETF moves largely independently of S&P 500 Index - capture ratios reflect limited market correlation rather than active downside protection. Consider using a more representative benchmark.
- Alpha
- 20.34%
- Beta
- 0.11
- R²
- 0.00
- Upside Capture
- 12.80%
- Downside Capture
- -191.60%
Expense Ratio
USOY has a high expense ratio of 1.22%, indicating above-average management fees.
Return for Risk
Risk / Return Rank
USOY ranks 38 for risk / return — below 38% of ETFs on our site. The returns aren't fully compensating for the risk involved. This isn't necessarily a dealbreaker, but factor it into your decision — especially if you're risk-averse.
Return / Risk — by metrics
The table below present risk-adjusted performance metrics for Defiance Oil Enhanced Options Income ETF (USOY) and compare them to S&P 500 Index.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| USOY | Benchmark | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.30 | ||
| Sortino ratioReturn per unit of downside risk | -0.42 | ||
| Omega ratioGain probability vs. loss probability | 1.22 | 1.27 | -0.04 |
| Calmar ratioReturn relative to maximum drawdown | 1.49 | 2.03 | -0.55 |
| Martin ratioReturn relative to average drawdown | 4.46 | 8.80 | -4.34 |
Dividends
Dividend History
Defiance Oil Enhanced Options Income ETF provided a 58.44% dividend yield over the last twelve months, with an annual payout of $4.25 per share.
| Period | TTM | 2025 | 2024 |
|---|---|---|---|
| Dividend | $4.25 | $6.79 | $6.83 |
Dividend yield | 58.44% | 104.32% | 48.60% |
Monthly Dividends
The table displays the monthly dividend distributions for Defiance Oil Enhanced Options Income ETF. The dividends shown in the table have been adjusted to account for any splits that may have occurred.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | $0.25 | $0.28 | $0.37 | $0.43 | $0.34 | $0.29 | $0.17 | $2.12 | |||||
| 2025 | $0.00 | $1.01 | $0.71 | $0.80 | $0.54 | $1.12 | $0.72 | $0.48 | $0.36 | $0.44 | $0.31 | $0.30 | $6.79 |
| 2024 | $0.72 | $2.01 | $0.00 | $1.06 | $0.61 | $0.78 | $1.66 | $6.83 |
Drawdowns
Drawdowns Chart
The Drawdowns chart displays portfolio losses from any high point along the way. Drawdowns are calculated considering price movements and all distributions paid, if any.
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Worst Drawdowns
The table below displays the maximum drawdowns of the Defiance Oil Enhanced Options Income ETF. A maximum drawdown is a measure of risk, indicating the largest reduction in portfolio value due to a series of losing trades.
The maximum drawdown for the Defiance Oil Enhanced Options Income ETF was 25.51%, occurring on Jul 1, 2026. The portfolio has not yet recovered.
The current Defiance Oil Enhanced Options Income ETF drawdown is 13.88%.
Drawdown | Fall | Recovery | Underwater | Related event |
|---|---|---|---|---|
-25.51%Jul 2026 | 1mo 12d | — | 1mo 29dMay 2026 - now | — |
-17.46%Apr 2025 | 2mo 17d | 10mo 17d | 1y 29dJan 2025 - Feb 2026 | 2025 selloff2025 |
-14.34%Sep 2024 | 2mo 4d | 3mo 21d | 5mo 25dJul 2024 - Dec 2024 | — |
-13.85%Apr 2026 | 10d | 12d | 22dApr 2026 - Apr 2026 | — |
-8.87%May 2026 | 6d | 13d | 19dApr 2026 - May 2026 | — |
Drawdown Indicators
| USOY | Benchmark | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -25.51% | -56.78% | +31.27% |
Max Drawdown (1Y)Largest decline over 1 year | -25.51% | -9.10% | -16.41% |
Max Drawdown (3Y)Largest decline over 3 years | — | -18.90% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -25.43% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -33.92% | — |
Current DrawdownCurrent decline from peak | -13.88% | -2.00% | -11.88% |
Average DrawdownAverage peak-to-trough decline | -7.08% | -10.70% | +3.62% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 8.50% | 2.10% | +6.40% |
Volatility
Volatility Chart
The chart below shows the rolling one-month volatility.
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