APUE vs. USOY

Last updated Jun 4, 2026

APUE (ActivePassive U.S. Equity ETF) and USOY (Defiance Oil Enhanced Options Income ETF) are both exchange-traded funds - APUE is a Large Cap Blend Equities fund actively managed by ActivePassive, while USOY is a Derivative Income fund actively managed by Defiance. Both are actively managed. Over the past year, APUE returned 29.02% vs 57.29% for USOY. At a correlation of -0.09, they often move in opposite directions. APUE charges 0.33%/yr vs 1.22%/yr for USOY.

Performance

APUE vs. USOY - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ActivePassive U.S. Equity ETF (APUE) and Defiance Oil Enhanced Options Income ETF (USOY). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, APUE achieves a 10.99% return, which is significantly lower than USOY's 62.18% return.

APUE

• 1D: -0.58%
• 1M: 4.97%
• YTD: 10.99%
• 6M: 11.14%
• 1Y: 29.02%
• 3Y*: 22.12%
• 5Y*: —
• 10Y*: —

USOY

• 1D: 1.45%
• 1M: -3.43%
• YTD: 62.18%
• 6M: 59.35%
• 1Y: 57.29%
• 3Y*: —
• 5Y*: —
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

APUE vs. USOY - Yearly Performance Comparison

	2026 (YTD)	2025	2024
APUE ActivePassive U.S. Equity ETF	10.99%	17.49%	12.66%
USOY Defiance Oil Enhanced Options Income ETF	62.18%	-7.93%	7.27%

Correlation

The correlation between APUE and USOY is -0.30, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	-0.30
Correlation (All Time) Calculated using the full available price history since May 13, 2024	-0.09

Over the past year, the inverse relationship between APUE and USOY has strengthened: their correlation has moved from -0.09 to -0.30, meaning they now move in opposite directions more often than their long-term average.

Return for Risk

APUE vs. USOY — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

APUE

APUE Risk / Return Rank: 73
APUE Sharpe Ratio Rank: 74
APUE Sortino Ratio Rank: 73
APUE Omega Ratio Rank: 73
APUE Calmar Ratio Rank: 66
APUE Martin Ratio Rank: 78

USOY

USOY Risk / Return Rank: 56
USOY Sharpe Ratio Rank: 55
USOY Sortino Ratio Rank: 46
USOY Omega Ratio Rank: 55
USOY Calmar Ratio Rank: 78
USOY Martin Ratio Rank: 46

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

APUE vs. USOY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ActivePassive U.S. Equity ETF (APUE) and Defiance Oil Enhanced Options Income ETF (USOY). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

	APUE	USOY	Difference
Sharpe ratio: Return per unit of total volatility	2.39	1.89	+0.50
Sortino ratio: Return per unit of downside risk	3.29	2.30	+0.99
Omega ratio: Gain probability vs. loss probability	1.43	1.35	+0.09
Calmar ratio: Return relative to maximum drawdown	3.24	4.03	-0.78
Martin ratio: Return relative to average drawdown	15.17	7.74	+7.42
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

APUE vs. USOY - Sharpe Ratio Comparison

The current APUE Sharpe Ratio is 2.39, which is comparable to the USOY Sharpe Ratio of 1.89. The chart below compares the historical Sharpe Ratios of APUE and USOY, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	APUE	USOY	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.39	1.89	+0.50
Sharpe Ratio (All Time) Calculated using the full available price history	1.61	0.99	+0.62

Drawdowns

APUE vs. USOY - Drawdown Comparison

The maximum APUE drawdown since its inception was -18.83%, which is greater than USOY's maximum drawdown of -17.46%. Use the drawdown chart below to compare losses from any high point for APUE and USOY.

Drawdown Indicators

	APUE	USOY	Difference
Max Drawdown Largest peak-to-trough decline	-18.83%	-17.46%	-1.37%
Max Drawdown (1Y) Largest decline over 1 year	-8.98%	-14.29%	+5.31%
Max Drawdown (3Y) Largest decline over 3 years	-18.83%	—	—
Current Drawdown Current decline from peak	-0.58%	-5.11%	+4.53%
Average Drawdown Average peak-to-trough decline	-2.07%	-6.47%	+4.40%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.92%	7.42%	-5.50%

Volatility

APUE vs. USOY - Volatility Comparison

The current volatility for ActivePassive U.S. Equity ETF (APUE) is 2.84%, while Defiance Oil Enhanced Options Income ETF (USOY) has a volatility of 11.62%. This indicates that APUE experiences smaller price fluctuations and is considered to be less risky than USOY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	APUE	USOY	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.84%	11.62%	-8.78%
Volatility (6M) Calculated over the trailing 6-month period	9.08%	27.18%	-18.10%
Volatility (1Y) Calculated over the trailing 1-year period	12.20%	30.44%	-18.24%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.65%	26.13%	-11.48%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	14.65%	26.13%	-11.48%

APUE vs. USOY - Expense Ratio Comparison

APUE has a 0.33% expense ratio, which is lower than USOY's 1.22% expense ratio.

Dividends

APUE vs. USOY - Dividend Comparison

APUE's dividend yield for the trailing twelve months is around 0.75%, less than USOY's 54.16% yield.

Position	TTM	2025	2024	2023
APUE ActivePassive U.S. Equity ETF	0.75%	0.83%	0.79%	0.41%
USOY Defiance Oil Enhanced Options Income ETF	54.16%	104.32%	48.60%	0.00%

Frequently Asked Questions

Can I hold both APUE and USOY in my portfolio?

APUE and USOY have a correlation of -0.30, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, APUE or USOY?

USOY has higher volatility (11.62%) compared to APUE (2.84%). In terms of maximum drawdown, APUE dropped -18.83% vs USOY's -17.46%.

Which ETF is better, APUE or USOY?

On 1-year performance, USOY leads with 57.29% vs 29.02% for APUE. On fees, APUE is cheaper at 0.33% per year. On volatility, APUE has been the lower-risk option at 2.84%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, APUE or USOY?

Over the 1-year period, USOY has performed better with a 57.29% return vs 29.02%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, APUE or USOY?

APUE is cheaper with a 0.33% expense ratio, compared with 1.22% for USOY.

Which ETF pays a higher dividend yield, APUE or USOY?

USOY has the higher dividend yield at 54.16%, compared with 0.75% for APUE.

What is the main difference between APUE and USOY?

APUE is categorized as Large Cap Blend Equities, while USOY is Derivative Income. They also come from different issuers: ActivePassive and Defiance. Their fees differ too: 0.33% for APUE and 1.22% for USOY.

Which has better risk-adjusted returns?

APUE currently has the higher Sharpe Ratio (2.39 vs 1.89), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.