BAI vs. USOY

Last updated Jun 4, 2026

BAI (iShares A.I. Innovation and Tech Active ETF) and USOY (Defiance Oil Enhanced Options Income ETF) are both exchange-traded funds - BAI is a Technology Equities fund actively managed by iShares, while USOY is a Derivative Income fund actively managed by Defiance. Both are actively managed. Over the past year, BAI returned 97.95% vs 57.29% for USOY. At a correlation of -0.08, they often move in opposite directions. BAI charges 0.55%/yr vs 1.22%/yr for USOY.

Performance

BAI vs. USOY - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares A.I. Innovation and Tech Active ETF (BAI) 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, BAI achieves a 55.29% return, which is significantly lower than USOY's 62.18% return.

BAI

• 1D: -0.40%
• 1M: 18.14%
• YTD: 55.29%
• 6M: 51.89%
• 1Y: 97.95%
• 3Y*: —
• 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)

BAI vs. USOY - Yearly Performance Comparison

	2026 (YTD)	2025	2024
BAI iShares A.I. Innovation and Tech Active ETF	55.29%	25.22%	8.06%
USOY Defiance Oil Enhanced Options Income ETF	62.18%	-7.93%	9.96%

Correlation

The correlation between BAI and USOY is -0.24, 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	-0.24
Correlation (All Time) Calculated using the full available price history since Oct 23, 2024	-0.08

The correlation between BAI and USOY shifts across timeframes, from -0.24 (1 year) to -0.08 (all time), reflecting how their relationship changes across market environments.

Return for Risk

BAI vs. USOY — Risk / Return Rank

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

BAI

BAI Risk / Return Rank: 82
BAI Sharpe Ratio Rank: 89
BAI Sortino Ratio Rank: 74
BAI Omega Ratio Rank: 75
BAI Calmar Ratio Rank: 92
BAI Martin Ratio Rank: 82

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.

BAI vs. USOY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares A.I. Innovation and Tech Active ETF (BAI) 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.

	BAI	USOY	Difference
Sharpe ratio: Return per unit of total volatility	3.04	1.89	+1.15
Sortino ratio: Return per unit of downside risk	3.41	2.30	+1.11
Omega ratio: Gain probability vs. loss probability	1.46	1.35	+0.11
Calmar ratio: Return relative to maximum drawdown	6.07	4.03	+2.04
Martin ratio: Return relative to average drawdown	16.57	7.74	+8.83
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

BAI vs. USOY - Sharpe Ratio Comparison

The current BAI Sharpe Ratio is 3.04, which is higher than the USOY Sharpe Ratio of 1.89. The chart below compares the historical Sharpe Ratios of BAI 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

	BAI	USOY	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	3.04	1.89	+1.15
Sharpe Ratio (All Time) Calculated using the full available price history	1.69	0.99	+0.70

Drawdowns

BAI vs. USOY - Drawdown Comparison

The maximum BAI drawdown since its inception was -34.09%, which is greater than USOY's maximum drawdown of -17.46%. Use the drawdown chart below to compare losses from any high point for BAI and USOY.

Drawdown Indicators

	BAI	USOY	Difference
Max Drawdown Largest peak-to-trough decline	-34.09%	-17.46%	-16.63%
Max Drawdown (1Y) Largest decline over 1 year	-16.22%	-14.29%	-1.93%
Current Drawdown Current decline from peak	-0.40%	-5.11%	+4.71%
Average Drawdown Average peak-to-trough decline	-6.93%	-6.47%	-0.46%
Ulcer Index Depth and duration of drawdowns from previous peaks	5.93%	7.42%	-1.49%

Volatility

BAI vs. USOY - Volatility Comparison

iShares A.I. Innovation and Tech Active ETF (BAI) and Defiance Oil Enhanced Options Income ETF (USOY) have volatilities of 11.32% and 11.62%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	BAI	USOY	Difference
Volatility (1M) Calculated over the trailing 1-month period	11.32%	11.62%	-0.30%
Volatility (6M) Calculated over the trailing 6-month period	26.16%	27.18%	-1.02%
Volatility (1Y) Calculated over the trailing 1-year period	32.43%	30.44%	+1.99%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	35.06%	26.13%	+8.93%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	35.06%	26.13%	+8.93%

BAI vs. USOY - Expense Ratio Comparison

BAI has a 0.55% expense ratio, which is lower than USOY's 1.22% expense ratio.

Dividends

BAI vs. USOY - Dividend Comparison

BAI's dividend yield for the trailing twelve months is around 1.16%, less than USOY's 54.16% yield.

Position	TTM	2025	2024
BAI iShares A.I. Innovation and Tech Active ETF	1.16%	1.80%	0.00%
USOY Defiance Oil Enhanced Options Income ETF	54.16%	104.32%	48.60%

Frequently Asked Questions

Can I hold both BAI and USOY in my portfolio?

BAI and USOY have a correlation of -0.24, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, BAI or USOY?

USOY has higher volatility (11.62%) compared to BAI (11.32%). In terms of maximum drawdown, BAI dropped -34.09% vs USOY's -17.46%.

Which ETF is better, BAI or USOY?

On 1-year performance, BAI leads with 97.95% vs 57.29% for USOY. On fees, BAI is cheaper at 0.55% per year. On volatility, BAI has been the lower-risk option at 11.32%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, BAI or USOY?

Over the 1-year period, BAI has performed better with a 97.95% return vs 57.29%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, BAI or USOY?

BAI is cheaper with a 0.55% expense ratio, compared with 1.22% for USOY.

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

USOY has the higher dividend yield at 54.16%, compared with 1.16% for BAI.

What is the main difference between BAI and USOY?

BAI is categorized as Technology Equities, while USOY is Derivative Income. They also come from different issuers: iShares and Defiance. Their fees differ too: 0.55% for BAI and 1.22% for USOY.

Which has better risk-adjusted returns?

BAI currently has the higher Sharpe Ratio (3.04 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.