BFEB vs. USOY
BFEB (Innovator S&P 500 Buffer ETF - February) and USOY (Defiance Oil Enhanced Options Income ETF) are both exchange-traded funds - BFEB is a Options Trading fund tracking the Cboe S&P 500 Buffer Protect Index February Series, while USOY is a Derivative Income fund actively managed by Defiance. BFEB is passively managed, while USOY is actively managed. Over the past year, BFEB returned 18.66% vs 35.36% for USOY. Their -0.09 correlation means they have often moved in opposite directions in the past. BFEB charges 0.79%/yr vs 1.22%/yr for USOY.
Performance
BFEB vs. USOY - Performance Comparison
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Returns By Period
In the year-to-date period, BFEB achieves a 9.56% return, which is significantly lower than USOY's 44.25% return.
BFEB
- 1D
- 0.66%
- 1M
- 1.41%
- 6M
- 6.78%
- YTD
- 9.56%
- 1Y
- 18.66%
- 3Y*
- 15.78%
- 5Y*
- 11.53%
- 10Y*
- —
- ALL TIME*
- 11.91%
USOY
- 1D
- -4.63%
- 1M
- 12.58%
- 6M
- 35.65%
- YTD
- 44.25%
- 1Y
- 35.36%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 16.63%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $298.59K | $511.89K | $646.30K | |
| $3.04M | $3.28M | $3.41M |
BFEB vs. USOY - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
BFEB Innovator S&P 500 Buffer ETF - February | 9.56% | 12.99% | 9.34% |
USOY Defiance Oil Enhanced Options Income ETF | 44.25% | -7.93% | 6.13% |
Correlation
The correlation between BFEB and USOY is -0.24, meaning they have often moved in opposite directions in the past. This relationship can weaken or reverse as market conditions change.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | -0.24 |
Correlation (All Time) Calculated using the full available price history since May 10, 2024 | -0.09 |
The correlation between BFEB and USOY shifts across timeframes, from -0.24 (1 year) to -0.09 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
BFEB vs. USOY — Risk / Return Rank
BFEB
USOY
BFEB vs. USOY - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Innovator S&P 500 Buffer ETF - February (BFEB) 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.
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.
| BFEB | USOY | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.20 | ||
| Sortino ratioReturn per unit of downside risk | +1.68 | ||
| Omega ratioGain probability vs. loss probability | 1.42 | 1.20 | +0.22 |
| Calmar ratioReturn relative to maximum drawdown | 2.92 | 1.39 | +1.53 |
| Martin ratioReturn relative to average drawdown | 14.38 | 4.10 | +10.27 |
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Drawdowns
BFEB vs. USOY - Drawdown Comparison
The maximum BFEB drawdown since its inception was -27.20%, which is greater than USOY's maximum drawdown of -25.51%. Use the drawdown chart below to compare losses from any high point for BFEB and USOY.
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Drawdown Indicators
| BFEB | USOY | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -27.20% | -25.51% | -1.69% |
Max Drawdown (1Y)Largest decline over 1 year | -6.41% | -25.51% | +19.10% |
Max Drawdown (3Y)Largest decline over 3 years | -13.82% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -14.84% | — | — |
Current DrawdownCurrent decline from peak | 0.00% | -15.60% | +15.60% |
Average DrawdownAverage peak-to-trough decline | -2.73% | -7.18% | +4.45% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.30% | 8.65% | -7.35% |
Volatility
BFEB vs. USOY - Volatility Comparison
The current volatility for Innovator S&P 500 Buffer ETF - February (BFEB) is 2.31%, while Defiance Oil Enhanced Options Income ETF (USOY) has a volatility of 16.26%. This indicates that BFEB 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.
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Volatility by Period
| BFEB | USOY | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.31% | 16.26% | -13.95% |
Volatility (6M)Calculated over the trailing 6-month period | 6.90% | 32.70% | -25.80% |
Volatility (1Y)Calculated over the trailing 1-year period | 8.49% | 35.22% | -26.73% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 11.46% | 28.35% | -16.89% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 14.16% | 28.35% | -14.19% |
BFEB vs. USOY - Expense Ratio Comparison
BFEB has a 0.79% expense ratio, which is lower than USOY's 1.22% expense ratio.
Dividends
BFEB vs. USOY - Dividend Comparison
BFEB has not paid dividends to shareholders, while USOY's dividend yield for the trailing twelve months is around 59.33%.
| Position | TTM | 2025 | 2024 |
|---|---|---|---|
BFEB Innovator S&P 500 Buffer ETF - February | 0.00% | 0.00% | 0.00% |
USOY Defiance Oil Enhanced Options Income ETF | 59.33% | 104.32% | 48.60% |
Frequently Asked Questions
BFEB 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.
USOY has higher volatility (16.26%) compared to BFEB (2.31%). In terms of maximum drawdown, BFEB dropped -27.20% vs USOY's -25.51%.
On 1-year performance, USOY leads with 35.36% vs 18.66% for BFEB. On fees, BFEB is cheaper at 0.79% per year. On volatility, BFEB has been the lower-risk option at 2.31%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, USOY has performed better with a 35.36% return vs 18.66%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
BFEB is cheaper with a 0.79% expense ratio, compared with 1.22% for USOY.
USOY has the higher dividend yield at 59.33%, compared with 0.00% for BFEB.
BFEB is categorized as Options Trading, while USOY is Derivative Income. They also come from different issuers: Innovator and Defiance. Their fees differ too: 0.79% for BFEB and 1.22% for USOY.
BFEB currently has the higher Sharpe Ratio (2.21 vs 1.01), 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.
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