BJUN vs. USOY

Last updated Jun 4, 2026

BJUN (Innovator U.S. Equity Buffer ETF - June) and USOY (Defiance Oil Enhanced Options Income ETF) are both exchange-traded funds - BJUN is a Defined Outcome fund tracking the S&P 500 Price Return Index, while USOY is a Derivative Income fund actively managed by Defiance. BJUN is passively managed, while USOY is actively managed. Over the past year, BJUN returned 14.41% vs 57.29% for USOY. At a correlation of -0.07, they often move in opposite directions. BJUN charges 0.79%/yr vs 1.22%/yr for USOY.

Performance

BJUN vs. USOY - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Innovator U.S. Equity Buffer ETF - June (BJUN) 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, BJUN achieves a 4.45% return, which is significantly lower than USOY's 62.18% return.

BJUN

• 1D: -0.51%
• 1M: 0.57%
• YTD: 4.45%
• 6M: 5.26%
• 1Y: 14.41%
• 3Y*: 14.50%
• 5Y*: 8.67%
• 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)

BJUN vs. USOY - Yearly Performance Comparison

	2026 (YTD)	2025	2024
BJUN Innovator U.S. Equity Buffer ETF - June	4.45%	12.57%	9.35%
USOY Defiance Oil Enhanced Options Income ETF	62.18%	-7.93%	7.27%

Correlation

The correlation between BJUN 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 May 13, 2024	-0.07

The correlation between BJUN and USOY shifts across timeframes, from -0.24 (1 year) to -0.07 (all time), reflecting how their relationship changes across market environments.

Return for Risk

BJUN vs. USOY — Risk / Return Rank

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

BJUN

BJUN Risk / Return Rank: 76
BJUN Sharpe Ratio Rank: 69
BJUN Sortino Ratio Rank: 76
BJUN Omega Ratio Rank: 80
BJUN Calmar Ratio Rank: 67
BJUN Martin Ratio Rank: 87

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.

BJUN vs. USOY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Innovator U.S. Equity Buffer ETF - June (BJUN) 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.

	BJUN	USOY	Difference
Sharpe ratio: Return per unit of total volatility	2.27	1.89	+0.37
Sortino ratio: Return per unit of downside risk	3.39	2.30	+1.10
Omega ratio: Gain probability vs. loss probability	1.48	1.35	+0.13
Calmar ratio: Return relative to maximum drawdown	3.32	4.03	-0.71
Martin ratio: Return relative to average drawdown	18.84	7.74	+11.10
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

BJUN vs. USOY - Sharpe Ratio Comparison

The current BJUN Sharpe Ratio is 2.27, which is comparable to the USOY Sharpe Ratio of 1.89. The chart below compares the historical Sharpe Ratios of BJUN 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

	BJUN	USOY	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.27	1.89	+0.37
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.80	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.74	0.99	-0.25

Drawdowns

BJUN vs. USOY - Drawdown Comparison

The maximum BJUN drawdown since its inception was -22.71%, which is greater than USOY's maximum drawdown of -17.46%. Use the drawdown chart below to compare losses from any high point for BJUN and USOY.

Drawdown Indicators

	BJUN	USOY	Difference
Max Drawdown Largest peak-to-trough decline	-22.71%	-17.46%	-5.25%
Max Drawdown (1Y) Largest decline over 1 year	-4.36%	-14.29%	+9.93%
Max Drawdown (3Y) Largest decline over 3 years	-12.69%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-16.69%	—	—
Current Drawdown Current decline from peak	-0.51%	-5.11%	+4.60%
Average Drawdown Average peak-to-trough decline	-2.85%	-6.47%	+3.62%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.77%	7.42%	-6.65%

Volatility

BJUN vs. USOY - Volatility Comparison

The current volatility for Innovator U.S. Equity Buffer ETF - June (BJUN) is 0.63%, while Defiance Oil Enhanced Options Income ETF (USOY) has a volatility of 11.62%. This indicates that BJUN 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

	BJUN	USOY	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.63%	11.62%	-10.99%
Volatility (6M) Calculated over the trailing 6-month period	4.67%	27.18%	-22.51%
Volatility (1Y) Calculated over the trailing 1-year period	6.40%	30.44%	-24.04%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	10.88%	26.13%	-15.25%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	13.21%	26.13%	-12.92%

BJUN vs. USOY - Expense Ratio Comparison

BJUN has a 0.79% expense ratio, which is lower than USOY's 1.22% expense ratio.

Dividends

BJUN vs. USOY - Dividend Comparison

BJUN has not paid dividends to shareholders, while USOY's dividend yield for the trailing twelve months is around 54.16%.

Position	TTM	2025	2024
BJUN Innovator U.S. Equity Buffer ETF - June	0.00%	0.00%	0.00%
USOY Defiance Oil Enhanced Options Income ETF	54.16%	104.32%	48.60%

Frequently Asked Questions

Can I hold both BJUN and USOY in my portfolio?

BJUN 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, BJUN or USOY?

USOY has higher volatility (11.62%) compared to BJUN (0.63%). In terms of maximum drawdown, BJUN dropped -22.71% vs USOY's -17.46%.

Which ETF is better, BJUN or USOY?

On 1-year performance, USOY leads with 57.29% vs 14.41% for BJUN. On fees, BJUN is cheaper at 0.79% per year. On volatility, BJUN has been the lower-risk option at 0.63%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, BJUN or USOY?

Over the 1-year period, USOY has performed better with a 57.29% return vs 14.41%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, BJUN or USOY?

BJUN is cheaper with a 0.79% expense ratio, compared with 1.22% for USOY.

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

USOY has the higher dividend yield at 54.16%, compared with 0.00% for BJUN.

What is the main difference between BJUN and USOY?

BJUN is categorized as Defined Outcome, while USOY is Derivative Income. They also come from different issuers: Innovator and Defiance. Their fees differ too: 0.79% for BJUN and 1.22% for USOY.

Which has better risk-adjusted returns?

BJUN currently has the higher Sharpe Ratio (2.27 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.