BKFI vs. USOY

Last updated Jul 12, 2026

BKFI (BNY Mellon Active Core Bond ETF) and USOY (Defiance Oil Enhanced Options Income ETF) are both exchange-traded funds - BKFI is a Intermediate Core Bond fund actively managed by BNY Mellon, while USOY is a Derivative Income fund actively managed by Defiance. Both are actively managed. At a correlation of -0.51, they often move in opposite directions. BKFI charges 0.40%/yr vs 1.22%/yr for USOY.

Performance

BKFI vs. USOY - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in BNY Mellon Active Core Bond ETF (BKFI) and Defiance Oil Enhanced Options Income ETF (USOY). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

BKFI

• 1D: -0.04%
• 1M: -0.24%
• 6M: -0.26%
• YTD: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

USOY

• 1D: -0.15%
• 1M: -11.20%
• 6M: 31.53%
• YTD: 32.71%
• 1Y: 24.79%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

BKFI vs. USOY - Yearly Performance Comparison

	2026 (YTD)
BKFI BNY Mellon Active Core Bond ETF	-0.26%
USOY Defiance Oil Enhanced Options Income ETF	31.53%

Correlation

The correlation between BKFI and USOY is -0.51, 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 (All Time) Calculated using the full available price history since Jan 12, 2026	-0.51

Return for Risk

BKFI vs. USOY — Risk / Return Rank

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

BKFI

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

USOY

USOY Risk / Return Rank: 27
USOY Sharpe Ratio Rank: 27
USOY Sortino Ratio Rank: 26
USOY Omega Ratio Rank: 29
USOY Calmar Ratio Rank: 25
USOY Martin Ratio Rank: 28

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.

BKFI vs. USOY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for BNY Mellon Active Core Bond ETF (BKFI) 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.

	BKFI	USOY	Difference
Sharpe ratio: Return per unit of total volatility	—	0.82	—
Sortino ratio: Return per unit of downside risk	—	1.21	—
Omega ratio: Gain probability vs. loss probability	—	1.17	—
Calmar ratio: Return relative to maximum drawdown	—	1.01	—
Martin ratio: Return relative to average drawdown	—	3.15	—

Drawdowns

BKFI vs. USOY - Drawdown Comparison

The maximum BKFI drawdown since its inception was -3.08%, smaller than the maximum USOY drawdown of -25.51%. Use the drawdown chart below to compare losses from any high point for BKFI and USOY.

Drawdown Indicators

	BKFI	USOY	Difference
Max Drawdown Largest peak-to-trough decline	-3.08%	-25.51%	+22.43%
Max Drawdown (1Y) Largest decline over 1 year	—	-25.51%	—
Current Drawdown Current decline from peak	-1.74%	-22.35%	+20.61%
Average Drawdown Average peak-to-trough decline	-1.25%	-7.00%	+5.75%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	8.20%	—

Volatility

Volatility by Period

	BKFI	USOY	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	10.79%	—
Volatility (6M) Calculated over the trailing 6-month period	—	29.22%	—
Volatility (1Y) Calculated over the trailing 1-year period	4.17%	31.69%	-27.52%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	4.17%	26.73%	-22.56%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	4.17%	26.73%	-22.56%

BKFI vs. USOY - Expense Ratio Comparison

BKFI has a 0.40% expense ratio, which is lower than USOY's 1.22% expense ratio.

Dividends

BKFI vs. USOY - Dividend Comparison

BKFI's dividend yield for the trailing twelve months is around 2.15%, less than USOY's 65.91% yield.

Position	TTM	2025	2024
BKFI BNY Mellon Active Core Bond ETF	2.15%	0.00%	0.00%
USOY Defiance Oil Enhanced Options Income ETF	65.91%	104.32%	48.60%

Frequently Asked Questions

Can I hold both BKFI and USOY in my portfolio?

BKFI and USOY have a correlation of -0.51, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, BKFI or USOY?

On fees, BKFI is cheaper at 0.40% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, BKFI or USOY?

BKFI is cheaper with a 0.40% expense ratio, compared with 1.22% for USOY.

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

USOY has the higher dividend yield at 65.91%, compared with 2.15% for BKFI.

What is the main difference between BKFI and USOY?

BKFI is categorized as Intermediate Core Bond, while USOY is Derivative Income. They also come from different issuers: BNY Mellon and Defiance. Their fees differ too: 0.40% for BKFI and 1.22% for USOY.