BLCN vs. USOY

Last updated Jun 4, 2026

BLCN (Siren ETF Trust Siren Nasdaq NexGen Economy ETF) and USOY (Defiance Oil Enhanced Options Income ETF) are both exchange-traded funds - BLCN is a Large Cap Blend Equities fund tracking the Siren NASDAQ Blockchain Economy Index, while USOY is a Derivative Income fund actively managed by Defiance. BLCN is passively managed, while USOY is actively managed. Over the past year, BLCN returned 27.10% vs 57.29% for USOY. At a correlation of -0.01, they often move in opposite directions. BLCN charges 0.68%/yr vs 1.22%/yr for USOY.

Performance

BLCN vs. USOY - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Siren ETF Trust Siren Nasdaq NexGen Economy ETF (BLCN) 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, BLCN achieves a 13.09% return, which is significantly lower than USOY's 62.18% return.

BLCN

• 1D: 0.39%
• 1M: 10.42%
• YTD: 13.09%
• 6M: 10.14%
• 1Y: 27.10%
• 3Y*: 9.50%
• 5Y*: -9.77%
• 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)

BLCN vs. USOY - Yearly Performance Comparison

	2026 (YTD)	2025	2024
BLCN Siren ETF Trust Siren Nasdaq NexGen Economy ETF	13.09%	-3.69%	-1.68%
USOY Defiance Oil Enhanced Options Income ETF	62.18%	-7.93%	7.27%

Correlation

The correlation between BLCN and USOY is -0.11, 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	-0.11
Correlation (All Time) Calculated using the full available price history since May 13, 2024	-0.01

Return for Risk

BLCN vs. USOY — Risk / Return Rank

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

BLCN

BLCN Risk / Return Rank: 21
BLCN Sharpe Ratio Rank: 21
BLCN Sortino Ratio Rank: 23
BLCN Omega Ratio Rank: 23
BLCN Calmar Ratio Rank: 21
BLCN Martin Ratio Rank: 18

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.

BLCN vs. USOY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Siren ETF Trust Siren Nasdaq NexGen Economy ETF (BLCN) 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.

	BLCN	USOY	Difference
Sharpe ratio Return per unit of total volatility	0.76	1.89	-1.14
Sortino ratio Return per unit of downside risk	1.25	2.30	-1.04
Omega ratio Gain probability vs. loss probability	1.15	1.35	-0.20
Calmar ratio Return relative to maximum drawdown	0.92	4.03	-3.11
Martin ratio Return relative to average drawdown	1.97	7.74	-5.78
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

BLCN vs. USOY - Sharpe Ratio Comparison

The current BLCN Sharpe Ratio is 0.76, which is lower than the USOY Sharpe Ratio of 1.89. The chart below compares the historical Sharpe Ratios of BLCN 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

	BLCN	USOY	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.76	1.89	-1.14
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.28	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.08	0.99	-0.91

Drawdowns

BLCN vs. USOY - Drawdown Comparison

The maximum BLCN drawdown since its inception was -67.51%, which is greater than USOY's maximum drawdown of -17.46%. Use the drawdown chart below to compare losses from any high point for BLCN and USOY.

Drawdown Indicators

	BLCN	USOY	Difference
Max Drawdown Largest peak-to-trough decline	-67.51%	-17.46%	-50.05%
Max Drawdown (1Y) Largest decline over 1 year	-29.53%	-14.29%	-15.24%
Max Drawdown (3Y) Largest decline over 3 years	-45.26%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-67.51%	—	—
Current Drawdown Current decline from peak	-45.11%	-5.11%	-40.00%
Average Drawdown Average peak-to-trough decline	-30.29%	-6.47%	-23.82%
Ulcer Index Depth and duration of drawdowns from previous peaks	13.82%	7.42%	+6.40%

Volatility

BLCN vs. USOY - Volatility Comparison

Siren ETF Trust Siren Nasdaq NexGen Economy ETF (BLCN) has a higher volatility of 14.45% compared to Defiance Oil Enhanced Options Income ETF (USOY) at 11.62%. This indicates that BLCN's price experiences larger fluctuations and is considered to be riskier than USOY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	BLCN	USOY	Difference
Volatility (1M) Calculated over the trailing 1-month period	14.45%	11.62%	+2.83%
Volatility (6M) Calculated over the trailing 6-month period	29.11%	27.18%	+1.93%
Volatility (1Y) Calculated over the trailing 1-year period	36.03%	30.44%	+5.59%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	34.93%	26.13%	+8.80%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	31.22%	26.13%	+5.09%

BLCN vs. USOY - Expense Ratio Comparison

BLCN has a 0.68% expense ratio, which is lower than USOY's 1.22% expense ratio.

Dividends

BLCN vs. USOY - Dividend Comparison

BLCN's dividend yield for the trailing twelve months is around 2.66%, less than USOY's 54.16% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018
BLCN Siren ETF Trust Siren Nasdaq NexGen Economy ETF	2.66%	3.01%	0.67%	0.54%	1.28%	0.56%	0.58%	1.45%	1.16%
USOY Defiance Oil Enhanced Options Income ETF	54.16%	104.32%	48.60%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both BLCN and USOY in my portfolio?

BLCN and USOY have a correlation of -0.11, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, BLCN or USOY?

BLCN has higher volatility (14.45%) compared to USOY (11.62%). In terms of maximum drawdown, BLCN dropped -67.51% vs USOY's -17.46%.

Which ETF is better, BLCN or USOY?

On 1-year performance, USOY leads with 57.29% vs 27.10% for BLCN. On fees, BLCN is cheaper at 0.68% per year. On volatility, USOY has been the lower-risk option at 11.62%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, BLCN or USOY?

Over the 1-year period, USOY has performed better with a 57.29% return vs 27.10%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, BLCN or USOY?

BLCN is cheaper with a 0.68% expense ratio, compared with 1.22% for USOY.

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

USOY has the higher dividend yield at 54.16%, compared with 2.66% for BLCN.

What is the main difference between BLCN and USOY?

BLCN is categorized as Large Cap Blend Equities, while USOY is Derivative Income. They also come from different issuers: SRN Advisors and Defiance. Their fees differ too: 0.68% for BLCN and 1.22% for USOY.

Which has better risk-adjusted returns?

USOY currently has the higher Sharpe Ratio (1.89 vs 0.76), 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.