BMNZ vs. USOY

Last updated Jun 6, 2026

BMNZ (Defiance Daily Target 2X Short BMNR ETF) and USOY (Defiance Oil Enhanced Options Income ETF) are both exchange-traded funds - BMNZ is a Inverse Equities fund tracking the BitMine Immersion Technologies, Inc., while USOY is a Derivative Income fund actively managed by Defiance. BMNZ is passively managed, while USOY is actively managed. At a 0.09 correlation, their price movements are largely independent. BMNZ charges 1.31%/yr vs 1.22%/yr for USOY.

Performance

BMNZ vs. USOY - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Defiance Daily Target 2X Short BMNR ETF (BMNZ) 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, BMNZ achieves a 1.13% return, which is significantly lower than USOY's 56.61% return.

BMNZ

• 1D: 22.76%
• 1M: 77.00%
• YTD: 1.13%
• 6M: 35.73%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

USOY

• 1D: -1.67%
• 1M: 1.06%
• YTD: 56.61%
• 6M: 52.27%
• 1Y: 51.90%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

BMNZ vs. USOY - Yearly Performance Comparison

	2026 (YTD)	2025
BMNZ Defiance Daily Target 2X Short BMNR ETF	1.13%	-0.49%
USOY Defiance Oil Enhanced Options Income ETF	56.61%	0.43%

Correlation

The correlation between BMNZ and USOY is 0.09, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (All Time) Calculated using the full available price history since Nov 14, 2025	0.09

Return for Risk

BMNZ vs. USOY — Risk / Return Rank

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

USOY

USOY Risk / Return Rank: 53
USOY Sharpe Ratio Rank: 51
USOY Sortino Ratio Rank: 44
USOY Omega Ratio Rank: 53
USOY Calmar Ratio Rank: 75
USOY Martin Ratio Rank: 44

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.

BMNZ vs. USOY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Defiance Daily Target 2X Short BMNR ETF (BMNZ) 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.

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

Sharpe Ratios by Period

	BMNZ	USOY	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	1.71	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.01	0.91	-0.90

Drawdowns

BMNZ vs. USOY - Drawdown Comparison

The maximum BMNZ drawdown since its inception was -70.80%, which is greater than USOY's maximum drawdown of -17.46%. Use the drawdown chart below to compare losses from any high point for BMNZ and USOY.

Drawdown Indicators

	BMNZ	USOY	Difference
Max Drawdown Largest peak-to-trough decline	-70.80%	-17.46%	-53.34%
Max Drawdown (1Y) Largest decline over 1 year	—	-14.29%	—
Current Drawdown Current decline from peak	-43.38%	-8.37%	-35.01%
Average Drawdown Average peak-to-trough decline	-51.56%	-6.47%	-45.09%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	7.45%	—

Volatility

Volatility by Period

	BMNZ	USOY	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	9.70%	—
Volatility (6M) Calculated over the trailing 6-month period	—	27.33%	—
Volatility (1Y) Calculated over the trailing 1-year period	190.13%	30.56%	+159.57%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	190.13%	26.14%	+163.99%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	190.13%	26.14%	+163.99%

BMNZ vs. USOY - Expense Ratio Comparison

BMNZ has a 1.31% expense ratio, which is higher than USOY's 1.22% expense ratio.

Dividends

BMNZ vs. USOY - Dividend Comparison

BMNZ has not paid dividends to shareholders, while USOY's dividend yield for the trailing twelve months is around 57.61%.

Position	TTM	2025	2024
BMNZ Defiance Daily Target 2X Short BMNR ETF	0.00%	0.00%	0.00%
USOY Defiance Oil Enhanced Options Income ETF	57.61%	104.32%	48.60%

Frequently Asked Questions

Can I hold both BMNZ and USOY in my portfolio?

BMNZ and USOY have a correlation of 0.09, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, BMNZ or USOY?

On fees, USOY is cheaper at 1.22% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, BMNZ or USOY?

USOY is cheaper with a 1.22% expense ratio, compared with 1.31% for BMNZ.

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

USOY has the higher dividend yield at 57.61%, compared with 0.00% for BMNZ.

What is the main difference between BMNZ and USOY?

BMNZ is categorized as Inverse Equities, while USOY is Derivative Income. Their fees differ too: 1.31% for BMNZ and 1.22% for USOY.