BULZ vs. USOY

Last updated Jun 4, 2026

BULZ (MicroSectors Solactive FANG & Innovation 3X Leveraged ETN) and USOY (Defiance Oil Enhanced Options Income ETF) are both exchange-traded funds - BULZ is a Leveraged Equities fund tracking the Solactive FANG Innovation, while USOY is a Derivative Income fund actively managed by Defiance. BULZ is passively managed, while USOY is actively managed. Over the past year, BULZ returned 258.75% vs 57.29% for USOY. At a correlation of -0.03, they often move in opposite directions. BULZ charges 0.95%/yr vs 1.22%/yr for USOY.

Performance

BULZ vs. USOY - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in MicroSectors Solactive FANG & Innovation 3X Leveraged ETN (BULZ) 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, BULZ achieves a 100.89% return, which is significantly higher than USOY's 62.18% return.

BULZ

• 1D: -3.69%
• 1M: 48.46%
• YTD: 100.89%
• 6M: 88.97%
• 1Y: 258.75%
• 3Y*: 102.20%
• 5Y*: —
• 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)

BULZ vs. USOY - Yearly Performance Comparison

	2026 (YTD)	2025	2024
BULZ MicroSectors Solactive FANG & Innovation 3X Leveraged ETN	100.89%	60.09%	33.19%
USOY Defiance Oil Enhanced Options Income ETF	62.18%	-7.93%	7.27%

Correlation

The correlation between BULZ and USOY is -0.23, 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	-0.23
Correlation (All Time) Calculated using the full available price history since May 13, 2024	-0.03

The correlation between BULZ and USOY shifts across timeframes, from -0.23 (1 year) to -0.03 (all time), reflecting how their relationship changes across market environments.

Return for Risk

BULZ vs. USOY — Risk / Return Rank

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

BULZ

BULZ Risk / Return Rank: 76
BULZ Sharpe Ratio Rank: 93
BULZ Sortino Ratio Rank: 67
BULZ Omega Ratio Rank: 68
BULZ Calmar Ratio Rank: 85
BULZ Martin Ratio Rank: 69

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.

BULZ vs. USOY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for MicroSectors Solactive FANG & Innovation 3X Leveraged ETN (BULZ) 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.

	BULZ	USOY	Difference
Sharpe ratio: Return per unit of total volatility	3.51	1.89	+1.62
Sortino ratio: Return per unit of downside risk	3.13	2.30	+0.83
Omega ratio: Gain probability vs. loss probability	1.42	1.35	+0.07
Calmar ratio: Return relative to maximum drawdown	4.81	4.03	+0.78
Martin ratio: Return relative to average drawdown	12.88	7.74	+5.14
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

BULZ vs. USOY - Sharpe Ratio Comparison

The current BULZ Sharpe Ratio is 3.51, which is higher than the USOY Sharpe Ratio of 1.89. The chart below compares the historical Sharpe Ratios of BULZ 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

	BULZ	USOY	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	3.51	1.89	+1.62
Sharpe Ratio (All Time) Calculated using the full available price history	0.19	0.99	-0.80

Drawdowns

BULZ vs. USOY - Drawdown Comparison

The maximum BULZ drawdown since its inception was -94.44%, which is greater than USOY's maximum drawdown of -17.46%. Use the drawdown chart below to compare losses from any high point for BULZ and USOY.

Drawdown Indicators

	BULZ	USOY	Difference
Max Drawdown Largest peak-to-trough decline	-94.44%	-17.46%	-76.98%
Max Drawdown (1Y) Largest decline over 1 year	-54.22%	-14.29%	-39.93%
Max Drawdown (3Y) Largest decline over 3 years	-67.96%	—	—
Current Drawdown Current decline from peak	-5.35%	-5.11%	-0.24%
Average Drawdown Average peak-to-trough decline	-58.42%	-6.47%	-51.95%
Ulcer Index Depth and duration of drawdowns from previous peaks	20.19%	7.42%	+12.77%

Volatility

BULZ vs. USOY - Volatility Comparison

MicroSectors Solactive FANG & Innovation 3X Leveraged ETN (BULZ) has a higher volatility of 22.49% compared to Defiance Oil Enhanced Options Income ETF (USOY) at 11.62%. This indicates that BULZ'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

	BULZ	USOY	Difference
Volatility (1M) Calculated over the trailing 1-month period	22.49%	11.62%	+10.87%
Volatility (6M) Calculated over the trailing 6-month period	56.86%	27.18%	+29.68%
Volatility (1Y) Calculated over the trailing 1-year period	74.35%	30.44%	+43.91%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	91.23%	26.13%	+65.10%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	91.23%	26.13%	+65.10%

BULZ vs. USOY - Expense Ratio Comparison

BULZ has a 0.95% expense ratio, which is lower than USOY's 1.22% expense ratio.

Dividends

BULZ vs. USOY - Dividend Comparison

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

Position	TTM	2025	2024
BULZ MicroSectors Solactive FANG & Innovation 3X Leveraged ETN	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 BULZ and USOY in my portfolio?

BULZ and USOY have a correlation of -0.23, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, BULZ or USOY?

BULZ has higher volatility (22.49%) compared to USOY (11.62%). In terms of maximum drawdown, BULZ dropped -94.44% vs USOY's -17.46%.

Which ETF is better, BULZ or USOY?

On 1-year performance, BULZ leads with 258.75% vs 57.29% for USOY. On fees, BULZ is cheaper at 0.95% 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, BULZ or USOY?

Over the 1-year period, BULZ has performed better with a 258.75% return vs 57.29%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, BULZ or USOY?

BULZ is cheaper with a 0.95% expense ratio, compared with 1.22% for USOY.

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

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

What is the main difference between BULZ and USOY?

BULZ is categorized as Leveraged Equities, while USOY is Derivative Income. They also come from different issuers: BMO and Defiance. Their fees differ too: 0.95% for BULZ and 1.22% for USOY.

Which has better risk-adjusted returns?

BULZ currently has the higher Sharpe Ratio (3.51 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.