CHAT vs. USOY

Last updated Jun 4, 2026

CHAT (Roundhill Generative AI & Technology ETF) and USOY (Defiance Oil Enhanced Options Income ETF) are both exchange-traded funds - CHAT is a Technology Equities fund actively managed by Roundhill, while USOY is a Derivative Income fund actively managed by Defiance. Both are actively managed. Over the past year, CHAT returned 144.01% vs 57.29% for USOY. At a correlation of -0.02, they often move in opposite directions. CHAT charges 0.75%/yr vs 1.22%/yr for USOY.

Performance

CHAT vs. USOY - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Roundhill Generative AI & Technology ETF (CHAT) 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, CHAT achieves a 74.30% return, which is significantly higher than USOY's 62.18% return.

CHAT

• 1D: -0.66%
• 1M: 27.78%
• YTD: 74.30%
• 6M: 73.13%
• 1Y: 144.01%
• 3Y*: 55.51%
• 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)

CHAT vs. USOY - Yearly Performance Comparison

	2026 (YTD)	2025	2024
CHAT Roundhill Generative AI & Technology ETF	74.30%	49.85%	17.41%
USOY Defiance Oil Enhanced Options Income ETF	62.18%	-7.93%	7.27%

Correlation

The correlation between CHAT 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	-0.02

Over the past year, the inverse relationship between CHAT and USOY has strengthened: their correlation has moved from -0.02 to -0.23, meaning they now move in opposite directions more often than their long-term average.

Return for Risk

CHAT vs. USOY — Risk / Return Rank

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

CHAT

CHAT Risk / Return Rank: 94
CHAT Sharpe Ratio Rank: 97
CHAT Sortino Ratio Rank: 94
CHAT Omega Ratio Rank: 93
CHAT Calmar Ratio Rank: 96
CHAT Martin Ratio Rank: 94

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.

CHAT vs. USOY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Roundhill Generative AI & Technology ETF (CHAT) 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.

	CHAT	USOY	Difference
Sharpe ratio: Return per unit of total volatility	4.72	1.89	+2.83
Sortino ratio: Return per unit of downside risk	4.86	2.30	+2.56
Omega ratio: Gain probability vs. loss probability	1.65	1.35	+0.31
Calmar ratio: Return relative to maximum drawdown	8.90	4.03	+4.87
Martin ratio: Return relative to average drawdown	26.26	7.74	+18.52
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

CHAT vs. USOY - Sharpe Ratio Comparison

The current CHAT Sharpe Ratio is 4.72, which is higher than the USOY Sharpe Ratio of 1.89. The chart below compares the historical Sharpe Ratios of CHAT 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

	CHAT	USOY	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	4.72	1.89	+2.83
Sharpe Ratio (All Time) Calculated using the full available price history	1.98	0.99	+0.99

Drawdowns

CHAT vs. USOY - Drawdown Comparison

The maximum CHAT drawdown since its inception was -31.34%, which is greater than USOY's maximum drawdown of -17.46%. Use the drawdown chart below to compare losses from any high point for CHAT and USOY.

Drawdown Indicators

	CHAT	USOY	Difference
Max Drawdown Largest peak-to-trough decline	-31.34%	-17.46%	-13.88%
Max Drawdown (1Y) Largest decline over 1 year	-16.28%	-14.29%	-1.99%
Max Drawdown (3Y) Largest decline over 3 years	-31.34%	—	—
Current Drawdown Current decline from peak	-0.66%	-5.11%	+4.45%
Average Drawdown Average peak-to-trough decline	-5.35%	-6.47%	+1.12%
Ulcer Index Depth and duration of drawdowns from previous peaks	5.51%	7.42%	-1.91%

Volatility

CHAT vs. USOY - Volatility Comparison

Roundhill Generative AI & Technology ETF (CHAT) and Defiance Oil Enhanced Options Income ETF (USOY) have volatilities of 11.70% and 11.62%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	CHAT	USOY	Difference
Volatility (1M) Calculated over the trailing 1-month period	11.70%	11.62%	+0.08%
Volatility (6M) Calculated over the trailing 6-month period	24.62%	27.18%	-2.56%
Volatility (1Y) Calculated over the trailing 1-year period	30.74%	30.44%	+0.30%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	29.90%	26.13%	+3.77%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	29.90%	26.13%	+3.77%

CHAT vs. USOY - Expense Ratio Comparison

CHAT has a 0.75% expense ratio, which is lower than USOY's 1.22% expense ratio.

Dividends

CHAT vs. USOY - Dividend Comparison

CHAT's dividend yield for the trailing twelve months is around 1.64%, less than USOY's 54.16% yield.

Position	TTM	2025	2024
CHAT Roundhill Generative AI & Technology ETF	1.64%	2.85%	0.00%
USOY Defiance Oil Enhanced Options Income ETF	54.16%	104.32%	48.60%

Frequently Asked Questions

Can I hold both CHAT and USOY in my portfolio?

CHAT 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, CHAT or USOY?

CHAT has higher volatility (11.70%) compared to USOY (11.62%). In terms of maximum drawdown, CHAT dropped -31.34% vs USOY's -17.46%.

Which ETF is better, CHAT or USOY?

On 1-year performance, CHAT leads with 144.01% vs 57.29% for USOY. On fees, CHAT is cheaper at 0.75% per year. Their volatility is very similar. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, CHAT or USOY?

Over the 1-year period, CHAT has performed better with a 144.01% return vs 57.29%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, CHAT or USOY?

CHAT is cheaper with a 0.75% expense ratio, compared with 1.22% for USOY.

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

USOY has the higher dividend yield at 54.16%, compared with 1.64% for CHAT.

What is the main difference between CHAT and USOY?

CHAT is categorized as Technology Equities, while USOY is Derivative Income. They also come from different issuers: Roundhill and Defiance. Their fees differ too: 0.75% for CHAT and 1.22% for USOY.

Which has better risk-adjusted returns?

CHAT currently has the higher Sharpe Ratio (4.72 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.