CHPY vs. USOY

Last updated Jun 4, 2026

CHPY (YieldMax Semiconductor Portfolio Option Income ETF) and USOY (Defiance Oil Enhanced Options Income ETF) are both Derivative Income funds. Both are actively managed. Over the past year, CHPY returned 149.72% vs 57.29% for USOY. At a correlation of -0.12, they often move in opposite directions. CHPY charges 0.99%/yr vs 1.22%/yr for USOY.

Performance

CHPY vs. USOY - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in YieldMax Semiconductor Portfolio Option Income ETF (CHPY) 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, CHPY achieves a 85.77% return, which is significantly higher than USOY's 62.18% return.

CHPY

• 1D: 1.14%
• 1M: 29.53%
• YTD: 85.77%
• 6M: 85.49%
• 1Y: 149.72%
• 3Y*: —
• 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)

CHPY vs. USOY - Yearly Performance Comparison

	2026 (YTD)	2025
CHPY YieldMax Semiconductor Portfolio Option Income ETF	85.77%	62.91%
USOY Defiance Oil Enhanced Options Income ETF	62.18%	-4.40%

Correlation

The correlation between CHPY and USOY is -0.19, 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	-0.19
Correlation (All Time) Calculated using the full available price history since Apr 4, 2025	-0.12

Return for Risk

CHPY vs. USOY — Risk / Return Rank

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

CHPY

CHPY Risk / Return Rank: 97
CHPY Sharpe Ratio Rank: 98
CHPY Sortino Ratio Rank: 96
CHPY Omega Ratio Rank: 96
CHPY Calmar Ratio Rank: 97
CHPY Martin Ratio Rank: 97

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.

CHPY vs. USOY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for YieldMax Semiconductor Portfolio Option Income ETF (CHPY) 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.

	CHPY	USOY	Difference
Sharpe ratio Return per unit of total volatility	5.47	1.89	+3.58
Sortino ratio Return per unit of downside risk	5.76	2.30	+3.46
Omega ratio Gain probability vs. loss probability	1.81	1.35	+0.46
Calmar ratio Return relative to maximum drawdown	12.38	4.03	+8.35
Martin ratio Return relative to average drawdown	47.28	7.74	+39.54
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

CHPY vs. USOY - Sharpe Ratio Comparison

The current CHPY Sharpe Ratio is 5.47, which is higher than the USOY Sharpe Ratio of 1.89. The chart below compares the historical Sharpe Ratios of CHPY 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

	CHPY	USOY	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	5.47	1.89	+3.58
Sharpe Ratio (All Time) Calculated using the full available price history	4.83	0.99	+3.84

Drawdowns

CHPY vs. USOY - Drawdown Comparison

The maximum CHPY drawdown since its inception was -12.17%, smaller than the maximum USOY drawdown of -17.46%. Use the drawdown chart below to compare losses from any high point for CHPY and USOY.

Drawdown Indicators

	CHPY	USOY	Difference
Max Drawdown Largest peak-to-trough decline	-12.17%	-17.46%	+5.29%
Max Drawdown (1Y) Largest decline over 1 year	-12.17%	-14.29%	+2.12%
Current Drawdown Current decline from peak	0.00%	-5.11%	+5.11%
Average Drawdown Average peak-to-trough decline	-1.98%	-6.47%	+4.49%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.18%	7.42%	-4.24%

Volatility

CHPY vs. USOY - Volatility Comparison

YieldMax Semiconductor Portfolio Option Income ETF (CHPY) and Defiance Oil Enhanced Options Income ETF (USOY) have volatilities of 11.23% 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

	CHPY	USOY	Difference
Volatility (1M) Calculated over the trailing 1-month period	11.23%	11.62%	-0.39%
Volatility (6M) Calculated over the trailing 6-month period	22.33%	27.18%	-4.85%
Volatility (1Y) Calculated over the trailing 1-year period	27.59%	30.44%	-2.85%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	33.17%	26.13%	+7.04%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	33.17%	26.13%	+7.04%

CHPY vs. USOY - Expense Ratio Comparison

CHPY has a 0.99% expense ratio, which is lower than USOY's 1.22% expense ratio.

Dividends

CHPY vs. USOY - Dividend Comparison

CHPY's dividend yield for the trailing twelve months is around 28.40%, less than USOY's 54.16% yield.

Position	TTM	2025	2024
CHPY YieldMax Semiconductor Portfolio Option Income ETF	28.40%	28.19%	0.00%
USOY Defiance Oil Enhanced Options Income ETF	54.16%	104.32%	48.60%

Frequently Asked Questions

Can I hold both CHPY and USOY in my portfolio?

CHPY and USOY have a correlation of -0.19, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, CHPY or USOY?

USOY has higher volatility (11.62%) compared to CHPY (11.23%). In terms of maximum drawdown, CHPY dropped -12.17% vs USOY's -17.46%.

Which ETF is better, CHPY or USOY?

On 1-year performance, CHPY leads with 149.72% vs 57.29% for USOY. On fees, CHPY is cheaper at 0.99% per year. On volatility, CHPY has been the lower-risk option at 11.23%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, CHPY or USOY?

Over the 1-year period, CHPY has performed better with a 149.72% return vs 57.29%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, CHPY or USOY?

CHPY is cheaper with a 0.99% expense ratio, compared with 1.22% for USOY.

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

USOY has the higher dividend yield at 54.16%, compared with 28.40% for CHPY.

What is the main difference between CHPY and USOY?

They also come from different issuers: YieldMax and Defiance. Their fees differ too: 0.99% for CHPY and 1.22% for USOY.

Which has better risk-adjusted returns?

CHPY currently has the higher Sharpe Ratio (5.47 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.