COSW vs. USOY

Last updated Jun 6, 2026

COSW (Roundhill COST WeeklyPay ETF) and USOY (Defiance Oil Enhanced Options Income ETF) are both Derivative Income funds. Both are actively managed. At a 0.05 correlation, their price movements are largely independent. COSW charges 0.99%/yr vs 1.22%/yr for USOY.

Performance

COSW vs. USOY - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Roundhill COST WeeklyPay ETF (COSW) 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, COSW achieves a 13.78% return, which is significantly lower than USOY's 56.61% return.

COSW

• 1D: 0.14%
• 1M: -3.17%
• YTD: 13.78%
• 6M: 8.54%
• 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)

COSW vs. USOY - Yearly Performance Comparison

	2026 (YTD)	2025
COSW Roundhill COST WeeklyPay ETF	13.78%	-10.71%
USOY Defiance Oil Enhanced Options Income ETF	56.61%	-0.56%

Correlation

The correlation between COSW and USOY is 0.05, 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 Oct 24, 2025	0.05

Return for Risk

COSW 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.

COSW vs. USOY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Roundhill COST WeeklyPay ETF (COSW) 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

	COSW	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	0.10	0.91	-0.80

Drawdowns

COSW vs. USOY - Drawdown Comparison

The maximum COSW drawdown since its inception was -16.24%, smaller than the maximum USOY drawdown of -17.46%. Use the drawdown chart below to compare losses from any high point for COSW and USOY.

Drawdown Indicators

	COSW	USOY	Difference
Max Drawdown Largest peak-to-trough decline	-16.24%	-17.46%	+1.22%
Max Drawdown (1Y) Largest decline over 1 year	—	-14.29%	—
Current Drawdown Current decline from peak	-13.37%	-8.37%	-5.00%
Average Drawdown Average peak-to-trough decline	-4.29%	-6.47%	+2.18%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	7.45%	—

Volatility

Volatility by Period

	COSW	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	25.99%	30.56%	-4.57%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	25.99%	26.14%	-0.15%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	25.99%	26.14%	-0.15%

COSW vs. USOY - Expense Ratio Comparison

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

Dividends

COSW vs. USOY - Dividend Comparison

COSW's dividend yield for the trailing twelve months is around 17.86%, less than USOY's 57.61% yield.

Position	TTM	2025	2024
COSW Roundhill COST WeeklyPay ETF	17.86%	4.96%	0.00%
USOY Defiance Oil Enhanced Options Income ETF	57.61%	104.32%	48.60%

Frequently Asked Questions

Can I hold both COSW and USOY in my portfolio?

COSW and USOY have a correlation of 0.05, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, COSW or USOY?

On fees, COSW is cheaper at 0.99% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, COSW or USOY?

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

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

USOY has the higher dividend yield at 57.61%, compared with 17.86% for COSW.

What is the main difference between COSW and USOY?

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