CPAI vs. USOY

Last updated Jun 6, 2026

CPAI (Counterpoint Quantitative Equity ETF) and USOY (Defiance Oil Enhanced Options Income ETF) are both exchange-traded funds - CPAI is a Mid Cap Blend Equities fund actively managed by Counterpoint Funds, while USOY is a Derivative Income fund actively managed by Defiance. Both are actively managed. Over the past year, CPAI returned 41.32% vs 51.90% for USOY. At a 0.00 correlation, their price movements are largely independent. CPAI charges 0.75%/yr vs 1.22%/yr for USOY.

Performance

CPAI vs. USOY - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Counterpoint Quantitative Equity ETF (CPAI) 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, CPAI achieves a 23.24% return, which is significantly lower than USOY's 56.61% return.

CPAI

• 1D: -4.34%
• 1M: 3.69%
• YTD: 23.24%
• 6M: 24.51%
• 1Y: 41.32%
• 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)

CPAI vs. USOY - Yearly Performance Comparison

	2026 (YTD)	2025	2024
CPAI Counterpoint Quantitative Equity ETF	23.24%	17.79%	11.54%
USOY Defiance Oil Enhanced Options Income ETF	56.61%	-7.93%	7.27%

Correlation

The correlation between CPAI and USOY is -0.16, 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	-0.16
Correlation (All Time) Calculated using the full available price history since May 13, 2024	0.00

The correlation between CPAI and USOY shifts across timeframes, from -0.16 (1 year) to 0.00 (all time), reflecting how their relationship changes across market environments.

Return for Risk

CPAI vs. USOY — Risk / Return Rank

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

CPAI

CPAI Risk / Return Rank: 73
CPAI Sharpe Ratio Rank: 72
CPAI Sortino Ratio Rank: 67
CPAI Omega Ratio Rank: 67
CPAI Calmar Ratio Rank: 80
CPAI Martin Ratio Rank: 78

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.

CPAI vs. USOY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Counterpoint Quantitative Equity ETF (CPAI) 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.

	CPAI	USOY	Difference
Sharpe ratio: Return per unit of total volatility	2.22	1.71	+0.52
Sortino ratio: Return per unit of downside risk	2.90	2.13	+0.78
Omega ratio: Gain probability vs. loss probability	1.38	1.32	+0.06
Calmar ratio: Return relative to maximum drawdown	3.96	3.65	+0.31
Martin ratio: Return relative to average drawdown	14.36	6.98	+7.38
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

CPAI vs. USOY - Sharpe Ratio Comparison

The current CPAI Sharpe Ratio is 2.22, which is higher than the USOY Sharpe Ratio of 1.71. The chart below compares the historical Sharpe Ratios of CPAI 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

	CPAI	USOY	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.22	1.71	+0.52
Sharpe Ratio (All Time) Calculated using the full available price history	1.66	0.91	+0.76

Drawdowns

CPAI vs. USOY - Drawdown Comparison

The maximum CPAI drawdown since its inception was -21.46%, which is greater than USOY's maximum drawdown of -17.46%. Use the drawdown chart below to compare losses from any high point for CPAI and USOY.

Drawdown Indicators

	CPAI	USOY	Difference
Max Drawdown Largest peak-to-trough decline	-21.46%	-17.46%	-4.00%
Max Drawdown (1Y) Largest decline over 1 year	-10.48%	-14.29%	+3.81%
Current Drawdown Current decline from peak	-5.05%	-8.37%	+3.32%
Average Drawdown Average peak-to-trough decline	-2.97%	-6.47%	+3.50%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.89%	7.45%	-4.56%

Volatility

CPAI vs. USOY - Volatility Comparison

The current volatility for Counterpoint Quantitative Equity ETF (CPAI) is 7.25%, while Defiance Oil Enhanced Options Income ETF (USOY) has a volatility of 9.70%. This indicates that CPAI experiences smaller price fluctuations and is considered to be less risky than USOY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	CPAI	USOY	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.25%	9.70%	-2.45%
Volatility (6M) Calculated over the trailing 6-month period	15.23%	27.33%	-12.10%
Volatility (1Y) Calculated over the trailing 1-year period	18.68%	30.56%	-11.88%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	19.38%	26.14%	-6.76%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.38%	26.14%	-6.76%

CPAI vs. USOY - Expense Ratio Comparison

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

Dividends

CPAI vs. USOY - Dividend Comparison

CPAI's dividend yield for the trailing twelve months is around 0.72%, less than USOY's 57.61% yield.

Position	TTM	2025	2024	2023
CPAI Counterpoint Quantitative Equity ETF	0.72%	0.89%	0.41%	0.06%
USOY Defiance Oil Enhanced Options Income ETF	57.61%	104.32%	48.60%	0.00%

Frequently Asked Questions

Can I hold both CPAI and USOY in my portfolio?

CPAI and USOY have a correlation of -0.16, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, CPAI or USOY?

USOY has higher volatility (9.70%) compared to CPAI (7.25%). In terms of maximum drawdown, CPAI dropped -21.46% vs USOY's -17.46%.

Which ETF is better, CPAI or USOY?

On 1-year performance, USOY leads with 51.90% vs 41.32% for CPAI. On fees, CPAI is cheaper at 0.75% per year. On volatility, CPAI has been the lower-risk option at 7.25%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, CPAI or USOY?

Over the 1-year period, USOY has performed better with a 51.90% return vs 41.32%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, CPAI or USOY?

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

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

USOY has the higher dividend yield at 57.61%, compared with 0.72% for CPAI.

What is the main difference between CPAI and USOY?

CPAI is categorized as Mid Cap Blend Equities, while USOY is Derivative Income. They also come from different issuers: Counterpoint Funds and Defiance. Their fees differ too: 0.75% for CPAI and 1.22% for USOY.

Which has better risk-adjusted returns?

CPAI currently has the higher Sharpe Ratio (2.22 vs 1.71), 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.