CRCO vs. USOY

Last updated Jun 5, 2026

CRCO (YieldMax CRCL Option Income Strategy ETF) and USOY (Defiance Oil Enhanced Options Income ETF) are both Derivative Income funds. Both are actively managed. At a 0.02 correlation, their price movements are largely independent. CRCO charges 1.01%/yr vs 1.22%/yr for USOY.

Performance

CRCO vs. USOY - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in YieldMax CRCL Option Income Strategy ETF (CRCO) 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, CRCO achieves a 13.91% return, which is significantly lower than USOY's 59.27% return.

CRCO

• 1D: 0.68%
• 1M: -16.10%
• YTD: 13.91%
• 6M: 7.84%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

USOY

• 1D: -1.79%
• 1M: -3.80%
• YTD: 59.27%
• 6M: 55.41%
• 1Y: 54.64%
• 3Y*: —
• 5Y*: —
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

CRCO vs. USOY - Yearly Performance Comparison

	2026 (YTD)	2025
CRCO YieldMax CRCL Option Income Strategy ETF	13.91%	-36.94%
USOY Defiance Oil Enhanced Options Income ETF	59.27%	-3.01%

Correlation

The correlation between CRCO and USOY is 0.02, 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 1, 2025	0.02

Return for Risk

CRCO 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: 55
USOY Sharpe Ratio Rank: 54
USOY Sortino Ratio Rank: 45
USOY Omega Ratio Rank: 55
USOY Calmar Ratio Rank: 77
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.

CRCO vs. USOY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for YieldMax CRCL Option Income Strategy ETF (CRCO) 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

	CRCO	USOY	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	1.80	—
Sharpe Ratio (All Time) Calculated using the full available price history	-0.45	0.95	-1.40

Drawdowns

CRCO vs. USOY - Drawdown Comparison

The maximum CRCO drawdown since its inception was -61.75%, which is greater than USOY's maximum drawdown of -17.46%. Use the drawdown chart below to compare losses from any high point for CRCO and USOY.

Drawdown Indicators

	CRCO	USOY	Difference
Max Drawdown Largest peak-to-trough decline	-61.75%	-17.46%	-44.29%
Max Drawdown (1Y) Largest decline over 1 year	—	-14.29%	—
Current Drawdown Current decline from peak	-35.95%	-6.81%	-29.14%
Average Drawdown Average peak-to-trough decline	-33.20%	-6.47%	-26.73%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	7.43%	—

Volatility

Volatility by Period

	CRCO	USOY	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	11.67%	—
Volatility (6M) Calculated over the trailing 6-month period	—	27.26%	—
Volatility (1Y) Calculated over the trailing 1-year period	86.40%	30.50%	+55.90%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	86.40%	26.14%	+60.26%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	86.40%	26.14%	+60.26%

CRCO vs. USOY - Expense Ratio Comparison

CRCO has a 1.01% expense ratio, which is lower than USOY's 1.22% expense ratio.

Dividends

CRCO vs. USOY - Dividend Comparison

CRCO's dividend yield for the trailing twelve months is around 93.61%, more than USOY's 56.65% yield.

Position	TTM	2025	2024
CRCO YieldMax CRCL Option Income Strategy ETF	93.61%	35.79%	0.00%
USOY Defiance Oil Enhanced Options Income ETF	56.65%	104.32%	48.60%

Frequently Asked Questions

Can I hold both CRCO and USOY in my portfolio?

CRCO and USOY have a correlation of 0.02, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, CRCO or USOY?

On fees, CRCO is cheaper at 1.01% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, CRCO or USOY?

CRCO is cheaper with a 1.01% expense ratio, compared with 1.22% for USOY.

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

CRCO has the higher dividend yield at 93.61%, compared with 56.65% for USOY.

What is the main difference between CRCO and USOY?

They also come from different issuers: YieldMax and Defiance. Their fees differ too: 1.01% for CRCO and 1.22% for USOY.