CRSH vs. USOY

Last updated Aug 5, 2026

CRSH (YieldMax Short TSLA Option Income Strategy ETF) and USOY (Defiance Oil Enhanced Options Income ETF) are both Derivative Income funds. Both are actively managed. Over the past year, CRSH returned -7.97% vs 30.47% for USOY. Their 0.03 correlation means their historical movements had little consistent relationship. CRSH charges 0.99%/yr vs 1.22%/yr for USOY.

Performance

CRSH vs. USOY - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in YieldMax Short TSLA Option Income Strategy ETF (CRSH) 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, CRSH achieves a 21.72% return, which is significantly lower than USOY's 37.86% return.

CRSH

• 1D: -1.60%
• 1M: 13.05%
• 6M: 14.20%
• YTD: 21.72%
• 1Y: -7.97%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: -26.35%

USOY

• 1D: -4.43%
• 1M: 7.60%
• 6M: 26.60%
• YTD: 37.86%
• 1Y: 30.47%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 14.27%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
CRSH YieldMax Short TSLA Option Income Strategy ETF	$457.04K	$338.01K	$365.84K
USOY Defiance Oil Enhanced Options Income ETF	$3.17M	$3.29M	$3.40M

CRSH vs. USOY - Yearly Performance Comparison

	2026 (YTD)	2025	2024
CRSH YieldMax Short TSLA Option Income Strategy ETF	21.72%	-13.40%	-53.80%
USOY Defiance Oil Enhanced Options Income ETF	37.86%	-7.93%	6.13%

Correlation

The correlation between CRSH and USOY is 0.16, which is low. Their historical price movements had little consistent relationship.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.16
Correlation (All Time) Calculated using the full available price history since May 10, 2024	0.03

The correlation between CRSH and USOY shifts across timeframes, from 0.03 (all time) to 0.16 (1 year), reflecting how their relationship changes across market environments.

Return for Risk

CRSH vs. USOY — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

CRSH

CRSH Risk / Return Rank: 8
CRSH Sharpe Ratio Rank: 7
CRSH Sortino Ratio Rank: 8
CRSH Omega Ratio Rank: 8
CRSH Calmar Ratio Rank: 7
CRSH Martin Ratio Rank: 7

USOY

USOY Risk / Return Rank: 32
USOY Sharpe Ratio Rank: 32
USOY Sortino Ratio Rank: 31
USOY Omega Ratio Rank: 33
USOY Calmar Ratio Rank: 33
USOY Martin Ratio Rank: 34

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

CRSH vs. USOY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for YieldMax Short TSLA Option Income Strategy ETF (CRSH) 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.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

	CRSH	USOY	Difference
Sharpe ratio: Return per unit of total volatility	-0.22	0.86	-1.08
Sortino ratio: Return per unit of downside risk	-0.06	1.30	-1.36
Omega ratio: Gain probability vs. loss probability	0.99	1.18	-0.18
Calmar ratio: Return relative to maximum drawdown	-0.26	1.20	-1.46
Martin ratio: Return relative to average drawdown	-0.41	3.50	-3.92

CRSH vs. USOY - Sharpe Ratio Comparison

The current CRSH Sharpe Ratio is -0.22, which is lower than the USOY Sharpe Ratio of 0.86. The chart below compares the historical Sharpe Ratios of CRSH 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.

Drawdowns

CRSH vs. USOY - Drawdown Comparison

The maximum CRSH drawdown since its inception was -63.68%, which is greater than USOY's maximum drawdown of -25.51%. Use the drawdown chart below to compare losses from any high point for CRSH and USOY.

Drawdown Indicators

	CRSH	USOY	Difference
Max Drawdown Largest peak-to-trough decline	-63.68%	-25.51%	-38.17%
Max Drawdown (1Y) Largest decline over 1 year	-30.50%	-25.51%	-4.99%
Current Drawdown Current decline from peak	-52.11%	-19.34%	-32.77%
Average Drawdown Average peak-to-trough decline	-44.01%	-7.20%	-36.81%
Ulcer Index Depth and duration of drawdowns from previous peaks	19.37%	8.72%	+10.65%

Volatility

CRSH vs. USOY - Volatility Comparison

The current volatility for YieldMax Short TSLA Option Income Strategy ETF (CRSH) is 12.40%, while Defiance Oil Enhanced Options Income ETF (USOY) has a volatility of 17.04%. This indicates that CRSH 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

	CRSH	USOY	Difference
Volatility (1M) Calculated over the trailing 1-month period	12.40%	17.04%	-4.64%
Volatility (6M) Calculated over the trailing 6-month period	26.58%	32.89%	-6.31%
Volatility (1Y) Calculated over the trailing 1-year period	36.86%	35.44%	+1.42%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	47.45%	28.49%	+18.96%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	47.45%	28.49%	+18.96%

CRSH vs. USOY - Expense Ratio Comparison

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

Dividends

CRSH vs. USOY - Dividend Comparison

CRSH's dividend yield for the trailing twelve months is around 78.07%, more than USOY's 62.08% yield.

Position	TTM	2025	2024
CRSH YieldMax Short TSLA Option Income Strategy ETF	78.07%	138.78%	94.25%
USOY Defiance Oil Enhanced Options Income ETF	62.08%	104.32%	48.60%

Frequently Asked Questions

Can I hold both CRSH and USOY in my portfolio?

CRSH 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, CRSH or USOY?

USOY has higher volatility (17.04%) compared to CRSH (12.40%). In terms of maximum drawdown, CRSH dropped -63.68% vs USOY's -25.51%.

Which ETF is better, CRSH or USOY?

On 1-year performance, USOY leads with 30.47% vs -7.97% for CRSH. On fees, CRSH is cheaper at 0.99% per year. On volatility, CRSH has been the lower-risk option at 12.40%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, CRSH or USOY?

Over the 1-year period, USOY has performed better with a 30.47% return vs -7.97%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, CRSH or USOY?

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

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

CRSH has the higher dividend yield at 78.07%, compared with 62.08% for USOY.

What is the main difference between CRSH and USOY?

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

Which has better risk-adjusted returns?

USOY currently has the higher Sharpe Ratio (0.86 vs -0.22), 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.