DECM vs. USOY

Last updated Jun 24, 2026

DECM (FT Vest U.S. Equity Max Buffer ETF - December) and USOY (Defiance Oil Enhanced Options Income ETF) are both exchange-traded funds - DECM is a Defined Outcome fund tracking the S&P 500, while USOY is a Derivative Income fund actively managed by Defiance. DECM is passively managed, while USOY is actively managed. Over the past year, DECM returned 7.30% vs 26.28% for USOY. At a correlation of -0.14, they often move in opposite directions. DECM charges 0.85%/yr vs 1.22%/yr for USOY.

Performance

DECM vs. USOY - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in FT Vest U.S. Equity Max Buffer ETF - December (DECM) 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, DECM achieves a 2.34% return, which is significantly lower than USOY's 34.69% return.

DECM

• 1D: -0.19%
• 1M: 0.03%
• YTD: 2.34%
• 6M: 2.34%
• 1Y: 7.30%
• 3Y*: —
• 5Y*: —
• 10Y*: —

USOY

• 1D: -1.29%
• 1M: -17.01%
• YTD: 34.69%
• 6M: 34.18%
• 1Y: 26.28%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

DECM vs. USOY - Yearly Performance Comparison

	2026 (YTD)	2025	2024
DECM FT Vest U.S. Equity Max Buffer ETF - December	2.34%	6.85%	-0.13%
USOY Defiance Oil Enhanced Options Income ETF	34.69%	-7.93%	2.88%

Correlation

The correlation between DECM and USOY is -0.25, 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	-0.25
Correlation (All Time) Calculated using the full available price history since Dec 23, 2024	-0.14

The correlation between DECM and USOY shifts across timeframes, from -0.25 (1 year) to -0.14 (all time), reflecting how their relationship changes across market environments.

Return for Risk

DECM vs. USOY — Risk / Return Rank

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

DECM

DECM Risk / Return Rank: 92
DECM Sharpe Ratio Rank: 94
DECM Sortino Ratio Rank: 95
DECM Omega Ratio Rank: 95
DECM Calmar Ratio Rank: 85
DECM Martin Ratio Rank: 93

USOY

USOY Risk / Return Rank: 26
USOY Sharpe Ratio Rank: 25
USOY Sortino Ratio Rank: 23
USOY Omega Ratio Rank: 26
USOY Calmar Ratio Rank: 27
USOY Martin Ratio Rank: 30

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.

DECM vs. USOY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for FT Vest U.S. Equity Max Buffer ETF - December (DECM) 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.

	DECM	USOY	Difference
Sharpe ratio: Return per unit of total volatility	3.10	0.85	+2.25
Sortino ratio: Return per unit of downside risk	4.80	1.24	+3.55
Omega ratio: Gain probability vs. loss probability	1.67	1.18	+0.50
Calmar ratio: Return relative to maximum drawdown	4.29	1.25	+3.05
Martin ratio: Return relative to average drawdown	22.03	4.10	+17.92

DECM vs. USOY - Sharpe Ratio Comparison

The current DECM Sharpe Ratio is 3.10, which is higher than the USOY Sharpe Ratio of 0.85. The chart below compares the historical Sharpe Ratios of DECM 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

DECM vs. USOY - Drawdown Comparison

The maximum DECM drawdown since its inception was -3.00%, smaller than the maximum USOY drawdown of -21.19%. Use the drawdown chart below to compare losses from any high point for DECM and USOY.

Drawdown Indicators

	DECM	USOY	Difference
Max Drawdown Largest peak-to-trough decline	-3.00%	-21.19%	+18.19%
Max Drawdown (1Y) Largest decline over 1 year	-1.71%	-21.19%	+19.48%
Current Drawdown Current decline from peak	-0.28%	-21.19%	+20.91%
Average Drawdown Average peak-to-trough decline	-0.37%	-6.63%	+6.26%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.33%	6.44%	-6.11%

Volatility

DECM vs. USOY - Volatility Comparison

The current volatility for FT Vest U.S. Equity Max Buffer ETF - December (DECM) is 0.76%, while Defiance Oil Enhanced Options Income ETF (USOY) has a volatility of 10.34%. This indicates that DECM 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

	DECM	USOY	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.76%	10.34%	-9.58%
Volatility (6M) Calculated over the trailing 6-month period	1.92%	28.44%	-26.52%
Volatility (1Y) Calculated over the trailing 1-year period	2.39%	31.56%	-29.17%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	2.97%	26.51%	-23.54%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	2.97%	26.51%	-23.54%

DECM vs. USOY - Expense Ratio Comparison

DECM has a 0.85% expense ratio, which is lower than USOY's 1.22% expense ratio.

Dividends

DECM vs. USOY - Dividend Comparison

DECM has not paid dividends to shareholders, while USOY's dividend yield for the trailing twelve months is around 68.29%.

Position	TTM	2025	2024
DECM FT Vest U.S. Equity Max Buffer ETF - December	0.00%	0.00%	0.00%
USOY Defiance Oil Enhanced Options Income ETF	68.29%	104.32%	48.60%

Frequently Asked Questions

Can I hold both DECM and USOY in my portfolio?

DECM and USOY have a correlation of -0.25, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, DECM or USOY?

USOY has higher volatility (10.34%) compared to DECM (0.76%). In terms of maximum drawdown, DECM dropped -3.00% vs USOY's -21.19%.

Which ETF is better, DECM or USOY?

On 1-year performance, USOY leads with 26.28% vs 7.30% for DECM. On fees, DECM is cheaper at 0.85% per year. On volatility, DECM has been the lower-risk option at 0.76%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, DECM or USOY?

Over the 1-year period, USOY has performed better with a 26.28% return vs 7.30%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, DECM or USOY?

DECM is cheaper with a 0.85% expense ratio, compared with 1.22% for USOY.

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

USOY has the higher dividend yield at 68.29%, compared with 0.00% for DECM.

What is the main difference between DECM and USOY?

DECM is categorized as Defined Outcome, while USOY is Derivative Income. They also come from different issuers: FT Vest and Defiance. Their fees differ too: 0.85% for DECM and 1.22% for USOY.

Which has better risk-adjusted returns?

DECM currently has the higher Sharpe Ratio (3.10 vs 0.85), 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.