DEM vs. USOY

Last updated Jun 4, 2026

DEM (WisdomTree Emerging Markets Equity Income Fund) and USOY (Defiance Oil Enhanced Options Income ETF) are both exchange-traded funds - DEM is a Emerging Markets Equities fund tracking the WisdomTree Emerging Markets Equity income Index, while USOY is a Derivative Income fund actively managed by Defiance. DEM is passively managed, while USOY is actively managed. Over the past year, DEM returned 32.23% vs 57.29% for USOY. At a 0.00 correlation, their price movements are largely independent. DEM charges 0.63%/yr vs 1.22%/yr for USOY.

Performance

DEM vs. USOY - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in WisdomTree Emerging Markets Equity Income Fund (DEM) 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, DEM achieves a 19.97% return, which is significantly lower than USOY's 62.18% return.

DEM

• 1D: -1.19%
• 1M: 6.63%
• YTD: 19.97%
• 6M: 20.75%
• 1Y: 32.23%
• 3Y*: 19.32%
• 5Y*: 9.57%
• 10Y*: 10.45%

USOY

• 1D: 1.45%
• 1M: -3.43%
• YTD: 62.18%
• 6M: 59.35%
• 1Y: 57.29%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

DEM vs. USOY - Yearly Performance Comparison

	2026 (YTD)	2025	2024
DEM WisdomTree Emerging Markets Equity Income Fund	19.97%	21.29%	-3.32%
USOY Defiance Oil Enhanced Options Income ETF	62.18%	-7.93%	7.27%

Correlation

The correlation between DEM and USOY is -0.29, 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	-0.29
Correlation (All Time) Calculated using the full available price history since May 13, 2024	0.00

The correlation between DEM and USOY shifts across timeframes, from -0.29 (1 year) to 0.00 (all time), reflecting how their relationship changes across market environments.

Return for Risk

DEM vs. USOY — Risk / Return Rank

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

DEM

DEM Risk / Return Rank: 74
DEM Sharpe Ratio Rank: 72
DEM Sortino Ratio Rank: 71
DEM Omega Ratio Rank: 71
DEM Calmar Ratio Rank: 79
DEM Martin Ratio Rank: 75

USOY

USOY Risk / Return Rank: 56
USOY Sharpe Ratio Rank: 55
USOY Sortino Ratio Rank: 46
USOY Omega Ratio Rank: 55
USOY Calmar Ratio Rank: 78
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.

DEM vs. USOY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for WisdomTree Emerging Markets Equity Income Fund (DEM) 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.

	DEM	USOY	Difference
Sharpe ratio Return per unit of total volatility	2.38	1.89	+0.49
Sortino ratio Return per unit of downside risk	3.28	2.30	+0.99
Omega ratio Gain probability vs. loss probability	1.43	1.35	+0.08
Calmar ratio Return relative to maximum drawdown	4.10	4.03	+0.07
Martin ratio Return relative to average drawdown	14.52	7.74	+6.78
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

DEM vs. USOY - Sharpe Ratio Comparison

The current DEM Sharpe Ratio is 2.38, which is comparable to the USOY Sharpe Ratio of 1.89. The chart below compares the historical Sharpe Ratios of DEM 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

	DEM	USOY	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.38	1.89	+0.49
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.63	—	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.58	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.22	0.99	-0.77

Drawdowns

DEM vs. USOY - Drawdown Comparison

The maximum DEM drawdown since its inception was -51.85%, which is greater than USOY's maximum drawdown of -17.46%. Use the drawdown chart below to compare losses from any high point for DEM and USOY.

Drawdown Indicators

	DEM	USOY	Difference
Max Drawdown Largest peak-to-trough decline	-51.85%	-17.46%	-34.39%
Max Drawdown (1Y) Largest decline over 1 year	-7.89%	-14.29%	+6.40%
Max Drawdown (3Y) Largest decline over 3 years	-15.64%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-27.18%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-37.79%	—	—
Current Drawdown Current decline from peak	-1.19%	-5.11%	+3.92%
Average Drawdown Average peak-to-trough decline	-12.90%	-6.47%	-6.43%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.22%	7.42%	-5.20%

Volatility

DEM vs. USOY - Volatility Comparison

The current volatility for WisdomTree Emerging Markets Equity Income Fund (DEM) is 5.64%, while Defiance Oil Enhanced Options Income ETF (USOY) has a volatility of 11.62%. This indicates that DEM 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

	DEM	USOY	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.64%	11.62%	-5.98%
Volatility (6M) Calculated over the trailing 6-month period	11.33%	27.18%	-15.85%
Volatility (1Y) Calculated over the trailing 1-year period	13.59%	30.44%	-16.85%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.33%	26.13%	-10.80%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.96%	26.13%	-8.17%

DEM vs. USOY - Expense Ratio Comparison

DEM has a 0.63% expense ratio, which is lower than USOY's 1.22% expense ratio.

Dividends

DEM vs. USOY - Dividend Comparison

DEM's dividend yield for the trailing twelve months is around 3.76%, less than USOY's 54.16% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
DEM WisdomTree Emerging Markets Equity Income Fund	3.76%	4.88%	5.24%	5.49%	8.62%	5.87%	4.21%	4.78%	4.47%	3.67%	3.63%	5.21%
USOY Defiance Oil Enhanced Options Income ETF	54.16%	104.32%	48.60%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both DEM and USOY in my portfolio?

DEM and USOY have a correlation of -0.29, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, DEM or USOY?

USOY has higher volatility (11.62%) compared to DEM (5.64%). In terms of maximum drawdown, DEM dropped -51.85% vs USOY's -17.46%.

Which ETF is better, DEM or USOY?

On 1-year performance, USOY leads with 57.29% vs 32.23% for DEM. On fees, DEM is cheaper at 0.63% per year. On volatility, DEM has been the lower-risk option at 5.64%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, DEM or USOY?

Over the 1-year period, USOY has performed better with a 57.29% return vs 32.23%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, DEM or USOY?

DEM is cheaper with a 0.63% expense ratio, compared with 1.22% for USOY.

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

USOY has the higher dividend yield at 54.16%, compared with 3.76% for DEM.

What is the main difference between DEM and USOY?

DEM is categorized as Emerging Markets Equities, while USOY is Derivative Income. They also come from different issuers: WisdomTree and Defiance. Their fees differ too: 0.63% for DEM and 1.22% for USOY.

Which has better risk-adjusted returns?

DEM currently has the higher Sharpe Ratio (2.38 vs 1.89), 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.