EEMO vs. USOY

Last updated Jun 4, 2026

EEMO (Invesco S&P Emerging Markets Momentum ETF) and USOY (Defiance Oil Enhanced Options Income ETF) are both exchange-traded funds - EEMO is a Momentum fund tracking the S&P Momentum Emerging Plus LargeMidCap Index, while USOY is a Derivative Income fund actively managed by Defiance. EEMO is passively managed, while USOY is actively managed. Over the past year, EEMO returned 57.41% vs 57.29% for USOY. At a correlation of -0.06, they often move in opposite directions. EEMO charges 0.31%/yr vs 1.22%/yr for USOY.

Performance

EEMO vs. USOY - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco S&P Emerging Markets Momentum ETF (EEMO) 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, EEMO achieves a 40.25% return, which is significantly lower than USOY's 62.18% return.

EEMO

• 1D: -1.32%
• 1M: 18.59%
• YTD: 40.25%
• 6M: 41.33%
• 1Y: 57.41%
• 3Y*: 25.30%
• 5Y*: 7.19%
• 10Y*: 8.88%

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)

EEMO vs. USOY - Yearly Performance Comparison

	2026 (YTD)	2025	2024
EEMO Invesco S&P Emerging Markets Momentum ETF	40.25%	10.99%	2.20%
USOY Defiance Oil Enhanced Options Income ETF	62.18%	-7.93%	7.27%

Correlation

The correlation between EEMO 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	-0.06

Over the past year, the inverse relationship between EEMO and USOY has strengthened: their correlation has moved from -0.06 to -0.29, meaning they now move in opposite directions more often than their long-term average.

Return for Risk

EEMO vs. USOY — Risk / Return Rank

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

EEMO

EEMO Risk / Return Rank: 75
EEMO Sharpe Ratio Rank: 71
EEMO Sortino Ratio Rank: 72
EEMO Omega Ratio Rank: 77
EEMO Calmar Ratio Rank: 77
EEMO Martin Ratio Rank: 79

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.

EEMO vs. USOY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco S&P Emerging Markets Momentum ETF (EEMO) 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.

	EEMO	USOY	Difference
Sharpe ratio: Return per unit of total volatility	2.36	1.89	+0.47
Sortino ratio: Return per unit of downside risk	3.28	2.30	+0.98
Omega ratio: Gain probability vs. loss probability	1.46	1.35	+0.12
Calmar ratio: Return relative to maximum drawdown	3.91	4.03	-0.12
Martin ratio: Return relative to average drawdown	15.67	7.74	+7.93
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

EEMO vs. USOY - Sharpe Ratio Comparison

The current EEMO Sharpe Ratio is 2.36, which is comparable to the USOY Sharpe Ratio of 1.89. The chart below compares the historical Sharpe Ratios of EEMO 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

	EEMO	USOY	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.36	1.89	+0.47
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.37	—	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.41	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.13	0.99	-0.86

Drawdowns

EEMO vs. USOY - Drawdown Comparison

The maximum EEMO drawdown since its inception was -48.47%, which is greater than USOY's maximum drawdown of -17.46%. Use the drawdown chart below to compare losses from any high point for EEMO and USOY.

Drawdown Indicators

	EEMO	USOY	Difference
Max Drawdown Largest peak-to-trough decline	-48.47%	-17.46%	-31.01%
Max Drawdown (1Y) Largest decline over 1 year	-14.75%	-14.29%	-0.46%
Max Drawdown (3Y) Largest decline over 3 years	-26.06%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-34.03%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-46.57%	—	—
Current Drawdown Current decline from peak	-1.32%	-5.11%	+3.79%
Average Drawdown Average peak-to-trough decline	-20.17%	-6.47%	-13.70%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.67%	7.42%	-3.75%

Volatility

EEMO vs. USOY - Volatility Comparison

Invesco S&P Emerging Markets Momentum ETF (EEMO) has a higher volatility of 14.32% compared to Defiance Oil Enhanced Options Income ETF (USOY) at 11.62%. This indicates that EEMO's price experiences larger fluctuations and is considered to be riskier than USOY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	EEMO	USOY	Difference
Volatility (1M) Calculated over the trailing 1-month period	14.32%	11.62%	+2.70%
Volatility (6M) Calculated over the trailing 6-month period	22.10%	27.18%	-5.08%
Volatility (1Y) Calculated over the trailing 1-year period	24.45%	30.44%	-5.99%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	19.33%	26.13%	-6.80%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	21.59%	26.13%	-4.54%

EEMO vs. USOY - Expense Ratio Comparison

EEMO has a 0.31% expense ratio, which is lower than USOY's 1.22% expense ratio.

Dividends

EEMO vs. USOY - Dividend Comparison

EEMO's dividend yield for the trailing twelve months is around 1.64%, less than USOY's 54.16% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
EEMO Invesco S&P Emerging Markets Momentum ETF	1.64%	2.31%	2.57%	3.65%	3.82%	1.51%	1.53%	2.13%	13.10%	5.13%	1.55%	2.92%
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 EEMO and USOY in my portfolio?

EEMO 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, EEMO or USOY?

EEMO has higher volatility (14.32%) compared to USOY (11.62%). In terms of maximum drawdown, EEMO dropped -48.47% vs USOY's -17.46%.

Which ETF is better, EEMO or USOY?

On 1-year performance, EEMO leads with 57.41% vs 57.29% for USOY. On fees, EEMO is cheaper at 0.31% per year. On volatility, USOY has been the lower-risk option at 11.62%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, EEMO or USOY?

Over the 1-year period, EEMO has performed better with a 57.41% return vs 57.29%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, EEMO or USOY?

EEMO is cheaper with a 0.31% expense ratio, compared with 1.22% for USOY.

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

USOY has the higher dividend yield at 54.16%, compared with 1.64% for EEMO.

What is the main difference between EEMO and USOY?

EEMO is categorized as Momentum, while USOY is Derivative Income. They also come from different issuers: Invesco and Defiance. Their fees differ too: 0.31% for EEMO and 1.22% for USOY.

Which has better risk-adjusted returns?

EEMO currently has the higher Sharpe Ratio (2.36 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.