EMCS vs. USOY

Last updated Jun 3, 2026

EMCS (Xtrackers MSCI Emerging Markets Climate Selection ETF) and USOY (Defiance Oil Enhanced Options Income ETF) are both exchange-traded funds - EMCS is a Emerging Markets Equities fund tracking the MSCI Emerging Markets Climate Select Index, while USOY is a Derivative Income fund actively managed by Defiance. EMCS is passively managed, while USOY is actively managed. Over the past year, EMCS returned 67.22% vs 55.52% for USOY. At a correlation of -0.03, they often move in opposite directions. EMCS charges 0.15%/yr vs 1.22%/yr for USOY.

Performance

EMCS vs. USOY - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Xtrackers MSCI Emerging Markets Climate Selection ETF (EMCS) 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, EMCS achieves a 35.45% return, which is significantly lower than USOY's 59.86% return.

EMCS

• 1D: 1.81%
• 1M: 14.49%
• YTD: 35.45%
• 6M: 39.15%
• 1Y: 67.22%
• 3Y*: 28.16%
• 5Y*: 8.46%
• 10Y*: —

USOY

• 1D: 1.63%
• 1M: -1.93%
• YTD: 59.86%
• 6M: 58.33%
• 1Y: 55.52%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

EMCS vs. USOY - Yearly Performance Comparison

	2026 (YTD)	2025	2024
EMCS Xtrackers MSCI Emerging Markets Climate Selection ETF	35.45%	38.71%	3.07%
USOY Defiance Oil Enhanced Options Income ETF	59.86%	-7.93%	7.27%

Correlation

The correlation between EMCS and USOY is -0.28, 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	-0.28
Correlation (All Time) Calculated using the full available price history since May 13, 2024	-0.03

Over the past year, the inverse relationship between EMCS and USOY has strengthened: their correlation has moved from -0.03 to -0.28, meaning they now move in opposite directions more often than their long-term average.

Return for Risk

EMCS vs. USOY — Risk / Return Rank

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

EMCS

EMCS Risk / Return Rank: 86
EMCS Sharpe Ratio Rank: 88
EMCS Sortino Ratio Rank: 84
EMCS Omega Ratio Rank: 86
EMCS Calmar Ratio Rank: 85
EMCS Martin Ratio Rank: 86

USOY

USOY Risk / Return Rank: 56
USOY Sharpe Ratio Rank: 53
USOY Sortino Ratio Rank: 45
USOY Omega Ratio Rank: 54
USOY Calmar Ratio Rank: 79
USOY Martin Ratio Rank: 47

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.

EMCS vs. USOY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Xtrackers MSCI Emerging Markets Climate Selection ETF (EMCS) 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.

	EMCS	USOY	Difference
Sharpe ratio Return per unit of total volatility	3.03	1.83	+1.19
Sortino ratio Return per unit of downside risk	3.84	2.25	+1.59
Omega ratio Gain probability vs. loss probability	1.54	1.34	+0.20
Calmar ratio Return relative to maximum drawdown	4.78	4.10	+0.68
Martin ratio Return relative to average drawdown	18.54	7.91	+10.63
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

EMCS vs. USOY - Sharpe Ratio Comparison

The current EMCS Sharpe Ratio is 3.03, which is higher than the USOY Sharpe Ratio of 1.83. The chart below compares the historical Sharpe Ratios of EMCS 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

	EMCS	USOY	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	3.03	1.83	+1.19
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.41	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.55	0.96	-0.40

Drawdowns

EMCS vs. USOY - Drawdown Comparison

The maximum EMCS drawdown since its inception was -44.86%, which is greater than USOY's maximum drawdown of -17.46%. Use the drawdown chart below to compare losses from any high point for EMCS and USOY.

Drawdown Indicators

	EMCS	USOY	Difference
Max Drawdown Largest peak-to-trough decline	-44.86%	-17.46%	-27.40%
Max Drawdown (1Y) Largest decline over 1 year	-14.32%	-14.29%	-0.03%
Max Drawdown (3Y) Largest decline over 3 years	-16.73%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-42.06%	—	—
Current Drawdown Current decline from peak	0.00%	-6.47%	+6.47%
Average Drawdown Average peak-to-trough decline	-16.62%	-6.47%	-10.15%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.69%	7.42%	-3.73%

Volatility

EMCS vs. USOY - Volatility Comparison

The current volatility for Xtrackers MSCI Emerging Markets Climate Selection ETF (EMCS) is 9.71%, while Defiance Oil Enhanced Options Income ETF (USOY) has a volatility of 11.94%. This indicates that EMCS 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

	EMCS	USOY	Difference
Volatility (1M) Calculated over the trailing 1-month period	9.71%	11.94%	-2.23%
Volatility (6M) Calculated over the trailing 6-month period	19.36%	27.16%	-7.80%
Volatility (1Y) Calculated over the trailing 1-year period	22.33%	30.46%	-8.13%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	20.63%	26.14%	-5.51%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	21.65%	26.14%	-4.49%

EMCS vs. USOY - Expense Ratio Comparison

EMCS has a 0.15% expense ratio, which is lower than USOY's 1.22% expense ratio.

Dividends

EMCS vs. USOY - Dividend Comparison

EMCS's dividend yield for the trailing twelve months is around 1.23%, less than USOY's 54.95% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019
EMCS Xtrackers MSCI Emerging Markets Climate Selection ETF	1.23%	1.66%	0.67%	3.07%	2.26%	1.46%	1.40%	3.56%
USOY Defiance Oil Enhanced Options Income ETF	54.95%	104.32%	48.60%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both EMCS and USOY in my portfolio?

EMCS and USOY have a correlation of -0.28, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, EMCS or USOY?

USOY has higher volatility (11.94%) compared to EMCS (9.71%). In terms of maximum drawdown, EMCS dropped -44.86% vs USOY's -17.46%.

Which ETF is better, EMCS or USOY?

On 1-year performance, EMCS leads with 67.22% vs 55.52% for USOY. On fees, EMCS is cheaper at 0.15% per year. On volatility, EMCS has been the lower-risk option at 9.71%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, EMCS or USOY?

Over the 1-year period, EMCS has performed better with a 67.22% return vs 55.52%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, EMCS or USOY?

EMCS is cheaper with a 0.15% expense ratio, compared with 1.22% for USOY.

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

USOY has the higher dividend yield at 54.95%, compared with 1.23% for EMCS.

What is the main difference between EMCS and USOY?

EMCS is categorized as Emerging Markets Equities, while USOY is Derivative Income. They also come from different issuers: Xtrackers and Defiance. Their fees differ too: 0.15% for EMCS and 1.22% for USOY.

Which has better risk-adjusted returns?

EMCS currently has the higher Sharpe Ratio (3.03 vs 1.83), 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.