EMQQ vs. USOY

Last updated Jun 3, 2026

EMQQ (EMQQ The Emerging Markets Internet ETF) and USOY (Defiance Oil Enhanced Options Income ETF) are both exchange-traded funds - EMQQ is a Emerging Markets Equities fund tracking the EMQQ The Emerging Markets Internet Index, while USOY is a Derivative Income fund actively managed by Defiance. EMQQ is passively managed, while USOY is actively managed. Over the past year, EMQQ returned -13.29% vs 55.52% for USOY. At a correlation of -0.03, they often move in opposite directions. EMQQ charges 0.86%/yr vs 1.22%/yr for USOY.

Performance

EMQQ vs. USOY - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in EMQQ The Emerging Markets Internet ETF (EMQQ) 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, EMQQ achieves a -17.59% return, which is significantly lower than USOY's 59.86% return.

EMQQ

• 1D: 1.06%
• 1M: -3.20%
• YTD: -17.59%
• 6M: -19.58%
• 1Y: -13.29%
• 3Y*: 6.20%
• 5Y*: -10.61%
• 10Y*: 4.86%

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)

EMQQ vs. USOY - Yearly Performance Comparison

	2026 (YTD)	2025	2024
EMQQ EMQQ The Emerging Markets Internet ETF	-17.59%	20.66%	1.82%
USOY Defiance Oil Enhanced Options Income ETF	59.86%	-7.93%	7.27%

Correlation

The correlation between EMQQ and USOY is -0.26, 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	-0.26
Correlation (All Time) Calculated using the full available price history since May 13, 2024	-0.03

Over the past year, the inverse relationship between EMQQ and USOY has strengthened: their correlation has moved from -0.03 to -0.26, meaning they now move in opposite directions more often than their long-term average.

Return for Risk

EMQQ vs. USOY — Risk / Return Rank

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

EMQQ

EMQQ Risk / Return Rank: 4
EMQQ Sharpe Ratio Rank: 3
EMQQ Sortino Ratio Rank: 3
EMQQ Omega Ratio Rank: 3
EMQQ Calmar Ratio Rank: 5
EMQQ Martin Ratio Rank: 5

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.

EMQQ vs. USOY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for EMQQ The Emerging Markets Internet ETF (EMQQ) 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.

	EMQQ	USOY	Difference
Sharpe ratio Return per unit of total volatility	-0.65	1.83	-2.49
Sortino ratio Return per unit of downside risk	-0.84	2.25	-3.08
Omega ratio Gain probability vs. loss probability	0.91	1.34	-0.43
Calmar ratio Return relative to maximum drawdown	-0.41	4.10	-4.51
Martin ratio Return relative to average drawdown	-0.83	7.91	-8.73
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

EMQQ vs. USOY - Sharpe Ratio Comparison

The current EMQQ Sharpe Ratio is -0.65, which is lower than the USOY Sharpe Ratio of 1.83. The chart below compares the historical Sharpe Ratios of EMQQ 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

	EMQQ	USOY	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.65	1.83	-2.49
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.32	—	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.16	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.10	0.96	-0.86

Drawdowns

EMQQ vs. USOY - Drawdown Comparison

The maximum EMQQ drawdown since its inception was -73.24%, which is greater than USOY's maximum drawdown of -17.46%. Use the drawdown chart below to compare losses from any high point for EMQQ and USOY.

Drawdown Indicators

	EMQQ	USOY	Difference
Max Drawdown Largest peak-to-trough decline	-73.24%	-17.46%	-55.78%
Max Drawdown (1Y) Largest decline over 1 year	-29.96%	-14.29%	-15.67%
Max Drawdown (3Y) Largest decline over 3 years	-29.96%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-66.31%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-73.24%	—	—
Current Drawdown Current decline from peak	-56.59%	-6.47%	-50.12%
Average Drawdown Average peak-to-trough decline	-31.35%	-6.47%	-24.88%
Ulcer Index Depth and duration of drawdowns from previous peaks	14.93%	7.42%	+7.51%

Volatility

EMQQ vs. USOY - Volatility Comparison

The current volatility for EMQQ The Emerging Markets Internet ETF (EMQQ) is 6.58%, while Defiance Oil Enhanced Options Income ETF (USOY) has a volatility of 11.94%. This indicates that EMQQ 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

	EMQQ	USOY	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.58%	11.94%	-5.36%
Volatility (6M) Calculated over the trailing 6-month period	16.17%	27.16%	-10.99%
Volatility (1Y) Calculated over the trailing 1-year period	20.46%	30.46%	-10.00%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	33.12%	26.14%	+6.98%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	30.60%	26.14%	+4.46%

EMQQ vs. USOY - Expense Ratio Comparison

EMQQ has a 0.86% expense ratio, which is lower than USOY's 1.22% expense ratio.

Dividends

EMQQ vs. USOY - Dividend Comparison

EMQQ's dividend yield for the trailing twelve months is around 3.75%, less than USOY's 54.95% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
EMQQ EMQQ The Emerging Markets Internet ETF	3.75%	3.09%	1.70%	0.79%	0.00%	0.00%	0.18%	1.29%	0.00%	0.94%	0.75%	0.08%
USOY Defiance Oil Enhanced Options Income ETF	54.95%	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 EMQQ and USOY in my portfolio?

EMQQ and USOY have a correlation of -0.26, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, EMQQ or USOY?

USOY has higher volatility (11.94%) compared to EMQQ (6.58%). In terms of maximum drawdown, EMQQ dropped -73.24% vs USOY's -17.46%.

Which ETF is better, EMQQ or USOY?

On 1-year performance, USOY leads with 55.52% vs -13.29% for EMQQ. On fees, EMQQ is cheaper at 0.86% per year. On volatility, EMQQ has been the lower-risk option at 6.58%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, EMQQ or USOY?

Over the 1-year period, USOY has performed better with a 55.52% return vs -13.29%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, EMQQ or USOY?

EMQQ is cheaper with a 0.86% expense ratio, compared with 1.22% for USOY.

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

USOY has the higher dividend yield at 54.95%, compared with 3.75% for EMQQ.

What is the main difference between EMQQ and USOY?

EMQQ is categorized as Emerging Markets Equities, while USOY is Derivative Income. They also come from different issuers: Exchange Traded Concepts and Defiance. Their fees differ too: 0.86% for EMQQ and 1.22% for USOY.

Which has better risk-adjusted returns?

USOY currently has the higher Sharpe Ratio (1.83 vs -0.65), 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.