FFIU vs. USOY

Last updated Jun 23, 2026

FFIU (UVA Unconstrained Medium-Term Fixed Income ETF) and USOY (Defiance Oil Enhanced Options Income ETF) are both exchange-traded funds - FFIU is a Corporate Bonds fund actively managed by Mcivy Co. LLC, while USOY is a Derivative Income fund actively managed by Defiance. Both are actively managed. Over the past year, FFIU returned 4.65% vs 21.51% for USOY. At a correlation of -0.17, they often move in opposite directions. FFIU charges 0.51%/yr vs 1.22%/yr for USOY.

Performance

FFIU vs. USOY - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in UVA Unconstrained Medium-Term Fixed Income ETF (FFIU) 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, FFIU achieves a -0.37% return, which is significantly lower than USOY's 36.45% return.

FFIU

• 1D: -0.52%
• 1M: 1.19%
• YTD: -0.37%
• 6M: 0.70%
• 1Y: 4.65%
• 3Y*: 4.04%
• 5Y*: -0.16%
• 10Y*: —

USOY

• 1D: -1.13%
• 1M: -15.93%
• YTD: 36.45%
• 6M: 36.24%
• 1Y: 21.51%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

FFIU vs. USOY - Yearly Performance Comparison

	2026 (YTD)	2025	2024
FFIU UVA Unconstrained Medium-Term Fixed Income ETF	-0.37%	8.55%	1.48%
USOY Defiance Oil Enhanced Options Income ETF	36.45%	-7.93%	6.13%

Correlation

The correlation between FFIU 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 May 10, 2024	-0.17

Return for Risk

FFIU vs. USOY — Risk / Return Rank

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

FFIU

FFIU Risk / Return Rank: 18
FFIU Sharpe Ratio Rank: 18
FFIU Sortino Ratio Rank: 17
FFIU Omega Ratio Rank: 17
FFIU Calmar Ratio Rank: 21
FFIU Martin Ratio Rank: 19

USOY

USOY Risk / Return Rank: 22
USOY Sharpe Ratio Rank: 20
USOY Sortino Ratio Rank: 19
USOY Omega Ratio Rank: 22
USOY Calmar Ratio Rank: 23
USOY Martin Ratio Rank: 26

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.

FFIU vs. USOY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for UVA Unconstrained Medium-Term Fixed Income ETF (FFIU) 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.

	FFIU	USOY	Difference
Sharpe ratio: Return per unit of total volatility	0.57	0.69	-0.12
Sortino ratio: Return per unit of downside risk	0.89	1.05	-0.17
Omega ratio: Gain probability vs. loss probability	1.11	1.15	-0.04
Calmar ratio: Return relative to maximum drawdown	0.97	1.07	-0.10
Martin ratio: Return relative to average drawdown	2.06	3.42	-1.36

FFIU vs. USOY - Sharpe Ratio Comparison

The current FFIU Sharpe Ratio is 0.57, which is comparable to the USOY Sharpe Ratio of 0.69. The chart below compares the historical Sharpe Ratios of FFIU 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

FFIU vs. USOY - Drawdown Comparison

The maximum FFIU drawdown since its inception was -20.43%, roughly equal to the maximum USOY drawdown of -20.17%. Use the drawdown chart below to compare losses from any high point for FFIU and USOY.

Drawdown Indicators

	FFIU	USOY	Difference
Max Drawdown Largest peak-to-trough decline	-20.43%	-20.17%	-0.26%
Max Drawdown (1Y) Largest decline over 1 year	-4.79%	-20.17%	+15.38%
Max Drawdown (3Y) Largest decline over 3 years	-7.26%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-20.43%	—	—
Current Drawdown Current decline from peak	-2.78%	-20.17%	+17.39%
Average Drawdown Average peak-to-trough decline	-5.41%	-6.61%	+1.20%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.26%	8.02%	-5.76%

Volatility

FFIU vs. USOY - Volatility Comparison

The current volatility for UVA Unconstrained Medium-Term Fixed Income ETF (FFIU) is 1.46%, while Defiance Oil Enhanced Options Income ETF (USOY) has a volatility of 10.33%. This indicates that FFIU 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

	FFIU	USOY	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.46%	10.33%	-8.87%
Volatility (6M) Calculated over the trailing 6-month period	4.75%	28.39%	-23.64%
Volatility (1Y) Calculated over the trailing 1-year period	8.20%	31.59%	-23.39%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	8.14%	26.52%	-18.38%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	7.20%	26.52%	-19.32%

FFIU vs. USOY - Expense Ratio Comparison

FFIU has a 0.51% expense ratio, which is lower than USOY's 1.22% expense ratio.

Dividends

FFIU vs. USOY - Dividend Comparison

FFIU's dividend yield for the trailing twelve months is around 3.99%, less than USOY's 67.41% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
FFIU UVA Unconstrained Medium-Term Fixed Income ETF	3.99%	3.89%	4.06%	3.78%	3.23%	3.24%	2.73%	2.90%	2.62%	0.66%
USOY Defiance Oil Enhanced Options Income ETF	67.41%	104.32%	48.60%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both FFIU and USOY in my portfolio?

FFIU 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, FFIU or USOY?

USOY has higher volatility (10.33%) compared to FFIU (1.46%). In terms of maximum drawdown, FFIU dropped -20.43% vs USOY's -20.17%.

Which ETF is better, FFIU or USOY?

On 1-year performance, USOY leads with 21.51% vs 4.65% for FFIU. On fees, FFIU is cheaper at 0.51% per year. On volatility, FFIU has been the lower-risk option at 1.46%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, FFIU or USOY?

Over the 1-year period, USOY has performed better with a 21.51% return vs 4.65%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, FFIU or USOY?

FFIU is cheaper with a 0.51% expense ratio, compared with 1.22% for USOY.

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

USOY has the higher dividend yield at 67.41%, compared with 3.99% for FFIU.

What is the main difference between FFIU and USOY?

FFIU is categorized as Corporate Bonds, while USOY is Derivative Income. They also come from different issuers: Mcivy Co. LLC and Defiance. Their fees differ too: 0.51% for FFIU and 1.22% for USOY.

Which has better risk-adjusted returns?

USOY currently has the higher Sharpe Ratio (0.69 vs 0.57), 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.