FTOH vs. USOY

Last updated Jun 5, 2026

FTOH (Franklin Ohio Municipal Income ETF) and USOY (Defiance Oil Enhanced Options Income ETF) are both exchange-traded funds - FTOH is a Municipal Bonds fund tracking the Actively Managed, while USOY is a Derivative Income fund actively managed by Defiance. FTOH is passively managed, while USOY is actively managed. At a correlation of -0.25, they often move in opposite directions. FTOH charges 0.35%/yr vs 1.22%/yr for USOY.

Performance

FTOH vs. USOY - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Franklin Ohio Municipal Income ETF (FTOH) 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, FTOH achieves a 2.25% return, which is significantly lower than USOY's 59.27% return.

FTOH

• 1D: 0.12%
• 1M: 1.06%
• YTD: 2.25%
• 6M: 2.84%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

USOY

• 1D: -1.79%
• 1M: -3.80%
• YTD: 59.27%
• 6M: 55.41%
• 1Y: 54.64%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

FTOH vs. USOY - Yearly Performance Comparison

	2026 (YTD)	2025
FTOH Franklin Ohio Municipal Income ETF	2.25%	0.20%
USOY Defiance Oil Enhanced Options Income ETF	59.27%	-1.29%

Correlation

The correlation between FTOH 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 (All Time) Calculated using the full available price history since Nov 11, 2025	-0.25

Return for Risk

FTOH vs. USOY — Risk / Return Rank

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

USOY

USOY Risk / Return Rank: 55
USOY Sharpe Ratio Rank: 54
USOY Sortino Ratio Rank: 45
USOY Omega Ratio Rank: 55
USOY Calmar Ratio Rank: 77
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.

FTOH vs. USOY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Franklin Ohio Municipal Income ETF (FTOH) 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.

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

Sharpe Ratios by Period

	FTOH	USOY	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	1.80	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.22	0.95	+0.27

Drawdowns

FTOH vs. USOY - Drawdown Comparison

The maximum FTOH drawdown since its inception was -2.59%, smaller than the maximum USOY drawdown of -17.46%. Use the drawdown chart below to compare losses from any high point for FTOH and USOY.

Drawdown Indicators

	FTOH	USOY	Difference
Max Drawdown Largest peak-to-trough decline	-2.59%	-17.46%	+14.87%
Max Drawdown (1Y) Largest decline over 1 year	—	-14.29%	—
Current Drawdown Current decline from peak	0.00%	-6.81%	+6.81%
Average Drawdown Average peak-to-trough decline	-0.57%	-6.47%	+5.90%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	7.43%	—

Volatility

Volatility by Period

	FTOH	USOY	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	11.67%	—
Volatility (6M) Calculated over the trailing 6-month period	—	27.26%	—
Volatility (1Y) Calculated over the trailing 1-year period	3.64%	30.50%	-26.86%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	3.64%	26.14%	-22.50%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	3.64%	26.14%	-22.50%

FTOH vs. USOY - Expense Ratio Comparison

FTOH has a 0.35% expense ratio, which is lower than USOY's 1.22% expense ratio.

Dividends

FTOH vs. USOY - Dividend Comparison

FTOH's dividend yield for the trailing twelve months is around 2.18%, less than USOY's 56.65% yield.

Position	TTM	2025	2024
FTOH Franklin Ohio Municipal Income ETF	2.18%	0.56%	0.00%
USOY Defiance Oil Enhanced Options Income ETF	56.65%	104.32%	48.60%

Frequently Asked Questions

Can I hold both FTOH and USOY in my portfolio?

FTOH 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 ETF is better, FTOH or USOY?

On fees, FTOH is cheaper at 0.35% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, FTOH or USOY?

FTOH is cheaper with a 0.35% expense ratio, compared with 1.22% for USOY.

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

USOY has the higher dividend yield at 56.65%, compared with 2.18% for FTOH.

What is the main difference between FTOH and USOY?

FTOH is categorized as Municipal Bonds, while USOY is Derivative Income. They also come from different issuers: Franklin Templeton and Defiance. Their fees differ too: 0.35% for FTOH and 1.22% for USOY.