GIAX vs. USOY

Last updated Apr 1, 2026

Compare and contrast key facts about Nicholas Global Equity and Income ETF (GIAX) and Defiance Oil Enhanced Options Income ETF (USOY).

GIAX and USOY are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. GIAX is an actively managed fund by Nicholas. It was launched on Jul 29, 2024. USOY is an actively managed fund by Defiance. It was launched on May 9, 2024.

Performance

GIAX vs. USOY - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Nicholas Global Equity and Income ETF (GIAX) and Defiance Oil Enhanced Options Income ETF (USOY). The values are adjusted to include any dividend payments, if applicable.

GIAX vs. USOY - Yearly Performance Comparison

	2026 (YTD)	2025	2024
GIAX Nicholas Global Equity and Income ETF	-8.92%	11.73%	3.74%
USOY Defiance Oil Enhanced Options Income ETF	60.22%	-7.93%	7.74%

Returns By Period

In the year-to-date period, GIAX achieves a -8.92% return, which is significantly lower than USOY's 60.22% return.

GIAX

• 1D: 5.62%
• 1M: -7.07%
• YTD: -8.92%
• 6M: -9.08%
• 1Y: 9.24%
• 3Y*: —
• 5Y*: —
• 10Y*: —

USOY

• 1D: -0.54%
• 1M: 34.04%
• YTD: 60.22%
• 6M: 55.39%
• 1Y: 44.25%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

GIAX vs. USOY - Expense Ratio Comparison

GIAX has a 0.97% expense ratio, which is lower than USOY's 1.22% expense ratio.

USOY

Defiance Oil Enhanced Options Income ETF

GIAX

Nicholas Global Equity and Income ETF

Return for Risk

GIAX vs. USOY — Risk / Return Rank

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

GIAX

GIAX Risk / Return Rank: 26
GIAX Sharpe Ratio Rank: 25
GIAX Sortino Ratio Rank: 26
GIAX Omega Ratio Rank: 26
GIAX Calmar Ratio Rank: 24
GIAX Martin Ratio Rank: 28

USOY

USOY Risk / Return Rank: 80
USOY Sharpe Ratio Rank: 87
USOY Sortino Ratio Rank: 84
USOY Omega Ratio Rank: 83
USOY Calmar Ratio Rank: 89
USOY Martin Ratio Rank: 58

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.

GIAX vs. USOY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Nicholas Global Equity and Income ETF (GIAX) 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.

	GIAX	USOY	Difference
Sharpe ratio Return per unit of total volatility	0.39	1.75	-1.37
Sortino ratio Return per unit of downside risk	0.72	2.20	-1.48
Omega ratio Gain probability vs. loss probability	1.10	1.32	-0.22
Calmar ratio Return relative to maximum drawdown	0.49	2.91	-2.42
Martin ratio Return relative to average drawdown	2.18	5.47	-3.29
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

GIAX vs. USOY - Sharpe Ratio Comparison

The current GIAX Sharpe Ratio is 0.39, which is lower than the USOY Sharpe Ratio of 1.75. The chart below compares the historical Sharpe Ratios of GIAX and USOY, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	GIAX	USOY	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.39	1.75	-1.37
Sharpe Ratio (All Time) Calculated using the full available price history	0.16	1.24	-1.08

Correlation

The correlation between GIAX and USOY is 0.03, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.

Dividends

GIAX vs. USOY - Dividend Comparison

GIAX's dividend yield for the trailing twelve months is around 28.86%, less than USOY's 64.71% yield.

	TTM	2025	2024
GIAX Nicholas Global Equity and Income ETF	28.86%	25.62%	10.58%
USOY Defiance Oil Enhanced Options Income ETF	64.71%	104.32%	48.60%

Drawdowns

GIAX vs. USOY - Drawdown Comparison

The maximum GIAX drawdown since its inception was -20.38%, which is greater than USOY's maximum drawdown of -17.46%. Use the drawdown chart below to compare losses from any high point for GIAX and USOY.

Drawdown Indicators

	GIAX	USOY	Difference
Max Drawdown Largest peak-to-trough decline	-20.38%	-17.46%	-2.92%
Max Drawdown (1Y) Largest decline over 1 year	-17.62%	-15.70%	-1.92%
Current Drawdown Current decline from peak	-12.99%	-0.54%	-12.45%
Average Drawdown Average peak-to-trough decline	-3.05%	-6.56%	+3.51%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.97%	8.34%	-4.37%

Volatility

GIAX vs. USOY - Volatility Comparison

Nicholas Global Equity and Income ETF (GIAX) and Defiance Oil Enhanced Options Income ETF (USOY) have volatilities of 12.23% and 11.94%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	GIAX	USOY	Difference
Volatility (1M) Calculated over the trailing 1-month period	12.23%	11.94%	+0.29%
Volatility (6M) Calculated over the trailing 6-month period	18.18%	18.38%	-0.20%
Volatility (1Y) Calculated over the trailing 1-year period	23.87%	25.35%	-1.48%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	20.93%	22.37%	-1.44%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	20.93%	22.37%	-1.44%