GLCR vs. USOY

Last updated Jun 24, 2026

GLCR (GlacierShares Nasdaq Iceland ETF) and USOY (Defiance Oil Enhanced Options Income ETF) are both exchange-traded funds - GLCR is a Europe Equities fund tracking the MarketVector Iceland Global Total Return Net Index, while USOY is a Derivative Income fund actively managed by Defiance. GLCR is passively managed, while USOY is actively managed. Over the past year, GLCR returned -6.76% vs 26.28% for USOY. At a correlation of -0.15, they often move in opposite directions. GLCR charges 0.95%/yr vs 1.22%/yr for USOY.

Performance

GLCR vs. USOY - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in GlacierShares Nasdaq Iceland ETF (GLCR) 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, GLCR achieves a -12.59% return, which is significantly lower than USOY's 34.69% return.

GLCR

• 1D: -0.79%
• 1M: -11.61%
• YTD: -12.59%
• 6M: -11.75%
• 1Y: -6.76%
• 3Y*: —
• 5Y*: —
• 10Y*: —

USOY

• 1D: -1.29%
• 1M: -17.01%
• YTD: 34.69%
• 6M: 34.18%
• 1Y: 26.28%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

GLCR vs. USOY - Yearly Performance Comparison

	2026 (YTD)	2025
GLCR GlacierShares Nasdaq Iceland ETF	-12.59%	7.26%
USOY Defiance Oil Enhanced Options Income ETF	34.69%	-9.68%

Correlation

The correlation between GLCR 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 Mar 27, 2025	-0.15

The correlation between GLCR and USOY shifts across timeframes, from -0.25 (1 year) to -0.15 (all time), reflecting how their relationship changes across market environments.

Return for Risk

GLCR vs. USOY — Risk / Return Rank

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

GLCR

GLCR Risk / Return Rank: 5
GLCR Sharpe Ratio Rank: 6
GLCR Sortino Ratio Rank: 5
GLCR Omega Ratio Rank: 5
GLCR Calmar Ratio Rank: 6
GLCR Martin Ratio Rank: 5

USOY

USOY Risk / Return Rank: 26
USOY Sharpe Ratio Rank: 25
USOY Sortino Ratio Rank: 23
USOY Omega Ratio Rank: 26
USOY Calmar Ratio Rank: 27
USOY Martin Ratio Rank: 30

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.

GLCR vs. USOY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for GlacierShares Nasdaq Iceland ETF (GLCR) 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.

	GLCR	USOY	Difference
Sharpe ratio: Return per unit of total volatility	-0.41	0.85	-1.25
Sortino ratio: Return per unit of downside risk	-0.44	1.24	-1.68
Omega ratio: Gain probability vs. loss probability	0.94	1.18	-0.23
Calmar ratio: Return relative to maximum drawdown	-0.36	1.25	-1.61
Martin ratio: Return relative to average drawdown	-0.94	4.10	-5.05

GLCR vs. USOY - Sharpe Ratio Comparison

The current GLCR Sharpe Ratio is -0.41, which is lower than the USOY Sharpe Ratio of 0.85. The chart below compares the historical Sharpe Ratios of GLCR 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

GLCR vs. USOY - Drawdown Comparison

The maximum GLCR drawdown since its inception was -18.74%, smaller than the maximum USOY drawdown of -21.19%. Use the drawdown chart below to compare losses from any high point for GLCR and USOY.

Drawdown Indicators

	GLCR	USOY	Difference
Max Drawdown Largest peak-to-trough decline	-18.74%	-21.19%	+2.45%
Max Drawdown (1Y) Largest decline over 1 year	-18.74%	-21.19%	+2.45%
Current Drawdown Current decline from peak	-18.74%	-21.19%	+2.45%
Average Drawdown Average peak-to-trough decline	-5.15%	-6.63%	+1.48%
Ulcer Index Depth and duration of drawdowns from previous peaks	7.18%	6.44%	+0.74%

Volatility

GLCR vs. USOY - Volatility Comparison

The current volatility for GlacierShares Nasdaq Iceland ETF (GLCR) is 8.06%, while Defiance Oil Enhanced Options Income ETF (USOY) has a volatility of 10.34%. This indicates that GLCR 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

	GLCR	USOY	Difference
Volatility (1M) Calculated over the trailing 1-month period	8.06%	10.34%	-2.28%
Volatility (6M) Calculated over the trailing 6-month period	13.41%	28.44%	-15.03%
Volatility (1Y) Calculated over the trailing 1-year period	16.77%	31.56%	-14.79%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.57%	26.51%	-7.94%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.57%	26.51%	-7.94%

GLCR vs. USOY - Expense Ratio Comparison

GLCR has a 0.95% expense ratio, which is lower than USOY's 1.22% expense ratio.

Dividends

GLCR vs. USOY - Dividend Comparison

GLCR's dividend yield for the trailing twelve months is around 1.11%, less than USOY's 68.29% yield.

Position	TTM	2025	2024
GLCR GlacierShares Nasdaq Iceland ETF	1.11%	0.97%	0.00%
USOY Defiance Oil Enhanced Options Income ETF	68.29%	104.32%	48.60%

Frequently Asked Questions

Can I hold both GLCR and USOY in my portfolio?

GLCR 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, GLCR or USOY?

USOY has higher volatility (10.34%) compared to GLCR (8.06%). In terms of maximum drawdown, GLCR dropped -18.74% vs USOY's -21.19%.

Which ETF is better, GLCR or USOY?

On 1-year performance, USOY leads with 26.28% vs -6.76% for GLCR. On fees, GLCR is cheaper at 0.95% per year. On volatility, GLCR has been the lower-risk option at 8.06%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, GLCR or USOY?

Over the 1-year period, USOY has performed better with a 26.28% return vs -6.76%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, GLCR or USOY?

GLCR is cheaper with a 0.95% expense ratio, compared with 1.22% for USOY.

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

USOY has the higher dividend yield at 68.29%, compared with 1.11% for GLCR.

What is the main difference between GLCR and USOY?

GLCR is categorized as Europe Equities, while USOY is Derivative Income. They also come from different issuers: Teucrium and Defiance. Their fees differ too: 0.95% for GLCR and 1.22% for USOY.

Which has better risk-adjusted returns?

USOY currently has the higher Sharpe Ratio (0.85 vs -0.41), 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.