GMEY vs. USOY

Last updated Jun 6, 2026

GMEY (YieldMax GME Option Income Strategy ETF) and USOY (Defiance Oil Enhanced Options Income ETF) are both Derivative Income funds. Both are actively managed. At a correlation of -0.11, they often move in opposite directions. GMEY charges 0.99%/yr vs 1.22%/yr for USOY.

Performance

GMEY vs. USOY - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in YieldMax GME Option Income Strategy ETF (GMEY) 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, GMEY achieves a 1.59% return, which is significantly lower than USOY's 56.61% return.

GMEY

• 1D: -1.50%
• 1M: -11.34%
• YTD: 1.59%
• 6M: -9.88%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

USOY

• 1D: -1.67%
• 1M: 1.06%
• YTD: 56.61%
• 6M: 52.27%
• 1Y: 51.90%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

GMEY vs. USOY - Yearly Performance Comparison

	2026 (YTD)	2025
GMEY YieldMax GME Option Income Strategy ETF	1.59%	-16.17%
USOY Defiance Oil Enhanced Options Income ETF	56.61%	-4.94%

Correlation

The correlation between GMEY and USOY is -0.11, 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 Sep 10, 2025	-0.11

Return for Risk

GMEY 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: 53
USOY Sharpe Ratio Rank: 51
USOY Sortino Ratio Rank: 44
USOY Omega Ratio Rank: 53
USOY Calmar Ratio Rank: 75
USOY Martin Ratio Rank: 44

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.

GMEY vs. USOY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for YieldMax GME Option Income Strategy ETF (GMEY) 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

	GMEY	USOY	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	1.71	—
Sharpe Ratio (All Time) Calculated using the full available price history	-0.67	0.91	-1.58

Drawdowns

GMEY vs. USOY - Drawdown Comparison

The maximum GMEY drawdown since its inception was -25.67%, which is greater than USOY's maximum drawdown of -17.46%. Use the drawdown chart below to compare losses from any high point for GMEY and USOY.

Drawdown Indicators

	GMEY	USOY	Difference
Max Drawdown Largest peak-to-trough decline	-25.67%	-17.46%	-8.21%
Max Drawdown (1Y) Largest decline over 1 year	—	-14.29%	—
Current Drawdown Current decline from peak	-23.34%	-8.37%	-14.97%
Average Drawdown Average peak-to-trough decline	-16.60%	-6.47%	-10.13%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	7.45%	—

Volatility

Volatility by Period

	GMEY	USOY	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	9.70%	—
Volatility (6M) Calculated over the trailing 6-month period	—	27.33%	—
Volatility (1Y) Calculated over the trailing 1-year period	29.07%	30.56%	-1.49%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	29.07%	26.14%	+2.93%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	29.07%	26.14%	+2.93%

GMEY vs. USOY - Expense Ratio Comparison

GMEY has a 0.99% expense ratio, which is lower than USOY's 1.22% expense ratio.

Dividends

GMEY vs. USOY - Dividend Comparison

GMEY's dividend yield for the trailing twelve months is around 52.28%, less than USOY's 57.61% yield.

Position	TTM	2025	2024
GMEY YieldMax GME Option Income Strategy ETF	52.28%	21.84%	0.00%
USOY Defiance Oil Enhanced Options Income ETF	57.61%	104.32%	48.60%

Frequently Asked Questions

Can I hold both GMEY and USOY in my portfolio?

GMEY and USOY have a correlation of -0.11, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, GMEY or USOY?

On fees, GMEY is cheaper at 0.99% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, GMEY or USOY?

GMEY is cheaper with a 0.99% expense ratio, compared with 1.22% for USOY.

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

USOY has the higher dividend yield at 57.61%, compared with 52.28% for GMEY.

What is the main difference between GMEY and USOY?

They also come from different issuers: YieldMax and Defiance. Their fees differ too: 0.99% for GMEY and 1.22% for USOY.