GPT vs. USOY

Last updated Jun 4, 2026

GPT (Intelligent Alpha Atlas ETF) and USOY (Defiance Oil Enhanced Options Income ETF) are both exchange-traded funds - GPT is a Global Equities fund actively managed by Intelligent Alpha, while USOY is a Derivative Income fund actively managed by Defiance. Both are actively managed. Over the past year, GPT returned 31.43% vs 57.29% for USOY. At a correlation of -0.02, they often move in opposite directions. GPT charges 0.69%/yr vs 1.22%/yr for USOY.

Performance

GPT vs. USOY - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Intelligent Alpha Atlas ETF (GPT) 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, GPT achieves a 12.68% return, which is significantly lower than USOY's 62.18% return.

GPT

• 1D: -0.31%
• 1M: 2.33%
• YTD: 12.68%
• 6M: 11.45%
• 1Y: 31.43%
• 3Y*: —
• 5Y*: —
• 10Y*: —

USOY

• 1D: 1.45%
• 1M: -3.43%
• YTD: 62.18%
• 6M: 59.35%
• 1Y: 57.29%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

GPT vs. USOY - Yearly Performance Comparison

	2026 (YTD)	2025	2024
GPT Intelligent Alpha Atlas ETF	12.68%	24.85%	-3.42%
USOY Defiance Oil Enhanced Options Income ETF	62.18%	-7.93%	13.28%

Correlation

The correlation between GPT and USOY is -0.22, 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	-0.22
Correlation (All Time) Calculated using the full available price history since Sep 19, 2024	-0.02

Over the past year, the inverse relationship between GPT and USOY has strengthened: their correlation has moved from -0.02 to -0.22, meaning they now move in opposite directions more often than their long-term average.

Return for Risk

GPT vs. USOY — Risk / Return Rank

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

GPT

GPT Risk / Return Rank: 60
GPT Sharpe Ratio Rank: 53
GPT Sortino Ratio Rank: 52
GPT Omega Ratio Rank: 53
GPT Calmar Ratio Rank: 71
GPT Martin Ratio Rank: 73

USOY

USOY Risk / Return Rank: 56
USOY Sharpe Ratio Rank: 55
USOY Sortino Ratio Rank: 46
USOY Omega Ratio Rank: 55
USOY Calmar Ratio Rank: 78
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.

GPT vs. USOY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Intelligent Alpha Atlas ETF (GPT) 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.

	GPT	USOY	Difference
Sharpe ratio: Return per unit of total volatility	1.79	1.89	-0.10
Sortino ratio: Return per unit of downside risk	2.50	2.30	+0.20
Omega ratio: Gain probability vs. loss probability	1.32	1.35	-0.03
Calmar ratio: Return relative to maximum drawdown	3.52	4.03	-0.51
Martin ratio: Return relative to average drawdown	13.47	7.74	+5.73
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

GPT vs. USOY - Sharpe Ratio Comparison

The current GPT Sharpe Ratio is 1.79, which is comparable to the USOY Sharpe Ratio of 1.89. The chart below compares the historical Sharpe Ratios of GPT 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.

Sharpe Ratios by Period

	GPT	USOY	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.79	1.89	-0.10
Sharpe Ratio (All Time) Calculated using the full available price history	0.96	0.99	-0.03

Drawdowns

GPT vs. USOY - Drawdown Comparison

The maximum GPT drawdown since its inception was -25.59%, which is greater than USOY's maximum drawdown of -17.46%. Use the drawdown chart below to compare losses from any high point for GPT and USOY.

Drawdown Indicators

	GPT	USOY	Difference
Max Drawdown Largest peak-to-trough decline	-25.59%	-17.46%	-8.13%
Max Drawdown (1Y) Largest decline over 1 year	-8.97%	-14.29%	+5.32%
Current Drawdown Current decline from peak	-0.76%	-5.11%	+4.35%
Average Drawdown Average peak-to-trough decline	-4.26%	-6.47%	+2.21%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.34%	7.42%	-5.08%

Volatility

GPT vs. USOY - Volatility Comparison

The current volatility for Intelligent Alpha Atlas ETF (GPT) is 4.79%, while Defiance Oil Enhanced Options Income ETF (USOY) has a volatility of 11.62%. This indicates that GPT 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

	GPT	USOY	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.79%	11.62%	-6.83%
Volatility (6M) Calculated over the trailing 6-month period	14.45%	27.18%	-12.73%
Volatility (1Y) Calculated over the trailing 1-year period	17.61%	30.44%	-12.83%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	20.69%	26.13%	-5.44%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	20.69%	26.13%	-5.44%

GPT vs. USOY - Expense Ratio Comparison

GPT has a 0.69% expense ratio, which is lower than USOY's 1.22% expense ratio.

Dividends

GPT vs. USOY - Dividend Comparison

GPT's dividend yield for the trailing twelve months is around 0.67%, less than USOY's 54.16% yield.

Position	TTM	2025	2024
GPT Intelligent Alpha Atlas ETF	0.67%	0.75%	0.19%
USOY Defiance Oil Enhanced Options Income ETF	54.16%	104.32%	48.60%

Frequently Asked Questions

Can I hold both GPT and USOY in my portfolio?

GPT and USOY have a correlation of -0.22, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, GPT or USOY?

USOY has higher volatility (11.62%) compared to GPT (4.79%). In terms of maximum drawdown, GPT dropped -25.59% vs USOY's -17.46%.

Which ETF is better, GPT or USOY?

On 1-year performance, USOY leads with 57.29% vs 31.43% for GPT. On fees, GPT is cheaper at 0.69% per year. On volatility, GPT has been the lower-risk option at 4.79%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, GPT or USOY?

Over the 1-year period, USOY has performed better with a 57.29% return vs 31.43%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, GPT or USOY?

GPT is cheaper with a 0.69% expense ratio, compared with 1.22% for USOY.

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

USOY has the higher dividend yield at 54.16%, compared with 0.67% for GPT.

What is the main difference between GPT and USOY?

GPT is categorized as Global Equities, while USOY is Derivative Income. They also come from different issuers: Intelligent Alpha and Defiance. Their fees differ too: 0.69% for GPT and 1.22% for USOY.

Which has better risk-adjusted returns?

USOY currently has the higher Sharpe Ratio (1.89 vs 1.79), 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.