HOOZ vs. USOY

Last updated Jun 6, 2026

HOOZ (Defiance Daily Target 2X Short HOOD ETF) and USOY (Defiance Oil Enhanced Options Income ETF) are both exchange-traded funds - HOOZ is a Inverse Equities fund tracking the Robinhood Markets, Inc., while USOY is a Derivative Income fund actively managed by Defiance. HOOZ is passively managed, while USOY is actively managed. At a 0.22 correlation, their price movements are largely independent. HOOZ charges 1.31%/yr vs 1.22%/yr for USOY.

Performance

HOOZ vs. USOY - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Defiance Daily Target 2X Short HOOD ETF (HOOZ) 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, HOOZ achieves a -11.18% return, which is significantly lower than USOY's 56.61% return.

HOOZ

• 1D: 13.13%
• 1M: -22.74%
• YTD: -11.18%
• 6M: 15.12%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

USOY

• 1D: -1.67%
• 1M: 0.03%
• YTD: 56.61%
• 6M: 52.27%
• 1Y: 50.96%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

HOOZ vs. USOY - Yearly Performance Comparison

	2026 (YTD)	2025
HOOZ Defiance Daily Target 2X Short HOOD ETF	-11.18%	-2.76%
USOY Defiance Oil Enhanced Options Income ETF	56.61%	0.43%

Correlation

The correlation between HOOZ and USOY is 0.22, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (All Time) Calculated using the full available price history since Nov 14, 2025	0.22

Return for Risk

HOOZ 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.

HOOZ vs. USOY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Defiance Daily Target 2X Short HOOD ETF (HOOZ) 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

	HOOZ	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	-0.16	0.91	-1.07

Drawdowns

HOOZ vs. USOY - Drawdown Comparison

The maximum HOOZ drawdown since its inception was -66.52%, which is greater than USOY's maximum drawdown of -17.46%. Use the drawdown chart below to compare losses from any high point for HOOZ and USOY.

Drawdown Indicators

	HOOZ	USOY	Difference
Max Drawdown Largest peak-to-trough decline	-66.52%	-17.46%	-49.06%
Max Drawdown (1Y) Largest decline over 1 year	—	-14.29%	—
Current Drawdown Current decline from peak	-58.26%	-8.37%	-49.89%
Average Drawdown Average peak-to-trough decline	-29.37%	-6.47%	-22.90%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	7.45%	—

Volatility

Volatility by Period

	HOOZ	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	146.04%	30.56%	+115.48%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	146.04%	26.14%	+119.90%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	146.04%	26.14%	+119.90%

HOOZ vs. USOY - Expense Ratio Comparison

HOOZ has a 1.31% expense ratio, which is higher than USOY's 1.22% expense ratio.

Dividends

HOOZ vs. USOY - Dividend Comparison

HOOZ has not paid dividends to shareholders, while USOY's dividend yield for the trailing twelve months is around 57.61%.

Position	TTM	2025	2024
HOOZ Defiance Daily Target 2X Short HOOD ETF	0.00%	0.00%	0.00%
USOY Defiance Oil Enhanced Options Income ETF	57.61%	104.32%	48.60%

Frequently Asked Questions

Can I hold both HOOZ and USOY in my portfolio?

HOOZ 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 ETF is better, HOOZ or USOY?

On fees, USOY is cheaper at 1.22% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, HOOZ or USOY?

USOY is cheaper with a 1.22% expense ratio, compared with 1.31% for HOOZ.

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

USOY has the higher dividend yield at 57.61%, compared with 0.00% for HOOZ.

What is the main difference between HOOZ and USOY?

HOOZ is categorized as Inverse Equities, while USOY is Derivative Income. Their fees differ too: 1.31% for HOOZ and 1.22% for USOY.