IGME vs. USOY
IGME (Bitwise 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 -0.08, they often move in opposite directions. IGME charges 0.96%/yr vs 1.22%/yr for USOY.
Performance
IGME vs. USOY - Performance Comparison
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Returns By Period
In the year-to-date period, IGME achieves a 12.57% return, which is significantly lower than USOY's 56.61% return.
IGME
- 1D
- -1.86%
- 1M
- -10.54%
- YTD
- 12.57%
- 6M
- 1.24%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
USOY
- 1D
- -1.67%
- 1M
- 1.06%
- YTD
- 56.61%
- 6M
- 52.27%
- 1Y
- 51.90%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
IGME vs. USOY - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
IGME Bitwise GME Option Income Strategy ETF | 12.57% | -24.69% |
USOY Defiance Oil Enhanced Options Income ETF | 56.61% | -4.20% |
Correlation
The correlation between IGME and USOY is -0.08, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (All Time) Calculated using the full available price history since Jun 11, 2025 | -0.08 |
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Return for Risk
IGME vs. USOY — Risk / Return Rank
IGME
USOY
IGME vs. USOY - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Bitwise GME Option Income Strategy ETF (IGME) 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.
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Sharpe Ratios by Period
| IGME | 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 | -0.44 | 0.91 | -1.34 |
Drawdowns
IGME vs. USOY - Drawdown Comparison
The maximum IGME drawdown since its inception was -26.33%, which is greater than USOY's maximum drawdown of -17.46%. Use the drawdown chart below to compare losses from any high point for IGME and USOY.
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Drawdown Indicators
| IGME | USOY | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -26.33% | -17.46% | -8.87% |
Max Drawdown (1Y)Largest decline over 1 year | — | -14.29% | — |
Current DrawdownCurrent decline from peak | -15.22% | -8.37% | -6.85% |
Average DrawdownAverage peak-to-trough decline | -14.49% | -6.47% | -8.02% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | — | 7.45% | — |
Volatility
IGME vs. USOY - Volatility Comparison
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Volatility by Period
| IGME | 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 | 35.50% | 30.56% | +4.94% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 35.50% | 26.14% | +9.36% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 35.50% | 26.14% | +9.36% |
IGME vs. USOY - Expense Ratio Comparison
IGME has a 0.96% expense ratio, which is lower than USOY's 1.22% expense ratio.
Dividends
IGME vs. USOY - Dividend Comparison
IGME's dividend yield for the trailing twelve months is around 88.20%, more than USOY's 57.61% yield.
| Position | TTM | 2025 | 2024 |
|---|---|---|---|
IGME Bitwise GME Option Income Strategy ETF | 88.20% | 69.25% | 0.00% |
USOY Defiance Oil Enhanced Options Income ETF | 57.61% | 104.32% | 48.60% |
Frequently Asked Questions
IGME and USOY have a correlation of -0.08, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, IGME is cheaper at 0.96% per year. The better choice depends on whether you care most about return, fees, risk, or income.
IGME is cheaper with a 0.96% expense ratio, compared with 1.22% for USOY.
IGME has the higher dividend yield at 88.20%, compared with 57.61% for USOY.
They also come from different issuers: Bitwise and Defiance. Their fees differ too: 0.96% for IGME and 1.22% for USOY.
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