IYW vs. USOY
IYW (iShares U.S. Technology ETF) and USOY (Defiance Oil Enhanced Options Income ETF) are both exchange-traded funds - IYW is a Technology Equities fund tracking the Russell 1000 Technology RIC 22.5/45 Capped Index, while USOY is a Derivative Income fund actively managed by Defiance. IYW is passively managed, while USOY is actively managed. Over the past year, IYW returned 59.52% vs 57.29% for USOY. At a correlation of -0.04, they often move in opposite directions. IYW charges 0.38%/yr vs 1.22%/yr for USOY.
Performance
IYW vs. USOY - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, IYW achieves a 29.03% return, which is significantly lower than USOY's 62.18% return.
IYW
- 1D
- -0.92%
- 1M
- 16.53%
- YTD
- 29.03%
- 6M
- 28.22%
- 1Y
- 59.52%
- 3Y*
- 35.24%
- 5Y*
- 22.87%
- 10Y*
- 26.11%
USOY
- 1D
- 1.45%
- 1M
- -3.43%
- YTD
- 62.18%
- 6M
- 59.35%
- 1Y
- 57.29%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
IYW vs. USOY - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
IYW iShares U.S. Technology ETF | 29.03% | 25.38% | 19.27% |
USOY Defiance Oil Enhanced Options Income ETF | 62.18% | -7.93% | 7.27% |
Correlation
The correlation between IYW and USOY is -0.24, 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 | -0.24 |
Correlation (All Time) Calculated using the full available price history since May 13, 2024 | -0.04 |
Over the past year, the inverse relationship between IYW and USOY has strengthened: their correlation has moved from -0.04 to -0.24, meaning they now move in opposite directions more often than their long-term average.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
IYW vs. USOY — Risk / Return Rank
IYW
USOY
IYW vs. USOY - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares U.S. Technology ETF (IYW) 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.
| IYW | USOY | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.09 | ||
| Sortino ratioReturn per unit of downside risk | +1.40 | ||
| Omega ratioGain probability vs. loss probability | 1.48 | 1.35 | +0.14 |
| Calmar ratioReturn relative to maximum drawdown | 3.36 | 4.03 | -0.67 |
| Martin ratioReturn relative to average drawdown | 11.00 | 7.74 | +3.26 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
Loading charts...
Sharpe Ratios by Period
| IYW | USOY | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.98 | 1.89 | +1.09 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.89 | — | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 1.04 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.35 | 0.99 | -0.64 |
Drawdowns
IYW vs. USOY - Drawdown Comparison
The maximum IYW drawdown since its inception was -81.90%, which is greater than USOY's maximum drawdown of -17.46%. Use the drawdown chart below to compare losses from any high point for IYW and USOY.
Loading charts...
Drawdown Indicators
| IYW | USOY | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -81.90% | -17.46% | -64.44% |
Max Drawdown (1Y)Largest decline over 1 year | -17.81% | -14.29% | -3.52% |
Max Drawdown (3Y)Largest decline over 3 years | -26.47% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -39.44% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -39.44% | — | — |
Current DrawdownCurrent decline from peak | -0.92% | -5.11% | +4.19% |
Average DrawdownAverage peak-to-trough decline | -34.66% | -6.47% | -28.19% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 5.43% | 7.42% | -1.99% |
Volatility
IYW vs. USOY - Volatility Comparison
The current volatility for iShares U.S. Technology ETF (IYW) is 6.30%, while Defiance Oil Enhanced Options Income ETF (USOY) has a volatility of 11.62%. This indicates that IYW 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.
Loading charts...
Volatility by Period
| IYW | USOY | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.30% | 11.62% | -5.32% |
Volatility (6M)Calculated over the trailing 6-month period | 15.85% | 27.18% | -11.33% |
Volatility (1Y)Calculated over the trailing 1-year period | 20.09% | 30.44% | -10.35% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 25.87% | 26.13% | -0.26% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 25.09% | 26.13% | -1.04% |
IYW vs. USOY - Expense Ratio Comparison
IYW has a 0.38% expense ratio, which is lower than USOY's 1.22% expense ratio.
Dividends
IYW vs. USOY - Dividend Comparison
IYW's dividend yield for the trailing twelve months is around 0.11%, less than USOY's 54.16% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
IYW iShares U.S. Technology ETF | 0.11% | 0.14% | 0.21% | 0.34% | 0.50% | 0.31% | 0.56% | 0.72% | 0.92% | 0.82% | 1.14% | 1.12% |
USOY Defiance Oil Enhanced Options Income ETF | 54.16% | 104.32% | 48.60% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
IYW and USOY have a correlation of -0.24, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
USOY has higher volatility (11.62%) compared to IYW (6.30%). In terms of maximum drawdown, IYW dropped -81.90% vs USOY's -17.46%.
On 1-year performance, IYW leads with 59.52% vs 57.29% for USOY. On fees, IYW is cheaper at 0.38% per year. On volatility, IYW has been the lower-risk option at 6.30%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, IYW has performed better with a 59.52% return vs 57.29%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
IYW is cheaper with a 0.38% expense ratio, compared with 1.22% for USOY.
USOY has the higher dividend yield at 54.16%, compared with 0.11% for IYW.
IYW is categorized as Technology Equities, while USOY is Derivative Income. They also come from different issuers: iShares and Defiance. Their fees differ too: 0.38% for IYW and 1.22% for USOY.
IYW currently has the higher Sharpe Ratio (2.98 vs 1.89), 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.
Find the right allocation for IYW and USOY
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer