JANZ vs. USOY
JANZ (TrueShares Structured Outcome (January) ETF) and USOY (Defiance Oil Enhanced Options Income ETF) are both exchange-traded funds - JANZ is a Defined Outcome fund actively managed by TrueShares, while USOY is a Derivative Income fund actively managed by Defiance. Both are actively managed. Over the past year, JANZ returned 20.42% vs 57.29% for USOY. At a correlation of -0.07, they often move in opposite directions. JANZ charges 0.79%/yr vs 1.22%/yr for USOY.
Performance
JANZ vs. USOY - Performance Comparison
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Returns By Period
In the year-to-date period, JANZ achieves a 8.24% return, which is significantly lower than USOY's 62.18% return.
JANZ
- 1D
- -0.55%
- 1M
- 4.16%
- YTD
- 8.24%
- 6M
- 7.97%
- 1Y
- 20.42%
- 3Y*
- 16.17%
- 5Y*
- 10.70%
- 10Y*
- —
USOY
- 1D
- 1.45%
- 1M
- -3.43%
- YTD
- 62.18%
- 6M
- 59.35%
- 1Y
- 57.29%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
JANZ vs. USOY - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
JANZ TrueShares Structured Outcome (January) ETF | 8.24% | 12.47% | 10.26% |
USOY Defiance Oil Enhanced Options Income ETF | 62.18% | -7.93% | 7.27% |
Correlation
The correlation between JANZ and USOY is -0.27, 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 | -0.27 |
Correlation (All Time) Calculated using the full available price history since May 13, 2024 | -0.07 |
The correlation between JANZ and USOY shifts across timeframes, from -0.27 (1 year) to -0.07 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
JANZ vs. USOY — Risk / Return Rank
JANZ
USOY
JANZ vs. USOY - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for TrueShares Structured Outcome (January) ETF (JANZ) 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.
| JANZ | USOY | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.29 | ||
| Sortino ratioReturn per unit of downside risk | +0.75 | ||
| Omega ratioGain probability vs. loss probability | 1.39 | 1.35 | +0.04 |
| Calmar ratioReturn relative to maximum drawdown | 3.00 | 4.03 | -1.03 |
| Martin ratioReturn relative to average drawdown | 13.29 | 7.74 | +5.55 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| JANZ | USOY | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.18 | 1.89 | +0.29 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.82 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.93 | 0.99 | -0.06 |
Drawdowns
JANZ vs. USOY - Drawdown Comparison
The maximum JANZ drawdown since its inception was -18.11%, roughly equal to the maximum USOY drawdown of -17.46%. Use the drawdown chart below to compare losses from any high point for JANZ and USOY.
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Drawdown Indicators
| JANZ | USOY | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -18.11% | -17.46% | -0.65% |
Max Drawdown (1Y)Largest decline over 1 year | -6.83% | -14.29% | +7.46% |
Max Drawdown (3Y)Largest decline over 3 years | -14.33% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -18.11% | — | — |
Current DrawdownCurrent decline from peak | -0.55% | -5.11% | +4.56% |
Average DrawdownAverage peak-to-trough decline | -3.49% | -6.47% | +2.98% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.54% | 7.42% | -5.88% |
Volatility
JANZ vs. USOY - Volatility Comparison
The current volatility for TrueShares Structured Outcome (January) ETF (JANZ) is 2.44%, while Defiance Oil Enhanced Options Income ETF (USOY) has a volatility of 11.62%. This indicates that JANZ 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.
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Volatility by Period
| JANZ | USOY | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.44% | 11.62% | -9.18% |
Volatility (6M)Calculated over the trailing 6-month period | 7.10% | 27.18% | -20.08% |
Volatility (1Y)Calculated over the trailing 1-year period | 9.42% | 30.44% | -21.02% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 13.14% | 26.13% | -12.99% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 12.97% | 26.13% | -13.16% |
JANZ vs. USOY - Expense Ratio Comparison
JANZ has a 0.79% expense ratio, which is lower than USOY's 1.22% expense ratio.
Dividends
JANZ vs. USOY - Dividend Comparison
JANZ's dividend yield for the trailing twelve months is around 1.31%, less than USOY's 54.16% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|---|
JANZ TrueShares Structured Outcome (January) ETF | 1.31% | 1.42% | 2.70% | 2.58% | 0.21% | 4.52% |
USOY Defiance Oil Enhanced Options Income ETF | 54.16% | 104.32% | 48.60% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
JANZ and USOY have a correlation of -0.27, 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 JANZ (2.44%). In terms of maximum drawdown, JANZ dropped -18.11% vs USOY's -17.46%.
On 1-year performance, USOY leads with 57.29% vs 20.42% for JANZ. On fees, JANZ is cheaper at 0.79% per year. On volatility, JANZ has been the lower-risk option at 2.44%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, USOY has performed better with a 57.29% return vs 20.42%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
JANZ is cheaper with a 0.79% expense ratio, compared with 1.22% for USOY.
USOY has the higher dividend yield at 54.16%, compared with 1.31% for JANZ.
JANZ is categorized as Defined Outcome, while USOY is Derivative Income. They also come from different issuers: TrueShares and Defiance. Their fees differ too: 0.79% for JANZ and 1.22% for USOY.
JANZ currently has the higher Sharpe Ratio (2.18 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.
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