LFAI vs. USOY

Last updated Jun 5, 2026

LFAI (LifeX 2050 Longevity Income ETF) and USOY (Defiance Oil Enhanced Options Income ETF) are both exchange-traded funds - LFAI is a Government Bonds fund actively managed by Stone Ridge, while USOY is a Derivative Income fund actively managed by Defiance. Both are actively managed. Over the past year, LFAI returned 3.32% vs 54.64% for USOY. At a correlation of -0.31, they often move in opposite directions. LFAI charges 0.25%/yr vs 1.22%/yr for USOY.

Performance

LFAI vs. USOY - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in LifeX 2050 Longevity Income ETF (LFAI) 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, LFAI achieves a -0.28% return, which is significantly lower than USOY's 59.27% return.

LFAI

• 1D: 0.15%
• 1M: 0.19%
• YTD: -0.28%
• 6M: -0.70%
• 1Y: 3.32%
• 3Y*: —
• 5Y*: —
• 10Y*: —

USOY

• 1D: -1.79%
• 1M: -3.80%
• YTD: 59.27%
• 6M: 55.41%
• 1Y: 54.64%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

LFAI vs. USOY - Yearly Performance Comparison

	2026 (YTD)	2025	2024
LFAI LifeX 2050 Longevity Income ETF	-0.28%	6.06%	-7.12%
USOY Defiance Oil Enhanced Options Income ETF	59.27%	-7.93%	13.88%

Correlation

The correlation between LFAI and USOY is -0.39, 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	-0.39
Correlation (All Time) Calculated using the full available price history since Sep 17, 2024	-0.31

Return for Risk

LFAI vs. USOY — Risk / Return Rank

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

LFAI

LFAI Risk / Return Rank: 17
LFAI Sharpe Ratio Rank: 18
LFAI Sortino Ratio Rank: 17
LFAI Omega Ratio Rank: 16
LFAI Calmar Ratio Rank: 17
LFAI Martin Ratio Rank: 18

USOY

USOY Risk / Return Rank: 55
USOY Sharpe Ratio Rank: 54
USOY Sortino Ratio Rank: 45
USOY Omega Ratio Rank: 55
USOY Calmar Ratio Rank: 77
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.

LFAI vs. USOY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for LifeX 2050 Longevity Income ETF (LFAI) 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.

	LFAI	USOY	Difference
Sharpe ratio: Return per unit of total volatility	0.54	1.80	-1.26
Sortino ratio: Return per unit of downside risk	0.81	2.21	-1.40
Omega ratio: Gain probability vs. loss probability	1.09	1.33	-0.24
Calmar ratio: Return relative to maximum drawdown	0.63	3.84	-3.21
Martin ratio: Return relative to average drawdown	1.77	7.37	-5.60
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

LFAI vs. USOY - Sharpe Ratio Comparison

The current LFAI Sharpe Ratio is 0.54, which is lower than the USOY Sharpe Ratio of 1.80. The chart below compares the historical Sharpe Ratios of LFAI 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

	LFAI	USOY	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.54	1.80	-1.26
Sharpe Ratio (All Time) Calculated using the full available price history	-0.14	0.95	-1.09

Drawdowns

LFAI vs. USOY - Drawdown Comparison

The maximum LFAI drawdown since its inception was -8.64%, smaller than the maximum USOY drawdown of -17.46%. Use the drawdown chart below to compare losses from any high point for LFAI and USOY.

Drawdown Indicators

	LFAI	USOY	Difference
Max Drawdown Largest peak-to-trough decline	-8.64%	-17.46%	+8.82%
Max Drawdown (1Y) Largest decline over 1 year	-5.30%	-14.29%	+8.99%
Current Drawdown Current decline from peak	-3.23%	-6.81%	+3.58%
Average Drawdown Average peak-to-trough decline	-3.52%	-6.47%	+2.95%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.88%	7.43%	-5.55%

Volatility

LFAI vs. USOY - Volatility Comparison

The current volatility for LifeX 2050 Longevity Income ETF (LFAI) is 2.01%, while Defiance Oil Enhanced Options Income ETF (USOY) has a volatility of 11.67%. This indicates that LFAI 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

	LFAI	USOY	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.01%	11.67%	-9.66%
Volatility (6M) Calculated over the trailing 6-month period	4.42%	27.26%	-22.84%
Volatility (1Y) Calculated over the trailing 1-year period	6.30%	30.50%	-24.20%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	7.15%	26.14%	-18.99%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	7.15%	26.14%	-18.99%

LFAI vs. USOY - Expense Ratio Comparison

LFAI has a 0.25% expense ratio, which is lower than USOY's 1.22% expense ratio.

Dividends

LFAI vs. USOY - Dividend Comparison

LFAI's dividend yield for the trailing twelve months is around 13.53%, less than USOY's 56.65% yield.

Position	TTM	2025	2024
LFAI LifeX 2050 Longevity Income ETF	13.53%	16.48%	1.91%
USOY Defiance Oil Enhanced Options Income ETF	56.65%	104.32%	48.60%

Frequently Asked Questions

Can I hold both LFAI and USOY in my portfolio?

LFAI and USOY have a correlation of -0.39, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, LFAI or USOY?

USOY has higher volatility (11.67%) compared to LFAI (2.01%). In terms of maximum drawdown, LFAI dropped -8.64% vs USOY's -17.46%.

Which ETF is better, LFAI or USOY?

On 1-year performance, USOY leads with 54.64% vs 3.32% for LFAI. On fees, LFAI is cheaper at 0.25% per year. On volatility, LFAI has been the lower-risk option at 2.01%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, LFAI or USOY?

Over the 1-year period, USOY has performed better with a 54.64% return vs 3.32%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, LFAI or USOY?

LFAI is cheaper with a 0.25% expense ratio, compared with 1.22% for USOY.

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

USOY has the higher dividend yield at 56.65%, compared with 13.53% for LFAI.

What is the main difference between LFAI and USOY?

LFAI is categorized as Government Bonds, while USOY is Derivative Income. They also come from different issuers: Stone Ridge and Defiance. Their fees differ too: 0.25% for LFAI and 1.22% for USOY.

Which has better risk-adjusted returns?

USOY currently has the higher Sharpe Ratio (1.80 vs 0.54), 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.