MJ vs. USOY

Last updated Jun 3, 2026

MJ (ETFMG Alternative Harvest ETF) and USOY (Defiance Oil Enhanced Options Income ETF) are both exchange-traded funds - MJ is a Small Cap Blend Equities fund tracking the Prime Alternative Harvest Index, while USOY is a Derivative Income fund actively managed by Defiance. MJ is passively managed, while USOY is actively managed. Over the past year, MJ returned 45.84% vs 55.52% for USOY. At a correlation of -0.01, they often move in opposite directions. MJ charges 0.75%/yr vs 1.22%/yr for USOY.

Performance

MJ vs. USOY - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ETFMG Alternative Harvest ETF (MJ) 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, MJ achieves a -11.18% return, which is significantly lower than USOY's 59.86% return.

MJ

• 1D: -1.49%
• 1M: -3.54%
• YTD: -11.18%
• 6M: 4.84%
• 1Y: 45.84%
• 3Y*: -6.84%
• 5Y*: -35.08%
• 10Y*: —

USOY

• 1D: 1.63%
• 1M: -1.93%
• YTD: 59.86%
• 6M: 58.33%
• 1Y: 55.52%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

MJ vs. USOY - Yearly Performance Comparison

	2026 (YTD)	2025	2024
MJ ETFMG Alternative Harvest ETF	-11.18%	13.07%	-41.12%
USOY Defiance Oil Enhanced Options Income ETF	59.86%	-7.93%	7.27%

Correlation

The correlation between MJ and USOY is -0.12, 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	-0.12
Correlation (All Time) Calculated using the full available price history since May 13, 2024	-0.01

The correlation between MJ and USOY shifts across timeframes, from -0.12 (1 year) to -0.01 (all time), reflecting how their relationship changes across market environments.

Return for Risk

MJ vs. USOY — Risk / Return Rank

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

MJ

MJ Risk / Return Rank: 22
MJ Sharpe Ratio Rank: 17
MJ Sortino Ratio Rank: 29
MJ Omega Ratio Rank: 27
MJ Calmar Ratio Rank: 20
MJ Martin Ratio Rank: 16

USOY

USOY Risk / Return Rank: 56
USOY Sharpe Ratio Rank: 53
USOY Sortino Ratio Rank: 45
USOY Omega Ratio Rank: 54
USOY Calmar Ratio Rank: 79
USOY Martin Ratio Rank: 47

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.

MJ vs. USOY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ETFMG Alternative Harvest ETF (MJ) 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.

	MJ	USOY	Difference
Sharpe ratio Return per unit of total volatility	0.53	1.83	-1.30
Sortino ratio Return per unit of downside risk	1.59	2.25	-0.66
Omega ratio Gain probability vs. loss probability	1.18	1.34	-0.16
Calmar ratio Return relative to maximum drawdown	0.89	4.10	-3.21
Martin ratio Return relative to average drawdown	1.61	7.91	-6.30
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

MJ vs. USOY - Sharpe Ratio Comparison

The current MJ Sharpe Ratio is 0.53, which is lower than the USOY Sharpe Ratio of 1.83. The chart below compares the historical Sharpe Ratios of MJ 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

	MJ	USOY	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.53	1.83	-1.30
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.59	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	-0.48	0.96	-1.44

Drawdowns

MJ vs. USOY - Drawdown Comparison

The maximum MJ drawdown since its inception was -96.55%, which is greater than USOY's maximum drawdown of -17.46%. Use the drawdown chart below to compare losses from any high point for MJ and USOY.

Drawdown Indicators

	MJ	USOY	Difference
Max Drawdown Largest peak-to-trough decline	-96.55%	-17.46%	-79.09%
Max Drawdown (1Y) Largest decline over 1 year	-48.66%	-14.29%	-34.37%
Max Drawdown (3Y) Largest decline over 3 years	-69.73%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-93.27%	—	—
Current Drawdown Current decline from peak	-94.27%	-6.47%	-87.80%
Average Drawdown Average peak-to-trough decline	-69.19%	-6.47%	-62.72%
Ulcer Index Depth and duration of drawdowns from previous peaks	26.97%	7.42%	+19.55%

Volatility

MJ vs. USOY - Volatility Comparison

ETFMG Alternative Harvest ETF (MJ) and Defiance Oil Enhanced Options Income ETF (USOY) have volatilities of 11.59% and 11.94%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	MJ	USOY	Difference
Volatility (1M) Calculated over the trailing 1-month period	11.59%	11.94%	-0.35%
Volatility (6M) Calculated over the trailing 6-month period	59.67%	27.16%	+32.51%
Volatility (1Y) Calculated over the trailing 1-year period	86.65%	30.46%	+56.19%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	59.87%	26.14%	+33.73%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	55.74%	26.14%	+29.60%

MJ vs. USOY - Expense Ratio Comparison

MJ has a 0.75% expense ratio, which is lower than USOY's 1.22% expense ratio.

Dividends

MJ vs. USOY - Dividend Comparison

MJ's dividend yield for the trailing twelve months is around 2.23%, less than USOY's 54.95% yield.

Position	TTM	2025	2024
MJ ETFMG Alternative Harvest ETF	2.23%	1.98%	13.80%
USOY Defiance Oil Enhanced Options Income ETF	54.95%	104.32%	48.60%

Frequently Asked Questions

Can I hold both MJ and USOY in my portfolio?

MJ and USOY have a correlation of -0.12, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, MJ or USOY?

USOY has higher volatility (11.94%) compared to MJ (11.59%). In terms of maximum drawdown, MJ dropped -96.55% vs USOY's -17.46%.

Which ETF is better, MJ or USOY?

On 1-year performance, USOY leads with 55.52% vs 45.84% for MJ. On fees, MJ is cheaper at 0.75% per year. On volatility, MJ has been the lower-risk option at 11.59%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, MJ or USOY?

Over the 1-year period, USOY has performed better with a 55.52% return vs 45.84%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, MJ or USOY?

MJ is cheaper with a 0.75% expense ratio, compared with 1.22% for USOY.

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

USOY has the higher dividend yield at 54.95%, compared with 2.23% for MJ.

What is the main difference between MJ and USOY?

MJ is categorized as Small Cap Blend Equities, while USOY is Derivative Income. They also come from different issuers: ETFMG and Defiance. Their fees differ too: 0.75% for MJ and 1.22% for USOY.

Which has better risk-adjusted returns?

USOY currently has the higher Sharpe Ratio (1.83 vs 0.53), 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.