MPL vs. USOY

Last updated Jun 27, 2026

MPL (Defiance Daily Target 2X Long MP ETF) and USOY (Defiance Oil Enhanced Options Income ETF) are both exchange-traded funds - MPL is a Leveraged Equities fund actively managed by Defiance, while USOY is a Derivative Income fund actively managed by Defiance. Both are actively managed. At a 0.23 correlation, their price movements are largely independent. MPL charges 1.31%/yr vs 1.22%/yr for USOY.

Performance

MPL vs. USOY - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Defiance Daily Target 2X Long MP ETF (MPL) and Defiance Oil Enhanced Options Income ETF (USOY). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

MPL

• 1D: -7.21%
• 1M: -36.07%
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

USOY

• 1D: -2.45%
• 1M: -15.42%
• YTD: 29.48%
• 6M: 31.13%
• 1Y: 26.02%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

MPL vs. USOY - Yearly Performance Comparison

	2026 (YTD)
MPL Defiance Daily Target 2X Long MP ETF	-36.50%
USOY Defiance Oil Enhanced Options Income ETF	-20.22%

Correlation

The correlation between MPL and USOY is 0.23, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (All Time) Calculated using the full available price history since May 26, 2026	0.23

Return for Risk

MPL vs. USOY — Risk / Return Rank

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

MPL

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

USOY

USOY Risk / Return Rank: 25
USOY Sharpe Ratio Rank: 24
USOY Sortino Ratio Rank: 23
USOY Omega Ratio Rank: 25
USOY Calmar Ratio Rank: 24
USOY Martin Ratio Rank: 28

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.

MPL vs. USOY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Defiance Daily Target 2X Long MP ETF (MPL) 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.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

	MPL	USOY	Difference
Sharpe ratio: Return per unit of total volatility	—	0.84	—
Sortino ratio: Return per unit of downside risk	—	1.23	—
Omega ratio: Gain probability vs. loss probability	—	1.17	—
Calmar ratio: Return relative to maximum drawdown	—	1.07	—
Martin ratio: Return relative to average drawdown	—	3.77	—

Drawdowns

MPL vs. USOY - Drawdown Comparison

The maximum MPL drawdown since its inception was -47.44%, which is greater than USOY's maximum drawdown of -24.40%. Use the drawdown chart below to compare losses from any high point for MPL and USOY.

Drawdown Indicators

	MPL	USOY	Difference
Max Drawdown Largest peak-to-trough decline	-47.44%	-24.40%	-23.04%
Max Drawdown (1Y) Largest decline over 1 year	—	-24.40%	—
Current Drawdown Current decline from peak	-47.44%	-24.24%	-23.20%
Average Drawdown Average peak-to-trough decline	-27.24%	-6.73%	-20.51%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	6.92%	—

Volatility

Volatility by Period

	MPL	USOY	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	11.08%	—
Volatility (6M) Calculated over the trailing 6-month period	—	28.97%	—
Volatility (1Y) Calculated over the trailing 1-year period	140.24%	31.28%	+108.96%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	140.24%	26.71%	+113.53%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	140.24%	26.71%	+113.53%

MPL vs. USOY - Expense Ratio Comparison

MPL has a 1.31% expense ratio, which is higher than USOY's 1.22% expense ratio.

Dividends

MPL vs. USOY - Dividend Comparison

MPL has not paid dividends to shareholders, while USOY's dividend yield for the trailing twelve months is around 69.64%.

Position	TTM	2025	2024
MPL Defiance Daily Target 2X Long MP ETF	0.00%	0.00%	0.00%
USOY Defiance Oil Enhanced Options Income ETF	69.64%	104.32%	48.60%

Frequently Asked Questions

Can I hold both MPL and USOY in my portfolio?

MPL and USOY have a correlation of 0.23, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, MPL or USOY?

On fees, USOY is cheaper at 1.22% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, MPL or USOY?

USOY is cheaper with a 1.22% expense ratio, compared with 1.31% for MPL.

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

USOY has the higher dividend yield at 69.64%, compared with 0.00% for MPL.

What is the main difference between MPL and USOY?

MPL is categorized as Leveraged Equities, while USOY is Derivative Income. Their fees differ too: 1.31% for MPL and 1.22% for USOY.