MSTK vs. USOY

Last updated Jun 25, 2026

MSTK (Tuttle Capital MSTR 0DTE Covered Call ETF) and USOY (Defiance Oil Enhanced Options Income ETF) are both Derivative Income funds. Both are actively managed. At a 0.02 correlation, their price movements are largely independent. MSTK charges 0.99%/yr vs 1.22%/yr for USOY.

Performance

MSTK vs. USOY - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Tuttle Capital MSTR 0DTE Covered Call ETF (MSTK) and Defiance Oil Enhanced Options Income ETF (USOY). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

MSTK

• 1D: —
• 1M: —
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

USOY

• 1D: -4.06%
• 1M: -20.39%
• YTD: 29.22%
• 6M: 28.28%
• 1Y: 26.82%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

MSTK vs. USOY - Yearly Performance Comparison

	2026 (YTD)	2025
MSTK Tuttle Capital MSTR 0DTE Covered Call ETF	-20.94%	-47.46%
USOY Defiance Oil Enhanced Options Income ETF	29.22%	0.92%

Correlation

The correlation between MSTK and USOY is 0.02, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (All Time) Calculated using the full available price history since Oct 23, 2025	0.02

Return for Risk

MSTK vs. USOY — Risk / Return Rank

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

MSTK

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

USOY

USOY Risk / Return Rank: 27
USOY Sharpe Ratio Rank: 26
USOY Sortino Ratio Rank: 25
USOY Omega Ratio Rank: 27
USOY Calmar Ratio Rank: 25
USOY Martin Ratio Rank: 31

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.

MSTK vs. USOY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Tuttle Capital MSTR 0DTE Covered Call ETF (MSTK) 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.

	MSTK	USOY	Difference
Sharpe ratio: Return per unit of total volatility	—	0.87	—
Sortino ratio: Return per unit of downside risk	—	1.26	—
Omega ratio: Gain probability vs. loss probability	—	1.18	—
Calmar ratio: Return relative to maximum drawdown	—	1.10	—
Martin ratio: Return relative to average drawdown	—	4.07	—

Drawdowns

Drawdown Indicators

	MSTK	USOY	Difference
Max Drawdown Largest peak-to-trough decline	—	-24.40%	—
Max Drawdown (1Y) Largest decline over 1 year	—	-24.40%	—
Current Drawdown Current decline from peak	—	-24.40%	—
Average Drawdown Average peak-to-trough decline	—	-6.67%	—
Ulcer Index Depth and duration of drawdowns from previous peaks	—	6.60%	—

Volatility

Volatility by Period

	MSTK	USOY	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	10.82%	—
Volatility (6M) Calculated over the trailing 6-month period	—	28.77%	—
Volatility (1Y) Calculated over the trailing 1-year period	—	31.42%	—
Volatility (5Y) Calculated over the trailing 5-year period, annualized	—	26.64%	—
Volatility (10Y) Calculated over the trailing 10-year period, annualized	—	26.64%	—

MSTK vs. USOY - Expense Ratio Comparison

MSTK has a 0.99% expense ratio, which is lower than USOY's 1.22% expense ratio.

Dividends

MSTK vs. USOY - Dividend Comparison

MSTK's dividend yield for the trailing twelve months is around 49.03%, less than USOY's 71.18% yield.

Position	TTM	2025	2024
MSTK Tuttle Capital MSTR 0DTE Covered Call ETF	49.03%	26.75%	0.00%
USOY Defiance Oil Enhanced Options Income ETF	71.18%	104.32%	48.60%

Frequently Asked Questions

Can I hold both MSTK and USOY in my portfolio?

MSTK and USOY have a correlation of 0.02, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, MSTK or USOY?

On fees, MSTK is cheaper at 0.99% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, MSTK or USOY?

MSTK is cheaper with a 0.99% expense ratio, compared with 1.22% for USOY.

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

USOY has the higher dividend yield at 71.18%, compared with 49.03% for MSTK.

What is the main difference between MSTK and USOY?

They also come from different issuers: Tuttle Capital Management and Defiance. Their fees differ too: 0.99% for MSTK and 1.22% for USOY.