ODTE vs. USOY

Last updated Jul 3, 2026

ODTE (VegaShares SPX NDX RTY Premium Income ETF) and USOY (Defiance Oil Enhanced Options Income ETF) are both Derivative Income funds. Both are actively managed. At a correlation of -0.24, they often move in opposite directions. ODTE charges 0.76%/yr vs 1.22%/yr for USOY.

Performance

ODTE vs. USOY - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in VegaShares SPX NDX RTY Premium Income ETF (ODTE) and Defiance Oil Enhanced Options Income ETF (USOY). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

ODTE

• 1D: -0.88%
• 1M: -2.97%
• 6M: —
• YTD: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

USOY

• 1D: 0.64%
• 1M: -19.85%
• 6M: 28.13%
• YTD: 28.13%
• 1Y: 22.45%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

ODTE vs. USOY - Yearly Performance Comparison

	2026 (YTD)
ODTE VegaShares SPX NDX RTY Premium Income ETF	11.25%
USOY Defiance Oil Enhanced Options Income ETF	-19.68%

Correlation

The correlation between ODTE and USOY is -0.24, 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 (All Time) Calculated using the full available price history since Apr 2, 2026	-0.24

Return for Risk

ODTE vs. USOY — Risk / Return Rank

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

ODTE

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

USOY

USOY Risk / Return Rank: 23
USOY Sharpe Ratio Rank: 23
USOY Sortino Ratio Rank: 22
USOY Omega Ratio Rank: 24
USOY Calmar Ratio Rank: 22
USOY Martin Ratio Rank: 25

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.

ODTE vs. USOY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for VegaShares SPX NDX RTY Premium Income ETF (ODTE) 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.

	ODTE	USOY	Difference
Sharpe ratio: Return per unit of total volatility	—	0.72	—
Sortino ratio: Return per unit of downside risk	—	1.10	—
Omega ratio: Gain probability vs. loss probability	—	1.15	—
Calmar ratio: Return relative to maximum drawdown	—	0.88	—
Martin ratio: Return relative to average drawdown	—	2.97	—

Drawdowns

ODTE vs. USOY - Drawdown Comparison

The maximum ODTE drawdown since its inception was -4.67%, smaller than the maximum USOY drawdown of -25.51%. Use the drawdown chart below to compare losses from any high point for ODTE and USOY.

Drawdown Indicators

	ODTE	USOY	Difference
Max Drawdown Largest peak-to-trough decline	-4.67%	-25.51%	+20.84%
Max Drawdown (1Y) Largest decline over 1 year	—	-25.51%	—
Current Drawdown Current decline from peak	-2.97%	-25.04%	+22.07%
Average Drawdown Average peak-to-trough decline	-1.06%	-6.86%	+5.80%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	7.57%	—

Volatility

Volatility by Period

	ODTE	USOY	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	10.18%	—
Volatility (6M) Calculated over the trailing 6-month period	—	29.05%	—
Volatility (1Y) Calculated over the trailing 1-year period	15.51%	31.45%	-15.94%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.51%	26.71%	-11.20%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.51%	26.71%	-11.20%

ODTE vs. USOY - Expense Ratio Comparison

ODTE has a 0.76% expense ratio, which is lower than USOY's 1.22% expense ratio.

Dividends

ODTE vs. USOY - Dividend Comparison

ODTE's dividend yield for the trailing twelve months is around 3.27%, less than USOY's 72.00% yield.

Position	TTM	2025	2024
ODTE VegaShares SPX NDX RTY Premium Income ETF	3.27%	0.00%	0.00%
USOY Defiance Oil Enhanced Options Income ETF	72.00%	104.32%	48.60%

Frequently Asked Questions

Can I hold both ODTE and USOY in my portfolio?

ODTE and USOY have a correlation of -0.24, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, ODTE or USOY?

On fees, ODTE is cheaper at 0.76% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, ODTE or USOY?

ODTE is cheaper with a 0.76% expense ratio, compared with 1.22% for USOY.

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

USOY has the higher dividend yield at 72.00%, compared with 3.27% for ODTE.

What is the main difference between ODTE and USOY?

They also come from different issuers: VegaShares and Defiance. Their fees differ too: 0.76% for ODTE and 1.22% for USOY.