OGIG vs. USOY

Last updated Jun 4, 2026

OGIG (O’Shares Global Internet Giants ETF) and USOY (Defiance Oil Enhanced Options Income ETF) are both exchange-traded funds - OGIG is a Large Cap Growth Equities fund tracking the O’Shares Global Internet Giants Index, while USOY is a Derivative Income fund actively managed by Defiance. OGIG is passively managed, while USOY is actively managed. Over the past year, OGIG returned -6.52% vs 57.29% for USOY. At a 0.00 correlation, their price movements are largely independent. OGIG charges 0.48%/yr vs 1.22%/yr for USOY.

Performance

OGIG vs. USOY - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in O’Shares Global Internet Giants ETF (OGIG) 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, OGIG achieves a -9.21% return, which is significantly lower than USOY's 62.18% return.

OGIG

• 1D: -3.46%
• 1M: 6.90%
• YTD: -9.21%
• 6M: -10.93%
• 1Y: -6.52%
• 3Y*: 15.13%
• 5Y*: -2.07%
• 10Y*: —

USOY

• 1D: 1.45%
• 1M: -3.43%
• YTD: 62.18%
• 6M: 59.35%
• 1Y: 57.29%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

OGIG vs. USOY - Yearly Performance Comparison

	2026 (YTD)	2025	2024
OGIG O’Shares Global Internet Giants ETF	-9.21%	14.39%	20.14%
USOY Defiance Oil Enhanced Options Income ETF	62.18%	-7.93%	7.27%

Correlation

The correlation between OGIG and USOY is -0.17, 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	-0.17
Correlation (All Time) Calculated using the full available price history since May 13, 2024	0.00

The correlation between OGIG and USOY shifts across timeframes, from -0.17 (1 year) to 0.00 (all time), reflecting how their relationship changes across market environments.

Return for Risk

OGIG vs. USOY — Risk / Return Rank

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

OGIG

OGIG Risk / Return Rank: 6
OGIG Sharpe Ratio Rank: 6
OGIG Sortino Ratio Rank: 6
OGIG Omega Ratio Rank: 6
OGIG Calmar Ratio Rank: 7
OGIG Martin Ratio Rank: 7

USOY

USOY Risk / Return Rank: 56
USOY Sharpe Ratio Rank: 55
USOY Sortino Ratio Rank: 46
USOY Omega Ratio Rank: 55
USOY Calmar Ratio Rank: 78
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.

OGIG vs. USOY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for O’Shares Global Internet Giants ETF (OGIG) 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.

	OGIG	USOY	Difference
Sharpe ratio: Return per unit of total volatility	-0.30	1.89	-2.19
Sortino ratio: Return per unit of downside risk	-0.26	2.30	-2.56
Omega ratio: Gain probability vs. loss probability	0.97	1.35	-0.38
Calmar ratio: Return relative to maximum drawdown	-0.20	4.03	-4.23
Martin ratio: Return relative to average drawdown	-0.41	7.74	-8.15
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

OGIG vs. USOY - Sharpe Ratio Comparison

The current OGIG Sharpe Ratio is -0.30, which is lower than the USOY Sharpe Ratio of 1.89. The chart below compares the historical Sharpe Ratios of OGIG 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

	OGIG	USOY	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.30	1.89	-2.19
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.07	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.27	0.99	-0.72

Drawdowns

OGIG vs. USOY - Drawdown Comparison

The maximum OGIG drawdown since its inception was -66.05%, which is greater than USOY's maximum drawdown of -17.46%. Use the drawdown chart below to compare losses from any high point for OGIG and USOY.

Drawdown Indicators

	OGIG	USOY	Difference
Max Drawdown Largest peak-to-trough decline	-66.05%	-17.46%	-48.59%
Max Drawdown (1Y) Largest decline over 1 year	-33.23%	-14.29%	-18.94%
Max Drawdown (3Y) Largest decline over 3 years	-33.23%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-62.79%	—	—
Current Drawdown Current decline from peak	-24.99%	-5.11%	-19.88%
Average Drawdown Average peak-to-trough decline	-25.67%	-6.47%	-19.20%
Ulcer Index Depth and duration of drawdowns from previous peaks	15.84%	7.42%	+8.42%

Volatility

OGIG vs. USOY - Volatility Comparison

The current volatility for O’Shares Global Internet Giants ETF (OGIG) is 8.15%, while Defiance Oil Enhanced Options Income ETF (USOY) has a volatility of 11.62%. This indicates that OGIG 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

	OGIG	USOY	Difference
Volatility (1M) Calculated over the trailing 1-month period	8.15%	11.62%	-3.47%
Volatility (6M) Calculated over the trailing 6-month period	18.28%	27.18%	-8.90%
Volatility (1Y) Calculated over the trailing 1-year period	22.16%	30.44%	-8.28%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	31.58%	26.13%	+5.45%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	31.03%	26.13%	+4.90%

OGIG vs. USOY - Expense Ratio Comparison

OGIG has a 0.48% expense ratio, which is lower than USOY's 1.22% expense ratio.

Dividends

OGIG vs. USOY - Dividend Comparison

OGIG's dividend yield for the trailing twelve months is around 0.08%, less than USOY's 54.16% yield.

Position	TTM	2025	2024
OGIG O’Shares Global Internet Giants ETF	0.08%	0.07%	0.00%
USOY Defiance Oil Enhanced Options Income ETF	54.16%	104.32%	48.60%

Frequently Asked Questions

Can I hold both OGIG and USOY in my portfolio?

OGIG and USOY have a correlation of -0.17, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, OGIG or USOY?

USOY has higher volatility (11.62%) compared to OGIG (8.15%). In terms of maximum drawdown, OGIG dropped -66.05% vs USOY's -17.46%.

Which ETF is better, OGIG or USOY?

On 1-year performance, USOY leads with 57.29% vs -6.52% for OGIG. On fees, OGIG is cheaper at 0.48% per year. On volatility, OGIG has been the lower-risk option at 8.15%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, OGIG or USOY?

Over the 1-year period, USOY has performed better with a 57.29% return vs -6.52%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, OGIG or USOY?

OGIG is cheaper with a 0.48% expense ratio, compared with 1.22% for USOY.

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

USOY has the higher dividend yield at 54.16%, compared with 0.08% for OGIG.

What is the main difference between OGIG and USOY?

OGIG is categorized as Large Cap Growth Equities, while USOY is Derivative Income. They also come from different issuers: O'Shares Investments and Defiance. Their fees differ too: 0.48% for OGIG and 1.22% for USOY.

Which has better risk-adjusted returns?

USOY currently has the higher Sharpe Ratio (1.89 vs -0.30), 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.