PGJ vs. USOY
PGJ (Invesco Golden Dragon China ETF) and USOY (Defiance Oil Enhanced Options Income ETF) are both exchange-traded funds - PGJ is a China Equities fund tracking the Halter USX China Index, while USOY is a Derivative Income fund actively managed by Defiance. PGJ is passively managed, while USOY is actively managed. Over the past year, PGJ returned -4.61% vs 57.29% for USOY. At a correlation of -0.00, they often move in opposite directions. PGJ charges 0.70%/yr vs 1.22%/yr for USOY.
Performance
PGJ vs. USOY - Performance Comparison
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Returns By Period
In the year-to-date period, PGJ achieves a -10.99% return, which is significantly lower than USOY's 62.18% return.
PGJ
- 1D
- -2.45%
- 1M
- -3.45%
- YTD
- -10.99%
- 6M
- -12.93%
- 1Y
- -4.61%
- 3Y*
- 3.00%
- 5Y*
- -13.64%
- 10Y*
- 0.39%
USOY
- 1D
- 1.45%
- 1M
- -3.43%
- YTD
- 62.18%
- 6M
- 59.35%
- 1Y
- 57.29%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
PGJ vs. USOY - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
PGJ Invesco Golden Dragon China ETF | -10.99% | 13.66% | 3.83% |
USOY Defiance Oil Enhanced Options Income ETF | 62.18% | -7.93% | 7.27% |
Correlation
The correlation between PGJ and USOY is -0.18, 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 | -0.18 |
Correlation (All Time) Calculated using the full available price history since May 13, 2024 | -0.00 |
The correlation between PGJ and USOY shifts across timeframes, from -0.18 (1 year) to -0.00 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
PGJ vs. USOY — Risk / Return Rank
PGJ
USOY
PGJ vs. USOY - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco Golden Dragon China ETF (PGJ) 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.
| PGJ | USOY | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.08 | ||
| Sortino ratioReturn per unit of downside risk | -2.40 | ||
| Omega ratioGain probability vs. loss probability | 0.99 | 1.35 | -0.36 |
| Calmar ratioReturn relative to maximum drawdown | -0.18 | 4.03 | -4.21 |
| Martin ratioReturn relative to average drawdown | -0.34 | 7.74 | -8.09 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| PGJ | USOY | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -0.19 | 1.89 | -2.08 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.31 | — | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.01 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.12 | 0.99 | -0.87 |
Drawdowns
PGJ vs. USOY - Drawdown Comparison
The maximum PGJ drawdown since its inception was -78.37%, which is greater than USOY's maximum drawdown of -17.46%. Use the drawdown chart below to compare losses from any high point for PGJ and USOY.
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Drawdown Indicators
| PGJ | USOY | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -78.37% | -17.46% | -60.91% |
Max Drawdown (1Y)Largest decline over 1 year | -25.69% | -14.29% | -11.40% |
Max Drawdown (3Y)Largest decline over 3 years | -30.82% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -70.00% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -78.37% | — | — |
Current DrawdownCurrent decline from peak | -66.07% | -5.11% | -60.96% |
Average DrawdownAverage peak-to-trough decline | -31.74% | -6.47% | -25.27% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 13.40% | 7.42% | +5.98% |
Volatility
PGJ vs. USOY - Volatility Comparison
The current volatility for Invesco Golden Dragon China ETF (PGJ) is 8.55%, while Defiance Oil Enhanced Options Income ETF (USOY) has a volatility of 11.62%. This indicates that PGJ 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.
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Volatility by Period
| PGJ | USOY | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 8.55% | 11.62% | -3.07% |
Volatility (6M)Calculated over the trailing 6-month period | 17.28% | 27.18% | -9.90% |
Volatility (1Y)Calculated over the trailing 1-year period | 24.46% | 30.44% | -5.98% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 43.73% | 26.13% | +17.60% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 36.70% | 26.13% | +10.57% |
PGJ vs. USOY - Expense Ratio Comparison
PGJ has a 0.70% expense ratio, which is lower than USOY's 1.22% expense ratio.
Dividends
PGJ vs. USOY - Dividend Comparison
PGJ's dividend yield for the trailing twelve months is around 3.56%, less than USOY's 54.16% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
PGJ Invesco Golden Dragon China ETF | 3.56% | 3.38% | 4.70% | 2.50% | 0.84% | 0.00% | 0.30% | 0.17% | 0.31% | 2.05% | 1.94% | 0.37% |
USOY Defiance Oil Enhanced Options Income ETF | 54.16% | 104.32% | 48.60% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
PGJ and USOY have a correlation of -0.18, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
USOY has higher volatility (11.62%) compared to PGJ (8.55%). In terms of maximum drawdown, PGJ dropped -78.37% vs USOY's -17.46%.
On 1-year performance, USOY leads with 57.29% vs -4.61% for PGJ. On fees, PGJ is cheaper at 0.70% per year. On volatility, PGJ has been the lower-risk option at 8.55%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, USOY has performed better with a 57.29% return vs -4.61%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
PGJ is cheaper with a 0.70% expense ratio, compared with 1.22% for USOY.
USOY has the higher dividend yield at 54.16%, compared with 3.56% for PGJ.
PGJ is categorized as China Equities, while USOY is Derivative Income. They also come from different issuers: Invesco and Defiance. Their fees differ too: 0.70% for PGJ and 1.22% for USOY.
USOY currently has the higher Sharpe Ratio (1.89 vs -0.19), 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.
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