QLDY vs. USOY
QLDY (Defiance Nasdaq 100 LightningSpread Income ETF) and USOY (Defiance Oil Enhanced Options Income ETF) are both exchange-traded funds - QLDY is a Nasdaq-100 fund actively managed by Defiance, while USOY is a Derivative Income fund actively managed by Defiance. Both are actively managed. At a correlation of -0.21, they often move in opposite directions. QLDY charges 1.04%/yr vs 1.22%/yr for USOY.
Performance
QLDY vs. USOY - Performance Comparison
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Returns By Period
In the year-to-date period, QLDY achieves a 10.66% return, which is significantly lower than USOY's 29.22% return.
QLDY
- 1D
- -1.66%
- 1M
- -3.42%
- YTD
- 10.66%
- 6M
- 8.32%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
USOY
- 1D
- -4.06%
- 1M
- -20.39%
- YTD
- 29.22%
- 6M
- 28.28%
- 1Y
- 26.82%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
QLDY vs. USOY - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
QLDY Defiance Nasdaq 100 LightningSpread Income ETF | 10.66% | 1.54% |
USOY Defiance Oil Enhanced Options Income ETF | 29.22% | -5.76% |
Correlation
The correlation between QLDY and USOY is -0.21, 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 Sep 18, 2025 | -0.21 |
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Return for Risk
QLDY vs. USOY — Risk / Return Rank
QLDY
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
USOY
QLDY vs. USOY - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Defiance Nasdaq 100 LightningSpread Income ETF (QLDY) 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.
| QLDY | USOY | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | — | 1.18 | — |
| Calmar ratioReturn relative to maximum drawdown | — | 1.10 | — |
| Martin ratioReturn relative to average drawdown | — | 4.07 | — |
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Drawdowns
QLDY vs. USOY - Drawdown Comparison
The maximum QLDY drawdown since its inception was -17.44%, smaller than the maximum USOY drawdown of -24.40%. Use the drawdown chart below to compare losses from any high point for QLDY and USOY.
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Drawdown Indicators
| QLDY | USOY | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -17.44% | -24.40% | +6.96% |
Max Drawdown (1Y)Largest decline over 1 year | — | -24.40% | — |
Current DrawdownCurrent decline from peak | -7.20% | -24.40% | +17.20% |
Average DrawdownAverage peak-to-trough decline | -4.24% | -6.67% | +2.43% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | — | 6.60% | — |
Volatility
QLDY vs. USOY - Volatility Comparison
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Volatility by Period
| QLDY | 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 | 21.38% | 31.42% | -10.04% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 21.38% | 26.64% | -5.26% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 21.38% | 26.64% | -5.26% |
QLDY vs. USOY - Expense Ratio Comparison
QLDY has a 1.04% expense ratio, which is lower than USOY's 1.22% expense ratio.
Dividends
QLDY vs. USOY - Dividend Comparison
QLDY's dividend yield for the trailing twelve months is around 24.62%, less than USOY's 71.18% yield.
| Position | TTM | 2025 | 2024 |
|---|---|---|---|
QLDY Defiance Nasdaq 100 LightningSpread Income ETF | 24.62% | 9.34% | 0.00% |
USOY Defiance Oil Enhanced Options Income ETF | 71.18% | 104.32% | 48.60% |
Frequently Asked Questions
QLDY and USOY have a correlation of -0.21, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, QLDY is cheaper at 1.04% per year. The better choice depends on whether you care most about return, fees, risk, or income.
QLDY is cheaper with a 1.04% expense ratio, compared with 1.22% for USOY.
USOY has the higher dividend yield at 71.18%, compared with 24.62% for QLDY.
QLDY is categorized as Nasdaq-100, while USOY is Derivative Income. Their fees differ too: 1.04% for QLDY and 1.22% for USOY.
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