QQQY vs. USOY

Last updated Jun 4, 2026

QQQY (Defiance Nasdaq 100 Enhanced Options Income ETF) and USOY (Defiance Oil Enhanced Options Income ETF) are both exchange-traded funds - QQQY is a Nasdaq-100 fund actively managed by Defiance, while USOY is a Derivative Income fund actively managed by Defiance. Both are actively managed. Over the past year, QQQY returned 36.38% vs 57.29% for USOY. At a correlation of -0.09, they often move in opposite directions. QQQY charges 0.99%/yr vs 1.22%/yr for USOY.

Performance

QQQY vs. USOY - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Defiance Nasdaq 100 Enhanced Options Income ETF (QQQY) 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, QQQY achieves a 19.07% return, which is significantly lower than USOY's 62.18% return.

QQQY

• 1D: -0.36%
• 1M: 9.64%
• YTD: 19.07%
• 6M: 19.11%
• 1Y: 36.38%
• 3Y*: —
• 5Y*: —
• 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)

QQQY vs. USOY - Yearly Performance Comparison

	2026 (YTD)	2025	2024
QQQY Defiance Nasdaq 100 Enhanced Options Income ETF	19.07%	14.96%	5.13%
USOY Defiance Oil Enhanced Options Income ETF	62.18%	-7.93%	7.27%

Correlation

The correlation between QQQY and USOY is -0.30, 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	-0.30
Correlation (All Time) Calculated using the full available price history since May 13, 2024	-0.09

Over the past year, the inverse relationship between QQQY and USOY has strengthened: their correlation has moved from -0.09 to -0.30, meaning they now move in opposite directions more often than their long-term average.

Return for Risk

QQQY vs. USOY — Risk / Return Rank

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

QQQY

QQQY Risk / Return Rank: 74
QQQY Sharpe Ratio Rank: 81
QQQY Sortino Ratio Rank: 73
QQQY Omega Ratio Rank: 80
QQQY Calmar Ratio Rank: 65
QQQY Martin Ratio Rank: 73

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.

QQQY vs. USOY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Defiance Nasdaq 100 Enhanced Options Income ETF (QQQY) 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.

	QQQY	USOY	Difference
Sharpe ratio: Return per unit of total volatility	2.68	1.89	+0.78
Sortino ratio: Return per unit of downside risk	3.37	2.30	+1.08
Omega ratio: Gain probability vs. loss probability	1.49	1.35	+0.14
Calmar ratio: Return relative to maximum drawdown	3.28	4.03	-0.75
Martin ratio: Return relative to average drawdown	13.95	7.74	+6.21
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

QQQY vs. USOY - Sharpe Ratio Comparison

The current QQQY Sharpe Ratio is 2.68, which is higher than the USOY Sharpe Ratio of 1.89. The chart below compares the historical Sharpe Ratios of QQQY 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

	QQQY	USOY	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.68	1.89	+0.78
Sharpe Ratio (All Time) Calculated using the full available price history	1.25	0.99	+0.26

Drawdowns

QQQY vs. USOY - Drawdown Comparison

The maximum QQQY drawdown since its inception was -19.05%, which is greater than USOY's maximum drawdown of -17.46%. Use the drawdown chart below to compare losses from any high point for QQQY and USOY.

Drawdown Indicators

	QQQY	USOY	Difference
Max Drawdown Largest peak-to-trough decline	-19.05%	-17.46%	-1.59%
Max Drawdown (1Y) Largest decline over 1 year	-11.14%	-14.29%	+3.15%
Current Drawdown Current decline from peak	-0.36%	-5.11%	+4.75%
Average Drawdown Average peak-to-trough decline	-2.91%	-6.47%	+3.56%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.61%	7.42%	-4.81%

Volatility

QQQY vs. USOY - Volatility Comparison

The current volatility for Defiance Nasdaq 100 Enhanced Options Income ETF (QQQY) is 4.21%, while Defiance Oil Enhanced Options Income ETF (USOY) has a volatility of 11.62%. This indicates that QQQY 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

	QQQY	USOY	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.21%	11.62%	-7.41%
Volatility (6M) Calculated over the trailing 6-month period	11.30%	27.18%	-15.88%
Volatility (1Y) Calculated over the trailing 1-year period	13.67%	30.44%	-16.77%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.75%	26.13%	-11.38%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	14.75%	26.13%	-11.38%

QQQY vs. USOY - Expense Ratio Comparison

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

Dividends

QQQY vs. USOY - Dividend Comparison

QQQY's dividend yield for the trailing twelve months is around 34.34%, less than USOY's 54.16% yield.

Position	TTM	2025	2024	2023
QQQY Defiance Nasdaq 100 Enhanced Options Income ETF	34.34%	45.34%	83.34%	20.64%
USOY Defiance Oil Enhanced Options Income ETF	54.16%	104.32%	48.60%	0.00%

Frequently Asked Questions

Can I hold both QQQY and USOY in my portfolio?

QQQY and USOY have a correlation of -0.30, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, QQQY or USOY?

USOY has higher volatility (11.62%) compared to QQQY (4.21%). In terms of maximum drawdown, QQQY dropped -19.05% vs USOY's -17.46%.

Which ETF is better, QQQY or USOY?

On 1-year performance, USOY leads with 57.29% vs 36.38% for QQQY. On fees, QQQY is cheaper at 0.99% per year. On volatility, QQQY has been the lower-risk option at 4.21%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, QQQY or USOY?

Over the 1-year period, USOY has performed better with a 57.29% return vs 36.38%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, QQQY or USOY?

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

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

USOY has the higher dividend yield at 54.16%, compared with 34.34% for QQQY.

What is the main difference between QQQY and USOY?

QQQY is categorized as Nasdaq-100, while USOY is Derivative Income. Their fees differ too: 0.99% for QQQY and 1.22% for USOY.

Which has better risk-adjusted returns?

QQQY currently has the higher Sharpe Ratio (2.68 vs 1.89), 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.