RCAX vs. USOY

Last updated Aug 1, 2026

RCAX (Defiance Daily Target 2X Long RCAT ETF) and USOY (Defiance Oil Enhanced Options Income ETF) are both exchange-traded funds - RCAX is a Leveraged Equities fund tracking the Red Cat Holdings, Inc. (RCAT), while USOY is a Derivative Income fund actively managed by Defiance. RCAX is passively managed, while USOY is actively managed. Their 0.00 correlation means their historical movements had little consistent relationship. RCAX charges 1.31%/yr vs 1.22%/yr for USOY.

Performance

RCAX vs. USOY - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Defiance Daily Target 2X Long RCAT ETF (RCAX) and Defiance Oil Enhanced Options Income ETF (USOY). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

RCAX

• 1D: 4.47%
• 1M: -53.08%
• 6M: —
• YTD: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: —

USOY

• 1D: 1.10%
• 1M: 18.05%
• 6M: 38.09%
• YTD: 51.25%
• 1Y: 41.94%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 19.21%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
RCAX Defiance Daily Target 2X Long RCAT ETF	$909.56K	$1.38M	$4.68M
USOY Defiance Oil Enhanced Options Income ETF	$3.02M	$3.27M	$3.42M

RCAX vs. USOY - Yearly Performance Comparison

	2026 (YTD)
RCAX Defiance Daily Target 2X Long RCAT ETF	-87.11%
USOY Defiance Oil Enhanced Options Income ETF	42.24%

Correlation

The correlation between RCAX and USOY is 0.00, meaning there was essentially no consistent relationship between their historical price movements. Each responded to its own set of market drivers.

	Correlation
Correlation (All Time) Calculated using the full available price history since Feb 3, 2026	0.00

Return for Risk

RCAX vs. USOY — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

RCAX

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

USOY

USOY Risk / Return Rank: 44
USOY Sharpe Ratio Rank: 46
USOY Sortino Ratio Rank: 43
USOY Omega Ratio Rank: 47
USOY Calmar Ratio Rank: 43
USOY Martin Ratio Rank: 41

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

RCAX vs. USOY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Defiance Daily Target 2X Long RCAT ETF (RCAX) 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.

	RCAX	USOY	Difference
Sharpe ratio: Return per unit of total volatility	—	1.12	—
Sortino ratio: Return per unit of downside risk	—	1.59	—
Omega ratio: Gain probability vs. loss probability	—	1.22	—
Calmar ratio: Return relative to maximum drawdown	—	1.53	—
Martin ratio: Return relative to average drawdown	—	4.54	—

Drawdowns

RCAX vs. USOY - Drawdown Comparison

The maximum RCAX drawdown since its inception was -91.59%, which is greater than USOY's maximum drawdown of -25.51%. Use the drawdown chart below to compare losses from any high point for RCAX and USOY.

Drawdown Indicators

	RCAX	USOY	Difference
Max Drawdown Largest peak-to-trough decline	-91.59%	-25.51%	-66.08%
Max Drawdown (1Y) Largest decline over 1 year	—	-25.51%	—
Current Drawdown Current decline from peak	-89.70%	-11.50%	-78.20%
Average Drawdown Average peak-to-trough decline	-55.15%	-7.16%	-47.99%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	8.81%	—

Volatility

Volatility by Period

	RCAX	USOY	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	15.28%	—
Volatility (6M) Calculated over the trailing 6-month period	—	32.32%	—
Volatility (1Y) Calculated over the trailing 1-year period	227.62%	34.89%	+192.73%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	227.62%	28.20%	+199.42%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	227.62%	28.20%	+199.42%

RCAX vs. USOY - Expense Ratio Comparison

RCAX has a 1.31% expense ratio, which is higher than USOY's 1.22% expense ratio.

Dividends

RCAX vs. USOY - Dividend Comparison

RCAX has not paid dividends to shareholders, while USOY's dividend yield for the trailing twelve months is around 56.58%.

Position	TTM	2025	2024
RCAX Defiance Daily Target 2X Long RCAT ETF	0.00%	0.00%	0.00%
USOY Defiance Oil Enhanced Options Income ETF	56.58%	104.32%	48.60%

Frequently Asked Questions

Can I hold both RCAX and USOY in my portfolio?

RCAX and USOY have a correlation of 0.00, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, RCAX or USOY?

On fees, USOY is cheaper at 1.22% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, RCAX or USOY?

USOY is cheaper with a 1.22% expense ratio, compared with 1.31% for RCAX.

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

USOY has the higher dividend yield at 56.58%, compared with 0.00% for RCAX.

What is the main difference between RCAX and USOY?

RCAX is categorized as Leveraged Equities, while USOY is Derivative Income. Their fees differ too: 1.31% for RCAX and 1.22% for USOY.