RDTE vs. USOY

Last updated Jun 5, 2026

RDTE (Roundhill Small Cap 0DTE Covered Call Strategy ETF) and USOY (Defiance Oil Enhanced Options Income ETF) are both Derivative Income funds. Both are actively managed. Over the past year, RDTE returned 29.84% vs 54.64% for USOY. At a correlation of -0.08, they often move in opposite directions. RDTE charges 0.95%/yr vs 1.22%/yr for USOY.

Performance

RDTE vs. USOY - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Roundhill Small Cap 0DTE Covered Call Strategy ETF (RDTE) 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, RDTE achieves a 13.89% return, which is significantly lower than USOY's 59.27% return.

RDTE

• 1D: 1.07%
• 1M: 2.01%
• YTD: 13.89%
• 6M: 12.63%
• 1Y: 29.84%
• 3Y*: —
• 5Y*: —
• 10Y*: —

USOY

• 1D: -1.79%
• 1M: -3.80%
• YTD: 59.27%
• 6M: 55.41%
• 1Y: 54.64%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

RDTE vs. USOY - Yearly Performance Comparison

	2026 (YTD)	2025	2024
RDTE Roundhill Small Cap 0DTE Covered Call Strategy ETF	13.89%	9.46%	8.81%
USOY Defiance Oil Enhanced Options Income ETF	59.27%	-7.93%	18.72%

Correlation

The correlation between RDTE and USOY is -0.23, 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	-0.23
Correlation (All Time) Calculated using the full available price history since Sep 11, 2024	-0.08

The correlation between RDTE and USOY shifts across timeframes, from -0.23 (1 year) to -0.08 (all time), reflecting how their relationship changes across market environments.

Return for Risk

RDTE vs. USOY — Risk / Return Rank

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

RDTE

RDTE Risk / Return Rank: 57
RDTE Sharpe Ratio Rank: 53
RDTE Sortino Ratio Rank: 51
RDTE Omega Ratio Rank: 48
RDTE Calmar Ratio Rank: 67
RDTE Martin Ratio Rank: 64

USOY

USOY Risk / Return Rank: 55
USOY Sharpe Ratio Rank: 54
USOY Sortino Ratio Rank: 45
USOY Omega Ratio Rank: 55
USOY Calmar Ratio Rank: 77
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.

RDTE vs. USOY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Roundhill Small Cap 0DTE Covered Call Strategy ETF (RDTE) 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.

	RDTE	USOY	Difference
Sharpe ratio: Return per unit of total volatility	1.79	1.80	-0.01
Sortino ratio: Return per unit of downside risk	2.46	2.21	+0.25
Omega ratio: Gain probability vs. loss probability	1.30	1.33	-0.03
Calmar ratio: Return relative to maximum drawdown	3.27	3.84	-0.57
Martin ratio: Return relative to average drawdown	11.37	7.37	+4.00
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

RDTE vs. USOY - Sharpe Ratio Comparison

The current RDTE Sharpe Ratio is 1.79, which is comparable to the USOY Sharpe Ratio of 1.80. The chart below compares the historical Sharpe Ratios of RDTE 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

	RDTE	USOY	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.79	1.80	-0.01
Sharpe Ratio (All Time) Calculated using the full available price history	1.01	0.95	+0.07

Drawdowns

RDTE vs. USOY - Drawdown Comparison

The maximum RDTE drawdown since its inception was -24.32%, which is greater than USOY's maximum drawdown of -17.46%. Use the drawdown chart below to compare losses from any high point for RDTE and USOY.

Drawdown Indicators

	RDTE	USOY	Difference
Max Drawdown Largest peak-to-trough decline	-24.32%	-17.46%	-6.86%
Max Drawdown (1Y) Largest decline over 1 year	-9.17%	-14.29%	+5.12%
Current Drawdown Current decline from peak	-0.05%	-6.81%	+6.76%
Average Drawdown Average peak-to-trough decline	-4.66%	-6.47%	+1.81%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.63%	7.43%	-4.80%

Volatility

RDTE vs. USOY - Volatility Comparison

The current volatility for Roundhill Small Cap 0DTE Covered Call Strategy ETF (RDTE) is 4.98%, while Defiance Oil Enhanced Options Income ETF (USOY) has a volatility of 11.67%. This indicates that RDTE 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

	RDTE	USOY	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.98%	11.67%	-6.69%
Volatility (6M) Calculated over the trailing 6-month period	12.37%	27.26%	-14.89%
Volatility (1Y) Calculated over the trailing 1-year period	16.73%	30.50%	-13.77%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	19.17%	26.14%	-6.97%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.17%	26.14%	-6.97%

RDTE vs. USOY - Expense Ratio Comparison

RDTE has a 0.95% expense ratio, which is lower than USOY's 1.22% expense ratio.

Dividends

RDTE vs. USOY - Dividend Comparison

RDTE's dividend yield for the trailing twelve months is around 46.02%, less than USOY's 56.65% yield.

Position	TTM	2025	2024
RDTE Roundhill Small Cap 0DTE Covered Call Strategy ETF	46.02%	50.16%	10.70%
USOY Defiance Oil Enhanced Options Income ETF	56.65%	104.32%	48.60%

Frequently Asked Questions

Can I hold both RDTE and USOY in my portfolio?

RDTE and USOY have a correlation of -0.23, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, RDTE or USOY?

USOY has higher volatility (11.67%) compared to RDTE (4.98%). In terms of maximum drawdown, RDTE dropped -24.32% vs USOY's -17.46%.

Which ETF is better, RDTE or USOY?

On 1-year performance, USOY leads with 54.64% vs 29.84% for RDTE. On fees, RDTE is cheaper at 0.95% per year. On volatility, RDTE has been the lower-risk option at 4.98%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, RDTE or USOY?

Over the 1-year period, USOY has performed better with a 54.64% return vs 29.84%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, RDTE or USOY?

RDTE is cheaper with a 0.95% expense ratio, compared with 1.22% for USOY.

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

USOY has the higher dividend yield at 56.65%, compared with 46.02% for RDTE.

What is the main difference between RDTE and USOY?

They also come from different issuers: Roundhill and Defiance. Their fees differ too: 0.95% for RDTE and 1.22% for USOY.

Which has better risk-adjusted returns?

USOY currently has the higher Sharpe Ratio (1.80 vs 1.79), 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.