RKLZ vs. USOY

Last updated Jun 26, 2026

RKLZ (Defiance Daily Target 2X Short RKLB ETF) and USOY (Defiance Oil Enhanced Options Income ETF) are both exchange-traded funds - RKLZ is a Inverse Equities fund actively managed by Defiance, while USOY is a Derivative Income fund actively managed by Defiance. Both are actively managed. At a 0.08 correlation, their price movements are largely independent. RKLZ charges 1.29%/yr vs 1.22%/yr for USOY.

Performance

RKLZ vs. USOY - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Defiance Daily Target 2X Short RKLB ETF (RKLZ) 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, RKLZ achieves a -89.18% return, which is significantly lower than USOY's 32.73% return.

RKLZ

• 1D: 10.97%
• 1M: 137.97%
• YTD: -89.18%
• 6M: -87.03%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

USOY

• 1D: 2.72%
• 1M: -16.67%
• YTD: 32.73%
• 6M: 31.77%
• 1Y: 28.90%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

RKLZ vs. USOY - Yearly Performance Comparison

	2026 (YTD)	2025
RKLZ Defiance Daily Target 2X Short RKLB ETF	-89.18%	-75.89%
USOY Defiance Oil Enhanced Options Income ETF	32.73%	-0.79%

Correlation

The correlation between RKLZ and USOY is 0.08, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (All Time) Calculated using the full available price history since Nov 18, 2025	0.08

Return for Risk

RKLZ vs. USOY — Risk / Return Rank

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

RKLZ

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

USOY

USOY Risk / Return Rank: 29
USOY Sharpe Ratio Rank: 28
USOY Sortino Ratio Rank: 26
USOY Omega Ratio Rank: 30
USOY Calmar Ratio Rank: 27
USOY Martin Ratio Rank: 32

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.

RKLZ vs. USOY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Defiance Daily Target 2X Short RKLB ETF (RKLZ) 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.

	RKLZ	USOY	Difference
Sharpe ratio: Return per unit of total volatility	—	0.93	—
Sortino ratio: Return per unit of downside risk	—	1.34	—
Omega ratio: Gain probability vs. loss probability	—	1.19	—
Calmar ratio: Return relative to maximum drawdown	—	1.19	—
Martin ratio: Return relative to average drawdown	—	4.29	—

Drawdowns

RKLZ vs. USOY - Drawdown Comparison

The maximum RKLZ drawdown since its inception was -99.10%, which is greater than USOY's maximum drawdown of -24.40%. Use the drawdown chart below to compare losses from any high point for RKLZ and USOY.

Drawdown Indicators

	RKLZ	USOY	Difference
Max Drawdown Largest peak-to-trough decline	-99.10%	-24.40%	-74.70%
Max Drawdown (1Y) Largest decline over 1 year	—	-24.40%	—
Current Drawdown Current decline from peak	-97.63%	-22.34%	-75.29%
Average Drawdown Average peak-to-trough decline	-81.58%	-6.70%	-74.88%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	6.75%	—

Volatility

Volatility by Period

	RKLZ	USOY	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	11.41%	—
Volatility (6M) Calculated over the trailing 6-month period	—	28.84%	—
Volatility (1Y) Calculated over the trailing 1-year period	207.29%	31.19%	+176.10%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	207.29%	26.68%	+180.61%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	207.29%	26.68%	+180.61%

RKLZ vs. USOY - Expense Ratio Comparison

RKLZ has a 1.29% expense ratio, which is higher than USOY's 1.22% expense ratio.

Dividends

RKLZ vs. USOY - Dividend Comparison

RKLZ has not paid dividends to shareholders, while USOY's dividend yield for the trailing twelve months is around 70.91%.

Position	TTM	2025	2024
RKLZ Defiance Daily Target 2X Short RKLB ETF	0.00%	0.00%	0.00%
USOY Defiance Oil Enhanced Options Income ETF	70.91%	104.32%	48.60%

Frequently Asked Questions

Can I hold both RKLZ and USOY in my portfolio?

RKLZ and USOY have a correlation of 0.08, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, RKLZ 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, RKLZ or USOY?

USOY is cheaper with a 1.22% expense ratio, compared with 1.29% for RKLZ.

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

USOY has the higher dividend yield at 70.91%, compared with 0.00% for RKLZ.

What is the main difference between RKLZ and USOY?

RKLZ is categorized as Inverse Equities, while USOY is Derivative Income. Their fees differ too: 1.29% for RKLZ and 1.22% for USOY.