SETM vs. USOY

Last updated Jun 4, 2026

SETM (Sprott Energy Transition Materials ETF) and USOY (Defiance Oil Enhanced Options Income ETF) are both exchange-traded funds - SETM is a Energy Equities fund tracking the Nasdaq Sprott Energy Transition Materials Select Index - AUD - Benchmark TR Gross, while USOY is a Derivative Income fund actively managed by Defiance. SETM is passively managed, while USOY is actively managed. Over the past year, SETM returned 144.21% vs 57.29% for USOY. At a 0.02 correlation, their price movements are largely independent. SETM charges 0.65%/yr vs 1.22%/yr for USOY.

Performance

SETM vs. USOY - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Sprott Energy Transition Materials ETF (SETM) 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, SETM achieves a 27.22% return, which is significantly lower than USOY's 62.18% return.

SETM

• 1D: -4.09%
• 1M: 2.39%
• YTD: 27.22%
• 6M: 33.66%
• 1Y: 144.21%
• 3Y*: 30.90%
• 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)

SETM vs. USOY - Yearly Performance Comparison

	2026 (YTD)	2025	2024
SETM Sprott Energy Transition Materials ETF	27.22%	95.27%	-21.03%
USOY Defiance Oil Enhanced Options Income ETF	62.18%	-7.93%	7.27%

Correlation

The correlation between SETM and USOY is -0.15, 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	-0.15
Correlation (All Time) Calculated using the full available price history since May 13, 2024	0.02

The correlation between SETM and USOY shifts across timeframes, from -0.15 (1 year) to 0.02 (all time), reflecting how their relationship changes across market environments.

Return for Risk

SETM vs. USOY — Risk / Return Rank

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

SETM

SETM Risk / Return Rank: 82
SETM Sharpe Ratio Rank: 91
SETM Sortino Ratio Rank: 71
SETM Omega Ratio Rank: 72
SETM Calmar Ratio Rank: 90
SETM Martin Ratio Rank: 84

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.

SETM vs. USOY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Sprott Energy Transition Materials ETF (SETM) 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.

	SETM	USOY	Difference
Sharpe ratio Return per unit of total volatility	3.25	1.89	+1.35
Sortino ratio Return per unit of downside risk	3.29	2.30	+0.99
Omega ratio Gain probability vs. loss probability	1.44	1.35	+0.09
Calmar ratio Return relative to maximum drawdown	5.61	4.03	+1.58
Martin ratio Return relative to average drawdown	17.42	7.74	+9.68
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

SETM vs. USOY - Sharpe Ratio Comparison

The current SETM Sharpe Ratio is 3.25, which is higher than the USOY Sharpe Ratio of 1.89. The chart below compares the historical Sharpe Ratios of SETM 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

	SETM	USOY	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	3.25	1.89	+1.35
Sharpe Ratio (All Time) Calculated using the full available price history	0.59	0.99	-0.40

Drawdowns

SETM vs. USOY - Drawdown Comparison

The maximum SETM drawdown since its inception was -42.81%, which is greater than USOY's maximum drawdown of -17.46%. Use the drawdown chart below to compare losses from any high point for SETM and USOY.

Drawdown Indicators

	SETM	USOY	Difference
Max Drawdown Largest peak-to-trough decline	-42.81%	-17.46%	-25.35%
Max Drawdown (1Y) Largest decline over 1 year	-25.85%	-14.29%	-11.56%
Max Drawdown (3Y) Largest decline over 3 years	-42.81%	—	—
Current Drawdown Current decline from peak	-7.30%	-5.11%	-2.19%
Average Drawdown Average peak-to-trough decline	-14.26%	-6.47%	-7.79%
Ulcer Index Depth and duration of drawdowns from previous peaks	8.31%	7.42%	+0.89%

Volatility

SETM vs. USOY - Volatility Comparison

Sprott Energy Transition Materials ETF (SETM) has a higher volatility of 13.58% compared to Defiance Oil Enhanced Options Income ETF (USOY) at 11.62%. This indicates that SETM's price experiences larger fluctuations and is considered to be riskier than USOY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SETM	USOY	Difference
Volatility (1M) Calculated over the trailing 1-month period	13.58%	11.62%	+1.96%
Volatility (6M) Calculated over the trailing 6-month period	34.49%	27.18%	+7.31%
Volatility (1Y) Calculated over the trailing 1-year period	44.71%	30.44%	+14.27%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	36.57%	26.13%	+10.44%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	36.57%	26.13%	+10.44%

SETM vs. USOY - Expense Ratio Comparison

SETM has a 0.65% expense ratio, which is lower than USOY's 1.22% expense ratio.

Dividends

SETM vs. USOY - Dividend Comparison

SETM's dividend yield for the trailing twelve months is around 1.23%, less than USOY's 54.16% yield.

Position	TTM	2025	2024	2023
SETM Sprott Energy Transition Materials ETF	1.23%	1.56%	2.07%	2.47%
USOY Defiance Oil Enhanced Options Income ETF	54.16%	104.32%	48.60%	0.00%

Frequently Asked Questions

Can I hold both SETM and USOY in my portfolio?

SETM and USOY have a correlation of -0.15, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, SETM or USOY?

SETM has higher volatility (13.58%) compared to USOY (11.62%). In terms of maximum drawdown, SETM dropped -42.81% vs USOY's -17.46%.

Which ETF is better, SETM or USOY?

On 1-year performance, SETM leads with 144.21% vs 57.29% for USOY. On fees, SETM is cheaper at 0.65% per year. On volatility, USOY has been the lower-risk option at 11.62%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, SETM or USOY?

Over the 1-year period, SETM has performed better with a 144.21% return vs 57.29%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, SETM or USOY?

SETM is cheaper with a 0.65% expense ratio, compared with 1.22% for USOY.

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

USOY has the higher dividend yield at 54.16%, compared with 1.23% for SETM.

What is the main difference between SETM and USOY?

SETM is categorized as Energy Equities, while USOY is Derivative Income. They also come from different issuers: Sprott and Defiance. Their fees differ too: 0.65% for SETM and 1.22% for USOY.

Which has better risk-adjusted returns?

SETM currently has the higher Sharpe Ratio (3.25 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.