SLTY vs. USOY

Last updated Jun 4, 2026

SLTY (YieldMax Ultra Short Option Income Strategy ETF) and USOY (Defiance Oil Enhanced Options Income ETF) are both Derivative Income funds. Both are actively managed. At a 0.14 correlation, their price movements are largely independent. SLTY charges 1.24%/yr vs 1.22%/yr for USOY.

Performance

SLTY vs. USOY - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in YieldMax Ultra Short Option Income Strategy ETF (SLTY) 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, SLTY achieves a -6.01% return, which is significantly lower than USOY's 62.18% return.

SLTY

• 1D: 0.65%
• 1M: -1.73%
• YTD: -6.01%
• 6M: -5.54%
• 1Y: —
• 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)

SLTY vs. USOY - Yearly Performance Comparison

	2026 (YTD)	2025
SLTY YieldMax Ultra Short Option Income Strategy ETF	-6.01%	-12.17%
USOY Defiance Oil Enhanced Options Income ETF	62.18%	-4.94%

Correlation

The correlation between SLTY and USOY is 0.14, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (All Time) Calculated using the full available price history since Aug 22, 2025	0.14

Return for Risk

SLTY vs. USOY — Risk / Return Rank

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

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.

SLTY vs. USOY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for YieldMax Ultra Short Option Income Strategy ETF (SLTY) 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.

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

Sharpe Ratios by Period

	SLTY	USOY	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	1.89	—
Sharpe Ratio (All Time) Calculated using the full available price history	-1.19	0.99	-2.18

Drawdowns

SLTY vs. USOY - Drawdown Comparison

The maximum SLTY drawdown since its inception was -20.88%, which is greater than USOY's maximum drawdown of -17.46%. Use the drawdown chart below to compare losses from any high point for SLTY and USOY.

Drawdown Indicators

	SLTY	USOY	Difference
Max Drawdown Largest peak-to-trough decline	-20.88%	-17.46%	-3.42%
Max Drawdown (1Y) Largest decline over 1 year	—	-14.29%	—
Current Drawdown Current decline from peak	-17.45%	-5.11%	-12.34%
Average Drawdown Average peak-to-trough decline	-13.72%	-6.47%	-7.25%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	7.42%	—

Volatility

Volatility by Period

	SLTY	USOY	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	11.62%	—
Volatility (6M) Calculated over the trailing 6-month period	—	27.18%	—
Volatility (1Y) Calculated over the trailing 1-year period	18.42%	30.44%	-12.02%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.42%	26.13%	-7.71%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.42%	26.13%	-7.71%

SLTY vs. USOY - Expense Ratio Comparison

SLTY has a 1.24% expense ratio, which is higher than USOY's 1.22% expense ratio.

Dividends

SLTY vs. USOY - Dividend Comparison

SLTY's dividend yield for the trailing twelve months is around 74.24%, more than USOY's 54.16% yield.

Position	TTM	2025	2024
SLTY YieldMax Ultra Short Option Income Strategy ETF	74.24%	29.68%	0.00%
USOY Defiance Oil Enhanced Options Income ETF	54.16%	104.32%	48.60%

Frequently Asked Questions

Can I hold both SLTY and USOY in my portfolio?

SLTY and USOY have a correlation of 0.14, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, SLTY 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, SLTY or USOY?

USOY is cheaper with a 1.22% expense ratio, compared with 1.24% for SLTY.

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

SLTY has the higher dividend yield at 74.24%, compared with 54.16% for USOY.

What is the main difference between SLTY and USOY?

They also come from different issuers: YieldMax and Defiance. Their fees differ too: 1.24% for SLTY and 1.22% for USOY.