SOUX vs. USOY

Last updated Jul 17, 2026

SOUX (Defiance Daily Target 2X Long SOUN ETF) and USOY (Defiance Oil Enhanced Options Income ETF) are both exchange-traded funds - SOUX is a Leveraged Equities fund managed by Defiance, while USOY is a Derivative Income fund actively managed by Defiance. Over the past year, SOUX returned -89.16% vs 34.40% for USOY. At a correlation of -0.10, they often move in opposite directions. SOUX charges 1.29%/yr vs 1.22%/yr for USOY.

Performance

SOUX vs. USOY - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Defiance Daily Target 2X Long SOUN ETF (SOUX) 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, SOUX achieves a -75.22% return, which is significantly lower than USOY's 42.63% return.

SOUX

• 1D: -5.93%
• 1M: -23.26%
• 6M: -78.86%
• YTD: -75.22%
• 1Y: -89.16%
• 3Y*: —
• 5Y*: —
• 10Y*: —

USOY

• 1D: -1.33%
• 1M: 2.97%
• 6M: 41.81%
• YTD: 42.63%
• 1Y: 34.40%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

SOUX vs. USOY - Yearly Performance Comparison

	2026 (YTD)	2025
SOUX Defiance Daily Target 2X Long SOUN ETF	-75.22%	-41.14%
USOY Defiance Oil Enhanced Options Income ETF	42.63%	-6.24%

Correlation

The correlation between SOUX and USOY is -0.11, 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	-0.11
Correlation (All Time) Calculated using the full available price history since Jun 24, 2025	-0.10

Return for Risk

SOUX vs. USOY — Risk / Return Rank

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

SOUX

SOUX Risk / Return Rank: 3
SOUX Sharpe Ratio Rank: 5
SOUX Sortino Ratio Rank: 3
SOUX Omega Ratio Rank: 4
SOUX Calmar Ratio Rank: 1
SOUX Martin Ratio Rank: 3

USOY

USOY Risk / Return Rank: 34
USOY Sharpe Ratio Rank: 36
USOY Sortino Ratio Rank: 34
USOY Omega Ratio Rank: 37
USOY Calmar Ratio Rank: 32
USOY Martin Ratio Rank: 34

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.

SOUX vs. USOY - Risk-Adjusted Trends Comparison

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

	SOUX	USOY	Difference
Sharpe ratio: Return per unit of total volatility	-0.56	1.07	-1.63
Sortino ratio: Return per unit of downside risk	-1.00	1.51	-2.52
Omega ratio: Gain probability vs. loss probability	0.90	1.21	-0.31
Calmar ratio: Return relative to maximum drawdown	-0.93	1.35	-2.29
Martin ratio: Return relative to average drawdown	-1.21	4.08	-5.29

SOUX vs. USOY - Sharpe Ratio Comparison

The current SOUX Sharpe Ratio is -0.56, which is lower than the USOY Sharpe Ratio of 1.07. The chart below compares the historical Sharpe Ratios of SOUX 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.

Drawdowns

SOUX vs. USOY - Drawdown Comparison

The maximum SOUX drawdown since its inception was -95.67%, which is greater than USOY's maximum drawdown of -25.51%. Use the drawdown chart below to compare losses from any high point for SOUX and USOY.

Drawdown Indicators

	SOUX	USOY	Difference
Max Drawdown Largest peak-to-trough decline	-95.67%	-25.51%	-70.16%
Max Drawdown (1Y) Largest decline over 1 year	-95.67%	-25.51%	-70.16%
Current Drawdown Current decline from peak	-95.63%	-16.55%	-79.08%
Average Drawdown Average peak-to-trough decline	-63.15%	-7.07%	-56.08%
Ulcer Index Depth and duration of drawdowns from previous peaks	73.55%	8.45%	+65.10%

Volatility

SOUX vs. USOY - Volatility Comparison

Defiance Daily Target 2X Long SOUN ETF (SOUX) has a higher volatility of 29.08% compared to Defiance Oil Enhanced Options Income ETF (USOY) at 11.84%. This indicates that SOUX'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

	SOUX	USOY	Difference
Volatility (1M) Calculated over the trailing 1-month period	29.08%	11.84%	+17.24%
Volatility (6M) Calculated over the trailing 6-month period	103.94%	29.92%	+74.02%
Volatility (1Y) Calculated over the trailing 1-year period	158.67%	32.42%	+126.25%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	158.56%	27.06%	+131.50%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	158.56%	27.06%	+131.50%

SOUX vs. USOY - Expense Ratio Comparison

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

Dividends

SOUX vs. USOY - Dividend Comparison

SOUX's dividend yield for the trailing twelve months is around 81.88%, more than USOY's 62.58% yield.

Position	TTM	2025	2024
SOUX Defiance Daily Target 2X Long SOUN ETF	81.88%	20.29%	0.00%
USOY Defiance Oil Enhanced Options Income ETF	62.58%	104.32%	48.60%

Frequently Asked Questions

Can I hold both SOUX and USOY in my portfolio?

SOUX and USOY have a correlation of -0.11, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, SOUX or USOY?

SOUX has higher volatility (29.08%) compared to USOY (11.84%). In terms of maximum drawdown, SOUX dropped -95.67% vs USOY's -25.51%.

Which ETF is better, SOUX or USOY?

On 1-year performance, USOY leads with 34.40% vs -89.16% for SOUX. On fees, USOY is cheaper at 1.22% per year. On volatility, USOY has been the lower-risk option at 11.84%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, SOUX or USOY?

Over the 1-year period, USOY has performed better with a 34.40% return vs -89.16%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, SOUX or USOY?

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

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

SOUX has the higher dividend yield at 81.88%, compared with 62.58% for USOY.

What is the main difference between SOUX and USOY?

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

Which has better risk-adjusted returns?

USOY currently has the higher Sharpe Ratio (1.07 vs -0.56), 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.