SOXY vs. USOY

Last updated Jun 4, 2026

SOXY (YieldMax Target 12™ Semiconductor Option Income ETF) and USOY (Defiance Oil Enhanced Options Income ETF) are both Derivative Income funds. Both are actively managed. Over the past year, SOXY returned 154.02% vs 57.29% for USOY. At a correlation of -0.08, they often move in opposite directions. SOXY charges 0.99%/yr vs 1.22%/yr for USOY.

Performance

SOXY vs. USOY - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in YieldMax Target 12™ Semiconductor Option Income ETF (SOXY) 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, SOXY achieves a 89.69% return, which is significantly higher than USOY's 62.18% return.

SOXY

• 1D: 0.87%
• 1M: 31.46%
• YTD: 89.69%
• 6M: 88.39%
• 1Y: 154.02%
• 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)

SOXY vs. USOY - Yearly Performance Comparison

	2026 (YTD)	2025	2024
SOXY YieldMax Target 12™ Semiconductor Option Income ETF	89.69%	37.00%	-1.18%
USOY Defiance Oil Enhanced Options Income ETF	62.18%	-7.93%	4.91%

Correlation

The correlation between SOXY and USOY is -0.20, 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	-0.20
Correlation (All Time) Calculated using the full available price history since Dec 4, 2024	-0.08

The correlation between SOXY and USOY shifts across timeframes, from -0.20 (1 year) to -0.08 (all time), reflecting how their relationship changes across market environments.

Return for Risk

SOXY vs. USOY — Risk / Return Rank

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

SOXY

SOXY Risk / Return Rank: 96
SOXY Sharpe Ratio Rank: 98
SOXY Sortino Ratio Rank: 96
SOXY Omega Ratio Rank: 95
SOXY Calmar Ratio Rank: 97
SOXY Martin Ratio Rank: 97

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.

SOXY vs. USOY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for YieldMax Target 12™ Semiconductor Option Income ETF (SOXY) 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.

	SOXY	USOY	Difference
Sharpe ratio: Return per unit of total volatility	5.32	1.89	+3.42
Sortino ratio: Return per unit of downside risk	5.53	2.30	+3.24
Omega ratio: Gain probability vs. loss probability	1.75	1.35	+0.40
Calmar ratio: Return relative to maximum drawdown	11.33	4.03	+7.30
Martin ratio: Return relative to average drawdown	42.65	7.74	+34.91
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

SOXY vs. USOY - Sharpe Ratio Comparison

The current SOXY Sharpe Ratio is 5.32, which is higher than the USOY Sharpe Ratio of 1.89. The chart below compares the historical Sharpe Ratios of SOXY 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

	SOXY	USOY	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	5.32	1.89	+3.42
Sharpe Ratio (All Time) Calculated using the full available price history	2.57	0.99	+1.58

Drawdowns

SOXY vs. USOY - Drawdown Comparison

The maximum SOXY drawdown since its inception was -30.22%, which is greater than USOY's maximum drawdown of -17.46%. Use the drawdown chart below to compare losses from any high point for SOXY and USOY.

Drawdown Indicators

	SOXY	USOY	Difference
Max Drawdown Largest peak-to-trough decline	-30.22%	-17.46%	-12.76%
Max Drawdown (1Y) Largest decline over 1 year	-13.68%	-14.29%	+0.61%
Current Drawdown Current decline from peak	0.00%	-5.11%	+5.11%
Average Drawdown Average peak-to-trough decline	-4.94%	-6.47%	+1.53%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.63%	7.42%	-3.79%

Volatility

SOXY vs. USOY - Volatility Comparison

YieldMax Target 12™ Semiconductor Option Income ETF (SOXY) has a higher volatility of 12.85% compared to Defiance Oil Enhanced Options Income ETF (USOY) at 11.62%. This indicates that SOXY'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

	SOXY	USOY	Difference
Volatility (1M) Calculated over the trailing 1-month period	12.85%	11.62%	+1.23%
Volatility (6M) Calculated over the trailing 6-month period	24.06%	27.18%	-3.12%
Volatility (1Y) Calculated over the trailing 1-year period	29.20%	30.44%	-1.24%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	34.56%	26.13%	+8.43%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	34.56%	26.13%	+8.43%

SOXY vs. USOY - Expense Ratio Comparison

SOXY has a 0.99% expense ratio, which is lower than USOY's 1.22% expense ratio.

Dividends

SOXY vs. USOY - Dividend Comparison

SOXY's dividend yield for the trailing twelve months is around 7.74%, less than USOY's 54.16% yield.

Position	TTM	2025	2024
SOXY YieldMax Target 12™ Semiconductor Option Income ETF	7.74%	11.47%	0.00%
USOY Defiance Oil Enhanced Options Income ETF	54.16%	104.32%	48.60%

Frequently Asked Questions

Can I hold both SOXY and USOY in my portfolio?

SOXY and USOY have a correlation of -0.20, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, SOXY or USOY?

SOXY has higher volatility (12.85%) compared to USOY (11.62%). In terms of maximum drawdown, SOXY dropped -30.22% vs USOY's -17.46%.

Which ETF is better, SOXY or USOY?

On 1-year performance, SOXY leads with 154.02% vs 57.29% for USOY. On fees, SOXY is cheaper at 0.99% 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, SOXY or USOY?

Over the 1-year period, SOXY has performed better with a 154.02% return vs 57.29%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, SOXY or USOY?

SOXY is cheaper with a 0.99% expense ratio, compared with 1.22% for USOY.

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

USOY has the higher dividend yield at 54.16%, compared with 7.74% for SOXY.

What is the main difference between SOXY and USOY?

They also come from different issuers: YieldMax and Defiance. Their fees differ too: 0.99% for SOXY and 1.22% for USOY.

Which has better risk-adjusted returns?

SOXY currently has the higher Sharpe Ratio (5.32 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.