TFFI vs. USOY

Last updated Jul 30, 2026

TFFI (Chesapeake Trend-Following Fixed Income ETF) and USOY (Defiance Oil Enhanced Options Income ETF) are both exchange-traded funds - TFFI is a Actively Managed fund actively managed by Chesapeake, while USOY is a Derivative Income fund actively managed by Defiance. Both are actively managed. Their 0.47 correlation means their historical movements had little consistent relationship. TFFI charges 1.01%/yr vs 1.22%/yr for USOY.

Performance

TFFI vs. USOY - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Chesapeake Trend-Following Fixed Income ETF (TFFI) and Defiance Oil Enhanced Options Income ETF (USOY). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

TFFI

• 1D: 0.07%
• 1M: 2.47%
• 6M: —
• YTD: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: —

USOY

• 1D: 7.09%
• 1M: 15.30%
• 6M: 39.74%
• YTD: 51.12%
• 1Y: 40.08%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 19.21%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
TFFI Chesapeake Trend-Following Fixed Income ETF	$53.00K	$107.09K	$129.10K
USOY Defiance Oil Enhanced Options Income ETF	$2.95M	$3.24M	$3.47M

TFFI vs. USOY - Yearly Performance Comparison

	2026 (YTD)
TFFI Chesapeake Trend-Following Fixed Income ETF	0.60%
USOY Defiance Oil Enhanced Options Income ETF	29.68%

Correlation

The correlation between TFFI and USOY is 0.47, which is low. Their historical price movements had little consistent relationship.

	Correlation
Correlation (All Time) Calculated using the full available price history since Feb 24, 2026	0.47

Return for Risk

TFFI vs. USOY — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

TFFI

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

USOY

USOY Risk / Return Rank: 45
USOY Sharpe Ratio Rank: 47
USOY Sortino Ratio Rank: 44
USOY Omega Ratio Rank: 49
USOY Calmar Ratio Rank: 44
USOY Martin Ratio Rank: 42

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

TFFI vs. USOY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Chesapeake Trend-Following Fixed Income ETF (TFFI) 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.

	TFFI	USOY	Difference
Sharpe ratio: Return per unit of total volatility	—	1.15	—
Sortino ratio: Return per unit of downside risk	—	1.62	—
Omega ratio: Gain probability vs. loss probability	—	1.22	—
Calmar ratio: Return relative to maximum drawdown	—	1.58	—
Martin ratio: Return relative to average drawdown	—	4.59	—

Drawdowns

TFFI vs. USOY - Drawdown Comparison

The maximum TFFI drawdown since its inception was -4.23%, smaller than the maximum USOY drawdown of -25.51%. Use the drawdown chart below to compare losses from any high point for TFFI and USOY.

Drawdown Indicators

	TFFI	USOY	Difference
Max Drawdown Largest peak-to-trough decline	-4.23%	-25.51%	+21.28%
Max Drawdown (1Y) Largest decline over 1 year	—	-25.51%	—
Current Drawdown Current decline from peak	-1.52%	-11.58%	+10.06%
Average Drawdown Average peak-to-trough decline	-1.62%	-7.15%	+5.53%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	8.76%	—

Volatility

Volatility by Period

	TFFI	USOY	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	15.68%	—
Volatility (6M) Calculated over the trailing 6-month period	—	32.29%	—
Volatility (1Y) Calculated over the trailing 1-year period	7.75%	34.87%	-27.12%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	7.75%	28.23%	-20.48%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	7.75%	28.23%	-20.48%

TFFI vs. USOY - Expense Ratio Comparison

TFFI has a 1.01% expense ratio, which is lower than USOY's 1.22% expense ratio.

Dividends

TFFI vs. USOY - Dividend Comparison

TFFI has not paid dividends to shareholders, while USOY's dividend yield for the trailing twelve months is around 57.07%.

Position	TTM	2025	2024
TFFI Chesapeake Trend-Following Fixed Income ETF	0.00%	0.00%	0.00%
USOY Defiance Oil Enhanced Options Income ETF	57.07%	104.32%	48.60%

Frequently Asked Questions

Can I hold both TFFI and USOY in my portfolio?

TFFI and USOY have a correlation of 0.47, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, TFFI or USOY?

On fees, TFFI is cheaper at 1.01% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, TFFI or USOY?

TFFI is cheaper with a 1.01% expense ratio, compared with 1.22% for USOY.

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

USOY has the higher dividend yield at 57.07%, compared with 0.00% for TFFI.

What is the main difference between TFFI and USOY?

TFFI is categorized as Actively Managed, while USOY is Derivative Income. They also come from different issuers: Chesapeake and Defiance. Their fees differ too: 1.01% for TFFI and 1.22% for USOY.