TSLP vs. USOY

Last updated Jun 4, 2026

TSLP (Kurv Yield Premium Strategy Tesla ETF) and USOY (Defiance Oil Enhanced Options Income ETF) are both Derivative Income funds. Both are actively managed. Over the past year, TSLP returned 15.63% vs 57.29% for USOY. At a correlation of -0.02, they often move in opposite directions. TSLP charges 0.99%/yr vs 1.22%/yr for USOY.

Performance

TSLP vs. USOY - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Kurv Yield Premium Strategy Tesla ETF (TSLP) 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, TSLP achieves a -8.72% return, which is significantly lower than USOY's 62.18% return.

TSLP

• 1D: 0.04%
• 1M: 7.73%
• YTD: -8.72%
• 6M: -8.30%
• 1Y: 15.63%
• 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)

TSLP vs. USOY - Yearly Performance Comparison

	2026 (YTD)	2025	2024
TSLP Kurv Yield Premium Strategy Tesla ETF	-8.72%	9.77%	91.44%
USOY Defiance Oil Enhanced Options Income ETF	62.18%	-7.93%	7.27%

Correlation

The correlation between TSLP 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 TSLP 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

TSLP vs. USOY — Risk / Return Rank

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

TSLP

TSLP Risk / Return Rank: 15
TSLP Sharpe Ratio Rank: 14
TSLP Sortino Ratio Rank: 15
TSLP Omega Ratio Rank: 16
TSLP Calmar Ratio Rank: 15
TSLP Martin Ratio Rank: 14

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.

TSLP vs. USOY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Kurv Yield Premium Strategy Tesla ETF (TSLP) 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.

	TSLP	USOY	Difference
Sharpe ratio: Return per unit of total volatility	0.37	1.89	-1.53
Sortino ratio: Return per unit of downside risk	0.76	2.30	-1.54
Omega ratio: Gain probability vs. loss probability	1.10	1.35	-0.25
Calmar ratio: Return relative to maximum drawdown	0.49	4.03	-3.54
Martin ratio: Return relative to average drawdown	1.20	7.74	-6.55
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

TSLP vs. USOY - Sharpe Ratio Comparison

The current TSLP Sharpe Ratio is 0.37, which is lower than the USOY Sharpe Ratio of 1.89. The chart below compares the historical Sharpe Ratios of TSLP 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

	TSLP	USOY	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.37	1.89	-1.53
Sharpe Ratio (All Time) Calculated using the full available price history	0.46	0.99	-0.53

Drawdowns

TSLP vs. USOY - Drawdown Comparison

The maximum TSLP drawdown since its inception was -46.00%, which is greater than USOY's maximum drawdown of -17.46%. Use the drawdown chart below to compare losses from any high point for TSLP and USOY.

Drawdown Indicators

	TSLP	USOY	Difference
Max Drawdown Largest peak-to-trough decline	-46.00%	-17.46%	-28.54%
Max Drawdown (1Y) Largest decline over 1 year	-32.00%	-14.29%	-17.71%
Current Drawdown Current decline from peak	-15.68%	-5.11%	-10.57%
Average Drawdown Average peak-to-trough decline	-15.73%	-6.47%	-9.26%
Ulcer Index Depth and duration of drawdowns from previous peaks	13.16%	7.42%	+5.74%

Volatility

TSLP vs. USOY - Volatility Comparison

Kurv Yield Premium Strategy Tesla ETF (TSLP) has a higher volatility of 12.75% compared to Defiance Oil Enhanced Options Income ETF (USOY) at 11.62%. This indicates that TSLP'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

	TSLP	USOY	Difference
Volatility (1M) Calculated over the trailing 1-month period	12.75%	11.62%	+1.13%
Volatility (6M) Calculated over the trailing 6-month period	28.48%	27.18%	+1.30%
Volatility (1Y) Calculated over the trailing 1-year period	42.87%	30.44%	+12.43%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	48.60%	26.13%	+22.47%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	48.60%	26.13%	+22.47%

TSLP vs. USOY - Expense Ratio Comparison

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

Dividends

TSLP vs. USOY - Dividend Comparison

TSLP's dividend yield for the trailing twelve months is around 30.32%, less than USOY's 54.16% yield.

Position	TTM	2025	2024	2023
TSLP Kurv Yield Premium Strategy Tesla ETF	30.32%	31.05%	21.82%	4.39%
USOY Defiance Oil Enhanced Options Income ETF	54.16%	104.32%	48.60%	0.00%

Frequently Asked Questions

Can I hold both TSLP and USOY in my portfolio?

TSLP 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, TSLP or USOY?

TSLP has higher volatility (12.75%) compared to USOY (11.62%). In terms of maximum drawdown, TSLP dropped -46.00% vs USOY's -17.46%.

Which ETF is better, TSLP or USOY?

On 1-year performance, USOY leads with 57.29% vs 15.63% for TSLP. On fees, TSLP 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, TSLP or USOY?

Over the 1-year period, USOY has performed better with a 57.29% return vs 15.63%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, TSLP or USOY?

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

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

USOY has the higher dividend yield at 54.16%, compared with 30.32% for TSLP.

What is the main difference between TSLP and USOY?

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

Which has better risk-adjusted returns?

USOY currently has the higher Sharpe Ratio (1.89 vs 0.37), 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.