TSLP vs. USOY

Last updated Aug 4, 2026

TSLP (Kurv Yield Premium Strategy Tesla (TSLA) ETF) and USOY (Defiance Oil Enhanced Options Income ETF) are both Derivative Income funds. Both are actively managed. Over the past year, TSLP returned -7.57% vs 35.36% for USOY. Their -0.03 correlation means they have often moved in opposite directions in the past. 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 (TSLA) 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 -33.74% return, which is significantly lower than USOY's 44.25% return.

TSLP

• 1D: 2.15%
• 1M: -20.78%
• 6M: -29.23%
• YTD: -33.74%
• 1Y: -7.57%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 7.40%

USOY

• 1D: -4.63%
• 1M: 12.58%
• 6M: 35.65%
• YTD: 44.25%
• 1Y: 35.36%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 16.63%

*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)
TSLP Kurv Yield Premium Strategy Tesla (TSLA) ETF	$224.56K	$262.54K	$283.37K
USOY Defiance Oil Enhanced Options Income ETF	$3.04M	$3.28M	$3.41M

TSLP vs. USOY - Yearly Performance Comparison

	2026 (YTD)	2025	2024
TSLP Kurv Yield Premium Strategy Tesla (TSLA) ETF	-33.74%	9.77%	88.02%
USOY Defiance Oil Enhanced Options Income ETF	44.25%	-7.93%	6.13%

Correlation

The correlation between TSLP and USOY is -0.16, meaning they have often moved in opposite directions in the past. This relationship can weaken or reverse as market conditions change.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	-0.16
Correlation (All Time) Calculated using the full available price history since May 10, 2024	-0.03

The correlation between TSLP and USOY shifts across timeframes, from -0.16 (1 year) to -0.03 (all time), reflecting how their relationship changes across market environments.

Return for Risk

TSLP vs. USOY — Risk / Return Rank

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

TSLP

TSLP Risk / Return Rank: 9
TSLP Sharpe Ratio Rank: 9
TSLP Sortino Ratio Rank: 10
TSLP Omega Ratio Rank: 10
TSLP Calmar Ratio Rank: 9
TSLP Martin Ratio Rank: 8

USOY

USOY Risk / Return Rank: 39
USOY Sharpe Ratio Rank: 40
USOY Sortino Ratio Rank: 39
USOY Omega Ratio Rank: 42
USOY Calmar Ratio Rank: 39
USOY Martin Ratio Rank: 38

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.

TSLP vs. USOY - Risk-Adjusted Trends Comparison

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

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.

	TSLP	USOY	Difference
Sharpe ratio: Return per unit of total volatility	-0.17	1.01	-1.18
Sortino ratio: Return per unit of downside risk	0.08	1.47	-1.39
Omega ratio: Gain probability vs. loss probability	1.01	1.20	-0.19
Calmar ratio: Return relative to maximum drawdown	-0.18	1.39	-1.57
Martin ratio: Return relative to average drawdown	-0.46	4.10	-4.56

TSLP vs. USOY - Sharpe Ratio Comparison

The current TSLP Sharpe Ratio is -0.17, which is lower than the USOY Sharpe Ratio of 1.01. 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.

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 -25.51%. 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%	-25.51%	-20.49%
Max Drawdown (1Y) Largest decline over 1 year	-42.53%	-25.51%	-17.02%
Current Drawdown Current decline from peak	-38.79%	-15.60%	-23.19%
Average Drawdown Average peak-to-trough decline	-16.29%	-7.18%	-9.11%
Ulcer Index Depth and duration of drawdowns from previous peaks	16.67%	8.65%	+8.02%

Volatility

TSLP vs. USOY - Volatility Comparison

Kurv Yield Premium Strategy Tesla (TSLA) ETF (TSLP) has a higher volatility of 21.72% compared to Defiance Oil Enhanced Options Income ETF (USOY) at 16.26%. 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	21.72%	16.26%	+5.46%
Volatility (6M) Calculated over the trailing 6-month period	37.69%	32.70%	+4.99%
Volatility (1Y) Calculated over the trailing 1-year period	45.54%	35.22%	+10.32%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	50.01%	28.35%	+21.66%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	50.01%	28.35%	+21.66%

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 37.94%, less than USOY's 59.33% yield.

Position	TTM	2025	2024	2023
TSLP Kurv Yield Premium Strategy Tesla (TSLA) ETF	37.94%	31.05%	21.82%	4.39%
USOY Defiance Oil Enhanced Options Income ETF	59.33%	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 -0.16, 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 (21.72%) compared to USOY (16.26%). In terms of maximum drawdown, TSLP dropped -46.00% vs USOY's -25.51%.

Which ETF is better, TSLP or USOY?

On 1-year performance, USOY leads with 35.36% vs -7.57% for TSLP. On fees, TSLP is cheaper at 0.99% per year. On volatility, USOY has been the lower-risk option at 16.26%. 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 35.36% return vs -7.57%. 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 59.33%, compared with 37.94% 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 (1.01 vs -0.17), 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.