USOY vs. QYLD
USOY (Defiance Oil Enhanced Options Income ETF) and QYLD (Global X NASDAQ 100 Covered Call ETF) are both exchange-traded funds - USOY is a Derivative Income fund actively managed by Defiance, while QYLD is a Nasdaq-100 fund tracking the CBOE NASDAQ-100 Buy Write V2. USOY is actively managed, while QYLD is passively managed. Over the past year, USOY returned 57.29% vs 23.93% for QYLD. At a correlation of -0.07, they often move in opposite directions. USOY charges 1.22%/yr vs 0.60%/yr for QYLD.
Performance
USOY vs. QYLD - Performance Comparison
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Returns By Period
In the year-to-date period, USOY achieves a 62.18% return, which is significantly higher than QYLD's 7.88% return.
USOY
- 1D
- 1.45%
- 1M
- -3.43%
- YTD
- 62.18%
- 6M
- 59.35%
- 1Y
- 57.29%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
QYLD
- 1D
- -0.06%
- 1M
- 1.62%
- YTD
- 7.88%
- 6M
- 9.97%
- 1Y
- 23.93%
- 3Y*
- 13.80%
- 5Y*
- 8.43%
- 10Y*
- 9.80%
USOY vs. QYLD - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
USOY Defiance Oil Enhanced Options Income ETF | 62.18% | -7.93% | 7.27% |
QYLD Global X NASDAQ 100 Covered Call ETF | 7.88% | 9.28% | 12.64% |
Correlation
The correlation between USOY and QYLD is -0.26, 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 | -0.26 |
Correlation (All Time) Calculated using the full available price history since May 13, 2024 | -0.07 |
The correlation between USOY and QYLD shifts across timeframes, from -0.26 (1 year) to -0.07 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
USOY vs. QYLD — Risk / Return Rank
USOY
QYLD
USOY vs. QYLD - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Defiance Oil Enhanced Options Income ETF (USOY) and Global X NASDAQ 100 Covered Call ETF (QYLD). 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.
| USOY | QYLD | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.91 | ||
| Sortino ratioReturn per unit of downside risk | -1.62 | ||
| Omega ratioGain probability vs. loss probability | 1.35 | 1.63 | -0.28 |
| Calmar ratioReturn relative to maximum drawdown | 4.03 | 4.84 | -0.81 |
| Martin ratioReturn relative to average drawdown | 7.74 | 28.36 | -20.62 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| USOY | QYLD | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.89 | 2.80 | -0.91 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | 0.58 | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.63 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.99 | 0.59 | +0.40 |
Drawdowns
USOY vs. QYLD - Drawdown Comparison
The maximum USOY drawdown since its inception was -17.46%, smaller than the maximum QYLD drawdown of -24.75%. Use the drawdown chart below to compare losses from any high point for USOY and QYLD.
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Drawdown Indicators
| USOY | QYLD | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -17.46% | -24.75% | +7.29% |
Max Drawdown (1Y)Largest decline over 1 year | -14.29% | -4.97% | -9.32% |
Max Drawdown (3Y)Largest decline over 3 years | — | -19.06% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -24.61% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -24.75% | — |
Current DrawdownCurrent decline from peak | -5.11% | -0.06% | -5.05% |
Average DrawdownAverage peak-to-trough decline | -6.47% | -3.84% | -2.63% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 7.42% | 0.85% | +6.57% |
Volatility
USOY vs. QYLD - Volatility Comparison
Defiance Oil Enhanced Options Income ETF (USOY) has a higher volatility of 11.62% compared to Global X NASDAQ 100 Covered Call ETF (QYLD) at 1.85%. This indicates that USOY's price experiences larger fluctuations and is considered to be riskier than QYLD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| USOY | QYLD | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 11.62% | 1.85% | +9.77% |
Volatility (6M)Calculated over the trailing 6-month period | 27.18% | 7.12% | +20.06% |
Volatility (1Y)Calculated over the trailing 1-year period | 30.44% | 8.58% | +21.86% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 26.13% | 14.70% | +11.43% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 26.13% | 15.49% | +10.64% |
USOY vs. QYLD - Expense Ratio Comparison
USOY has a 1.22% expense ratio, which is higher than QYLD's 0.60% expense ratio.
Dividends
USOY vs. QYLD - Dividend Comparison
USOY's dividend yield for the trailing twelve months is around 54.16%, more than QYLD's 11.46% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
QYLD Global X NASDAQ 100 Covered Call ETF | 11.46% | 11.55% | 12.50% | 11.78% | 13.75% | 12.85% | 11.16% | 9.84% | 12.44% | 7.69% | 9.15% | 9.42% |
USOY Defiance Oil Enhanced Options Income ETF | 54.16% | 104.32% | 48.60% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
USOY and QYLD have a correlation of -0.26, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
USOY has higher volatility (11.62%) compared to QYLD (1.85%). In terms of maximum drawdown, USOY dropped -17.46% vs QYLD's -24.75%.
On 1-year performance, USOY leads with 57.29% vs 23.93% for QYLD. On fees, QYLD is cheaper at 0.60% per year. On volatility, QYLD has been the lower-risk option at 1.85%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, USOY has performed better with a 57.29% return vs 23.93%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
QYLD is cheaper with a 0.60% expense ratio, compared with 1.22% for USOY.
USOY has the higher dividend yield at 54.16%, compared with 11.46% for QYLD.
USOY is categorized as Derivative Income, while QYLD is Nasdaq-100. They also come from different issuers: Defiance and Global X. Their fees differ too: 1.22% for USOY and 0.60% for QYLD.
QYLD currently has the higher Sharpe Ratio (2.80 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.
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