USOY vs. XMAG

Last updated Apr 1, 2026

Compare and contrast key facts about Defiance Oil Enhanced Options Income ETF (USOY) and Defiance Large Cap ex-Mag 7 ETF (XMAG).

USOY and XMAG are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. USOY is an actively managed fund by Defiance. It was launched on May 9, 2024. XMAG is a passively managed fund by Defiance that tracks the performance of the BITA US 500 ex Magnificent 7 Index. It was launched on Oct 21, 2024.

Performance

USOY vs. XMAG - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Defiance Oil Enhanced Options Income ETF (USOY) and Defiance Large Cap ex-Mag 7 ETF (XMAG). The values are adjusted to include any dividend payments, if applicable.

USOY vs. XMAG - Yearly Performance Comparison

	2026 (YTD)	2025	2024
USOY Defiance Oil Enhanced Options Income ETF	60.22%	-7.93%	9.96%
XMAG Defiance Large Cap ex-Mag 7 ETF	-1.56%	15.63%	-1.67%

Returns By Period

In the year-to-date period, USOY achieves a 60.22% return, which is significantly higher than XMAG's -1.56% return.

USOY

• 1D: -0.54%
• 1M: 34.04%
• YTD: 60.22%
• 6M: 55.39%
• 1Y: 44.25%
• 3Y*: —
• 5Y*: —
• 10Y*: —

XMAG

• 1D: 2.57%
• 1M: -4.91%
• YTD: -1.56%
• 6M: 0.82%
• 1Y: 13.36%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

USOY vs. XMAG - Expense Ratio Comparison

USOY has a 1.22% expense ratio, which is higher than XMAG's 0.35% expense ratio.

USOY

Defiance Oil Enhanced Options Income ETF

XMAG

Defiance Large Cap ex-Mag 7 ETF

Return for Risk

USOY vs. XMAG — Risk / Return Rank

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

USOY

USOY Risk / Return Rank: 80
USOY Sharpe Ratio Rank: 87
USOY Sortino Ratio Rank: 84
USOY Omega Ratio Rank: 83
USOY Calmar Ratio Rank: 89
USOY Martin Ratio Rank: 58

XMAG

XMAG Risk / Return Rank: 54
XMAG Sharpe Ratio Rank: 48
XMAG Sortino Ratio Rank: 49
XMAG Omega Ratio Rank: 51
XMAG Calmar Ratio Rank: 55
XMAG Martin Ratio Rank: 67

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.

USOY vs. XMAG - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Defiance Oil Enhanced Options Income ETF (USOY) and Defiance Large Cap ex-Mag 7 ETF (XMAG). 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	XMAG	Difference
Sharpe ratio Return per unit of total volatility	1.75	0.82	+0.93
Sortino ratio Return per unit of downside risk	2.20	1.25	+0.95
Omega ratio Gain probability vs. loss probability	1.32	1.18	+0.13
Calmar ratio Return relative to maximum drawdown	2.91	1.29	+1.62
Martin ratio Return relative to average drawdown	5.47	6.26	-0.79
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

USOY vs. XMAG - Sharpe Ratio Comparison

The current USOY Sharpe Ratio is 1.75, which is higher than the XMAG Sharpe Ratio of 0.82. The chart below compares the historical Sharpe Ratios of USOY and XMAG, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	USOY	XMAG	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.75	0.82	+0.93
Sharpe Ratio (All Time) Calculated using the full available price history	1.24	0.53	+0.71

Correlation

The correlation between USOY and XMAG is -0.04. This indicates that the assets' prices tend to move in opposite directions. Negative correlation can be particularly beneficial for diversification and risk management, as one asset may offset the losses of the other during market fluctuations.

Dividends

USOY vs. XMAG - Dividend Comparison

USOY's dividend yield for the trailing twelve months is around 64.71%, more than XMAG's 0.52% yield.

	TTM	2025	2024
USOY Defiance Oil Enhanced Options Income ETF	64.71%	104.32%	48.60%
XMAG Defiance Large Cap ex-Mag 7 ETF	0.52%	0.51%	0.24%

Drawdowns

USOY vs. XMAG - Drawdown Comparison

The maximum USOY drawdown since its inception was -17.46%, which is greater than XMAG's maximum drawdown of -16.17%. Use the drawdown chart below to compare losses from any high point for USOY and XMAG.

Drawdown Indicators

	USOY	XMAG	Difference
Max Drawdown Largest peak-to-trough decline	-17.46%	-16.17%	-1.29%
Max Drawdown (1Y) Largest decline over 1 year	-15.70%	-11.21%	-4.49%
Current Drawdown Current decline from peak	-0.54%	-4.91%	+4.37%
Average Drawdown Average peak-to-trough decline	-6.56%	-2.30%	-4.26%
Ulcer Index Depth and duration of drawdowns from previous peaks	8.34%	2.31%	+6.03%

Volatility

USOY vs. XMAG - Volatility Comparison

Defiance Oil Enhanced Options Income ETF (USOY) has a higher volatility of 11.94% compared to Defiance Large Cap ex-Mag 7 ETF (XMAG) at 4.64%. This indicates that USOY's price experiences larger fluctuations and is considered to be riskier than XMAG based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	USOY	XMAG	Difference
Volatility (1M) Calculated over the trailing 1-month period	11.94%	4.64%	+7.30%
Volatility (6M) Calculated over the trailing 6-month period	18.38%	8.70%	+9.68%
Volatility (1Y) Calculated over the trailing 1-year period	25.35%	16.35%	+9.00%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	22.37%	15.48%	+6.89%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	22.37%	15.48%	+6.89%