USOY vs. XRMI

Last updated Jun 24, 2026

USOY (Defiance Oil Enhanced Options Income ETF) and XRMI (Global X S&P 500 Risk Managed Income ETF) are both Derivative Income funds. USOY is actively managed, while XRMI is passively managed. Over the past year, USOY returned 26.28% vs 9.03% for XRMI. At a correlation of -0.09, they often move in opposite directions. USOY charges 1.22%/yr vs 0.60%/yr for XRMI.

Performance

USOY vs. XRMI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Defiance Oil Enhanced Options Income ETF (USOY) and Global X S&P 500 Risk Managed Income ETF (XRMI). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, USOY achieves a 34.69% return, which is significantly higher than XRMI's 1.66% return.

USOY

• 1D: -1.29%
• 1M: -17.01%
• YTD: 34.69%
• 6M: 34.18%
• 1Y: 26.28%
• 3Y*: —
• 5Y*: —
• 10Y*: —

XRMI

• 1D: -0.52%
• 1M: 0.39%
• YTD: 1.66%
• 6M: 1.20%
• 1Y: 9.03%
• 3Y*: 6.90%
• 5Y*: —
• 10Y*: —

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

USOY vs. XRMI - Yearly Performance Comparison

	2026 (YTD)	2025	2024
USOY Defiance Oil Enhanced Options Income ETF	34.69%	-7.93%	6.13%
XRMI Global X S&P 500 Risk Managed Income ETF	1.66%	4.60%	10.47%

Correlation

The correlation between USOY and XRMI is -0.20, 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	-0.20
Correlation (All Time) Calculated using the full available price history since May 10, 2024	-0.09

The correlation between USOY and XRMI shifts across timeframes, from -0.20 (1 year) to -0.09 (all time), reflecting how their relationship changes across market environments.

Return for Risk

USOY vs. XRMI — Risk / Return Rank

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

USOY

USOY Risk / Return Rank: 26
USOY Sharpe Ratio Rank: 25
USOY Sortino Ratio Rank: 23
USOY Omega Ratio Rank: 26
USOY Calmar Ratio Rank: 27
USOY Martin Ratio Rank: 30

XRMI

XRMI Risk / Return Rank: 48
XRMI Sharpe Ratio Rank: 51
XRMI Sortino Ratio Rank: 50
XRMI Omega Ratio Rank: 54
XRMI Calmar Ratio Rank: 38
XRMI 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.

USOY vs. XRMI - 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 S&P 500 Risk Managed Income ETF (XRMI). 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.

	USOY	XRMI	Difference
Sharpe ratio: Return per unit of total volatility	0.85	1.65	-0.80
Sortino ratio: Return per unit of downside risk	1.24	2.30	-1.06
Omega ratio: Gain probability vs. loss probability	1.18	1.32	-0.14
Calmar ratio: Return relative to maximum drawdown	1.25	1.81	-0.56
Martin ratio: Return relative to average drawdown	4.10	7.28	-3.18

USOY vs. XRMI - Sharpe Ratio Comparison

The current USOY Sharpe Ratio is 0.85, which is lower than the XRMI Sharpe Ratio of 1.65. The chart below compares the historical Sharpe Ratios of USOY and XRMI, 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

USOY vs. XRMI - Drawdown Comparison

The maximum USOY drawdown since its inception was -21.19%, which is greater than XRMI's maximum drawdown of -15.31%. Use the drawdown chart below to compare losses from any high point for USOY and XRMI.

Drawdown Indicators

	USOY	XRMI	Difference
Max Drawdown Largest peak-to-trough decline	-21.19%	-15.31%	-5.88%
Max Drawdown (1Y) Largest decline over 1 year	-21.19%	-5.02%	-16.17%
Max Drawdown (3Y) Largest decline over 3 years	—	-8.34%	—
Current Drawdown Current decline from peak	-21.19%	-0.52%	-20.67%
Average Drawdown Average peak-to-trough decline	-6.63%	-5.87%	-0.76%
Ulcer Index Depth and duration of drawdowns from previous peaks	6.44%	1.24%	+5.20%

Volatility

USOY vs. XRMI - Volatility Comparison

Defiance Oil Enhanced Options Income ETF (USOY) has a higher volatility of 10.34% compared to Global X S&P 500 Risk Managed Income ETF (XRMI) at 1.71%. This indicates that USOY's price experiences larger fluctuations and is considered to be riskier than XRMI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	USOY	XRMI	Difference
Volatility (1M) Calculated over the trailing 1-month period	10.34%	1.71%	+8.63%
Volatility (6M) Calculated over the trailing 6-month period	28.44%	4.44%	+24.00%
Volatility (1Y) Calculated over the trailing 1-year period	31.56%	5.52%	+26.04%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	26.51%	6.91%	+19.60%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	26.51%	6.91%	+19.60%

USOY vs. XRMI - Expense Ratio Comparison

USOY has a 1.22% expense ratio, which is higher than XRMI's 0.60% expense ratio.

Dividends

USOY vs. XRMI - Dividend Comparison

USOY's dividend yield for the trailing twelve months is around 68.29%, more than XRMI's 12.73% yield.

Position	TTM	2025	2024	2023	2022	2021
USOY Defiance Oil Enhanced Options Income ETF	68.29%	104.32%	48.60%	0.00%	0.00%	0.00%
XRMI Global X S&P 500 Risk Managed Income ETF	12.73%	12.35%	11.86%	12.62%	12.84%	2.93%

Frequently Asked Questions

Can I hold both USOY and XRMI in my portfolio?

USOY and XRMI have a correlation of -0.20, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, USOY or XRMI?

USOY has higher volatility (10.34%) compared to XRMI (1.71%). In terms of maximum drawdown, USOY dropped -21.19% vs XRMI's -15.31%.

Which ETF is better, USOY or XRMI?

On 1-year performance, USOY leads with 26.28% vs 9.03% for XRMI. On fees, XRMI is cheaper at 0.60% per year. On volatility, XRMI has been the lower-risk option at 1.71%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, USOY or XRMI?

Over the 1-year period, USOY has performed better with a 26.28% return vs 9.03%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, USOY or XRMI?

XRMI is cheaper with a 0.60% expense ratio, compared with 1.22% for USOY.

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

USOY has the higher dividend yield at 68.29%, compared with 12.73% for XRMI.

What is the main difference between USOY and XRMI?

They also come from different issuers: Defiance and Global X. Their fees differ too: 1.22% for USOY and 0.60% for XRMI.

Which has better risk-adjusted returns?

XRMI currently has the higher Sharpe Ratio (1.65 vs 0.85), 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.