UWM vs. USOY
UWM (ProShares Ultra Russell2000) and USOY (Defiance Oil Enhanced Options Income ETF) are both exchange-traded funds - UWM is a Leveraged Equities fund tracking the Russell 2000 Index (200%), while USOY is a Derivative Income fund actively managed by Defiance. UWM is passively managed, while USOY is actively managed. Over the past year, UWM returned 76.77% vs 57.29% for USOY. At a correlation of -0.05, they often move in opposite directions. UWM charges 0.95%/yr vs 1.22%/yr for USOY.
Performance
UWM vs. USOY - Performance Comparison
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Returns By Period
In the year-to-date period, UWM achieves a 31.87% return, which is significantly lower than USOY's 62.18% return.
UWM
- 1D
- -2.69%
- 1M
- 6.41%
- YTD
- 31.87%
- 6M
- 28.56%
- 1Y
- 76.77%
- 3Y*
- 25.03%
- 5Y*
- 1.71%
- 10Y*
- 12.16%
USOY
- 1D
- 1.45%
- 1M
- -3.43%
- YTD
- 62.18%
- 6M
- 59.35%
- 1Y
- 57.29%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
UWM vs. USOY - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
UWM ProShares Ultra Russell2000 | 31.87% | 13.59% | 11.11% |
USOY Defiance Oil Enhanced Options Income ETF | 62.18% | -7.93% | 7.27% |
Correlation
The correlation between UWM and USOY is -0.25, 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 | -0.25 |
Correlation (All Time) Calculated using the full available price history since May 13, 2024 | -0.05 |
The correlation between UWM and USOY shifts across timeframes, from -0.25 (1 year) to -0.05 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
UWM vs. USOY — Risk / Return Rank
UWM
USOY
UWM vs. USOY - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ProShares Ultra Russell2000 (UWM) 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.
| UWM | USOY | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.14 | ||
| Sortino ratioReturn per unit of downside risk | +0.33 | ||
| Omega ratioGain probability vs. loss probability | 1.31 | 1.35 | -0.04 |
| Calmar ratioReturn relative to maximum drawdown | 3.46 | 4.03 | -0.57 |
| Martin ratioReturn relative to average drawdown | 11.85 | 7.74 | +4.11 |
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
| UWM | USOY | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.03 | 1.89 | +0.14 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.04 | — | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.26 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.14 | 0.99 | -0.85 |
Drawdowns
UWM vs. USOY - Drawdown Comparison
The maximum UWM drawdown since its inception was -88.21%, which is greater than USOY's maximum drawdown of -17.46%. Use the drawdown chart below to compare losses from any high point for UWM and USOY.
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Drawdown Indicators
| UWM | USOY | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -88.21% | -17.46% | -70.75% |
Max Drawdown (1Y)Largest decline over 1 year | -22.28% | -14.29% | -7.99% |
Max Drawdown (3Y)Largest decline over 3 years | -49.79% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -61.62% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -71.46% | — | — |
Current DrawdownCurrent decline from peak | -3.55% | -5.11% | +1.56% |
Average DrawdownAverage peak-to-trough decline | -30.88% | -6.47% | -24.41% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 6.50% | 7.42% | -0.92% |
Volatility
UWM vs. USOY - Volatility Comparison
ProShares Ultra Russell2000 (UWM) and Defiance Oil Enhanced Options Income ETF (USOY) have volatilities of 11.45% and 11.62%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| UWM | USOY | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 11.45% | 11.62% | -0.17% |
Volatility (6M)Calculated over the trailing 6-month period | 26.82% | 27.18% | -0.36% |
Volatility (1Y)Calculated over the trailing 1-year period | 38.04% | 30.44% | +7.60% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 45.01% | 26.13% | +18.88% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 46.08% | 26.13% | +19.95% |
UWM vs. USOY - Expense Ratio Comparison
UWM has a 0.95% expense ratio, which is lower than USOY's 1.22% expense ratio.
Dividends
UWM vs. USOY - Dividend Comparison
UWM's dividend yield for the trailing twelve months is around 0.78%, less than USOY's 54.16% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
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% |
UWM ProShares Ultra Russell2000 | 0.78% | 1.05% | 1.16% | 0.34% | 0.40% | 0.00% | 0.07% | 0.55% | 0.41% | 0.11% | 0.27% | 0.23% |
Frequently Asked Questions
UWM and USOY have a correlation of -0.25, 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 UWM (11.45%). In terms of maximum drawdown, UWM dropped -88.21% vs USOY's -17.46%.
On 1-year performance, UWM leads with 76.77% vs 57.29% for USOY. On fees, UWM is cheaper at 0.95% per year. On volatility, UWM has been the lower-risk option at 11.45%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, UWM has performed better with a 76.77% return vs 57.29%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
UWM is cheaper with a 0.95% expense ratio, compared with 1.22% for USOY.
USOY has the higher dividend yield at 54.16%, compared with 0.78% for UWM.
UWM is categorized as Leveraged Equities, while USOY is Derivative Income. They also come from different issuers: ProShares and Defiance. Their fees differ too: 0.95% for UWM and 1.22% for USOY.
UWM currently has the higher Sharpe Ratio (2.03 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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