VGHY vs. USOY

Last updated Jun 4, 2026

VGHY (Vanguard High-Yield Active ETF) and USOY (Defiance Oil Enhanced Options Income ETF) are both exchange-traded funds - VGHY is a High Yield Bonds fund actively managed by Vanguard, while USOY is a Derivative Income fund actively managed by Defiance. Both are actively managed. At a correlation of -0.22, they often move in opposite directions. VGHY charges 0.22%/yr vs 1.22%/yr for USOY.

Performance

VGHY vs. USOY - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Vanguard High-Yield Active ETF (VGHY) 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, VGHY achieves a 1.38% return, which is significantly lower than USOY's 62.18% return.

VGHY

• 1D: -0.24%
• 1M: 0.28%
• YTD: 1.38%
• 6M: 2.00%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

USOY

• 1D: 1.45%
• 1M: -3.43%
• YTD: 62.18%
• 6M: 59.35%
• 1Y: 57.29%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

VGHY vs. USOY - Yearly Performance Comparison

	2026 (YTD)	2025
VGHY Vanguard High-Yield Active ETF	1.38%	1.80%
USOY Defiance Oil Enhanced Options Income ETF	62.18%	-5.76%

Correlation

The correlation between VGHY and USOY is -0.22, 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 (All Time) Calculated using the full available price history since Sep 18, 2025	-0.22

Return for Risk

VGHY vs. USOY — Risk / Return Rank

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

USOY

USOY Risk / Return Rank: 56
USOY Sharpe Ratio Rank: 55
USOY Sortino Ratio Rank: 46
USOY Omega Ratio Rank: 55
USOY Calmar Ratio Rank: 78
USOY 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.

VGHY vs. USOY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Vanguard High-Yield Active ETF (VGHY) 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.

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

Sharpe Ratios by Period

	VGHY	USOY	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	1.89	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.07	0.99	+0.08

Drawdowns

VGHY vs. USOY - Drawdown Comparison

The maximum VGHY drawdown since its inception was -2.66%, smaller than the maximum USOY drawdown of -17.46%. Use the drawdown chart below to compare losses from any high point for VGHY and USOY.

Drawdown Indicators

	VGHY	USOY	Difference
Max Drawdown Largest peak-to-trough decline	-2.66%	-17.46%	+14.80%
Max Drawdown (1Y) Largest decline over 1 year	—	-14.29%	—
Current Drawdown Current decline from peak	-0.30%	-5.11%	+4.81%
Average Drawdown Average peak-to-trough decline	-0.45%	-6.47%	+6.02%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	7.42%	—

Volatility

Volatility by Period

	VGHY	USOY	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	11.62%	—
Volatility (6M) Calculated over the trailing 6-month period	—	27.18%	—
Volatility (1Y) Calculated over the trailing 1-year period	4.30%	30.44%	-26.14%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	4.30%	26.13%	-21.83%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	4.30%	26.13%	-21.83%

VGHY vs. USOY - Expense Ratio Comparison

VGHY has a 0.22% expense ratio, which is lower than USOY's 1.22% expense ratio.

Dividends

VGHY vs. USOY - Dividend Comparison

VGHY's dividend yield for the trailing twelve months is around 3.98%, less than USOY's 54.16% yield.

Position	TTM	2025	2024
USOY Defiance Oil Enhanced Options Income ETF	54.16%	104.32%	48.60%
VGHY Vanguard High-Yield Active ETF	3.98%	1.49%	0.00%

Frequently Asked Questions

Can I hold both VGHY and USOY in my portfolio?

VGHY and USOY have a correlation of -0.22, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, VGHY or USOY?

On fees, VGHY is cheaper at 0.22% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, VGHY or USOY?

VGHY is cheaper with a 0.22% expense ratio, compared with 1.22% for USOY.

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

USOY has the higher dividend yield at 54.16%, compared with 3.98% for VGHY.

What is the main difference between VGHY and USOY?

VGHY is categorized as High Yield Bonds, while USOY is Derivative Income. They also come from different issuers: Vanguard and Defiance. Their fees differ too: 0.22% for VGHY and 1.22% for USOY.