VSTL vs. USOY

Last updated Aug 1, 2026

VSTL (Defiance Daily Target 2X Long VST ETF) and USOY (Defiance Oil Enhanced Options Income ETF) are both exchange-traded funds - VSTL is a Leveraged Equities fund actively managed by Defiance, while USOY is a Derivative Income fund actively managed by Defiance. Both are actively managed. Over the past year, VSTL returned -66.54% vs 41.94% for USOY. Their -0.05 correlation means they have often moved in opposite directions in the past. VSTL charges 1.29%/yr vs 1.22%/yr for USOY.

Performance

VSTL vs. USOY - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Defiance Daily Target 2X Long VST ETF (VSTL) 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, VSTL achieves a -35.33% return, which is significantly lower than USOY's 51.25% return.

VSTL

• 1D: -0.06%
• 1M: -6.33%
• 6M: -28.91%
• YTD: -35.33%
• 1Y: -66.54%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: -58.65%

USOY

• 1D: 1.10%
• 1M: 18.05%
• 6M: 38.09%
• YTD: 51.25%
• 1Y: 41.94%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 19.21%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
USOY Defiance Oil Enhanced Options Income ETF	$3.02M	$3.27M	$3.42M
VSTL Defiance Daily Target 2X Long VST ETF	$651.64K	$708.80K	$1.90M

VSTL vs. USOY - Yearly Performance Comparison

	2026 (YTD)	2025
VSTL Defiance Daily Target 2X Long VST ETF	-35.33%	-37.40%
USOY Defiance Oil Enhanced Options Income ETF	51.25%	-5.98%

Correlation

The correlation between VSTL and USOY is -0.06, meaning there was essentially no consistent relationship between their historical price movements. Each responded to its own set of market drivers.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	-0.06
Correlation (All Time) Calculated using the full available price history since Jul 22, 2025	-0.05

Return for Risk

VSTL vs. USOY — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

VSTL

VSTL Risk / Return Rank: 3
VSTL Sharpe Ratio Rank: 4
VSTL Sortino Ratio Rank: 4
VSTL Omega Ratio Rank: 4
VSTL Calmar Ratio Rank: 1
VSTL Martin Ratio Rank: 1

USOY

USOY Risk / Return Rank: 44
USOY Sharpe Ratio Rank: 46
USOY Sortino Ratio Rank: 43
USOY Omega Ratio Rank: 47
USOY Calmar Ratio Rank: 43
USOY Martin Ratio Rank: 41

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

VSTL vs. USOY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Defiance Daily Target 2X Long VST ETF (VSTL) 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.

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.

	VSTL	USOY	Difference
Sharpe ratio: Return per unit of total volatility	-0.69	1.12	-1.81
Sortino ratio: Return per unit of downside risk	-0.87	1.59	-2.46
Omega ratio: Gain probability vs. loss probability	0.90	1.22	-0.32
Calmar ratio: Return relative to maximum drawdown	-0.94	1.53	-2.47
Martin ratio: Return relative to average drawdown	-1.36	4.54	-5.90

VSTL vs. USOY - Sharpe Ratio Comparison

The current VSTL Sharpe Ratio is -0.69, which is lower than the USOY Sharpe Ratio of 1.12. The chart below compares the historical Sharpe Ratios of VSTL and USOY, 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

VSTL vs. USOY - Drawdown Comparison

The maximum VSTL drawdown since its inception was -71.42%, which is greater than USOY's maximum drawdown of -25.51%. Use the drawdown chart below to compare losses from any high point for VSTL and USOY.

Drawdown Indicators

	VSTL	USOY	Difference
Max Drawdown Largest peak-to-trough decline	-71.42%	-25.51%	-45.91%
Max Drawdown (1Y) Largest decline over 1 year	-71.42%	-25.51%	-45.91%
Current Drawdown Current decline from peak	-68.28%	-11.50%	-56.78%
Average Drawdown Average peak-to-trough decline	-43.67%	-7.16%	-36.51%
Ulcer Index Depth and duration of drawdowns from previous peaks	48.96%	8.81%	+40.15%

Volatility

VSTL vs. USOY - Volatility Comparison

Defiance Daily Target 2X Long VST ETF (VSTL) has a higher volatility of 25.95% compared to Defiance Oil Enhanced Options Income ETF (USOY) at 15.28%. This indicates that VSTL's price experiences larger fluctuations and is considered to be riskier than USOY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	VSTL	USOY	Difference
Volatility (1M) Calculated over the trailing 1-month period	25.95%	15.28%	+10.67%
Volatility (6M) Calculated over the trailing 6-month period	68.40%	32.32%	+36.08%
Volatility (1Y) Calculated over the trailing 1-year period	97.01%	34.89%	+62.12%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	97.03%	28.20%	+68.83%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	97.03%	28.20%	+68.83%

VSTL vs. USOY - Expense Ratio Comparison

VSTL has a 1.29% expense ratio, which is higher than USOY's 1.22% expense ratio.

Dividends

VSTL vs. USOY - Dividend Comparison

VSTL has not paid dividends to shareholders, while USOY's dividend yield for the trailing twelve months is around 56.58%.

Position	TTM	2025	2024
USOY Defiance Oil Enhanced Options Income ETF	56.58%	104.32%	48.60%
VSTL Defiance Daily Target 2X Long VST ETF	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both VSTL and USOY in my portfolio?

VSTL and USOY have a correlation of -0.06, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, VSTL or USOY?

VSTL has higher volatility (25.95%) compared to USOY (15.28%). In terms of maximum drawdown, VSTL dropped -71.42% vs USOY's -25.51%.

Which ETF is better, VSTL or USOY?

On 1-year performance, USOY leads with 41.94% vs -66.54% for VSTL. On fees, USOY is cheaper at 1.22% per year. On volatility, USOY has been the lower-risk option at 15.28%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, VSTL or USOY?

Over the 1-year period, USOY has performed better with a 41.94% return vs -66.54%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, VSTL or USOY?

USOY is cheaper with a 1.22% expense ratio, compared with 1.29% for VSTL.

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

USOY has the higher dividend yield at 56.58%, compared with 0.00% for VSTL.

What is the main difference between VSTL and USOY?

VSTL is categorized as Leveraged Equities, while USOY is Derivative Income. Their fees differ too: 1.29% for VSTL and 1.22% for USOY.

Which has better risk-adjusted returns?

USOY currently has the higher Sharpe Ratio (1.12 vs -0.69), 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.