WANT vs. USOY

Last updated Jun 4, 2026

WANT (Direxion Daily Consumer Discretionary Bull 3X Shares) and USOY (Defiance Oil Enhanced Options Income ETF) are both exchange-traded funds - WANT is a Leveraged Equities fund tracking the S&P Consumer Discretionary Select Sector Index (-300%), while USOY is a Derivative Income fund actively managed by Defiance. WANT is passively managed, while USOY is actively managed. Over the past year, WANT returned 6.37% vs 57.29% for USOY. At a correlation of -0.11, they often move in opposite directions. WANT charges 0.98%/yr vs 1.22%/yr for USOY.

Performance

WANT vs. USOY - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Direxion Daily Consumer Discretionary Bull 3X Shares (WANT) 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, WANT achieves a -14.08% return, which is significantly lower than USOY's 62.18% return.

WANT

• 1D: -2.18%
• 1M: -3.95%
• YTD: -14.08%
• 6M: -14.66%
• 1Y: 6.37%
• 3Y*: 19.16%
• 5Y*: -5.36%
• 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)

WANT vs. USOY - Yearly Performance Comparison

	2026 (YTD)	2025	2024
WANT Direxion Daily Consumer Discretionary Bull 3X Shares	-14.08%	-6.94%	74.17%
USOY Defiance Oil Enhanced Options Income ETF	62.18%	-7.93%	7.27%

Correlation

The correlation between WANT and USOY is -0.30, 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	-0.30
Correlation (All Time) Calculated using the full available price history since May 13, 2024	-0.11

The correlation between WANT and USOY shifts across timeframes, from -0.30 (1 year) to -0.11 (all time), reflecting how their relationship changes across market environments.

Return for Risk

WANT vs. USOY — Risk / Return Rank

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

WANT

WANT Risk / Return Rank: 11
WANT Sharpe Ratio Rank: 10
WANT Sortino Ratio Rank: 13
WANT Omega Ratio Rank: 12
WANT Calmar Ratio Rank: 10
WANT Martin Ratio Rank: 11

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.

WANT vs. USOY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Direxion Daily Consumer Discretionary Bull 3X Shares (WANT) 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.

	WANT	USOY	Difference
Sharpe ratio: Return per unit of total volatility	0.12	1.89	-1.77
Sortino ratio: Return per unit of downside risk	0.55	2.30	-1.75
Omega ratio: Gain probability vs. loss probability	1.06	1.35	-0.28
Calmar ratio: Return relative to maximum drawdown	0.16	4.03	-3.87
Martin ratio: Return relative to average drawdown	0.42	7.74	-7.32
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

WANT vs. USOY - Sharpe Ratio Comparison

The current WANT Sharpe Ratio is 0.12, which is lower than the USOY Sharpe Ratio of 1.89. The chart below compares the historical Sharpe Ratios of WANT 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.

Sharpe Ratios by Period

	WANT	USOY	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.12	1.89	-1.77
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.08	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.11	0.99	-0.88

Drawdowns

WANT vs. USOY - Drawdown Comparison

The maximum WANT drawdown since its inception was -85.89%, which is greater than USOY's maximum drawdown of -17.46%. Use the drawdown chart below to compare losses from any high point for WANT and USOY.

Drawdown Indicators

	WANT	USOY	Difference
Max Drawdown Largest peak-to-trough decline	-85.89%	-17.46%	-68.43%
Max Drawdown (1Y) Largest decline over 1 year	-41.27%	-14.29%	-26.98%
Max Drawdown (3Y) Largest decline over 3 years	-63.53%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-85.89%	—	—
Current Drawdown Current decline from peak	-58.58%	-5.11%	-53.47%
Average Drawdown Average peak-to-trough decline	-43.07%	-6.47%	-36.60%
Ulcer Index Depth and duration of drawdowns from previous peaks	15.11%	7.42%	+7.69%

Volatility

WANT vs. USOY - Volatility Comparison

Direxion Daily Consumer Discretionary Bull 3X Shares (WANT) has a higher volatility of 15.45% compared to Defiance Oil Enhanced Options Income ETF (USOY) at 11.62%. This indicates that WANT'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

	WANT	USOY	Difference
Volatility (1M) Calculated over the trailing 1-month period	15.45%	11.62%	+3.83%
Volatility (6M) Calculated over the trailing 6-month period	38.86%	27.18%	+11.68%
Volatility (1Y) Calculated over the trailing 1-year period	53.92%	30.44%	+23.48%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	70.65%	26.13%	+44.52%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	71.50%	26.13%	+45.37%

WANT vs. USOY - Expense Ratio Comparison

WANT has a 0.98% expense ratio, which is lower than USOY's 1.22% expense ratio.

Dividends

WANT vs. USOY - Dividend Comparison

WANT's dividend yield for the trailing twelve months is around 0.62%, less than USOY's 54.16% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019
USOY Defiance Oil Enhanced Options Income ETF	54.16%	104.32%	48.60%	0.00%	0.00%	0.00%	0.00%	0.00%
WANT Direxion Daily Consumer Discretionary Bull 3X Shares	0.62%	0.65%	0.61%	0.46%	0.00%	0.00%	0.07%	0.64%

Frequently Asked Questions

Can I hold both WANT and USOY in my portfolio?

WANT and USOY have a correlation of -0.30, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, WANT or USOY?

WANT has higher volatility (15.45%) compared to USOY (11.62%). In terms of maximum drawdown, WANT dropped -85.89% vs USOY's -17.46%.

Which ETF is better, WANT or USOY?

On 1-year performance, USOY leads with 57.29% vs 6.37% for WANT. On fees, WANT is cheaper at 0.98% per year. On volatility, USOY has been the lower-risk option at 11.62%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, WANT or USOY?

Over the 1-year period, USOY has performed better with a 57.29% return vs 6.37%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, WANT or USOY?

WANT is cheaper with a 0.98% expense ratio, compared with 1.22% for USOY.

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

USOY has the higher dividend yield at 54.16%, compared with 0.62% for WANT.

What is the main difference between WANT and USOY?

WANT is categorized as Leveraged Equities, while USOY is Derivative Income. They also come from different issuers: Direxion and Defiance. Their fees differ too: 0.98% for WANT and 1.22% for USOY.

Which has better risk-adjusted returns?

USOY currently has the higher Sharpe Ratio (1.89 vs 0.12), 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.