WISE vs. USOY

Last updated Jun 4, 2026

WISE (Themes Generative Artificial Intelligence ETF) and USOY (Defiance Oil Enhanced Options Income ETF) are both exchange-traded funds - WISE is a Technology Equities fund tracking the Solactive Generative Artificial Intelligence Index - Benchmark TR Gross, while USOY is a Derivative Income fund actively managed by Defiance. WISE is passively managed, while USOY is actively managed. Over the past year, WISE returned 36.46% vs 57.29% for USOY. At a correlation of -0.03, they often move in opposite directions. WISE charges 0.35%/yr vs 1.22%/yr for USOY.

Performance

WISE vs. USOY - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Themes Generative Artificial Intelligence ETF (WISE) 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, WISE achieves a 11.03% return, which is significantly lower than USOY's 62.18% return.

WISE

• 1D: -3.13%
• 1M: 11.81%
• YTD: 11.03%
• 6M: 7.21%
• 1Y: 36.46%
• 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)

WISE vs. USOY - Yearly Performance Comparison

	2026 (YTD)	2025	2024
WISE Themes Generative Artificial Intelligence ETF	11.03%	5.88%	37.53%
USOY Defiance Oil Enhanced Options Income ETF	62.18%	-7.93%	7.27%

Correlation

The correlation between WISE and USOY is -0.21, 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	-0.21
Correlation (All Time) Calculated using the full available price history since May 13, 2024	-0.03

The correlation between WISE and USOY shifts across timeframes, from -0.21 (1 year) to -0.03 (all time), reflecting how their relationship changes across market environments.

Return for Risk

WISE vs. USOY — Risk / Return Rank

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

WISE

WISE Risk / Return Rank: 27
WISE Sharpe Ratio Rank: 31
WISE Sortino Ratio Rank: 30
WISE Omega Ratio Rank: 29
WISE Calmar Ratio Rank: 23
WISE Martin Ratio Rank: 21

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.

WISE vs. USOY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Themes Generative Artificial Intelligence ETF (WISE) 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.

	WISE	USOY	Difference
Sharpe ratio: Return per unit of total volatility	1.14	1.89	-0.76
Sortino ratio: Return per unit of downside risk	1.64	2.30	-0.65
Omega ratio: Gain probability vs. loss probability	1.20	1.35	-0.15
Calmar ratio: Return relative to maximum drawdown	1.07	4.03	-2.95
Martin ratio: Return relative to average drawdown	2.58	7.74	-5.16
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

WISE vs. USOY - Sharpe Ratio Comparison

The current WISE Sharpe Ratio is 1.14, which is lower than the USOY Sharpe Ratio of 1.89. The chart below compares the historical Sharpe Ratios of WISE 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

	WISE	USOY	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.14	1.89	-0.76
Sharpe Ratio (All Time) Calculated using the full available price history	0.78	0.99	-0.21

Drawdowns

WISE vs. USOY - Drawdown Comparison

The maximum WISE drawdown since its inception was -39.15%, which is greater than USOY's maximum drawdown of -17.46%. Use the drawdown chart below to compare losses from any high point for WISE and USOY.

Drawdown Indicators

	WISE	USOY	Difference
Max Drawdown Largest peak-to-trough decline	-39.15%	-17.46%	-21.69%
Max Drawdown (1Y) Largest decline over 1 year	-34.08%	-14.29%	-19.79%
Current Drawdown Current decline from peak	-5.48%	-5.11%	-0.37%
Average Drawdown Average peak-to-trough decline	-11.90%	-6.47%	-5.43%
Ulcer Index Depth and duration of drawdowns from previous peaks	14.15%	7.42%	+6.73%

Volatility

WISE vs. USOY - Volatility Comparison

The current volatility for Themes Generative Artificial Intelligence ETF (WISE) is 10.83%, while Defiance Oil Enhanced Options Income ETF (USOY) has a volatility of 11.62%. This indicates that WISE experiences smaller price fluctuations and is considered to be less risky than USOY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	WISE	USOY	Difference
Volatility (1M) Calculated over the trailing 1-month period	10.83%	11.62%	-0.79%
Volatility (6M) Calculated over the trailing 6-month period	24.11%	27.18%	-3.07%
Volatility (1Y) Calculated over the trailing 1-year period	32.26%	30.44%	+1.82%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	33.55%	26.13%	+7.42%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	33.55%	26.13%	+7.42%

WISE vs. USOY - Expense Ratio Comparison

WISE has a 0.35% expense ratio, which is lower than USOY's 1.22% expense ratio.

Dividends

WISE vs. USOY - Dividend Comparison

WISE's dividend yield for the trailing twelve months is around 3.71%, less than USOY's 54.16% yield.

Position	TTM	2025	2024
USOY Defiance Oil Enhanced Options Income ETF	54.16%	104.32%	48.60%
WISE Themes Generative Artificial Intelligence ETF	3.71%	4.12%	0.00%

Frequently Asked Questions

Can I hold both WISE and USOY in my portfolio?

WISE and USOY have a correlation of -0.21, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, WISE or USOY?

USOY has higher volatility (11.62%) compared to WISE (10.83%). In terms of maximum drawdown, WISE dropped -39.15% vs USOY's -17.46%.

Which ETF is better, WISE or USOY?

On 1-year performance, USOY leads with 57.29% vs 36.46% for WISE. On fees, WISE is cheaper at 0.35% per year. On volatility, WISE has been the lower-risk option at 10.83%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, WISE or USOY?

Over the 1-year period, USOY has performed better with a 57.29% return vs 36.46%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, WISE or USOY?

WISE is cheaper with a 0.35% expense ratio, compared with 1.22% for USOY.

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

USOY has the higher dividend yield at 54.16%, compared with 3.71% for WISE.

What is the main difference between WISE and USOY?

WISE is categorized as Technology Equities, while USOY is Derivative Income. They also come from different issuers: Themes and Defiance. Their fees differ too: 0.35% for WISE and 1.22% for USOY.

Which has better risk-adjusted returns?

USOY currently has the higher Sharpe Ratio (1.89 vs 1.14), 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.