XBTY vs. USOY

Last updated Jun 4, 2026

XBTY (GraniteShares YieldBOOST Bitcoin ETF) and USOY (Defiance Oil Enhanced Options Income ETF) are both Derivative Income funds. Both are actively managed. Over the past year, XBTY returned -36.52% vs 57.29% for USOY. At a correlation of -0.05, they often move in opposite directions. XBTY charges 0.99%/yr vs 1.22%/yr for USOY.

Performance

XBTY vs. USOY - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in GraniteShares YieldBOOST Bitcoin ETF (XBTY) 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, XBTY achieves a -19.49% return, which is significantly lower than USOY's 62.18% return.

XBTY

• 1D: -0.41%
• 1M: -8.39%
• YTD: -19.49%
• 6M: -20.52%
• 1Y: -36.52%
• 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)

XBTY vs. USOY - Yearly Performance Comparison

	2026 (YTD)	2025
XBTY GraniteShares YieldBOOST Bitcoin ETF	-19.49%	-21.15%
USOY Defiance Oil Enhanced Options Income ETF	62.18%	0.13%

Correlation

The correlation between XBTY and USOY is -0.05, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	-0.05
Correlation (All Time) Calculated using the full available price history since May 14, 2025	-0.05

Return for Risk

XBTY vs. USOY — Risk / Return Rank

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

XBTY

XBTY Risk / Return Rank: 1
XBTY Sharpe Ratio Rank: 0
XBTY Sortino Ratio Rank: 1
XBTY Omega Ratio Rank: 1
XBTY Calmar Ratio Rank: 2
XBTY Martin Ratio Rank: 3

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.

XBTY vs. USOY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for GraniteShares YieldBOOST Bitcoin ETF (XBTY) 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.

	XBTY	USOY	Difference
Sharpe ratio Return per unit of total volatility	-1.29	1.89	-3.19
Sortino ratio Return per unit of downside risk	-1.87	2.30	-4.16
Omega ratio Gain probability vs. loss probability	0.78	1.35	-0.57
Calmar ratio Return relative to maximum drawdown	-0.81	4.03	-4.83
Martin ratio Return relative to average drawdown	-1.24	7.74	-8.98
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

XBTY vs. USOY - Sharpe Ratio Comparison

The current XBTY Sharpe Ratio is -1.29, which is lower than the USOY Sharpe Ratio of 1.89. The chart below compares the historical Sharpe Ratios of XBTY 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

	XBTY	USOY	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-1.29	1.89	-3.19
Sharpe Ratio (All Time) Calculated using the full available price history	-1.26	0.99	-2.25

Drawdowns

XBTY vs. USOY - Drawdown Comparison

The maximum XBTY drawdown since its inception was -45.46%, which is greater than USOY's maximum drawdown of -17.46%. Use the drawdown chart below to compare losses from any high point for XBTY and USOY.

Drawdown Indicators

	XBTY	USOY	Difference
Max Drawdown Largest peak-to-trough decline	-45.46%	-17.46%	-28.00%
Max Drawdown (1Y) Largest decline over 1 year	-45.46%	-14.29%	-31.17%
Current Drawdown Current decline from peak	-45.46%	-5.11%	-40.35%
Average Drawdown Average peak-to-trough decline	-23.04%	-6.47%	-16.57%
Ulcer Index Depth and duration of drawdowns from previous peaks	29.49%	7.42%	+22.07%

Volatility

XBTY vs. USOY - Volatility Comparison

The current volatility for GraniteShares YieldBOOST Bitcoin ETF (XBTY) is 5.46%, while Defiance Oil Enhanced Options Income ETF (USOY) has a volatility of 11.62%. This indicates that XBTY 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

	XBTY	USOY	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.46%	11.62%	-6.16%
Volatility (6M) Calculated over the trailing 6-month period	17.11%	27.18%	-10.07%
Volatility (1Y) Calculated over the trailing 1-year period	28.34%	30.44%	-2.10%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	27.95%	26.13%	+1.82%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	27.95%	26.13%	+1.82%

XBTY vs. USOY - Expense Ratio Comparison

XBTY has a 0.99% expense ratio, which is lower than USOY's 1.22% expense ratio.

Dividends

XBTY vs. USOY - Dividend Comparison

XBTY's dividend yield for the trailing twelve months is around 240.87%, more than USOY's 54.16% yield.

Position	TTM	2025	2024
USOY Defiance Oil Enhanced Options Income ETF	54.16%	104.32%	48.60%
XBTY GraniteShares YieldBOOST Bitcoin ETF	240.87%	102.53%	0.00%

Frequently Asked Questions

Can I hold both XBTY and USOY in my portfolio?

XBTY and USOY have a correlation of -0.05, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, XBTY or USOY?

USOY has higher volatility (11.62%) compared to XBTY (5.46%). In terms of maximum drawdown, XBTY dropped -45.46% vs USOY's -17.46%.

Which ETF is better, XBTY or USOY?

On 1-year performance, USOY leads with 57.29% vs -36.52% for XBTY. On fees, XBTY is cheaper at 0.99% per year. On volatility, XBTY has been the lower-risk option at 5.46%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, XBTY or USOY?

Over the 1-year period, USOY has performed better with a 57.29% return vs -36.52%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, XBTY or USOY?

XBTY is cheaper with a 0.99% expense ratio, compared with 1.22% for USOY.

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

XBTY has the higher dividend yield at 240.87%, compared with 54.16% for USOY.

What is the main difference between XBTY and USOY?

They also come from different issuers: GraniteShares and Defiance. Their fees differ too: 0.99% for XBTY and 1.22% for USOY.

Which has better risk-adjusted returns?

USOY currently has the higher Sharpe Ratio (1.89 vs -1.29), 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.