XDTE vs. USOY

Last updated Apr 2, 2026

Compare and contrast key facts about Roundhill S&P 500 0DTE Covered Call Strategy ETF (XDTE) and Defiance Oil Enhanced Options Income ETF (USOY).

XDTE and USOY are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. XDTE is an actively managed fund by Roundhill. It was launched on Mar 7, 2024. USOY is an actively managed fund by Defiance. It was launched on May 9, 2024.

Performance

XDTE vs. USOY - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Roundhill S&P 500 0DTE Covered Call Strategy ETF (XDTE) and Defiance Oil Enhanced Options Income ETF (USOY). The values are adjusted to include any dividend payments, if applicable.

XDTE vs. USOY - Yearly Performance Comparison

	2026 (YTD)	2025	2024
XDTE Roundhill S&P 500 0DTE Covered Call Strategy ETF	-2.43%	12.60%	14.66%
USOY Defiance Oil Enhanced Options Income ETF	59.52%	-7.93%	7.27%

Returns By Period

In the year-to-date period, XDTE achieves a -2.43% return, which is significantly lower than USOY's 59.52% return.

XDTE

• 1D: 1.03%
• 1M: -4.05%
• YTD: -2.43%
• 6M: 0.99%
• 1Y: 13.86%
• 3Y*: —
• 5Y*: —
• 10Y*: —

USOY

• 1D: -0.43%
• 1M: 30.11%
• YTD: 59.52%
• 6M: 55.51%
• 1Y: 43.21%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

XDTE vs. USOY - Expense Ratio Comparison

XDTE has a 0.97% expense ratio, which is lower than USOY's 1.22% expense ratio.

USOY

Defiance Oil Enhanced Options Income ETF

XDTE

Roundhill S&P 500 0DTE Covered Call Strategy ETF

Return for Risk

XDTE vs. USOY — Risk / Return Rank

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

XDTE

XDTE Risk / Return Rank: 45
XDTE Sharpe Ratio Rank: 48
XDTE Sortino Ratio Rank: 41
XDTE Omega Ratio Rank: 48
XDTE Calmar Ratio Rank: 41
XDTE Martin Ratio Rank: 46

USOY

USOY Risk / Return Rank: 76
USOY Sharpe Ratio Rank: 84
USOY Sortino Ratio Rank: 81
USOY Omega Ratio Rank: 78
USOY Calmar Ratio Rank: 86
USOY Martin Ratio Rank: 52

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.

XDTE vs. USOY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Roundhill S&P 500 0DTE Covered Call Strategy ETF (XDTE) 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.

	XDTE	USOY	Difference
Sharpe ratio Return per unit of total volatility	0.90	1.71	-0.81
Sortino ratio Return per unit of downside risk	1.21	2.16	-0.95
Omega ratio Gain probability vs. loss probability	1.19	1.31	-0.12
Calmar ratio Return relative to maximum drawdown	1.12	2.78	-1.66
Martin ratio Return relative to average drawdown	4.60	5.23	-0.63
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

XDTE vs. USOY - Sharpe Ratio Comparison

The current XDTE Sharpe Ratio is 0.90, which is lower than the USOY Sharpe Ratio of 1.71. The chart below compares the historical Sharpe Ratios of XDTE and USOY, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	XDTE	USOY	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.90	1.71	-0.81
Sharpe Ratio (All Time) Calculated using the full available price history	0.90	1.23	-0.32

Correlation

The correlation between XDTE and USOY is -0.03. This indicates that the assets' prices tend to move in opposite directions. Negative correlation can be particularly beneficial for diversification and risk management, as one asset may offset the losses of the other during market fluctuations.

Dividends

XDTE vs. USOY - Dividend Comparison

XDTE's dividend yield for the trailing twelve months is around 38.73%, less than USOY's 56.23% yield.

	TTM	2025	2024
XDTE Roundhill S&P 500 0DTE Covered Call Strategy ETF	38.73%	39.16%	20.35%
USOY Defiance Oil Enhanced Options Income ETF	56.23%	104.32%	48.60%

Drawdowns

XDTE vs. USOY - Drawdown Comparison

The maximum XDTE drawdown since its inception was -19.09%, which is greater than USOY's maximum drawdown of -17.46%. Use the drawdown chart below to compare losses from any high point for XDTE and USOY.

Drawdown Indicators

	XDTE	USOY	Difference
Max Drawdown Largest peak-to-trough decline	-19.09%	-17.46%	-1.63%
Max Drawdown (1Y) Largest decline over 1 year	-12.87%	-15.70%	+2.83%
Current Drawdown Current decline from peak	-4.87%	-0.97%	-3.90%
Average Drawdown Average peak-to-trough decline	-2.44%	-6.55%	+4.11%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.14%	8.34%	-5.20%

Volatility

XDTE vs. USOY - Volatility Comparison

The current volatility for Roundhill S&P 500 0DTE Covered Call Strategy ETF (XDTE) is 4.77%, while Defiance Oil Enhanced Options Income ETF (USOY) has a volatility of 12.05%. This indicates that XDTE 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

	XDTE	USOY	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.77%	12.05%	-7.28%
Volatility (6M) Calculated over the trailing 6-month period	8.90%	18.34%	-9.44%
Volatility (1Y) Calculated over the trailing 1-year period	15.42%	25.35%	-9.93%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.07%	22.35%	-8.28%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	14.07%	22.35%	-8.28%