XONE vs. USOY

Last updated Jun 4, 2026

XONE (BondBloxx Bloomberg One Year Target Duration US Treasury ETF) and USOY (Defiance Oil Enhanced Options Income ETF) are both exchange-traded funds - XONE is a Government Bonds fund tracking the Bloomberg US Treasury 1 Year Target Duration Index, while USOY is a Derivative Income fund actively managed by Defiance. XONE is passively managed, while USOY is actively managed. Over the past year, XONE returned 3.85% vs 57.29% for USOY. At a correlation of -0.27, they often move in opposite directions. XONE charges 0.03%/yr vs 1.22%/yr for USOY.

Performance

XONE vs. USOY - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in BondBloxx Bloomberg One Year Target Duration US Treasury ETF (XONE) 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, XONE achieves a 1.11% return, which is significantly lower than USOY's 62.18% return.

XONE

• 1D: -0.02%
• 1M: 0.24%
• YTD: 1.11%
• 6M: 1.47%
• 1Y: 3.85%
• 3Y*: 4.57%
• 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)

XONE vs. USOY - Yearly Performance Comparison

	2026 (YTD)	2025	2024
XONE BondBloxx Bloomberg One Year Target Duration US Treasury ETF	1.11%	4.41%	3.59%
USOY Defiance Oil Enhanced Options Income ETF	62.18%	-7.93%	7.27%

Correlation

The correlation between XONE and USOY is -0.29, 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	-0.29
Correlation (All Time) Calculated using the full available price history since May 13, 2024	-0.27

Return for Risk

XONE vs. USOY — Risk / Return Rank

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

XONE

XONE Risk / Return Rank: 99
XONE Sharpe Ratio Rank: 99
XONE Sortino Ratio Rank: 99
XONE Omega Ratio Rank: 99
XONE Calmar Ratio Rank: 99
XONE Martin Ratio Rank: 99

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.

XONE vs. USOY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for BondBloxx Bloomberg One Year Target Duration US Treasury ETF (XONE) 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.

	XONE	USOY	Difference
Sharpe ratio: Return per unit of total volatility	7.06	1.89	+5.17
Sortino ratio: Return per unit of downside risk	16.95	2.30	+14.66
Omega ratio: Gain probability vs. loss probability	3.57	1.35	+2.23
Calmar ratio: Return relative to maximum drawdown	24.16	4.03	+20.13
Martin ratio: Return relative to average drawdown	138.74	7.74	+131.00
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

XONE vs. USOY - Sharpe Ratio Comparison

The current XONE Sharpe Ratio is 7.06, which is higher than the USOY Sharpe Ratio of 1.89. The chart below compares the historical Sharpe Ratios of XONE 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

	XONE	USOY	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	7.06	1.89	+5.17
Sharpe Ratio (All Time) Calculated using the full available price history	4.96	0.99	+3.97

Drawdowns

XONE vs. USOY - Drawdown Comparison

The maximum XONE drawdown since its inception was -0.40%, smaller than the maximum USOY drawdown of -17.46%. Use the drawdown chart below to compare losses from any high point for XONE and USOY.

Drawdown Indicators

	XONE	USOY	Difference
Max Drawdown Largest peak-to-trough decline	-0.40%	-17.46%	+17.06%
Max Drawdown (1Y) Largest decline over 1 year	-0.16%	-14.29%	+14.13%
Max Drawdown (3Y) Largest decline over 3 years	-0.28%	—	—
Current Drawdown Current decline from peak	-0.02%	-5.11%	+5.09%
Average Drawdown Average peak-to-trough decline	-0.04%	-6.47%	+6.43%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.03%	7.42%	-7.39%

Volatility

XONE vs. USOY - Volatility Comparison

The current volatility for BondBloxx Bloomberg One Year Target Duration US Treasury ETF (XONE) is 0.10%, while Defiance Oil Enhanced Options Income ETF (USOY) has a volatility of 11.62%. This indicates that XONE 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

	XONE	USOY	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.10%	11.62%	-11.52%
Volatility (6M) Calculated over the trailing 6-month period	0.34%	27.18%	-26.84%
Volatility (1Y) Calculated over the trailing 1-year period	0.55%	30.44%	-29.89%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	0.86%	26.13%	-25.27%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	0.86%	26.13%	-25.27%

XONE vs. USOY - Expense Ratio Comparison

XONE has a 0.03% expense ratio, which is lower than USOY's 1.22% expense ratio.

Dividends

XONE vs. USOY - Dividend Comparison

XONE's dividend yield for the trailing twelve months is around 4.06%, less than USOY's 54.16% yield.

Position	TTM	2025	2024	2023	2022
USOY Defiance Oil Enhanced Options Income ETF	54.16%	104.32%	48.60%	0.00%	0.00%
XONE BondBloxx Bloomberg One Year Target Duration US Treasury ETF	4.06%	4.33%	5.21%	4.46%	1.17%

Frequently Asked Questions

Can I hold both XONE and USOY in my portfolio?

XONE and USOY have a correlation of -0.29, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, XONE or USOY?

USOY has higher volatility (11.62%) compared to XONE (0.10%). In terms of maximum drawdown, XONE dropped -0.40% vs USOY's -17.46%.

Which ETF is better, XONE or USOY?

On 1-year performance, USOY leads with 57.29% vs 3.85% for XONE. On fees, XONE is cheaper at 0.03% per year. On volatility, XONE has been the lower-risk option at 0.10%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, XONE or USOY?

Over the 1-year period, USOY has performed better with a 57.29% return vs 3.85%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, XONE or USOY?

XONE is cheaper with a 0.03% expense ratio, compared with 1.22% for USOY.

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

USOY has the higher dividend yield at 54.16%, compared with 4.06% for XONE.

What is the main difference between XONE and USOY?

XONE is categorized as Government Bonds, while USOY is Derivative Income. They also come from different issuers: BondBloxx and Defiance. Their fees differ too: 0.03% for XONE and 1.22% for USOY.

Which has better risk-adjusted returns?

XONE currently has the higher Sharpe Ratio (7.06 vs 1.89), 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.