XV vs. USOY

Last updated Jun 4, 2026

XV (Simplify Target 15 Distribution ETF) and USOY (Defiance Oil Enhanced Options Income ETF) are both Derivative Income funds. Both are actively managed. Over the past year, XV returned 13.08% vs 57.29% for USOY. At a correlation of -0.13, they often move in opposite directions. XV charges 0.75%/yr vs 1.22%/yr for USOY.

Performance

XV vs. USOY - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Simplify Target 15 Distribution ETF (XV) 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, XV achieves a 3.17% return, which is significantly lower than USOY's 62.18% return.

XV

• 1D: -0.40%
• 1M: 1.21%
• YTD: 3.17%
• 6M: 2.76%
• 1Y: 13.08%
• 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)

XV vs. USOY - Yearly Performance Comparison

	2026 (YTD)	2025
XV Simplify Target 15 Distribution ETF	3.17%	16.13%
USOY Defiance Oil Enhanced Options Income ETF	62.18%	1.45%

Correlation

The correlation between XV and USOY is -0.19, 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	-0.19
Correlation (All Time) Calculated using the full available price history since Apr 16, 2025	-0.13

Return for Risk

XV vs. USOY — Risk / Return Rank

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

XV

XV Risk / Return Rank: 44
XV Sharpe Ratio Rank: 40
XV Sortino Ratio Rank: 41
XV Omega Ratio Rank: 39
XV Calmar Ratio Rank: 46
XV Martin Ratio Rank: 52

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.

XV vs. USOY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Simplify Target 15 Distribution ETF (XV) 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.

	XV	USOY	Difference
Sharpe ratio: Return per unit of total volatility	1.42	1.89	-0.48
Sortino ratio: Return per unit of downside risk	2.09	2.30	-0.20
Omega ratio: Gain probability vs. loss probability	1.25	1.35	-0.09
Calmar ratio: Return relative to maximum drawdown	2.29	4.03	-1.74
Martin ratio: Return relative to average drawdown	8.72	7.74	+0.98
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

XV vs. USOY - Sharpe Ratio Comparison

The current XV Sharpe Ratio is 1.42, which is comparable to the USOY Sharpe Ratio of 1.89. The chart below compares the historical Sharpe Ratios of XV 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

	XV	USOY	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.42	1.89	-0.48
Sharpe Ratio (All Time) Calculated using the full available price history	1.62	0.99	+0.63

Drawdowns

XV vs. USOY - Drawdown Comparison

The maximum XV drawdown since its inception was -5.73%, smaller than the maximum USOY drawdown of -17.46%. Use the drawdown chart below to compare losses from any high point for XV and USOY.

Drawdown Indicators

	XV	USOY	Difference
Max Drawdown Largest peak-to-trough decline	-5.73%	-17.46%	+11.73%
Max Drawdown (1Y) Largest decline over 1 year	-5.73%	-14.29%	+8.56%
Current Drawdown Current decline from peak	-0.42%	-5.11%	+4.69%
Average Drawdown Average peak-to-trough decline	-0.98%	-6.47%	+5.49%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.50%	7.42%	-5.92%

Volatility

XV vs. USOY - Volatility Comparison

The current volatility for Simplify Target 15 Distribution ETF (XV) is 2.09%, while Defiance Oil Enhanced Options Income ETF (USOY) has a volatility of 11.62%. This indicates that XV 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

	XV	USOY	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.09%	11.62%	-9.53%
Volatility (6M) Calculated over the trailing 6-month period	5.97%	27.18%	-21.21%
Volatility (1Y) Calculated over the trailing 1-year period	9.31%	30.44%	-21.13%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	10.77%	26.13%	-15.36%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	10.77%	26.13%	-15.36%

XV vs. USOY - Expense Ratio Comparison

XV has a 0.75% expense ratio, which is lower than USOY's 1.22% expense ratio.

Dividends

XV vs. USOY - Dividend Comparison

XV's dividend yield for the trailing twelve months is around 19.22%, less than USOY's 54.16% yield.

Position	TTM	2025	2024
USOY Defiance Oil Enhanced Options Income ETF	54.16%	104.32%	48.60%
XV Simplify Target 15 Distribution ETF	19.22%	13.87%	0.00%

Frequently Asked Questions

Can I hold both XV and USOY in my portfolio?

XV and USOY have a correlation of -0.19, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, XV or USOY?

USOY has higher volatility (11.62%) compared to XV (2.09%). In terms of maximum drawdown, XV dropped -5.73% vs USOY's -17.46%.

Which ETF is better, XV or USOY?

On 1-year performance, USOY leads with 57.29% vs 13.08% for XV. On fees, XV is cheaper at 0.75% per year. On volatility, XV has been the lower-risk option at 2.09%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, XV or USOY?

Over the 1-year period, USOY has performed better with a 57.29% return vs 13.08%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, XV or USOY?

XV is cheaper with a 0.75% expense ratio, compared with 1.22% for USOY.

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

USOY has the higher dividend yield at 54.16%, compared with 19.22% for XV.

What is the main difference between XV and USOY?

They also come from different issuers: Simplify and Defiance. Their fees differ too: 0.75% for XV and 1.22% for USOY.

Which has better risk-adjusted returns?

USOY currently has the higher Sharpe Ratio (1.89 vs 1.42), 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.