XYLG vs. USOY

Last updated Jun 3, 2026

XYLG (Global X S&P 500 Covered Call & Growth ETF) and USOY (Defiance Oil Enhanced Options Income ETF) are both Derivative Income funds. XYLG is passively managed, while USOY is actively managed. Over the past year, XYLG returned 24.07% vs 55.52% for USOY. At a correlation of -0.08, they often move in opposite directions. XYLG charges 0.35%/yr vs 1.22%/yr for USOY.

Performance

XYLG vs. USOY - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Global X S&P 500 Covered Call & Growth ETF (XYLG) 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, XYLG achieves a 8.26% return, which is significantly lower than USOY's 59.86% return.

XYLG

• 1D: -0.04%
• 1M: 3.53%
• YTD: 8.26%
• 6M: 9.33%
• 1Y: 24.07%
• 3Y*: 16.78%
• 5Y*: 10.83%
• 10Y*: —

USOY

• 1D: 1.63%
• 1M: -1.93%
• YTD: 59.86%
• 6M: 58.33%
• 1Y: 55.52%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

XYLG vs. USOY - Yearly Performance Comparison

	2026 (YTD)	2025	2024
XYLG Global X S&P 500 Covered Call & Growth ETF	8.26%	12.93%	13.32%
USOY Defiance Oil Enhanced Options Income ETF	59.86%	-7.93%	7.27%

Correlation

The correlation between XYLG and USOY is -0.27, 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	-0.27
Correlation (All Time) Calculated using the full available price history since May 13, 2024	-0.08

The correlation between XYLG and USOY shifts across timeframes, from -0.27 (1 year) to -0.08 (all time), reflecting how their relationship changes across market environments.

Return for Risk

XYLG vs. USOY — Risk / Return Rank

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

XYLG

XYLG Risk / Return Rank: 78
XYLG Sharpe Ratio Rank: 77
XYLG Sortino Ratio Rank: 79
XYLG Omega Ratio Rank: 80
XYLG Calmar Ratio Rank: 70
XYLG Martin Ratio Rank: 85

USOY

USOY Risk / Return Rank: 56
USOY Sharpe Ratio Rank: 53
USOY Sortino Ratio Rank: 45
USOY Omega Ratio Rank: 54
USOY Calmar Ratio Rank: 79
USOY Martin Ratio Rank: 47

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.

XYLG vs. USOY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Global X S&P 500 Covered Call & Growth ETF (XYLG) 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.

	XYLG	USOY	Difference
Sharpe ratio Return per unit of total volatility	2.55	1.83	+0.71
Sortino ratio Return per unit of downside risk	3.59	2.25	+1.35
Omega ratio Gain probability vs. loss probability	1.48	1.34	+0.14
Calmar ratio Return relative to maximum drawdown	3.56	4.10	-0.55
Martin ratio Return relative to average drawdown	18.01	7.91	+10.10
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

XYLG vs. USOY - Sharpe Ratio Comparison

The current XYLG Sharpe Ratio is 2.55, which is higher than the USOY Sharpe Ratio of 1.83. The chart below compares the historical Sharpe Ratios of XYLG 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

	XYLG	USOY	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.55	1.83	+0.71
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.78	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.99	0.96	+0.03

Drawdowns

XYLG vs. USOY - Drawdown Comparison

The maximum XYLG drawdown since its inception was -21.30%, which is greater than USOY's maximum drawdown of -17.46%. Use the drawdown chart below to compare losses from any high point for XYLG and USOY.

Drawdown Indicators

	XYLG	USOY	Difference
Max Drawdown Largest peak-to-trough decline	-21.30%	-17.46%	-3.84%
Max Drawdown (1Y) Largest decline over 1 year	-6.93%	-14.29%	+7.36%
Max Drawdown (3Y) Largest decline over 3 years	-17.42%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-21.30%	—	—
Current Drawdown Current decline from peak	-0.04%	-6.47%	+6.43%
Average Drawdown Average peak-to-trough decline	-4.10%	-6.47%	+2.37%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.37%	7.42%	-6.05%

Volatility

XYLG vs. USOY - Volatility Comparison

The current volatility for Global X S&P 500 Covered Call & Growth ETF (XYLG) is 2.55%, while Defiance Oil Enhanced Options Income ETF (USOY) has a volatility of 11.94%. This indicates that XYLG 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

	XYLG	USOY	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.55%	11.94%	-9.39%
Volatility (6M) Calculated over the trailing 6-month period	7.58%	27.16%	-19.58%
Volatility (1Y) Calculated over the trailing 1-year period	9.49%	30.46%	-20.97%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.00%	26.14%	-12.14%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	13.87%	26.14%	-12.27%

XYLG vs. USOY - Expense Ratio Comparison

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

Dividends

XYLG vs. USOY - Dividend Comparison

XYLG's dividend yield for the trailing twelve months is around 13.01%, less than USOY's 54.95% yield.

Position	TTM	2025	2024	2023	2022	2021	2020
USOY Defiance Oil Enhanced Options Income ETF	54.95%	104.32%	48.60%	0.00%	0.00%	0.00%	0.00%
XYLG Global X S&P 500 Covered Call & Growth ETF	13.01%	13.94%	23.65%	4.90%	6.43%	7.40%	1.39%

Frequently Asked Questions

Can I hold both XYLG and USOY in my portfolio?

XYLG and USOY have a correlation of -0.27, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, XYLG or USOY?

USOY has higher volatility (11.94%) compared to XYLG (2.55%). In terms of maximum drawdown, XYLG dropped -21.30% vs USOY's -17.46%.

Which ETF is better, XYLG or USOY?

On 1-year performance, USOY leads with 55.52% vs 24.07% for XYLG. On fees, XYLG is cheaper at 0.35% per year. On volatility, XYLG has been the lower-risk option at 2.55%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, XYLG or USOY?

Over the 1-year period, USOY has performed better with a 55.52% return vs 24.07%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, XYLG or USOY?

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

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

USOY has the higher dividend yield at 54.95%, compared with 13.01% for XYLG.

What is the main difference between XYLG and USOY?

They also come from different issuers: Global X and Defiance. Their fees differ too: 0.35% for XYLG and 1.22% for USOY.

Which has better risk-adjusted returns?

XYLG currently has the higher Sharpe Ratio (2.55 vs 1.83), 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.