XYZY vs. USOY

Last updated Aug 4, 2026

XYZY (YieldMax XYZ Option Income Strategy ETF) and USOY (Defiance Oil Enhanced Options Income ETF) are both Derivative Income funds. Both are actively managed. Over the past year, XYZY returned 0.75% vs 35.36% for USOY. Their -0.03 correlation means they have often moved in opposite directions in the past. XYZY charges 0.99%/yr vs 1.22%/yr for USOY.

Performance

XYZY vs. USOY - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in YieldMax XYZ Option Income Strategy ETF (XYZY) 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, XYZY achieves a 13.02% return, which is significantly lower than USOY's 44.25% return.

XYZY

• 1D: 0.62%
• 1M: 4.57%
• 6M: 22.18%
• YTD: 13.02%
• 1Y: 0.75%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 12.78%

USOY

• 1D: -4.63%
• 1M: 12.58%
• 6M: 35.65%
• YTD: 44.25%
• 1Y: 35.36%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 16.63%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
USOY Defiance Oil Enhanced Options Income ETF	$3.04M	$3.28M	$3.41M
XYZY YieldMax XYZ Option Income Strategy ETF	$293.59K	$287.99K	$420.61K

XYZY vs. USOY - Yearly Performance Comparison

	2026 (YTD)	2025	2024
XYZY YieldMax XYZ Option Income Strategy ETF	13.02%	-29.43%	21.14%
USOY Defiance Oil Enhanced Options Income ETF	44.25%	-7.93%	6.13%

Correlation

The correlation between XYZY and USOY is -0.18, meaning they have often moved in opposite directions in the past. This relationship can weaken or reverse as market conditions change.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	-0.18
Correlation (All Time) Calculated using the full available price history since May 10, 2024	-0.03

The correlation between XYZY and USOY shifts across timeframes, from -0.18 (1 year) to -0.03 (all time), reflecting how their relationship changes across market environments.

Return for Risk

XYZY vs. USOY — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

XYZY

XYZY Risk / Return Rank: 12
XYZY Sharpe Ratio Rank: 12
XYZY Sortino Ratio Rank: 13
XYZY Omega Ratio Rank: 13
XYZY Calmar Ratio Rank: 11
XYZY Martin Ratio Rank: 11

USOY

USOY Risk / Return Rank: 39
USOY Sharpe Ratio Rank: 40
USOY Sortino Ratio Rank: 39
USOY Omega Ratio Rank: 42
USOY Calmar Ratio Rank: 39
USOY Martin Ratio Rank: 38

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

XYZY vs. USOY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for YieldMax XYZ Option Income Strategy ETF (XYZY) 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.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

	XYZY	USOY	Difference
Sharpe ratio: Return per unit of total volatility	0.02	1.01	-0.99
Sortino ratio: Return per unit of downside risk	0.29	1.47	-1.17
Omega ratio: Gain probability vs. loss probability	1.04	1.20	-0.16
Calmar ratio: Return relative to maximum drawdown	0.02	1.39	-1.37
Martin ratio: Return relative to average drawdown	0.04	4.10	-4.06

XYZY vs. USOY - Sharpe Ratio Comparison

The current XYZY Sharpe Ratio is 0.02, which is lower than the USOY Sharpe Ratio of 1.01. The chart below compares the historical Sharpe Ratios of XYZY 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.

Drawdowns

XYZY vs. USOY - Drawdown Comparison

The maximum XYZY drawdown since its inception was -52.30%, which is greater than USOY's maximum drawdown of -25.51%. Use the drawdown chart below to compare losses from any high point for XYZY and USOY.

Drawdown Indicators

	XYZY	USOY	Difference
Max Drawdown Largest peak-to-trough decline	-52.30%	-25.51%	-26.79%
Max Drawdown (1Y) Largest decline over 1 year	-37.72%	-25.51%	-12.21%
Current Drawdown Current decline from peak	-29.03%	-15.60%	-13.43%
Average Drawdown Average peak-to-trough decline	-22.45%	-7.18%	-15.27%
Ulcer Index Depth and duration of drawdowns from previous peaks	17.95%	8.65%	+9.30%

Volatility

XYZY vs. USOY - Volatility Comparison

The current volatility for YieldMax XYZ Option Income Strategy ETF (XYZY) is 6.63%, while Defiance Oil Enhanced Options Income ETF (USOY) has a volatility of 16.26%. This indicates that XYZY 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

	XYZY	USOY	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.63%	16.26%	-9.63%
Volatility (6M) Calculated over the trailing 6-month period	30.14%	32.70%	-2.56%
Volatility (1Y) Calculated over the trailing 1-year period	38.74%	35.22%	+3.52%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	41.55%	28.35%	+13.20%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	41.55%	28.35%	+13.20%

XYZY vs. USOY - Expense Ratio Comparison

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

Dividends

XYZY vs. USOY - Dividend Comparison

XYZY's dividend yield for the trailing twelve months is around 77.91%, more than USOY's 59.33% yield.

Position	TTM	2025	2024	2023
USOY Defiance Oil Enhanced Options Income ETF	59.33%	104.32%	48.60%	0.00%
XYZY YieldMax XYZ Option Income Strategy ETF	77.91%	95.35%	62.54%	9.85%

Frequently Asked Questions

Can I hold both XYZY and USOY in my portfolio?

XYZY and USOY have a correlation of -0.18, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, XYZY or USOY?

USOY has higher volatility (16.26%) compared to XYZY (6.63%). In terms of maximum drawdown, XYZY dropped -52.30% vs USOY's -25.51%.

Which ETF is better, XYZY or USOY?

On 1-year performance, USOY leads with 35.36% vs 0.75% for XYZY. On fees, XYZY is cheaper at 0.99% per year. On volatility, XYZY has been the lower-risk option at 6.63%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, XYZY or USOY?

Over the 1-year period, USOY has performed better with a 35.36% return vs 0.75%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, XYZY or USOY?

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

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

XYZY has the higher dividend yield at 77.91%, compared with 59.33% for USOY.

What is the main difference between XYZY and USOY?

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

Which has better risk-adjusted returns?

USOY currently has the higher Sharpe Ratio (1.01 vs 0.02), 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.