YBIT vs. USOY

Last updated Aug 4, 2026

YBIT (YieldMax Bitcoin Option Income Strategy ETF) and USOY (Defiance Oil Enhanced Options Income ETF) are both exchange-traded funds - YBIT is a Cryptocurrency fund actively managed by YieldMax, while USOY is a Derivative Income fund actively managed by Defiance. Both are actively managed. Over the past year, YBIT returned -40.05% vs 35.36% for USOY. Their 0.00 correlation means their historical movements had little consistent relationship. YBIT charges 0.99%/yr vs 1.22%/yr for USOY.

Performance

YBIT vs. USOY - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in YieldMax Bitcoin Option Income Strategy ETF (YBIT) 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, YBIT achieves a -25.71% return, which is significantly lower than USOY's 44.25% return.

YBIT

• 1D: 0.92%
• 1M: 2.51%
• 6M: -15.72%
• YTD: -25.71%
• 1Y: -40.05%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: -12.67%

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
YBIT YieldMax Bitcoin Option Income Strategy ETF	$603.44K	$410.45K	$548.08K

YBIT vs. USOY - Yearly Performance Comparison

	2026 (YTD)	2025	2024
YBIT YieldMax Bitcoin Option Income Strategy ETF	-25.71%	-2.49%	4.33%
USOY Defiance Oil Enhanced Options Income ETF	44.25%	-7.93%	6.13%

Correlation

The correlation between YBIT and USOY is -0.05, meaning there was essentially no consistent relationship between their historical price movements. Each responded to its own set of market drivers.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	-0.05
Correlation (All Time) Calculated using the full available price history since May 10, 2024	0.00

Return for Risk

YBIT vs. USOY — Risk / Return Rank

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

YBIT

YBIT Risk / Return Rank: 2
YBIT Sharpe Ratio Rank: 1
YBIT Sortino Ratio Rank: 2
YBIT Omega Ratio Rank: 1
YBIT Calmar Ratio Rank: 2
YBIT Martin Ratio Rank: 2

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.

YBIT vs. USOY - Risk-Adjusted Trends Comparison

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

	YBIT	USOY	Difference
Sharpe ratio: Return per unit of total volatility	-1.09	1.01	-2.10
Sortino ratio: Return per unit of downside risk	-1.58	1.47	-3.04
Omega ratio: Gain probability vs. loss probability	0.82	1.20	-0.38
Calmar ratio: Return relative to maximum drawdown	-0.85	1.39	-2.24
Martin ratio: Return relative to average drawdown	-1.31	4.10	-5.42

YBIT vs. USOY - Sharpe Ratio Comparison

The current YBIT Sharpe Ratio is -1.09, which is lower than the USOY Sharpe Ratio of 1.01. The chart below compares the historical Sharpe Ratios of YBIT 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

YBIT vs. USOY - Drawdown Comparison

The maximum YBIT drawdown since its inception was -47.46%, which is greater than USOY's maximum drawdown of -25.51%. Use the drawdown chart below to compare losses from any high point for YBIT and USOY.

Drawdown Indicators

	YBIT	USOY	Difference
Max Drawdown Largest peak-to-trough decline	-47.46%	-25.51%	-21.95%
Max Drawdown (1Y) Largest decline over 1 year	-47.46%	-25.51%	-21.95%
Current Drawdown Current decline from peak	-43.94%	-15.60%	-28.34%
Average Drawdown Average peak-to-trough decline	-17.21%	-7.18%	-10.03%
Ulcer Index Depth and duration of drawdowns from previous peaks	30.54%	8.65%	+21.89%

Volatility

YBIT vs. USOY - Volatility Comparison

The current volatility for YieldMax Bitcoin Option Income Strategy ETF (YBIT) is 6.52%, while Defiance Oil Enhanced Options Income ETF (USOY) has a volatility of 16.26%. This indicates that YBIT 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

	YBIT	USOY	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.52%	16.26%	-9.74%
Volatility (6M) Calculated over the trailing 6-month period	28.27%	32.70%	-4.43%
Volatility (1Y) Calculated over the trailing 1-year period	36.98%	35.22%	+1.76%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	38.13%	28.35%	+9.78%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	38.13%	28.35%	+9.78%

YBIT vs. USOY - Expense Ratio Comparison

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

Dividends

YBIT vs. USOY - Dividend Comparison

YBIT's dividend yield for the trailing twelve months is around 99.60%, more than USOY's 59.33% yield.

Position	TTM	2025	2024
USOY Defiance Oil Enhanced Options Income ETF	59.33%	104.32%	48.60%
YBIT YieldMax Bitcoin Option Income Strategy ETF	99.60%	88.33%	60.00%

Frequently Asked Questions

Can I hold both YBIT and USOY in my portfolio?

YBIT and USOY have a correlation of -0.05, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, YBIT or USOY?

USOY has higher volatility (16.26%) compared to YBIT (6.52%). In terms of maximum drawdown, YBIT dropped -47.46% vs USOY's -25.51%.

Which ETF is better, YBIT or USOY?

On 1-year performance, USOY leads with 35.36% vs -40.05% for YBIT. On fees, YBIT is cheaper at 0.99% per year. On volatility, YBIT has been the lower-risk option at 6.52%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, YBIT or USOY?

Over the 1-year period, USOY has performed better with a 35.36% return vs -40.05%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, YBIT or USOY?

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

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

YBIT has the higher dividend yield at 99.60%, compared with 59.33% for USOY.

What is the main difference between YBIT and USOY?

YBIT is categorized as Cryptocurrency, while USOY is Derivative Income. They also come from different issuers: YieldMax and Defiance. Their fees differ too: 0.99% for YBIT and 1.22% for USOY.

Which has better risk-adjusted returns?

USOY currently has the higher Sharpe Ratio (1.01 vs -1.09), 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.