USOY
Defiance Oil Enhanced Options Income ETF
USOY is an actively managed fund that employs a put options strategy that emphasizes current income while providing exposure to the price of United States Oil Fund (USO).
Risk Management
DERIVATIVES
Active
MANAGEMENT STYLE
37.4 M
ASSETS UNDER MGMT
99 bp
EXPENSES
Fund Basics
| Fund sponsor | Defiance |
| Category | Risk Management |
| Asset class | Derivatives |
| Website | link... |
| Inception date | May 09, 2024 |
| Assets (mns) | $37 |
| Expense ratio | 99 bp |
Fund Structure
| Regulation | Open-Ended Fund |
| Distributions | Monthly |
| Taxation | 1099 |
| Derivatives-based | No |
| Options available | No |
| Currency hedged | No |
| Fund of funds | No |
Top Holdings
| UNITED STATES TREASURY NOTE/BOND 4.25% 10/15/ | 19.1 % |
| UNITED STATES TREASURY NOTE/BOND 3.875% 01/15 | 18.1 % |
| UNITED STATES TREASURY BILL 08/14/2025 | 15.9 % |
| CASH & OTHER | 13.6 % |
| UNITED STATES TREASURY NOTE/BOND 3% 07/15/202 | 13.0 % |
| UNITED STATES TREASURY BILL 06/12/2025 | 10.8 % |
| UNITED STATES TREASURY BILL 11/06/2025 | 10.6 % |
| USO US 06/11/25 P71 | -1.0 % |
Asset Allocation
Historical Performance
Standardized Performance (as of 05/31/2025)
| YTD | 1 YR | 2 YR | 3 YR | 5 YR | 10 YR | 20 YR | Incep. | |
|---|---|---|---|---|---|---|---|---|
| Price Returns | -27.5% | -48.8% | -- | -- | -- | -- | -- | -47.2% |
| Dividend Yield | 20.2% | 49.1% | -- | -- | -- | -- | -- | 47.4% |
| Total Returns | -7.2% | 0.2% | -- | -- | -- | -- | -- | 0.2% | Ann. Volatility | 23.8% | 21.2% | -- | -- | -- | -- | -- | 21.0% |
Market Correlations
| versus... | Beta | R-squared |
| S&P 500 | 0.00 | 0% |
| MSCI EAFE | 0.00 | 0% |
| MSCI Emg Mkts | 0.00 | 0% |
Liquidity Measures
| Avg. volume (000) | 77 |
| ADV traded (mns) | $1 |
| Turnover | 2.1% |
| Avg. Bid/Ask (% of price) | 0.50% |
Technical Indicators
| Recent close | $10.10 |
| 30d moving avg. | $9.33 |
| Annualized volatility | 0.0% |
| Relative strength (RSI) | 53 |
| Short interest | 0.7% |
Distributions
Assets Under Management (mns)
Money Flows (mns)
Short Interest (as % of shares outstanding)
Long Money Flows (mns)
Expense Analysis
| Peer Group | Active Risk Management Derivatives ETFs |
| # of ETFs | 109 |
| Avg. Expense Ratio | 85.0 bp |
| Std. Deviation | 17 bp |
| USOY (99 bp) Percentile rank | 60 |
Peer Group Expense Ratio Distribution
Total Cost of Ownership (TCO) Comparison
| Expense (bp) (A) |
Avg. Bid/Ask (bp) (B) |
TCO (bp) (A)+(B) |
|
|---|---|---|---|
| USOY | 99.0 | 49.5 | 148.5 |
| Peer Avg. | 93.9 | 36.5 | 130.4 |
For a detailed cost analysis of this and any other ETF use the TCO Comparison Tool .