Defiance Oil Enhanced Options Income ETF (USOY US)
USOY US$7.84
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Performance
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Share price activity
Displays share price activity. Volume = number of shares traded, Turnover = value of shares traded, VWAP = volume-weighted average price for the day, sourced from Morningstar.
- Last (Price)
- 7.84
- Change
- ▲ 0.15 (2.01)
- Bid / Ask
- 7.81 - 7.95
- Volume
- 55,145
- Turnover
- 422,453
- Open
- 7.79
- Day Range
- 7.78 - 7.90
- VWAP
- 7.83
- Prev Close
- 7.69
- Last Trade
- 28/10 4:00pm
Fund profile
Displays who issues the fund, how it is structured and invests, its Morningstar category and benchmark, size, headline costs and dates, sourced from Morningstar. Fund size counts every class of the fund; ETF net assets is this listing alone.
Fund size
$78.6M
OCT 2026
Distributions
Weekly
Since inception
2.5 yrs
MAY 2024
- Legal name
- Defiance Oil Enhanced Options Income ETF
- Issuer
- Defiance ETFs LLC
- Type
- Exchange-Traded Fund
- Structure
- Open Ended Investment Company
- Management style
- Actively managed
- Morningstar category
- Commodities Focused
- Category index
- Bloomberg Commodity TR USD
- Benchmark
- N/A
- ETF net assets
- $78.6M
- Units on issue
- 10.0M
- Management fee
- 0.99% p.a.
- Domicile
- United States
- Base currency
- USD
- Inception
- 9 MAY 2024
- Listed
- 10 MAY 2024
Objective and strategy
The investment seeks current income; the secondary objective being exposure to the performance of United States Oil Fund, LP (“USO”) subject to a limit on potential investment gains. The fund is an actively managed ETF that seeks current income while maintaining the opportunity for indirect exposure to the share price of United States Oil Fund, LP, subject to a limit on potential gains related to increases in the price of USO’s shares. The fund is non-diversified.
Asset allocation
Displays how the fund is split between shares, bonds, cash and other assets, sourced from Morningstar.
US equity 0.00%Non-US equity 20.80%
| Asset class | Net % | Long % | Short % |
|---|---|---|---|
| Equity | 20.80 | 30.48 | 9.68 |
| Bond | 76.65 | 76.65 | 0.00 |
| Cash | 2.94 | 11.50 | 8.55 |
| Other | -0.39 | 0.00 | 0.39 |
Portfolio statistics · 22 OCT 2026
Displays the valuation, yield, size, concentration and quality of the fund's shareholdings taken together (trailing twelve months), sourced from Morningstar.
- Assets in top 10
- 20.80%
Top holdings · top 10 = 106.97% of assets
Displays the fund's ten largest holdings and their weight in the portfolio, sourced from Morningstar.
| Holding | % Weight | First bought | Market value | Currency | Units held | Sector | Country | |
|---|---|---|---|---|---|---|---|---|
| United States Treasury Bills 0% | 36.68 | — | 26.0M | USD | 26.9M | — | United States | |
| Uso 11/20/2026 140.01 C | 23.95 | SEP 2026 | 17.0M | USD | 4,825 | — | — | |
| United States Treasury Bills 0% | 23.00 | — | 16.3M | USD | 16.6M | — | United States | |
| United States Treasury Notes 2.38% | 17.64 | — | 12.5M | USD | 12.7M | — | United States | |
| United States Treasury Bills 0% | 10.10 | — | 7.2M | USD | 7.2M | — | United States | |
| Uso 11/20/2026 140.01 P | -9.29 | — | -6.6M | USD | 4,825 | — | — | |
| United States Treasury Bills 0% | 4.16 | — | 3.0M | USD | 3.0M | — | United States | |
| First American Government Obligs X FGXXX | 2.90 | — | 2.1M | USD | 2.1M | — | United States | |
| USO US 10/02/26 C153 | -1.31 | — | -930,535 | USD | 2,600 | — | — | |
| USO US 10/02/26 C154 | -0.84 | — | -596,888 | USD | 1,725 | — | — |
Trailing returns · 30 SEP 2026
Displays total returns after fees at net asset value, the return at the ASX market price, the return before fees, and where the fund ranks among funds in its Morningstar category, sourced from Morningstar.
Fund (NAV) Market price
1M
7.5
3M
24.8
6M
1.6
YTD
62.1
1Y
58.0
| Period | Fund (NAV) % | Market price % | Before fees % | Rank in category |
|---|---|---|---|---|
| 1 month | 7.55 | 7.54 | 7.64 | 16 / 61 |
| 3 months | 24.80 | 23.92 | 25.10 | 16 / 60 |
| 6 months | 1.56 | 1.48 | 2.06 | 40 / 59 |
| Year to date | 62.08 | 62.54 | 63.28 | 15 / 58 |
| 1 year | 58.04 | 57.71 | 59.61 | 15 / 58 |
Returns to 30 SEP 2026, periods of 3 years and longer annualised. Rank is the percentile in the Morningstar category at 30 SEP 2026 (1 = best) over the funds ranked.
Calendar year returns
Displays the total return after fees and the capital (price) return for each calendar year, with the fund's rank in its Morningstar category, sourced from Morningstar.
Total Capital
2025
-7.1
| Year | Total % | Capital % | Rank in category |
|---|---|---|---|
| 2025 | -7.12 | -10.00 | 100 / 52 |
Risk statistics · 30 SEP 2026
Displays how the fund has moved relative to its category index: alpha (return beyond the index), beta (sensitivity to it), R-squared (how much the index explains), volatility and risk-adjusted returns, sourced from Morningstar.
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Alpha | -5.05 | — | — | — |
| Beta | 1.71 | — | — | — |
| R-squared | 62.36 | — | — | — |
| Standard deviation | 43.13 | — | — | — |
| Sharpe ratio | 1.17 | — | — | — |
| Sortino ratio | 2.91 | — | — | — |
| Tracking error | 30.00 | — | — | — |
| Information ratio | 0.58 | — | — | — |
| Upside capture % | 153.74 | — | — | — |
| Downside capture % | 193.81 | — | — | — |
| Maximum drawdown % | -21.84 | — | — | — |
Measured against Bloomberg Commodity TR USD with USTREAS T-Bill Auction Ave 3 Mon as the risk-free rate, to 30 SEP 2026. Maximum drawdown is on gross returns at the latest quarter end.
Portfolio risk score
Displays Morningstar's Portfolio Risk Score for the fund's holdings, how closely the ETF tracks its index day to day, the estimated cost of holding it against the index, the cost of trading it at market size, and its best and worst quarters since inception, sourced from Morningstar.
Risk score
104.2
Cash 0
Global shares 100
Morningstar Portfolio Risk Score at 30 SEP 2026.
- Market impact cost %
- 0.081
- Best quarter
- 59.99% · MAR 2026
- Worst quarter
- -18.42% · JUN 2026
Fees and costs
Displays the fund's ongoing costs as a percentage of assets per year: the PDS management fees and costs, performance fee and transaction costs that make up the total cost ratio (the RG 97 forward estimate, and what was charged last financial year), and the buy / sell spread, sourced from Morningstar.
- Management fees and costs
- 0.99% p.a.
- PDS dated
- 1 APR 2026
Distributions
Displays the most recent distribution paid per unit and its key dates, sourced from Morningstar.
- Latest distribution
- 0.0663
- Ex Date
- 22 OCT 2026
- Record Date
- 22 OCT 2026
- Pay Date
- 23 OCT 2026
- NAV at ex date
- 7.66
- Paid this year
- 3.0312
Distributions by year
Displays the total distributions paid per unit in each calendar year, sourced from Morningstar.
2024
0.3
2023
6.8
| Year | Per unit ($) |
|---|---|
| 2024 | 0.2909 |
| 2023 | 6.8328 |
Distribution history
Displays the most recent distributions by ex date, sourced from Morningstar.
| Ex Date | Per unit ($) |
|---|---|
| 22 OCT 2026 | 0.0663 |
| 15 OCT 2026 | 0.0650 |
| 8 OCT 2026 | 0.0630 |
| 1 OCT 2026 | 0.0626 |
| 24 SEP 2026 | 0.0629 |
| 17 SEP 2026 | 0.0695 |
| 10 SEP 2026 | 0.0649 |
| 3 SEP 2026 | 0.0638 |
| 27 AUG 2026 | 0.0589 |
| 20 AUG 2026 | 0.0618 |
| 13 AUG 2026 | 0.0682 |
| 6 AUG 2026 | 0.0642 |
Sustainability rating · 31 AUG 2026
Displays the Morningstar Sustainability Rating (1 to 5 globes, more is better) and the portfolio ESG risk score behind it (lower is less risk), against the average of the fund's global category, sourced from Morningstar and Sustainalytics.
Average
Carbon · 31 AUG 2026
Displays the portfolio carbon risk score (lower is less exposure to the transition to a low-carbon economy), the share of the portfolio in companies with fossil fuel revenue, and whether the fund earns Morningstar's Low Carbon Designation, sourced from Morningstar and Sustainalytics.
- Category average
- 21.35%
Fund managers
Displays the people Morningstar lists as managers of the fund, sourced from Morningstar.
- Scott Snyder
- Jay Pestrichelli
- Matt Brandt
Tenure
Displays how long the managers have run the fund: the average and longest tenure, who has served longest, the latest appointment and how many other funds the team manages, sourced from Morningstar.
- Number of managers
- 3
- Average tenure
- 1.4 years
- Longest tenure
- 2.4 years
- Longest serving
- Jay Pestrichelli · since 9 MAY 2024
- Most recent appointment
- Scott Snyder, Matt Brandt · since 23 DEC 2025
- Managed since
- 9 MAY 2024
- Other funds managed
- 130
Displays all company announcements released by the company to the exchange, sourced from Morningstar.
Announcements
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