Which paid more, EIPI or USOY?

Over the year to Nov 4, 2026, EIPI paid 7.7% of its starting price in cash and USOY paid 51.6%, so USOY paid more. Cash paid is not the same as money made: the price change matters too.

Which returned more once distributions are counted, EIPI or USOY?

With every distribution reinvested, EIPI returned +21.8% and USOY +56.0% over the year to Nov 4, 2026.

Which is cheaper, EIPI or USOY?

EIPI charges 1.11% a year and USOY charges 1.12%, so EIPI is cheaper. Fees come from each fund's prospectus.

Data as of Nov 4, 2026.

Income ETFs

EIPI vs USOY: Dividend Yield & Total Return

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Over the year to Nov 4, 2026, USOY paid 51.6% of its price in cash against EIPI’s 7.7%, and returned more with it reinvested.

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Net assets on Nov 3, 2026: $1.1bn for FT Energy Income Partners Enhanced Income ETF and $79m for Defiance Oil Enhanced Options Income ETF.

EIPI on its own →USOY on its own →

At a glance

7.7%

EIPI cash paid, 1 year

51.6%

USOY cash paid, 1 year

+21.8%

EIPI total return, 1 year

+56.0%

USOY total return, 1 year

EIPI · 1 year to Nov 4, 2026 3.8 pts behind its own holdings

EIPI

+21.8%

Own

+25.6%

3.8 pts behind its own holdings

EIPI over 1 year: paid 7.7%, price +13.7%, total +21.8%, its own holdings +25.6%, −3.8 pts. Data to Nov 4, 2026.

its own holdings

+25.6%

EIPI

+21.8%

3.8 pts behind its own holdings

Total return, distributions reinvested

3.8 pts behind its own holdings

EIPI over 1 year: paid 7.7%, price +13.7%, total +21.8%, its own holdings +25.6%, −3.8 pts. Data to Nov 4, 2026.

its own holdings

+25.6%

EIPI

+21.8%

7.7% of it arrived as cash. Total return, distributions reinvested. EIPI over 1 year: paid 7.7%, price +13.7%, total +21.8%, its own holdings +25.6%, −3.8 pts. Data to Nov 4, 2026.

Data to Nov 4, 2026.

USOY · 1 year to Nov 4, 2026 46.2 pts behind USO

USOY

+56.0%

USO

+102.2%

46.2 pts behind USO

USOY over 1 year: paid 51.6%, price −4.8%, total +56.0%, USO +102.2%, −46.2 pts. Data to Nov 4, 2026.

USO

+102.2%

USOY

+56.0%

51.6% of it arrived as cash

46.2 pts behind USO

Total return, distributions reinvested

46.2 pts behind USO

USOY over 1 year: paid 51.6%, price −4.8%, total +56.0%, USO +102.2%, −46.2 pts. Data to Nov 4, 2026.

USO

+102.2%

USOY

+56.0%

46.2 pts behind USO

51.6% of it arrived as cash. Both charts share one scale, with zero at the line. USOY over 1 year: paid 51.6%, price −4.8%, total +56.0%, USO +102.2%, −46.2 pts. Data to Nov 4, 2026.

Data to Nov 4, 2026.

Pair scorecard

EIPI costs 0.01 points a year less; their one-year returns differ by 34.2 points; EIPI is 13.9 times larger.

Points (pts) are percentage points.

EIPI vs USOY: Dividend Yield & Total Return
Measure	EIPI	USOY
Paid and earned
Measure	EIPI	USOY
Total return, 1 year	+21.8%	+56.0%
Price change, 1 year	rose 13.7%	fell 4.8%
Return of capital, issuer estimate	0% of the Oct 30, 2026 payment	96% of the Oct 30, 2026 payment
Against its benchmark
Measure	EIPI	USOY
Benchmark	its own holdings	United States Oil Fund, LP, measured through USO
Cost and size
Measure	EIPI	USOY
Expense ratio	1.11%	1.12%
Net assets, as of Nov 3, 2026	$1.1bn	$79m
Holdings
Measure	EIPI	USOY
Holdings in common	0%

ETFIQ Distribution Coverage Score · EIPI scores higher How much of what it paid out did its total return cover?

IQ Income Score95.5EIPI63.8USOY

How much of its payouts the fund's total return covered, ranked against 167 income ETFs not writing on a single company. 100 is best. How it is computed

EIPI 95.5

USOY 63.8

0.3, the lowest in this set 99.7, the highest

One year only, and a ratio of two published numbers: it says nothing about where a distribution came from. All income ETFs ranked by it →

Method

Risk and return

May 17, 2024 to Oct 30, 2026 · 128 weekly returns

EIPI USOY

Return

Total return edge USOY +50.9% +76.6%

Annualized edge USOY +18.2% +26.0%

Price return edge EIPI +21.6% −61.1%

Risk

Volatility edge EIPI 12.8% 28.0%

Max drawdown edge EIPI −8.8% −23.3%

Risk-adjusted

Sharpe edge EIPI 1.04 0.82

Sortino edge EIPI 1.50 1.22

Calmar edge EIPI 2.08 1.12

Reading

From May 2024 to Oct 2026, USOY returned more: +76.6% to +50.9%. EIPI swung less: 12.8% to 28.0%. EIPI fell less at its worst: −8.8% to −23.3%.

Full scorecard

9 measures, with how each is measured Open ↓

Risk and return: EIPI vs USOY: Dividend Yield & Total Return
Measure	EIPI	USOY	Edge	How it is measured
Return
Total return	+50.9%	+76.6%	USOY	Price change plus distributions, reinvested.
Annualized	+18.2%	+26.0%	USOY	Total return as a yearly rate.
Price return	+21.6%	−61.1%	EIPI	Price change alone, distributions left out.
Risk
Volatility	12.8%	28.0%	EIPI	Spread of weekly returns, annualized. Lower is steadier.
Downside deviation	8.9%	18.6%	EIPI	Like volatility, counting only weeks below the Treasury bill rate.
Max drawdown	−8.8%	−23.3%	EIPI	Deepest fall from a high to the low after it.
Risk-adjusted
Sharpe	1.04	0.82	EIPI	Return above Treasury bills per unit of volatility.
Sortino	1.50	1.22	EIPI	Return above Treasury bills per unit of downside deviation.
Calmar	2.08	1.12	EIPI	Annualized return divided by the max drawdown.

Computed by ETFIQ from Tiingo daily prices and ETFIQ's distribution records, 128 weekly returns. Cash rate: the 13-week Treasury bill.

What they share

By the books each fund has filed, EIPI and USOY hold 0% of their money in the same securities at the same weight. Holdings dated Aug 31, 2026 and Nov 3, 2026.

50%

0 half 100%

half

0% in common

Positions both hold · largest shared weight first EIPI USOY

Only in one fund ↓

Only in EIPI

Enterprise Products Partners L.P. 8.56%

Energy Transfer LP 6.48%

MPLX LP 4.47%

Kinder Morgan, Inc. 3.97%

ExxonMobil Holdings Corp. 3.53%

ONEOK, Inc. 3.03%

Shell plc (ADR) 2.79%

Duke Energy Corporation 2.58%

Only in USOY

US TREASURY N/B 18.88%

Check overlap with more funds →

Side by side

EIPI FT Energy Income Partners Enhanced Income ETF · Covered call on its own holdings, paying monthly USOY Defiance Oil Enhanced Options Income ETF · Option income on USO, paying weekly

Issuer First Trust Defiance

Strategy covered call option income

Benchmark EIPI's own holdings, without the options (from its filed holdings, rebalanced at each filing; latest Nov 2, 2026) United States Oil Fund, LP (USO)

Pays monthly weekly

Payout rate, annualized 6.8% 50.6%

Expense ratio 1.11% 1.12%

Cash paid, 1 year 7.7% 51.6%

Price change, 1 year +13.7% −4.8%

Total return, 1 year +21.8% +56.0%

Benchmark return, 1 year +25.6% +102.2%

Ahead or behind −3.8 pts −46.2 pts

Return of capital, latest estimate 0% 96%

Age 2.5 years 2.5 years

Net assets, as of Nov 3, 2026 $1.1bn $79m

As of Nov 4, 2026. Source: ETFIQ. Cash paid: distributions over the window, as a share of the starting price. Payout rate: the latest payment, annualized, over today’s price.

Window by window

Window by window: EIPI vs USOY: Dividend Yield & Total Return
	Total return		Cash paid		Against the benchmark
Window	EIPI	USOY	EIPI	USOY	EIPI	USOY
3 months	+2.2%	+14.8%	1.7%	12.6%	+0.3 pts	−11.8 pts
6 months	+2.5%	+1.8%	3.4%	20.9%	+1.1 pts	−6.8 pts
1 year	+21.8%	+56.0%	7.7%	51.6%	−3.7 pts	−46.1 pts
Since launchNot the same days: EIPI May 2024 · USOY May 2024	+49.6%	+55.7%	24.0%	83.8%	not measured	−37.4 pts

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About each fund

EIPI

Over the year to Nov 4, 2026, EIPI paid 7.7% of its starting value in cash distributions while its price rose 13.7%. With every distribution reinvested, the fund returned +21.8%. EIPI's own holdings, without the options (from its filed holdings, rebalanced at each filing; latest Nov 2, 2026) returned +25.6% over the same days, so a holder was behind by 3.8 pts. At its price on Nov 4, 2026 the latest distribution annualizes to 6.8%, paid monthly. First Trust estimates that 0% of the distribution paid Oct 30, 2026 was a return of capital (its 19a-1 notice). That is a tax label, not a measure of erosion.

USOY

Over the year to Nov 4, 2026, USOY paid 51.6% of its starting value in cash distributions while its price fell 4.8%. With every distribution reinvested, the fund returned +56.0%. United States Oil Fund, LP (USO) returned +102.2% over the same days, so a holder was behind by 46.2 pts. At its price on Nov 4, 2026 the latest distribution annualizes to 50.6%, paid weekly. Defiance estimates that 96% of the distribution paid Oct 30, 2026 was a return of capital (its 19a-1 notice).

Questions people ask

Which paid more, EIPI or USOY?: Over the year to Nov 4, 2026, EIPI paid 7.7% of its starting price in cash and USOY paid 51.6%, so USOY paid more. Cash paid is not the same as money made: the price change matters too.
Which returned more once distributions are counted, EIPI or USOY?: With every distribution reinvested, EIPI returned +21.8% and USOY +56.0% over the year to Nov 4, 2026.
Which is cheaper, EIPI or USOY?: EIPI charges 1.11% a year and USOY charges 1.12%, so EIPI is cheaper. Fees come from each fund's prospectus.

Other comparisons

EIPI vs XLUI EIPI vs WEEI EIPI vs SOXY EIPI vs XLYI USOY vs NUKX USOY vs WEPN USOY vs XLKI USOY vs XLSI

Where to next

United States Oil Fund →EIPI on its own →USOY on its own →EIPI dividend history →EIPI holdings →USOY dividend history →USOY holdings →Method →Standards and sources →

Sources and dates

EIPI filings on SEC EDGAR ↗

EIPI prospectus with the expense ratio (SEC) ↗

EIPI 19a-1 distribution notice ↗

First Trust page for EIPI ↗

USOY filings on SEC EDGAR ↗

USOY prospectus with the expense ratio (SEC) ↗

USOY 19a-1 distribution notice ↗

Defiance page for USOY ↗

Links are sources, not endorsements. A comparison is not a recommendation.

How this is computed

It is a place in a set, not a rating or a recommendation.

Overlap adds up the smaller of the two weights for each security both funds hold.

Every number is an ETFIQ calculation with distributions reinvested.

Cite this pageCitation, APA and Markdown

ETFIQ, EIPI against USOY, data as of Nov 4, 2026. https://etfiq.com/compare/income/eipi-vs-usoy

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