Which paid more, MLPD or USOY?

Over the year to Nov 4, 2026, MLPD paid 14.1% 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, MLPD or USOY?

With every distribution reinvested, MLPD returned +15.4% and USOY +56.0% over the year to Nov 4, 2026.

Which is cheaper, MLPD or USOY?

MLPD charges 0.60% a year and USOY charges 1.12%, so MLPD is cheaper. Fees come from each fund's prospectus.

Data as of Nov 4, 2026.

Income ETFs

MLPD 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 MLPD’s 14.1%, and returned more with it reinvested.

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Net assets: $26m on Oct 12, 2026 for Global X MLP & Energy Infrastructure Covered Call ETF, and $79m on Nov 3, 2026 for Defiance Oil Enhanced Options Income ETF.

MLPD on its own →USOY on its own →

At a glance

14.1%

MLPD cash paid, 1 year

51.6%

USOY cash paid, 1 year

+15.4%

MLPD total return, 1 year

+56.0%

USOY total return, 1 year

MLPD · 1 year to Nov 4, 2026 Not measured

MLPD

+15.4%

none

Not measured

MLPD over 1 year: paid 14.1%, price +0.6%, total +15.4%, not measured against a benchmark. Data to Nov 4, 2026.

MLPD

+15.4%

14.1% cash

Total return, distributions reinvested

Not measured

MLPD over 1 year: paid 14.1%, price +0.6%, total +15.4%, not measured against a benchmark. Data to Nov 4, 2026.

MLPD

+15.4%

14.1% of it arrived as cash. Total return, distributions reinvested. MLPD over 1 year: paid 14.1%, price +0.6%, total +15.4%, not measured against a benchmark. 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

MLPD costs 0.52 points a year less; their one-year returns differ by 40.6 points; USOY is 2.8 times larger.

Points (pts) are percentage points.

MLPD vs USOY: Dividend Yield & Total Return
Measure	MLPD	USOY
Paid and earned
Measure	MLPD	USOY
Total return, 1 year	+15.4%	+56.0%
Price change, 1 year	rose 0.6%	fell 4.8%
Return of capital, issuer estimate	100% of the Sep 24, 2026 payment	96% of the Oct 30, 2026 payment
Against its benchmark
Measure	MLPD	USOY
Benchmark	not published	United States Oil Fund, LP, measured through USO
Cost and size
Measure	MLPD	USOY
Expense ratio	0.60%	1.12%
Net assets, as of Oct 12, 2026	$26m	$74m
Holdings
Measure	MLPD	USOY
Holdings in common	0%

Method

Risk and return

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

MLPD USOY

Return

Total return edge USOY +34.3% +76.6%

Annualized edge USOY +12.7% +26.0%

Price return edge MLPD −0.5% −61.1%

Risk

Volatility edge MLPD 10.2% 28.0%

Max drawdown edge MLPD −9.7% −23.3%

Risk-adjusted

Sharpe edge Tie 0.81 0.82

Sortino edge USOY 1.03 1.22

Calmar edge MLPD 1.31 1.12

Reading

From May 2024 to Oct 2026, USOY returned more: +76.6% to +34.3%. MLPD swung less: 10.2% to 28.0%. MLPD fell less at its worst: −9.7% to −23.3%.

Full scorecard

9 measures, with how each is measured Open ↓

Risk and return: MLPD vs USOY: Dividend Yield & Total Return
Measure	MLPD	USOY	Edge	How it is measured
Return
Total return	+34.3%	+76.6%	USOY	Price change plus distributions, reinvested.
Annualized	+12.7%	+26.0%	USOY	Total return as a yearly rate.
Price return	−0.5%	−61.1%	MLPD	Price change alone, distributions left out.
Risk
Volatility	10.2%	28.0%	MLPD	Spread of weekly returns, annualized. Lower is steadier.
Downside deviation	8.0%	18.6%	MLPD	Like volatility, counting only weeks below the Treasury bill rate.
Max drawdown	−9.7%	−23.3%	MLPD	Deepest fall from a high to the low after it.
Risk-adjusted
Sharpe	0.81	0.82	Tie	Return above Treasury bills per unit of volatility.
Sortino	1.03	1.22	USOY	Return above Treasury bills per unit of downside deviation.
Calmar	1.31	1.12	MLPD	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, MLPD and USOY hold 0% of their money in the same securities at the same weight. Holdings dated Jul 31, 2026 and Aug 31, 2026.

50%

0 half 100%

half

0% in common

Positions both hold · largest shared weight first MLPD USOY

Only in one fund ↓

Only in MLPD

Global X MLP & Energy Infrastructure ETF 101.03%

Only in USOY

US TREASURY N/B 18.88%

Check overlap with more funds →

Side by side

MLPD Global X MLP & Energy Infrastructure Covered Call ETF · Covered call, paying monthly USOY Defiance Oil Enhanced Options Income ETF · Option income on USO, paying weekly

Issuer Global X Defiance

Strategy covered call option income

Benchmark none United States Oil Fund, LP (USO)

Pays monthly weekly

Payout rate, annualized 12.2% 50.6%

Expense ratio 0.60% 1.12%

Cash paid, 1 year 14.1% 51.6%

Price change, 1 year +0.6% −4.8%

Total return, 1 year +15.4% +56.0%

Benchmark return, 1 year not published +102.2%

Ahead or behind not available −46.2 pts

Return of capital, latest estimate 100% 96%

Age 2.5 years 2.5 years

Net assets, MLPD as of Oct 12, 2026 and USOY as of Nov 3, 2026 $26m $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: MLPD vs USOY: Dividend Yield & Total Return
	Total return		Cash paid		Against the benchmark
Window	MLPD	USOY	MLPD	USOY	MLPD	USOY
3 months	+3.6%	+14.8%	3.1%	12.6%	not measured	−11.8 pts
6 months	+3.4%	+1.8%	6.0%	20.9%	not measured	−6.8 pts
1 year	+15.4%	+56.0%	14.1%	51.6%	not measured	−46.1 pts
Since launchNot the same days: MLPD May 2024 · USOY May 2024	+32.7%	+55.7%	30.2%	83.8%	not measured	−37.4 pts

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About each fund

MLPD

Over the year to Nov 4, 2026, MLPD paid 14.1% of its starting value in cash distributions while its price rose 0.6%. With every distribution reinvested, the fund returned +15.4%. At its price on Nov 4, 2026 the latest distribution annualizes to 12.2%, paid monthly. Global X estimates that 100% of the distribution paid Sep 24, 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, MLPD or USOY?: Over the year to Nov 4, 2026, MLPD paid 14.1% 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, MLPD or USOY?: With every distribution reinvested, MLPD returned +15.4% and USOY +56.0% over the year to Nov 4, 2026.
Which is cheaper, MLPD or USOY?: MLPD charges 0.60% a year and USOY charges 1.12%, so MLPD is cheaper. Fees come from each fund's prospectus.

Other comparisons

MLPD vs TYLG MLPD vs XLUI MLPD vs WEEI MLPD vs SOXY USOY vs XLSI USOY vs NDIV USOY vs SEMY USOY vs XLKI

Where to next

United States Oil Fund →All income ETFs ranked by the Distribution Coverage Score →How the scores are computed →MLPD on its own →USOY on its own →MLPD dividend history →MLPD holdings →USOY dividend history →USOY holdings →Method →Standards and sources →

Sources and dates

MLPD filings on SEC EDGAR ↗

MLPD prospectus with the expense ratio (SEC) ↗

MLPD 19a-1 distribution notice ↗

Global X page for MLPD ↗

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

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

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