Data as of .
SEMY vs USOY: which paid, and which earned it?
SEMY and USOY both write options for income.
What they hold in common
By the books each fund has filed, SEMY and USOY hold 41% of their money in the same securities at the same weight.
| Holding | SEMY | USOY |
|---|---|---|
| Treasury Bill | 50.64% | 41.16% |
| Only in SEMY | Only in USOY |
|---|---|
| Treasury Bill 49.36% | TREASURY BILL 25.51% |
| TREASURY BILL 23.15% | |
| TREASURY BILL 8.37% | |
| TREASURY BILL 1.80% |
Weight overlap is an ETFIQ calculation: for every security both funds hold, the smaller of the two weights, summed. Above 50%, holding both is close to holding one of them twice. Holdings dated Jun 30, 2026 and May 31, 2026.
Performance, window by window
| Window | Total return | Cash paid | Against the benchmark | |||
|---|---|---|---|---|---|---|
| SEMY | USOY | SEMY | USOY | SEMY | USOY | |
| 3 months | −4.8% | +22.6% | 17.4% | 11.6% | +8.4 pts | +2.1 pts |
| 6 months | +17.5% | +10.5% | 43.7% | 21.4% | −31.4 pts | +0.6 pts |
| 1 year | not published | +59.4% | not published | 47.6% | not published | +11.6 pts |
| Since launch | +33.9% | +67.0% | 71.5% | 81.9% | −38.5 pts | +19.9 pts |
| SEMY GraniteShares YieldBOOST Semiconductor ETF Synthetic covered call on SMH, paying weekly | USOY Defiance Oil Enhanced Options Income ETF Option income on XLE, paying weekly | |
|---|---|---|
| Issuer | GraniteShares | Defiance |
| Strategy | synthetic covered call | option income |
| Benchmark | Semiconductors (SMH) | Energy sector (XLE), used as the energy proxy |
| Pays | weekly | weekly |
| Payout rate, annualized | 67.3% | 46.8% |
| Expense ratio | 1.07% | 1.12% |
| Cash paid, 1 year | 71.5% (since launch on Nov 18, 2025) | 47.6% |
| Price change, 1 year | −48.7% | −4.8% |
| Total return, 1 year | +33.9% (since launch on Nov 18, 2025) | +59.4% |
| Benchmark return, 1 year | +72.5% | +47.8% |
| Ahead or behind | −38.5 pts | +11.6 pts |
| Return of capital, latest estimate | 98% | 95% |
| Age | 304 days | 861 days |
| Net assets | $49m | $75m |
SEMY in plain words
Over the period since launch on Nov 18, 2025 to Sep 18, 2026, SEMY paid 71.5% of its starting value in cash distributions while its price fell 48.7%. With every distribution reinvested, the fund returned +33.9%. Semiconductors (SMH) returned +72.5% over the same days, so a holder was behind by 38.5 pts. At its price on Sep 18, 2026 the latest distribution annualizes to 67.3%, paid weekly. GraniteShares estimates that 98% of the distribution paid Aug 25, 2026 was a return of capital (19a-1 notice, estimated, a tax characterization rather than a measure of erosion).
USOY in plain words
Over the year to Sep 18, 2026, USOY paid 47.6% of its starting value in cash distributions while its price fell 4.8%. With every distribution reinvested, the fund returned +59.4%. Energy sector (XLE), used as the energy proxy returned +47.8% over the same days, so a holder was ahead by 11.6 pts. At its price on Sep 18, 2026 the latest distribution annualizes to 46.8%, paid weekly. Defiance estimates that 95% of the distribution paid Sep 18, 2026 was a return of capital (19a-1 notice, estimated, a tax characterization rather than a measure of erosion).
Questions people ask
- Which is cheaper, SEMY or USOY?
- SEMY charges 1.07% a year and USOY charges 1.12%, so SEMY is cheaper. Fees come from each fund's prospectus.
Other comparisons
Where these figures came from
ETFIQ links to the documents behind every figure. It is not affiliated with any issuer, and a link is not an endorsement.
Cite this page. ETFIQ, SEMY against USOY, data as of Sep 18, 2026. https://etfiq.com/compare/income/semy-vs-usoy Free to use with attribution; the underlying files are at Open data.