Which paid more, USOY or XLVI?

Over the year to Nov 4, 2026, USOY paid 51.6% of its starting price in cash and XLVI paid 13.0%, 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, USOY or XLVI?

With every distribution reinvested, USOY returned +56.0% and XLVI +20.7% over the year to Nov 4, 2026.

Which is cheaper, USOY or XLVI?

USOY charges 1.12% a year and XLVI charges 0.35%, so XLVI is cheaper. Fees come from each fund's prospectus.

Data as of Nov 4, 2026.

Income ETFs

USOY vs XLVI: 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 XLVI’s 13.0%, and returned more with it reinvested.

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Net assets on Nov 3, 2026: $79m for Defiance Oil Enhanced Options Income ETF and $38m for State Street Health Care Select Sector SPDR Premium Income ETF.

USOY on its own →XLVI on its own →

At a glance

51.6%

USOY cash paid, 1 year

13.0%

XLVI cash paid, 1 year

+56.0%

USOY total return, 1 year

+20.7%

XLVI total return, 1 year

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. Total return, distributions reinvested. 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.

XLVI · 1 year to Nov 4, 2026 12.2 pts behind XLV

XLVI

+20.7%

XLV

+32.9%

12.2 pts behind XLV

XLVI over 1 year: paid 13.0%, price +6.1%, total +20.7%, XLV +32.9%, −12.2 pts. Data to Nov 4, 2026.

XLV

+32.9%

XLVI

+20.7%

12.2 pts behind XLV

Total return, distributions reinvested

12.2 pts behind XLV

XLVI over 1 year: paid 13.0%, price +6.1%, total +20.7%, XLV +32.9%, −12.2 pts. Data to Nov 4, 2026.

XLV

+32.9%

XLVI

+20.7%

12.2 pts behind XLV

13.0% of it arrived as cash. Both charts share one scale, with zero at the line. XLVI over 1 year: paid 13.0%, price +6.1%, total +20.7%, XLV +32.9%, −12.2 pts. Data to Nov 4, 2026.

Data to Nov 4, 2026.

Pair scorecard

XLVI costs 0.77 points a year less; their one-year returns differ by 35.3 points; USOY is 2.1 times larger.

Points (pts) are percentage points.

USOY vs XLVI: Dividend Yield & Total Return
Measure	USOY	XLVI
Paid and earned
Measure	USOY	XLVI
Total return, 1 year	+56.0%	+20.7%
Price change, 1 year	fell 4.8%	rose 6.1%
Return of capital, issuer estimate	96% of the Oct 30, 2026 payment	100% of the Nov 5, 2026 payment
Against its benchmark
Measure	USOY	XLVI
Benchmark	United States Oil Fund, LP, measured through USO	Health care sector, measured through XLV
Cost and size
Measure	USOY	XLVI
Expense ratio	1.12%	0.35%
Net assets, as of Nov 3, 2026	$79m	$38m
Holdings
Measure	USOY	XLVI
Holdings in common	0%

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

IQ Income Score63.8USOY79.3XLVI

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

USOY 63.8

XLVI 79.3

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

What they share

By the books each fund has filed, USOY and XLVI 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 USOY XLVI

Only in one fund ↓

Only in USOY

US TREASURY N/B 18.88%

Only in XLVI

STATE STREET HEALTH CARE SELEC 103.76%

STATE STREET HEALTH CARE SELEC NOV26 183 CALL -0.03%

STATE STREET HEALTH CARE SELEC NOV26 189 CALL -0.04%

STATE STREET HEALTH CARE SELEC NOV26 181 CALL -0.04%

STATE STREET HEALTH CARE SELEC NOV26 185 CALL -0.17%

STATE STREET HEALTH CARE SELEC NOV26 175 CALL -0.19%

STATE STREET HEALTH CARE SELEC NOV26 179 CALL -3.29%

Check overlap with more funds →

Side by side

USOY Defiance Oil Enhanced Options Income ETF · Option income on USO, paying weekly XLVI State Street Health Care Select Sector SPDR Premium Income ETF · Covered call on XLV, paying monthly

Issuer Defiance State Street

Strategy option income covered call

Benchmark United States Oil Fund, LP (USO) Health care sector (XLV)

Pays weekly monthly

Payout rate, annualized 50.6% 14.0%

Expense ratio 1.12% 0.35%

Cash paid, 1 year 51.6% 13.0%

Price change, 1 year −4.8% +6.1%

Total return, 1 year +56.0% +20.7%

Benchmark return, 1 year +102.2% +32.9%

Ahead or behind −46.2 pts −12.2 pts

Return of capital, latest estimate 96% 100%

Age 2.5 years 1.3 years

Net assets, as of Nov 3, 2026 $79m $38m

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: USOY vs XLVI: Dividend Yield & Total Return
	Total return		Cash paid		Against the benchmark
Window	USOY	XLVI	USOY	XLVI	USOY	XLVI
3 months	+14.8%	+6.8%	12.6%	3.5%	−11.8 pts	−9.2 pts
6 months	+1.8%	+18.1%	20.9%	6.5%	−6.8 pts	−13.4 pts
1 year	+56.0%	+20.7%	51.6%	13.0%	−46.1 pts	−12.2 pts
Since launchNot the same days: USOY May 2024 · XLVI Jul 2025	+55.7%	+29.9%	83.8%	17.2%	−37.4 pts	−14.4 pts

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Alert

About each fund

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). That is a tax label, not a measure of erosion.

XLVI

Over the year to Nov 4, 2026, XLVI paid 13.0% of its starting value in cash distributions while its price rose 6.1%. With every distribution reinvested, the fund returned +20.7%. Health care sector (XLV) returned +32.9% over the same days, so a holder was behind by 12.2 pts. At its price on Nov 4, 2026 the latest distribution annualizes to 14.0%, paid monthly. State Street estimates that 100% of the distribution paid Nov 5, 2026 was a return of capital (its 19a-1 notice).

Questions people ask

Which paid more, USOY or XLVI?: Over the year to Nov 4, 2026, USOY paid 51.6% of its starting price in cash and XLVI paid 13.0%, 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, USOY or XLVI?: With every distribution reinvested, USOY returned +56.0% and XLVI +20.7% over the year to Nov 4, 2026.
Which is cheaper, USOY or XLVI?: USOY charges 1.12% a year and XLVI charges 0.35%, so XLVI is cheaper. Fees come from each fund's prospectus.

Other comparisons

USOY vs XLUI USOY vs HAKY USOY vs XLFI USOY vs XLBI XLVI vs XLYI XLVI vs MDST XLVI vs AIPI XLVI vs BIOY

Where to next

United States Oil Fund →Health care sector (XLV) →USOY on its own →XLVI on its own →USOY dividend history →USOY holdings →XLVI dividend history →XLVI holdings →Method →Standards and sources →

Sources and dates

USOY filings on SEC EDGAR ↗

USOY prospectus with the expense ratio (SEC) ↗

USOY 19a-1 distribution notice ↗

Defiance page for USOY ↗

XLVI filings on SEC EDGAR ↗

XLVI prospectus with the expense ratio (SEC) ↗

XLVI 19a-1 distribution notice ↗

State Street website ↗

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.

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

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