APRB vs. MARZ

Last updated Jun 4, 2026

APRB (Aptus April Buffer ETF) and MARZ (TrueShares Structured Outcome (March) ETF) are both Defined Outcome funds. APRB is actively managed, while MARZ is passively managed. Their correlation of 0.94 suggests significant overlap in exposure. APRB charges 0.25%/yr vs 0.79%/yr for MARZ.

Performance

APRB vs. MARZ - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Aptus April Buffer ETF (APRB) and TrueShares Structured Outcome (March) ETF (MARZ). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, APRB achieves a 4.77% return, which is significantly lower than MARZ's 7.95% return.

APRB

• 1D: -0.11%
• 1M: 1.69%
• YTD: 4.77%
• 6M: 5.32%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

MARZ

• 1D: -0.48%
• 1M: 4.18%
• YTD: 7.95%
• 6M: 7.73%
• 1Y: 20.32%
• 3Y*: 16.16%
• 5Y*: 10.65%
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

APRB vs. MARZ - Yearly Performance Comparison

	2026 (YTD)	2025
APRB Aptus April Buffer ETF	4.77%	2.48%
MARZ TrueShares Structured Outcome (March) ETF	7.95%	2.22%

Correlation

The correlation between APRB and MARZ is 0.94, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (All Time) Calculated using the full available price history since Oct 15, 2025	0.94

Return for Risk

APRB vs. MARZ — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

MARZ

MARZ Risk / Return Rank: 62
MARZ Sharpe Ratio Rank: 63
MARZ Sortino Ratio Rank: 63
MARZ Omega Ratio Rank: 62
MARZ Calmar Ratio Rank: 56
MARZ Martin Ratio Rank: 65

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

APRB vs. MARZ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Aptus April Buffer ETF (APRB) and TrueShares Structured Outcome (March) ETF (MARZ). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

Sharpe Ratios by Period

	APRB	MARZ	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	2.10	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.87	—
Sharpe Ratio (All Time) Calculated using the full available price history	2.00	0.94	+1.06

Drawdowns

APRB vs. MARZ - Drawdown Comparison

The maximum APRB drawdown since its inception was -4.59%, smaller than the maximum MARZ drawdown of -18.89%. Use the drawdown chart below to compare losses from any high point for APRB and MARZ.

Drawdown Indicators

	APRB	MARZ	Difference
Max Drawdown Largest peak-to-trough decline	-4.59%	-18.89%	+14.30%
Max Drawdown (1Y) Largest decline over 1 year	—	-7.45%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-14.84%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-18.89%	—
Current Drawdown Current decline from peak	-0.11%	-0.48%	+0.37%
Average Drawdown Average peak-to-trough decline	-0.74%	-4.02%	+3.28%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	1.72%	—

Volatility

Volatility by Period

	APRB	MARZ	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	2.33%	—
Volatility (6M) Calculated over the trailing 6-month period	—	7.46%	—
Volatility (1Y) Calculated over the trailing 1-year period	5.98%	9.71%	-3.73%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	5.98%	12.29%	-6.31%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	5.98%	12.20%	-6.22%

APRB vs. MARZ - Expense Ratio Comparison

APRB has a 0.25% expense ratio, which is lower than MARZ's 0.79% expense ratio.

Dividends

APRB vs. MARZ - Dividend Comparison

APRB has not paid dividends to shareholders, while MARZ's dividend yield for the trailing twelve months is around 3.06%.

Position	TTM	2025	2024	2023	2022	2021
APRB Aptus April Buffer ETF	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
MARZ TrueShares Structured Outcome (March) ETF	3.06%	3.30%	4.55%	7.33%	0.78%	2.43%

Frequently Asked Questions

Can I hold both APRB and MARZ in my portfolio?

With a correlation of 0.94, APRB and MARZ move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which ETF is better, APRB or MARZ?

On fees, APRB is cheaper at 0.25% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, APRB or MARZ?

APRB is cheaper with a 0.25% expense ratio, compared with 0.79% for MARZ.

Which ETF pays a higher dividend yield, APRB or MARZ?

MARZ has the higher dividend yield at 3.06%, compared with 0.00% for APRB.

What is the main difference between APRB and MARZ?

They also come from different issuers: Aptus Capital Advisors and TrueShares. Their fees differ too: 0.25% for APRB and 0.79% for MARZ.