AUGZ vs. DECZ

Last updated Jun 23, 2026

AUGZ (TrueShares Structured Outcome (August) ETF) and DECZ (TrueShares Structured Outcome (December) ETF) are both Defined Outcome funds from TrueShares - AUGZ tracks the S&P 500 Index while DECZ tracks the S&P 500. Both are passively managed. Over the past 5 years, AUGZ returned 10.53%/yr vs 10.97%/yr for DECZ. With a 0.97 correlation, they move nearly in lockstep. Both charge a 0.79% expense ratio.

Performance

AUGZ vs. DECZ - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in TrueShares Structured Outcome (August) ETF (AUGZ) and TrueShares Structured Outcome (December) ETF (DECZ). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both investments are quite close, with AUGZ having a 7.08% return and DECZ slightly higher at 7.12%.

AUGZ

• 1D: -0.39%
• 1M: 0.08%
• YTD: 7.08%
• 6M: 6.74%
• 1Y: 19.59%
• 3Y*: 15.58%
• 5Y*: 10.53%
• 10Y*: —

DECZ

• 1D: -0.36%
• 1M: 0.01%
• YTD: 7.12%
• 6M: 6.82%
• 1Y: 19.17%
• 3Y*: 15.39%
• 5Y*: 10.97%
• 10Y*: —

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

AUGZ vs. DECZ - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020
AUGZ TrueShares Structured Outcome (August) ETF	7.08%	13.49%	17.99%	17.32%	-10.41%	20.74%	3.03%
DECZ TrueShares Structured Outcome (December) ETF	7.12%	12.34%	18.89%	18.32%	-8.93%	20.15%	1.64%

Correlation

The correlation between AUGZ and DECZ is 0.96 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.96
Correlation (3Y) Calculated over the trailing 3-year period	0.96
Correlation (5Y) Calculated over the trailing 5-year period	0.97
Correlation (All Time) Calculated using the full available price history since Dec 1, 2020	0.97

The correlation between AUGZ and DECZ has been stable across timeframes, ranging from 0.96 to 0.97 - a consistent structural relationship.

Return for Risk

AUGZ vs. DECZ — Risk / Return Rank

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

AUGZ

AUGZ Risk / Return Rank: 60
AUGZ Sharpe Ratio Rank: 61
AUGZ Sortino Ratio Rank: 59
AUGZ Omega Ratio Rank: 60
AUGZ Calmar Ratio Rank: 57
AUGZ Martin Ratio Rank: 64

DECZ

DECZ Risk / Return Rank: 58
DECZ Sharpe Ratio Rank: 59
DECZ Sortino Ratio Rank: 58
DECZ Omega Ratio Rank: 58
DECZ Calmar Ratio Rank: 54
DECZ Martin Ratio Rank: 60

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.

AUGZ vs. DECZ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for TrueShares Structured Outcome (August) ETF (AUGZ) and TrueShares Structured Outcome (December) ETF (DECZ). 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.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

	AUGZ	DECZ	Difference
Sharpe ratio: Return per unit of total volatility	1.97	1.92	+0.05
Sortino ratio: Return per unit of downside risk	2.69	2.67	+0.02
Omega ratio: Gain probability vs. loss probability	1.35	1.35	+0.01
Calmar ratio: Return relative to maximum drawdown	2.72	2.56	+0.16
Martin ratio: Return relative to average drawdown	11.29	10.50	+0.79

AUGZ vs. DECZ - Sharpe Ratio Comparison

The current AUGZ Sharpe Ratio is 1.97, which is comparable to the DECZ Sharpe Ratio of 1.92. The chart below compares the historical Sharpe Ratios of AUGZ and DECZ, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

AUGZ vs. DECZ - Drawdown Comparison

The maximum AUGZ drawdown since its inception was -15.67%, smaller than the maximum DECZ drawdown of -16.57%. Use the drawdown chart below to compare losses from any high point for AUGZ and DECZ.

Drawdown Indicators

	AUGZ	DECZ	Difference
Max Drawdown Largest peak-to-trough decline	-15.67%	-16.57%	+0.90%
Max Drawdown (1Y) Largest decline over 1 year	-7.23%	-7.53%	+0.30%
Max Drawdown (3Y) Largest decline over 3 years	-14.52%	-14.24%	-0.28%
Max Drawdown (5Y) Largest decline over 5 years	-15.67%	-16.57%	+0.90%
Current Drawdown Current decline from peak	-1.64%	-1.47%	-0.17%
Average Drawdown Average peak-to-trough decline	-3.10%	-3.05%	-0.05%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.74%	1.83%	-0.09%

Volatility

AUGZ vs. DECZ - Volatility Comparison

TrueShares Structured Outcome (August) ETF (AUGZ) has a higher volatility of 3.84% compared to TrueShares Structured Outcome (December) ETF (DECZ) at 3.61%. This indicates that AUGZ's price experiences larger fluctuations and is considered to be riskier than DECZ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	AUGZ	DECZ	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.84%	3.61%	+0.23%
Volatility (6M) Calculated over the trailing 6-month period	7.95%	7.83%	+0.12%
Volatility (1Y) Calculated over the trailing 1-year period	10.02%	10.05%	-0.03%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	12.05%	12.67%	-0.62%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	12.14%	12.42%	-0.28%

AUGZ vs. DECZ - Expense Ratio Comparison

Both AUGZ and DECZ have an expense ratio of 0.79%.

Dividends

AUGZ vs. DECZ - Dividend Comparison

AUGZ's dividend yield for the trailing twelve months is around 3.39%, more than DECZ's 3.06% yield.

Position	TTM	2025	2024	2023	2022	2021
AUGZ TrueShares Structured Outcome (August) ETF	3.39%	3.63%	4.08%	3.42%	0.41%	0.00%
DECZ TrueShares Structured Outcome (December) ETF	3.06%	3.28%	2.55%	1.23%	1.44%	0.46%

Frequently Asked Questions

Can I hold both AUGZ and DECZ in my portfolio?

With a correlation of 0.96, AUGZ and DECZ 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 is riskier, AUGZ or DECZ?

AUGZ has higher volatility (3.84%) compared to DECZ (3.61%). In terms of maximum drawdown, AUGZ dropped -15.67% vs DECZ's -16.57%.

Which ETF is better, AUGZ or DECZ?

On 5-year performance, DECZ leads with 10.97% vs 10.53% for AUGZ. Both ETFs have the same 0.79% expense ratio. On volatility, DECZ has been the lower-risk option at 3.61%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, AUGZ or DECZ?

Over the 5-year period, DECZ has performed better with a 10.97% return vs 10.53%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, AUGZ or DECZ?

AUGZ and DECZ have the same expense ratio: 0.79% per year.

Which ETF pays a higher dividend yield, AUGZ or DECZ?

AUGZ has the higher dividend yield at 3.39%, compared with 3.06% for DECZ.

What is the main difference between AUGZ and DECZ?

AUGZ tracks S&P 500 Index, while DECZ tracks S&P 500.

Which has better risk-adjusted returns?

AUGZ currently has the higher Sharpe Ratio (1.97 vs 1.92), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.