AUGZ vs. ERNZ

Last updated Apr 1, 2026

Compare and contrast key facts about TrueShares Structured Outcome (August) ETF (AUGZ) and TrueShares Active Yield ETF (ERNZ).

AUGZ and ERNZ are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. AUGZ is a passively managed fund by TrueShares that tracks the performance of the S&P 500 Index. It was launched on Jul 31, 2020. ERNZ is an actively managed fund by TrueShares. It was launched on Apr 30, 2024.

Performance

AUGZ vs. ERNZ - Performance Comparison

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

AUGZ vs. ERNZ - Yearly Performance Comparison

	2026 (YTD)	2025	2024
AUGZ TrueShares Structured Outcome (August) ETF	-3.85%	13.49%	13.45%
ERNZ TrueShares Active Yield ETF	4.89%	-6.50%	3.43%

Returns By Period

In the year-to-date period, AUGZ achieves a -3.85% return, which is significantly lower than ERNZ's 4.89% return.

AUGZ

• 1D: 2.03%
• 1M: -3.88%
• YTD: -3.85%
• 6M: -2.07%
• 1Y: 12.76%
• 3Y*: 12.91%
• 5Y*: 9.16%
• 10Y*: —

ERNZ

• 1D: 0.00%
• 1M: -1.57%
• YTD: 4.89%
• 6M: -1.10%
• 1Y: -0.33%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

AUGZ vs. ERNZ - Expense Ratio Comparison

AUGZ has a 0.79% expense ratio, which is higher than ERNZ's 0.75% expense ratio.

AUGZ

TrueShares Structured Outcome (August) ETF

ERNZ

TrueShares Active Yield ETF

Return for Risk

AUGZ vs. ERNZ — Risk / Return Rank

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

AUGZ

AUGZ Risk / Return Rank: 55
AUGZ Sharpe Ratio Rank: 52
AUGZ Sortino Ratio Rank: 54
AUGZ Omega Ratio Rank: 56
AUGZ Calmar Ratio Rank: 53
AUGZ Martin Ratio Rank: 62

ERNZ

ERNZ Risk / Return Rank: 11
ERNZ Sharpe Ratio Rank: 11
ERNZ Sortino Ratio Rank: 10
ERNZ Omega Ratio Rank: 10
ERNZ Calmar Ratio Rank: 12
ERNZ Martin Ratio Rank: 12

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. ERNZ - Risk-Adjusted Trends Comparison

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

	AUGZ	ERNZ	Difference
Sharpe ratio Return per unit of total volatility	0.94	-0.02	+0.96
Sortino ratio Return per unit of downside risk	1.42	0.06	+1.36
Omega ratio Gain probability vs. loss probability	1.21	1.01	+0.20
Calmar ratio Return relative to maximum drawdown	1.36	0.02	+1.34
Martin ratio Return relative to average drawdown	6.15	0.04	+6.11
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

AUGZ vs. ERNZ - Sharpe Ratio Comparison

The current AUGZ Sharpe Ratio is 0.94, which is higher than the ERNZ Sharpe Ratio of -0.02. The chart below compares the historical Sharpe Ratios of AUGZ and ERNZ, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	AUGZ	ERNZ	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.94	-0.02	+0.96
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.77	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.92	0.06	+0.86

Correlation

The correlation between AUGZ and ERNZ is 0.58, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.

Dividends

AUGZ vs. ERNZ - Dividend Comparison

AUGZ's dividend yield for the trailing twelve months is around 3.77%, less than ERNZ's 7.91% yield.

	TTM	2025	2024	2023	2022
AUGZ TrueShares Structured Outcome (August) ETF	3.77%	3.63%	4.08%	3.42%	0.41%
ERNZ TrueShares Active Yield ETF	7.91%	9.90%	5.51%	0.00%	0.00%

Drawdowns

AUGZ vs. ERNZ - Drawdown Comparison

The maximum AUGZ drawdown since its inception was -15.67%, which is greater than ERNZ's maximum drawdown of -14.16%. Use the drawdown chart below to compare losses from any high point for AUGZ and ERNZ.

Drawdown Indicators

	AUGZ	ERNZ	Difference
Max Drawdown Largest peak-to-trough decline	-15.67%	-14.16%	-1.51%
Max Drawdown (1Y) Largest decline over 1 year	-9.14%	-10.61%	+1.47%
Max Drawdown (5Y) Largest decline over 5 years	-15.67%	—	—
Current Drawdown Current decline from peak	-5.35%	-5.59%	+0.24%
Average Drawdown Average peak-to-trough decline	-3.18%	-4.49%	+1.31%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.01%	4.94%	-2.93%

Volatility

AUGZ vs. ERNZ - Volatility Comparison

TrueShares Structured Outcome (August) ETF (AUGZ) has a higher volatility of 4.07% compared to TrueShares Active Yield ETF (ERNZ) at 1.57%. This indicates that AUGZ's price experiences larger fluctuations and is considered to be riskier than ERNZ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	AUGZ	ERNZ	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.07%	1.57%	+2.50%
Volatility (6M) Calculated over the trailing 6-month period	7.53%	6.86%	+0.67%
Volatility (1Y) Calculated over the trailing 1-year period	13.68%	13.69%	-0.01%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	11.98%	12.30%	-0.32%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	12.17%	12.30%	-0.13%