BUFP vs. OCTZ

Last updated Apr 1, 2026

Compare and contrast key facts about PGIM Laddered S&P 500 Buffer 12 ETF (BUFP) and TrueShares Structured Outcome (October) ETF (OCTZ).

BUFP and OCTZ are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. BUFP is a passively managed fund by PGIM that tracks the performance of the S&P 500. It was launched on Jun 11, 2024. OCTZ is an actively managed fund by TrueShares. It was launched on Sep 30, 2020.

Performance

BUFP vs. OCTZ - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in PGIM Laddered S&P 500 Buffer 12 ETF (BUFP) and TrueShares Structured Outcome (October) ETF (OCTZ). The values are adjusted to include any dividend payments, if applicable.

BUFP vs. OCTZ - Yearly Performance Comparison

	2026 (YTD)	2025	2024
BUFP PGIM Laddered S&P 500 Buffer 12 ETF	-1.34%	12.92%	6.36%
OCTZ TrueShares Structured Outcome (October) ETF	-3.41%	12.89%	6.64%

Returns By Period

In the year-to-date period, BUFP achieves a -1.34% return, which is significantly higher than OCTZ's -3.41% return.

BUFP

• 1D: 1.96%
• 1M: -2.04%
• YTD: -1.34%
• 6M: 1.19%
• 1Y: 13.58%
• 3Y*: —
• 5Y*: —
• 10Y*: —

OCTZ

• 1D: 2.03%
• 1M: -3.58%
• YTD: -3.41%
• 6M: -1.67%
• 1Y: 12.51%
• 3Y*: 13.32%
• 5Y*: 9.45%
• 10Y*: —

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

BUFP vs. OCTZ - Expense Ratio Comparison

BUFP has a 0.50% expense ratio, which is lower than OCTZ's 0.79% expense ratio.

OCTZ

TrueShares Structured Outcome (October) ETF

BUFP

PGIM Laddered S&P 500 Buffer 12 ETF

Return for Risk

BUFP vs. OCTZ — Risk / Return Rank

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

BUFP

BUFP Risk / Return Rank: 75
BUFP Sharpe Ratio Rank: 69
BUFP Sortino Ratio Rank: 73
BUFP Omega Ratio Rank: 81
BUFP Calmar Ratio Rank: 67
BUFP Martin Ratio Rank: 85

OCTZ

OCTZ Risk / Return Rank: 54
OCTZ Sharpe Ratio Rank: 50
OCTZ Sortino Ratio Rank: 52
OCTZ Omega Ratio Rank: 53
OCTZ Calmar Ratio Rank: 54
OCTZ Martin Ratio Rank: 61

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.

BUFP vs. OCTZ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for PGIM Laddered S&P 500 Buffer 12 ETF (BUFP) and TrueShares Structured Outcome (October) ETF (OCTZ). 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.

	BUFP	OCTZ	Difference
Sharpe ratio Return per unit of total volatility	1.23	0.92	+0.31
Sortino ratio Return per unit of downside risk	1.86	1.40	+0.46
Omega ratio Gain probability vs. loss probability	1.31	1.20	+0.11
Calmar ratio Return relative to maximum drawdown	1.71	1.41	+0.30
Martin ratio Return relative to average drawdown	9.81	6.21	+3.60
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

BUFP vs. OCTZ - Sharpe Ratio Comparison

The current BUFP Sharpe Ratio is 1.23, which is higher than the OCTZ Sharpe Ratio of 0.92. The chart below compares the historical Sharpe Ratios of BUFP and OCTZ, 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

	BUFP	OCTZ	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.23	0.92	+0.31
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.77	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.02	0.91	+0.11

Correlation

The correlation between BUFP and OCTZ is 0.92, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.

Dividends

BUFP vs. OCTZ - Dividend Comparison

BUFP's dividend yield for the trailing twelve months is around 0.01%, less than OCTZ's 4.13% yield.

	TTM	2025	2024	2023	2022
BUFP PGIM Laddered S&P 500 Buffer 12 ETF	0.01%	0.01%	0.02%	0.00%	0.00%
OCTZ TrueShares Structured Outcome (October) ETF	4.13%	3.99%	1.26%	3.28%	0.67%

Drawdowns

BUFP vs. OCTZ - Drawdown Comparison

The maximum BUFP drawdown since its inception was -11.98%, smaller than the maximum OCTZ drawdown of -15.82%. Use the drawdown chart below to compare losses from any high point for BUFP and OCTZ.

Drawdown Indicators

	BUFP	OCTZ	Difference
Max Drawdown Largest peak-to-trough decline	-11.98%	-15.82%	+3.84%
Max Drawdown (1Y) Largest decline over 1 year	-8.16%	-9.09%	+0.93%
Max Drawdown (5Y) Largest decline over 5 years	—	-15.82%	—
Current Drawdown Current decline from peak	-2.54%	-5.43%	+2.89%
Average Drawdown Average peak-to-trough decline	-1.08%	-3.23%	+2.15%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.42%	2.06%	-0.64%

Volatility

BUFP vs. OCTZ - Volatility Comparison

The current volatility for PGIM Laddered S&P 500 Buffer 12 ETF (BUFP) is 3.41%, while TrueShares Structured Outcome (October) ETF (OCTZ) has a volatility of 4.09%. This indicates that BUFP experiences smaller price fluctuations and is considered to be less risky than OCTZ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	BUFP	OCTZ	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.41%	4.09%	-0.68%
Volatility (6M) Calculated over the trailing 6-month period	4.99%	7.56%	-2.57%
Volatility (1Y) Calculated over the trailing 1-year period	11.11%	13.64%	-2.53%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	9.79%	12.41%	-2.62%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	9.79%	12.45%	-2.66%