DECZ vs. ONEH

Last updated Jun 24, 2026

DECZ (TrueShares Structured Outcome (December) ETF) and ONEH (TrueShares Equity Hedge ETF) are both exchange-traded funds - DECZ is a Defined Outcome fund tracking the S&P 500, while ONEH is a Equity Hedged fund actively managed by TrueShares. DECZ is passively managed, while ONEH is actively managed. At a 0.16 correlation, their price movements are largely independent. Both charge a 0.79% expense ratio.

Performance

DECZ vs. ONEH - Performance Comparison

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

Returns By Period

DECZ

• 1D: -1.06%
• 1M: -1.05%
• YTD: 5.98%
• 6M: 5.37%
• 1Y: 17.05%
• 3Y*: 14.98%
• 5Y*: 10.64%
• 10Y*: —

ONEH

• 1D: 0.14%
• 1M: 0.90%
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

DECZ vs. ONEH - Yearly Performance Comparison

	2026 (YTD)
DECZ TrueShares Structured Outcome (December) ETF	3.69%
ONEH TrueShares Equity Hedge ETF	-1.06%

Correlation

The correlation between DECZ and ONEH is 0.16, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (All Time) Calculated using the full available price history since Jan 29, 2026	0.16

Return for Risk

DECZ vs. ONEH — Risk / Return Rank

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

DECZ

DECZ Risk / Return Rank: 53
DECZ Sharpe Ratio Rank: 54
DECZ Sortino Ratio Rank: 53
DECZ Omega Ratio Rank: 52
DECZ Calmar Ratio Rank: 50
DECZ Martin Ratio Rank: 57

ONEH

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

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.

DECZ vs. ONEH - Risk-Adjusted Trends Comparison

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

	DECZ	ONEH	Difference
Sharpe ratio: Return per unit of total volatility	1.70	—	—
Sortino ratio: Return per unit of downside risk	2.38	—	—
Omega ratio: Gain probability vs. loss probability	1.31	—	—
Calmar ratio: Return relative to maximum drawdown	2.27	—	—
Martin ratio: Return relative to average drawdown	9.30	—	—

Drawdowns

DECZ vs. ONEH - Drawdown Comparison

The maximum DECZ drawdown since its inception was -16.57%, which is greater than ONEH's maximum drawdown of -3.55%. Use the drawdown chart below to compare losses from any high point for DECZ and ONEH.

Drawdown Indicators

	DECZ	ONEH	Difference
Max Drawdown Largest peak-to-trough decline	-16.57%	-3.55%	-13.02%
Max Drawdown (1Y) Largest decline over 1 year	-7.53%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-14.24%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-16.57%	—	—
Current Drawdown Current decline from peak	-2.52%	-1.06%	-1.46%
Average Drawdown Average peak-to-trough decline	-3.05%	-1.50%	-1.55%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.84%	—	—

Volatility

Volatility by Period

	DECZ	ONEH	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.77%	—	—
Volatility (6M) Calculated over the trailing 6-month period	7.89%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	10.09%	5.36%	+4.73%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	12.67%	5.36%	+7.31%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	12.42%	5.36%	+7.06%

DECZ vs. ONEH - Expense Ratio Comparison

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

Dividends

DECZ vs. ONEH - Dividend Comparison

DECZ's dividend yield for the trailing twelve months is around 3.09%, while ONEH has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021
DECZ TrueShares Structured Outcome (December) ETF	3.09%	3.28%	2.55%	1.23%	1.44%	0.46%
ONEH TrueShares Equity Hedge ETF	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both DECZ and ONEH in my portfolio?

DECZ and ONEH have a correlation of 0.16, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, DECZ or ONEH?

Both ETFs have the same 0.79% expense ratio. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, DECZ or ONEH?

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

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

DECZ has the higher dividend yield at 3.09%, compared with 0.00% for ONEH.

What is the main difference between DECZ and ONEH?

DECZ is categorized as Defined Outcome, while ONEH is Equity Hedged.