DECZ vs. PVEX

Last updated Jun 24, 2026

DECZ (TrueShares Structured Outcome (December) ETF) and PVEX (TrueShares ConVequity ETF) are both exchange-traded funds - DECZ is a Defined Outcome fund tracking the S&P 500, while PVEX is a Large Cap Blend Equities fund managed by TrueShares. Their correlation of 0.91 suggests significant overlap in exposure. DECZ charges 0.79%/yr vs 0.82%/yr for PVEX.

Performance

DECZ vs. PVEX - Performance Comparison

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

Returns By Period

In the year-to-date period, DECZ achieves a 5.98% return, which is significantly lower than PVEX's 7.08% return.

DECZ

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

PVEX

• 1D: -0.28%
• 1M: -0.96%
• YTD: 7.08%
• 6M: 6.55%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

DECZ vs. PVEX - Yearly Performance Comparison

	2026 (YTD)	2025
DECZ TrueShares Structured Outcome (December) ETF	5.98%	8.51%
PVEX TrueShares ConVequity ETF	7.08%	13.68%

Correlation

The correlation between DECZ and PVEX is 0.91, 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 Jun 30, 2025	0.91

Return for Risk

DECZ vs. PVEX — 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

PVEX

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. PVEX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for TrueShares Structured Outcome (December) ETF (DECZ) and TrueShares ConVequity ETF (PVEX). 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	PVEX	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. PVEX - Drawdown Comparison

The maximum DECZ drawdown since its inception was -16.57%, which is greater than PVEX's maximum drawdown of -7.63%. Use the drawdown chart below to compare losses from any high point for DECZ and PVEX.

Drawdown Indicators

	DECZ	PVEX	Difference
Max Drawdown Largest peak-to-trough decline	-16.57%	-7.63%	-8.94%
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%	-3.17%	+0.65%
Average Drawdown Average peak-to-trough decline	-3.05%	-1.95%	-1.10%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.84%	—	—

Volatility

Volatility by Period

	DECZ	PVEX	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%	15.27%	-5.18%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	12.67%	15.27%	-2.60%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	12.42%	15.27%	-2.85%

DECZ vs. PVEX - Expense Ratio Comparison

DECZ has a 0.79% expense ratio, which is lower than PVEX's 0.82% expense ratio.

Dividends

DECZ vs. PVEX - Dividend Comparison

DECZ's dividend yield for the trailing twelve months is around 3.09%, more than PVEX's 0.18% yield.

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%
PVEX TrueShares ConVequity ETF	0.18%	0.19%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both DECZ and PVEX in my portfolio?

With a correlation of 0.91, DECZ and PVEX 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, DECZ or PVEX?

On fees, DECZ is cheaper at 0.79% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, DECZ or PVEX?

DECZ is cheaper with a 0.79% expense ratio, compared with 0.82% for PVEX.

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

DECZ has the higher dividend yield at 3.09%, compared with 0.18% for PVEX.

What is the main difference between DECZ and PVEX?

DECZ is categorized as Defined Outcome, while PVEX is Large Cap Blend Equities. Their fees differ too: 0.79% for DECZ and 0.82% for PVEX.