DECZ vs. QBER

Last updated Aug 4, 2026

DECZ (TrueShares Structured Outcome (December) ETF) and QBER (TrueShares Quarterly Bear Hedge ETF) are both exchange-traded funds - DECZ is a Defined Outcome fund tracking the S&P 500, while QBER is a Options Trading fund actively managed by TrueShares. DECZ is passively managed, while QBER is actively managed. Over the past year, DECZ returned 16.70% vs -1.05% for QBER. Their -0.51 correlation means they have often moved in opposite directions in the past. Both charge a 0.79% expense ratio.

Performance

DECZ vs. QBER - Performance Comparison

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

Returns By Period

In the year-to-date period, DECZ achieves a 8.46% return, which is significantly higher than QBER's -0.83% return.

DECZ

• 1D: 1.08%
• 1M: 1.27%
• 6M: 6.91%
• YTD: 8.46%
• 1Y: 16.70%
• 3Y*: 15.04%
• 5Y*: 10.60%
• 10Y*: —
• ALL TIME*: 12.05%

QBER

• 1D: -0.31%
• 1M: 0.08%
• 6M: -0.08%
• YTD: -0.83%
• 1Y: -1.05%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: -0.26%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
DECZ TrueShares Structured Outcome (December) ETF	$210.48K	$113.76K	$97.74K
QBER TrueShares Quarterly Bear Hedge ETF	$460.54K	$316.09K	$665.79K

DECZ vs. QBER - Yearly Performance Comparison

	2026 (YTD)	2025	2024
DECZ TrueShares Structured Outcome (December) ETF	8.46%	12.34%	6.68%
QBER TrueShares Quarterly Bear Hedge ETF	-0.83%	0.25%	0.04%

Correlation

The correlation between DECZ and QBER is -0.51, meaning they have often moved in opposite directions in the past. This relationship can weaken or reverse as market conditions change.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	-0.51
Correlation (All Time) Calculated using the full available price history since Jul 1, 2024	-0.51

The correlation between DECZ and QBER has been stable across timeframes, ranging from -0.51 to -0.51 - a consistent structural relationship.

Return for Risk

DECZ vs. QBER — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

DECZ

DECZ Risk / Return Rank: 63
DECZ Sharpe Ratio Rank: 64
DECZ Sortino Ratio Rank: 64
DECZ Omega Ratio Rank: 61
DECZ Calmar Ratio Rank: 60
DECZ Martin Ratio Rank: 67

QBER

QBER Risk / Return Rank: 6
QBER Sharpe Ratio Rank: 7
QBER Sortino Ratio Rank: 6
QBER Omega Ratio Rank: 6
QBER Calmar Ratio Rank: 5
QBER Martin Ratio Rank: 5

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

DECZ vs. QBER - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for TrueShares Structured Outcome (December) ETF (DECZ) and TrueShares Quarterly Bear Hedge ETF (QBER). 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	QBER	Difference
Sharpe ratio: Return per unit of total volatility	1.60	-0.27	+1.87
Sortino ratio: Return per unit of downside risk	2.27	-0.36	+2.63
Omega ratio: Gain probability vs. loss probability	1.28	0.96	+0.32
Calmar ratio: Return relative to maximum drawdown	2.23	-0.45	+2.68
Martin ratio: Return relative to average drawdown	8.68	-0.89	+9.56

DECZ vs. QBER - Sharpe Ratio Comparison

The current DECZ Sharpe Ratio is 1.60, which is higher than the QBER Sharpe Ratio of -0.27. The chart below compares the historical Sharpe Ratios of DECZ and QBER, 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

DECZ vs. QBER - Drawdown Comparison

The maximum DECZ drawdown since its inception was -16.57%, which is greater than QBER's maximum drawdown of -5.72%. Use the drawdown chart below to compare losses from any high point for DECZ and QBER.

Drawdown Indicators

	DECZ	QBER	Difference
Max Drawdown Largest peak-to-trough decline	-16.57%	-5.72%	-10.85%
Max Drawdown (1Y) Largest decline over 1 year	-7.53%	-2.35%	-5.18%
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	-0.23%	-5.56%	+5.33%
Average Drawdown Average peak-to-trough decline	-3.02%	-4.75%	+1.73%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.93%	1.22%	+0.71%

Volatility

DECZ vs. QBER - Volatility Comparison

TrueShares Structured Outcome (December) ETF (DECZ) has a higher volatility of 3.06% compared to TrueShares Quarterly Bear Hedge ETF (QBER) at 1.14%. This indicates that DECZ's price experiences larger fluctuations and is considered to be riskier than QBER based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	DECZ	QBER	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.06%	1.14%	+1.92%
Volatility (6M) Calculated over the trailing 6-month period	8.20%	2.94%	+5.26%
Volatility (1Y) Calculated over the trailing 1-year period	10.51%	3.85%	+6.66%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	12.71%	6.24%	+6.47%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	12.39%	6.24%	+6.15%

DECZ vs. QBER - Expense Ratio Comparison

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

Dividends

DECZ vs. QBER - Dividend Comparison

DECZ's dividend yield for the trailing twelve months is around 3.02%, less than QBER's 3.29% yield.

Position	TTM	2025	2024	2023	2022	2021
DECZ TrueShares Structured Outcome (December) ETF	3.02%	3.28%	2.55%	1.23%	1.44%	0.46%
QBER TrueShares Quarterly Bear Hedge ETF	3.29%	3.26%	1.35%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both DECZ and QBER in my portfolio?

DECZ and QBER have a correlation of -0.51, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, DECZ or QBER?

DECZ has higher volatility (3.06%) compared to QBER (1.14%). In terms of maximum drawdown, DECZ dropped -16.57% vs QBER's -5.72%.

Which ETF is better, DECZ or QBER?

On 1-year performance, DECZ leads with 16.70% vs -1.05% for QBER. Both ETFs have the same 0.79% expense ratio. On volatility, QBER has been the lower-risk option at 1.14%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, DECZ or QBER?

Over the 1-year period, DECZ has performed better with a 16.70% return vs -1.05%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, DECZ or QBER?

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

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

QBER has the higher dividend yield at 3.29%, compared with 3.02% for DECZ.

What is the main difference between DECZ and QBER?

DECZ is categorized as Defined Outcome, while QBER is Options Trading.

Which has better risk-adjusted returns?

DECZ currently has the higher Sharpe Ratio (1.60 vs -0.27), 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.