DIVZ vs. QBUL

Last updated Jun 3, 2026

DIVZ (Opal Dividend Income ETF) and QBUL (TrueShares Quarterly Bull Hedge ETF) are both exchange-traded funds - DIVZ is a Large Cap Value Equities fund actively managed by TrueShares, while QBUL is a Options Trading fund actively managed by TrueShares. Both are actively managed. Over the past year, DIVZ returned 10.65% vs 6.05% for QBUL. At a 0.28 correlation, their price movements are largely independent. DIVZ charges 0.65%/yr vs 0.79%/yr for QBUL.

Performance

DIVZ vs. QBUL - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Opal Dividend Income ETF (DIVZ) and TrueShares Quarterly Bull Hedge ETF (QBUL). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, DIVZ achieves a 3.37% return, which is significantly higher than QBUL's 2.81% return.

DIVZ

• 1D: 0.52%
• 1M: -0.98%
• YTD: 3.37%
• 6M: 4.40%
• 1Y: 10.65%
• 3Y*: 15.12%
• 5Y*: 8.50%
• 10Y*: —

QBUL

• 1D: 0.12%
• 1M: 1.73%
• YTD: 2.81%
• 6M: 2.73%
• 1Y: 6.05%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

DIVZ vs. QBUL - Yearly Performance Comparison

	2026 (YTD)	2025	2024
DIVZ Opal Dividend Income ETF	3.37%	16.72%	7.90%
QBUL TrueShares Quarterly Bull Hedge ETF	2.81%	4.87%	0.58%

Correlation

The correlation between DIVZ and QBUL is 0.24, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.24
Correlation (All Time) Calculated using the full available price history since Jul 2, 2024	0.28

Return for Risk

DIVZ vs. QBUL — Risk / Return Rank

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

DIVZ

DIVZ Risk / Return Rank: 33
DIVZ Sharpe Ratio Rank: 32
DIVZ Sortino Ratio Rank: 32
DIVZ Omega Ratio Rank: 29
DIVZ Calmar Ratio Rank: 38
DIVZ Martin Ratio Rank: 32

QBUL

QBUL Risk / Return Rank: 47
QBUL Sharpe Ratio Rank: 49
QBUL Sortino Ratio Rank: 51
QBUL Omega Ratio Rank: 50
QBUL Calmar Ratio Rank: 50
QBUL Martin Ratio Rank: 33

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.

DIVZ vs. QBUL - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Opal Dividend Income ETF (DIVZ) and TrueShares Quarterly Bull Hedge ETF (QBUL). 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.

	DIVZ	QBUL	Difference
Sharpe ratio Return per unit of total volatility	1.15	1.72	-0.57
Sortino ratio Return per unit of downside risk	1.71	2.53	-0.83
Omega ratio Gain probability vs. loss probability	1.20	1.32	-0.12
Calmar ratio Return relative to maximum drawdown	1.93	2.53	-0.60
Martin ratio Return relative to average drawdown	4.83	5.02	-0.19
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

DIVZ vs. QBUL - Sharpe Ratio Comparison

The current DIVZ Sharpe Ratio is 1.15, which is lower than the QBUL Sharpe Ratio of 1.72. The chart below compares the historical Sharpe Ratios of DIVZ and QBUL, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	DIVZ	QBUL	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.15	1.72	-0.57
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.68	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.89	1.15	-0.26

Drawdowns

DIVZ vs. QBUL - Drawdown Comparison

The maximum DIVZ drawdown since its inception was -15.42%, which is greater than QBUL's maximum drawdown of -2.45%. Use the drawdown chart below to compare losses from any high point for DIVZ and QBUL.

Drawdown Indicators

	DIVZ	QBUL	Difference
Max Drawdown Largest peak-to-trough decline	-15.42%	-2.45%	-12.97%
Max Drawdown (1Y) Largest decline over 1 year	-5.83%	-2.45%	-3.38%
Max Drawdown (3Y) Largest decline over 3 years	-9.52%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-15.42%	—	—
Current Drawdown Current decline from peak	-4.25%	0.00%	-4.25%
Average Drawdown Average peak-to-trough decline	-3.49%	-0.98%	-2.51%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.33%	1.24%	+1.09%

Volatility

DIVZ vs. QBUL - Volatility Comparison

Opal Dividend Income ETF (DIVZ) has a higher volatility of 3.49% compared to TrueShares Quarterly Bull Hedge ETF (QBUL) at 1.26%. This indicates that DIVZ's price experiences larger fluctuations and is considered to be riskier than QBUL based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	DIVZ	QBUL	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.49%	1.26%	+2.23%
Volatility (6M) Calculated over the trailing 6-month period	7.06%	2.23%	+4.83%
Volatility (1Y) Calculated over the trailing 1-year period	9.29%	3.53%	+5.76%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	12.65%	3.78%	+8.87%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	12.57%	3.78%	+8.79%

DIVZ vs. QBUL - Expense Ratio Comparison

DIVZ has a 0.65% expense ratio, which is lower than QBUL's 0.79% expense ratio.

Dividends

DIVZ vs. QBUL - Dividend Comparison

DIVZ's dividend yield for the trailing twelve months is around 2.59%, less than QBUL's 8.70% yield.

Position	TTM	2025	2024	2023	2022	2021
DIVZ Opal Dividend Income ETF	2.59%	2.60%	2.63%	3.66%	3.23%	3.83%
QBUL TrueShares Quarterly Bull Hedge ETF	8.70%	8.94%	1.82%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both DIVZ and QBUL in my portfolio?

DIVZ and QBUL have a correlation of 0.24, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, DIVZ or QBUL?

DIVZ has higher volatility (3.49%) compared to QBUL (1.26%). In terms of maximum drawdown, DIVZ dropped -15.42% vs QBUL's -2.45%.

Which ETF is better, DIVZ or QBUL?

On 1-year performance, DIVZ leads with 10.65% vs 6.05% for QBUL. On fees, DIVZ is cheaper at 0.65% per year. On volatility, QBUL has been the lower-risk option at 1.26%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, DIVZ or QBUL?

Over the 1-year period, DIVZ has performed better with a 10.65% return vs 6.05%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, DIVZ or QBUL?

DIVZ is cheaper with a 0.65% expense ratio, compared with 0.79% for QBUL.

Which ETF pays a higher dividend yield, DIVZ or QBUL?

QBUL has the higher dividend yield at 8.70%, compared with 2.59% for DIVZ.

What is the main difference between DIVZ and QBUL?

DIVZ is categorized as Large Cap Value Equities, while QBUL is Options Trading. Their fees differ too: 0.65% for DIVZ and 0.79% for QBUL.

Which has better risk-adjusted returns?

QBUL currently has the higher Sharpe Ratio (1.72 vs 1.15), 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.