DIVZ vs. TBG

Last updated Apr 1, 2026

Compare and contrast key facts about Opal Dividend Income ETF (DIVZ) and TBG Dividend Focus ETF (TBG).

DIVZ and TBG are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. DIVZ is an actively managed fund by TrueShares. It was launched on Jan 27, 2021. TBG is an actively managed fund by EA Series Trust. It was launched on Nov 6, 2023.

Performance

DIVZ vs. TBG - Performance Comparison

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

DIVZ vs. TBG - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
DIVZ Opal Dividend Income ETF	3.04%	16.72%	18.44%	6.02%
TBG TBG Dividend Focus ETF	5.08%	7.50%	20.58%	9.66%

Returns By Period

In the year-to-date period, DIVZ achieves a 3.04% return, which is significantly lower than TBG's 5.08% return.

DIVZ

• 1D: 0.18%
• 1M: -4.56%
• YTD: 3.04%
• 6M: 3.75%
• 1Y: 12.65%
• 3Y*: 13.65%
• 5Y*: 9.87%
• 10Y*: —

TBG

• 1D: 0.87%
• 1M: -4.29%
• YTD: 5.08%
• 6M: 7.01%
• 1Y: 9.65%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

DIVZ vs. TBG - Expense Ratio Comparison

DIVZ has a 0.65% expense ratio, which is higher than TBG's 0.59% expense ratio.

DIVZ

Opal Dividend Income ETF

TBG

TBG Dividend Focus ETF

Return for Risk

DIVZ vs. TBG — Risk / Return Rank

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

DIVZ

DIVZ Risk / Return Rank: 62
DIVZ Sharpe Ratio Rank: 62
DIVZ Sortino Ratio Rank: 58
DIVZ Omega Ratio Rank: 59
DIVZ Calmar Ratio Rank: 64
DIVZ Martin Ratio Rank: 68

TBG

TBG Risk / Return Rank: 38
TBG Sharpe Ratio Rank: 39
TBG Sortino Ratio Rank: 37
TBG Omega Ratio Rank: 38
TBG Calmar Ratio Rank: 37
TBG Martin Ratio Rank: 39

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. TBG - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Opal Dividend Income ETF (DIVZ) and TBG Dividend Focus ETF (TBG). 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	TBG	Difference
Sharpe ratio Return per unit of total volatility	1.06	0.68	+0.37
Sortino ratio Return per unit of downside risk	1.47	1.02	+0.45
Omega ratio Gain probability vs. loss probability	1.21	1.15	+0.07
Calmar ratio Return relative to maximum drawdown	1.58	0.91	+0.67
Martin ratio Return relative to average drawdown	6.66	3.49	+3.17
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. TBG - Sharpe Ratio Comparison

The current DIVZ Sharpe Ratio is 1.06, which is higher than the TBG Sharpe Ratio of 0.68. The chart below compares the historical Sharpe Ratios of DIVZ and TBG, 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

	DIVZ	TBG	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.06	0.68	+0.37
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.79	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.92	1.48	-0.57

Correlation

The correlation between DIVZ and TBG is 0.83, 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

DIVZ vs. TBG - Dividend Comparison

DIVZ's dividend yield for the trailing twelve months is around 2.68%, less than TBG's 2.83% yield.

	TTM	2025	2024	2023	2022	2021
DIVZ Opal Dividend Income ETF	2.68%	2.60%	2.63%	3.66%	3.23%	3.83%
TBG TBG Dividend Focus ETF	2.83%	2.80%	2.33%	0.48%	0.00%	0.00%

Drawdowns

DIVZ vs. TBG - Drawdown Comparison

The maximum DIVZ drawdown since its inception was -15.42%, roughly equal to the maximum TBG drawdown of -14.76%. Use the drawdown chart below to compare losses from any high point for DIVZ and TBG.

Drawdown Indicators

	DIVZ	TBG	Difference
Max Drawdown Largest peak-to-trough decline	-15.42%	-14.76%	-0.66%
Max Drawdown (1Y) Largest decline over 1 year	-8.47%	-11.71%	+3.24%
Max Drawdown (5Y) Largest decline over 5 years	-15.42%	—	—
Current Drawdown Current decline from peak	-4.56%	-4.81%	+0.25%
Average Drawdown Average peak-to-trough decline	-3.47%	-2.11%	-1.36%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.06%	3.08%	-1.02%

Volatility

DIVZ vs. TBG - Volatility Comparison

Opal Dividend Income ETF (DIVZ) and TBG Dividend Focus ETF (TBG) have volatilities of 2.80% and 2.87%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	DIVZ	TBG	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.80%	2.87%	-0.07%
Volatility (6M) Calculated over the trailing 6-month period	6.57%	6.81%	-0.24%
Volatility (1Y) Calculated over the trailing 1-year period	12.04%	14.21%	-2.17%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	12.58%	12.40%	+0.18%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	12.61%	12.40%	+0.21%