ERNZ vs. OCTZ

Last updated Apr 1, 2026

Compare and contrast key facts about TrueShares Active Yield ETF (ERNZ) and TrueShares Structured Outcome (October) ETF (OCTZ).

ERNZ and OCTZ are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. ERNZ is an actively managed fund by TrueShares. It was launched on Apr 30, 2024. OCTZ is an actively managed fund by TrueShares. It was launched on Sep 30, 2020.

Performance

ERNZ vs. OCTZ - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in TrueShares Active Yield ETF (ERNZ) and TrueShares Structured Outcome (October) ETF (OCTZ). The values are adjusted to include any dividend payments, if applicable.

ERNZ vs. OCTZ - Yearly Performance Comparison

	2026 (YTD)	2025	2024
ERNZ TrueShares Active Yield ETF	4.89%	-6.50%	3.43%
OCTZ TrueShares Structured Outcome (October) ETF	-3.41%	12.89%	14.02%

Returns By Period

In the year-to-date period, ERNZ achieves a 4.89% return, which is significantly higher than OCTZ's -3.41% return.

ERNZ

• 1D: 0.00%
• 1M: -1.57%
• YTD: 4.89%
• 6M: -1.10%
• 1Y: -0.33%
• 3Y*: —
• 5Y*: —
• 10Y*: —

OCTZ

• 1D: 2.03%
• 1M: -3.58%
• YTD: -3.41%
• 6M: -1.67%
• 1Y: 12.51%
• 3Y*: 13.32%
• 5Y*: 9.45%
• 10Y*: —

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

ERNZ vs. OCTZ - Expense Ratio Comparison

ERNZ has a 0.75% expense ratio, which is lower than OCTZ's 0.79% expense ratio.

OCTZ

TrueShares Structured Outcome (October) ETF

ERNZ

TrueShares Active Yield ETF

Return for Risk

ERNZ vs. OCTZ — Risk / Return Rank

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

ERNZ

ERNZ Risk / Return Rank: 11
ERNZ Sharpe Ratio Rank: 11
ERNZ Sortino Ratio Rank: 10
ERNZ Omega Ratio Rank: 10
ERNZ Calmar Ratio Rank: 12
ERNZ Martin Ratio Rank: 12

OCTZ

OCTZ Risk / Return Rank: 54
OCTZ Sharpe Ratio Rank: 50
OCTZ Sortino Ratio Rank: 52
OCTZ Omega Ratio Rank: 53
OCTZ Calmar Ratio Rank: 54
OCTZ Martin Ratio Rank: 61

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.

ERNZ vs. OCTZ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for TrueShares Active Yield ETF (ERNZ) and TrueShares Structured Outcome (October) ETF (OCTZ). 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.

	ERNZ	OCTZ	Difference
Sharpe ratio Return per unit of total volatility	-0.02	0.92	-0.95
Sortino ratio Return per unit of downside risk	0.06	1.40	-1.33
Omega ratio Gain probability vs. loss probability	1.01	1.20	-0.20
Calmar ratio Return relative to maximum drawdown	0.02	1.41	-1.39
Martin ratio Return relative to average drawdown	0.04	6.21	-6.17
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

ERNZ vs. OCTZ - Sharpe Ratio Comparison

The current ERNZ Sharpe Ratio is -0.02, which is lower than the OCTZ Sharpe Ratio of 0.92. The chart below compares the historical Sharpe Ratios of ERNZ and OCTZ, 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

	ERNZ	OCTZ	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.02	0.92	-0.95
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.77	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.06	0.91	-0.85

Correlation

The correlation between ERNZ and OCTZ is 0.59, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.

Dividends

ERNZ vs. OCTZ - Dividend Comparison

ERNZ's dividend yield for the trailing twelve months is around 7.91%, more than OCTZ's 4.13% yield.

	TTM	2025	2024	2023	2022
ERNZ TrueShares Active Yield ETF	7.91%	9.90%	5.51%	0.00%	0.00%
OCTZ TrueShares Structured Outcome (October) ETF	4.13%	3.99%	1.26%	3.28%	0.67%

Drawdowns

ERNZ vs. OCTZ - Drawdown Comparison

The maximum ERNZ drawdown since its inception was -14.16%, smaller than the maximum OCTZ drawdown of -15.82%. Use the drawdown chart below to compare losses from any high point for ERNZ and OCTZ.

Drawdown Indicators

	ERNZ	OCTZ	Difference
Max Drawdown Largest peak-to-trough decline	-14.16%	-15.82%	+1.66%
Max Drawdown (1Y) Largest decline over 1 year	-10.61%	-9.09%	-1.52%
Max Drawdown (5Y) Largest decline over 5 years	—	-15.82%	—
Current Drawdown Current decline from peak	-5.59%	-5.43%	-0.16%
Average Drawdown Average peak-to-trough decline	-4.49%	-3.23%	-1.26%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.94%	2.06%	+2.88%

Volatility

ERNZ vs. OCTZ - Volatility Comparison

The current volatility for TrueShares Active Yield ETF (ERNZ) is 1.57%, while TrueShares Structured Outcome (October) ETF (OCTZ) has a volatility of 4.09%. This indicates that ERNZ experiences smaller price fluctuations and is considered to be less risky than OCTZ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	ERNZ	OCTZ	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.57%	4.09%	-2.52%
Volatility (6M) Calculated over the trailing 6-month period	6.86%	7.56%	-0.70%
Volatility (1Y) Calculated over the trailing 1-year period	13.69%	13.64%	+0.05%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	12.30%	12.41%	-0.11%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	12.30%	12.45%	-0.15%