ERNZ vs. THLV

Last updated Jun 4, 2026

ERNZ (TrueShares Active Yield ETF) and THLV (THOR Equal Weight Low Volatility ETF) are both Large Cap Blend Equities funds. ERNZ is actively managed, while THLV is passively managed. Over the past year, ERNZ returned 2.28% vs 18.29% for THLV. A 0.67 correlation means they provide meaningful diversification when combined. ERNZ charges 0.75%/yr vs 0.64%/yr for THLV.

Performance

ERNZ vs. THLV - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in TrueShares Active Yield ETF (ERNZ) and THOR Equal Weight Low Volatility ETF (THLV). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, ERNZ achieves a 4.89% return, which is significantly lower than THLV's 9.49% return.

ERNZ

• 1D: 0.00%
• 1M: 0.00%
• YTD: 4.89%
• 6M: 3.58%
• 1Y: 2.28%
• 3Y*: —
• 5Y*: —
• 10Y*: —

THLV

• 1D: -0.39%
• 1M: 2.27%
• YTD: 9.49%
• 6M: 9.41%
• 1Y: 18.29%
• 3Y*: 12.59%
• 5Y*: —
• 10Y*: —

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

ERNZ vs. THLV - Yearly Performance Comparison

	2026 (YTD)	2025	2024
ERNZ TrueShares Active Yield ETF	4.89%	-6.50%	3.43%
THLV THOR Equal Weight Low Volatility ETF	9.49%	10.50%	6.15%

Correlation

The correlation between ERNZ and THLV is 0.65, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.65
Correlation (All Time) Calculated using the full available price history since May 2, 2024	0.67

The correlation between ERNZ and THLV has been stable across timeframes, ranging from 0.65 to 0.67 - a consistent structural relationship.

ERNZ vs. THLV - Sectors Allocation Comparison

Sectors	ERNZ	THLV
Financial Services	24.6%	13.8%
Energy	23.0%	17.5%
Consumer Cyclical	10.1%	15.7%
Consumer Defensive	8.7%	13.7%
Real Estate	8.7%	14.3%
Basic Materials	6.1%	12.2%
Healthcare	5.8%	12.5%
Communication Services	3.5%	0.1%
Utilities	3.5%	14.7%
Technology	3.3%	15.7%
Industrials	2.9%	13.5%

Return for Risk

ERNZ vs. THLV — Risk / Return Rank

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

ERNZ

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

THLV

THLV Risk / Return Rank: 54
THLV Sharpe Ratio Rank: 55
THLV Sortino Ratio Rank: 56
THLV Omega Ratio Rank: 53
THLV Calmar Ratio Rank: 56
THLV Martin Ratio Rank: 50

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. THLV - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for TrueShares Active Yield ETF (ERNZ) and THOR Equal Weight Low Volatility ETF (THLV). 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	THLV	Difference
Sharpe ratio: Return per unit of total volatility	0.24	1.87	-1.63
Sortino ratio: Return per unit of downside risk	0.42	2.65	-2.23
Omega ratio: Gain probability vs. loss probability	1.05	1.33	-0.28
Calmar ratio: Return relative to maximum drawdown	0.22	2.76	-2.54
Martin ratio: Return relative to average drawdown	0.47	8.38	-7.91
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. THLV - Sharpe Ratio Comparison

The current ERNZ Sharpe Ratio is 0.24, which is lower than the THLV Sharpe Ratio of 1.87. The chart below compares the historical Sharpe Ratios of ERNZ and THLV, 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

	ERNZ	THLV	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.24	1.87	-1.63
Sharpe Ratio (All Time) Calculated using the full available price history	0.06	0.88	-0.82

Drawdowns

ERNZ vs. THLV - Drawdown Comparison

The maximum ERNZ drawdown since its inception was -14.16%, which is greater than THLV's maximum drawdown of -13.15%. Use the drawdown chart below to compare losses from any high point for ERNZ and THLV.

Drawdown Indicators

	ERNZ	THLV	Difference
Max Drawdown Largest peak-to-trough decline	-14.16%	-13.15%	-1.01%
Max Drawdown (1Y) Largest decline over 1 year	-10.61%	-6.66%	-3.95%
Max Drawdown (3Y) Largest decline over 3 years	—	-13.15%	—
Current Drawdown Current decline from peak	-5.59%	-1.99%	-3.60%
Average Drawdown Average peak-to-trough decline	-4.58%	-3.74%	-0.84%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.88%	2.19%	+2.69%

Volatility

ERNZ vs. THLV - Volatility Comparison

The current volatility for TrueShares Active Yield ETF (ERNZ) is 0.00%, while THOR Equal Weight Low Volatility ETF (THLV) has a volatility of 3.45%. This indicates that ERNZ experiences smaller price fluctuations and is considered to be less risky than THLV based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	ERNZ	THLV	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.00%	3.45%	-3.45%
Volatility (6M) Calculated over the trailing 6-month period	4.40%	7.48%	-3.08%
Volatility (1Y) Calculated over the trailing 1-year period	9.75%	9.84%	-0.09%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	11.77%	11.73%	+0.04%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	11.77%	11.73%	+0.04%

ERNZ vs. THLV - Expense Ratio Comparison

ERNZ has a 0.75% expense ratio, which is higher than THLV's 0.64% expense ratio.

Dividends

ERNZ vs. THLV - Dividend Comparison

ERNZ's dividend yield for the trailing twelve months is around 6.37%, more than THLV's 1.62% yield.

Position	TTM	2025	2024	2023	2022
ERNZ TrueShares Active Yield ETF	6.37%	9.90%	5.51%	0.00%	0.00%
THLV THOR Equal Weight Low Volatility ETF	1.62%	1.77%	1.25%	2.72%	0.62%

Frequently Asked Questions

Can I hold both ERNZ and THLV in my portfolio?

ERNZ and THLV have a correlation of 0.65, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, ERNZ or THLV?

THLV has higher volatility (3.45%) compared to ERNZ (0.00%). In terms of maximum drawdown, ERNZ dropped -14.16% vs THLV's -13.15%.

Which ETF is better, ERNZ or THLV?

On 1-year performance, THLV leads with 18.29% vs 2.28% for ERNZ. On fees, THLV is cheaper at 0.64% per year. On volatility, ERNZ has been the lower-risk option at 0.00%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, ERNZ or THLV?

Over the 1-year period, THLV has performed better with a 18.29% return vs 2.28%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, ERNZ or THLV?

THLV is cheaper with a 0.64% expense ratio, compared with 0.75% for ERNZ.

Which ETF pays a higher dividend yield, ERNZ or THLV?

ERNZ has the higher dividend yield at 6.37%, compared with 1.62% for THLV.

What is the main difference between ERNZ and THLV?

They also come from different issuers: TrueShares and THOR. Their fees differ too: 0.75% for ERNZ and 0.64% for THLV.

Which has better risk-adjusted returns?

THLV currently has the higher Sharpe Ratio (1.87 vs 0.24), 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.