FEBZ vs. AUGZ
FEBZ (TrueShares Structured Outcome (February) ETF) and AUGZ (TrueShares Structured Outcome (August) ETF) are both Defined Outcome funds from TrueShares - FEBZ tracks the S&P 500 Price Index while AUGZ tracks the S&P 500 Index. Both are passively managed. Over the past 5 years, FEBZ returned 11.22%/yr vs 10.83%/yr for AUGZ. With a 0.98 correlation, they move nearly in lockstep. Both charge a 0.79% expense ratio.
Performance
FEBZ vs. AUGZ - Performance Comparison
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Returns By Period
The year-to-date returns for both investments are quite close, with FEBZ having a 7.99% return and AUGZ slightly higher at 8.27%.
FEBZ
- 1D
- -0.49%
- 1M
- 4.07%
- YTD
- 7.99%
- 6M
- 7.75%
- 1Y
- 20.13%
- 3Y*
- 15.79%
- 5Y*
- 11.22%
- 10Y*
- —
AUGZ
- 1D
- -0.55%
- 1M
- 4.32%
- YTD
- 8.27%
- 6M
- 8.18%
- 1Y
- 20.84%
- 3Y*
- 16.37%
- 5Y*
- 10.83%
- 10Y*
- —
FEBZ vs. AUGZ - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
FEBZ TrueShares Structured Outcome (February) ETF | 7.99% | 12.97% | 16.88% | 20.65% | -10.32% | 20.51% |
AUGZ TrueShares Structured Outcome (August) ETF | 8.27% | 13.49% | 17.99% | 17.32% | -10.41% | 20.30% |
Correlation
The correlation between FEBZ and AUGZ is 0.99 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.99 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.98 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.98 |
Correlation (All Time) Calculated using the full available price history since Feb 2, 2021 | 0.98 |
The correlation between FEBZ and AUGZ has been stable across timeframes, ranging from 0.98 to 0.99 - a consistent structural relationship.
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Return for Risk
FEBZ vs. AUGZ — Risk / Return Rank
FEBZ
AUGZ
FEBZ vs. AUGZ - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for TrueShares Structured Outcome (February) ETF (FEBZ) and TrueShares Structured Outcome (August) ETF (AUGZ). 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.
| FEBZ | AUGZ | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.04 | ||
| Sortino ratioReturn per unit of downside risk | -0.04 | ||
| Omega ratioGain probability vs. loss probability | 1.39 | 1.40 | -0.01 |
| Calmar ratioReturn relative to maximum drawdown | 2.83 | 2.89 | -0.06 |
| Martin ratioReturn relative to average drawdown | 12.21 | 12.46 | -0.25 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| FEBZ | AUGZ | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.17 | 2.21 | -0.04 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.90 | 0.91 | -0.01 |
Sharpe Ratio (All Time)Calculated using the full available price history | 1.00 | 1.08 | -0.08 |
Drawdowns
FEBZ vs. AUGZ - Drawdown Comparison
The maximum FEBZ drawdown since its inception was -17.50%, which is greater than AUGZ's maximum drawdown of -15.67%. Use the drawdown chart below to compare losses from any high point for FEBZ and AUGZ.
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Drawdown Indicators
| FEBZ | AUGZ | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -17.50% | -15.67% | -1.83% |
Max Drawdown (1Y)Largest decline over 1 year | -7.14% | -7.23% | +0.09% |
Max Drawdown (3Y)Largest decline over 3 years | -14.68% | -14.52% | -0.16% |
Max Drawdown (5Y)Largest decline over 5 years | -17.50% | -15.67% | -1.83% |
Current DrawdownCurrent decline from peak | -0.49% | -0.55% | +0.06% |
Average DrawdownAverage peak-to-trough decline | -3.32% | -3.11% | -0.21% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.65% | 1.68% | -0.03% |
Volatility
FEBZ vs. AUGZ - Volatility Comparison
The current volatility for TrueShares Structured Outcome (February) ETF (FEBZ) is 2.29%, while TrueShares Structured Outcome (August) ETF (AUGZ) has a volatility of 2.60%. This indicates that FEBZ experiences smaller price fluctuations and is considered to be less risky than AUGZ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FEBZ | AUGZ | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.29% | 2.60% | -0.31% |
Volatility (6M)Calculated over the trailing 6-month period | 7.09% | 7.25% | -0.16% |
Volatility (1Y)Calculated over the trailing 1-year period | 9.34% | 9.50% | -0.16% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 12.47% | 11.97% | +0.50% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 12.35% | 12.10% | +0.25% |
FEBZ vs. AUGZ - Expense Ratio Comparison
Both FEBZ and AUGZ have an expense ratio of 0.79%.
Dividends
FEBZ vs. AUGZ - Dividend Comparison
FEBZ's dividend yield for the trailing twelve months is around 2.96%, less than AUGZ's 3.35% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
AUGZ TrueShares Structured Outcome (August) ETF | 3.35% | 3.63% | 4.08% | 3.42% | 0.41% |
FEBZ TrueShares Structured Outcome (February) ETF | 2.96% | 3.20% | 3.88% | 6.81% | 0.00% |
Frequently Asked Questions
With a correlation of 0.99, FEBZ and AUGZ move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.
AUGZ has higher volatility (2.60%) compared to FEBZ (2.29%). In terms of maximum drawdown, FEBZ dropped -17.50% vs AUGZ's -15.67%.
On 5-year performance, FEBZ leads with 11.22% vs 10.83% for AUGZ. Both ETFs have the same 0.79% expense ratio. On volatility, FEBZ has been the lower-risk option at 2.29%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, FEBZ has performed better with a 11.22% return vs 10.83%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
FEBZ and AUGZ have the same expense ratio: 0.79% per year.
AUGZ has the higher dividend yield at 3.35%, compared with 2.96% for FEBZ.
FEBZ tracks S&P 500 Price Index, while AUGZ tracks S&P 500 Index.
AUGZ currently has the higher Sharpe Ratio (2.21 vs 2.17), 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.
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