FEBZ vs. MARZ
FEBZ (TrueShares Structured Outcome (February) ETF) and MARZ (TrueShares Structured Outcome (March) ETF) are both Defined Outcome funds from TrueShares tracking the S&P 500 Price Index. Both are passively managed. Over the past 5 years, FEBZ returned 11.22%/yr vs 10.65%/yr for MARZ. With a 0.98 correlation, they move nearly in lockstep. Both charge a 0.79% expense ratio.
Performance
FEBZ vs. MARZ - Performance Comparison
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Returns By Period
The year-to-date returns for both stocks are quite close, with FEBZ having a 7.99% return and MARZ slightly lower at 7.95%.
FEBZ
- 1D
- -0.49%
- 1M
- 4.07%
- YTD
- 7.99%
- 6M
- 7.75%
- 1Y
- 20.13%
- 3Y*
- 15.79%
- 5Y*
- 11.22%
- 10Y*
- —
MARZ
- 1D
- -0.48%
- 1M
- 4.18%
- YTD
- 7.95%
- 6M
- 7.73%
- 1Y
- 20.32%
- 3Y*
- 16.16%
- 5Y*
- 10.65%
- 10Y*
- —
FEBZ vs. MARZ - 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% | 17.60% |
MARZ TrueShares Structured Outcome (March) ETF | 7.95% | 12.90% | 17.90% | 20.37% | -12.70% | 17.08% |
Correlation
The correlation between FEBZ and MARZ 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 | 0.99 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.99 |
Correlation (All Time) Calculated using the full available price history since Mar 2, 2021 | 0.98 |
The correlation between FEBZ and MARZ 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. MARZ — Risk / Return Rank
FEBZ
MARZ
FEBZ vs. MARZ - 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 (March) ETF (MARZ). 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 | MARZ | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.06 | ||
| Sortino ratioReturn per unit of downside risk | +0.10 | ||
| Omega ratioGain probability vs. loss probability | 1.39 | 1.38 | +0.01 |
| Calmar ratioReturn relative to maximum drawdown | 2.83 | 2.74 | +0.09 |
| Martin ratioReturn relative to average drawdown | 12.21 | 11.85 | +0.36 |
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 | MARZ | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.17 | 2.10 | +0.06 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.90 | 0.87 | +0.03 |
Sharpe Ratio (All Time)Calculated using the full available price history | 1.00 | 0.94 | +0.06 |
Drawdowns
FEBZ vs. MARZ - Drawdown Comparison
The maximum FEBZ drawdown since its inception was -17.50%, smaller than the maximum MARZ drawdown of -18.89%. Use the drawdown chart below to compare losses from any high point for FEBZ and MARZ.
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Drawdown Indicators
| FEBZ | MARZ | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -17.50% | -18.89% | +1.39% |
Max Drawdown (1Y)Largest decline over 1 year | -7.14% | -7.45% | +0.31% |
Max Drawdown (3Y)Largest decline over 3 years | -14.68% | -14.84% | +0.16% |
Max Drawdown (5Y)Largest decline over 5 years | -17.50% | -18.89% | +1.39% |
Current DrawdownCurrent decline from peak | -0.49% | -0.48% | -0.01% |
Average DrawdownAverage peak-to-trough decline | -3.32% | -4.02% | +0.70% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.65% | 1.72% | -0.07% |
Volatility
FEBZ vs. MARZ - Volatility Comparison
TrueShares Structured Outcome (February) ETF (FEBZ) and TrueShares Structured Outcome (March) ETF (MARZ) have volatilities of 2.29% and 2.33%, 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.
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Volatility by Period
| FEBZ | MARZ | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.29% | 2.33% | -0.04% |
Volatility (6M)Calculated over the trailing 6-month period | 7.09% | 7.46% | -0.37% |
Volatility (1Y)Calculated over the trailing 1-year period | 9.34% | 9.71% | -0.37% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 12.47% | 12.29% | +0.18% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 12.35% | 12.20% | +0.15% |
FEBZ vs. MARZ - Expense Ratio Comparison
Both FEBZ and MARZ have an expense ratio of 0.79%.
Dividends
FEBZ vs. MARZ - Dividend Comparison
FEBZ's dividend yield for the trailing twelve months is around 2.96%, less than MARZ's 3.06% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|---|
FEBZ TrueShares Structured Outcome (February) ETF | 2.96% | 3.20% | 3.88% | 6.81% | 0.00% | 0.00% |
MARZ TrueShares Structured Outcome (March) ETF | 3.06% | 3.30% | 4.55% | 7.33% | 0.78% | 2.43% |
Frequently Asked Questions
With a correlation of 0.99, FEBZ and MARZ 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.
MARZ has higher volatility (2.33%) compared to FEBZ (2.29%). In terms of maximum drawdown, FEBZ dropped -17.50% vs MARZ's -18.89%.
On 5-year performance, FEBZ leads with 11.22% vs 10.65% for MARZ. Both ETFs have the same 0.79% expense ratio. Their volatility is very similar. 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 10.65%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
FEBZ and MARZ have the same expense ratio: 0.79% per year.
MARZ has the higher dividend yield at 3.06%, compared with 2.96% for FEBZ.
Both ETFs track S&P 500 Price Index.
FEBZ currently has the higher Sharpe Ratio (2.17 vs 2.10), 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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