JULZ vs. DECZ

Last updated Jun 4, 2026

JULZ (Trueshares Structured Outcome (July) ETF) and DECZ (TrueShares Structured Outcome (December) ETF) are both exchange-traded funds - JULZ is a Options Trading fund tracking the Cboe S&P 500 Buffer Protect Index July, while DECZ is a Defined Outcome fund tracking the S&P 500. Both are passively managed. Over the past 5 years, JULZ returned 11.28%/yr vs 11.21%/yr for DECZ. With a 0.98 correlation, they move nearly in lockstep. Both charge a 0.79% expense ratio.

Performance

JULZ vs. DECZ - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Trueshares Structured Outcome (July) ETF (JULZ) and TrueShares Structured Outcome (December) ETF (DECZ). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, JULZ achieves a 8.79% return, which is significantly higher than DECZ's 8.14% return.

JULZ

• 1D: -0.52%
• 1M: 4.36%
• YTD: 8.79%
• 6M: 8.56%
• 1Y: 22.07%
• 3Y*: 16.86%
• 5Y*: 11.28%
• 10Y*: —

DECZ

• 1D: -0.53%
• 1M: 4.15%
• YTD: 8.14%
• 6M: 8.12%
• 1Y: 20.18%
• 3Y*: 16.28%
• 5Y*: 11.21%
• 10Y*: —

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

JULZ vs. DECZ - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020
JULZ Trueshares Structured Outcome (July) ETF	8.79%	13.23%	18.76%	17.65%	-9.34%	20.66%	1.98%
DECZ TrueShares Structured Outcome (December) ETF	8.14%	12.34%	18.89%	18.32%	-8.93%	20.15%	1.64%

Correlation

The correlation between JULZ and DECZ is 0.96 - 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	0.96
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 Dec 2, 2020	0.98

The correlation between JULZ and DECZ has been stable across timeframes, ranging from 0.96 to 0.98 - a consistent structural relationship.

Return for Risk

JULZ vs. DECZ — Risk / Return Rank

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

JULZ

JULZ Risk / Return Rank: 63
JULZ Sharpe Ratio Rank: 66
JULZ Sortino Ratio Rank: 66
JULZ Omega Ratio Rank: 65
JULZ Calmar Ratio Rank: 53
JULZ Martin Ratio Rank: 63

DECZ

DECZ Risk / Return Rank: 62
DECZ Sharpe Ratio Rank: 64
DECZ Sortino Ratio Rank: 65
DECZ Omega Ratio Rank: 64
DECZ Calmar Ratio Rank: 55
DECZ Martin Ratio Rank: 63

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.

JULZ vs. DECZ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Trueshares Structured Outcome (July) ETF (JULZ) and TrueShares Structured Outcome (December) ETF (DECZ). 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.

	JULZ	DECZ	Difference
Sharpe ratio Return per unit of total volatility	2.16	2.12	+0.04
Sortino ratio Return per unit of downside risk	3.03	2.98	+0.04
Omega ratio Gain probability vs. loss probability	1.39	1.38	+0.01
Calmar ratio Return relative to maximum drawdown	2.60	2.69	-0.09
Martin ratio Return relative to average drawdown	11.36	11.35	+0.01
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

JULZ vs. DECZ - Sharpe Ratio Comparison

The current JULZ Sharpe Ratio is 2.16, which is comparable to the DECZ Sharpe Ratio of 2.12. The chart below compares the historical Sharpe Ratios of JULZ and DECZ, 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

	JULZ	DECZ	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.16	2.12	+0.04
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.93	0.90	+0.04
Sharpe Ratio (All Time) Calculated using the full available price history	1.15	1.00	+0.15

Drawdowns

JULZ vs. DECZ - Drawdown Comparison

The maximum JULZ drawdown since its inception was -14.71%, smaller than the maximum DECZ drawdown of -16.57%. Use the drawdown chart below to compare losses from any high point for JULZ and DECZ.

Drawdown Indicators

	JULZ	DECZ	Difference
Max Drawdown Largest peak-to-trough decline	-14.71%	-16.57%	+1.86%
Max Drawdown (1Y) Largest decline over 1 year	-8.53%	-7.53%	-1.00%
Max Drawdown (3Y) Largest decline over 3 years	-14.71%	-14.24%	-0.47%
Max Drawdown (5Y) Largest decline over 5 years	-14.71%	-16.57%	+1.86%
Current Drawdown Current decline from peak	-0.52%	-0.53%	+0.01%
Average Drawdown Average peak-to-trough decline	-2.98%	-3.06%	+0.08%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.95%	1.78%	+0.17%

Volatility

JULZ vs. DECZ - Volatility Comparison

Trueshares Structured Outcome (July) ETF (JULZ) has a higher volatility of 2.61% compared to TrueShares Structured Outcome (December) ETF (DECZ) at 2.47%. This indicates that JULZ's price experiences larger fluctuations and is considered to be riskier than DECZ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	JULZ	DECZ	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.61%	2.47%	+0.14%
Volatility (6M) Calculated over the trailing 6-month period	8.05%	7.20%	+0.85%
Volatility (1Y) Calculated over the trailing 1-year period	10.25%	9.57%	+0.68%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	12.19%	12.59%	-0.40%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	12.32%	12.39%	-0.07%

JULZ vs. DECZ - Expense Ratio Comparison

Both JULZ and DECZ have an expense ratio of 0.79%.

Dividends

JULZ vs. DECZ - Dividend Comparison

JULZ's dividend yield for the trailing twelve months is around 11.00%, more than DECZ's 3.03% yield.

Position	TTM	2025	2024	2023	2022	2021
DECZ TrueShares Structured Outcome (December) ETF	3.03%	3.28%	2.55%	1.23%	1.44%	0.46%
JULZ Trueshares Structured Outcome (July) ETF	11.00%	11.96%	3.30%	3.59%	0.07%	0.00%

Frequently Asked Questions

Can I hold both JULZ and DECZ in my portfolio?

With a correlation of 0.96, JULZ and DECZ 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.

Which is riskier, JULZ or DECZ?

JULZ has higher volatility (2.61%) compared to DECZ (2.47%). In terms of maximum drawdown, JULZ dropped -14.71% vs DECZ's -16.57%.

Which ETF is better, JULZ or DECZ?

On 5-year performance, JULZ leads with 11.28% vs 11.21% for DECZ. Both ETFs have the same 0.79% expense ratio. On volatility, DECZ has been the lower-risk option at 2.47%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, JULZ or DECZ?

Over the 5-year period, JULZ has performed better with a 11.28% return vs 11.21%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, JULZ or DECZ?

JULZ and DECZ have the same expense ratio: 0.79% per year.

Which ETF pays a higher dividend yield, JULZ or DECZ?

JULZ has the higher dividend yield at 11.00%, compared with 3.03% for DECZ.

What is the main difference between JULZ and DECZ?

JULZ is categorized as Options Trading, while DECZ is Defined Outcome. JULZ tracks Cboe S&P 500 Buffer Protect Index July, while DECZ tracks S&P 500.

Which has better risk-adjusted returns?

JULZ currently has the higher Sharpe Ratio (2.16 vs 2.12), 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.