JULZ vs. GMAR

Last updated Apr 2, 2026

Compare and contrast key facts about Trueshares Structured Outcome (July) ETF (JULZ) and FT Cboe Vest U.S. Equity Moderate Buffer ETF - March (GMAR).

JULZ and GMAR are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. JULZ is a passively managed fund by TrueShares that tracks the performance of the Cboe S&P 500 Buffer Protect Index July. It was launched on Jun 30, 2020. GMAR is an actively managed fund by FT Vest. It was launched on Mar 16, 2023.

Performance

JULZ vs. GMAR - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Trueshares Structured Outcome (July) ETF (JULZ) and FT Cboe Vest U.S. Equity Moderate Buffer ETF - March (GMAR). The values are adjusted to include any dividend payments, if applicable.

JULZ vs. GMAR - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
JULZ Trueshares Structured Outcome (July) ETF	-3.87%	13.23%	18.76%	15.35%
GMAR FT Cboe Vest U.S. Equity Moderate Buffer ETF - March	2.32%	9.29%	12.14%	11.95%

Returns By Period

In the year-to-date period, JULZ achieves a -3.87% return, which is significantly lower than GMAR's 2.32% return.

JULZ

• 1D: 0.85%
• 1M: -3.93%
• YTD: -3.87%
• 6M: -2.44%
• 1Y: 12.43%
• 3Y*: 13.25%
• 5Y*: 9.51%
• 10Y*: —

GMAR

• 1D: 0.48%
• 1M: 1.40%
• YTD: 2.32%
• 6M: 4.36%
• 1Y: 12.40%
• 3Y*: 11.31%
• 5Y*: —
• 10Y*: —

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

JULZ vs. GMAR - Expense Ratio Comparison

JULZ has a 0.79% expense ratio, which is lower than GMAR's 0.85% expense ratio.

GMAR

FT Cboe Vest U.S. Equity Moderate Buffer ETF - March

JULZ

Trueshares Structured Outcome (July) ETF

Return for Risk

JULZ vs. GMAR — Risk / Return Rank

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

JULZ

JULZ Risk / Return Rank: 49
JULZ Sharpe Ratio Rank: 45
JULZ Sortino Ratio Rank: 47
JULZ Omega Ratio Rank: 48
JULZ Calmar Ratio Rank: 49
JULZ Martin Ratio Rank: 53

GMAR

GMAR Risk / Return Rank: 81
GMAR Sharpe Ratio Rank: 76
GMAR Sortino Ratio Rank: 79
GMAR Omega Ratio Rank: 94
GMAR Calmar Ratio Rank: 66
GMAR Martin Ratio Rank: 88

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. GMAR - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Trueshares Structured Outcome (July) ETF (JULZ) and FT Cboe Vest U.S. Equity Moderate Buffer ETF - March (GMAR). 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	GMAR	Difference
Sharpe ratio Return per unit of total volatility	0.89	1.46	-0.58
Sortino ratio Return per unit of downside risk	1.37	2.14	-0.77
Omega ratio Gain probability vs. loss probability	1.19	1.46	-0.26
Calmar ratio Return relative to maximum drawdown	1.42	1.84	-0.42
Martin ratio Return relative to average drawdown	5.81	11.96	-6.15
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. GMAR - Sharpe Ratio Comparison

The current JULZ Sharpe Ratio is 0.89, which is lower than the GMAR Sharpe Ratio of 1.46. The chart below compares the historical Sharpe Ratios of JULZ and GMAR, 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

	JULZ	GMAR	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.89	1.46	-0.58
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.78	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.99	1.71	-0.72

Correlation

The correlation between JULZ and GMAR is 0.88, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.

Dividends

JULZ vs. GMAR - Dividend Comparison

JULZ's dividend yield for the trailing twelve months is around 12.44%, while GMAR has not paid dividends to shareholders.

	TTM	2025	2024	2023	2022
JULZ Trueshares Structured Outcome (July) ETF	12.44%	11.96%	3.30%	3.59%	0.07%
GMAR FT Cboe Vest U.S. Equity Moderate Buffer ETF - March	0.00%	0.00%	0.00%	0.00%	0.00%

Drawdowns

JULZ vs. GMAR - Drawdown Comparison

The maximum JULZ drawdown since its inception was -14.71%, which is greater than GMAR's maximum drawdown of -9.11%. Use the drawdown chart below to compare losses from any high point for JULZ and GMAR.

Drawdown Indicators

	JULZ	GMAR	Difference
Max Drawdown Largest peak-to-trough decline	-14.71%	-9.11%	-5.60%
Max Drawdown (1Y) Largest decline over 1 year	-9.10%	-6.85%	-2.25%
Max Drawdown (5Y) Largest decline over 5 years	-14.71%	—	—
Current Drawdown Current decline from peak	-5.67%	0.00%	-5.67%
Average Drawdown Average peak-to-trough decline	-3.04%	-0.57%	-2.47%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.23%	1.05%	+1.18%

Volatility

JULZ vs. GMAR - Volatility Comparison

Trueshares Structured Outcome (July) ETF (JULZ) has a higher volatility of 4.48% compared to FT Cboe Vest U.S. Equity Moderate Buffer ETF - March (GMAR) at 2.22%. This indicates that JULZ's price experiences larger fluctuations and is considered to be riskier than GMAR based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	JULZ	GMAR	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.48%	2.22%	+2.26%
Volatility (6M) Calculated over the trailing 6-month period	8.17%	2.87%	+5.30%
Volatility (1Y) Calculated over the trailing 1-year period	14.06%	8.50%	+5.56%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	12.18%	6.96%	+5.22%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	12.36%	6.96%	+5.40%