JULZ vs. ONEV

Last updated Jun 23, 2026

JULZ (Trueshares Structured Outcome (July) ETF) and ONEV (SPDR Russell 1000 Low Volatility Focus ETF) are both exchange-traded funds - JULZ is a Options Trading fund tracking the Cboe S&P 500 Buffer Protect Index July, while ONEV is a Volatility Hedged Equity fund tracking the Russell 1000 Low Volatility Focused Factor (TR). Both are passively managed. Over the past 5 years, JULZ returned 10.93%/yr vs 8.48%/yr for ONEV. A 0.78 correlation means they provide meaningful diversification when combined. JULZ charges 0.79%/yr vs 0.20%/yr for ONEV.

Performance

JULZ vs. ONEV - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Trueshares Structured Outcome (July) ETF (JULZ) and SPDR Russell 1000 Low Volatility Focus ETF (ONEV). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, JULZ achieves a 7.33% return, which is significantly higher than ONEV's 6.74% return.

JULZ

• 1D: -0.40%
• 1M: -0.27%
• YTD: 7.33%
• 6M: 6.94%
• 1Y: 20.61%
• 3Y*: 15.85%
• 5Y*: 10.93%
• 10Y*: —

ONEV

• 1D: 0.06%
• 1M: 0.86%
• YTD: 6.74%
• 6M: 5.55%
• 1Y: 13.40%
• 3Y*: 12.49%
• 5Y*: 8.48%
• 10Y*: 11.41%

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

JULZ vs. ONEV - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020
JULZ Trueshares Structured Outcome (July) ETF	7.33%	13.23%	18.76%	17.65%	-9.34%	20.66%	16.18%
ONEV SPDR Russell 1000 Low Volatility Focus ETF	6.74%	8.14%	11.76%	13.28%	-8.15%	29.19%	23.36%

Correlation

The correlation between JULZ and ONEV is 0.54, 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	0.54
Correlation (3Y) Calculated over the trailing 3-year period	0.66
Correlation (5Y) Calculated over the trailing 5-year period	0.77
Correlation (All Time) Calculated using the full available price history since Jul 1, 2020	0.78

Over the past year, the correlation between JULZ and ONEV has dropped to 0.54 - well below their long-term average of 0.78, suggesting their price drivers have been diverging.

Return for Risk

JULZ vs. ONEV — Risk / Return Rank

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

JULZ

JULZ Risk / Return Rank: 57
JULZ Sharpe Ratio Rank: 59
JULZ Sortino Ratio Rank: 58
JULZ Omega Ratio Rank: 58
JULZ Calmar Ratio Rank: 51
JULZ Martin Ratio Rank: 59

ONEV

ONEV Risk / Return Rank: 35
ONEV Sharpe Ratio Rank: 34
ONEV Sortino Ratio Rank: 36
ONEV Omega Ratio Rank: 31
ONEV Calmar Ratio Rank: 36
ONEV Martin Ratio Rank: 39

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. ONEV - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Trueshares Structured Outcome (July) ETF (JULZ) and SPDR Russell 1000 Low Volatility Focus ETF (ONEV). 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.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

	JULZ	ONEV	Difference
Sharpe ratio: Return per unit of total volatility	1.93	1.19	+0.74
Sortino ratio: Return per unit of downside risk	2.66	1.82	+0.84
Omega ratio: Gain probability vs. loss probability	1.35	1.21	+0.14
Calmar ratio: Return relative to maximum drawdown	2.43	1.74	+0.69
Martin ratio: Return relative to average drawdown	10.32	5.91	+4.41

JULZ vs. ONEV - Sharpe Ratio Comparison

The current JULZ Sharpe Ratio is 1.93, which is higher than the ONEV Sharpe Ratio of 1.19. The chart below compares the historical Sharpe Ratios of JULZ and ONEV, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

JULZ vs. ONEV - Drawdown Comparison

The maximum JULZ drawdown since its inception was -14.71%, smaller than the maximum ONEV drawdown of -39.72%. Use the drawdown chart below to compare losses from any high point for JULZ and ONEV.

Drawdown Indicators

	JULZ	ONEV	Difference
Max Drawdown Largest peak-to-trough decline	-14.71%	-39.72%	+25.01%
Max Drawdown (1Y) Largest decline over 1 year	-8.53%	-7.75%	-0.78%
Max Drawdown (3Y) Largest decline over 3 years	-14.71%	-14.81%	+0.10%
Max Drawdown (5Y) Largest decline over 5 years	-14.71%	-18.52%	+3.81%
Max Drawdown (10Y) Largest decline over 10 years	—	-39.72%	—
Current Drawdown Current decline from peak	-1.86%	-1.84%	-0.02%
Average Drawdown Average peak-to-trough decline	-2.97%	-3.89%	+0.92%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.00%	2.27%	-0.27%

Volatility

JULZ vs. ONEV - Volatility Comparison

Trueshares Structured Outcome (July) ETF (JULZ) has a higher volatility of 3.91% compared to SPDR Russell 1000 Low Volatility Focus ETF (ONEV) at 2.91%. This indicates that JULZ's price experiences larger fluctuations and is considered to be riskier than ONEV based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	JULZ	ONEV	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.91%	2.91%	+1.00%
Volatility (6M) Calculated over the trailing 6-month period	8.70%	7.87%	+0.83%
Volatility (1Y) Calculated over the trailing 1-year period	10.73%	11.34%	-0.61%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	12.28%	14.53%	-2.25%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	12.35%	17.04%	-4.69%

JULZ vs. ONEV - Expense Ratio Comparison

JULZ has a 0.79% expense ratio, which is higher than ONEV's 0.20% expense ratio.

Dividends

JULZ vs. ONEV - Dividend Comparison

JULZ's dividend yield for the trailing twelve months is around 11.15%, more than ONEV's 2.31% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
JULZ Trueshares Structured Outcome (July) ETF	11.15%	11.96%	3.30%	3.59%	0.07%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
ONEV SPDR Russell 1000 Low Volatility Focus ETF	2.31%	1.81%	1.88%	1.79%	1.80%	1.44%	1.87%	2.07%	2.14%	6.91%	3.73%	0.21%

Frequently Asked Questions

Can I hold both JULZ and ONEV in my portfolio?

JULZ and ONEV have a correlation of 0.54, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, JULZ or ONEV?

JULZ has higher volatility (3.91%) compared to ONEV (2.91%). In terms of maximum drawdown, JULZ dropped -14.71% vs ONEV's -39.72%.

Which ETF is better, JULZ or ONEV?

On 5-year performance, JULZ leads with 10.93% vs 8.48% for ONEV. On fees, ONEV is cheaper at 0.20% per year. On volatility, ONEV has been the lower-risk option at 2.91%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, JULZ or ONEV?

Over the 5-year period, JULZ has performed better with a 10.93% return vs 8.48%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, JULZ or ONEV?

ONEV is cheaper with a 0.20% expense ratio, compared with 0.79% for JULZ.

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

JULZ has the higher dividend yield at 11.15%, compared with 2.31% for ONEV.

What is the main difference between JULZ and ONEV?

JULZ is categorized as Options Trading, while ONEV is Volatility Hedged Equity. JULZ tracks Cboe S&P 500 Buffer Protect Index July, while ONEV tracks Russell 1000 Low Volatility Focused Factor (TR). They also come from different issuers: TrueShares and State Street. Their fees differ too: 0.79% for JULZ and 0.20% for ONEV.

Which has better risk-adjusted returns?

JULZ currently has the higher Sharpe Ratio (1.93 vs 1.19), 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.