JULZ vs. QBER

Last updated Jun 4, 2026

JULZ (Trueshares Structured Outcome (July) ETF) and QBER (TrueShares Quarterly Bear Hedge ETF) are both Options Trading funds from TrueShares. JULZ is passively managed, while QBER is actively managed. Over the past year, JULZ returned 22.07% vs -0.85% for QBER. At a correlation of -0.50, they often move in opposite directions. Both charge a 0.79% expense ratio.

Performance

JULZ vs. QBER - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Trueshares Structured Outcome (July) ETF (JULZ) and TrueShares Quarterly Bear Hedge ETF (QBER). 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 QBER's -0.96% return.

JULZ

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

QBER

• 1D: -0.13%
• 1M: -0.38%
• YTD: -0.96%
• 6M: -0.37%
• 1Y: -0.85%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

JULZ vs. QBER - Yearly Performance Comparison

	2026 (YTD)	2025	2024
JULZ Trueshares Structured Outcome (July) ETF	8.79%	13.23%	5.92%
QBER TrueShares Quarterly Bear Hedge ETF	-0.96%	0.25%	0.04%

Correlation

The correlation between JULZ and QBER is -0.46, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	-0.46
Correlation (All Time) Calculated using the full available price history since Jul 2, 2024	-0.50

The correlation between JULZ and QBER has been stable across timeframes, ranging from -0.50 to -0.46 - a consistent structural relationship.

Return for Risk

JULZ vs. QBER — 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

QBER

QBER Risk / Return Rank: 6
QBER Sharpe Ratio Rank: 7
QBER Sortino Ratio Rank: 6
QBER Omega Ratio Rank: 6
QBER Calmar Ratio Rank: 6
QBER Martin Ratio Rank: 5

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. QBER - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Trueshares Structured Outcome (July) ETF (JULZ) and TrueShares Quarterly Bear Hedge ETF (QBER). 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	QBER	Difference
Sharpe ratio: Return per unit of total volatility	2.16	-0.23	+2.40
Sortino ratio: Return per unit of downside risk	3.03	-0.31	+3.33
Omega ratio: Gain probability vs. loss probability	1.39	0.96	+0.43
Calmar ratio: Return relative to maximum drawdown	2.60	-0.36	+2.96
Martin ratio: Return relative to average drawdown	11.36	-0.88	+12.24
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. QBER - Sharpe Ratio Comparison

The current JULZ Sharpe Ratio is 2.16, which is higher than the QBER Sharpe Ratio of -0.23. The chart below compares the historical Sharpe Ratios of JULZ and QBER, 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	QBER	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.16	-0.23	+2.40
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.93	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.15	-0.05	+1.21

Drawdowns

JULZ vs. QBER - Drawdown Comparison

The maximum JULZ drawdown since its inception was -14.71%, which is greater than QBER's maximum drawdown of -5.72%. Use the drawdown chart below to compare losses from any high point for JULZ and QBER.

Drawdown Indicators

	JULZ	QBER	Difference
Max Drawdown Largest peak-to-trough decline	-14.71%	-5.72%	-8.99%
Max Drawdown (1Y) Largest decline over 1 year	-8.53%	-2.35%	-6.18%
Max Drawdown (3Y) Largest decline over 3 years	-14.71%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-14.71%	—	—
Current Drawdown Current decline from peak	-0.52%	-5.68%	+5.16%
Average Drawdown Average peak-to-trough decline	-2.98%	-4.72%	+1.74%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.95%	0.97%	+0.98%

Volatility

JULZ vs. QBER - Volatility Comparison

Trueshares Structured Outcome (July) ETF (JULZ) has a higher volatility of 2.61% compared to TrueShares Quarterly Bear Hedge ETF (QBER) at 0.87%. This indicates that JULZ's price experiences larger fluctuations and is considered to be riskier than QBER based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	JULZ	QBER	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.61%	0.87%	+1.74%
Volatility (6M) Calculated over the trailing 6-month period	8.05%	2.85%	+5.20%
Volatility (1Y) Calculated over the trailing 1-year period	10.25%	3.64%	+6.61%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	12.19%	6.40%	+5.79%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	12.32%	6.40%	+5.92%

JULZ vs. QBER - Expense Ratio Comparison

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

Dividends

JULZ vs. QBER - Dividend Comparison

JULZ's dividend yield for the trailing twelve months is around 11.00%, more than QBER's 3.29% yield.

Position	TTM	2025	2024	2023	2022
JULZ Trueshares Structured Outcome (July) ETF	11.00%	11.96%	3.30%	3.59%	0.07%
QBER TrueShares Quarterly Bear Hedge ETF	3.29%	3.26%	1.35%	0.00%	0.00%

Frequently Asked Questions

Can I hold both JULZ and QBER in my portfolio?

JULZ and QBER have a correlation of -0.46, 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 QBER?

JULZ has higher volatility (2.61%) compared to QBER (0.87%). In terms of maximum drawdown, JULZ dropped -14.71% vs QBER's -5.72%.

Which ETF is better, JULZ or QBER?

On 1-year performance, JULZ leads with 22.07% vs -0.85% for QBER. Both ETFs have the same 0.79% expense ratio. On volatility, QBER has been the lower-risk option at 0.87%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, JULZ or QBER?

Over the 1-year period, JULZ has performed better with a 22.07% return vs -0.85%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, JULZ or QBER?

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

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

JULZ has the higher dividend yield at 11.00%, compared with 3.29% for QBER.

Which has better risk-adjusted returns?

JULZ currently has the higher Sharpe Ratio (2.16 vs -0.23), 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.