JUNZ vs. SEPZ
JUNZ (TrueShares Structured Outcome (June) ETF) and SEPZ (TrueShares Structured Outcome (September) ETF) are both exchange-traded funds - JUNZ is a Defined Outcome fund tracking the S&P 500 Price Return Index, while SEPZ is a Options Trading fund tracking the Cboe S&P 500 Buffer Protect Index September. Both are passively managed. Over the past 5 years, JUNZ returned 9.14%/yr vs 10.57%/yr for SEPZ. Their 0.98 correlation means they have historically moved very closely together. JUNZ charges 0.79%/yr vs 0.80%/yr for SEPZ.
Performance
JUNZ vs. SEPZ - Performance Comparison
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Returns By Period
In the year-to-date period, JUNZ achieves a 7.74% return, which is significantly higher than SEPZ's 7.08% return.
JUNZ
- 1D
- 0.59%
- 1M
- 0.24%
- 6M
- 6.65%
- YTD
- 7.74%
- 1Y
- 16.16%
- 3Y*
- 13.90%
- 5Y*
- 9.14%
- 10Y*
- —
- ALL TIME*
- 9.52%
SEPZ
- 1D
- 0.59%
- 1M
- -0.07%
- 6M
- 6.07%
- YTD
- 7.08%
- 1Y
- 16.22%
- 3Y*
- 14.12%
- 5Y*
- 10.57%
- 10Y*
- —
- ALL TIME*
- 12.40%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $20.04K | $26.94K | $122.11K | |
| $230.97K | $255.91K | $416.21K |
JUNZ vs. SEPZ - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
JUNZ TrueShares Structured Outcome (June) ETF | 7.74% | 12.83% | 17.32% | 17.28% | -12.97% | 9.87% |
SEPZ TrueShares Structured Outcome (September) ETF | 7.08% | 13.18% | 18.23% | 17.94% | -8.51% | 11.05% |
Correlation
The correlation between JUNZ and SEPZ is 0.96 - they have historically moved very closely together. At this level, their price movements offset little of one another.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.96 |
Correlation (3Y) Balances recent behavior with more history. | 0.98 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.98 |
Correlation (All Time) Calculated using the full available price history since Jun 1, 2021 | 0.98 |
The correlation between JUNZ and SEPZ has been stable across timeframes, ranging from 0.96 to 0.98 - a consistent structural relationship.
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Return for Risk
JUNZ vs. SEPZ — Risk / Return Rank
JUNZ
SEPZ
JUNZ vs. SEPZ - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for TrueShares Structured Outcome (June) ETF (JUNZ) and TrueShares Structured Outcome (September) ETF (SEPZ). 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.
| JUNZ | SEPZ | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.12 | ||
| Sortino ratioReturn per unit of downside risk | +0.13 | ||
| Omega ratioGain probability vs. loss probability | 1.25 | 1.23 | +0.02 |
| Calmar ratioReturn relative to maximum drawdown | 1.81 | 1.95 | -0.14 |
| Martin ratioReturn relative to average drawdown | 7.56 | 7.79 | -0.23 |
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Drawdowns
JUNZ vs. SEPZ - Drawdown Comparison
The maximum JUNZ drawdown since its inception was -17.88%, which is greater than SEPZ's maximum drawdown of -15.22%. Use the drawdown chart below to compare losses from any high point for JUNZ and SEPZ.
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Drawdown Indicators
| JUNZ | SEPZ | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -17.88% | -15.22% | -2.66% |
Max Drawdown (1Y)Largest decline over 1 year | -8.27% | -7.30% | -0.97% |
Max Drawdown (3Y)Largest decline over 3 years | -14.06% | -14.57% | +0.51% |
Max Drawdown (5Y)Largest decline over 5 years | -17.88% | -15.22% | -2.66% |
Current DrawdownCurrent decline from peak | -1.02% | -1.89% | +0.87% |
Average DrawdownAverage peak-to-trough decline | -4.18% | -2.82% | -1.36% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.97% | 1.82% | +0.15% |
Volatility
JUNZ vs. SEPZ - Volatility Comparison
The current volatility for TrueShares Structured Outcome (June) ETF (JUNZ) is 2.66%, while TrueShares Structured Outcome (September) ETF (SEPZ) has a volatility of 3.06%. This indicates that JUNZ experiences smaller price fluctuations and is considered to be less risky than SEPZ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| JUNZ | SEPZ | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.66% | 3.06% | -0.40% |
Volatility (6M)Calculated over the trailing 6-month period | 8.31% | 8.53% | -0.22% |
Volatility (1Y)Calculated over the trailing 1-year period | 10.57% | 10.99% | -0.42% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 11.82% | 12.41% | -0.59% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 11.70% | 12.48% | -0.78% |
JUNZ vs. SEPZ - Expense Ratio Comparison
JUNZ has a 0.79% expense ratio, which is lower than SEPZ's 0.80% expense ratio.
Dividends
JUNZ vs. SEPZ - Dividend Comparison
JUNZ's dividend yield for the trailing twelve months is around 2.13%, more than SEPZ's 2.05% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|---|
JUNZ TrueShares Structured Outcome (June) ETF | 2.13% | 2.30% | 3.97% | 6.03% | 0.56% | 0.32% |
SEPZ TrueShares Structured Outcome (September) ETF | 2.05% | 2.20% | 3.62% | 3.55% | 0.69% | 0.05% |
Frequently Asked Questions
With a correlation of 0.96, JUNZ and SEPZ 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.
SEPZ has higher volatility (3.06%) compared to JUNZ (2.66%). In terms of maximum drawdown, JUNZ dropped -17.88% vs SEPZ's -15.22%.
On 5-year performance, SEPZ leads with 10.57% vs 9.14% for JUNZ. On fees, JUNZ is cheaper at 0.79% per year. On volatility, JUNZ has been the lower-risk option at 2.66%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, SEPZ has performed better with a 10.57% return vs 9.14%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
JUNZ is cheaper with a 0.79% expense ratio, compared with 0.80% for SEPZ.
JUNZ has the higher dividend yield at 2.13%, compared with 2.05% for SEPZ.
JUNZ is categorized as Defined Outcome, while SEPZ is Options Trading. JUNZ tracks S&P 500 Price Return Index, while SEPZ tracks Cboe S&P 500 Buffer Protect Index September. Their fees differ too: 0.79% for JUNZ and 0.80% for SEPZ.
JUNZ currently has the higher Sharpe Ratio (1.41 vs 1.29), 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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