MARZ vs. EAPR
MARZ (TrueShares Structured Outcome (March) ETF) and EAPR (Innovator Emerging Markets Power Buffer ETF - April) are both Defined Outcome funds - MARZ tracks the S&P 500 Price Index while EAPR tracks the MSCI Emerging Markets. Both are passively managed. Over the past 5 years, MARZ returned 10.09%/yr vs 4.84%/yr for EAPR. A 0.58 correlation means they provide meaningful diversification when combined. MARZ charges 0.79%/yr vs 0.89%/yr for EAPR.
Performance
MARZ vs. EAPR - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, MARZ achieves a 5.94% return, which is significantly lower than EAPR's 9.33% return.
MARZ
- 1D
- -0.98%
- 1M
- -0.81%
- YTD
- 5.94%
- 6M
- 5.20%
- 1Y
- 17.26%
- 3Y*
- 14.94%
- 5Y*
- 10.09%
- 10Y*
- —
EAPR
- 1D
- -2.64%
- 1M
- -0.09%
- YTD
- 9.33%
- 6M
- 9.33%
- 1Y
- 18.07%
- 3Y*
- 9.89%
- 5Y*
- 4.84%
- 10Y*
- —
MARZ vs. EAPR - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
MARZ TrueShares Structured Outcome (March) ETF | 5.94% | 12.90% | 17.90% | 20.37% | -12.70% | 14.88% |
EAPR Innovator Emerging Markets Power Buffer ETF - April | 9.33% | 14.80% | 2.86% | 8.19% | -5.01% | -2.89% |
Correlation
The correlation between MARZ and EAPR is 0.59, 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 | 0.59 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.58 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.59 |
Correlation (All Time) Calculated using the full available price history since Apr 1, 2021 | 0.59 |
The correlation between MARZ and EAPR has been stable across timeframes, ranging from 0.58 to 0.59 - a consistent structural relationship.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
MARZ vs. EAPR — Risk / Return Rank
MARZ
EAPR
MARZ vs. EAPR - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for TrueShares Structured Outcome (March) ETF (MARZ) and Innovator Emerging Markets Power Buffer ETF - April (EAPR). 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.
| MARZ | EAPR | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.38 | ||
| Sortino ratioReturn per unit of downside risk | -0.74 | ||
| Omega ratioGain probability vs. loss probability | 1.31 | 1.57 | -0.26 |
| Calmar ratioReturn relative to maximum drawdown | 2.33 | 4.65 | -2.33 |
| Martin ratioReturn relative to average drawdown | 9.76 | 25.14 | -15.37 |
Loading charts...
Drawdowns
MARZ vs. EAPR - Drawdown Comparison
The maximum MARZ drawdown since its inception was -18.89%, which is greater than EAPR's maximum drawdown of -17.65%. Use the drawdown chart below to compare losses from any high point for MARZ and EAPR.
Loading charts...
Drawdown Indicators
| MARZ | EAPR | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -18.89% | -17.65% | -1.24% |
Max Drawdown (1Y)Largest decline over 1 year | -7.45% | -3.90% | -3.55% |
Max Drawdown (3Y)Largest decline over 3 years | -14.84% | -10.24% | -4.60% |
Max Drawdown (5Y)Largest decline over 5 years | -18.89% | -17.65% | -1.24% |
Current DrawdownCurrent decline from peak | -2.32% | -2.64% | +0.32% |
Average DrawdownAverage peak-to-trough decline | -3.99% | -4.04% | +0.05% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.77% | 0.72% | +1.05% |
Volatility
MARZ vs. EAPR - Volatility Comparison
The current volatility for TrueShares Structured Outcome (March) ETF (MARZ) is 3.62%, while Innovator Emerging Markets Power Buffer ETF - April (EAPR) has a volatility of 5.46%. This indicates that MARZ experiences smaller price fluctuations and is considered to be less risky than EAPR based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| MARZ | EAPR | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.62% | 5.46% | -1.84% |
Volatility (6M)Calculated over the trailing 6-month period | 8.03% | 8.07% | -0.04% |
Volatility (1Y)Calculated over the trailing 1-year period | 10.15% | 8.68% | +1.47% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 12.36% | 10.33% | +2.03% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 12.23% | 10.21% | +2.02% |
MARZ vs. EAPR - Expense Ratio Comparison
MARZ has a 0.79% expense ratio, which is lower than EAPR's 0.89% expense ratio.
Dividends
MARZ vs. EAPR - Dividend Comparison
MARZ's dividend yield for the trailing twelve months is around 3.11%, while EAPR has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|---|
EAPR Innovator Emerging Markets Power Buffer ETF - April | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
MARZ TrueShares Structured Outcome (March) ETF | 3.11% | 3.30% | 4.55% | 7.33% | 0.78% | 2.43% |
Frequently Asked Questions
MARZ and EAPR have a correlation of 0.59, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
EAPR has higher volatility (5.46%) compared to MARZ (3.62%). In terms of maximum drawdown, MARZ dropped -18.89% vs EAPR's -17.65%.
On 5-year performance, MARZ leads with 10.09% vs 4.84% for EAPR. On fees, MARZ is cheaper at 0.79% per year. On volatility, MARZ has been the lower-risk option at 3.62%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, MARZ has performed better with a 10.09% return vs 4.84%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
MARZ is cheaper with a 0.79% expense ratio, compared with 0.89% for EAPR.
MARZ has the higher dividend yield at 3.11%, compared with 0.00% for EAPR.
MARZ tracks S&P 500 Price Index, while EAPR tracks MSCI Emerging Markets. They also come from different issuers: TrueShares and Innovator. Their fees differ too: 0.79% for MARZ and 0.89% for EAPR.
EAPR currently has the higher Sharpe Ratio (2.09 vs 1.71), 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.
Find the right allocation for MARZ and EAPR
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer