MARZ vs. JUNZ

Last updated Jun 3, 2026

MARZ (TrueShares Structured Outcome (March) ETF) and JUNZ (TrueShares Structured Outcome (June) ETF) are both Defined Outcome funds from TrueShares - MARZ tracks the S&P 500 Price Index while JUNZ tracks the S&P 500 Price Return Index. Both are passively managed. Over the past 5 years, MARZ returned 10.91%/yr vs 10.07%/yr for JUNZ. With a 0.98 correlation, they move nearly in lockstep. Both charge a 0.79% expense ratio.

Performance

MARZ vs. JUNZ - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in TrueShares Structured Outcome (March) ETF (MARZ) and TrueShares Structured Outcome (June) ETF (JUNZ). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both investments are quite close, with MARZ having a 8.46% return and JUNZ slightly higher at 8.85%.

MARZ

• 1D: 0.07%
• 1M: 4.24%
• YTD: 8.46%
• 6M: 8.58%
• 1Y: 21.45%
• 3Y*: 16.35%
• 5Y*: 10.91%
• 10Y*: —

JUNZ

• 1D: 0.10%
• 1M: 4.10%
• YTD: 8.85%
• 6M: 9.06%
• 1Y: 22.21%
• 3Y*: 16.37%
• 5Y*: 10.07%
• 10Y*: —

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

MARZ vs. JUNZ - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
MARZ TrueShares Structured Outcome (March) ETF	8.46%	12.90%	17.90%	20.37%	-12.70%	10.45%
JUNZ TrueShares Structured Outcome (June) ETF	8.85%	12.83%	17.32%	17.28%	-12.97%	9.81%

Correlation

The correlation between MARZ and JUNZ is 0.98 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.98
Correlation (3Y) Calculated over the trailing 3-year period	0.99
Correlation (5Y) Calculated over the trailing 5-year period	0.98
Correlation (All Time) Calculated using the full available price history since Jun 2, 2021	0.98

The correlation between MARZ and JUNZ has been stable across timeframes, ranging from 0.98 to 0.99 - a consistent structural relationship.

Return for Risk

MARZ vs. JUNZ — Risk / Return Rank

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

MARZ

MARZ Risk / Return Rank: 64
MARZ Sharpe Ratio Rank: 66
MARZ Sortino Ratio Rank: 65
MARZ Omega Ratio Rank: 65
MARZ Calmar Ratio Rank: 58
MARZ Martin Ratio Rank: 67

JUNZ

JUNZ Risk / Return Rank: 63
JUNZ Sharpe Ratio Rank: 66
JUNZ Sortino Ratio Rank: 66
JUNZ Omega Ratio Rank: 65
JUNZ Calmar Ratio Rank: 54
JUNZ Martin Ratio Rank: 65

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.

MARZ vs. JUNZ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for TrueShares Structured Outcome (March) ETF (MARZ) and TrueShares Structured Outcome (June) ETF (JUNZ). 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.

	MARZ	JUNZ	Difference
Sharpe ratio Return per unit of total volatility	2.22	2.23	-0.01
Sortino ratio Return per unit of downside risk	3.06	3.10	-0.04
Omega ratio Gain probability vs. loss probability	1.40	1.40	0.00
Calmar ratio Return relative to maximum drawdown	2.92	2.73	+0.19
Martin ratio Return relative to average drawdown	12.65	12.04	+0.61
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

MARZ vs. JUNZ - Sharpe Ratio Comparison

The current MARZ Sharpe Ratio is 2.22, which is comparable to the JUNZ Sharpe Ratio of 2.23. The chart below compares the historical Sharpe Ratios of MARZ and JUNZ, 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

	MARZ	JUNZ	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.22	2.23	-0.01
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.89	0.86	+0.03
Sharpe Ratio (All Time) Calculated using the full available price history	0.95	0.86	+0.09

Drawdowns

MARZ vs. JUNZ - Drawdown Comparison

The maximum MARZ drawdown since its inception was -18.89%, which is greater than JUNZ's maximum drawdown of -17.88%. Use the drawdown chart below to compare losses from any high point for MARZ and JUNZ.

Drawdown Indicators

	MARZ	JUNZ	Difference
Max Drawdown Largest peak-to-trough decline	-18.89%	-17.88%	-1.01%
Max Drawdown (1Y) Largest decline over 1 year	-7.45%	-8.27%	+0.82%
Max Drawdown (3Y) Largest decline over 3 years	-14.84%	-14.06%	-0.78%
Max Drawdown (5Y) Largest decline over 5 years	-18.89%	-17.88%	-1.01%
Current Drawdown Current decline from peak	0.00%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	-4.02%	-4.28%	+0.26%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.72%	1.88%	-0.16%

Volatility

MARZ vs. JUNZ - Volatility Comparison

The current volatility for TrueShares Structured Outcome (March) ETF (MARZ) is 2.31%, while TrueShares Structured Outcome (June) ETF (JUNZ) has a volatility of 2.44%. This indicates that MARZ experiences smaller price fluctuations and is considered to be less risky than JUNZ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	MARZ	JUNZ	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.31%	2.44%	-0.13%
Volatility (6M) Calculated over the trailing 6-month period	7.45%	7.86%	-0.41%
Volatility (1Y) Calculated over the trailing 1-year period	9.69%	10.00%	-0.31%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	12.29%	11.74%	+0.55%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	12.21%	11.74%	+0.47%

MARZ vs. JUNZ - Expense Ratio Comparison

Both MARZ and JUNZ have an expense ratio of 0.79%.

Dividends

MARZ vs. JUNZ - Dividend Comparison

MARZ's dividend yield for the trailing twelve months is around 3.04%, more than JUNZ's 2.11% yield.

Position	TTM	2025	2024	2023	2022	2021
JUNZ TrueShares Structured Outcome (June) ETF	2.11%	2.30%	3.97%	6.03%	0.56%	0.32%
MARZ TrueShares Structured Outcome (March) ETF	3.04%	3.30%	4.55%	7.33%	0.78%	2.43%

Frequently Asked Questions

Can I hold both MARZ and JUNZ in my portfolio?

With a correlation of 0.98, MARZ and JUNZ 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.

Which is riskier, MARZ or JUNZ?

JUNZ has higher volatility (2.44%) compared to MARZ (2.31%). In terms of maximum drawdown, MARZ dropped -18.89% vs JUNZ's -17.88%.

Which ETF is better, MARZ or JUNZ?

On 5-year performance, MARZ leads with 10.91% vs 10.07% for JUNZ. Both ETFs have the same 0.79% expense ratio. On volatility, MARZ has been the lower-risk option at 2.31%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, MARZ or JUNZ?

Over the 5-year period, MARZ has performed better with a 10.91% return vs 10.07%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, MARZ or JUNZ?

MARZ and JUNZ have the same expense ratio: 0.79% per year.

Which ETF pays a higher dividend yield, MARZ or JUNZ?

MARZ has the higher dividend yield at 3.04%, compared with 2.11% for JUNZ.

What is the main difference between MARZ and JUNZ?

MARZ tracks S&P 500 Price Index, while JUNZ tracks S&P 500 Price Return Index.

Which has better risk-adjusted returns?

JUNZ currently has the higher Sharpe Ratio (2.23 vs 2.22), 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.