MAYZ vs. JULZ
MAYZ (TrueShares Structured Outcome (May) ETF) and JULZ (Trueshares Structured Outcome (July) ETF) are both exchange-traded funds - MAYZ is a Defined Outcome fund tracking the S&P 500 Price Index, while JULZ is a Options Trading fund tracking the Cboe S&P 500 Buffer Protect Index July. Both are passively managed. Over the past 5 years, MAYZ returned 9.61%/yr vs 11.28%/yr for JULZ. With a 0.98 correlation, they move nearly in lockstep. Both charge a 0.79% expense ratio.
Performance
MAYZ vs. JULZ - Performance Comparison
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Returns By Period
The year-to-date returns for both investments are quite close, with MAYZ having a 8.56% return and JULZ slightly higher at 8.79%.
MAYZ
- 1D
- -0.45%
- 1M
- 4.24%
- YTD
- 8.56%
- 6M
- 8.43%
- 1Y
- 21.69%
- 3Y*
- 16.62%
- 5Y*
- 9.61%
- 10Y*
- —
JULZ
- 1D
- -0.52%
- 1M
- 4.36%
- YTD
- 8.79%
- 6M
- 8.56%
- 1Y
- 22.07%
- 3Y*
- 16.86%
- 5Y*
- 11.28%
- 10Y*
- —
MAYZ vs. JULZ - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
MAYZ TrueShares Structured Outcome (May) ETF | 8.56% | 13.70% | 17.68% | 15.90% | -13.98% | 10.09% |
JULZ Trueshares Structured Outcome (July) ETF | 8.79% | 13.23% | 18.76% | 17.65% | -9.34% | 10.34% |
Correlation
The correlation between MAYZ and JULZ is 0.97 - 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 | 0.97 |
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 May 4, 2021 | 0.98 |
The correlation between MAYZ and JULZ has been stable across timeframes, ranging from 0.97 to 0.98 - a consistent structural relationship.
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Return for Risk
MAYZ vs. JULZ — Risk / Return Rank
MAYZ
JULZ
MAYZ vs. JULZ - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for TrueShares Structured Outcome (May) ETF (MAYZ) and Trueshares Structured Outcome (July) ETF (JULZ). 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.
| MAYZ | JULZ | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.06 | ||
| Sortino ratioReturn per unit of downside risk | -0.08 | ||
| Omega ratioGain probability vs. loss probability | 1.38 | 1.39 | -0.01 |
| Calmar ratioReturn relative to maximum drawdown | 2.49 | 2.60 | -0.11 |
| Martin ratioReturn relative to average drawdown | 11.30 | 11.36 | -0.06 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| MAYZ | JULZ | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.10 | 2.16 | -0.06 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.80 | 0.93 | -0.13 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.80 | 1.15 | -0.35 |
Drawdowns
MAYZ vs. JULZ - Drawdown Comparison
The maximum MAYZ drawdown since its inception was -19.23%, which is greater than JULZ's maximum drawdown of -14.71%. Use the drawdown chart below to compare losses from any high point for MAYZ and JULZ.
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Drawdown Indicators
| MAYZ | JULZ | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -19.23% | -14.71% | -4.52% |
Max Drawdown (1Y)Largest decline over 1 year | -8.73% | -8.53% | -0.20% |
Max Drawdown (3Y)Largest decline over 3 years | -13.88% | -14.71% | +0.83% |
Max Drawdown (5Y)Largest decline over 5 years | -19.23% | -14.71% | -4.52% |
Current DrawdownCurrent decline from peak | -0.45% | -0.52% | +0.07% |
Average DrawdownAverage peak-to-trough decline | -4.77% | -2.98% | -1.79% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.92% | 1.95% | -0.03% |
Volatility
MAYZ vs. JULZ - Volatility Comparison
The current volatility for TrueShares Structured Outcome (May) ETF (MAYZ) is 2.38%, while Trueshares Structured Outcome (July) ETF (JULZ) has a volatility of 2.61%. This indicates that MAYZ experiences smaller price fluctuations and is considered to be less risky than JULZ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| MAYZ | JULZ | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.38% | 2.61% | -0.23% |
Volatility (6M)Calculated over the trailing 6-month period | 8.28% | 8.05% | +0.23% |
Volatility (1Y)Calculated over the trailing 1-year period | 10.37% | 10.25% | +0.12% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 12.07% | 12.19% | -0.12% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 12.04% | 12.32% | -0.28% |
MAYZ vs. JULZ - Expense Ratio Comparison
Both MAYZ and JULZ have an expense ratio of 0.79%.
Dividends
MAYZ vs. JULZ - Dividend Comparison
MAYZ's dividend yield for the trailing twelve months is around 1.98%, less than JULZ's 11.00% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|---|
JULZ Trueshares Structured Outcome (July) ETF | 11.00% | 11.96% | 3.30% | 3.59% | 0.07% | 0.00% |
MAYZ TrueShares Structured Outcome (May) ETF | 1.98% | 2.15% | 1.95% | 2.75% | 0.69% | 1.90% |
Frequently Asked Questions
With a correlation of 0.97, MAYZ and JULZ 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.
JULZ has higher volatility (2.61%) compared to MAYZ (2.38%). In terms of maximum drawdown, MAYZ dropped -19.23% vs JULZ's -14.71%.
On 5-year performance, JULZ leads with 11.28% vs 9.61% for MAYZ. Both ETFs have the same 0.79% expense ratio. On volatility, MAYZ has been the lower-risk option at 2.38%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, JULZ has performed better with a 11.28% return vs 9.61%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
MAYZ and JULZ have the same expense ratio: 0.79% per year.
JULZ has the higher dividend yield at 11.00%, compared with 1.98% for MAYZ.
MAYZ is categorized as Defined Outcome, while JULZ is Options Trading. MAYZ tracks S&P 500 Price Index, while JULZ tracks Cboe S&P 500 Buffer Protect Index July.
JULZ currently has the higher Sharpe Ratio (2.16 vs 2.10), 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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