MAYZ vs. MARZ

Last updated Jun 4, 2026

MAYZ (TrueShares Structured Outcome (May) ETF) and MARZ (TrueShares Structured Outcome (March) ETF) are both Defined Outcome funds from TrueShares tracking the S&P 500 Price Index. Both are passively managed. Over the past 5 years, MAYZ returned 9.61%/yr vs 10.65%/yr for MARZ. With a 0.98 correlation, they move nearly in lockstep. Both charge a 0.79% expense ratio.

Performance

MAYZ vs. MARZ - Performance Comparison

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

Returns By Period

In the year-to-date period, MAYZ achieves a 8.56% return, which is significantly higher than MARZ's 7.95% return.

MAYZ

• 1D: -0.45%
• 1M: 4.24%
• YTD: 8.56%
• 6M: 8.43%
• 1Y: 21.69%
• 3Y*: 16.62%
• 5Y*: 9.61%
• 10Y*: —

MARZ

• 1D: -0.48%
• 1M: 4.18%
• YTD: 7.95%
• 6M: 7.73%
• 1Y: 20.32%
• 3Y*: 16.16%
• 5Y*: 10.65%
• 10Y*: —

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

MAYZ vs. MARZ - 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%
MARZ TrueShares Structured Outcome (March) ETF	7.95%	12.90%	17.90%	20.37%	-12.70%	10.61%

Correlation

The correlation between MAYZ and MARZ 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 May 4, 2021	0.98

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

Return for Risk

MAYZ vs. MARZ — Risk / Return Rank

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

MAYZ

MAYZ Risk / Return Rank: 62
MAYZ Sharpe Ratio Rank: 64
MAYZ Sortino Ratio Rank: 65
MAYZ Omega Ratio Rank: 64
MAYZ Calmar Ratio Rank: 51
MAYZ Martin Ratio Rank: 63

MARZ

MARZ Risk / Return Rank: 62
MARZ Sharpe Ratio Rank: 63
MARZ Sortino Ratio Rank: 63
MARZ Omega Ratio Rank: 62
MARZ Calmar Ratio Rank: 56
MARZ 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.

MAYZ vs. MARZ - 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 (March) ETF (MARZ). 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	MARZ	Difference
Sharpe ratio: Return per unit of total volatility	2.10	2.10	0.00
Sortino ratio: Return per unit of downside risk	2.95	2.91	+0.04
Omega ratio: Gain probability vs. loss probability	1.38	1.38	0.00
Calmar ratio: Return relative to maximum drawdown	2.49	2.74	-0.24
Martin ratio: Return relative to average drawdown	11.30	11.85	-0.55
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

MAYZ vs. MARZ - Sharpe Ratio Comparison

The current MAYZ Sharpe Ratio is 2.10, which is comparable to the MARZ Sharpe Ratio of 2.10. The chart below compares the historical Sharpe Ratios of MAYZ and MARZ, 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

	MAYZ	MARZ	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.10	2.10	0.00
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.80	0.87	-0.07
Sharpe Ratio (All Time) Calculated using the full available price history	0.80	0.94	-0.14

Drawdowns

MAYZ vs. MARZ - Drawdown Comparison

The maximum MAYZ drawdown since its inception was -19.23%, roughly equal to the maximum MARZ drawdown of -18.89%. Use the drawdown chart below to compare losses from any high point for MAYZ and MARZ.

Drawdown Indicators

	MAYZ	MARZ	Difference
Max Drawdown Largest peak-to-trough decline	-19.23%	-18.89%	-0.34%
Max Drawdown (1Y) Largest decline over 1 year	-8.73%	-7.45%	-1.28%
Max Drawdown (3Y) Largest decline over 3 years	-13.88%	-14.84%	+0.96%
Max Drawdown (5Y) Largest decline over 5 years	-19.23%	-18.89%	-0.34%
Current Drawdown Current decline from peak	-0.45%	-0.48%	+0.03%
Average Drawdown Average peak-to-trough decline	-4.77%	-4.02%	-0.75%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.92%	1.72%	+0.20%

Volatility

MAYZ vs. MARZ - Volatility Comparison

TrueShares Structured Outcome (May) ETF (MAYZ) and TrueShares Structured Outcome (March) ETF (MARZ) have volatilities of 2.38% and 2.33%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	MAYZ	MARZ	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.38%	2.33%	+0.05%
Volatility (6M) Calculated over the trailing 6-month period	8.28%	7.46%	+0.82%
Volatility (1Y) Calculated over the trailing 1-year period	10.37%	9.71%	+0.66%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	12.07%	12.29%	-0.22%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	12.04%	12.20%	-0.16%

MAYZ vs. MARZ - Expense Ratio Comparison

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

Dividends

MAYZ vs. MARZ - Dividend Comparison

MAYZ's dividend yield for the trailing twelve months is around 1.98%, less than MARZ's 3.06% yield.

Position	TTM	2025	2024	2023	2022	2021
MARZ TrueShares Structured Outcome (March) ETF	3.06%	3.30%	4.55%	7.33%	0.78%	2.43%
MAYZ TrueShares Structured Outcome (May) ETF	1.98%	2.15%	1.95%	2.75%	0.69%	1.90%

Frequently Asked Questions

Can I hold both MAYZ and MARZ in my portfolio?

With a correlation of 0.98, MAYZ and MARZ 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, MAYZ or MARZ?

MAYZ has higher volatility (2.38%) compared to MARZ (2.33%). In terms of maximum drawdown, MAYZ dropped -19.23% vs MARZ's -18.89%.

Which ETF is better, MAYZ or MARZ?

On 5-year performance, MARZ leads with 10.65% vs 9.61% for MAYZ. Both ETFs have the same 0.79% expense ratio. Their volatility is very similar. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, MAYZ or MARZ?

Over the 5-year period, MARZ has performed better with a 10.65% return vs 9.61%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, MAYZ or MARZ?

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

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

MARZ has the higher dividend yield at 3.06%, compared with 1.98% for MAYZ.

What is the main difference between MAYZ and MARZ?

Both ETFs track S&P 500 Price Index.

Which has better risk-adjusted returns?

MARZ currently has the higher Sharpe Ratio (2.10 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.