NOVZ vs. IBID
NOVZ (TrueShares Structured Outcome (November) ETF) and IBID (iShares iBonds Oct 2027 Term TIPS ETF) are both exchange-traded funds - NOVZ is a Options Trading fund actively managed by TrueShares, while IBID is a Inflation-Protected Bonds fund tracking the ICE 2027 Maturity US Inflation-Linked Treasury Index. NOVZ is actively managed, while IBID is passively managed. Over the past year, NOVZ returned 20.61% vs 4.83% for IBID. At a 0.02 correlation, their price movements are largely independent. NOVZ charges 0.79%/yr vs 0.10%/yr for IBID.
Performance
NOVZ vs. IBID - Performance Comparison
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Returns By Period
In the year-to-date period, NOVZ achieves a 8.13% return, which is significantly higher than IBID's 2.46% return.
NOVZ
- 1D
- -0.59%
- 1M
- 4.10%
- YTD
- 8.13%
- 6M
- 8.04%
- 1Y
- 20.61%
- 3Y*
- 16.53%
- 5Y*
- 11.35%
- 10Y*
- —
IBID
- 1D
- 0.08%
- 1M
- 0.49%
- YTD
- 2.46%
- 6M
- 2.57%
- 1Y
- 4.83%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
NOVZ vs. IBID - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
NOVZ TrueShares Structured Outcome (November) ETF | 8.13% | 13.03% | 19.09% | 5.40% |
IBID iShares iBonds Oct 2027 Term TIPS ETF | 2.46% | 5.66% | 4.71% | 2.61% |
Correlation
The correlation between NOVZ and IBID is -0.16, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.16 |
Correlation (All Time) Calculated using the full available price history since Sep 18, 2023 | 0.02 |
The correlation between NOVZ and IBID shifts across timeframes, from -0.16 (1 year) to 0.02 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
NOVZ vs. IBID — Risk / Return Rank
NOVZ
IBID
NOVZ vs. IBID - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for TrueShares Structured Outcome (November) ETF (NOVZ) and iShares iBonds Oct 2027 Term TIPS ETF (IBID). 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.
| NOVZ | IBID | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.70 | ||
| Sortino ratioReturn per unit of downside risk | -3.71 | ||
| Omega ratioGain probability vs. loss probability | 1.40 | 1.94 | -0.54 |
| Calmar ratioReturn relative to maximum drawdown | 3.08 | 13.33 | -10.24 |
| Martin ratioReturn relative to average drawdown | 13.64 | 39.52 | -25.88 |
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
| NOVZ | IBID | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.21 | 3.91 | -1.70 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.89 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 1.11 | 2.56 | -1.45 |
Drawdowns
NOVZ vs. IBID - Drawdown Comparison
The maximum NOVZ drawdown since its inception was -16.62%, which is greater than IBID's maximum drawdown of -1.28%. Use the drawdown chart below to compare losses from any high point for NOVZ and IBID.
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Drawdown Indicators
| NOVZ | IBID | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -16.62% | -1.28% | -15.34% |
Max Drawdown (1Y)Largest decline over 1 year | -6.72% | -0.36% | -6.36% |
Max Drawdown (3Y)Largest decline over 3 years | -14.63% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -16.62% | — | — |
Current DrawdownCurrent decline from peak | -0.59% | 0.00% | -0.59% |
Average DrawdownAverage peak-to-trough decline | -3.06% | -0.22% | -2.84% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.51% | 0.12% | +1.39% |
Volatility
NOVZ vs. IBID - Volatility Comparison
TrueShares Structured Outcome (November) ETF (NOVZ) has a higher volatility of 2.35% compared to iShares iBonds Oct 2027 Term TIPS ETF (IBID) at 0.32%. This indicates that NOVZ's price experiences larger fluctuations and is considered to be riskier than IBID based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| NOVZ | IBID | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.35% | 0.32% | +2.03% |
Volatility (6M)Calculated over the trailing 6-month period | 6.97% | 0.80% | +6.17% |
Volatility (1Y)Calculated over the trailing 1-year period | 9.39% | 1.25% | +8.14% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 12.87% | 2.25% | +10.62% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 12.71% | 2.25% | +10.46% |
NOVZ vs. IBID - Expense Ratio Comparison
NOVZ has a 0.79% expense ratio, which is higher than IBID's 0.10% expense ratio.
Dividends
NOVZ vs. IBID - Dividend Comparison
NOVZ's dividend yield for the trailing twelve months is around 3.32%, less than IBID's 3.66% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|---|
IBID iShares iBonds Oct 2027 Term TIPS ETF | 3.66% | 4.43% | 4.24% | 0.81% | 0.00% | 0.00% |
NOVZ TrueShares Structured Outcome (November) ETF | 3.32% | 3.58% | 2.94% | 2.27% | 0.25% | 0.52% |
Frequently Asked Questions
NOVZ and IBID have a correlation of -0.16, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
NOVZ has higher volatility (2.35%) compared to IBID (0.32%). In terms of maximum drawdown, NOVZ dropped -16.62% vs IBID's -1.28%.
On 1-year performance, NOVZ leads with 20.61% vs 4.83% for IBID. On fees, IBID is cheaper at 0.10% per year. On volatility, IBID has been the lower-risk option at 0.32%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, NOVZ has performed better with a 20.61% return vs 4.83%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
IBID is cheaper with a 0.10% expense ratio, compared with 0.79% for NOVZ.
IBID has the higher dividend yield at 3.66%, compared with 3.32% for NOVZ.
NOVZ is categorized as Options Trading, while IBID is Inflation-Protected Bonds. They also come from different issuers: TrueShares and iShares. Their fees differ too: 0.79% for NOVZ and 0.10% for IBID.
IBID currently has the higher Sharpe Ratio (3.91 vs 2.21), 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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