OCTZ vs. BUFP

Last updated Jun 4, 2026

OCTZ (TrueShares Structured Outcome (October) ETF) and BUFP (PGIM Laddered S&P 500 Buffer 12 ETF) are both Defined Outcome funds. OCTZ is actively managed, while BUFP is passively managed. Over the past year, OCTZ returned 20.60% vs 17.24% for BUFP. Their correlation of 0.92 suggests significant overlap in exposure. OCTZ charges 0.79%/yr vs 0.50%/yr for BUFP.

Performance

OCTZ vs. BUFP - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in TrueShares Structured Outcome (October) ETF (OCTZ) and PGIM Laddered S&P 500 Buffer 12 ETF (BUFP). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, OCTZ achieves a 8.27% return, which is significantly higher than BUFP's 6.23% return.

OCTZ

• 1D: -0.44%
• 1M: 4.25%
• YTD: 8.27%
• 6M: 8.27%
• 1Y: 20.60%
• 3Y*: 16.44%
• 5Y*: 11.10%
• 10Y*: —

BUFP

• 1D: -0.22%
• 1M: 2.04%
• YTD: 6.23%
• 6M: 7.00%
• 1Y: 17.24%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

OCTZ vs. BUFP - Yearly Performance Comparison

	2026 (YTD)	2025	2024
OCTZ TrueShares Structured Outcome (October) ETF	8.27%	12.89%	6.64%
BUFP PGIM Laddered S&P 500 Buffer 12 ETF	6.23%	12.92%	6.36%

Correlation

The correlation between OCTZ and BUFP is 0.92, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.92
Correlation (All Time) Calculated using the full available price history since Jun 14, 2024	0.92

The correlation between OCTZ and BUFP has been stable across timeframes, ranging from 0.92 to 0.92 - a consistent structural relationship.

OCTZ vs. BUFP - Sectors Allocation Comparison

Sectors	OCTZ	BUFP
Technology	35.3%	36.2%
Financial Services	13.4%	11.9%
Consumer Cyclical	10.6%	10.1%
Communication Services	9.9%	10.9%
Healthcare	8.8%	8.4%
Industrials	7.8%	8.1%
Consumer Defensive	5.2%	4.9%
Energy	3.0%	3.5%
Utilities	2.5%	2.3%
Real Estate	2.0%	1.9%
Basic Materials	1.6%	1.8%

Return for Risk

OCTZ vs. BUFP — Risk / Return Rank

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

OCTZ

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

BUFP

BUFP Risk / Return Rank: 86
BUFP Sharpe Ratio Rank: 84
BUFP Sortino Ratio Rank: 89
BUFP Omega Ratio Rank: 89
BUFP Calmar Ratio Rank: 77
BUFP Martin Ratio Rank: 91

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.

OCTZ vs. BUFP - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for TrueShares Structured Outcome (October) ETF (OCTZ) and PGIM Laddered S&P 500 Buffer 12 ETF (BUFP). 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.

	OCTZ	BUFP	Difference
Sharpe ratio: Return per unit of total volatility	2.21	2.77	-0.56
Sortino ratio: Return per unit of downside risk	3.08	4.12	-1.05
Omega ratio: Gain probability vs. loss probability	1.40	1.58	-0.18
Calmar ratio: Return relative to maximum drawdown	2.83	3.93	-1.10
Martin ratio: Return relative to average drawdown	12.00	21.96	-9.96
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

OCTZ vs. BUFP - Sharpe Ratio Comparison

The current OCTZ Sharpe Ratio is 2.21, which is comparable to the BUFP Sharpe Ratio of 2.77. The chart below compares the historical Sharpe Ratios of OCTZ and BUFP, 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

	OCTZ	BUFP	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.21	2.77	-0.56
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.90	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.07	1.40	-0.33

Drawdowns

OCTZ vs. BUFP - Drawdown Comparison

The maximum OCTZ drawdown since its inception was -15.82%, which is greater than BUFP's maximum drawdown of -11.98%. Use the drawdown chart below to compare losses from any high point for OCTZ and BUFP.

Drawdown Indicators

	OCTZ	BUFP	Difference
Max Drawdown Largest peak-to-trough decline	-15.82%	-11.98%	-3.84%
Max Drawdown (1Y) Largest decline over 1 year	-7.31%	-4.41%	-2.90%
Max Drawdown (3Y) Largest decline over 3 years	-14.07%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-15.82%	—	—
Current Drawdown Current decline from peak	-0.44%	-0.22%	-0.22%
Average Drawdown Average peak-to-trough decline	-3.16%	-1.00%	-2.16%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.72%	0.79%	+0.93%

Volatility

OCTZ vs. BUFP - Volatility Comparison

TrueShares Structured Outcome (October) ETF (OCTZ) has a higher volatility of 2.47% compared to PGIM Laddered S&P 500 Buffer 12 ETF (BUFP) at 0.95%. This indicates that OCTZ's price experiences larger fluctuations and is considered to be riskier than BUFP based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	OCTZ	BUFP	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.47%	0.95%	+1.52%
Volatility (6M) Calculated over the trailing 6-month period	7.26%	4.82%	+2.44%
Volatility (1Y) Calculated over the trailing 1-year period	9.39%	6.27%	+3.12%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	12.40%	9.49%	+2.91%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	12.37%	9.49%	+2.88%

OCTZ vs. BUFP - Expense Ratio Comparison

OCTZ has a 0.79% expense ratio, which is higher than BUFP's 0.50% expense ratio.

Dividends

OCTZ vs. BUFP - Dividend Comparison

OCTZ's dividend yield for the trailing twelve months is around 3.69%, more than BUFP's 0.01% yield.

Position	TTM	2025	2024	2023	2022
BUFP PGIM Laddered S&P 500 Buffer 12 ETF	0.01%	0.01%	0.02%	0.00%	0.00%
OCTZ TrueShares Structured Outcome (October) ETF	3.69%	3.99%	1.26%	3.28%	0.67%

Frequently Asked Questions

Can I hold both OCTZ and BUFP in my portfolio?

With a correlation of 0.92, OCTZ and BUFP 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, OCTZ or BUFP?

OCTZ has higher volatility (2.47%) compared to BUFP (0.95%). In terms of maximum drawdown, OCTZ dropped -15.82% vs BUFP's -11.98%.

Which ETF is better, OCTZ or BUFP?

On 1-year performance, OCTZ leads with 20.60% vs 17.24% for BUFP. On fees, BUFP is cheaper at 0.50% per year. On volatility, BUFP has been the lower-risk option at 0.95%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, OCTZ or BUFP?

Over the 1-year period, OCTZ has performed better with a 20.60% return vs 17.24%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, OCTZ or BUFP?

BUFP is cheaper with a 0.50% expense ratio, compared with 0.79% for OCTZ.

Which ETF pays a higher dividend yield, OCTZ or BUFP?

OCTZ has the higher dividend yield at 3.69%, compared with 0.01% for BUFP.

What is the main difference between OCTZ and BUFP?

They also come from different issuers: TrueShares and PGIM. Their fees differ too: 0.79% for OCTZ and 0.50% for BUFP.

Which has better risk-adjusted returns?

BUFP currently has the higher Sharpe Ratio (2.77 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.