OCTZ vs. ERNZ

Last updated Jun 4, 2026

OCTZ (TrueShares Structured Outcome (October) ETF) and ERNZ (TrueShares Active Yield ETF) are both exchange-traded funds - OCTZ is a Defined Outcome fund actively managed by TrueShares, while ERNZ is a Large Cap Blend Equities fund actively managed by TrueShares. Both are actively managed. Over the past year, OCTZ returned 20.60% vs 2.28% for ERNZ. A 0.56 correlation means they provide meaningful diversification when combined. OCTZ charges 0.79%/yr vs 0.75%/yr for ERNZ.

Performance

OCTZ vs. ERNZ - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in TrueShares Structured Outcome (October) ETF (OCTZ) and TrueShares Active Yield ETF (ERNZ). 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 ERNZ's 4.89% return.

OCTZ

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

ERNZ

• 1D: 0.00%
• 1M: 0.00%
• YTD: 4.89%
• 6M: 3.58%
• 1Y: 2.28%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

OCTZ vs. ERNZ - Yearly Performance Comparison

	2026 (YTD)	2025	2024
OCTZ TrueShares Structured Outcome (October) ETF	8.27%	12.89%	14.02%
ERNZ TrueShares Active Yield ETF	4.89%	-6.50%	3.43%

Correlation

The correlation between OCTZ and ERNZ is 0.40, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.40
Correlation (All Time) Calculated using the full available price history since May 2, 2024	0.56

The correlation between OCTZ and ERNZ shifts across timeframes, from 0.40 (1 year) to 0.56 (all time), reflecting how their relationship changes across market environments.

OCTZ vs. ERNZ - Sectors Allocation Comparison

Sectors	OCTZ	ERNZ
Technology	35.3%	3.3%
Financial Services	13.4%	24.6%
Consumer Cyclical	10.6%	10.1%
Communication Services	9.9%	3.5%
Healthcare	8.8%	5.8%
Industrials	7.8%	2.9%
Consumer Defensive	5.2%	8.7%
Energy	3.0%	23.0%
Utilities	2.5%	3.5%
Real Estate	2.0%	8.7%
Basic Materials	1.6%	6.1%

Return for Risk

OCTZ vs. ERNZ — 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

ERNZ

ERNZ Risk / Return Rank: 12
ERNZ Sharpe Ratio Rank: 12
ERNZ Sortino Ratio Rank: 12
ERNZ Omega Ratio Rank: 12
ERNZ Calmar Ratio Rank: 11
ERNZ Martin Ratio Rank: 11

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. ERNZ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for TrueShares Structured Outcome (October) ETF (OCTZ) and TrueShares Active Yield ETF (ERNZ). 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	ERNZ	Difference
Sharpe ratio: Return per unit of total volatility	2.21	0.24	+1.97
Sortino ratio: Return per unit of downside risk	3.08	0.42	+2.66
Omega ratio: Gain probability vs. loss probability	1.40	1.05	+0.34
Calmar ratio: Return relative to maximum drawdown	2.83	0.22	+2.61
Martin ratio: Return relative to average drawdown	12.00	0.47	+11.54
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. ERNZ - Sharpe Ratio Comparison

The current OCTZ Sharpe Ratio is 2.21, which is higher than the ERNZ Sharpe Ratio of 0.24. The chart below compares the historical Sharpe Ratios of OCTZ and ERNZ, 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	ERNZ	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.21	0.24	+1.97
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	0.06	+1.01

Drawdowns

OCTZ vs. ERNZ - Drawdown Comparison

The maximum OCTZ drawdown since its inception was -15.82%, which is greater than ERNZ's maximum drawdown of -14.16%. Use the drawdown chart below to compare losses from any high point for OCTZ and ERNZ.

Drawdown Indicators

	OCTZ	ERNZ	Difference
Max Drawdown Largest peak-to-trough decline	-15.82%	-14.16%	-1.66%
Max Drawdown (1Y) Largest decline over 1 year	-7.31%	-10.61%	+3.30%
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%	-5.59%	+5.15%
Average Drawdown Average peak-to-trough decline	-3.16%	-4.58%	+1.42%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.72%	4.88%	-3.16%

Volatility

OCTZ vs. ERNZ - Volatility Comparison

TrueShares Structured Outcome (October) ETF (OCTZ) has a higher volatility of 2.47% compared to TrueShares Active Yield ETF (ERNZ) at 0.00%. This indicates that OCTZ's price experiences larger fluctuations and is considered to be riskier than ERNZ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	OCTZ	ERNZ	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.47%	0.00%	+2.47%
Volatility (6M) Calculated over the trailing 6-month period	7.26%	4.40%	+2.86%
Volatility (1Y) Calculated over the trailing 1-year period	9.39%	9.75%	-0.36%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	12.40%	11.77%	+0.63%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	12.37%	11.77%	+0.60%

OCTZ vs. ERNZ - Expense Ratio Comparison

OCTZ has a 0.79% expense ratio, which is higher than ERNZ's 0.75% expense ratio.

Dividends

OCTZ vs. ERNZ - Dividend Comparison

OCTZ's dividend yield for the trailing twelve months is around 3.69%, less than ERNZ's 6.37% yield.

Position	TTM	2025	2024	2023	2022
ERNZ TrueShares Active Yield ETF	6.37%	9.90%	5.51%	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 ERNZ in my portfolio?

OCTZ and ERNZ have a correlation of 0.40, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, OCTZ or ERNZ?

OCTZ has higher volatility (2.47%) compared to ERNZ (0.00%). In terms of maximum drawdown, OCTZ dropped -15.82% vs ERNZ's -14.16%.

Which ETF is better, OCTZ or ERNZ?

On 1-year performance, OCTZ leads with 20.60% vs 2.28% for ERNZ. On fees, ERNZ is cheaper at 0.75% per year. On volatility, ERNZ has been the lower-risk option at 0.00%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, OCTZ or ERNZ?

Over the 1-year period, OCTZ has performed better with a 20.60% return vs 2.28%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, OCTZ or ERNZ?

ERNZ is cheaper with a 0.75% expense ratio, compared with 0.79% for OCTZ.

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

ERNZ has the higher dividend yield at 6.37%, compared with 3.69% for OCTZ.

What is the main difference between OCTZ and ERNZ?

OCTZ is categorized as Defined Outcome, while ERNZ is Large Cap Blend Equities. Their fees differ too: 0.79% for OCTZ and 0.75% for ERNZ.

Which has better risk-adjusted returns?

OCTZ currently has the higher Sharpe Ratio (2.21 vs 0.24), 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.