ONEZ vs. DIVZ

Last updated Jun 4, 2026

ONEZ (TrueShares Seasonality Laddered Buffered ETF) and DIVZ (Opal Dividend Income ETF) are both exchange-traded funds - ONEZ is a Defined Outcome fund actively managed by TrueShares, while DIVZ is a Large Cap Value Equities fund actively managed by TrueShares. Both are actively managed. Over the past year, ONEZ returned 17.56% vs 10.40% for DIVZ. At a 0.41 correlation, their price movements are largely independent. ONEZ charges 0.98%/yr vs 0.65%/yr for DIVZ.

Performance

ONEZ vs. DIVZ - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in TrueShares Seasonality Laddered Buffered ETF (ONEZ) and Opal Dividend Income ETF (DIVZ). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, ONEZ achieves a 7.27% return, which is significantly higher than DIVZ's 3.10% return.

ONEZ

• 1D: -0.47%
• 1M: 3.77%
• YTD: 7.27%
• 6M: 7.15%
• 1Y: 17.56%
• 3Y*: —
• 5Y*: —
• 10Y*: —

DIVZ

• 1D: -0.26%
• 1M: -0.16%
• YTD: 3.10%
• 6M: 3.41%
• 1Y: 10.40%
• 3Y*: 15.03%
• 5Y*: 8.36%
• 10Y*: —

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

ONEZ vs. DIVZ - Yearly Performance Comparison

	2026 (YTD)	2025
ONEZ TrueShares Seasonality Laddered Buffered ETF	7.27%	8.99%
DIVZ Opal Dividend Income ETF	3.10%	11.76%

Correlation

The correlation between ONEZ and DIVZ is 0.28, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.28
Correlation (All Time) Calculated using the full available price history since Jan 28, 2025	0.41

The correlation between ONEZ and DIVZ shifts across timeframes, from 0.28 (1 year) to 0.41 (all time), reflecting how their relationship changes across market environments.

Return for Risk

ONEZ vs. DIVZ — Risk / Return Rank

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

ONEZ

ONEZ Risk / Return Rank: 58
ONEZ Sharpe Ratio Rank: 58
ONEZ Sortino Ratio Rank: 59
ONEZ Omega Ratio Rank: 56
ONEZ Calmar Ratio Rank: 55
ONEZ Martin Ratio Rank: 63

DIVZ

DIVZ Risk / Return Rank: 31
DIVZ Sharpe Ratio Rank: 30
DIVZ Sortino Ratio Rank: 31
DIVZ Omega Ratio Rank: 28
DIVZ Calmar Ratio Rank: 36
DIVZ Martin Ratio Rank: 30

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.

ONEZ vs. DIVZ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for TrueShares Seasonality Laddered Buffered ETF (ONEZ) and Opal Dividend Income ETF (DIVZ). 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.

	ONEZ	DIVZ	Difference
Sharpe ratio: Return per unit of total volatility	1.91	1.13	+0.79
Sortino ratio: Return per unit of downside risk	2.76	1.67	+1.09
Omega ratio: Gain probability vs. loss probability	1.34	1.19	+0.14
Calmar ratio: Return relative to maximum drawdown	2.67	1.79	+0.88
Martin ratio: Return relative to average drawdown	11.14	4.44	+6.71
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

ONEZ vs. DIVZ - Sharpe Ratio Comparison

The current ONEZ Sharpe Ratio is 1.91, which is higher than the DIVZ Sharpe Ratio of 1.13. The chart below compares the historical Sharpe Ratios of ONEZ and DIVZ, 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

	ONEZ	DIVZ	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.91	1.13	+0.79
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.66	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.04	0.89	+0.15

Drawdowns

ONEZ vs. DIVZ - Drawdown Comparison

The maximum ONEZ drawdown since its inception was -13.24%, smaller than the maximum DIVZ drawdown of -15.42%. Use the drawdown chart below to compare losses from any high point for ONEZ and DIVZ.

Drawdown Indicators

	ONEZ	DIVZ	Difference
Max Drawdown Largest peak-to-trough decline	-13.24%	-15.42%	+2.18%
Max Drawdown (1Y) Largest decline over 1 year	-6.60%	-5.83%	-0.77%
Max Drawdown (3Y) Largest decline over 3 years	—	-9.52%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-15.42%	—
Current Drawdown Current decline from peak	-0.61%	-4.50%	+3.89%
Average Drawdown Average peak-to-trough decline	-2.07%	-3.49%	+1.42%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.58%	2.35%	-0.77%

Volatility

ONEZ vs. DIVZ - Volatility Comparison

The current volatility for TrueShares Seasonality Laddered Buffered ETF (ONEZ) is 2.54%, while Opal Dividend Income ETF (DIVZ) has a volatility of 3.33%. This indicates that ONEZ experiences smaller price fluctuations and is considered to be less risky than DIVZ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	ONEZ	DIVZ	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.54%	3.33%	-0.79%
Volatility (6M) Calculated over the trailing 6-month period	7.03%	7.02%	+0.01%
Volatility (1Y) Calculated over the trailing 1-year period	9.23%	9.28%	-0.05%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	11.88%	12.65%	-0.77%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	11.88%	12.57%	-0.69%

ONEZ vs. DIVZ - Expense Ratio Comparison

ONEZ has a 0.98% expense ratio, which is higher than DIVZ's 0.65% expense ratio.

Dividends

ONEZ vs. DIVZ - Dividend Comparison

ONEZ's dividend yield for the trailing twelve months is around 3.70%, more than DIVZ's 2.60% yield.

Position	TTM	2025	2024	2023	2022	2021
DIVZ Opal Dividend Income ETF	2.60%	2.60%	2.63%	3.66%	3.23%	3.83%
ONEZ TrueShares Seasonality Laddered Buffered ETF	3.70%	3.97%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both ONEZ and DIVZ in my portfolio?

ONEZ and DIVZ have a correlation of 0.28, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, ONEZ or DIVZ?

DIVZ has higher volatility (3.33%) compared to ONEZ (2.54%). In terms of maximum drawdown, ONEZ dropped -13.24% vs DIVZ's -15.42%.

Which ETF is better, ONEZ or DIVZ?

On 1-year performance, ONEZ leads with 17.56% vs 10.40% for DIVZ. On fees, DIVZ is cheaper at 0.65% per year. On volatility, ONEZ has been the lower-risk option at 2.54%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, ONEZ or DIVZ?

Over the 1-year period, ONEZ has performed better with a 17.56% return vs 10.40%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, ONEZ or DIVZ?

DIVZ is cheaper with a 0.65% expense ratio, compared with 0.98% for ONEZ.

Which ETF pays a higher dividend yield, ONEZ or DIVZ?

ONEZ has the higher dividend yield at 3.70%, compared with 2.60% for DIVZ.

What is the main difference between ONEZ and DIVZ?

ONEZ is categorized as Defined Outcome, while DIVZ is Large Cap Value Equities. Their fees differ too: 0.98% for ONEZ and 0.65% for DIVZ.

Which has better risk-adjusted returns?

ONEZ currently has the higher Sharpe Ratio (1.91 vs 1.13), 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.