ONEZ vs. PMJA

Last updated Jun 4, 2026

ONEZ (TrueShares Seasonality Laddered Buffered ETF) and PMJA (PGIM S&P 500 Max Buffer ETF - January) are both Defined Outcome funds. Both are actively managed. Over the past year, ONEZ returned 17.56% vs 7.69% for PMJA. Their correlation of 0.83 suggests significant overlap in exposure. ONEZ charges 0.98%/yr vs 0.50%/yr for PMJA.

Performance

ONEZ vs. PMJA - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in TrueShares Seasonality Laddered Buffered ETF (ONEZ) and PGIM S&P 500 Max Buffer ETF - January (PMJA). 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 PMJA's 2.35% return.

ONEZ

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

PMJA

• 1D: -0.04%
• 1M: 0.79%
• YTD: 2.35%
• 6M: 2.84%
• 1Y: 7.69%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

ONEZ vs. PMJA - Yearly Performance Comparison

	2026 (YTD)	2025
ONEZ TrueShares Seasonality Laddered Buffered ETF	7.27%	8.99%
PMJA PGIM S&P 500 Max Buffer ETF - January	2.35%	6.30%

Correlation

The correlation between ONEZ and PMJA is 0.83, 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	0.83
Correlation (All Time) Calculated using the full available price history since Jan 28, 2025	0.83

The correlation between ONEZ and PMJA has been stable across timeframes, ranging from 0.83 to 0.83 - a consistent structural relationship.

Return for Risk

ONEZ vs. PMJA — 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

PMJA

PMJA Risk / Return Rank: 94
PMJA Sharpe Ratio Rank: 95
PMJA Sortino Ratio Rank: 97
PMJA Omega Ratio Rank: 97
PMJA Calmar Ratio Rank: 89
PMJA Martin Ratio Rank: 94

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. PMJA - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for TrueShares Seasonality Laddered Buffered ETF (ONEZ) and PGIM S&P 500 Max Buffer ETF - January (PMJA). 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	PMJA	Difference
Sharpe ratio: Return per unit of total volatility	1.91	3.80	-1.89
Sortino ratio: Return per unit of downside risk	2.76	6.16	-3.40
Omega ratio: Gain probability vs. loss probability	1.34	1.88	-0.54
Calmar ratio: Return relative to maximum drawdown	2.67	5.32	-2.64
Martin ratio: Return relative to average drawdown	11.14	26.64	-15.49
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. PMJA - Sharpe Ratio Comparison

The current ONEZ Sharpe Ratio is 1.91, which is lower than the PMJA Sharpe Ratio of 3.80. The chart below compares the historical Sharpe Ratios of ONEZ and PMJA, 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	PMJA	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.91	3.80	-1.89
Sharpe Ratio (All Time) Calculated using the full available price history	1.04	2.32	-1.28

Drawdowns

ONEZ vs. PMJA - Drawdown Comparison

The maximum ONEZ drawdown since its inception was -13.24%, which is greater than PMJA's maximum drawdown of -2.98%. Use the drawdown chart below to compare losses from any high point for ONEZ and PMJA.

Drawdown Indicators

	ONEZ	PMJA	Difference
Max Drawdown Largest peak-to-trough decline	-13.24%	-2.98%	-10.26%
Max Drawdown (1Y) Largest decline over 1 year	-6.60%	-1.45%	-5.15%
Current Drawdown Current decline from peak	-0.61%	-0.04%	-0.57%
Average Drawdown Average peak-to-trough decline	-2.07%	-0.34%	-1.73%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.58%	0.29%	+1.29%

Volatility

ONEZ vs. PMJA - Volatility Comparison

TrueShares Seasonality Laddered Buffered ETF (ONEZ) has a higher volatility of 2.54% compared to PGIM S&P 500 Max Buffer ETF - January (PMJA) at 0.33%. This indicates that ONEZ's price experiences larger fluctuations and is considered to be riskier than PMJA based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	ONEZ	PMJA	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.54%	0.33%	+2.21%
Volatility (6M) Calculated over the trailing 6-month period	7.03%	1.49%	+5.54%
Volatility (1Y) Calculated over the trailing 1-year period	9.23%	2.04%	+7.19%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	11.88%	2.85%	+9.03%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	11.88%	2.85%	+9.03%

ONEZ vs. PMJA - Expense Ratio Comparison

ONEZ has a 0.98% expense ratio, which is higher than PMJA's 0.50% expense ratio.

Dividends

ONEZ vs. PMJA - Dividend Comparison

ONEZ's dividend yield for the trailing twelve months is around 3.70%, while PMJA has not paid dividends to shareholders.

Position	TTM	2025
ONEZ TrueShares Seasonality Laddered Buffered ETF	3.70%	3.97%
PMJA PGIM S&P 500 Max Buffer ETF - January	0.00%	0.00%

Frequently Asked Questions

Can I hold both ONEZ and PMJA in my portfolio?

ONEZ and PMJA have a correlation of 0.83, 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 PMJA?

ONEZ has higher volatility (2.54%) compared to PMJA (0.33%). In terms of maximum drawdown, ONEZ dropped -13.24% vs PMJA's -2.98%.

Which ETF is better, ONEZ or PMJA?

On 1-year performance, ONEZ leads with 17.56% vs 7.69% for PMJA. On fees, PMJA is cheaper at 0.50% per year. On volatility, PMJA has been the lower-risk option at 0.33%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, ONEZ or PMJA?

Over the 1-year period, ONEZ has performed better with a 17.56% return vs 7.69%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, ONEZ or PMJA?

PMJA is cheaper with a 0.50% expense ratio, compared with 0.98% for ONEZ.

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

ONEZ has the higher dividend yield at 3.70%, compared with 0.00% for PMJA.

What is the main difference between ONEZ and PMJA?

They also come from different issuers: TrueShares and PGIM. Their fees differ too: 0.98% for ONEZ and 0.50% for PMJA.

Which has better risk-adjusted returns?

PMJA currently has the higher Sharpe Ratio (3.80 vs 1.91), 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.