PAYH vs. AUGZ
PAYH (TrueShares S&P Autocallable High Income ETF) and AUGZ (TrueShares Structured Outcome (August) ETF) are both exchange-traded funds - PAYH is a Derivative Income fund actively managed by TrueShares, while AUGZ is a Defined Outcome fund tracking the S&P 500 Index. PAYH is actively managed, while AUGZ is passively managed. At a 0.37 correlation, their price movements are largely independent. PAYH charges 0.74%/yr vs 0.79%/yr for AUGZ.
Performance
PAYH vs. AUGZ - Performance Comparison
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Returns By Period
In the year-to-date period, PAYH achieves a 5.88% return, which is significantly higher than AUGZ's 5.56% return.
PAYH
- 1D
- -0.91%
- 1M
- -2.97%
- YTD
- 5.88%
- 6M
- —
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
AUGZ
- 1D
- -0.25%
- 1M
- -1.35%
- YTD
- 5.56%
- 6M
- 4.57%
- 1Y
- 15.95%
- 3Y*
- 15.02%
- 5Y*
- 10.04%
- 10Y*
- —
PAYH vs. AUGZ - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
PAYH TrueShares S&P Autocallable High Income ETF | 5.88% | -0.73% |
AUGZ TrueShares Structured Outcome (August) ETF | 5.56% | -0.64% |
Correlation
The correlation between PAYH and AUGZ is 0.37, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (All Time) Calculated using the full available price history since Dec 30, 2025 | 0.37 |
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Return for Risk
PAYH vs. AUGZ — Risk / Return Rank
PAYH
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
AUGZ
PAYH vs. AUGZ - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for TrueShares S&P Autocallable High Income ETF (PAYH) and TrueShares Structured Outcome (August) ETF (AUGZ). 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.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| PAYH | AUGZ | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | — | 1.29 | — |
| Calmar ratioReturn relative to maximum drawdown | — | 2.21 | — |
| Martin ratioReturn relative to average drawdown | — | 9.09 | — |
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Drawdowns
PAYH vs. AUGZ - Drawdown Comparison
The maximum PAYH drawdown since its inception was -16.33%, roughly equal to the maximum AUGZ drawdown of -15.67%. Use the drawdown chart below to compare losses from any high point for PAYH and AUGZ.
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Drawdown Indicators
| PAYH | AUGZ | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -16.33% | -15.67% | -0.66% |
Max Drawdown (1Y)Largest decline over 1 year | — | -7.23% | — |
Max Drawdown (3Y)Largest decline over 3 years | — | -14.52% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -15.67% | — |
Current DrawdownCurrent decline from peak | -3.55% | -3.04% | -0.51% |
Average DrawdownAverage peak-to-trough decline | -2.71% | -3.10% | +0.39% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | — | 1.76% | — |
Volatility
PAYH vs. AUGZ - Volatility Comparison
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Volatility by Period
| PAYH | AUGZ | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | — | 4.01% | — |
Volatility (6M)Calculated over the trailing 6-month period | — | 8.02% | — |
Volatility (1Y)Calculated over the trailing 1-year period | 22.78% | 10.06% | +12.72% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 22.78% | 12.06% | +10.72% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 22.78% | 12.14% | +10.64% |
PAYH vs. AUGZ - Expense Ratio Comparison
PAYH has a 0.74% expense ratio, which is lower than AUGZ's 0.79% expense ratio.
Dividends
PAYH vs. AUGZ - Dividend Comparison
PAYH's dividend yield for the trailing twelve months is around 6.63%, more than AUGZ's 3.44% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
AUGZ TrueShares Structured Outcome (August) ETF | 3.44% | 3.63% | 4.08% | 3.42% | 0.41% |
PAYH TrueShares S&P Autocallable High Income ETF | 6.63% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
PAYH and AUGZ have a correlation of 0.37, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, PAYH is cheaper at 0.74% per year. The better choice depends on whether you care most about return, fees, risk, or income.
PAYH is cheaper with a 0.74% expense ratio, compared with 0.79% for AUGZ.
PAYH has the higher dividend yield at 6.63%, compared with 3.44% for AUGZ.
PAYH is categorized as Derivative Income, while AUGZ is Defined Outcome. Their fees differ too: 0.74% for PAYH and 0.79% for AUGZ.
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