PAYH vs. DIVZ
PAYH (TrueShares S&P Autocallable High Income ETF) and DIVZ (Opal Dividend Income ETF) are both exchange-traded funds - PAYH is a Derivative Income fund actively managed by TrueShares, while DIVZ is a Large Cap Value Equities fund actively managed by TrueShares. Both are actively managed. At a correlation of -0.16, they often move in opposite directions. PAYH charges 0.74%/yr vs 0.65%/yr for DIVZ.
Performance
PAYH vs. DIVZ - Performance Comparison
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Returns By Period
In the year-to-date period, PAYH achieves a 9.58% return, which is significantly higher than DIVZ's 7.55% return.
PAYH
- 1D
- -0.15%
- 1M
- 1.80%
- 6M
- 7.88%
- YTD
- 9.58%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
DIVZ
- 1D
- 1.67%
- 1M
- 1.88%
- 6M
- 5.27%
- YTD
- 7.55%
- 1Y
- 12.27%
- 3Y*
- 15.38%
- 5Y*
- 10.05%
- 10Y*
- —
PAYH vs. DIVZ - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
PAYH TrueShares S&P Autocallable High Income ETF | 9.58% | -0.73% |
DIVZ Opal Dividend Income ETF | 7.55% | -0.60% |
Correlation
The correlation between PAYH and DIVZ is -0.16, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.
| Correlation | |
|---|---|
Correlation (All Time) Calculated using the full available price history since Dec 30, 2025 | -0.16 |
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Return for Risk
PAYH vs. DIVZ — Risk / Return Rank
PAYH
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
DIVZ
PAYH vs. DIVZ - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for TrueShares S&P Autocallable High Income ETF (PAYH) 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.
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 | DIVZ | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | — | 1.22 | — |
| Calmar ratioReturn relative to maximum drawdown | — | 2.11 | — |
| Martin ratioReturn relative to average drawdown | — | 4.90 | — |
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Drawdowns
PAYH vs. DIVZ - Drawdown Comparison
The maximum PAYH drawdown since its inception was -16.33%, which is greater than DIVZ's maximum drawdown of -15.42%. Use the drawdown chart below to compare losses from any high point for PAYH and DIVZ.
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Drawdown Indicators
| PAYH | DIVZ | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -16.33% | -15.42% | -0.91% |
Max Drawdown (1Y)Largest decline over 1 year | — | -5.83% | — |
Max Drawdown (3Y)Largest decline over 3 years | — | -9.52% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -15.42% | — |
Current DrawdownCurrent decline from peak | -0.59% | -0.38% | -0.21% |
Average DrawdownAverage peak-to-trough decline | -2.54% | -3.47% | +0.93% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | — | 2.51% | — |
Volatility
PAYH vs. DIVZ - Volatility Comparison
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Volatility by Period
| PAYH | DIVZ | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | — | 3.99% | — |
Volatility (6M)Calculated over the trailing 6-month period | — | 7.71% | — |
Volatility (1Y)Calculated over the trailing 1-year period | 21.79% | 9.82% | +11.97% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 21.79% | 12.67% | +9.12% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 21.79% | 12.57% | +9.22% |
PAYH vs. DIVZ - Expense Ratio Comparison
PAYH has a 0.74% expense ratio, which is higher than DIVZ's 0.65% expense ratio.
Dividends
PAYH vs. DIVZ - Dividend Comparison
PAYH's dividend yield for the trailing twelve months is around 7.88%, more than DIVZ's 2.51% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|---|
DIVZ Opal Dividend Income ETF | 2.51% | 2.60% | 2.63% | 3.66% | 3.23% | 3.83% |
PAYH TrueShares S&P Autocallable High Income ETF | 7.88% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
PAYH and DIVZ have a correlation of -0.16, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, DIVZ is cheaper at 0.65% per year. The better choice depends on whether you care most about return, fees, risk, or income.
DIVZ is cheaper with a 0.65% expense ratio, compared with 0.74% for PAYH.
PAYH has the higher dividend yield at 7.88%, compared with 2.51% for DIVZ.
PAYH is categorized as Derivative Income, while DIVZ is Large Cap Value Equities. Their fees differ too: 0.74% for PAYH and 0.65% for DIVZ.
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