PAYH vs. OCTZ
PAYH (TrueShares S&P Autocallable High Income ETF) and OCTZ (TrueShares Structured Outcome (October) ETF) are both exchange-traded funds - PAYH is a Derivative Income fund actively managed by TrueShares, while OCTZ is a Defined Outcome fund actively managed by TrueShares. Both are actively managed. At a 0.38 correlation, their price movements are largely independent. PAYH charges 0.74%/yr vs 0.79%/yr for OCTZ.
Performance
PAYH vs. OCTZ - Performance Comparison
Loading charts...
Returns By Period
The year-to-date returns for both stocks are quite close, with PAYH having a 5.88% return and OCTZ slightly lower at 5.79%.
PAYH
- 1D
- -0.91%
- 1M
- -2.97%
- YTD
- 5.88%
- 6M
- —
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
OCTZ
- 1D
- -0.26%
- 1M
- -1.32%
- YTD
- 5.79%
- 6M
- 4.87%
- 1Y
- 16.14%
- 3Y*
- 15.04%
- 5Y*
- 10.33%
- 10Y*
- —
PAYH vs. OCTZ - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
PAYH TrueShares S&P Autocallable High Income ETF | 5.88% | -0.73% |
OCTZ TrueShares Structured Outcome (October) ETF | 5.79% | -0.60% |
Correlation
The correlation between PAYH and OCTZ is 0.38, 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 | 0.38 |
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
PAYH vs. OCTZ — Risk / Return Rank
PAYH
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
OCTZ
PAYH vs. OCTZ - 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 (October) ETF (OCTZ). 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 | OCTZ | 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 | — | 2.22 | — |
| Martin ratioReturn relative to average drawdown | — | 9.05 | — |
Loading charts...
Drawdowns
PAYH vs. OCTZ - Drawdown Comparison
The maximum PAYH drawdown since its inception was -16.33%, roughly equal to the maximum OCTZ drawdown of -15.82%. Use the drawdown chart below to compare losses from any high point for PAYH and OCTZ.
Loading charts...
Drawdown Indicators
| PAYH | OCTZ | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -16.33% | -15.82% | -0.51% |
Max Drawdown (1Y)Largest decline over 1 year | — | -7.31% | — |
Max Drawdown (3Y)Largest decline over 3 years | — | -14.07% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -15.82% | — |
Current DrawdownCurrent decline from peak | -3.55% | -2.73% | -0.82% |
Average DrawdownAverage peak-to-trough decline | -2.71% | -3.14% | +0.43% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | — | 1.79% | — |
Volatility
PAYH vs. OCTZ - Volatility Comparison
Loading charts...
Volatility by Period
| PAYH | OCTZ | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | — | 3.95% | — |
Volatility (6M)Calculated over the trailing 6-month period | — | 8.03% | — |
Volatility (1Y)Calculated over the trailing 1-year period | 22.78% | 9.97% | +12.81% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 22.78% | 12.49% | +10.29% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 22.78% | 12.41% | +10.37% |
PAYH vs. OCTZ - Expense Ratio Comparison
PAYH has a 0.74% expense ratio, which is lower than OCTZ's 0.79% expense ratio.
Dividends
PAYH vs. OCTZ - Dividend Comparison
PAYH's dividend yield for the trailing twelve months is around 6.63%, more than OCTZ's 3.77% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
OCTZ TrueShares Structured Outcome (October) ETF | 3.77% | 3.99% | 1.26% | 3.28% | 0.67% |
PAYH TrueShares S&P Autocallable High Income ETF | 6.63% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
PAYH and OCTZ have a correlation of 0.38, 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 OCTZ.
PAYH has the higher dividend yield at 6.63%, compared with 3.77% for OCTZ.
PAYH is categorized as Derivative Income, while OCTZ is Defined Outcome. Their fees differ too: 0.74% for PAYH and 0.79% for OCTZ.
Find the right allocation for PAYH and OCTZ
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer