PVEX vs. DDTL

Last updated Jun 4, 2026

PVEX (TrueShares ConVequity ETF) and DDTL (Innovator Equity Dual Directional 10 Buffer ETF - July) are both exchange-traded funds - PVEX is a Large Cap Blend Equities fund managed by TrueShares, while DDTL is a Defined Outcome fund managed by Innovator. A 0.78 correlation means they provide meaningful diversification when combined. PVEX charges 0.82%/yr vs 0.79%/yr for DDTL.

Performance

PVEX vs. DDTL - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in TrueShares ConVequity ETF (PVEX) and Innovator Equity Dual Directional 10 Buffer ETF - July (DDTL). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, PVEX achieves a 9.50% return, which is significantly higher than DDTL's 4.57% return.

PVEX

• 1D: -0.98%
• 1M: 5.17%
• YTD: 9.50%
• 6M: 8.70%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

DDTL

• 1D: 0.02%
• 1M: 1.32%
• YTD: 4.57%
• 6M: 5.34%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

PVEX vs. DDTL - Yearly Performance Comparison

	2026 (YTD)	2025
PVEX TrueShares ConVequity ETF	9.50%	13.73%
DDTL Innovator Equity Dual Directional 10 Buffer ETF - July	4.57%	6.48%

Correlation

The correlation between PVEX and DDTL is 0.78, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (All Time) Calculated using the full available price history since Jul 2, 2025	0.78

Return for Risk

PVEX vs. DDTL - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for TrueShares ConVequity ETF (PVEX) and Innovator Equity Dual Directional 10 Buffer ETF - July (DDTL). 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.

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

Sharpe Ratios by Period

	PVEX	DDTL	Difference
Sharpe Ratio (All Time) Calculated using the full available price history	1.78	2.27	-0.50

Drawdowns

PVEX vs. DDTL - Drawdown Comparison

The maximum PVEX drawdown since its inception was -7.63%, which is greater than DDTL's maximum drawdown of -3.78%. Use the drawdown chart below to compare losses from any high point for PVEX and DDTL.

Drawdown Indicators

	PVEX	DDTL	Difference
Max Drawdown Largest peak-to-trough decline	-7.63%	-3.78%	-3.85%
Current Drawdown Current decline from peak	-0.98%	0.00%	-0.98%
Average Drawdown Average peak-to-trough decline	-1.91%	-0.40%	-1.51%

Volatility

Volatility by Period

	PVEX	DDTL	Difference
Volatility (1Y) Calculated over the trailing 1-year period	15.08%	5.46%	+9.62%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.08%	5.46%	+9.62%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.08%	5.46%	+9.62%

PVEX vs. DDTL - Expense Ratio Comparison

PVEX has a 0.82% expense ratio, which is higher than DDTL's 0.79% expense ratio.

Dividends

PVEX vs. DDTL - Dividend Comparison

PVEX's dividend yield for the trailing twelve months is around 0.17%, while DDTL has not paid dividends to shareholders.

Position	TTM	2025
DDTL Innovator Equity Dual Directional 10 Buffer ETF - July	0.00%	0.00%
PVEX TrueShares ConVequity ETF	0.17%	0.19%

Frequently Asked Questions

Can I hold both PVEX and DDTL in my portfolio?

PVEX and DDTL have a correlation of 0.78, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, PVEX or DDTL?

On fees, DDTL is cheaper at 0.79% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, PVEX or DDTL?

DDTL is cheaper with a 0.79% expense ratio, compared with 0.82% for PVEX.

Which ETF pays a higher dividend yield, PVEX or DDTL?

PVEX has the higher dividend yield at 0.17%, compared with 0.00% for DDTL.

What is the main difference between PVEX and DDTL?

PVEX is categorized as Large Cap Blend Equities, while DDTL is Defined Outcome. They also come from different issuers: TrueShares and Innovator. Their fees differ too: 0.82% for PVEX and 0.79% for DDTL.