PVEX vs. DECZ

Last updated Jun 4, 2026

PVEX (TrueShares ConVequity ETF) and DECZ (TrueShares Structured Outcome (December) ETF) are both exchange-traded funds - PVEX is a Large Cap Blend Equities fund managed by TrueShares, while DECZ is a Defined Outcome fund tracking the S&P 500. Their correlation of 0.91 suggests significant overlap in exposure. PVEX charges 0.82%/yr vs 0.79%/yr for DECZ.

Performance

PVEX vs. DECZ - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in TrueShares ConVequity ETF (PVEX) and TrueShares Structured Outcome (December) ETF (DECZ). 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 DECZ's 8.14% return.

PVEX

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

DECZ

• 1D: -0.53%
• 1M: 4.15%
• YTD: 8.14%
• 6M: 8.12%
• 1Y: 20.18%
• 3Y*: 16.28%
• 5Y*: 11.21%
• 10Y*: —

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

PVEX vs. DECZ - Yearly Performance Comparison

	2026 (YTD)	2025
PVEX TrueShares ConVequity ETF	9.50%	13.68%
DECZ TrueShares Structured Outcome (December) ETF	8.14%	8.08%

Correlation

The correlation between PVEX and DECZ is 0.91, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (All Time) Calculated using the full available price history since Jul 1, 2025	0.91

Return for Risk

PVEX vs. DECZ — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

DECZ

DECZ Risk / Return Rank: 62
DECZ Sharpe Ratio Rank: 64
DECZ Sortino Ratio Rank: 65
DECZ Omega Ratio Rank: 64
DECZ Calmar Ratio Rank: 55
DECZ Martin Ratio Rank: 63

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.

PVEX vs. DECZ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for TrueShares ConVequity ETF (PVEX) and TrueShares Structured Outcome (December) ETF (DECZ). 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	DECZ	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	2.12	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.90	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.78	1.00	+0.77

Drawdowns

PVEX vs. DECZ - Drawdown Comparison

The maximum PVEX drawdown since its inception was -7.63%, smaller than the maximum DECZ drawdown of -16.57%. Use the drawdown chart below to compare losses from any high point for PVEX and DECZ.

Drawdown Indicators

	PVEX	DECZ	Difference
Max Drawdown Largest peak-to-trough decline	-7.63%	-16.57%	+8.94%
Max Drawdown (1Y) Largest decline over 1 year	—	-7.53%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-14.24%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-16.57%	—
Current Drawdown Current decline from peak	-0.98%	-0.53%	-0.45%
Average Drawdown Average peak-to-trough decline	-1.91%	-3.06%	+1.15%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	1.78%	—

Volatility

Volatility by Period

	PVEX	DECZ	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	2.47%	—
Volatility (6M) Calculated over the trailing 6-month period	—	7.20%	—
Volatility (1Y) Calculated over the trailing 1-year period	15.08%	9.57%	+5.51%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.08%	12.59%	+2.49%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.08%	12.39%	+2.69%

PVEX vs. DECZ - Expense Ratio Comparison

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

Dividends

PVEX vs. DECZ - Dividend Comparison

PVEX's dividend yield for the trailing twelve months is around 0.17%, less than DECZ's 3.03% yield.

Position	TTM	2025	2024	2023	2022	2021
DECZ TrueShares Structured Outcome (December) ETF	3.03%	3.28%	2.55%	1.23%	1.44%	0.46%
PVEX TrueShares ConVequity ETF	0.17%	0.19%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both PVEX and DECZ in my portfolio?

With a correlation of 0.91, PVEX and DECZ move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which ETF is better, PVEX or DECZ?

On fees, DECZ 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 DECZ?

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

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

DECZ has the higher dividend yield at 3.03%, compared with 0.17% for PVEX.

What is the main difference between PVEX and DECZ?

PVEX is categorized as Large Cap Blend Equities, while DECZ is Defined Outcome. Their fees differ too: 0.82% for PVEX and 0.79% for DECZ.