PVEX vs. RNWZ

Last updated Jun 4, 2026

PVEX (TrueShares ConVequity ETF) and RNWZ (TrueShares Eagle Global Renewable Energy Income ETF) are both exchange-traded funds - PVEX is a Large Cap Blend Equities fund managed by TrueShares, while RNWZ is a Energy Equities fund actively managed by TrueShares. At a 0.35 correlation, their price movements are largely independent. PVEX charges 0.82%/yr vs 0.75%/yr for RNWZ.

Performance

PVEX vs. RNWZ - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in TrueShares ConVequity ETF (PVEX) and TrueShares Eagle Global Renewable Energy Income ETF (RNWZ). 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 lower than RNWZ's 16.28% return.

PVEX

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

RNWZ

• 1D: 0.20%
• 1M: -2.61%
• YTD: 16.28%
• 6M: 16.86%
• 1Y: 38.19%
• 3Y*: 12.63%
• 5Y*: —
• 10Y*: —

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

PVEX vs. RNWZ - Yearly Performance Comparison

	2026 (YTD)	2025
PVEX TrueShares ConVequity ETF	9.50%	13.68%
RNWZ TrueShares Eagle Global Renewable Energy Income ETF	16.28%	14.52%

Correlation

The correlation between PVEX and RNWZ is 0.35, 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 Jul 1, 2025	0.35

Return for Risk

PVEX vs. RNWZ — Risk / Return Rank

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

RNWZ

RNWZ Risk / Return Rank: 80
RNWZ Sharpe Ratio Rank: 78
RNWZ Sortino Ratio Rank: 75
RNWZ Omega Ratio Rank: 76
RNWZ Calmar Ratio Rank: 92
RNWZ Martin Ratio Rank: 80

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. RNWZ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for TrueShares ConVequity ETF (PVEX) and TrueShares Eagle Global Renewable Energy Income ETF (RNWZ). 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	RNWZ	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	2.55	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.78	0.61	+1.16

Drawdowns

PVEX vs. RNWZ - Drawdown Comparison

The maximum PVEX drawdown since its inception was -7.63%, smaller than the maximum RNWZ drawdown of -24.90%. Use the drawdown chart below to compare losses from any high point for PVEX and RNWZ.

Drawdown Indicators

	PVEX	RNWZ	Difference
Max Drawdown Largest peak-to-trough decline	-7.63%	-24.90%	+17.27%
Max Drawdown (1Y) Largest decline over 1 year	—	-6.06%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-24.74%	—
Current Drawdown Current decline from peak	-0.98%	-4.46%	+3.48%
Average Drawdown Average peak-to-trough decline	-1.91%	-7.19%	+5.28%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	2.45%	—

Volatility

Volatility by Period

	PVEX	RNWZ	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	5.06%	—
Volatility (6M) Calculated over the trailing 6-month period	—	11.86%	—
Volatility (1Y) Calculated over the trailing 1-year period	15.08%	15.06%	+0.02%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.08%	16.99%	-1.91%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.08%	16.99%	-1.91%

PVEX vs. RNWZ - Expense Ratio Comparison

PVEX has a 0.82% expense ratio, which is higher than RNWZ's 0.75% expense ratio.

Dividends

PVEX vs. RNWZ - Dividend Comparison

PVEX's dividend yield for the trailing twelve months is around 0.17%, less than RNWZ's 1.93% yield.

Position	TTM	2025	2024	2023	2022
PVEX TrueShares ConVequity ETF	0.17%	0.19%	0.00%	0.00%	0.00%
RNWZ TrueShares Eagle Global Renewable Energy Income ETF	1.93%	2.12%	2.36%	3.87%	0.01%

Frequently Asked Questions

Can I hold both PVEX and RNWZ in my portfolio?

PVEX and RNWZ have a correlation of 0.35, 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 RNWZ?

On fees, RNWZ is cheaper at 0.75% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, PVEX or RNWZ?

RNWZ is cheaper with a 0.75% expense ratio, compared with 0.82% for PVEX.

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

RNWZ has the higher dividend yield at 1.93%, compared with 0.17% for PVEX.

What is the main difference between PVEX and RNWZ?

PVEX is categorized as Large Cap Blend Equities, while RNWZ is Energy Equities. Their fees differ too: 0.82% for PVEX and 0.75% for RNWZ.