QBER vs. DIVZ

Last updated Jun 23, 2026

QBER (TrueShares Quarterly Bear Hedge ETF) and DIVZ (Opal Dividend Income ETF) are both exchange-traded funds - QBER is a Options Trading fund actively managed by TrueShares, while DIVZ is a Large Cap Value Equities fund actively managed by TrueShares. Both are actively managed. Over the past year, QBER returned -0.39% vs 11.58% for DIVZ. At a correlation of -0.26, they often move in opposite directions. QBER charges 0.79%/yr vs 0.65%/yr for DIVZ.

Performance

QBER vs. DIVZ - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in TrueShares Quarterly Bear Hedge ETF (QBER) and Opal Dividend Income ETF (DIVZ). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, QBER achieves a -0.50% return, which is significantly lower than DIVZ's 3.70% return.

QBER

• 1D: 0.34%
• 1M: 0.25%
• YTD: -0.50%
• 6M: 0.34%
• 1Y: -0.39%
• 3Y*: —
• 5Y*: —
• 10Y*: —

DIVZ

• 1D: 0.13%
• 1M: -2.53%
• YTD: 3.70%
• 6M: 3.95%
• 1Y: 11.58%
• 3Y*: 15.08%
• 5Y*: 9.27%
• 10Y*: —

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

QBER vs. DIVZ - Yearly Performance Comparison

	2026 (YTD)	2025	2024
QBER TrueShares Quarterly Bear Hedge ETF	-0.50%	0.25%	0.04%
DIVZ Opal Dividend Income ETF	3.70%	16.72%	7.75%

Correlation

The correlation between QBER and DIVZ is -0.14, 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 (1Y) Calculated over the trailing 1-year period	-0.14
Correlation (All Time) Calculated using the full available price history since Jul 1, 2024	-0.26

The correlation between QBER and DIVZ shifts across timeframes, from -0.26 (all time) to -0.14 (1 year), reflecting how their relationship changes across market environments.

Return for Risk

QBER vs. DIVZ — Risk / Return Rank

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

QBER

QBER Risk / Return Rank: 7
QBER Sharpe Ratio Rank: 8
QBER Sortino Ratio Rank: 7
QBER Omega Ratio Rank: 7
QBER Calmar Ratio Rank: 7
QBER Martin Ratio Rank: 7

DIVZ

DIVZ Risk / Return Rank: 35
DIVZ Sharpe Ratio Rank: 35
DIVZ Sortino Ratio Rank: 35
DIVZ Omega Ratio Rank: 32
DIVZ Calmar Ratio Rank: 41
DIVZ Martin Ratio Rank: 33

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.

QBER vs. DIVZ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for TrueShares Quarterly Bear Hedge ETF (QBER) 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.

	QBER	DIVZ	Difference
Sharpe ratio: Return per unit of total volatility	-0.11	1.23	-1.34
Sortino ratio: Return per unit of downside risk	-0.13	1.79	-1.92
Omega ratio: Gain probability vs. loss probability	0.99	1.21	-0.23
Calmar ratio: Return relative to maximum drawdown	-0.17	1.99	-2.16
Martin ratio: Return relative to average drawdown	-0.37	4.75	-5.12

QBER vs. DIVZ - Sharpe Ratio Comparison

The current QBER Sharpe Ratio is -0.11, which is lower than the DIVZ Sharpe Ratio of 1.23. The chart below compares the historical Sharpe Ratios of QBER and DIVZ, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

QBER vs. DIVZ - Drawdown Comparison

The maximum QBER drawdown since its inception was -5.72%, smaller than the maximum DIVZ drawdown of -15.42%. Use the drawdown chart below to compare losses from any high point for QBER and DIVZ.

Drawdown Indicators

	QBER	DIVZ	Difference
Max Drawdown Largest peak-to-trough decline	-5.72%	-15.42%	+9.70%
Max Drawdown (1Y) Largest decline over 1 year	-2.35%	-5.83%	+3.48%
Max Drawdown (3Y) Largest decline over 3 years	—	-9.52%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-15.42%	—
Current Drawdown Current decline from peak	-5.25%	-3.95%	-1.30%
Average Drawdown Average peak-to-trough decline	-4.73%	-3.48%	-1.25%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.05%	2.45%	-1.40%

Volatility

QBER vs. DIVZ - Volatility Comparison

The current volatility for TrueShares Quarterly Bear Hedge ETF (QBER) is 1.03%, while Opal Dividend Income ETF (DIVZ) has a volatility of 3.32%. This indicates that QBER experiences smaller price fluctuations and is considered to be less risky than DIVZ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	QBER	DIVZ	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.03%	3.32%	-2.29%
Volatility (6M) Calculated over the trailing 6-month period	2.90%	7.16%	-4.26%
Volatility (1Y) Calculated over the trailing 1-year period	3.69%	9.44%	-5.75%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	6.34%	12.62%	-6.28%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	6.34%	12.56%	-6.22%

QBER vs. DIVZ - Expense Ratio Comparison

QBER has a 0.79% expense ratio, which is higher than DIVZ's 0.65% expense ratio.

Dividends

QBER vs. DIVZ - Dividend Comparison

QBER's dividend yield for the trailing twelve months is around 3.28%, more than DIVZ's 2.58% yield.

Position	TTM	2025	2024	2023	2022	2021
DIVZ Opal Dividend Income ETF	2.58%	2.60%	2.63%	3.66%	3.23%	3.83%
QBER TrueShares Quarterly Bear Hedge ETF	3.28%	3.26%	1.35%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both QBER and DIVZ in my portfolio?

QBER and DIVZ have a correlation of -0.14, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, QBER or DIVZ?

DIVZ has higher volatility (3.32%) compared to QBER (1.03%). In terms of maximum drawdown, QBER dropped -5.72% vs DIVZ's -15.42%.

Which ETF is better, QBER or DIVZ?

On 1-year performance, DIVZ leads with 11.58% vs -0.39% for QBER. On fees, DIVZ is cheaper at 0.65% per year. On volatility, QBER has been the lower-risk option at 1.03%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, QBER or DIVZ?

Over the 1-year period, DIVZ has performed better with a 11.58% return vs -0.39%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, QBER or DIVZ?

DIVZ is cheaper with a 0.65% expense ratio, compared with 0.79% for QBER.

Which ETF pays a higher dividend yield, QBER or DIVZ?

QBER has the higher dividend yield at 3.28%, compared with 2.58% for DIVZ.

What is the main difference between QBER and DIVZ?

QBER is categorized as Options Trading, while DIVZ is Large Cap Value Equities. Their fees differ too: 0.79% for QBER and 0.65% for DIVZ.

Which has better risk-adjusted returns?

DIVZ currently has the higher Sharpe Ratio (1.23 vs -0.11), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.