QBUL vs. AUGZ

Last updated Jun 24, 2026

QBUL (TrueShares Quarterly Bull Hedge ETF) and AUGZ (TrueShares Structured Outcome (August) ETF) are both exchange-traded funds - QBUL is a Options Trading fund actively managed by TrueShares, while AUGZ is a Defined Outcome fund tracking the S&P 500 Index. QBUL is actively managed, while AUGZ is passively managed. Over the past year, QBUL returned 4.24% vs 17.31% for AUGZ. A 0.70 correlation means they provide meaningful diversification when combined. Both charge a 0.79% expense ratio.

Performance

QBUL vs. AUGZ - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in TrueShares Quarterly Bull Hedge ETF (QBUL) and TrueShares Structured Outcome (August) ETF (AUGZ). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, QBUL achieves a 1.20% return, which is significantly lower than AUGZ's 5.82% return.

QBUL

• 1D: -0.33%
• 1M: -0.87%
• YTD: 1.20%
• 6M: 1.37%
• 1Y: 4.24%
• 3Y*: —
• 5Y*: —
• 10Y*: —

AUGZ

• 1D: -1.18%
• 1M: -1.11%
• YTD: 5.82%
• 6M: 5.18%
• 1Y: 17.31%
• 3Y*: 15.12%
• 5Y*: 10.16%
• 10Y*: —

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

QBUL vs. AUGZ - Yearly Performance Comparison

	2026 (YTD)	2025	2024
QBUL TrueShares Quarterly Bull Hedge ETF	1.20%	4.87%	0.58%
AUGZ TrueShares Structured Outcome (August) ETF	5.82%	13.49%	5.70%

Correlation

The correlation between QBUL and AUGZ is 0.79, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.79
Correlation (All Time) Calculated using the full available price history since Jul 1, 2024	0.70

The correlation between QBUL and AUGZ has been stable across timeframes, ranging from 0.70 to 0.79 - a consistent structural relationship.

Return for Risk

QBUL vs. AUGZ — Risk / Return Rank

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

QBUL

QBUL Risk / Return Rank: 31
QBUL Sharpe Ratio Rank: 32
QBUL Sortino Ratio Rank: 30
QBUL Omega Ratio Rank: 32
QBUL Calmar Ratio Rank: 37
QBUL Martin Ratio Rank: 27

AUGZ

AUGZ Risk / Return Rank: 54
AUGZ Sharpe Ratio Rank: 54
AUGZ Sortino Ratio Rank: 52
AUGZ Omega Ratio Rank: 53
AUGZ Calmar Ratio Rank: 52
AUGZ Martin Ratio Rank: 60

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.

QBUL vs. AUGZ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for TrueShares Quarterly Bull Hedge ETF (QBUL) and TrueShares Structured Outcome (August) ETF (AUGZ). 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.

	QBUL	AUGZ	Difference
Sharpe ratio: Return per unit of total volatility	1.09	1.73	-0.64
Sortino ratio: Return per unit of downside risk	1.53	2.38	-0.85
Omega ratio: Gain probability vs. loss probability	1.20	1.31	-0.11
Calmar ratio: Return relative to maximum drawdown	1.74	2.40	-0.67
Martin ratio: Return relative to average drawdown	3.33	9.92	-6.60

QBUL vs. AUGZ - Sharpe Ratio Comparison

The current QBUL Sharpe Ratio is 1.09, which is lower than the AUGZ Sharpe Ratio of 1.73. The chart below compares the historical Sharpe Ratios of QBUL and AUGZ, 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

QBUL vs. AUGZ - Drawdown Comparison

The maximum QBUL drawdown since its inception was -2.45%, smaller than the maximum AUGZ drawdown of -15.67%. Use the drawdown chart below to compare losses from any high point for QBUL and AUGZ.

Drawdown Indicators

	QBUL	AUGZ	Difference
Max Drawdown Largest peak-to-trough decline	-2.45%	-15.67%	+13.22%
Max Drawdown (1Y) Largest decline over 1 year	-2.45%	-7.23%	+4.78%
Max Drawdown (3Y) Largest decline over 3 years	—	-14.52%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-15.67%	—
Current Drawdown Current decline from peak	-1.56%	-2.81%	+1.25%
Average Drawdown Average peak-to-trough decline	-0.98%	-3.10%	+2.12%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.28%	1.75%	-0.47%

Volatility

QBUL vs. AUGZ - Volatility Comparison

The current volatility for TrueShares Quarterly Bull Hedge ETF (QBUL) is 1.83%, while TrueShares Structured Outcome (August) ETF (AUGZ) has a volatility of 4.02%. This indicates that QBUL experiences smaller price fluctuations and is considered to be less risky than AUGZ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	QBUL	AUGZ	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.83%	4.02%	-2.19%
Volatility (6M) Calculated over the trailing 6-month period	2.81%	8.03%	-5.22%
Volatility (1Y) Calculated over the trailing 1-year period	3.90%	10.08%	-6.18%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	3.92%	12.06%	-8.14%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	3.92%	12.14%	-8.22%

QBUL vs. AUGZ - Expense Ratio Comparison

Both QBUL and AUGZ have an expense ratio of 0.79%.

Dividends

QBUL vs. AUGZ - Dividend Comparison

QBUL's dividend yield for the trailing twelve months is around 8.84%, more than AUGZ's 3.43% yield.

Position	TTM	2025	2024	2023	2022
AUGZ TrueShares Structured Outcome (August) ETF	3.43%	3.63%	4.08%	3.42%	0.41%
QBUL TrueShares Quarterly Bull Hedge ETF	8.84%	8.94%	1.82%	0.00%	0.00%

Frequently Asked Questions

Can I hold both QBUL and AUGZ in my portfolio?

QBUL and AUGZ have a correlation of 0.79, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, QBUL or AUGZ?

AUGZ has higher volatility (4.02%) compared to QBUL (1.83%). In terms of maximum drawdown, QBUL dropped -2.45% vs AUGZ's -15.67%.

Which ETF is better, QBUL or AUGZ?

On 1-year performance, AUGZ leads with 17.31% vs 4.24% for QBUL. Both ETFs have the same 0.79% expense ratio. On volatility, QBUL has been the lower-risk option at 1.83%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, QBUL or AUGZ?

Over the 1-year period, AUGZ has performed better with a 17.31% return vs 4.24%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, QBUL or AUGZ?

QBUL and AUGZ have the same expense ratio: 0.79% per year.

Which ETF pays a higher dividend yield, QBUL or AUGZ?

QBUL has the higher dividend yield at 8.84%, compared with 3.43% for AUGZ.

What is the main difference between QBUL and AUGZ?

QBUL is categorized as Options Trading, while AUGZ is Defined Outcome.

Which has better risk-adjusted returns?

AUGZ currently has the higher Sharpe Ratio (1.73 vs 1.09), 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.