QBUL vs. MRCP

Last updated Jun 3, 2026

QBUL (TrueShares Quarterly Bull Hedge ETF) and MRCP (PGIM US Large-Cap Buffer 12 ETF - March) are both Options Trading funds. Both are actively managed. Over the past year, QBUL returned 6.05% vs 18.77% for MRCP. A 0.63 correlation means they provide meaningful diversification when combined. QBUL charges 0.79%/yr vs 0.50%/yr for MRCP.

Performance

QBUL vs. MRCP - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in TrueShares Quarterly Bull Hedge ETF (QBUL) and PGIM US Large-Cap Buffer 12 ETF - March (MRCP). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, QBUL achieves a 2.81% return, which is significantly lower than MRCP's 7.50% return.

QBUL

• 1D: 0.12%
• 1M: 1.73%
• YTD: 2.81%
• 6M: 2.73%
• 1Y: 6.05%
• 3Y*: —
• 5Y*: —
• 10Y*: —

MRCP

• 1D: 0.05%
• 1M: 2.25%
• YTD: 7.50%
• 6M: 8.66%
• 1Y: 18.77%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

QBUL vs. MRCP - Yearly Performance Comparison

	2026 (YTD)	2025	2024
QBUL TrueShares Quarterly Bull Hedge ETF	2.81%	4.87%	0.58%
MRCP PGIM US Large-Cap Buffer 12 ETF - March	7.50%	14.13%	6.21%

Correlation

The correlation between QBUL and MRCP is 0.70, 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	0.70
Correlation (All Time) Calculated using the full available price history since Jul 2, 2024	0.63

The correlation between QBUL and MRCP has been stable across timeframes, ranging from 0.63 to 0.70 - a consistent structural relationship.

Return for Risk

QBUL vs. MRCP — Risk / Return Rank

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

QBUL

QBUL Risk / Return Rank: 47
QBUL Sharpe Ratio Rank: 49
QBUL Sortino Ratio Rank: 51
QBUL Omega Ratio Rank: 50
QBUL Calmar Ratio Rank: 50
QBUL Martin Ratio Rank: 33

MRCP

MRCP Risk / Return Rank: 88
MRCP Sharpe Ratio Rank: 88
MRCP Sortino Ratio Rank: 92
MRCP Omega Ratio Rank: 92
MRCP Calmar Ratio Rank: 76
MRCP Martin Ratio Rank: 91

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. MRCP - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for TrueShares Quarterly Bull Hedge ETF (QBUL) and PGIM US Large-Cap Buffer 12 ETF - March (MRCP). 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.

	QBUL	MRCP	Difference
Sharpe ratio Return per unit of total volatility	1.72	3.03	-1.30
Sortino ratio Return per unit of downside risk	2.53	4.45	-1.92
Omega ratio Gain probability vs. loss probability	1.32	1.64	-0.32
Calmar ratio Return relative to maximum drawdown	2.53	3.95	-1.41
Martin ratio Return relative to average drawdown	5.02	22.69	-17.67
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

QBUL vs. MRCP - Sharpe Ratio Comparison

The current QBUL Sharpe Ratio is 1.72, which is lower than the MRCP Sharpe Ratio of 3.03. The chart below compares the historical Sharpe Ratios of QBUL and MRCP, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	QBUL	MRCP	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.72	3.03	-1.30
Sharpe Ratio (All Time) Calculated using the full available price history	1.15	1.62	-0.47

Drawdowns

QBUL vs. MRCP - Drawdown Comparison

The maximum QBUL drawdown since its inception was -2.45%, smaller than the maximum MRCP drawdown of -10.73%. Use the drawdown chart below to compare losses from any high point for QBUL and MRCP.

Drawdown Indicators

	QBUL	MRCP	Difference
Max Drawdown Largest peak-to-trough decline	-2.45%	-10.73%	+8.28%
Max Drawdown (1Y) Largest decline over 1 year	-2.45%	-4.81%	+2.36%
Current Drawdown Current decline from peak	0.00%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	-0.98%	-0.77%	-0.21%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.24%	0.84%	+0.40%

Volatility

QBUL vs. MRCP - Volatility Comparison

The current volatility for TrueShares Quarterly Bull Hedge ETF (QBUL) is 1.26%, while PGIM US Large-Cap Buffer 12 ETF - March (MRCP) has a volatility of 1.36%. This indicates that QBUL experiences smaller price fluctuations and is considered to be less risky than MRCP based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	QBUL	MRCP	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.26%	1.36%	-0.10%
Volatility (6M) Calculated over the trailing 6-month period	2.23%	4.95%	-2.72%
Volatility (1Y) Calculated over the trailing 1-year period	3.53%	6.23%	-2.70%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	3.78%	9.28%	-5.50%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	3.78%	9.28%	-5.50%

QBUL vs. MRCP - Expense Ratio Comparison

QBUL has a 0.79% expense ratio, which is higher than MRCP's 0.50% expense ratio.

Dividends

QBUL vs. MRCP - Dividend Comparison

QBUL's dividend yield for the trailing twelve months is around 8.70%, while MRCP has not paid dividends to shareholders.

Position	TTM	2025	2024
MRCP PGIM US Large-Cap Buffer 12 ETF - March	0.00%	0.00%	0.00%
QBUL TrueShares Quarterly Bull Hedge ETF	8.70%	8.94%	1.82%

Frequently Asked Questions

Can I hold both QBUL and MRCP in my portfolio?

QBUL and MRCP have a correlation of 0.70, 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 MRCP?

MRCP has higher volatility (1.36%) compared to QBUL (1.26%). In terms of maximum drawdown, QBUL dropped -2.45% vs MRCP's -10.73%.

Which ETF is better, QBUL or MRCP?

On 1-year performance, MRCP leads with 18.77% vs 6.05% for QBUL. On fees, MRCP is cheaper at 0.50% per year. Their volatility is very similar. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, QBUL or MRCP?

Over the 1-year period, MRCP has performed better with a 18.77% return vs 6.05%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, QBUL or MRCP?

MRCP is cheaper with a 0.50% expense ratio, compared with 0.79% for QBUL.

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

QBUL has the higher dividend yield at 8.70%, compared with 0.00% for MRCP.

What is the main difference between QBUL and MRCP?

They also come from different issuers: TrueShares and PGIM. Their fees differ too: 0.79% for QBUL and 0.50% for MRCP.

Which has better risk-adjusted returns?

MRCP currently has the higher Sharpe Ratio (3.03 vs 1.72), 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.