RNWZ vs. APRZ

Last updated Jun 24, 2026

RNWZ (TrueShares Eagle Global Renewable Energy Income ETF) and APRZ (TrueShares Structured Outcome (April) ETF) are both exchange-traded funds - RNWZ is a Energy Equities fund actively managed by TrueShares, while APRZ is a Defined Outcome fund tracking the S&P 500 Price Return Index. RNWZ is actively managed, while APRZ is passively managed. Over the past 3 years, RNWZ returned 11.64%/yr vs 14.96%/yr for APRZ. At a 0.43 correlation, their price movements are largely independent. RNWZ charges 0.75%/yr vs 0.79%/yr for APRZ.

Performance

RNWZ vs. APRZ - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in TrueShares Eagle Global Renewable Energy Income ETF (RNWZ) and TrueShares Structured Outcome (April) ETF (APRZ). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, RNWZ achieves a 13.62% return, which is significantly higher than APRZ's 5.36% return.

RNWZ

• 1D: -0.37%
• 1M: -2.92%
• YTD: 13.62%
• 6M: 14.12%
• 1Y: 31.84%
• 3Y*: 11.64%
• 5Y*: —
• 10Y*: —

APRZ

• 1D: -1.04%
• 1M: -0.88%
• YTD: 5.36%
• 6M: 4.65%
• 1Y: 17.09%
• 3Y*: 14.96%
• 5Y*: 10.61%
• 10Y*: —

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

RNWZ vs. APRZ - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
RNWZ TrueShares Eagle Global Renewable Energy Income ETF	13.62%	36.33%	-7.36%	-3.89%	-0.74%
APRZ TrueShares Structured Outcome (April) ETF	5.36%	12.97%	18.46%	22.23%	-1.39%

Correlation

The correlation between RNWZ and APRZ is 0.39, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.39
Correlation (3Y) Calculated over the trailing 3-year period	0.38
Correlation (All Time) Calculated using the full available price history since Dec 9, 2022	0.43

RNWZ vs. APRZ - Sectors Allocation Comparison

Sectors	RNWZ	APRZ
Utilities	41.0%	2.5%
Financial Services	6.7%	13.4%
Industrials	5.3%	7.8%
Basic Materials	4.8%	1.6%
Energy	3.7%	3.0%
Real Estate	3.1%	2.0%
Communication Services	-	9.9%
Consumer Cyclical	-	10.6%
Consumer Defensive	-	5.2%
Healthcare	-	8.8%
Technology	-	35.3%

Return for Risk

RNWZ vs. APRZ — Risk / Return Rank

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

RNWZ

RNWZ Risk / Return Rank: 71
RNWZ Sharpe Ratio Rank: 70
RNWZ Sortino Ratio Rank: 68
RNWZ Omega Ratio Rank: 67
RNWZ Calmar Ratio Rank: 85
RNWZ Martin Ratio Rank: 67

APRZ

APRZ Risk / Return Rank: 49
APRZ Sharpe Ratio Rank: 51
APRZ Sortino Ratio Rank: 49
APRZ Omega Ratio Rank: 50
APRZ Calmar Ratio Rank: 42
APRZ Martin Ratio Rank: 53

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.

RNWZ vs. APRZ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for TrueShares Eagle Global Renewable Energy Income ETF (RNWZ) and TrueShares Structured Outcome (April) ETF (APRZ). 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.

	RNWZ	APRZ	Difference
Sharpe ratio: Return per unit of total volatility	2.10	1.61	+0.48
Sortino ratio: Return per unit of downside risk	2.86	2.25	+0.61
Omega ratio: Gain probability vs. loss probability	1.37	1.29	+0.08
Calmar ratio: Return relative to maximum drawdown	4.34	1.94	+2.40
Martin ratio: Return relative to average drawdown	11.33	8.38	+2.95

RNWZ vs. APRZ - Sharpe Ratio Comparison

The current RNWZ Sharpe Ratio is 2.10, which is comparable to the APRZ Sharpe Ratio of 1.61. The chart below compares the historical Sharpe Ratios of RNWZ and APRZ, 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

RNWZ vs. APRZ - Drawdown Comparison

The maximum RNWZ drawdown since its inception was -24.90%, which is greater than APRZ's maximum drawdown of -18.15%. Use the drawdown chart below to compare losses from any high point for RNWZ and APRZ.

Drawdown Indicators

	RNWZ	APRZ	Difference
Max Drawdown Largest peak-to-trough decline	-24.90%	-18.15%	-6.75%
Max Drawdown (1Y) Largest decline over 1 year	-7.36%	-8.85%	+1.49%
Max Drawdown (3Y) Largest decline over 3 years	-24.74%	-15.15%	-9.59%
Max Drawdown (5Y) Largest decline over 5 years	—	-18.15%	—
Current Drawdown Current decline from peak	-6.64%	-2.43%	-4.21%
Average Drawdown Average peak-to-trough decline	-7.16%	-3.61%	-3.55%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.82%	2.04%	+0.78%

Volatility

RNWZ vs. APRZ - Volatility Comparison

TrueShares Eagle Global Renewable Energy Income ETF (RNWZ) has a higher volatility of 3.99% compared to TrueShares Structured Outcome (April) ETF (APRZ) at 3.73%. This indicates that RNWZ's price experiences larger fluctuations and is considered to be riskier than APRZ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	RNWZ	APRZ	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.99%	3.73%	+0.26%
Volatility (6M) Calculated over the trailing 6-month period	12.21%	8.62%	+3.59%
Volatility (1Y) Calculated over the trailing 1-year period	15.30%	10.67%	+4.63%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.95%	12.60%	+4.35%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.95%	12.45%	+4.50%

RNWZ vs. APRZ - Expense Ratio Comparison

RNWZ has a 0.75% expense ratio, which is lower than APRZ's 0.79% expense ratio.

Dividends

RNWZ vs. APRZ - Dividend Comparison

RNWZ's dividend yield for the trailing twelve months is around 1.97%, less than APRZ's 3.18% yield.

Position	TTM	2025	2024	2023	2022
APRZ TrueShares Structured Outcome (April) ETF	3.18%	3.35%	2.78%	2.89%	0.59%
RNWZ TrueShares Eagle Global Renewable Energy Income ETF	1.97%	2.12%	2.36%	3.87%	0.01%

Frequently Asked Questions

Can I hold both RNWZ and APRZ in my portfolio?

RNWZ and APRZ have a correlation of 0.39, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, RNWZ or APRZ?

RNWZ has higher volatility (3.99%) compared to APRZ (3.73%). In terms of maximum drawdown, RNWZ dropped -24.90% vs APRZ's -18.15%.

Which ETF is better, RNWZ or APRZ?

On 3-year performance, APRZ leads with 14.96% vs 11.64% for RNWZ. On fees, RNWZ is cheaper at 0.75% per year. On volatility, APRZ has been the lower-risk option at 3.73%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, RNWZ or APRZ?

Over the 3-year period, APRZ has performed better with a 14.96% return vs 11.64%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, RNWZ or APRZ?

RNWZ is cheaper with a 0.75% expense ratio, compared with 0.79% for APRZ.

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

APRZ has the higher dividend yield at 3.18%, compared with 1.97% for RNWZ.

What is the main difference between RNWZ and APRZ?

RNWZ is categorized as Energy Equities, while APRZ is Defined Outcome. Their fees differ too: 0.75% for RNWZ and 0.79% for APRZ.

Which has better risk-adjusted returns?

RNWZ currently has the higher Sharpe Ratio (2.10 vs 1.61), 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.