SEPZ vs. DMAR

Last updated Jun 4, 2026

SEPZ (TrueShares Structured Outcome (September) ETF) and DMAR (FT Cboe Vest U.S. Equity Deep Buffer ETF - March) are both Options Trading funds. SEPZ is passively managed, while DMAR is actively managed. Over the past 5 years, SEPZ returned 11.53%/yr vs 7.74%/yr for DMAR. Their correlation of 0.89 suggests significant overlap in exposure. SEPZ charges 0.80%/yr vs 0.85%/yr for DMAR.

Performance

SEPZ vs. DMAR - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in TrueShares Structured Outcome (September) ETF (SEPZ) and FT Cboe Vest U.S. Equity Deep Buffer ETF - March (DMAR). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, SEPZ achieves a 8.19% return, which is significantly higher than DMAR's 7.21% return.

SEPZ

• 1D: -0.70%
• 1M: 4.17%
• YTD: 8.19%
• 6M: 8.10%
• 1Y: 20.60%
• 3Y*: 16.43%
• 5Y*: 11.53%
• 10Y*: —

DMAR

• 1D: -0.10%
• 1M: 1.43%
• YTD: 7.21%
• 6M: 8.16%
• 1Y: 14.75%
• 3Y*: 12.11%
• 5Y*: 7.74%
• 10Y*: —

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

SEPZ vs. DMAR - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
SEPZ TrueShares Structured Outcome (September) ETF	8.19%	13.18%	18.23%	17.94%	-8.51%	17.16%
DMAR FT Cboe Vest U.S. Equity Deep Buffer ETF - March	7.21%	9.13%	12.74%	12.25%	-5.48%	7.04%

Correlation

The correlation between SEPZ and DMAR is 0.85, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.85
Correlation (3Y) Calculated over the trailing 3-year period	0.89
Correlation (5Y) Calculated over the trailing 5-year period	0.89
Correlation (All Time) Calculated using the full available price history since Mar 23, 2021	0.89

The correlation between SEPZ and DMAR has been stable across timeframes, ranging from 0.85 to 0.89 - a consistent structural relationship.

SEPZ vs. DMAR - Sectors Allocation Comparison

Sectors	SEPZ	DMAR
Technology	35.3%	36.2%
Financial Services	13.4%	11.9%
Consumer Cyclical	10.6%	10.1%
Communication Services	9.9%	10.9%
Healthcare	8.8%	8.4%
Industrials	7.8%	8.1%
Consumer Defensive	5.2%	4.9%
Energy	3.0%	3.5%
Utilities	2.5%	2.3%
Real Estate	2.0%	1.9%
Basic Materials	1.6%	1.8%

Return for Risk

SEPZ vs. DMAR — Risk / Return Rank

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

SEPZ

SEPZ Risk / Return Rank: 63
SEPZ Sharpe Ratio Rank: 62
SEPZ Sortino Ratio Rank: 64
SEPZ Omega Ratio Rank: 60
SEPZ Calmar Ratio Rank: 57
SEPZ Martin Ratio Rank: 69

DMAR

DMAR Risk / Return Rank: 97
DMAR Sharpe Ratio Rank: 96
DMAR Sortino Ratio Rank: 98
DMAR Omega Ratio Rank: 98
DMAR Calmar Ratio Rank: 96
DMAR Martin Ratio Rank: 98

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.

SEPZ vs. DMAR - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for TrueShares Structured Outcome (September) ETF (SEPZ) and FT Cboe Vest U.S. Equity Deep Buffer ETF - March (DMAR). 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.

	SEPZ	DMAR	Difference
Sharpe ratio: Return per unit of total volatility	2.08	4.07	-2.00
Sortino ratio: Return per unit of downside risk	2.96	7.00	-4.04
Omega ratio: Gain probability vs. loss probability	1.37	2.04	-0.67
Calmar ratio: Return relative to maximum drawdown	2.83	9.68	-6.84
Martin ratio: Return relative to average drawdown	12.83	62.37	-49.54
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

SEPZ vs. DMAR - Sharpe Ratio Comparison

The current SEPZ Sharpe Ratio is 2.08, which is lower than the DMAR Sharpe Ratio of 4.07. The chart below compares the historical Sharpe Ratios of SEPZ and DMAR, 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

	SEPZ	DMAR	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.08	4.07	-2.00
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.94	1.11	-0.16
Sharpe Ratio (All Time) Calculated using the full available price history	1.05	1.17	-0.12

Drawdowns

SEPZ vs. DMAR - Drawdown Comparison

The maximum SEPZ drawdown since its inception was -15.22%, which is greater than DMAR's maximum drawdown of -9.84%. Use the drawdown chart below to compare losses from any high point for SEPZ and DMAR.

Drawdown Indicators

	SEPZ	DMAR	Difference
Max Drawdown Largest peak-to-trough decline	-15.22%	-9.84%	-5.38%
Max Drawdown (1Y) Largest decline over 1 year	-7.30%	-1.53%	-5.77%
Max Drawdown (3Y) Largest decline over 3 years	-14.57%	-9.16%	-5.41%
Max Drawdown (5Y) Largest decline over 5 years	-15.22%	-9.84%	-5.38%
Current Drawdown Current decline from peak	-0.87%	-0.13%	-0.74%
Average Drawdown Average peak-to-trough decline	-2.84%	-1.85%	-0.99%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.61%	0.24%	+1.37%

Volatility

SEPZ vs. DMAR - Volatility Comparison

TrueShares Structured Outcome (September) ETF (SEPZ) has a higher volatility of 2.68% compared to FT Cboe Vest U.S. Equity Deep Buffer ETF - March (DMAR) at 0.67%. This indicates that SEPZ's price experiences larger fluctuations and is considered to be riskier than DMAR based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SEPZ	DMAR	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.68%	0.67%	+2.01%
Volatility (6M) Calculated over the trailing 6-month period	7.28%	2.74%	+4.54%
Volatility (1Y) Calculated over the trailing 1-year period	9.97%	3.64%	+6.33%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	12.29%	7.04%	+5.25%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	12.46%	6.97%	+5.49%

SEPZ vs. DMAR - Expense Ratio Comparison

SEPZ has a 0.80% expense ratio, which is lower than DMAR's 0.85% expense ratio.

Dividends

SEPZ vs. DMAR - Dividend Comparison

SEPZ's dividend yield for the trailing twelve months is around 2.03%, while DMAR has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021
DMAR FT Cboe Vest U.S. Equity Deep Buffer ETF - March	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
SEPZ TrueShares Structured Outcome (September) ETF	2.03%	2.20%	3.62%	3.55%	0.69%	0.05%

Frequently Asked Questions

Can I hold both SEPZ and DMAR in my portfolio?

SEPZ and DMAR have a correlation of 0.85, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, SEPZ or DMAR?

SEPZ has higher volatility (2.68%) compared to DMAR (0.67%). In terms of maximum drawdown, SEPZ dropped -15.22% vs DMAR's -9.84%.

Which ETF is better, SEPZ or DMAR?

On 5-year performance, SEPZ leads with 11.53% vs 7.74% for DMAR. On fees, SEPZ is cheaper at 0.80% per year. On volatility, DMAR has been the lower-risk option at 0.67%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, SEPZ or DMAR?

Over the 5-year period, SEPZ has performed better with a 11.53% return vs 7.74%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, SEPZ or DMAR?

SEPZ is cheaper with a 0.80% expense ratio, compared with 0.85% for DMAR.

Which ETF pays a higher dividend yield, SEPZ or DMAR?

SEPZ has the higher dividend yield at 2.03%, compared with 0.00% for DMAR.

What is the main difference between SEPZ and DMAR?

They also come from different issuers: TrueShares and FT Vest. Their fees differ too: 0.80% for SEPZ and 0.85% for DMAR.

Which has better risk-adjusted returns?

DMAR currently has the higher Sharpe Ratio (4.07 vs 2.08), 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.