THEQ vs. ONEH

Last updated Aug 5, 2026

THEQ (T. Rowe Price Hedged Equity ETF) and ONEH (TrueShares Equity Hedge ETF) are both Equity Hedged funds. Both are actively managed. Their 0.20 correlation means their historical movements had little consistent relationship. THEQ charges 0.46%/yr vs 0.79%/yr for ONEH.

Performance

THEQ vs. ONEH - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in T. Rowe Price Hedged Equity ETF (THEQ) and TrueShares Equity Hedge ETF (ONEH). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

THEQ

• 1D: 1.39%
• 1M: 2.82%
• 6M: 7.77%
• YTD: 8.91%
• 1Y: 14.61%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 16.34%

ONEH

• 1D: 0.15%
• 1M: 0.80%
• 6M: -0.18%
• YTD: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: —

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
ONEH TrueShares Equity Hedge ETF	$1.52M	$717.75K	$310.83K
THEQ T. Rowe Price Hedged Equity ETF	$177.26K	$124.05K	$169.23K

THEQ vs. ONEH - Yearly Performance Comparison

	2026 (YTD)
THEQ T. Rowe Price Hedged Equity ETF	7.11%
ONEH TrueShares Equity Hedge ETF	-0.66%

Correlation

The correlation between THEQ and ONEH is 0.20, which is low. Their historical price movements had little consistent relationship.

	Correlation
Correlation (All Time) Calculated using the full available price history since Jan 29, 2026	0.20

Return for Risk

THEQ vs. ONEH — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

THEQ

THEQ Risk / Return Rank: 59
THEQ Sharpe Ratio Rank: 57
THEQ Sortino Ratio Rank: 56
THEQ Omega Ratio Rank: 55
THEQ Calmar Ratio Rank: 59
THEQ Martin Ratio Rank: 69

ONEH

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

THEQ vs. ONEH - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for T. Rowe Price Hedged Equity ETF (THEQ) and TrueShares Equity Hedge ETF (ONEH). 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.

	THEQ	ONEH	Difference
Sharpe ratio: Return per unit of total volatility	1.57	—	—
Sortino ratio: Return per unit of downside risk	2.21	—	—
Omega ratio: Gain probability vs. loss probability	1.28	—	—
Calmar ratio: Return relative to maximum drawdown	2.38	—	—
Martin ratio: Return relative to average drawdown	9.54	—	—

Drawdowns

THEQ vs. ONEH - Drawdown Comparison

The maximum THEQ drawdown since its inception was -8.20%, which is greater than ONEH's maximum drawdown of -3.55%. Use the drawdown chart below to compare losses from any high point for THEQ and ONEH.

Drawdown Indicators

	THEQ	ONEH	Difference
Max Drawdown Largest peak-to-trough decline	-8.20%	-3.55%	-4.65%
Max Drawdown (1Y) Largest decline over 1 year	-6.17%	—	—
Current Drawdown Current decline from peak	0.00%	-0.66%	+0.66%
Average Drawdown Average peak-to-trough decline	-1.07%	-1.49%	+0.42%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.54%	—	—

Volatility

Volatility by Period

	THEQ	ONEH	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.18%	—	—
Volatility (6M) Calculated over the trailing 6-month period	7.39%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	9.47%	5.05%	+4.42%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	11.55%	5.05%	+6.50%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	11.55%	5.05%	+6.50%

THEQ vs. ONEH - Expense Ratio Comparison

THEQ has a 0.46% expense ratio, which is lower than ONEH's 0.79% expense ratio.

Dividends

THEQ vs. ONEH - Dividend Comparison

THEQ's dividend yield for the trailing twelve months is around 0.73%, while ONEH has not paid dividends to shareholders.

Position	TTM	2025
ONEH TrueShares Equity Hedge ETF	0.00%	0.00%
THEQ T. Rowe Price Hedged Equity ETF	0.73%	0.79%

Frequently Asked Questions

Can I hold both THEQ and ONEH in my portfolio?

THEQ and ONEH have a correlation of 0.20, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, THEQ or ONEH?

On fees, THEQ is cheaper at 0.46% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, THEQ or ONEH?

THEQ is cheaper with a 0.46% expense ratio, compared with 0.79% for ONEH.

Which ETF pays a higher dividend yield, THEQ or ONEH?

THEQ has the higher dividend yield at 0.73%, compared with 0.00% for ONEH.

What is the main difference between THEQ and ONEH?

They also come from different issuers: T. Rowe Price and TrueShares. Their fees differ too: 0.46% for THEQ and 0.79% for ONEH.