BSEP vs ONEZ
Innovator U.S. Equity Buffer ETF - September vs TrueShares Seasonality Laddered Buffered ETF
Which is better, BSEP or ONEZ?
BSEP has been ahead.
BSEP has a lower expense ratio. BSEP led over 1Y and the full window. The two have moved almost in lockstep, correlation 0.90. BSEP is less concentrated, with 37.7% of the fund in its ten largest positions against 76.7%.
MarketXLS is not an investment adviser. This comparison is generated automatically from market data and is for information only. A Best mark means the better reading on that one measure, not a recommendation to buy.
Side-by-Side Comparison
| Metric | BSEP | ONEZ |
|---|---|---|
| Expense Ratio | 0.79%Best | 0.96% |
| AUM | $470M | $356M |
| Dividend Yield | 0.00% | 3.63% |
| Holdings | 1,520 | 32 |
| YTD Return | +10.32%Best | +7.97% |
| 1Y Return | +13.43%Best | +6.09% |
| 3Y Return (annualized) | +16.86% | - |
| 5Y Return (annualized) | +11.29% | - |
| Volatility (annualized) | 8.1%Best | 9.4% |
| Max Drawdown | -13.4% | -13.2%Best |
| $10,000 over 1.7 years | $12,471Best | $11,314 |
| Top 10 Weight | 37.7%Best | 76.7% |
| Fund Family | Innovator ETFs Trust | TrueShares |
| Category | Alternative | Alternative |
| Style | Option Writing | Option Writing |
| Inception | Aug 30, 2019 | Jan 27, 2025 |
Volatility and max drawdown, and the $10,000 over 1.7 years row, are measured over the window both funds cover: Jan 27, 2025 to Oct 14, 2026 (1.7 years).
BSEP vs ONEZ growth
Month-end closes. Both lines start at 0% in the first month shown, so the gap between them is the difference in growth across that window. The full view covers the 1.7 years both funds cover.
BSEP vs ONEZ Performance
Innovator U.S. Equity Buffer ETF - September (BSEP) is an ETF from Innovator ETFs Trust and TrueShares Seasonality Laddered Buffered ETF (ONEZ) is an ETF from TrueShares. Over the past year BSEP returned +13.43% while ONEZ returned +6.09%. Year to date, BSEP is up 10.32% versus a gain of 7.97% for ONEZ.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
ONEZ has been the more volatile fund, with annualized monthly volatility of 9.4% compared with 8.1% for BSEP. Lower volatility generally means a smoother ride, though it often comes with lower long-run returns.
The deepest peak-to-trough decline in our data was -13.4% for BSEP and -13.2% for ONEZ. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at 0.90. They move almost in lockstep, so holding both mostly duplicates the same exposure.
Fees and Cost Over Time
BSEP charges 0.79% per year while ONEZ charges 0.96%. On a $10,000 position that is $79 vs $96 annually, a gap of $17 per year that compounds over a long holding period. On income, BSEP currently yields 0.00% against 3.63% for ONEZ.
Holdings Overlap
We hold position weights for 494 holdings in BSEP and 16 in ONEZ, totalling 98.2% and 100.0% of the two funds. The two books name no position in common, so there is no overlap percentage to show.
0 positions in common, counted across the 494 positions we hold weights for in BSEP and 16 in ONEZ, against full books of 1,520 and 32.
What only one of them owns
Our book lists 16 positions for ONEZ that do not appear in our book for BSEP (100.0% of the fund), and 490 for BSEP that do not appear in ONEZ (98.0%).
Some of those will be the same company recorded under a different code in one of the two books, so the real difference in what you would own is no larger than this and may be smaller. We do not name the individual positions here for that reason.
You are not choosing between two funds in isolation.
Whichever of BSEP and ONEZ you pick has to sit alongside everything else you own. Add the rest and see what the combination actually holds.
Free for up to 10 holdings. No account needed.
Frequently Asked Questions
Which is cheaper, BSEP or ONEZ?
BSEP has an expense ratio of 0.79% while ONEZ charges 0.96%. BSEP is the cheaper option, by $17 a year on a $10,000 investment.
Which performed better, BSEP or ONEZ?
Over the past year BSEP returned +13.43% vs +6.09% for ONEZ, so BSEP leads on 1-year performance. Over the longest common window we track (2 years), BSEP annualized +13.87% vs +7.53% for ONEZ. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, BSEP or ONEZ?
ONEZ has been the more volatile fund at 9.4% annualized versus 8.1% for BSEP. Worst drawdown: BSEP -13.4% vs ONEZ -13.2%.
Should I hold both BSEP and ONEZ?
BSEP and ONEZ have a monthly-return correlation of 0.90, so they move almost identically. What is left to separate them is the fee and the index each one tracks. This is information, not a recommendation.
Which pays a higher dividend, BSEP or ONEZ?
BSEP yields 0.00% while ONEZ yields 3.63%, so ONEZ currently pays the higher dividend yield.
Is ONEZ better than BSEP?
BSEP has a lower expense ratio. BSEP led over 1Y and the full window. The two have moved almost in lockstep, correlation 0.90. BSEP is less concentrated, with 37.7% of the fund in its ten largest positions against 76.7%. Which one suits a particular account depends on what it is for. This is information, not a recommendation.