ONEZ vs PSEP
TrueShares Seasonality Laddered Buffered ETF vs Innovator U.S. Equity Power Buffer ETF - September
Which is better, ONEZ or PSEP?
PSEP has been ahead.
PSEP has a lower expense ratio. PSEP led over 1Y and the full window. PSEP 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 | ONEZ | PSEP |
|---|---|---|
| Expense Ratio | 0.96% | 0.79%Best |
| AUM | $356M | $1.2B |
| Dividend Yield | 3.63% | 0.00% |
| Holdings | 32 | 12 |
| YTD Return | +7.97%Best | +7.66% |
| 1Y Return | +6.09% | +10.18%Best |
| 3Y Return (annualized) | - | +12.76% |
| 5Y Return (annualized) | - | +9.76% |
| Volatility (annualized) | 9.4% | 6.0%Best |
| Max Drawdown | -13.2% | -9.9%Best |
| $10,000 over 1.7 years | $11,314 | $11,885Best |
| Top 10 Weight | 76.7% | 37.7%Best |
| Fund Family | TrueShares | Innovator ETFs Trust |
| Category | Alternative | Alternative |
| Style | Option Writing | Option Writing |
| Inception | Jan 27, 2025 | Aug 30, 2019 |
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).
ONEZ vs PSEP 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.
ONEZ vs PSEP Performance
TrueShares Seasonality Laddered Buffered ETF (ONEZ) is an ETF from TrueShares and Innovator U.S. Equity Power Buffer ETF - September (PSEP) is an ETF from Innovator ETFs Trust. Over the past year ONEZ returned +6.09% while PSEP returned +10.18%. Year to date, ONEZ is up 7.97% versus a gain of 7.66% for PSEP.
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 6.0% for PSEP. 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 -13.2% for ONEZ and -9.9% for PSEP. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at 0.88. They usually move together, but the gap leaves some room for diversification.
Fees and Cost Over Time
ONEZ charges 0.96% per year while PSEP charges 0.79%. On a $10,000 position that is $96 vs $79 annually, a gap of $17 per year that compounds over a long holding period. On income, ONEZ currently yields 3.63% against 0.00% for PSEP.
Holdings Overlap
We hold position weights for 16 holdings in ONEZ and 494 in PSEP, totalling 100.0% and 98.1% 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 16 positions we hold weights for in ONEZ and 494 in PSEP, against full books of 32 and 12.
What only one of them owns
Our book lists 490 positions for PSEP that do not appear in our book for ONEZ (98.0% of the fund), and 16 for ONEZ that do not appear in PSEP (100.0%).
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 ONEZ and PSEP 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, ONEZ or PSEP?
ONEZ has an expense ratio of 0.96% while PSEP charges 0.79%. PSEP is the cheaper option, by $17 a year on a $10,000 investment.
Which performed better, ONEZ or PSEP?
Over the past year ONEZ returned +6.09% vs +10.18% for PSEP, so PSEP leads on 1-year performance. Over the longest common window we track (2 years), ONEZ annualized +7.53% vs +10.69% for PSEP. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, ONEZ or PSEP?
ONEZ has been the more volatile fund at 9.4% annualized versus 6.0% for PSEP. Worst drawdown: ONEZ -13.2% vs PSEP -9.9%.
Should I hold both ONEZ and PSEP?
ONEZ and PSEP have a monthly-return correlation of 0.88, so their returns are far enough apart for the mix to behave differently from either one alone. This is information, not a recommendation.
Which pays a higher dividend, ONEZ or PSEP?
ONEZ yields 3.63% while PSEP yields 0.00%, so ONEZ currently pays the higher dividend yield.
Is PSEP better than ONEZ?
PSEP has a lower expense ratio. PSEP led over 1Y and the full window. PSEP 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.