TrueShares ConVex Protect ETF (PVEX) Performance
PVEX total return
Distributions reinvested · as of Oct 23, 2026- YTD
- +7.4% since Dec 31, 2025
- 1 year
- +8.3% total return
- Since first price
- +22.2% since 2025
PVEX trailing returns vs AGG, TLT, SPY
| Period | PVEX total return | Price only | U.S. bonds (AGG) | 20+ yr Treasuries (TLT) | S&P 500 (SPY) |
|---|---|---|---|---|---|
| 1 month | −1.6% | −1.6% | +0.9% | +1.5% | −1.0% |
| 3 months | +1.9% | +1.9% | −0.4% | −1.0% | +3.2% |
| 6 months | +4.3% | +4.3% | −1.5% | −3.8% | +7.8% |
| YTD | +7.4% | +7.4% | −1.0% | −3.4% | +12.3% |
| 1 year | +8.3% | +8.1% | −1.1% | −6.9% | +14.4% |
| Since inceptionJun 30, 2025 | +22.2% | +21.9% | — | — | — |
Total return from adjusted closes (distributions reinvested, before tax). Periods of 3 years or more are also shown annualized. Price only excludes distributions.
Growth of $10,000: PVEX vs AGG
From Jun 30, 2025: PVEX grew to $12,215, AGG to $10,203.
Year-end values with distributions reinvested, no taxes or trading costs. Start: first common trading day of both funds.
PVEX returns by calendar year
2026 is year to date.
PVEX annual returns table
| Year | PVEX | Largest drop | AGG | TLT | SPY |
|---|---|---|---|---|---|
| 2026YTD | +7.4% | −6.6% | −1.0% | −3.4% | +12.3% |
Largest drop = deepest fall from a high within that calendar year.
Calendar-year return vs largest drop within the year
Most years include a sizable fall at some point even when the year ends higher.
PVEX largest drawdowns
Now 4.5% below the high| Peak | Decline | Bottom | Recovered | Fall | Underwater |
|---|---|---|---|---|---|
| Oct 28, 2025 | −7.6% | Mar 30, 2026 | Apr 17, 2026 | 5 months | 6 months |
| Jul 25, 2025 | −7.1% | Aug 1, 2025 | Sep 10, 2025 | 7 days | 47 days |
| Jun 2, 2026 | −5.8% | Jul 29, 2026 | Aug 4, 2026 | 57 days | 2 months |
| Aug 13, 2026 | −5.3% | Sep 16, 2026 | not yet | 34 days | 2 months so far |
Declines from a closing high (distributions reinvested) of 5% or more. Underwater = time from the peak until the old high was regained.
PVEX risk statistics
| Statistic | Since 2025 |
|---|---|
| Annualized return | +18.2% |
| Volatility (annualized) | 11.3% |
| Sharpe ratio | 1.21 |
| Sortino ratio | 3.15 |
| Best month | +7.9% |
| Worst month | −3.2% |
| Best 12 months | +22.5% |
| Worst 12 months | +9.5% |
| Positive months | 53% |
| Beta vs S&P 500 | — |
| Correlation with S&P 500 | — |
From monthly total returns. Sharpe and Sortino use 1–3 month T-bills (BIL) as the risk-free rate, so they need history from 2007 on.
PVEX rolling returns
| Holding period | Periods | Worst | Median | Best | Positive |
|---|---|---|---|---|---|
| 1-year | 5 | +5.6% | +16.8% | +22.5% | 100% |
Every holding period starting at a month-end since 2025. Returns for 3 years and longer are annualized.
PVEX performance overview
TrueShares ConVex Protect ETF (PVEX) returned +8.3% over the past year, with distributions reinvested. Since its first recorded price on Jun 30, 2025 it has returned +22.2%. Over the same year U.S. bonds (AGG) returned −1.1%.
The deepest decline was −7.6%, from Oct 28, 2025 to Mar 30, 2026, and it took 18 days to get back to the old high. Volatility has been 11.3% a year.
Related: PVEX chart, PVEX dividends, PVEX bond profile. See the PVEX overview for the latest quote and fund facts.
PVEX performance FAQ
What is the PVEX return over the past year?
PVEX returned +8.3% over the 12 months to October 23, 2026, including reinvested distributions. On price alone it rose 8.1%.
How much would $10,000 invested in PVEX be worth?
$10,000 invested in PVEX at its first recorded close on June 30, 2025 would be worth about $12,215 on October 23, 2026 with distributions reinvested.
What is the biggest drawdown of PVEX?
The largest peak-to-trough decline was −7.6% between October 28, 2025 and March 30, 2026. It recovered to the old high on April 17, 2026, 18 days after the bottom.
How volatile is PVEX?
Over the past history PVEX had an annualized volatility of 11.3% and a Sharpe ratio of 1.21 (excess return over 1–3 month T-bills per unit of risk).