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Beacon

FEBZTrueShares Structured Outcome (February) ETF

Stay safeGrow my money5y track recordRanked #263 of 343 in this goal

Seeks to track returns of the S&P 500 Price Index while providing a buffer against the first 8% to 12% of losses over twelve months.

By TrueShares · Launched 2021

Annual Cost

0.79%

#4,056 of 5,573 · expensive

Fund Size

$25M

#4,210 of 5,573 · small

Dividend YieldGoal

2.96%

Track Record

5 years

#2,298 of 5,573 · seasoned

Performance

Total-return NAV · USD
Growth of $10,000
$11,833+18.3%

Total-return NAV, USD. Net of fund fees, before tax.

Classification

How Beacon categorizes this fund

Asset class

Alternative

Region

North america

Strategy

Structured outcome

Index tracked

S&P 500 Price Return Index

What it actually holds

By weight

Concentration

Top 4 holdings = 96.8% of fundconcentrated

Treasury Bill
78.0%
The Options Clearing Corp
10.8%
STATE STREET INSTITUTIONAL US
8.0%
The Options Clearing Corp
-0.0%

Asset allocation

Bonds
90.9%
Cash
9.1%

Risk profile

Last 12 months · Sharpe & Sortino need 3+ years
Volatility (1Y)
9.7%Low

Year-on-year price swings

Max drawdown
-17.5%Moderate

Worst peak-to-trough loss

Sharpe (3Y)
0.96Decent risk-adjusted returns
Sortino (3Y)
1.41Good downside protection

Where to buy

Listing

Exchange
Cboe BZX

Full fund details

Objective
Seeks to track returns of the S&P 500 Price Index while providing a buffer against the first 8% to 12% of losses over twelve months.
Strategy
Invests primarily in options on the S&P 500 Price Index, employing a buffer protect strategy to mitigate losses. The Fund sells put options to create a buffer and uses the proceeds to purchase call options, aiming for exposure to the S&P 500's performance.
Inception date
January 29, 2021
Fund family
TrueShares

Our take

Structural notes on how this fund behaves. Read our guide on the 6 warning signs.

Buffer
Warning

Buffer ETF — downside protection at a cost

Defined-outcome funds cap upside (typically 8–20%) in exchange for partial downside protection (9–30%), priced via options. Fees are materially higher than the underlying index (often 0.70%+ vs 0.03–0.10%). For most pre-retirees, a simple stock/bond mix achieves similar downside behaviour at a fraction of the cost.

Source: Morningstar, 'Defined-Outcome ETFs: Useful or Uneconomic?' (2023)

Why we flagged this: strategy=structured_outcome + structured_outcome_strategy

Educational analysis of structural product characteristics. Not investment advice. Always read the fund prospectus and consult a qualified advisor before investing. More

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Data updated on 2026-06-20