PAYHTrueShares S&P Autocallable High Income ETF
Generates high monthly income while reducing downside risk.
By TrueShares · Launched 2025
0.74%
#3,776 of 5,853 · average
$24M
#4,318 of 5,853 · small
—
8 months
#5,037 of 5,853 · young
Performance
Total-return NAV · USDTotal-return NAV, USD. Net of fund fees, before tax.
What's inside
How Beacon categorizes this fundWhat it actually holds
By weightConcentration
Top 5 holdings = 101.9% of fundconcentrated
Asset allocation
Risk profile
Last 12 months · Sharpe & Sortino need 3+ yearsWorst peak-to-trough loss
Needs 3+ years of history
Needs 3+ years of history
Listing
- Exchange
- Cboe BZX
Full fund details
- Objective
- Generates high monthly income while reducing downside risk.
- Strategy
- Actively manages a synthetic portfolio of autocallable notes linked to the S&P 500 Futures 35% Intraday VT 4% Decrement Index. Invests primarily in U.S. Treasuries and cash equivalents, utilizing unfunded total return swaps for exposure.
- Inception date
- December 29, 2025
- Fund family
- TrueShares
Similar funds
Same asset class, closest by strategy & exposureOur take
Structural notes on how this fund behaves. Read our guide on the 6 warning signs.
The big yield isn't extra money
The headline distribution comes from selling call options, which caps the fund's upside. Across a full market cycle that trade costs more than it brings in — often 1 to 3 percentage points a year against just holding the index. Monthly payouts make the gap easy to miss on a return summary.
Sources: Israelov & Ndong, 'A Devil's Bargain: When Generating Income Undermines Investment Returns' (NDVR, 2023)
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 2026-08-02