PAYMTrueShares S&P Autocallable Defensive Income ETF
Generate moderate monthly income while reducing downside risk.
By TrueShares · Launched 2025
0.74%
#3,625 of 5,562 · average
$113M
#2,818 of 5,562 · mid-size
—
6 months
#5,134 of 5,562 · young
Performance
Total-return NAV · USDTotal-return NAV, USD. Net of fund fees, before tax.
Classification
How Beacon categorizes this fundAsset class
AlternativeRegion
North americaStrategy
Option income
Index tracked
S&P 500 Futures 20% Intraday VT 2% Decrement Index
What it actually holds
By weightConcentration
Top 4 holdings = 85.7% 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
Where to buy
Listing
- Exchange
- Cboe BZX
Full fund details
- Objective
- Generate moderate monthly income while reducing downside risk.
- Strategy
- Actively managed ETF investing at least 80% in U.S. Treasuries, cash, and unfunded total return swaps for exposure to the Autocallable Index, which tracks a synthetic portfolio of autocallable notes linked to the S&P 500 Futures Index.
- Inception date
- December 29, 2025
- Fund family
- TrueShares
Similar ETFs
Closest matches by profileOur take
Structural notes on how this fund behaves. Read our guide on the 6 warning signs.
Covered call ETF — yield ≠ total return
The high distribution yield is not free income — it comes from selling upside via call options. Research finds these strategies systematically underperform their underlying index over full cycles, typically by 100–300 basis points per year depending on the option-overlay design. The monthly distributions make the shortfall hard to see in return summaries.
Source: Israelov & Ndong, 'A Devil's Bargain: When Generating Income Undermines Investment Returns' (NDVR, 2023)
Why we flagged this: strategy=option_income + option_income_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 2026-06-19