SEPZTrueShares Structured Outcome (September) ETF
Tracks the S&P 500 Price Return Index while providing a buffer against the first 8% to 12% of losses over a twelve-month period.
By TrueShares · Launched 2020
0.80%
#4,362 of 5,861 · expensive
$126M
#2,789 of 5,861 · mid-size
+13.8%
5 years
#2,124 of 5,861 · seasoned
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 8 holdings = 100.1% of fundconcentrated
Asset allocation
Risk profile
Last 12 months · Sharpe & Sortino need 3+ yearsYear-on-year price swings
Worst peak-to-trough loss
Listing
- Exchange
- Cboe BZX
Full fund details
- Objective
- Tracks the S&P 500 Price Return Index while providing a buffer against the first 8% to 12% of losses over a twelve-month period.
- Strategy
- Actively managed ETF that invests substantially all assets in options on the S&P 500 Price Index, employing a buffer protect strategy to mitigate the first 8% to 12% decline. Seeks to track the S&P 500 Price Index returns while providing downside protection during the Investment Period.
- Inception date
- August 31, 2020
- 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.
You can build this cheaper yourself
Defined-outcome funds cap your gains (often 8% to 20%) in exchange for cushioning losses by 9% to 30%, priced with options. The fee runs about 0.70% or more, against 0.03% to 0.10% for a plain index fund. For most investors, a simple stock-and-bond mix gives similar protection for far less.
Sources: Morningstar, 'Buffer Funds Are on the Rise, but They May Not Make Sense for Most Investors' (2025)
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 2026-08-04