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Launched · SEC filings

TrueShares Structured Outcome (December) ETF

DECZCboeTrueSharesC

$43.30−0.09 (−0.22%)

As of Nov 2, 2026, 3:59 PM ET

C46/ 100

Rank 44 of 77 in S&P 500 Buffer 9-12%

C46/100Rank 44 of 77inS&P 500 Buffer 9-12%
Intraday session: down, 78 prints from 43.40 to 43.30. Range 43.30 to 43.66. Use the arrow keys to read each point.43.5043.6010 AM12 PM2 PM4 PM
Expense ratio
0.79%
Fund size
$37M
1Y total return
+7.9%
Yield · Last 12 months
3.04%
Holdings
17
Avg volume · 30D
1.55K sh
52W range
low $37.98high $44.76
Launched
Filings
SEC EDGAR

The ETF.net DECZ Grade

Based on 5 of 6 pillars

C

Score 46 out of 100

Category
S&P 500 Buffer 9-12%⁠
Rank
44 of 77
Six-pillar profile for DECZ. Scores out of 100: Cost 40, Risk 24, Mission not scored, Tradability 46, Holdings 100, Durability 43. Strongest: Holdings (100). Weakest: Risk (24). Based on 5 of 6 pillars.

Score 46 of 100 falls in the C band. A is 70 or higher, B 55 to under 70, C 40 to under 55, D 25 to under 40, F under 25.

  • Cost

    The fund’s net expense ratio, ranked against its category.
    C40 out of 100
    Rank 34 of 77

  • Mission

    Whether the fund did what it promised, tested against its stated mandate.
    Not scored

  • Risk

    How the fund held up when markets fell: downside volatility, drawdowns and tail loss.
    F24 out of 100
    Rank 68 of 77

  • Tradability

    How easy the fund is to trade: daily volume, and how far its price strays from net asset value.
    C46 out of 100
    Rank 44 of 77

  • Holdings

    How concentrated the fund is, and how complete and current its disclosed holdings are.
    A100 out of 100
    Rank 1 of 45

  • Durability

    Whether the fund is likely to stay open, judged by its age, its assets and its issuer’s assets.
    C43 out of 100
    Rank 54 of 77

Our read on DECZ

ETF.net Research

In short

CMost buffer ETFs trade your upside for the cushion. DECZ skips the hard cap: it aims to absorb the first 8% to 12% of S&P 500 price-index losses each 12-month period, at 0.79% with no waiver.

Stated mandate

The Fund seeks to track the S&P 500 Price Return Index before fees and expenses while cushioning the first 8% to 12% of index losses during each twelve-month period.

Why people hold it

  • No stated ceiling on gains. TrueShares built this series around leaving the rally side open, with upside set by options pricing rather than a fixed cap.true-shares.comtrue-shares.com 2
  • The buffer is spelled out in the fund's own documents: the first 8% to 12% of index losses per 12-month period, with the manager targeting 10%.true-shares.com
  • The payoff is built from exchange-listed FLEX options inside a 1940 Act fund, not a bank-issued note, so no third-party credit sits behind it.sec.gov

Worth knowing

  • Uncapped is not full participation. Option costs come out of the upside, and the reference is the S&P 500 price index, so index dividends sit outside the return.true-shares.com
  • Fee is 0.79% with no waiver, near the category median. Cheaper buffer builds exist, including AUGP and PQX at 0.50%.
  • Small and thinly traded, and the buffer is measured from each period's start, so a mid-period buy gets a different cushion than a day-one holder.sec.gov

DECZ Holdings

Holdings pillarA100 out of 100Rank 1 of 45 in S&P 500 Buffer 9-12%
Asset class
Stocks
Holdings
17
Top-10 weight
100%
Largest holding
Treasury Bill B 11/27/2691.0%

Sectors

  • Technology37.9%
  • Financials11.7%
  • Communication10.0%
  • Consumer Discretionary9.6%
  • Health Care9.1%
  • Industrials8.4%
  • Consumer Staples4.6%
  • Energy3.0%
  • Utilities2.3%
  • Real Estate1.9%
  • Materials1.7%

Geography

  • United States100.00%
The fund’s holdings, weight-ordered — page 1 of 2.
#TickerCompanyWeight %SharesMarket valueHeld by ETFs
1No dataTreasury Bill B 11/27/2690.97%33,288,100$33.2M29
2No dataSPY 11/30/26 C683.42 Euro Cash Flex7.04%335$2.57M1
3No dataSPY 11/30/26 C683.40 Euro Cash Flex0.46%22$169K1
4No dataSPY 11/30/26 C665.00 Euro Cash Flex0.39%15$142K1
5No dataSPY 11/30/26 C696.01 Euro Cash Flex0.21%12$77.7K1
6No dataSPY 11/30/26 C683.01 Euro Cash Flex0.21%10$77.1K1
7No dataSPY 11/30/26 C686.01 Euro Cash Flex0.20%10$74.2K1
8No dataSPY 11/30/26 C667.00 Euro Cash Flex0.13%5$46.3K1
9No dataSPY 11/30/26 C710.00 Euro Cash Flex0.11%8$41.4K1
10No dataSPY 11/30/26 C694.00 Euro Cash Flex0.09%5$33.3K1
11No dataState Street Inst U.s. Government Mmkt Admn Class0.08%30,310$30.3K22
12No dataSPY 11/30/26 C725.00 Euro Cash Flex0.06%6$23.1K1
13No dataSPY 11/30/26 C734.00 Euro Cash Flex0.05%6$18.5K1
14No dataSPY 11/30/26 C714.00 Euro Cash Flex0.04%3$14.4K1
15No dataBroker Sweep0.04%13,255$13.3K14

Showing 1–15 of 17 holdings

DECZ Performance

Launched Nov 30, 2020

Shows how $10,000 changes over the selected period, with cash distributions reinvested at the closing price on each ex-dividend date.

Not enough history yet.
DECZ$10,790
SPY tracks large US stocks. It provides market context, rather than representing this fund’s strategy, asset class or investment benchmark.$11,199
Oct 31, 2025 to Oct 30, 2026. DECZ $10,790. SPY $11,199. Use the arrow keys to read each point.$10,000$11,000Oct 2025Apr 2026Oct 2026

Oct 31, 2025 – Oct 30, 2026

Returns run to the Oct 30, 2026 close, with cash distributions reinvested. Each period starts on the same date that many months or years earlier. Periods over one year show the average yearly return.

Trailing total return for DECZ. Periods over one year show the average yearly return.
PeriodDECZ
Year to date+7.8%
1 month−1.1%
3 months+0.4%
1 year+7.9%
3 yearsper year+16.5%
5 yearsper year+9.7%
10 yearsFund is under 10 years oldper yearNo data

With distributions reinvested.

Calendar-year total return with cash distributions hypothetically reinvested at the ex-dividend date’s closing price. The current year shows year to date.

Annual total returns for DECZ
YearReturn barDECZ
2026 YTD+7.8%
2025+12.3%
2024+18.9%
2023+18.3%
2022−9.0%
2021+20.2%
2020+1.6%

History from Dec 1, 2020

DECZ in the news

DECZ Dividends

Adds up every distribution paid per share over the last 12 months, divided by the last completed close. Distributions are counted by ex-date. Data through Oct 30, 2026.
3.04%Last 12 months
Payout per share
$1.32Last 12 months
Last payment
$1.32 per share
Paid on
Shares bought on or after this date do not qualify for this distribution.
Frequency
Annual

Distribution history

2021–2026

One bar per payment. 5 payments from 2021 to 2026 YTD. Dec 29, 2021 $0.14; Dec 29, 2022 $0.39; Dec 27, 2023 $0.39; Dec 27, 2024 $0.94; Dec 24, 2025 $1.32. Use the arrow keys to read each point.202120222023202420252026YTD
Ex-datePay dateAmount per share
Dec 24, 2025Dec 26, 2025$1.32
Dec 27, 2024Dec 30, 2024$0.94
Dec 27, 2023Dec 29, 2023$0.39
Dec 29, 2022Jan 3, 2023$0.39
Dec 29, 2021Dec 31, 2021$0.14

$10,000 in DECZ 5 years ago paid $1,050 in dividends.

DECZ Risk

Risk pillarF24 out of 100Rank 68 of 77 in S&P 500 Buffer 9-12%
How much the fund’s monthly returns vary, scaled to a year.
9.1%
Annualised · 36 months to Oct 2026
How it’s calculated: standard deviation

The sample standard deviation of monthly total returns, multiplied by the square root of 12.

Uses up to 36 complete months, with at least 12 required. Total returns include reinvested distributions.

Return above 3-month US Treasury bills per unit of volatility.
1.25
vs 3-month T-bills · to Oct 2026
How it’s calculated: Sharpe ratio

Subtract each month’s Treasury-bill return from the fund’s monthly total return.

Divide the average of those excess returns by their sample standard deviation, then multiply by the square root of 12.

Uses up to 36 complete months, with at least 12 required. Each month uses the Treasury yield quoted at the end of the previous month.

The largest fall from a peak to the low that followed.
−16.6%
Trough Oct 2022
How it’s calculated: maximum drawdown

The largest percentage decline from an earlier peak, using total returns with reinvested distributions.

Uses up to five years through the last close, with at least 12 months required.

How strongly the fund’s returns move with its asset-class index.
0.71
vs its asset-class index
How it’s calculated: beta

The beta figure is supplied by FMP. The comparison index depends on the fund’s broad asset class.

FMP measures it over up to five years of monthly returns.

DECZ Cost

Compare DECZ and XTR

Overpaying vs XTR, cheapest in S&P 500 Buffer 9-12%

$10,015

On $10,000 over 30 years. 7% growth a year before fees, expense ratio only.

  • DECZ 0.79%

    $15,174

  • XTR 0.25% Cheapest

    $5,159

$10,000
30 years

Cost over time

  • DECZ 0.79%
  • XTR 0.25%
  • Overpaying
One line per fund, from year 0 to year 30. Use the arrow keys to read each point.$0$5K$10K$15K$20K051015202530DECZ $15,174XTR $5,159

Year by year

YearDECZXTROverpaying
10$1,405$455$950
20$5,331$1,769$3,562
30$15,174$5,159$10,015

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