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Launched · SEC filings

TrueShares Patriot Defense ETF

FLDZCboeTrueSharesB

$26.57+0.22 (+0.83%)

At close: Nov 2, 2026, 4:00 PM ET

B62/ 100

Rank 4 of 26 in Defense & Aerospace

B62/100Rank 4 of 26inDefense & Aerospace
Intraday session: up, 73 prints from 26.35 to 26.57. Range 26.35 to 26.98. Use the arrow keys to read each point.26.5026.7026.8026.9027.0010 AM12 PM2 PM4 PM
Expense ratio
0.40%
Fund size
$7M
1Y total return
−6.8%
Yield · Last 12 months
1.67%
Holdings
66
Avg volume · 30D
125 sh
52W range
low $25.47high $34.15
Launched
Filings
SEC EDGAR

The ETF.net FLDZ Grade

B

Score 62 out of 100

Category
Defense & Aerospace⁠
Rank
4 of 26
Six-pillar profile for FLDZ. Scores out of 100: Cost 76, Risk 42, Mission 42, Tradability 36, Holdings 92, Durability 62. Strongest: Holdings (92). Weakest: Tradability (36). Leans toward Holdings.

Score 62 of 100 falls in the B 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.
    A76 out of 100
    Rank 7 of 26

  • Mission

    Whether the fund did what it promised, tested against its stated mandate.
    C42 out of 100
    Rank 4 of 4

  • Risk

    How the fund held up when markets fell: downside volatility, drawdowns and tail loss.
    C42 out of 100
    Rank 15 of 26

  • Tradability

    How easy the fund is to trade: daily volume, and how far its price strays from net asset value.
    D36 out of 100
    Rank 20 of 26

  • Holdings

    How concentrated the fund is, and how complete and current its disclosed holdings are.
    A92 out of 100
    Rank 1 of 26

  • Durability

    Whether the fund is likely to stay open, judged by its age, its assets and its issuer’s assets.
    B62 out of 100
    Rank 10 of 26

Our read on FLDZ

ETF.net Research

In short

BA defense-stock ETF with an unusual arrangement: the adviser's management fee, less fund expenses, goes to the Folds of Honor Foundation. Launched in 2021 as a patriot-themed core equity fund, it now runs an active, concentrated book of aerospace and defense names.

Stated mandate

The Fund seeks capital growth.

Why people hold it

  • The adviser's management fee, less fund operating expenses, goes to Folds of Honor, a charity funding scholarships for families of fallen or disabled service members and first responders.true-shares.comtrue-shares.com 2
  • Charges 0.40% a year, below the median for its actively managed US stock peers. The charitable angle does not arrive with a premium price tag attached.
  • The mandate is spelled out: at least 80% of net assets in aerospace and defense companies as classified by GICS, with a policy of concentrating in that industry. No guessing what you own.sec.gov

Worth knowing

  • The strategy was rewritten in 2026 from broad US-economy equities to defense companies, so the fund's older track record reflects a different portfolio.sec.govsec.gov 2
  • Non-diversified and concentrated in one industry, so a single contract award or budget headline moves it more than it would a broad market fund.sec.gov
  • A small fund that trades thinly, so bid-ask spreads tend to run wider than on heavily traded ETFs. Limit orders matter more here.

FLDZ Holdings

Holdings pillarA92 out of 100Rank 1 of 26 in Defense & Aerospace
Asset class
Stocks
Holdings
66
Top-10 weight
19%
Largest holding
KRMN2.0%

Sectors

  • Industrials94.3%
  • Technology3.3%
  • Materials1.2%
  • Communication1.2%

Geography

  • United States84.05%
  • United Kingdom4.79%
  • Germany3.14%
  • France2.96%
  • Sweden1.79%
  • Italy1.66%
  • Netherlands1.61%
The fund’s holdings, weight-ordered — page 1 of 5.
#TickerCompanyWeight %SharesMarket valueHeld by ETFs
1KRMNKarman Holdings Inc2.01%3,318$133K122
2LMTLockheed Martin Corp1.99%206$131K417
3HIIHuntington Ingalls Industries1.93%401$127K233
4LHXL3Harris Technologies Inc1.91%454$126K315
5CDRECadre Holdings Inc1.88%4,084$124K69
6TXTTextron Inc1.85%1,427$122K259
7VVXV2X Inc1.80%1,480$119K113
8GDGeneral Dynamics Corp1.79%317$118K380
9SAABYSaab AB1.79%3,457$118K8
10NOCNorthrop Grumman Corp1.78%210$117K353
11HEIHEICO Corp1.73%355$114K183
12FTAIFTAI Aviation Ltd1.73%609$114K160
13RTXRtx Corporation1.71%565$113K412
14SAROStandardAero Inc1.71%4,817$113K124
15BAESYBAE Systems PLC1.71%1,021$113K18

Showing 1–15 of 66 holdings

FLDZ Performance

Launched Dec 30, 2021

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.Not enough history yet.
FLDZ$9,323
SPY tracks large US stocks. It provides market context, rather than representing this fund’s strategy, asset class or investment benchmark.$11,146
Oct 31, 2025 to Nov 2, 2026. FLDZ $9,323. SPY $11,146. Use the arrow keys to read each point.$9,000$10,000$11,000$12,000Oct 2025May 2026Nov 2026

Oct 31, 2025 – Nov 2, 2026

Returns run to the Nov 2, 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 FLDZ. Periods over one year show the average yearly return.
PeriodFLDZ
Year to date−8.1%
1 month−4.7%
3 months−11.1%
1 year−6.8%
3 yearsper year+8.1%
5 yearsFund is under 5 years oldper yearNo data
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 FLDZ
YearReturn barFLDZ
2026 YTD−8.1%
2025+6.6%
2024+16.0%
2023+12.2%
2022−12.0%

History from Jan 3, 2022

FLDZ in the news

FLDZ 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 Nov 2, 2026.
1.67%Last 12 months
Payout per share
$0.45Last 12 months
Last payment
$0.45 per share
Paid on
Shares bought on or after this date do not qualify for this distribution.
Frequency
Annual

Distribution history

2022–2026

One bar per payment. 4 payments from 2022 to 2026 YTD. Dec 29, 2022 $0.33; Dec 27, 2023 $0.33; Dec 27, 2024 $0.32; Dec 24, 2025 $0.45. Use the arrow keys to read each point.20222023202420252026YTD
Ex-datePay dateAmount per share
Dec 24, 2025Dec 26, 2025$0.45
Dec 27, 2024Dec 30, 2024$0.32
Dec 27, 2023Dec 29, 2023$0.33
Dec 29, 2022Jan 3, 2023$0.33

$10,000 in FLDZ 3 years ago paid $496 in dividends.

FLDZ Risk

Risk pillarC42 out of 100Rank 15 of 26 in Defense & Aerospace
How much the fund’s monthly returns vary, scaled to a year.
14.5%
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.
0.35
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.
−25.1%
57 months · trough Oct 2026
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.
0.77
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.

FLDZ Cost

Compare FLDZ and XAR

Overpaying vs XAR, tied cheapest in Defense & Aerospace

$964

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

  • FLDZ 0.40%

    $8,090

  • XAR 0.35% Tied cheapest

    $7,126

$10,000
30 years

Cost over time

  • FLDZ 0.40%
  • XAR 0.35%
  • Overpaying
One line per fund, from year 0 to year 30. Use the arrow keys to read each point.$0$2K$4K$6K$8K$10K051015202530FLDZ $8,090XAR $7,126

Year by year

YearFLDZXAROverpaying
10$723$634$89
20$2,793$2,454$339
30$8,090$7,126$964

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