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FLDZ

GradeBChicago Board Options Exchange

TrueShares Patriot Defense ETF

Themes · TrueShares · Inception 2021-12-30 · SEC filings

$28.70−0.22 (−0.76%)

As of Sep 23, 2026, 1:22 PM EDT

History starts Jan 3, 2022.
Intraday session: down, 3 prints from 28.92 to 28.70. Range 28.50 to 28.92. Use the arrow keys to read each point.$28.50$28.60$28.80$28.9010 AM12 PM2 PM4 PM
Expense ratio
0.40%
Fund size
$6M
1Y return
−0.9%
Yield · Last 12 months
1.54%
Holdings
62
Volume · 30D
0M sh
NAV per share
$29.01
52W range
low $28.13high $34.15

The ETF.net FLDZ Grade

B

63/ 100

Rank 4 of 26 in Defense & Aerospace⁠

Confidence High

Six-pillar profile for FLDZ. Scores out of 100: Cost 76, Risk 54, Mission 52, Tradability 30, Holdings 91, Durability 62. Strongest: Holdings (91). Weakest: Tradability (30). Leans toward Holdings.
F< 25
D≥ 25
C≥ 40
B≥ 55
A≥ 70

Score 63 of 100 sits in the B band. Bands: A ≥ 70, B ≥ 55, C ≥ 40, D ≥ 25, F < 25; the scale skips E.

  • Cost

    What you pay to own it — the expense ratio plus trading frictions, ranked within its category.
    AScore 76
    Category rank7/26 · top 27%

  • Mission

    How faithfully it does the job it claims — tracking its mandate or index with minimal slippage.
    CScore 52
    Category rank4/4 · bottom quartile

  • Risk

    How violently it can move — volatility, drawdown depth, and downside capture versus its category.
    CScore 54
    Category rank11/25 · top 44%

  • Tradability

    How cheaply and easily you can get in and out — liquidity, spread, and premium/discount stability.
    DScore 30
    Category rank19/26 · mid-pack

  • Holdings

    What it actually owns — the quality, breadth, and concentration of the underlying portfolio.
    AScore 91
    Category rank1/26 · top 4%

  • Durability

    Whether it will still be here — the fund’s assets, age, flows, and issuer staying power.
    BScore 62
    Category rank10/26 · top 38%

Graded as of Sep 22, 2026

Our read on FLDZ

ETF.net Research

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

  1. 01The 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. 02Charges 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.
  3. 03The 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

  1. 01The 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. 02Non-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
  3. 03A 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

As of Sep 20, 2026, 6:45 AM
Asset class
Stocks
Holdings
62
Top-10 weight
20%
Largest holding
PLTR2.5%

Sectors

  • Industrials94.8%
  • Technology4.0%
  • Materials1.3%

Geography

  • United States80.54%
  • Germany5.28%
  • United Kingdom3.73%
  • France3.62%
  • Sweden1.81%
  • Netherlands1.76%
  • Italy1.71%
  • Puerto Rico1.57%
The fund’s holdings, weight-ordered — page 1 of 5.
#TickerCompanyWeight %SharesMarket valueIn ETFs
001PLTRPalantir Technologies Inc2.45%862$153K503
002BETABeta Technologies Inc2.19%6,537$137K63
003NPKNational Presto Industries Inc2.10%883$131K95
004SPCEVirgin Galactic Holdings Inc2.07%42,081$129K44
005SATLSatellogic Inc1.93%23,633$121K52
006VOYGVoyager Technologies Inc1.92%3,341$120K72
007BAESYBAE Systems PLC1.91%1,103$120K14
008ACHRArcher Aviation Inc1.91%22,634$119K81
009AVAVAeroVironment Inc1.86%728$116K138
010THLLYThales SA1.84%2,109$115K5
011SAABYSaab AB1.84%3,741$115K5
012HAGHYHensoldt AG1.84%12,911$115K2
013LMTLockheed Martin Corp1.84%215$115K406
014RDWRedwire Corp1.83%10,621$114K81
015ATIATI Inc1.82%594$114K225

Showing 1–15 of 62 holdings

FLDZ Performance

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

FLDZ$9,908
SPY tracks large US stocks. It provides market context, rather than representing this fund’s strategy, asset class or investment benchmark.$11,723
Sep 22, 2025 to Sep 22, 2026. FLDZ $9,908. SPY $11,723. Use the arrow keys to read each point.$9,353$10,646$11,940Sep 2025Mar 2026Sep 2026

Sep 22, 2025 – Sep 22, 2026

Returns run to the Sep 22, 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+0.0%
1 month−9.1%
3 months−5.5%
1 year−0.9%
3 years+10.9%per year
5 yearsFund is under 5 years old—per year
10 yearsFund is under 10 years old—per year

As of the close, 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+0.0%
2025+6.6%
2024+16.0%
2023+12.2%
2022−12.0%

History from Jan 3, 2022

FLDZ in the news

ETF.net Research hasn’t filed on FLDZ yet — coverage lands here as it’s written.

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 Sep 22, 2026.
1.54%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

FLDZ Risk

How much the fund’s monthly returns vary, scaled to a year.
13.8%
Annualised · 36 months to Aug 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.
0.48
vs 3-month T-bills · to Aug 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.
−19.6%
56 months · trough Jun 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.
0.76
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.

FLDZ Cost

Expense ratio0.40%
  • The middle half of Defense & Aerospace funds
  • Median 0.50%

5 of the 25 Defense & Aerospace funds charge less.

FLDZ costs $40.00 a year on $10,000. The median Defense & Aerospace fund costs $50.00.