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JULZ

GradeDChicago Board Options Exchange

Trueshares Structured Outcome (July) ETF

Buffered · TrueShares · Inception 2020-06-30 · SEC filings

$46.52−0.05 (−0.11%)

As of Sep 23, 2026, 2:05 PM EDT

Intraday session: down, 30 prints from 46.57 to 46.52. Range 46.40 to 46.52. Use the arrow keys to read each point.$46.40$46.45$46.5010 AM12 PM2 PM4 PM
Expense ratio
0.79%
Fund size
$39M
1Y return
+12.3%
Yield · Last 12 months
10.82%
Holdings
9
Volume · 30D
0M sh
NAV per share
$46.55
52W range
low $39.26high $47.61

The ETF.net JULZ Grade

D

37/ 100

Rank 64 of 77 in S&P 500 Buffer 9-12%⁠

Confidence Medium

Six-pillar profile for JULZ. Scores out of 100: Cost 40, Risk 23, Mission not scored, Tradability 43, Holdings not scored, Durability 48. Strongest: Durability (48). Weakest: Risk (23). Based on 4 of 6 pillars.
F< 25
D≥ 25
C≥ 40
B≥ 55
A≥ 70

Score 37 of 100 sits in the D 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.
    CScore 40
    Category rank51/77 · mid-pack

  • Mission

    How faithfully it does the job it claims — tracking its mandate or index with minimal slippage.
    Not scored
    —

  • Risk

    How violently it can move — volatility, drawdown depth, and downside capture versus its category.
    FScore 23
    Category rank66/73 · bottom quartile

  • Tradability

    How cheaply and easily you can get in and out — liquidity, spread, and premium/discount stability.
    CScore 43
    Category rank46/77 · mid-pack

  • Holdings

    What it actually owns — the quality, breadth, and concentration of the underlying portfolio.
    Not scored
    —

  • Durability

    Whether it will still be here — the fund’s assets, age, flows, and issuer staying power.
    CScore 48
    Category rank43/77 · mid-pack

Graded as of Sep 22, 2026 · Based on 4 of 6 pillars

Our read on JULZ

ETF.net Research

DThe buffer ETF that skips the ceiling. JULZ buffers the first 8% to 12% of a 12-month drop in the S&P 500 price index with no cap on the upside, the format TrueShares pioneered in 2020.

Stated mandate

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

Why people hold it

  1. 01Most buffer funds pay for downside cushion with an upside cap. This one doesn't: the buffer targets the first 8% to 12% of index losses each 12-month period, no ceiling attached.true-shares.com
  2. 02Running since 2020, from the shop that launched the uncapped buffer format. Sibling funds cover other start months (AUGZ, SEPZ, MARZ), so entry dates can be staggered across the year.true-shares.com
  3. 03Fee of 0.79% sits right at the going rate for shallow-buffer S&P 500 funds, and the outcome period resets on a fixed annual calendar each July 1.

Worth knowing

  1. 01Uncapped is not the same as full upside. Participation in index gains can land under 100%, and the reference is the S&P 500 price index, so dividends sit outside the math.true-shares.com
  2. 02The buffer is a targeted range (8% to 12%, aimed at 10%) measured over the full 12-month period, not a guarantee. Buy mid-period and your own cushion and exposure differ.true-shares.com
  3. 03Small fund, thin trading, so spreads can run wider than the biggest buffer names. Laddered buffer peers such as BUFB charge materially less.

JULZ Holdings

As of Sep 20, 2026, 6:44 AM
Asset class
Stocks
Holdings
9
Top-10 weight
102%
Largest holding
TREASURY BILL B 06/10/2794.7%

Sectors

The fund’s holdings, weight-ordered — page 1 of 1.
#TickerCompanyWeight %SharesMarket valueIn ETFs
001—TREASURY BILL B 06/10/2794.71%37,744,000$37M27
002—SPY 06/30/27 C746.77 Euro Cash Flex6.37%369$2M1
003—SPY 06/30/27 C747.00 Euro Cash Flex0.34%20$133K1
004—SPY 06/30/27 C772.01 Euro Cash Flex0.26%20$100K1
005—SPY 06/30/27 C752.00 Euro Cash Flex0.24%15$95K1
006—SPY 06/30/27 C774.00 Euro Cash Flex0.13%10$49K1
007—STATE STREET INST U.S. GOVERNMENT MMKT ADMN CLASS0.08%30,340$30K23
008—BROKER SWEEP0.06%23,588$24K14

Showing 1–8 of 8 holdings

JULZ Performance

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

JULZ$11,226
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. JULZ $11,226. SPY $11,723. Use the arrow keys to read each point.$9,281$10,613$11,945Sep 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 JULZ. Periods over one year show the average yearly return.
PeriodJULZ
Year to date+10.6%
1 month+0.9%
3 months+3.0%
1 year+12.3%
3 years+17.0%per year
5 years+11.0%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 JULZ
YearReturn barJULZ
2026 YTD+10.6%
2025+13.2%
2024+18.8%
2023+17.6%
2022−9.4%
2021+20.7%
2020+16.0%

History from Jul 2, 2020

JULZ in the news

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

JULZ 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.
10.82%Last 12 months
Payout per share
$5.04Last 12 months
Last payment
$5.04 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 $0.02; Dec 27, 2023 $1.30; Dec 27, 2024 $1.37; Dec 24, 2025 $5.04. Use the arrow keys to read each point.20222023202420252026YTD
Ex-datePay dateAmount per share
Dec 24, 2025Dec 26, 2025$5.04
Dec 27, 2024Dec 30, 2024$1.37
Dec 27, 2023Dec 29, 2023$1.30
Dec 29, 2022Jan 3, 2023$0.02

JULZ Risk

How much the fund’s monthly returns vary, scaled to a year.
10.4%
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.
1.01
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.
−14.7%
Trough Apr 2025
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.
0.80
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.

JULZ Cost

Expense ratio0.79%
  • The middle half of S&P 500 Buffer 9-12% funds
  • Median 0.79%

33 of the 77 S&P 500 Buffer 9-12% funds charge less.

JULZ costs $79.00 a year on $10,000. The median S&P 500 Buffer 9-12% fund costs $79.00.