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Launched · SEC filings

TrueShares Structured Outcome (May) ETF

MAYZCboeD

$37.16−0.01 (−0.01%)

As of Oct 13, 2026, 3:59 PM

D33/ 100

Rank 72 of 77 in S&P 500 Buffer 9-12%

D33/100Rank 72 of 77inS&P 500 Buffer 9-12%
Intraday session: down, 71 prints from 37.17 to 37.16. Range 37.09 to 37.23. Use the arrow keys to read each point.37.1037.1337.2037.2310 AM12 PM2 PM4 PM
Expense ratio
0.79%
Fund size
$34M
1Y total return
+14.9%
Yield · Last 12 months
1.94%
Holdings
11
Avg volume · 30D
0M sh
NAV per share
$37.19
52W range
low $31.04high $37.31
Launched
Filings
SEC EDGAR

The ETF.net MAYZ Grade

Based on 4 of 6 pillars

D

Score 33 out of 100

Category
S&P 500 Buffer 9-12%⁠
Rank
72 of 77
Six-pillar profile for MAYZ. Scores out of 100: Cost 40, Risk 24, Mission not scored, Tradability 26, Holdings not scored, Durability 41. Strongest: Durability (41). Weakest: Risk (24). Based on 4 of 6 pillars.

Score 33 of 100 falls in the D 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 76

  • Tradability

    How easy the fund is to trade: daily volume, and how far its price strays from net asset value.
    D26 out of 100
    Rank 65 of 77

  • Holdings

    How concentrated the fund is, and how complete and current its disclosed holdings are.
    Not scored

  • Durability

    Whether the fund is likely to stay open, judged by its age, its assets and its issuer’s assets.
    C41 out of 100
    Rank 56 of 77

Our read on MAYZ

ETF.net Research

DA May-reset buffer fund with a twist: it aims to cushion the first 8% to 12% of S&P 500 price-index losses over each 12-month period, and its terms set no ceiling on the upside.

Stated mandate

The fund seeks to track the S&P 500 Price Return Index before fees while buffering the first 8% to 12% of index losses over a 12-month period. It uses an options-based buffer-protect strategy.

Why people hold it

  1. 01The options-based buffer-protect design targets the first 8% to 12% of S&P 500 price-index losses over a 12-month stretch, with no stated upside cap in its buffer terms.
  2. 02The outcome period resets each May 1 and runs a full year, so the calendar is known in advance rather than improvised.
  3. 03Built as a 1940 Act ETF holding index options, not a bank-issued structured note, so the wrapper carries no single-issuer credit risk.
  4. 04At 0.79%, the fee sits level with the best-known dated buffer funds, including Innovator's May-series fund (PMAY).

Worth knowing

  1. 01The buffer is a range, not a fixed line, and it is measured across the whole outcome period. Entering mid-period changes both the remaining cushion and the return path.
  2. 02Cheaper paths to buffered S&P 500 exposure exist, including laddered rivals PSFF (0.10%) and BUFP (0.50%).
  3. 03A small fund that trades lightly, so bid-ask spreads can run wider than in the largest buffer ETFs.

MAYZ Holdings

As of Oct 13, 2026
Asset class
Stocks
Holdings
11
Top-10 weight
101%
Largest holding
Treasury Bill B 04/15/2791.2%

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%
The fund’s holdings, weight-ordered — page 1 of 1.
#TickerCompanyWeight %SharesMarket valueIn ETFs
001—Treasury Bill B 04/15/2791.23%31,555,600$31M12
002—SPY 04/30/27 C718.66 Euro Cash Flex6.19%234$2M1
003—SPY 04/30/27 C717.00 Euro Cash Flex1.69%63$573K1
004—SPY 04/30/27 C739.00 Euro Cash Flex0.86%40$292K1
005—SPY 04/30/27 C756.00 Euro Cash Flex0.36%20$120K1
006—SPY 04/30/27 C779.00 Euro Cash Flex0.27%21$93K1
007—Broker Sweep0.14%47,514$48K14
008—SPY 04/30/27 C755.00 Euro Cash Flex0.13%7$43K1
009—State Street Inst U.s. Government Mmkt Admn Class0.09%30,782$31K23
010—SPY 04/30/27 C734.00 Euro Cash Flex0.07%3$23K1
011—SPY 04/30/27 C725.00 Euro Cash Flex0.05%2$17K1

Showing 1–11 of 11 holdings

MAYZ Performance

Launched Apr 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.
MAYZ$11,486
SPY tracks large US stocks. It provides market context, rather than representing this fund’s strategy, asset class or investment benchmark.$12,044
Oct 10, 2025 to Oct 12, 2026. MAYZ $11,486. SPY $12,044. Use the arrow keys to read each point.$9,441$10,847$12,253Oct 2025Apr 2026Oct 2026

Oct 10, 2025 – Oct 12, 2026

Returns run to the Oct 12, 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 MAYZ. Periods over one year show the average yearly return.
PeriodMAYZ
Year to date+11.0%
1 month+1.4%
3 months+2.1%
1 year+14.9%
3 yearsper year+16.8%
5 yearsper year+9.6%
10 yearsFund is under 10 years oldper 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 MAYZ
YearReturn barMAYZ
2026 YTD+11.0%
2025+13.7%
2024+17.7%
2023+15.9%
2022−14.0%
2021+10.1%

History from May 3, 2021

MAYZ in the news

Filtered to MAYZ · S&P 500 Buffer 9-12%

MAYZ 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 12, 2026.
1.94%Last 12 months
Payout per share
$0.72Last 12 months
Last payment
$0.72 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 $0.51; Dec 29, 2022 $0.16; Dec 27, 2023 $0.72; Dec 27, 2024 $0.59; Dec 24, 2025 $0.72. Use the arrow keys to read each point.202120222023202420252026YTD
Ex-datePay dateAmount per share
Dec 24, 2025Dec 26, 2025$0.72
Dec 27, 2024Dec 30, 2024$0.59
Dec 27, 2023Dec 29, 2023$0.72
Dec 29, 2022Jan 3, 2023$0.16
Dec 29, 2021Dec 31, 2021$0.51

MAYZ Risk

How much the fund’s monthly returns vary, scaled to a year.
10.2%
Annualised · 36 months to Sep 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.
1.13
vs 3-month T-bills · to Sep 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.
−19.3%
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.
0.81
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.

MAYZ 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.

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

Other funds in S&P 500 Buffer 9-12%

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