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MRSK

GradeDNew York Stock Exchange Arca

Toews Agility Shares Managed Risk ETF

Option Income · Toews · Inception 2020-06-25 · SEC filings

$39.69−0.24 (−0.61%)

As of Sep 23, 2026, 1:54 PM EDT

Intraday session: down, 6 prints from 39.93 to 39.69. Range 39.69 to 39.93. Use the arrow keys to read each point.$39.80$39.9010 AM12 PM2 PM4 PM
Expense ratio
0.98%
Fund size
$326M
1Y return
+12.3%
Yield · Last 12 months
0.34%
Holdings
5
Volume · 30D
0M sh
NAV per share
$39.84
52W range
low $34.50high $41.71

The ETF.net MRSK Grade

D

26/ 100

Rank 51 of 52 in S&P 500 Option Income⁠

Confidence Medium

Six-pillar profile for MRSK. Scores out of 100: Cost 9, Risk 39, Mission 10, Tradability 60, Holdings 31, Durability 64. Strongest: Durability (64). Weakest: Cost (9). Leans toward Durability and Tradability.
F< 25
D≥ 25
C≥ 40
B≥ 55
A≥ 70

Score 26 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.
    FScore 9
    Category rank46/52 · bottom quartile

  • Mission

    How faithfully it does the job it claims — tracking its mandate or index with minimal slippage.
    FScore 10
    Category rank34/34 · bottom quartile

  • Risk

    How violently it can move — volatility, drawdown depth, and downside capture versus its category.
    DScore 39
    Category rank36/52 · mid-pack

  • Tradability

    How cheaply and easily you can get in and out — liquidity, spread, and premium/discount stability.
    BScore 60
    Category rank15/52 · top 29%

  • Holdings

    What it actually owns — the quality, breadth, and concentration of the underlying portfolio.
    DScore 31
    Category rank41/41 · bottom quartile

  • Durability

    Whether it will still be here — the fund’s assets, age, flows, and issuer staying power.
    BScore 64
    Category rank18/52 · top 35%

Graded as of Sep 22, 2026

Our read on MRSK

ETF.net Research

DMost options-income funds just sell calls on stocks. MRSK runs two engines: S&P 500 exposure plus options on one side, Treasuries and Treasury futures on the other, chasing income and growth while trying to limit the damage.

Stated mandate

The Fund seeks income and long-term capital growth while limiting risk. It combines an equity-market strategy using S&P 500 exposure and options with a fixed-income strategy using U.S. Treasury securities and related futures.

Why people hold it

  1. 01Two sleeves, one ticker: an S&P 500 equity-and-options book paired with U.S. Treasuries and Treasury futures, aimed at income and long-term growth while limiting risk.
  2. 02Live since 2020, so there's a multi-year record across real market stress to examine, not a backtest.
  3. 03Actively run with the S&P 500 as its reference point, so the manager sets the stock, options and bond mix instead of following a fixed overlay rule.

Worth knowing

  1. 01At 0.98%, it costs more than the typical fund in its options-income group, and more than same-benchmark peers such as NBOS (0.59%) and SIXH (0.73%).
  2. 02Thinly traded next to the category's heavyweights, so spreads can be wider and larger orders need more care at the point of execution.
  3. 03Distributions land annually or semiannually rather than monthly, so the cash flow is lumpier than in most income-focused peers.

MRSK Holdings

As of Sep 21, 2026, 4:15 AM
Asset class
Other
Holdings
5
Top-10 weight
101%
Largest holding
IVV87.1%

Sectors

Geography

The fund’s holdings, weight-ordered — page 1 of 1.
#TickerCompanyWeight %SharesMarket valueIn ETFs
001IVVISHARES-C S&P50087.09%366,350$280M54
002—BBH SWEEP VEHICLE6.64%21,351,351$21M51
003—S&P500 EMINI OPTN DEC27P4.76%875$15M1
004—US DOLLAR FUTURE2.74%8,818,160$9M9
005—S&P EMINI 3RD WK NOV26P (3EX6P 6400 INDEX)0.11%431$360K1
006—S&P EMINI 3RD WK OCT26P (3EV6P 6650 INDEX)0.04%422$122K1

Showing 1–6 of 6 holdings

MRSK Performance

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

MRSK$11,232
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. MRSK $11,232. 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 MRSK. Periods over one year show the average yearly return.
PeriodMRSK
Year to date+8.5%
1 month+1.1%
3 months+3.9%
1 year+12.3%
3 years+12.9%per year
5 years+7.9%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 MRSK
YearReturn barMRSK
2026 YTD+8.5%
2025+11.9%
2024+14.6%
2023+13.3%
2022−11.9%
2021+20.5%
2020+16.3%

Since listing, Jun 25, 2020

MRSK in the news

MRSK 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.
0.34%Last 12 months
Payout per share
$0.14Last 12 months
Last payment
$0.04 per share
Paid on
Shares bought on or after this date do not qualify for this distribution.
Frequency
Irregular

Distribution history

2020–2026

One bar per payment. 7 payments from 2020 to 2026 YTD. Dec 15, 2020 $1.20; Dec 15, 2021 $4.18; Dec 15, 2022 $0.29; Dec 13, 2023 $0.17; Dec 12, 2024 $0.15; Dec 12, 2025 $0.09; Dec 30, 2025 $0.04. Use the arrow keys to read each point.2020202120222023202420252026YTD
Ex-datePay dateAmount per share
Dec 30, 2025Jan 5, 2026$0.04
Dec 12, 2025Dec 17, 2025$0.09
Dec 12, 2024Dec 17, 2024$0.15
Dec 13, 2023Dec 18, 2023$0.17
Dec 15, 2022Dec 21, 2022$0.29
Dec 15, 2021Dec 21, 2021$4.18
Dec 15, 2020Dec 21, 2020$1.20

MRSK Risk

How much the fund’s monthly returns vary, scaled to a year.
9.9%
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.
0.63
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 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.
0.66
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.

MRSK Cost

Expense ratio0.98%
  • The middle half of S&P 500 Option Income funds
  • Median 0.60%

45 of the 51 S&P 500 Option Income funds charge less.

MRSK costs $98.00 a year on $10,000. The median S&P 500 Option Income fund costs $60.00.