---
ticker: "NOVZ"
name: "TrueShares Structured Outcome (November) ETF"
url: "https://etf.net/etf/NOVZ"
grade: "D"
score: 39
graded_at: "2026-10-12"
category: "S&P 500 Buffer 9-12%"
category_rank: "63 of 77"
methodology: "https://etf.net/methodology"
---

# NOVZ: TrueShares Structured Outcome (November) ETF

Grade **D**, Score 39 of 100. Rank 63 of 77 in S&P 500 Buffer 9-12%.

Graded Oct 12, 2026.

## Grade pillars

| Pillar | Score | Category rank |
| --- | --- | --- |
| Cost | 40 | 34 of 77 |
| Mission | Not scored | — |
| Risk | 31 | 63 of 76 |
| Tradability | 46 | 43 of 77 |
| Holdings | Not scored | — |
| Durability | 44 | 50 of 77 |

## Top holdings

The fund holds 17 positions. These are the largest 17, by weight.

| # | Ticker | Name | Weight |
| --- | --- | --- | --- |
| 1 | — | Treasury Bill B 10/29/26 | 91.63% |
| 2 | — | SPY 10/30/26 C682.09 Euro Cash Flex | 4.43% |
| 3 | — | SPY 10/30/26 C717.00 Euro Cash Flex | 1.00% |
| 4 | — | SPY 10/30/26 C719.00 Euro Cash Flex | 0.97% |
| 5 | — | SPY 10/30/26 C682.07 Euro Cash Flex | 0.63% |
| 6 | — | SPY 10/30/26 C756.01 Euro Cash Flex | 0.27% |
| 7 | — | SPY 10/30/26 C697.01 Euro Cash Flex | 0.24% |
| 8 | — | SPY 10/30/26 C690.01 Euro Cash Flex | 0.24% |
| 9 | — | SPY 10/30/26 C739.00 Euro Cash Flex | 0.18% |
| 10 | — | SPY 10/30/26 C758.01 Euro Cash Flex | 0.11% |
| 11 | — | State Street Inst U.s. Government Mmkt Admn Class | 0.08% |
| 12 | — | SPY 10/30/26 C772.01 Euro Cash Flex | 0.08% |
| 13 | — | SPY 10/30/26 C710.00 Euro Cash Flex | 0.06% |
| 14 | — | SPY 10/30/26 C693.00 Euro Cash Flex | 0.05% |
| 15 | — | SPY 10/30/26 C700.00 Euro Cash Flex | 0.04% |
| 16 | — | Broker Sweep | 0.02% |
| 17 | — | SPY 10/30/26 C714.00 Euro Cash Flex | 0.02% |

Source: etf.net, https://etf.net/etf/NOVZ. Please cite the page URL.