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OCTZ

GradeCChicago Board Options Exchange

TrueShares Structured Outcome (October) ETF

Buffered · TrueShares · Inception 2020-09-30

$46.60−0.33 (−0.70%)

As of Sep 23, 2026, 2:20 PM EDT

Intraday session: down, 59 prints from 46.93 to 46.60. Range 46.55 to 46.86. Use the arrow keys to read each point.$46.70$46.8010 AM12 PM2 PM4 PM
Expense ratio
0.79%
Fund size
$43M
1Y return
+12.2%
Yield · Last 12 months
3.62%
Holdings
22
Volume · 30D
0M sh
NAV per share
$46.91
52W range
low $40.24high $47.20

The ETF.net OCTZ Grade

C

45/ 100

Rank 44 of 77 in S&P 500 Buffer 9-12%⁠

Confidence Medium

Six-pillar profile for OCTZ. Scores out of 100: Cost 40, Risk 23, Mission not scored, Tradability 43, Holdings 100, Durability 41. Strongest: Holdings (100). Weakest: Risk (23). Based on 5 of 6 pillars.
F< 25
D≥ 25
C≥ 40
B≥ 55
A≥ 70

Score 45 of 100 sits in the C 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 rank56/77 · 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 rank70/73 · bottom quartile

  • Tradability

    How cheaply and easily you can get in and out — liquidity, spread, and premium/discount stability.
    CScore 43
    Category rank45/77 · mid-pack

  • Holdings

    What it actually owns — the quality, breadth, and concentration of the underlying portfolio.
    AScore 100
    Category rank2/42 · top 5%

  • Durability

    Whether it will still be here — the fund’s assets, age, flows, and issuer staying power.
    CScore 41
    Category rank58/77 · bottom quartile

Graded as of Sep 22, 2026 · Based on 5 of 6 pillars

Our read on OCTZ

ETF.net Research

CMost buffer ETFs trade away your upside for downside protection. OCTZ skips the hard cap: it targets a 10% cushion against S&P 500 price losses over a 12-month October-to-October period, and leaves the upside open.

Stated mandate

The fund seeks to track the S&P 500 Price Return Index before fees and expenses while protecting the first 8% to 12% of index losses over a twelve-month period.

Why people hold it

  1. 01No hard cap. It buffers the first 8% to 12% of S&P 500 price index losses per period (10% target) while leaving upside open, the design TrueShares built its lineup on.true-shares.com
  2. 02Fixed calendar: each outcome period runs October 1 to September 30, then resets, so the buffer's start and end dates are known up front.true-shares.com
  3. 03October is one of several monthly-dated siblings on the same index (JANZ, MAYZ, NOVZ, DECZ), so the entry month can be picked or laddered across the year.
  4. 04Trading since 2020, one of the longer-running uncapped buffer funds on the S&P 500 price index.true-shares.com

Worth knowing

  1. 01The buffer is a full-period outcome: buy mid-period and your cushion and starting level differ. Past the buffer, losses follow the index one for one.sec.gov
  2. 02The options reference the S&P 500 price index, so shareholders forgo the index's dividends.sec.gov
  3. 03Small and thinly traded, so spreads can run wider than at the largest buffer funds; 0.79% is the peer median but above laddered options like PSFF (0.10%).

OCTZ Holdings

As of Sep 20, 2026, 6:45 AM
Asset class
Stocks
Holdings
22
Top-10 weight
100%
Largest holding
TREASURY BILL B 09/02/2788.8%

Sectors

  • Technology37.9%
  • Financials11.7%
  • Communication10.0%
  • Consumer Discr.9.6%
  • Health Care9.1%
  • Industrials8.4%
  • Cons. Staples4.6%
  • Energy3.0%
  • Utilities2.3%
  • Real Estate1.9%
  • Materials1.7%
The fund’s holdings, weight-ordered — page 1 of 2.
#TickerCompanyWeight %SharesMarket valueIn ETFs
001—TREASURY BILL B 09/02/2788.84%39,390,000$38M11
002—SPY 09/30/26 C666.21 Euro Cash Flex5.61%248$2M1
003—SPY 09/30/26 C670.01 Euro Cash Flex2.02%93$860K1
004—SPY 09/30/26 C671.02 Euro Cash Flex1.87%87$796K1
005—SPY 09/30/26 C689.01 Euro Cash Flex0.26%15$110K1
006—SPY 09/30/26 C696.01 Euro Cash Flex0.23%15$100K1
007—SPY 09/30/26 C665.00 Euro Cash Flex0.23%10$98K1
008—SPY 09/30/26 C679.00 Euro Cash Flex0.20%10$84K1
009—SPY 09/30/26 C700.00 Euro Cash Flex0.18%12$75K1
010—BROKER SWEEP0.13%53,280$53K14
011—SPY 09/30/26 C710.00 Euro Cash Flex0.11%9$47K1
012—STATE STREET INST U.S. GOVERNMENT MMKT ADMN CLASS0.10%41,834$42K23
013—SPY 09/30/26 C683.00 Euro Cash Flex0.09%5$40K1
014—SPY 09/30/26 C697.00 Euro Cash Flex0.08%5$33K1
015—SPY 09/30/26 C714.00 Euro Cash Flex0.03%3$15K1

Showing 1–15 of 18 holdings

OCTZ Performance

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

OCTZ$11,216
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. OCTZ $11,216. 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 OCTZ. Periods over one year show the average yearly return.
PeriodOCTZ
Year to date+10.2%
1 month+0.8%
3 months+2.9%
1 year+12.2%
3 years+16.8%per year
5 years+10.7%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 OCTZ
YearReturn barOCTZ
2026 YTD+10.2%
2025+12.9%
2024+18.9%
2023+18.2%
2022−10.3%
2021+20.5%
2020+8.5%

History from Oct 1, 2020

OCTZ in the news

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

OCTZ 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.
3.62%Last 12 months
Payout per share
$1.70Last 12 months
Last payment
$1.70 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 $0.20; Dec 27, 2023 $1.09; Dec 27, 2024 $0.49; Dec 24, 2025 $1.70. Use the arrow keys to read each point.20222023202420252026YTD
Ex-datePay dateAmount per share
Dec 24, 2025Dec 26, 2025$1.70
Dec 27, 2024Dec 30, 2024$0.49
Dec 27, 2023Dec 29, 2023$1.09
Dec 29, 2022Jan 3, 2023$0.20

OCTZ 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.
1.03
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.
−15.8%
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.
0.72
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.

OCTZ 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.

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