---
ticker: "PAYM"
name: "TrueShares S&P Autocallable Defensive Income ETF"
url: "https://etf.net/etf/PAYM"
grade: "C"
score: 41
graded_at: "2026-10-12"
category: "Other Index Option Income"
category_rank: "16 of 24"
methodology: "https://etf.net/methodology"
---

# PAYM: TrueShares S&P Autocallable Defensive Income ETF

Grade **C**, Score 41 of 100. Rank 16 of 24 in Other Index Option Income.

Graded Oct 12, 2026.

## Grade pillars

| Pillar | Score | Category rank |
| --- | --- | --- |
| Cost | 48 | 12 of 24 |
| Mission | Not scored | — |
| Risk | 29 | 19 of 24 |
| Tradability | 36 | 19 of 24 |
| Holdings | Not scored | — |
| Durability | 57 | 14 of 24 |

## Top holdings

The fund holds 13 positions. These are the largest 13, by weight.

| # | Ticker | Name | Weight |
| --- | --- | --- | --- |
| 1 | — | Recv Us Large Cap Moderate Income Autocallable | 100.23% |
| 2 | — | Recv Tactical Put Participation Moderate Index | 99.82% |
| 3 | — | Treasury Bill B 09/02/27 | 50.51% |
| 4 | — | Treasury Bill B 10/27/26 | 39.90% |
| 5 | — | State Street Inst U.s. Government Mmkt Admn Class | 1.16% |
| 6 | — | SPY 12/31/26 P735.00 Euro Cash Flex | 0.38% |
| 7 | — | SPY 12/31/26 P725.00 Euro Cash Flex | 0.04% |
| 8 | — | Broker Sweep | 0.03% |
| 9 | — | SPY 12/31/26 P730.00 Euro Cash Flex | 0.02% |
| 10 | — | SPY 12/31/26 P740.00 Euro Cash Flex | 0.02% |
| 11 | — | SPY 12/31/26 P737.52 Euro Cash Flex | <0.01% |
| 12 | — | SPY 12/31/26 P727.78 Euro Cash Flex | <0.01% |
| 13 | — | SPY 11/20/26 P730.88 Euro Cash Flex | <0.01% |

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