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SNTH

GradeCNew York Stock Exchange Arca

MRP SynthEquity ETF

Floor Protected · SynthEquity · Inception 2025-03-10 · SEC filings

$29.86−0.26 (−0.86%)

As of Sep 23, 2026, 2:41 PM EDT

History starts Mar 10, 2025.
Intraday session: down, 22 prints from 30.12 to 29.86. Range 29.77 to 30.00. Use the arrow keys to read each point.$29.80$29.90$30.0010 AM12 PM2 PM4 PM
Expense ratio
0.95%
Fund size
$257M
1Y return
+11.1%
Yield · Last 12 months
Data unavailable
Volume · 30D
0.1M sh
NAV per share
$30.11
52W range
low $25.75high $34.95

The ETF.net SNTH Grade

C

42/ 100

Rank 16 of 24 in Other Floor Protected⁠

Confidence Medium

Six-pillar profile for SNTH. Scores out of 100: Cost 9, Risk 46, Mission 88, Tradability 100, Holdings not scored, Durability 64. Strongest: Tradability (100). Weakest: Cost (9). Based on 5 of 6 pillars.
F< 25
D≥ 25
C≥ 40
B≥ 55
A≥ 70

Score 42 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.
    FScore 9
    Category rank22/24 · bottom quartile

  • Mission

    How faithfully it does the job it claims — tracking its mandate or index with minimal slippage.
    AScore 88
    Category rank2/2 · bottom quartile

  • Risk

    How violently it can move — volatility, drawdown depth, and downside capture versus its category.
    CScore 46
    Category rank12/23 · mid-pack

  • Tradability

    How cheaply and easily you can get in and out — liquidity, spread, and premium/discount stability.
    AScore 100
    Category rank1/24 · top 4%

  • Holdings

    What it actually owns — the quality, breadth, and concentration of the underlying portfolio.
    Not scored
    —

  • Durability

    Whether it will still be here — the fund’s assets, age, flows, and issuer staying power.
    BScore 64
    Category rank7/24 · top 29%

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

Our read on SNTH

ETF.net Research

CSNTH doesn't buy the S&P 500, it rents it: a U.S. Treasury base with S&P 500 index options layered on top for synthetic equity exposure, actively managed, with mitigating losses written into the objective.

Stated mandate

The Fund seeks long-term capital appreciation through an actively managed combination of options on the S&P 500 Index and U.S. Treasuries. The strategy is designed to provide synthetic equity exposure while mitigating losses.

Why people hold it

  1. 01The build is easy to picture: U.S. Treasuries as the ballast, options on the S&P 500 for the equity exposure. One sentence of the objective tells you what's under the hood.
  2. 02It runs the mandate it advertises: U.S. focus, S&P 500 options plus Treasuries, actively managed, and the portfolio has stayed on that script.
  3. 03Trading is a strength: among the smoother names in its floor-fund peer group to get into and out of, which matters for an options-driven strategy.
  4. 04Standard 1940 Act fund wrapper paying quarterly distributions, so shareholders get a 1099 rather than partnership paperwork.

Worth knowing

  1. 01At 0.95% it sits above the 0.89% cohort median and well above the 0.69% on the Calamos structured-protection series (CPRY, CPRJ, CPRO).
  2. 02Loss mitigation here is a manager objective, not a fixed buffer percentage on a dated outcome period like the calendar-series peers (FLJJ, CPRJ).
  3. 03It launched in 2025, so the live record is short and the risk read is thin. Overall standing in the floor cohort currently sits in the lower half.

SNTH Holdings

As of Sep 20, 2026, 10:18 AM
Asset class
Stocks
Holdings
—
Top-10 weight
100%
Largest holding
United States Treasury Note/Bond 4.25% 03/15/202721.8%
The fund’s holdings, weight-ordered — page 1 of 1.
#TickerCompanyWeight %SharesMarket valueIn ETFs
001—United States Treasury Note/Bond 4.25% 03/15/202721.84%55,268,000$55M7
002—United States Treasury Note/Bond 3.375% 09/15/202721.84%55,877,000$55M12
003—United States Treasury Note/Bond 3.75% 06/30/202721.78%55,422,000$55M10
004—United States Treasury Note/Bond 4.375% 12/15/202621.73%54,979,000$55M7
005—SPY 08/04/2027 750 C9.57%3,461$24M1
006—SPXW US 12/31/26 C40001.61%11$4M1
007—SPY 08/04/2027 890 C1.19%3,461$3M1
008—Cash & Other0.66%1,673,263$2M674
009—First American Government Obligations Fund 12/01/20310.10%244,430$244K625
010—SPXW US 12/31/26 P70000.03%11$77K1
011—SPY 08/04/2027 800 C<0.01%2$8K1

Showing 1–11 of 11 holdings

SNTH Performance

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

SNTH$11,106
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. SNTH $11,106. SPY $11,723. Use the arrow keys to read each point.$9,294$10,619$11,944Sep 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 SNTH. Periods over one year show the average yearly return.
PeriodSNTH
Year to date+9.7%
1 month+0.3%
3 months−0.5%
1 year+11.1%
3 yearsFund is under 3 years old—per year
5 yearsFund is under 5 years old—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 SNTH
YearReturn barSNTH
2026 YTD+9.7%
2025+23.4%

Since listing, Mar 10, 2025

SNTH in the news

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

SNTH 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.
Data unavailableLast 12 months
Payout per share
Data unavailableLast 12 months
Last payment
$0.13 per share
Paid on
Shares bought on or after this date do not qualify for this distribution.
Frequency
Quarterly

Distribution data unavailable.

Distribution history

2025–2026

One bar per payment. 3 payments from 2025 to 2026 YTD. Dec 23, 2025 $3.20; Mar 30, 2026 $0.12; Jun 29, 2026 $0.13. Use the arrow keys to read each point.20252026YTD
Ex-datePay dateAmount per share
Jun 29, 2026Jun 30, 2026$0.13
Mar 30, 2026Mar 31, 2026$0.12
Dec 23, 2025Dec 24, 2025$3.20

SNTH Risk

How much the fund’s monthly returns vary, scaled to a year.
13.1%
Annualised · 17 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.
1.50
vs 3-month T-bills · 17 months 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.
−9.8%
18 months · trough Apr 2025
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.
1.17
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.

SNTH Cost

Expense ratio0.95%
  • The middle half of Other Floor Protected funds
  • Median 0.79%

15 of the 18 Other Floor Protected funds charge less.

SNTH costs $95.00 a year on $10,000. The median Other Floor Protected fund costs $79.50.