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Launched · SEC filings

MRP SynthEquity ETF

SNTHNYSE ArcaD

$29.96+0.05 (+0.17%)

At close: Oct 13, 2026, 4:00 PM

D37/ 100

Rank 17 of 24 in Other Floor Protected

D37/100Rank 17 of 24inOther Floor Protected
Intraday session: up, 25 prints from 29.91 to 29.96. Range 29.84 to 30.05. Use the arrow keys to read each point.29.8530.0030.0510 AM12 PM2 PM4 PM
Expense ratio
0.95%
Fund size
$257M
1Y total return
+13.2%
Yield · Last 12 months
Data unavailable
Holdings
11
Avg volume · 30D
0.1M sh
NAV per share
$29.96
52W range
low $25.75high $34.95
Launched
Filings
SEC EDGAR

The ETF.net SNTH Grade

Based on 5 of 6 pillars

D

Score 37 out of 100

Category
Other Floor Protected⁠
Rank
17 of 24
Six-pillar profile for SNTH. Scores out of 100: Cost 9, Risk 47, Mission 86, Tradability 77, Holdings not scored, Durability 64. Strongest: Mission (86). Weakest: Cost (9). Based on 5 of 6 pillars.

Score 37 of 100 falls in the D band. A is 70 or higher, B 55 to under 70, C 40 to under 55, D 25 to under 40, F under 25.

  • Cost

    The fund’s net expense ratio, ranked against its category.
    F9 out of 100
    Rank 22 of 24

  • Mission

    Whether the fund did what it promised, tested against its stated mandate.
    A86 out of 100
    Rank 3 of 3

  • Risk

    How the fund held up when markets fell: downside volatility, drawdowns and tail loss.
    C47 out of 100
    Rank 12 of 24

  • Tradability

    How easy the fund is to trade: daily volume, and how far its price strays from net asset value.
    A77 out of 100
    Rank 2 of 24

  • Holdings

    How concentrated the fund is, and how complete and current its disclosed holdings are.
    Not scored

  • Durability

    Whether the fund is likely to stay open, judged by its age, its assets and its issuer’s assets.
    B64 out of 100
    Rank 7 of 24

Our read on SNTH

ETF.net Research

DSNTH 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 Oct 13, 2026
Asset class
Stocks
Holdings
11
Top-10 weight
100%
Largest holding
United States Treasury Note/Bond 3.375% 09/15/202721.5%
The fund’s holdings, weight-ordered — page 1 of 1.
#TickerCompanyWeight %SharesMarket valueIn ETFs
001—United States Treasury Note/Bond 3.375% 09/15/202721.53%55,912,000$55M10
002—United States Treasury Note/Bond 4.25% 03/15/202721.52%55,319,000$55M7
003—United States Treasury Note/Bond 3.75% 06/30/202721.36%55,161,000$55M9
004—United States Treasury Note/Bond 4.375% 12/15/202621.29%54,698,000$55M7
005—Spy 08/04/2027 750 C10.69%3,453$27M1
006—Spxw Us 12/31/26 C40001.64%11$4M1
007—Spy 08/04/2027 890 C1.47%3,453$4M1
008—Cash & Other0.66%1,701,562$2M672
009—First American Government Obligations Fund 12/01/20310.20%517,546$518K529
010—Spxw Us 12/31/26 P70000.02%11$47K1
011—Spy 08/04/2027 800 C<0.01%2$9K1

Showing 1–11 of 11 holdings

SNTH Performance

Launched Mar 10, 2025

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

Not enough history yet.Not enough history yet.Not enough history yet.
SNTH$11,323
SPY tracks large US stocks. It provides market context, rather than representing this fund’s strategy, asset class or investment benchmark.$12,044
Oct 10, 2025 to Oct 12, 2026. SNTH $11,323. SPY $12,044. Use the arrow keys to read each point.$9,511$10,879$12,248Oct 2025Apr 2026Oct 2026

Oct 10, 2025 – Oct 12, 2026

Returns run to the Oct 12, 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+9.6%
1 month+1.2%
3 months+0.2%
1 year+13.2%
3 yearsFund is under 3 years oldper year—
5 yearsFund is under 5 years oldper year—
10 yearsFund is under 10 years oldper 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+9.6%
2025+23.4%

Since listing, Mar 10, 2025

SNTH in the news

No ETF.net Research article names SNTH yet.

SNTH Dividends

Last payment
$0.17 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. 4 payments from 2025 to 2026 YTD. Dec 23, 2025 $3.20; Mar 30, 2026 $0.12; Jun 29, 2026 $0.13; Sep 29, 2026 $0.17. Use the arrow keys to read each point.20252026YTD
Ex-datePay dateAmount per share
Sep 29, 2026Sep 30, 2026$0.17
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.
13.0%
Annualised · 18 months to Sep 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.
1.36
vs 3-month T-bills · 18 months to Sep 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%
19 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.

Other funds in Other Floor Protected

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