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TSRS

GradeFNew York Stock Exchange Arca

Truth Social American Red State REITs ETF

Sectors · Truth Social · Inception 2025-12-30

$25.23+0.00 (+0.00%)

As of Sep 23, 2026, 9:46 AM EDT

Market opens at 9:30 AM ET.History starts Dec 30, 2025.History starts Dec 30, 2025.
Intraday session: down, 10 prints from 25.49 to 25.23. Range 25.23 to 25.50. Use the arrow keys to read each point.$25.30$25.40$25.50Sep 17Sep 18Sep 21Sep 22Sep 23
Expense ratio
0.65%
Fund size
$3M
1Y return
—
Yield · Last 12 months
Data unavailable
Holdings
27
Volume · 30D
0M sh
NAV per share
$25.32
52W range
low $24.76high $29.00

The ETF.net TSRS Grade

F

13/ 100

Rank 20 of 22 in US Real Estate⁠

Confidence Medium

Six-pillar profile for TSRS. Scores out of 100: Cost 0, Risk 32, Mission not scored, Tradability 10, Holdings 30, Durability 24. Strongest: Risk (32). Weakest: Cost (0). Based on 5 of 6 pillars.
F< 25
D≥ 25
C≥ 40
B≥ 55
A≥ 70

Score 13 of 100 sits in the F band. Bands: A ≥ 70, B ≥ 55, C ≥ 40, D ≥ 25, F < 25; the scale skips E. A structural cap ceilings this fund at 40, so B and A are out of reach.

Ceiling 40 · B and A out of reach

The pillars earned14This cap took−0Published score13 Grade F

  • Cost

    What you pay to own it — the expense ratio plus trading frictions, ranked within its category.
    FScore 0
    Category rank22/22 · bottom quartile

  • 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.
    DScore 32
    Category rank20/21 · bottom quartile

  • Tradability

    How cheaply and easily you can get in and out — liquidity, spread, and premium/discount stability.
    FScore 10
    Category rank22/22 · bottom quartile

  • Holdings

    What it actually owns — the quality, breadth, and concentration of the underlying portfolio.
    DScore 30
    Category rank21/22 · bottom quartile

  • Durability

    Whether it will still be here — the fund’s assets, age, flows, and issuer staying power.
    FScore 24
    Category rank19/22 · bottom quartile

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

Our read on TSRS

ETF.net Research

FMost REIT funds sort landlords by property type. This one sorts by politics, tracking a MarketVector index built on a red-state theme. Plain passive plumbing wrapped around a very unplain idea.

Stated mandate

The Fund seeks to deliver returns that generally correspond to the price and yield performance of the MarketVectorTM–iREIT® Red State REITs Index.

Why people hold it

  1. 01The idea is the product: a rules-based index of US real estate stocks built on a red-state theme, delivered in one ticket instead of assembled name by name.
  2. 02Boring machinery under a loud label: a registered 1940 Act fund that replicates a published index rather than following a manager's hunches.
  3. 03Exposure stays home and stays simple. US equity real estate, tracking an index measured on price and yield, not foreign property or mortgage paper.

Worth knowing

  1. 01At 0.65% a year, the fee sits well above the real estate category median, and the broad heavyweights (SCHH, VNQ, USRT) charge a small fraction of it.
  2. 02Small and thinly traded, with a track record that only starts at the end of 2025. Wider spreads come with that territory, so limit orders earn their keep.
  3. 03The political screen narrows the field, so results can drift from the broad US REIT market in either direction. Payouts have come irregularly, not on a set calendar.

TSRS Holdings

As of Sep 20, 2026, 9:03 AM
Asset class
Stocks
Holdings
27
Top-10 weight
61%
Largest holding
BNL7.5%

Geography

  • United States100.00%
The fund’s holdings, weight-ordered — page 1 of 2.
#TickerCompanyWeight %SharesMarket valueIn ETFs
001BNLBroadstone Net Lease Inc7.55%9,932$191K126
002—U.S. Bank Money Market Deposit Account 06/01/20317.40%187,011$187K100
003FCPTFour Corners Property Trust Inc7.34%8,196$185K115
004VICIVICI Properties Inc7.26%7,740$184K281
005NNNNNN REIT Inc6.94%4,224$176K160
006ORealty Income Corp6.57%2,932$166K281
007NHINational Health Investors Inc5.47%2,040$138K118
008UMHUMH Properties Inc4.67%7,517$118K80
009MAAMid-America Apartment Communities Inc4.16%885$105K233
010LAMRLamar Advertising Co3.69%642$93K166
011KRGKite Realty Group Trust3.45%3,427$87K127
012INVHInvitation Homes Inc3.28%3,077$83K237
013IRTIndependence Realty Trust Inc3.21%5,493$81K112
014NTSTNETSTREIT Corp3.18%4,422$80K99
015ADCAgree Realty Corp3.13%1,163$79K141

Showing 1–15 of 27 holdings

TSRS Performance

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

TSRS$10,372
SPY tracks large US stocks. It provides market context, rather than representing this fund’s strategy, asset class or investment benchmark.$11,430
Dec 31, 2025 to Sep 22, 2026. TSRS $10,372. SPY $11,430. Use the arrow keys to read each point.$9,101$10,492$11,883Dec 2025May 2026Sep 2026

Dec 31, 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 TSRS. Periods over one year show the average yearly return.
PeriodTSRS
Year to date+3.7%
1 month−7.0%
3 months−4.3%
1 yearFund is under 1 year old—
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 TSRS
YearReturn barTSRS
2026 YTD+3.7%
2025−0.4%

Since listing, Dec 30, 2025

TSRS in the news

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

TSRS 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
$0.05 per share
Paid on
Shares bought on or after this date do not qualify for this distribution.
Frequency
Monthly

Distribution data unavailable.

Distribution history

2026

One bar per payment. 8 payments in 2026 YTD. Jan 28, 2026 $0.02; Feb 25, 2026 $0.04; Mar 25, 2026 $0.09; Apr 22, 2026 $0.15; May 27, 2026 $0.05; Jun 24, 2026 $0.07; Jul 22, 2026 $0.16; Aug 26, 2026 $0.05. Use the arrow keys to read each point.2026YTD
Ex-datePay dateAmount per share
Aug 26, 2026Aug 27, 2026$0.05
Jul 22, 2026Jul 23, 2026$0.16
Jun 24, 2026Jun 25, 2026$0.07
May 27, 2026May 28, 2026$0.05
Apr 22, 2026Apr 23, 2026$0.15
Mar 25, 2026Mar 26, 2026$0.09
Feb 25, 2026Feb 26, 2026$0.04
Jan 28, 2026Jan 29, 2026$0.02

TSRS Risk

How much the fund’s monthly returns vary, scaled to a year.
—
Launched Dec 2025; fills in after 12 months
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.
—
Launched Dec 2025; fills in after 12 months
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.
—
Launched Dec 2025; fills in after 12 months
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.
0.53
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.

TSRS Cost

Expense ratio0.65%
  • The middle half of US Real Estate funds
  • Median 0.35%

Every other US Real Estate fund charges less.

TSRS costs $65.00 a year on $10,000. The median US Real Estate fund costs $35.00.