TrueShares Structured Outcome (February) ETFFEBZ

TrueSharesDefined OutcomeHedged Equity#198 of 318 by YTD

$39.62

−3.1% last session

+5.3% YTD

Data as of 11/5/20264:00 PM ET · End-of-day

Dividend-adjusted total return · S&P 500 uses VOO · Nov 4, 2025 – Nov 5, 2026FEBZS&P 500 · VOO

Returns	1D	1M	3M	YTD	1Y	3Y	5Y	MAX
Total return	−3.1%	−4.3%	−4.2%	+5.3%	+5.9%	+52.7%	+55.1%	+81.2%
Peer average	−2.4%	−3.8%	−3.5%	+4.0%	+4.9%	+51.4%	+49.5%	—
S&P 500 · VOO	−4.4%	−5.7%	−4.9%	+8.4%	+9.8%	+82.2%	+71.6%	—

Key Statistics

Open all fund facts →

AUM: $32M
Expense ratio: 0.79%
Distribution yield: 3.0%
NAV: $40.43
Volume: 9K
Avg. volume 30D: 1K
High today: $40.44
Low today: $39.61
Previous close: $40.89
52-week high: $41.58
52-week low: $35.58
Our risk indicator: 3/5

FEBZ in One Breath

FEBZ Among Hedged Equity ETFs

YTD

#1SIXHMeridian+14.7%$635M

#2RFLRInnovator+10.6%$96.7M

#3JUNZTrueShares+9.5%$29.9M

#4PHEQEaton Vance+7.0%$150M

#5HEGDSwan+6.7%$731M

#6KSPYKraneShares+6.2%$135M

#7MAYZTrueShares+6.0%$33.0M

#8JULZTrueShares+6.0%$38.3M

#16FEBZTrueShares+5.3%$31.9M

End-of-day Nov 5, 2026 · 29 Hedged equity ETFs by YTD

$10,000 in FEBZ

$10,000 in FEBZ became

$15,507

In the S&P 500 (VOO)

$17,156

Total return, dividends in · Oct 28, 2021 – Nov 5, 2026 · S&P 500 uses VOO

FEBZ’s Top Holdings

Today

TREASURY BILL Treasury Bill B 01/21/2792.4%SPY 01/29/274.0%SPY 01/29/271.4%SPY 01/29/27SPY 0SPY 0

TREASURY BILL Treasury Bill B 01/21/2792.4%SPY 0SPY 0SPY 0

Other

TrueShares FEBZ · 17 holdings · top 16 shown · tile size = share of the fund · as of Nov 5, 2026

What FEBZ Holds

Today

Technology37.9%

[…]

Financial Services11.7%

[…]

Communication Services10.0%

[…]

Consumer Cyclical9.6%

[…]

Healthcare9.1%

[…]

Industrials8.4%

[…]

Consumer Defensive4.6%

[…]

TrueShares FEBZ · share of the fund by sector · as of Nov 5, 2026

Treasury’s Share of FEBZ

Today

92.4%

$924 of every $1,000 in FEBZ is Treasury

Treasury held by FEBZ

$29.5M

TrueShares FEBZ · each square = $10 of $1,000 · as of Nov 5, 2026

FEBZ’s Share of Hedged Equity ETFs

Today

0.2%

of the $14.9B in 31 Hedged equity ETFs

FEBZ$31.9M0.2%

HELO$4.9B32.6%

BALT$3.3B22.0%

28 others$6.7B45.2%

Hedged equity ETF AUM · Nov 5, 2026

FEBZ Fee per $100 vs Peers

Today

$0.79a year
per $100

$79 a year on $10,000

HELO$0.50

FHEQ$0.52

BALT$0.69

FEBZ$0.79

HEGD$0.88

SFLR$0.89

Expense ratio · Hedged equity peers · Nov 5, 2026

Inside FEBZ

17 holdings · as of Nov 5, 2026

FEBZ

TrueShares Structured Outcome (February) ETF

Today

Technology37.9%Financial Services11.7%Communication Services10.0%Consumer Cyclical9.6%Healthcare9.1%Industrials8.4%Consumer Defensive4.6%Other100.3%Treasury BilTreasury Bill B 01/21/2792.4%

Technology37.9%Financial Services11.7%Communication Services10.0%Consumer Cyclical9.6%Healthcare9.1%Industrials8.4%Other100.3%Treasury BilTreasury Bill B 01/21/2792.4%

#	Ticker	Company	Weight ▼
1	—	Treasury Bill B 01/21/27	92.42%
2	—	SPY 01/29/27 C692.00 Euro Cash Flex	4.03%
3	—	SPY 01/29/27 C719.00 Euro Cash Flex	1.37%
4	—	SPY 01/29/27 C717.00 Euro Cash Flex	1.16%
5	—	SPY 01/29/27 C728.00 Euro Cash Flex	0.53%
6	—	SPY 01/29/27 C756.01 Euro Cash Flex	0.22%
7	—	SPY 01/29/27 C741.00 Euro Cash Flex	0.12%
8	—	SPY 01/29/27 C772.01 Euro Cash Flex	0.12%
9	—	Broker Sweep	0.10%
10	—	State Street Inst U.s. Government Mmkt Admn Class	0.09%

TechnologyFinancial ServicesCommunication ServicesConsumer CyclicalHealthcareIndustrialsConsumer DefensiveEnergyUtilitiesReal EstateBasic MaterialsOther

TrueShares FEBZ · current holdings by weight · as of Nov 5, 2026 · each tile is one holding

How It Compares

FEBZ

TrueShares Structured Outcome (February) ETF’s Peers

YTD


HELO	J.P. MorganRead Desk	0.50%	+2.5%	+4.3%	$4.9B
BALT	InnovatorRead Desk	0.69%	+3.6%	+5.3%	$3.3B
SFLR	InnovatorRead Desk	0.89%	+2.8%	+3.6%	$2.2B
FHEQ	FidelityRead Desk	0.52%	+6.0%	+6.3%	$986M
HEGD	SwanRead Desk	0.88%	+6.7%	+6.2%	$731M
FEBZ	TrueSharesThis fundRead Desk	0.79%	+5.3%	+5.9%	$32M

Hedged equity peers · YTD and past-year returns · as of Nov 6, 2026 · sorted by AUM

Head to Head

Put FEBZ head to head with HELO →

HELO vs FEBZ

YTD

HELOJ.P. Morgan · Hedged equityFEBZTrueShares · Hedged equity

Year to date

+2.5%

+5.3%

FEBZ wins+2.8 pts

Past year

+4.3%

+5.9%

FEBZ wins+1.6 pts

Fee

0.50%

0.79%

HELO winslower fee

Yield

0.6%

3.0%

FEBZ wins+2.5 pts

AUM

$4.9B

$31.9M

HELO152.0× more

3–1FEBZ wins

J.P. Morgan HELO and TrueShares FEBZ · year-to-date · as of Nov 6, 2026 · AUM not scored

FEBZ vs VOO

YTD

FEBZ · TrueShares Structured Outcome (February)

+5.3%

VOO · S&P 500

+8.4%

Gap

3.1 pts

TrueShares FEBZ and Vanguard VOO · YTD total return · as of Nov 6, 2026

FEBZ vs Its Peer Average

YTD

FEBZAvsBPeer average

1D−3.1%−2.4%

1M−4.3%−3.8%

3M−4.2%−3.5%

YTD+5.3%+4.0%

1Y+5.9%+4.9%

3Y+52.7%+51.4%

5Y+55.1%+49.5%

4–3FEBZ wins

30 Hedged equity peers · each row scaled to its leader

The Details

FEBZ

Risk

3/5our risk indicator

CalmerBumpier

Volatility · 1Y10.47%

Deepest drop · 1Y−7.2%

Lowest point · 5Y−14.3%

52-week range

$39.62

$35.58−4.7% from the high$41.58

TrueShares FEBZ · past-year price moves · as of Nov 6, 2026

FEBZ

Fund Facts

Today

2021launched Jan 29

Tracks[…]

Exchange · CUSIPCBOE · 210322871

StructureETF

Leverage1x

Cost on $10,000$79 a year

Go deeper

Prospectus & documents Trading & liquidity Fees & costs Distributions

TrueShares FEBZ · fund facts · as of Nov 6, 2026

FEBZ

Payouts by Year

$1.20per share, Dec 2025

Distribution yield3.0%

PaidOnce a year, in December

Latest ex-date · paidDec 24 · Dec 26, 2025

3 payouts added up$4.62 a share

TrueShares FEBZ · distributions by ex-date · 2023–2025

All Fund FactsDocuments · trading · fees · every payout

Prospectus & Documents

SEC reported portfolio · 2026-06-30 ↗SEC reported portfolio · 2026-03-31 ↗summary prospectus · SEC 497K ↗SEC reported portfolio · 2025-12-31 ↗SEC reported portfolio · 2025-09-30 ↗summary prospectus · SEC 497K ↗

Trading & Liquidity

Net asset value$40.43

Premium / discount[…]

Median spread · 30D[…]

Volume today9K

Average volume · 30D1K

Shares outstanding[…]

Options[…]

Fees & Costs

Net expense ratio0.79%

Gross expense ratio[…]

Management fee[…]

Cost on $10,000 a year$79.00

Our risk indicator3/5

Estimated yearly cost excludes trading costs and assumes constant assets.

Distributions

Ex-date	Paid	Per share
Dec 24, 2025	Dec 26, 2025	$1.20
Dec 27, 2024	Dec 30, 2024	$1.33
Dec 27, 2023	Dec 29, 2023	$2.08

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