TrueShares Structured Outcome (November) ETFNOVZ

TrueSharesDefined OutcomeHedged Equity#223 of 318 by YTD

$45.94

−3.3% last session

+4.8% YTD

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

Dividend-adjusted return from the previous close · S&P 500 uses VOONOVZS&P 500 · VOO

Returns	1D	1M	3M	YTD	1Y	3Y	5Y	MAX
Total return	−3.3%	−4.8%	−4.7%	+4.8%	+5.6%	+55.8%	+54.7%	+101.7%
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: $37M
Expense ratio: 0.79%
Distribution yield: 3.4%
NAV: $46.97
Volume: 1K
Avg. volume 30D: 2K
High today: $46.15
Low today: $45.94
Previous close: $47.52
52-week high: $48.44
52-week low: $41.57
Our risk indicator: 3/5

NOVZ in One Breath

NOVZ 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

#19NOVZTrueShares+4.8%$36.6M

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

$10,000 in NOVZ

$10,000 in NOVZ became

$15,468

In the S&P 500 (VOO)

$17,156

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

NOVZ Returns by Period

Today

YTD

MAX

NOVZ

−3.3%

−4.8%

−4.7%

+4.8%

+5.6%

+55.8%

+54.7%

+101.7%

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%

—

End-of-day Nov 5, 2026 · total return, dividends in · peers = 30 Hedged equity ETFs

NOVZ’s Defined Outcome Rank

YTD

#223of 318
defined outcome ETFs

Best · SIXH+14.7%

Average+5.8%

NOVZ+4.8%

Worst · KBUF−16.8%

Defined Outcome ETFs by YTD return · Nov 5, 2026

NOVZ Price and 52-Week Range

From the 52-week high

−5.2%

From the 52-week low

+10.5%

Today $45.94 – $46.15

Previous close $47.52

$45.94 now

52-week low$41.5752-week high$48.44

End-of-day Nov 5, 2026 · box = today’s range, dashed = previous close

NOVZ’s Share of Hedged Equity ETFs

Today

0.2%

of the $14.9B in 31 Hedged equity ETFs

NOVZ$36.6M0.2%

HELO$4.9B32.6%

BALT$3.3B22.0%

28 others$6.7B45.2%

Hedged equity ETF AUM · Nov 5, 2026

NOVZ 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

NOVZ$0.79

HEGD$0.88

SFLR$0.89

Expense ratio · Hedged equity peers · Nov 5, 2026

Inside NOVZ

4 holdings

NOVZ

TrueShares Structured Outcome (November) ETF

Today

NOVZ reports no holdings we can show: […]

TrueShares NOVZ · holdings

How It Compares

NOVZ

TrueShares Structured Outcome (November) 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
NOVZ	TrueSharesThis fundRead Desk	0.79%	+4.8%	+5.6%	$37M

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

Head to Head

Put NOVZ head to head with HELO →

HELO vs NOVZ

YTD

HELOJ.P. Morgan · Hedged equityNOVZTrueShares · Hedged equity

Year to date

+2.5%

+4.8%

NOVZ wins+2.3 pts

Past year

+4.3%

+5.6%

NOVZ wins+1.3 pts

Fee

0.50%

0.79%

HELO winslower fee

Yield

0.6%

3.4%

NOVZ wins+2.8 pts

AUM

$4.9B

$36.6M

HELO132.5× more

3–1NOVZ wins

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

NOVZ vs VOO

YTD

NOVZ · TrueShares Structured Outcome (November)

+4.8%

VOO · S&P 500

+8.4%

Gap

3.6 pts

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

NOVZ vs Its Peer Average

YTD

NOVZAvsBPeer average

1D−3.3%−2.4%

1M−4.8%−3.8%

3M−4.7%−3.5%

YTD+4.8%+4.0%

1Y+5.6%+4.9%

3Y+55.8%+51.4%

5Y+54.7%+49.5%

4–3NOVZ wins

30 Hedged equity peers · each row scaled to its leader

The Details

NOVZ

Risk

3/5our risk indicator

CalmerBumpier

Volatility · 1Y10.40%

Deepest drop · 1Y−6.7%

Lowest point · 5Y−13.7%

52-week range

$45.94

$41.57−5.2% from the high$48.44

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

NOVZ

Fund Facts

Today

2020launched Oct 30

Tracks[…]

Exchange · CUSIPCBOE · 210322772

StructureETF

Leverage1x

Cost on $10,000$79 a year

Go deeper

Prospectus & documents Trading & liquidity Fees & costs Distributions

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

NOVZ

Payouts by Year

$1.57per share, Dec 2025

Distribution yield3.4%

PaidOnce a year, in December

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

5 payouts added up$3.79 a share

TrueShares NOVZ · distributions by ex-date · 2021–2025

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$46.97

Premium / discount[…]

Median spread · 30D[…]

Volume today1K

Average volume · 30D2K

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	$1.57
Dec 27, 2024	Dec 30, 2024	$1.18
Dec 27, 2023	Dec 29, 2023	$0.79
Dec 29, 2022	Jan 3, 2023	$0.0742
Dec 29, 2021	Dec 31, 2021	$0.17

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