TrueShares Structured Outcome (November) ETFNOVZ

TrueSharesDefined OutcomeHedged Equity#196 of 318 by YTD

$46.95

+0.2% last session

+7.1% YTD

Data as of 11/3/20264:00 PM ET · End-of-day

Dividend-adjusted total return · S&P 500 uses VOO · Nov 2, 2020 – Nov 3, 2026NOVZS&P 500 · VOO

Returns	1D	1M	3M	YTD	1Y	3Y	5Y	MAX
Total return	+0.2%	−2.4%	−2.4%	+7.1%	+6.9%	+61.8%	+58.7%	+106.1%
Peer average	+0.2%	−2.0%	−1.7%	+5.8%	+6.0%	+56.0%	+52.4%	—
S&P 500 · VOO	+0.3%	−2.6%	−1.7%	+11.5%	+11.9%	+90.9%	+77.5%	—

Key Statistics

Open all fund facts →

AUM: $37M
Expense ratio: 0.79%
Distribution yield: 3.3%
NAV: $46.87
Volume: 2K
Avg. volume 30D: 1K
High today: $47.11
Low today: $46.91
Previous close: $46.86
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+17.5%$744M

#2RFLRInnovator+12.5%$95.5M

#3KSPYKraneShares+8.9%$133M

#4PHEQEaton Vance+8.8%$149M

#5JUNZTrueShares+8.4%$29.9M

#6JULZTrueShares+8.3%$38.2M

#7MAYZTrueShares+8.3%$32.9M

#8SEPZTrueShares+8.2%$104M

#18NOVZTrueShares+7.1%$36.6M

End-of-day Nov 4, 2026 · 29 Hedged equity ETFs by YTD

$10,000 in NOVZ

$10,000 in NOVZ became

$15,867

In the S&P 500 (VOO)

$17,749

Total return, dividends in · Oct 26, 2021 – Nov 3, 2026 · S&P 500 uses VOO

NOVZ Returns by Period

Today

YTD

MAX

NOVZ

+0.2%

−2.4%

+7.1%

+6.9%

+61.8%

+58.7%

+106.1%

Peer average

+0.2%

−2.0%

−1.7%

+5.8%

+6.0%

+56.0%

+52.4%

—

S&P 500 · VOO

+0.3%

−2.6%

−1.7%

+11.5%

+11.9%

+90.9%

+77.5%

—

End-of-day Nov 4, 2026 · total return, dividends in · peers = 30 Hedged equity ETFs

NOVZ’s Defined Outcome Rank

YTD

#196of 318
defined outcome ETFs

Best · SIXH+17.5%

Average+7.4%

NOVZ+7.1%

Worst · KBUF−17.8%

Defined Outcome ETFs by YTD return · Nov 4, 2026

NOVZ Price and 52-Week Range

From the 52-week high

−3.1%

From the 52-week low

+12.9%

Today $46.91 – $47.11

Previous close $46.86

$46.95 now

52-week low$41.5752-week high$48.44

End-of-day Nov 4, 2026 · box = today’s range, dashed = previous close

NOVZ’s Share of Hedged Equity ETFs

Today

0.2%

of the $14.8B in 31 Hedged equity ETFs

NOVZ$36.6M0.2%

HELO$4.8B32.7%

BALT$3.2B21.9%

28 others$6.7B45.2%

Hedged equity ETF AUM · Nov 4, 2026

NOVZ Fee per $100 vs Peers

Today

$0.79a year
per $100

$79 a year on $10,000

SIXH$0.31

HELO$0.50

FHEQ$0.52

BALT$0.69

NOVZ$0.79

SFLR$0.89

Expense ratio · Hedged equity peers · Nov 4, 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%	+4.2%	+5.7%	$4.8B
BALT	InnovatorRead Desk	0.69%	+4.3%	+5.9%	$3.2B
SFLR	InnovatorRead Desk	0.89%	+5.4%	+5.5%	$2.2B
FHEQ	FidelityRead Desk	0.52%	+7.7%	+7.1%	$986M
SIXH	MeridianRead Desk	0.31%	+17.5%	+22.6%	$744M
NOVZ	TrueSharesThis fundRead Desk	0.79%	+7.1%	+6.9%	$37M

Hedged equity peers · YTD and past-year returns · as of Nov 4, 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

+4.2%

+7.1%

NOVZ wins+2.9 pts

Past year

+5.7%

+6.9%

NOVZ wins+1.1 pts

Fee

0.50%

0.79%

HELO winslower fee

Yield

0.6%

3.3%

NOVZ wins+2.8 pts

AUM

$4.8B

$36.6M

HELO132.5× more

3–1NOVZ wins

J.P. Morgan HELO and TrueShares NOVZ · year-to-date · as of Nov 4, 2026 · AUM not scored

NOVZ vs VOO

YTD

NOVZ · TrueShares Structured Outcome (November)

+7.1%

VOO · S&P 500

+11.5%

Gap

4.5 pts

TrueShares NOVZ and Vanguard VOO · YTD total return · as of Nov 4, 2026

NOVZ vs Its Peer Average

YTD

NOVZAvsBPeer average

1D+0.2%+0.2%

1M−2.4%−2.0%

3M−2.4%−1.7%

YTD+7.1%+5.8%

1Y+6.9%+6.0%

3Y+61.8%+56.0%

5Y+58.7%+52.4%

4–3NOVZ wins

30 Hedged equity peers · each row scaled to its leader

The Details

NOVZ

Risk

3/5our risk indicator

CalmerBumpier

Volatility · 1Y9.81%

Deepest drop · 1Y−6.7%

Lowest point · 5Y−12.2%

52-week range

$46.95

$41.57−3.1% from the high$48.44

TrueShares NOVZ · past-year price moves · as of Nov 4, 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 4, 2026

NOVZ

Payouts by Year

$1.57per share, Dec 2025

Distribution yield3.3%

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$46.87

Premium / discount[…]

Median spread · 30D[…]

Volume today2K

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	$1.57
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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