TrueShares Structured Outcome (November) ETFNOVZ

TrueSharesDefined OutcomeHedged Equity#170 of 318 by YTD

$47.52

+1.2% last session

+8.4% YTD

Data as of 11/4/20264:00 PM ET · End-of-day

Dividend-adjusted total return · S&P 500 uses VOO · Dec 31, 2025 – Nov 4, 2026NOVZS&P 500 · VOO

Returns	1D	1M	3M	YTD	1Y	3Y	5Y	MAX
Total return	+1.2%	−1.7%	−1.0%	+8.4%	+8.1%	+62.1%	+61.3%	+108.6%
Peer average	+0.9%	−1.5%	−0.7%	+6.7%	+6.9%	+56.2%	+54.5%	—
S&P 500 · VOO	+1.6%	−1.6%	0.0%	+13.4%	+13.5%	+91.7%	+81.2%	—

Key Statistics

Open all fund facts →

AUM: $37M
Expense ratio: 0.79%
Distribution yield: 3.3%
NAV: $46.87
Volume: 15K
Avg. volume 30D: 2K
High today: $47.58
Low today: $47.47
Previous close: $46.95
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+18.4%$744M

#2RFLRInnovator+13.7%$95.5M

#3KSPYKraneShares+10.3%$133M

#4PHEQEaton Vance+9.7%$149M

#5MAYZTrueShares+9.6%$32.9M

#6JUNZTrueShares+9.5%$29.9M

#7JULZTrueShares+9.5%$38.2M

#8SEPZTrueShares+9.5%$104M

#17NOVZTrueShares+8.4%$36.6M

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

$10,000 in NOVZ

$10,000 in NOVZ became

$16,130

In the S&P 500 (VOO)

$18,115

Total return, dividends in · Oct 27, 2021 – Nov 4, 2026 · S&P 500 uses VOO

NOVZ Returns by Period

Today

YTD

MAX

NOVZ

+1.2%

−1.7%

−1.0%

+8.4%

+8.1%

+62.1%

+61.3%

+108.6%

Peer average

+0.9%

−1.5%

−0.7%

+6.7%

+6.9%

+56.2%

+54.5%

—

S&P 500 · VOO

+1.6%

−1.6%

0.0%

+13.4%

+13.5%

+91.7%

+81.2%

—

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

NOVZ’s Defined Outcome Rank

YTD

#170of 318
defined outcome ETFs

Best · SIXH+18.4%

NOVZ+8.4%

Average+8.3%

Worst · KBUF−17.1%

Defined Outcome ETFs by YTD return · Nov 5, 2026

NOVZ Price and 52-Week Range

From the 52-week high

−1.9%

From the 52-week low

+14.3%

Today $47.47 – $47.58

Previous close $46.95

$47.52 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 $14.8B 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 5, 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 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

Today


HELO	J.P. MorganRead Desk	0.50%	+1.1%	+6.7%	$4.8B
BALT	InnovatorRead Desk	0.69%	+0.4%	+6.3%	$3.2B
SFLR	InnovatorRead Desk	0.89%	+1.2%	+6.6%	$2.2B
FHEQ	FidelityRead Desk	0.52%	+0.6%	+7.5%	$986M
SIXH	MeridianRead Desk	0.31%	+0.7%	+23.9%	$744M
NOVZ	TrueSharesThis fundRead Desk	0.79%	+1.2%	+8.1%	$37M

Hedged equity peers · Today’s and past-year returns · as of Nov 5, 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

+5.3%

+8.4%

NOVZ wins+3.0 pts

Past year

+6.7%

+8.1%

NOVZ wins+1.4 pts

Fee

0.50%

0.79%

HELO winslower fee

Yield

0.6%

3.3%

NOVZ wins+2.7 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 5, 2026 · AUM not scored

NOVZ vs VOO

YTD

NOVZ · TrueShares Structured Outcome (November)

+8.4%

VOO · S&P 500

+13.4%

Gap

5.0 pts

TrueShares NOVZ and Vanguard VOO · Today total return · as of Nov 5, 2026

NOVZ vs Its Peer Average

YTD

NOVZAvsBPeer average

1D+1.2%+0.9%

1M−1.7%−1.5%

3M−1.0%−0.7%

YTD+8.4%+6.7%

1Y+8.1%+6.9%

3Y+62.1%+56.2%

5Y+61.3%+54.5%

5–2NOVZ wins

30 Hedged equity peers · each row scaled to its leader

The Details

NOVZ

Risk

3/5our risk indicator

CalmerBumpier

Volatility · 1Y9.88%

Deepest drop · 1Y−6.7%

Lowest point · 5Y−12.3%

52-week range

$47.52

$41.57−1.9% from the high$48.44

TrueShares NOVZ · past-year price moves · as of Nov 5, 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 5, 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 today15K

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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