- What does NOVZ invest in?
- This actively managed exchange-traded fund (ETF) pursues its investment goals by committing nearly all of its assets to options contracts that derive their value from an underlying index. Specifically, on each designated "Initial Investment Day," the fund systematically purchases call options and sells put options. These options are tied to either the S&P 500 Price Index directly or an ETF designed to track its performance, and they are structured to mature by the subsequent "Roll Date." The fund operates with a non-diversified investment approach.
- What is the expense ratio of NOVZ?
- TrueShares Structured Outcome (November) ETF (NOVZ) charges an expense ratio of 0.79%. This is the annual fee deducted from fund assets to cover management and operations.
- How big is NOVZ?
- TrueShares Structured Outcome (November) ETF (NOVZ) manages $34.8M in total assets. AUM determines bid-ask liquidity and the fund's vulnerability to closure — funds below ~$50M are at higher risk of liquidation.
- Is NOVZ actively managed or an index fund?
- NOVZ is actively managed — the manager selects holdings rather than tracking an index. Active funds typically charge higher expense ratios than index funds (NOVZ's is 0.79%) in exchange for the discretion to over- or under-weight positions.
- When was NOVZ launched?
- TrueShares Structured Outcome (November) ETF (NOVZ) launched in October 2020 and is managed by TrueShares.
- How has NOVZ performed?
- NOVZ's total return — price change plus reinvested distributions — is charted at the top of this page. Switch the price chart to Total Return and pick a 1-year, 3-year, 5-year, or 10-year window to read the compound annual growth rate (CAGR) over each horizon.
