ERNZ

TRUESHARES ACTIVE YIELD ETF

Why Invest in ERNZ

TRUEINCOME
The TrueShares Active Yield ETF seeks to provide above-average yield relative to the broader market, with a focus on generating consistent income for investors. By doing so, the fund aims to deliver the opportunity for long-term growth of capital by seeking lower relative volatility. The Fund is an actively-managed exchange-traded fund comprised of 50-150 income generating securities. ERNZ is managed by experienced investment professionals who actively monitor market conditions, select appropriate assets, and make adjustments to the portfolio as needed to achieve the fund’s income objectives. The fund aims to provide consistent income regardless of the broader economic environment. This means that it may hold assets that perform well in both economic expansions and contractions, providing stability throughout market cycles. The TrueShares Active Yield ETF prioritizes providing a steady stream of income for investors, making it an attractive option for those seeking regular cash flow.

Why Invest in ERNZ

TRUEINCOME
The TrueShares Active Yield ETF seeks to provide above-average yield relative to the broader market, with a focus on generating consistent income for investors. By doing so, the fund aims to deliver the opportunity for long-term growth of capital by seeking lower relative volatility. The Fund is an actively-managed exchange-traded fund comprised of 50-150 income generating securities. ERNZ is managed by experienced investment professionals who actively monitor market conditions, select appropriate assets, and make adjustments to the portfolio as needed to achieve the fund’s income objectives. The fund aims to provide consistent income regardless of the broader economic environment. This means that it may hold assets that perform well in both economic expansions and contractions, providing stability throughout market cycles. The TrueShares Active Yield ETF prioritizes providing a steady stream of income for investors, making it an attractive option for those seeking regular cash flow.
FUND SUMMARY

About the ERNZ ETF

Fund Details

Data as of 7/31/2025

Inception Date

April 30, 2024

CUSIP

210322723

Primary Exchange

Nasdaq

Ticker

ERNZ

Fund Listing

05/01/2024

IOPV Symbol

N/A

NAV Symbol

ERNZ.NV

Expense Ratio

3.25%*

30 Day SEC Yield

2.56

Fund Data & Pricing

Data as of 9/29/2025
Net Assets as of 9/29/2025
$144.71M

NAV

$22.37

Shares Outstanding

6,470,000

Premium/Discount Percentage

-0.13%

Closing Price

$22.34

30 Day Median Bid/Ask Spread

0.00%

IOPV, or Indicative Optimized Portfolio Value, is a calculation disseminated by the stock exchange that approximates the Fund’s NAV every fifteen seconds throughout the trading day.

FUND SUMMARY

About the ERNZ ETF

Fund Details

Data as of 7/31/2025

Inception Date

April 30, 2024

Fund Listing

05/01/2024

Primary Exchange

Nasdaq

Ticker

ERNZ

CUSIP

210322723

IOPV Symbol

N/A

NAV Symbol

ERNZ.NV

Expense Ratio

3.25%*

30 Day SEC Yield

2.56

Fund Materials

Fund Materials

Fund Data & Pricing

Data as of 9/29/2025
Net Assets as of 9/29/2025
$144.71M

NAV

$22.37

Shares Outstanding

6,470,000

Premium/Discount Percentage

-0.13%

Closing Price

$22.34

30 Day Median Bid/Ask Spread

0.00%

IOPV, or Indicative Optimized Portfolio Value, is a calculation disseminated by the stock exchange that approximates the Fund’s NAV every fifteen seconds throughout the trading day.

Historical NAV Change

Data as of 09/28/2025

Use the slider below to adjust the time period shown in the graph below.

SUB-ADVISOR

Wealth Builder Funds

Wealth Builder Funds, LLC is an SEC-registered investment adviser specializing in providing advisory services to Exchange Traded Funds. Wealth Builder Funds is responsible for trading portfolio investments in funds and selecting broker-dealers, who are intermediaries responsible for executing these transactions on behalf of Wealth Builder Funds and their clients. This involves choosing the appropriate brokerage firms to carry out the purchase and sale of securities in a way that aligns with the investment objectives and strategies of the funds they manage. Wealth Builder Funds provides expertise in asset allocation, investment selection, risk management, portfolio monitoring, and regulatory compliance. Wealth Builder Funds helps clients achieve their financial goals by providing expert advice and guidance on investment-related matters.

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Fund Materials

Fund Data & Pricing

Data as of 9/29/2025
Net Assets as of 9/29/2025
$144.71M

NAV

$22.37

Shares Outstanding

6,470,000

Premium/Discount Percentage

-0.13%

Closing Price

$22.34

30 Day Median Bid/Ask Spread

0.00%

IOPV, or Indicative Optimized Portfolio Value, is a calculation disseminated by the stock exchange that approximates the Fund’s NAV every fifteen seconds throughout the trading day.

Outcome Period Values

ETF Starting NAV/Period Return

SPX Index Reference Price

Downside Buffer

Expected Upside Participation

Days Remaining

ETF Starting NAV/Period Return

SPX Index Reference Price

Downside Buffer

Expected Upside Participation

Days Remaining

/0.0%

ETF Starting NAV/Period Return SPX Index Reference Price Downside Buffer Expected Upside Participation Days Remaining
29.24 4796 10 70-72% 362

Outcome Period Values

ETF Starting NAV/Period Return

/0.0%

SP Index Reference Price

Downside Buffer

Expected Upside Participation

Days Remaining

Current Outcome Period Values

Data as of 09/28/2025

ETF Current NAV/Period Return

22.37/

SPX Period Return

Remaining Buffer

Downside Before Buffer

Remaining Outcome Period

Current Outcome Period Values

Data as of 09/28/2025
ETF Current NAV/Period Return SPX Period Return Remaining Buffer Downside Before Buffer Remaining Outcome Period
29.24 4796 10 70-72% 362

ETF Current NAV/Period Return

SPX Period Return

Remaining Buffer

Downside Before Buffer

Remaining Outcome Period

$22.37

Performance

Data as of 8/31/2025

3 Month

6 Month

1 Year

5 Year

Since Inception

Market Price

5.21
-0.05
-0.67
3.45

Fund NAV

5.33
-0.07
-0.85
3.36
S&P 500 Total Return Index
9.62
9.21
15.88
16.89

3 Month

6 Month

1 Year

5 Year

Since Inception

Market Price

5.21
-0.05
-0.67
3.45

Fund NAV

5.33
-0.07
-0.85
3.36
S&P 500 Total Return Index
9.62
9.21
15.88
16.89
3 Month 6 Month 1 Year 5 Year Since Inception
Market Price 5.21 -0.05 -0.67 3.45
Fund NAV 5.33 -0.07 -0.85 3.36
S&P 500 Total Return Index 9.62 9.21 15.88 16.89

Performance data quoted on this website represents past performance and does not guarantee future results. Investment return and principal value of an investment will fluctuate so that an investor’s shares, when redeemed or sold in the secondary market, may be worth more or less than the original cost. Investors will incur usual and customary brokerage commissions when buying or selling shares of the exchange-traded funds in the secondary market, and that, if reflected, the brokerage commissions would reduce the performance returns. Current performance may be lower or higher than the performance shown. Shares are bought and sold at market price not net asset value and are not individually redeemable from the fund. Call 877-774-TRUE (8783) for performance data current to the most recent month end. Click here to view or download the factsheet for quarter-end standardized performance.


To view our proxy voting records, click here and here.

Performance

Data as of 8/31/2025

3 Month

6 Month

1 Year

5 Year

Since Inception

3 Month

6 Month

1 Year

5 Year

Since Inception

Market Price

5.21
-0.05
-0.67
3.45

Fund NAV

5.33
-0.07
-0.85
3.36
S&P 500 Total Return Index
9.62
9.21
15.88
16.89
3 Month 6 Month 1 Year 5 Year Since Inception
Market Price 5.21 -0.05 -0.67 3.45
Fund NAV 5.33 -0.07 -0.85 3.36
S&P 500 Total Return Index 9.62 9.21 15.88 16.89

Performance data quoted on this website represents past performance and does not guarantee future results. Investment return and principal value of an investment will fluctuate so that an investor’s shares, when redeemed or sold in the secondary market, may be worth more or less than the original cost. Investors will incur usual and customary brokerage commissions when buying or selling shares of the exchange-traded funds in the secondary market, and that, if reflected, the brokerage commissions would reduce the performance returns. Current performance may be lower or higher than the performance shown. Shares are bought and sold at market price not net asset value and are not individually redeemable from the fund. Call 877-774-TRUE (8783) for performance data current to the most recent month end. Click here to view or download the factsheet for quarter-end standardized performance.


To view our proxy voting records, click here and here.

Distribution Detail

Ex-Date Record Date Payable Date Amount Rate Type

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Top 10 Holdings

Data as of 09/30/2025
% of Net Assets 7.18
Name STATE STREET INST U.S. GOVERNMENT MMKT ADMN CLASS
Ticker SALXX
CUSIP 857492656
Shares Held 10,348,774
Market Value 10.35M
% of Net Assets 4.78
Name Darden Restaurants Inc
Ticker DRI
CUSIP 237194105
Shares Held 35,710
Market Value 6.89M
% of Net Assets 4.72
Name Cisco Systems Inc/Delaware
Ticker CSCO
CUSIP 17275R102
Shares Held 100,503
Market Value 6.81M
% of Net Assets 4.71
Name CVS Health Corp
Ticker CVS
CUSIP 126650100
Shares Held 89,830
Market Value 6.79M
% of Net Assets 4.65
Name Clorox Co/The
Ticker CLX
CUSIP 189054109
Shares Held 54,515
Market Value 6.70M
% of Net Assets 4.64
Name Buckle Inc/The
Ticker BKE
CUSIP 118440106
Shares Held 113,282
Market Value 6.69M
% of Net Assets 4.49
Name EOG Resources Inc
Ticker EOG
CUSIP 26875P101
Shares Held 57,177
Market Value 6.48M
% of Net Assets 4.42
Name BankUnited Inc
Ticker BKU
CUSIP 06652K103
Shares Held 167,006
Market Value 6.38M
% of Net Assets 4.18
Name Hormel Foods Corp
Ticker HRL
CUSIP 440452100
Shares Held 244,559
Market Value 6.03M
% of Net Assets 4.17
Name General Mills Inc
Ticker GIS
CUSIP 370334104
Shares Held 121,205
Market Value 6.02M

Top 10 Holdings

Data as of 09/30/2025
% of Net Assets Name Ticker CUSIP Shares Held Market Value
7.18 STATE STREET INST U.S. GOVERNMENT MMKT ADMN CLASS SALXX 857492656 10,348,774 10.35M
4.78 Darden Restaurants Inc DRI 237194105 35,710 6.89M
4.72 Cisco Systems Inc/Delaware CSCO 17275R102 100,503 6.81M
4.71 CVS Health Corp CVS 126650100 89,830 6.79M
4.65 Clorox Co/The CLX 189054109 54,515 6.70M
4.64 Buckle Inc/The BKE 118440106 113,282 6.69M
4.49 EOG Resources Inc EOG 26875P101 57,177 6.48M
4.42 BankUnited Inc BKU 06652K103 167,006 6.38M
4.18 Hormel Foods Corp HRL 440452100 244,559 6.03M
4.17 General Mills Inc GIS 370334104 121,205 6.02M

Keep up with the latest ERNZ news

Keep up with the latest ERNZ ETF news

Keep up with the latest ERNZ news

    Premium/Discount

    Days traded at

    Previous Year (2024)

    Q1 Current Year

    Q2 Current Year

    Q3 Current Year

    Q4 Current Year

    Premium

    119
    31
    44
    33

    Discount

    50
    30
    34
    34

    Net Asset Value

    1
    6
    13
    24
    Data as of 09/29/2025
    The following table and line graph are provided to show the frequency at which the closing price of the Fund was at a premium (above) or discount (below) to the Fund’s daily net asset value (“NAV”). The table and line graph represent past performance and cannot be used to predict future results. Shareholders may pay more than NAV when buying Fund shares and receive less than NAV when those shares are sold because shares are bought and sold at current.