- ISIN
- US66988L1008
- Issuer
- TrueShares
- Inception Date
- Oct 30, 2020
- Region
- North America (U.S.)
- Category
- Options Trading
- Leveraged
- 1x (No leverage)
- Index Tracked
- No Index (Active)
- Distribution Policy
- Distributing
- Asset Class
- Alternatives
- Asset Class Size
- Large-Cap
- Asset Class Style
- Growth
- Assets Under Management
- $31M
Share Price Chart
Loading charts...
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Performance
NOVZ Performance Chart
TrueShares Structured Outcome (November) ETF (NOVZ) is up 8.1% since the beginning of the year. NOVZ is currently trading at $47 per share. Investors who bought $1,000 worth of NOVZ shares 5 years ago would now be looking at an investment worth $1,712.
Loading charts...
Returns By Period
TrueShares Structured Outcome (November) ETF (NOVZ) has returned 8.13% so far this year and 20.61% over the past 12 months.
TrueShares Structured Outcome (November) ETF
- 1D
- -0.59%
- 1M
- 4.10%
- YTD
- 8.13%
- 6M
- 8.04%
- 1Y
- 20.61%
- 3Y*
- 16.53%
- 5Y*
- 11.35%
- 10Y*
- —
Benchmark (S&P 500 Index)
- 1D
- -0.74%
- 1M
- 4.90%
- YTD
- 10.35%
- 6M
- 10.28%
- 1Y
- 26.52%
- 3Y*
- 20.83%
- 5Y*
- 12.30%
- 10Y*
- 13.66%
NOVZ Monthly Returns History
Based on dividend-adjusted daily data since Nov 2, 2020, NOVZ's average daily return is +0.06%, while the average monthly return is +1.14%. At this rate, an investment would double in approximately 5.1 years.
Historically, 63% of months were positive and 37% were negative. The best month was Oct 2022 with a return of +7.9%, while the worst month was Sep 2022 at -8.0%. The longest winning streak lasted 7 consecutive months, and the longest losing streak was 3 months.
On a daily basis, NOVZ closed higher 55% of trading days. The best single day was Apr 9, 2025 with a return of +7.2%, while the worst single day was Apr 4, 2025 at -4.5%.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | 1.01% | -0.70% | -3.62% | 7.68% | 4.05% | -0.18% | 8.13% | ||||||
| 2025 | 2.11% | -1.13% | -4.25% | -0.45% | 4.54% | 3.72% | 1.64% | 1.56% | 3.09% | 1.99% | -0.15% | -0.03% | 13.03% |
| 2024 | 1.55% | 4.19% | 2.53% | -3.41% | 3.95% | 3.08% | 0.95% | 1.83% | 1.88% | -0.83% | 4.36% | -2.14% | 19.09% |
| 2023 | 4.44% | -1.49% | 2.43% | 0.97% | 0.28% | 4.97% | 2.36% | -1.21% | -3.98% | -1.77% | 6.72% | 3.56% | 18.06% |
| 2022 | -3.74% | -2.19% | 2.79% | -6.08% | 0.87% | -5.17% | 6.91% | -1.87% | -7.98% | 7.90% | 4.06% | -4.06% | -9.58% |
| 2021 | -0.56% | 2.19% | 3.27% | 4.13% | 0.39% | 1.83% | 1.83% | 2.51% | -4.02% | 6.07% | -0.98% | 3.32% | 21.46% |
Benchmark Metrics
TrueShares Structured Outcome (November) ETF has an annualized alpha of 1.77%, beta of 0.75, and R2 of 0.97 versus S&P 500 Index. Calculated based on daily prices since November 03, 2020.
- This ETF participates in less of S&P 500 Index's moves in both directions, but captures a larger share of gains (76.36%) than losses (76.30%) - typical of diversified or defensive assets.
- Alpha
- 1.77%
- Beta
- 0.75
- R²
- 0.97
- Upside Capture
- 76.36%
- Downside Capture
- 76.30%
Expense Ratio
NOVZ has an expense ratio of 0.79%, placing it in the medium range.
Return for Risk
Risk / Return Rank
NOVZ ranks 68 for risk / return — better than 68% of ETFs on our site. You're getting solid returns for the risk taken. A good sign, especially for investors who want growth without excessive volatility.
Return / Risk — by metrics
The table below present risk-adjusted performance metrics for TrueShares Structured Outcome (November) ETF (NOVZ) and compare them to S&P 500 Index.
| NOVZ | Benchmark | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 2.21 | 2.24 | -0.04 |
Sortino ratioReturn per unit of downside risk | 3.04 | 3.07 | -0.03 |
Omega ratioGain probability vs. loss probability | 1.40 | 1.41 | -0.01 |
Calmar ratioReturn relative to maximum drawdown | 3.08 | 2.93 | +0.15 |
Martin ratioReturn relative to average drawdown | 13.64 | 13.52 | +0.12 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
Dividends
Dividend History
TrueShares Structured Outcome (November) ETF provided a 3.32% dividend yield over the last twelve months, with an annual payout of $1.57 per share. The fund has been increasing its distributions for 3 consecutive years.
| Period | TTM | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|---|
| Dividend | $1.57 | $1.57 | $1.18 | $0.79 | $0.07 | $0.17 |
Dividend yield | 3.32% | 3.58% | 2.94% | 2.27% | 0.25% | 0.52% |
Monthly Dividends
The table displays the monthly dividend distributions for TrueShares Structured Outcome (November) ETF. The dividends shown in the table have been adjusted to account for any splits that may have occurred.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | ||||||
| 2025 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $1.57 | $1.57 |
| 2024 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $1.18 | $1.18 |
| 2023 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.79 | $0.79 |
| 2022 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.07 | $0.07 |
| 2021 | $0.17 | $0.17 |
Drawdowns
Drawdowns Chart
The Drawdowns chart displays portfolio losses from any high point along the way. Drawdowns are calculated considering price movements and all distributions paid, if any.
Loading charts...
Worst Drawdowns
The table below displays the maximum drawdowns of the TrueShares Structured Outcome (November) ETF. A maximum drawdown is a measure of risk, indicating the largest reduction in portfolio value due to a series of losing trades.
The maximum drawdown for the TrueShares Structured Outcome (November) ETF was 16.62%, occurring on Oct 12, 2022. Recovery took 169 trading sessions.
The current TrueShares Structured Outcome (November) ETF drawdown is 0.59%.
Related event | Drawdown | Fall | Recovery | Underwater |
|---|---|---|---|---|
Bear market2022 | -16.62%Oct 2022 | 9mo 16d | 8mo 6d | 1y 5moDec 2021 - Jun 2023 |
2025 selloff2025 | -14.63%Apr 2025 | 1mo 17d | 2mo 20d | 4mo 7dFeb 2025 - Jun 2025 |
2023 pullback2023 | -8.30%Oct 2023 | 2mo 27d | 1mo 12d | 4mo 9dAug 2023 - Dec 2023 |
2024 pullback2024 | -7.19%Aug 2024 | 19d | 1mo 15d | 2mo 4dJul 2024 - Sep 2024 |
2026 pullback2026 | -6.72%Mar 2026 | 2mo 16d | 16d | 3mo 2dJan 2026 - Apr 2026 |
Drawdown Indicators
| NOVZ | Benchmark | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -16.62% | -56.78% | +40.16% |
Max Drawdown (1Y)Largest decline over 1 year | -6.72% | -9.10% | +2.38% |
Max Drawdown (3Y)Largest decline over 3 years | -14.63% | -18.90% | +4.27% |
Max Drawdown (5Y)Largest decline over 5 years | -16.62% | -25.43% | +8.81% |
Max Drawdown (10Y)Largest decline over 10 years | — | -33.92% | — |
Current DrawdownCurrent decline from peak | -0.59% | -0.74% | +0.15% |
Average DrawdownAverage peak-to-trough decline | -3.06% | -10.72% | +7.66% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.51% | 1.97% | -0.46% |
Volatility
Volatility Chart
The chart below shows the rolling one-month volatility.
Loading charts...
Build a portfolio with NOVZ
Add TrueShares Structured Outcome (November) ETF to a portfolio and analyze allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Analyzer with NOVZ