- Issuer
- TrueShares
- Inception Date
- Dec 29, 2025
- Region
- North America (United States)
- Category
- Derivative Income
- Leveraged
- 1x (No leverage)
- Index Tracked
- No Index (Active)
- Distribution Policy
- Distributing
- Asset Class
- Alternatives
- Assets Under Management
- $30M
Share Price Chart
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Performance
PAYH Performance Chart
TrueShares S&P Autocallable High Income ETF (PAYH) is up 8.5% since the beginning of the year. PAYH is currently trading at $25 per share.
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Returns By Period
TrueShares S&P Autocallable High Income ETF
- 1D
- 0.68%
- 1M
- -0.56%
- YTD
- 8.50%
- 6M
- —
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
Benchmark (S&P 500 Index)
- 1D
- -0.37%
- 1M
- -0.01%
- YTD
- 9.16%
- 6M
- 8.64%
- 1Y
- 25.22%
- 3Y*
- 19.78%
- 5Y*
- 11.99%
- 10Y*
- 13.88%
PAYH Monthly Returns History
Based on dividend-adjusted daily data since Dec 30, 2025, PAYH's average daily return is +0.07%, while the average monthly return is +1.52%. At this rate, an investment would double in approximately 3.8 years.
Historically, 29% of months were positive and 71% were negative. The best month was Apr 2026 with a return of +22.8%, while the worst month was Mar 2026 at -12.8%. The longest winning streak lasted 2 consecutive months, and the longest losing streak was 4 months.
On a daily basis, PAYH closed higher 53% of trading days. The best single day was Apr 1, 2026 with a return of +8.1%, while the worst single day was Mar 30, 2026 at -4.4%.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | -0.44% | -1.67% | -12.81% | 22.77% | 3.80% | -0.24% | 8.50% | ||||||
| 2025 | -0.73% | -0.73% |
Benchmark Metrics
TrueShares S&P Autocallable High Income ETF has an annualized alpha of 7.98%, beta of 0.60, and R2 of 0.14 versus S&P 500 Index. Calculated based on daily prices since December 30, 2025.
- This ETF participated in 174.14% of S&P 500 Index downside but only 173.08% of its upside - more exposed to losses than it benefited from rallies.
- Beta of 0.60 may look defensive, but with R2 of 0.14 this ETF is largely uncorrelated with S&P 500 Index - low beta reflects independence, not downside protection. See the Volatility section for a true picture of this ETF's risk.
- R2 of 0.14 means this ETF moves largely independently of S&P 500 Index - capture ratios reflect limited market correlation rather than active downside protection. Consider using a more representative benchmark.
- Alpha
- 7.98%
- Beta
- 0.60
- R²
- 0.14
- Upside Capture
- 173.08%
- Downside Capture
- 174.14%
Expense Ratio
PAYH has an expense ratio of 0.74%, placing it in the medium range.
Return for Risk
Return / Risk — by metrics
The table below present risk-adjusted performance metrics for TrueShares S&P Autocallable High Income ETF (PAYH) and compare them to S&P 500 Index.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| PAYH | Benchmark | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | — | 1.37 | — |
| Calmar ratioReturn relative to maximum drawdown | — | 2.78 | — |
| Martin ratioReturn relative to average drawdown | — | 12.44 | — |
Dividends
Dividend History
TrueShares S&P Autocallable High Income ETF provided a 6.47% dividend yield over the last twelve months, with an annual payout of $1.63 per share.
| Period | TTM |
|---|---|
| Dividend | $1.63 |
Dividend yield | 6.47% |
Monthly Dividends
The table displays the monthly dividend distributions for TrueShares S&P Autocallable High Income 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 | $0.31 | $0.30 | $0.29 | $0.36 | $0.36 | $0.00 | $1.63 |
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.
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Worst Drawdowns
The table below displays the maximum drawdowns of the TrueShares S&P Autocallable High Income 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 S&P Autocallable High Income ETF was 16.33%, occurring on Mar 30, 2026. Recovery took 11 trading sessions.
The current TrueShares S&P Autocallable High Income ETF drawdown is 1.16%.
Related event | Drawdown | Fall | Recovery | Underwater |
|---|---|---|---|---|
2026 correction2026 | -16.33%Mar 2026 | 2mo 15d | 16d | 3mo 1dJan 2026 - Apr 2026 |
2026 pullback2026 | -3.90%Jun 2026 | 7d | — | 20d 4hJun 2026 - now |
2026 pullback2026 | -1.64%Apr 2026 | 2d | 1d | 3dApr 2026 - May 2026 |
2026 pullback2026 | -1.15%Jun 2026 | 3d | 1d | 4dMay 2026 - Jun 2026 |
2026 pullback2026 | -1.05%May 2026 | 1d | 2d | 3dMay 2026 - May 2026 |
Drawdown Indicators
| PAYH | Benchmark | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -16.33% | -56.78% | +40.45% |
Max Drawdown (1Y)Largest decline over 1 year | — | -9.10% | — |
Max Drawdown (3Y)Largest decline over 3 years | — | -18.90% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -25.43% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -33.92% | — |
Current DrawdownCurrent decline from peak | -1.16% | -1.80% | +0.64% |
Average DrawdownAverage peak-to-trough decline | -2.70% | -10.71% | +8.01% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | — | 2.03% | — |
Volatility
Volatility Chart
The chart below shows the rolling one-month volatility.
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