TRUESHARES

TRUESHARES

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 9/30/2025

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

2.38

Fund Data & Pricing

Data as of 10/30/2025
Net Assets as of 10/30/2025
$125.50M

NAV

$20.99

Shares Outstanding

5,980,000

Premium/Discount Percentage

-0.10%

Closing Price

$20.97

30 Day Median Bid/Ask Spread

0.23%

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 9/30/2025

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

2.38

Fund Materials

Fact Sheet
Fact Sheet
Prospectus
SAI
Summary Prospectus
Launch Press Release
Key Benefits of ETFs
ETFs Under the Hood
Part F Schedule of Investments 09/30/2024
Semi-Annual Shareholder Report
Semi-Annual Financial Statements & Additional Information
Annual Financial Statements & Additional Information
Annual Shareholder Report
Supplement 2025/03
Proxy Statement - April 14, 2025
Part F Schedule of Investments 03/31/2025

Fund Materials

Fact Sheet
Prospectus
SAI
Summary Prospectus
Launch Press Release
Key Benefits of ETFs
ETFs Under the Hood
Part F Schedule of Investments 09/30/2024
Semi-Annual Shareholder Report
Semi-Annual Financial Statements & Additional Information
Annual Financial Statements & Additional Information
Annual Shareholder Report
Supplement 2025/03
Proxy Statement - April 14, 2025
Part F Schedule of Investments 03/31/2025

Fund Data & Pricing

Data as of 10/30/2025
Net Assets as of 10/30/2025
$125.50M

NAV

$20.99

Shares Outstanding

5,980,000

Premium/Discount Percentage

-0.10%

Closing Price

$20.97

30 Day Median Bid/Ask Spread

0.23%

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 10/30/2025

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

Fact Sheet
Prospectus
SAI
Summary Prospectus
Launch Press Release
Key Benefits of ETFs
ETFs Under the Hood
Part F Schedule of Investments 09/30/2024
Semi-Annual Shareholder Report
Semi-Annual Financial Statements & Additional Information
Annual Financial Statements & Additional Information
Annual Shareholder Report
Supplement 2025/03
Proxy Statement - April 14, 2025
Part F Schedule of Investments 03/31/2025

Fund Data & Pricing

Data as of 10/30/2025
Net Assets as of 10/30/2025
$125.50M

NAV

$20.99

Shares Outstanding

5,980,000

Premium/Discount Percentage

-0.10%

Closing Price

$20.97

30 Day Median Bid/Ask Spread

0.23%

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 10/30/2025

ETF Current NAV/Period Return

20.99/

SPX Period Return

Remaining Buffer

Downside Before Buffer

Remaining Outcome Period

Current Outcome Period Values

Data as of 10/30/2025
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

$20.99

Performance

Data as of 9/30/2025

3 Month

6 Month

1 Year

5 Year

Since Inception

Market Price

0.17
0.82
-4.04
2.22

Fund NAV

0.21
0.91
-4.07
2.2
S&P 500 Total Return Index
8.12
19.96
17.6
19.05

3 Month

6 Month

1 Year

5 Year

Since Inception

Market Price

0.17
0.82
-4.04
2.22

Fund NAV

0.21
0.91
-4.07
2.2
S&P 500 Total Return Index
8.12
19.96
17.6
19.05
3 Month 6 Month 1 Year 5 Year Since Inception
Market Price 0.17 0.82 -4.04 2.22
Fund NAV 0.21 0.91 -4.07 2.2
S&P 500 Total Return Index 8.12 19.96 17.6 19.05

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 9/30/2025

3 Month

6 Month

1 Year

5 Year

Since Inception

3 Month

6 Month

1 Year

5 Year

Since Inception

Market Price

0.17
0.82
-4.04
2.22

Fund NAV

0.21
0.91
-4.07
2.2
S&P 500 Total Return Index
8.12
19.96
17.6
19.05
3 Month 6 Month 1 Year 5 Year Since Inception
Market Price 0.17 0.82 -4.04 2.22
Fund NAV 0.21 0.91 -4.07 2.2
S&P 500 Total Return Index 8.12 19.96 17.6 19.05

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

PREVIOUS

1/1

NEXT

PREMIUM DISCOUNT INFORMATION

PREVIOUS

1/1

NEXT

DOWNLOAD PREMIUM DISCOUNT INFORMATION

Top 10 Holdings

Data as of 10/31/2025
% of Net Assets 2.89
Name FLEX LNG Ltd
Ticker FLNG
CUSIP G35947202
Shares Held 142,350
Market Value 3.67M
% of Net Assets 2.72
Name International Seaways Inc
Ticker INSW
CUSIP Y41053102
Shares Held 68,582
Market Value 3.45M
% of Net Assets 2.43
Name Guggenheim Strategic Opportunities
Ticker GOF
CUSIP 40167F101
Shares Held 232,587
Market Value 3.08M
% of Net Assets 2.3
Name Caledonia Mining Corp PLC
Ticker CMCL
CUSIP G1757E113
Shares Held 100,584
Market Value 2.91M
% of Net Assets 2.24
Name STATE STREET INST U.S. GOVERNMENT MMKT ADMN CLASS
Ticker SALXX
CUSIP 857492656
Shares Held 2,846,157
Market Value 2.85M
% of Net Assets 2.22
Name WisdomTree Equity Premium Income
Ticker WTPI
CUSIP 97717X560
Shares Held 83,954
Market Value 2.82M
% of Net Assets 2.07
Name RiverNorth Capital and Income
Ticker RSF
CUSIP 76882B108
Shares Held 176,781
Market Value 2.63M
% of Net Assets 2
Name First Trust NASDAQ BuyWrite Income
Ticker FTQI
CUSIP 33738R407
Shares Held 120,986
Market Value 2.53M
% of Net Assets 1.99
Name Cogent Communications Holdings
Ticker CCOI
CUSIP 19239V302
Shares Held 62,737
Market Value 2.52M
% of Net Assets 1.8
Name FS KKR Capital Corp
Ticker FSK
CUSIP 302635206
Shares Held 152,036
Market Value 2.29M
DOWNLOAD FULL HOLDINGS

Top 10 Holdings

Data as of 10/31/2025
% of Net Assets Name Ticker CUSIP Shares Held Market Value
2.89 FLEX LNG Ltd FLNG G35947202 142,350 3.67M
2.72 International Seaways Inc INSW Y41053102 68,582 3.45M
2.43 Guggenheim Strategic Opportunities GOF 40167F101 232,587 3.08M
2.3 Caledonia Mining Corp PLC CMCL G1757E113 100,584 2.91M
2.24 STATE STREET INST U.S. GOVERNMENT MMKT ADMN CLASS SALXX 857492656 2,846,157 2.85M
2.22 WisdomTree Equity Premium Income WTPI 97717X560 83,954 2.82M
2.07 RiverNorth Capital and Income RSF 76882B108 176,781 2.63M
2 First Trust NASDAQ BuyWrite Income FTQI 33738R407 120,986 2.53M
1.99 Cogent Communications Holdings CCOI 19239V302 62,737 2.52M
1.8 FS KKR Capital Corp FSK 302635206 152,036 2.29M
DOWNLOAD FULL HOLDINGS

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
    9

    Discount

    50
    30
    34
    35
    12

    Net Asset Value

    1
    6
    13
    24
    10
    Data as of 10/31/2025
    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.