DIVZ

Opal Dividend Income ETF

High Quality Dividend Payers // Capital Appreciation // Forward LookingRecent Update: DIVZ Now Pays Monthly Distributions Opal Dividend Income ETF is designed for investors seeking lower volatility with higher dividend yield than the overall market while still having access to capital appreciation opportunities. DIVZ is driven by a belief that dividend-paying companies tend to be more established businesses with high cash flow, stable revenue streams, and more disciplined capital reinvestment which may, in turn, help them experience lower volatility relative to the overall equity market. DIVZ is concentrated in 25-35 well-managed companies across a range of sectors, and seeks to offer above-average dividends and the ability to grow those dividends over time. *Dividends are not guaranteed.

Invest

As Of

Dec 18, 2025

MM/DD/YYYY

Inception Date

Jan 27, 2021

MM/DD/YYYY

NAV

36.23

XX.XX

(Change:

-0.1

X.XX

-0.28

X.XX

)

Market Price

36.24

XX.XX

(Change:

-0.1

X.XX

-0.28

X.XX

)

Net Assets

210123334

—

YTD Return

11.91

XX.XX

Expense Ratio

0.65

X.XX

Fund Details

Listing Information

Inception Date

Jan 27, 2021

Primary Exchange

NYSE

Ticker

DIVZ

CUSIP

210322731

IOPV

N/A

NAV Symbol

DIVZ.NZ

Fund Documents

Prospectus

Fact Sheet

Annual Financial Statements & Additional Information

Annual Shareholder Report

Investment Case

Launch Press Release

Part F Schedule of Investments – 03/31/2023

Part F Schedule of Investments – 03/31/2024

Part F Schedule of Investments – 03/31/2025

Part F Schedule of Investments – 09/30/2022

Part F Schedule of Investments – 09/30/2023

Part F Schedule of Investments – 09/30/2024

Part F Schedule of Investments – 09/30/2025

Proxy Statement – April 14, 2025

SAI

Semi-annual Financial Statements & Additional Information

Semi-annual Shareholder Report

Summary Prospectus

Supplement 03/2025

Scroll for more documents. ⬇

Scroll for more documents. ⬆

Details

As Of

Dec 18, 2025

MM/DD/YYYY

Net Assets

210123334

—

Shares Outstanding

5800000

XXX,XXX

30 Day Median Bid/Ask Spread

0.06

X.XX

Expense Ratio

0.65

X.XX

Number of Holdings

Reset Frequency

Annual

^*The unitary management fee for ERNZ is 0.75%, which represents the direct expenses charged by the Fund. The 3.25% expense ratio shown in the most recent prospectus includes Acquired Fund Fees and Expenses (AFFE), which were materially higher at that time. Based on the latest semi-annual report, AFFE have been reduced and are expected to be significantly lower going forward.

Performance

As of:

Dec 18, 2025

MM/DD/YYYY

As of:

Oct 31, 2025

MM/DD/YYYY

1 month

3 months

6 months

YTD

1 year

Since Inception

NAV

This is some text inside of a div block.

-3.46

X.XX

-0.36

X.XX

6.67

X.XX

11.91

X.XX

10.26

X.XX

63.72

X.XX

Market Price

This is some text inside of a div block.

-3.44

X.XX

-0.38

X.XX

6.59

X.XX

11.92

X.XX

10.19

X.XX

63.80

X.XX

S&P 500 Total Return Index

[Index]

2.34

X.XX

8.23

X.XX

23.60

X.XX

17.52

X.XX

21.45

X.XX

95.67

X.XX

As of:

MM/DD/YYYY

1 month

3 months

6 months

YTD

1 year

Since Inception

NAV

X.XX

Market Price

X.XX

S&P 500 Total Return Index

[Index]

X.XX

As of:

Oct 31, 2025

MM/DD/YYYY

1 Year

3 Years

5 Years

10 Years

15 Years

Since Inception

NAV

This is some text inside of a div block.

10.26

X.XX

9.83

X.XX

10.92

X.XX

Market Price

This is some text inside of a div block.

10.19

X.XX

9.80

X.XX

10.93

X.XX

S&P 500 Total Return Index

[Index]

21.45

X.XX

22.68

X.XX

15.15

X.XX

Performance Disclosure

Expense ratio: 0.65%

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.

Index performance does not represent TrueShares fund performance. It is not possible to invest directly in an index. All performance figures assume reinvestment of dividend and capital gains at net asset value; actual returns may differ. Performance 1-year and less are cumulative; performance over 1-year are average annualized total returns. Market price performance is determined using the bid/ask midpoint at 4:00pm Eastern time, when the NAV is typically calculated. NAV price performance is determined using the daily calculated NAV. They do not represent the returns you would receive if you traded shares at other times. Performance figures do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or upon redemption or sale of fund shares. The fund inception date is generally several days prior to when the fund begins trading. NAV prices are used to calculate market price performance prior to 07/1/2020, when the fund first traded on an exchange. Click here to view or download a full prospectus. Click here to view or download a summary prospectus.

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

Fund Details

Outcome Period Values

As Of

MM/DD/YYYY

ETF Starting NAV/Period Return

XX.XX

X.XX

SPX Index Reference PRice

X,XXX.XX

Downside Buffer

Expected Upside Participation

–

Days Remaining

days

day

Current Outcome Period Values

As Of

Dec 18, 2025

MM/DD/YYYY

ETF Current NAV/Period Return

XX.XX

X.XX

SPX Period Return

XX.XX

Remaining Buffer

Downside Before Buffer

X.XX

Remaining Outcome Period

days

Top 10 Holdings

As of:

Dec 19, 2025

MM/DD/YYYY

Download Holdings CSV

Ticker

Security Description

CUSIP / ISIN

% of Funds

Shares / Contracts

Market Value

MPLX

MPLX LP

55336V100

5.47

215911

11488624

Philip Morris International Inc

718172109

5.21

69465

10927539

VERIZON COMMUNICATIONS INC

92343V104

5.15

267605

10813918

NEE

NextEra Energy Inc

65339F101

5.07

131626

10641962

Citigroup Inc

172967424

4.98

92595

10447494

ENB

Enbridge Inc

29250N105

4.56

204899

9576979

Goldman Sachs Group Inc/The

38141G104

4.39

10512

9211666

JNJ

Johnson & Johnson

478160104

4.09

41218

8586122

CME

CME Group Inc

12572Q105

3.92

30884

8216071

Dominion Energy Inc

25746U109

3.76

131403

7897320

Fund holdings and allocations are subject to change and should not be considered recommendations to buy or sell any security.

Distributions

Ex-Date

Record Date

Payable Date

Amount

Rate Type

Paid

Oct 30, 2025

Oct 31, 2025

0.082

X.XXX

Ordinary Income

Sep 25, 2025

Sep 26, 2025

0.0431

X.XXX

Ordinary Income

Aug 28, 2025

Aug 29, 2025

0.093

X.XXX

Ordinary Income

Jul 30, 2025

Jul 31, 2025

0.071

X.XXX

Ordinary Income

Jun 26, 2025

Jun 27, 2025

0.098

X.XXX

Ordinary Income

May 29, 2025

May 30, 2025

0.1

X.XXX

Ordinary Income

Apr 29, 2025

Apr 30, 2025

0.08

X.XXX

Ordinary Income

Mar 27, 2025

Mar 28, 2025

0.038

X.XXX

Ordinary Income

Feb 27, 2025

Feb 28, 2025

0.113

X.XXX

Ordinary Income

Jan 30, 2025

Jan 31, 2025

0.042

X.XXX

Ordinary Income

Dec 27, 2024

Dec 30, 2024

0.093

X.XXX

Ordinary Income

Nov 26, 2024

Nov 27, 2024

0.129

X.XXX

Ordinary Income

Oct 30, 2024

Oct 31, 2024

0.075

X.XXX

Ordinary Income

Sep 27, 2024

Sep 30, 2024

0.044

X.XXX

Ordinary Income

Aug 29, 2024

Aug 30, 2024

0.11

X.XXX

Ordinary Income

Jul 30, 2024

Jul 31, 2024

0.075

X.XXX

Ordinary Income

Jun 27, 2024

Jun 28, 2024

0.058

X.XXX

Ordinary Income

May 30, 2024

May 31, 2024

0.087

X.XXX

Ordinary Income

Apr 24, 2024

Apr 25, 2024

Apr 26, 2024

0.02

X.XXX

Ordinary Income

Mar 27, 2024

Mar 28, 2024

Apr 1, 2024

0.151

X.XXX

Ordinary Income

Dec 27, 2023

Dec 28, 2023

Dec 29, 2023

0.357

X.XXX

Ordinary Income

Sep 27, 2023

Sep 28, 2023

Sep 29, 2023

0.208

X.XXX

Ordinary Income

Jun 28, 2023

Jun 29, 2023

Jun 30, 2023

0.207

X.XXX

Ordinary Income

Mar 29, 2023

Mar 30, 2023

Mar 31, 2023

0.209

X.XXX

Ordinary Income

Dec 29, 2022

Dec 30, 2022

Jan 3, 2023

0.262

X.XXX

Ordinary Income

Sep 28, 2022

Sep 29, 2022

Sep 30, 2022

0.253

X.XXX

Ordinary Income

Jun 28, 2022

Jun 29, 2022

Jun 30, 2022

0.206

X.XXX

Ordinary Income

Mar 29, 2022

Mar 30, 2022

Mar 31, 2022

0.213

X.XXX

Ordinary Income

Dec 29, 2021

Dec 30, 2021

Dec 31, 2021

0.249

X.XXX

Ordinary Income

Sep 29, 2021

Sep 30, 2021

Oct 1, 2021

0.161

X.XXX

Ordinary Income

Jun 29, 2021

Jun 30, 2021

Jul 1, 2021

0.205

X.XXX

Ordinary Income

Mar 26, 2021

Mar 29, 2021

Mar 30, 2021

0.073

X.XXX

Ordinary Income

Upcoming

XXXXX

Fund holdings and allocations are subject to change and should not be considered recommendations to buy or sell any security.

Premium/Discount

As of:

Dec 18, 2025

MM/DD/YYYY

The table and line graph above 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.

The performance data quoted represents past performance. Past performance does not guarantee future results.

Supplemental Discussion

TrueShares (“Advisor”) will provide a discussion in the event the ETF’s premium or discount has been greater than 2% for seven consecutive trading days.

subadvisor

Opal Capital

Opal Capital is an investment management company that specializes in equity income investing solutions. At Opal Capital, we believe that dividend solutions play a critical role in a portfolio that is often overlooked and underutilized.

Our sole focus is to deliver distinct, stable income producing solutions for our clients. The main tenets of our investment process are a key source of differentiation: high conviction, deep fundamental research, forward looking analysis, and benchmark agnostic allocation.

Request a Meeting

Invest Through Your Brokerage

Send to your Financial Advisor

Discuss how

DIVZ

may fit into your portfolio and whether they align with your investment goals.

Email your advisor

Disclosures

The 30-Day Yield represents net investment income earned by the Fund over the 30-Day period, expressed as an annual percentage rate based on the Fund's share price at the end of the 30-Day period. The 30-Day unsubsidized SEC Yield does not reflect any fee waivers/reimbursements/limits in effect.

Before investing, carefully consider the TrueShares ETFs investment objectives, risks, charges and expenses. Specific information about the TrueShares is contained in the prospectus and a summary prospectus, copies of which may be obtained by visiting www.www.true-shares.com. Read the prospectus carefully before you invest.

The fund is distributed by Paralel Distributors LLC, Member FINRA. Paralel is not affiliated with TrueMark Investments, LLC and Opal Capital.

An investment in TrueShares is subject to numerous risks, including possible loss of principal. The ETFs are subject to the following principal risks: Authorized Participants, Market Makers, and Liquidity Providers Concentration Risk associated with ETFs; Equity Market Risk; Management Risk; Market Capitalization Risk (Large Cap; Mid Cap, Small Cap Stock); Market Risk; New Fund Risk. A full description of risks is in the prospectus.

Opal Dividend Income ETF is also subject to the following risk: As an ETF, the Fund is exposed to the additional risks, including: (1) concentration risk associated with Authorized Participants, market makers, and liquidity providers; (2) costs risks associated with the frequent buying or selling of Fund shares; (3) market prices may differ than the Fund's net asset value; and (4) liquidity risk due to a potential lack of trading volume. Dividend Paying Security Risk. Securities that pay high dividends as a group can fall out of favor with the market, causing these companies to underperform companies that do not pay high dividends. Dividends may also be reduced or discontinued. Equity Market Risk. Common stocks are susceptible to general stock market fluctuations and to volatile increases and decreases in value as market confidence in and perceptions of their issuers change based on various and unpredictable factors including but not limited to: expectations regarding government, economic, monetary and fiscal policies; inflation and interest rates; economic expansion or contraction; and global or regional political, economic and banking crises. Market Capitalization Risk. The Fund may invest is securities across all market cap ranges. The securities of large-capitalization companies may be relatively mature compared to smaller companies and therefore subject to slower growth during times of economic expansion and may also be unable to respond quickly to new competitive challenges, such as changes in technology and consumer tastes. The securities of mid-capitalization companies may be more vulnerable to adverse issuer, market, political, or economic developments than securities of large-capitalization companies and generally trade in lower volumes and are subject to greater and more unpredictable price changes than large capitalization stocks. The securities of small-capitalization companies may be more vulnerable to adverse issuer, market, political, or economic developments than securities of large- or mid-capitalization companies and generally trade in lower volumes and are subject to greater and more unpredictable price changes than large- or mid-capitalization stocks. Depositary Receipts Risk. American Depositary Receipts ("ADRs") have risks similar to those of foreign securities (political and economic conditions, changes in the exchange rates, etc.) and entitle the holder to all dividends and capital gains that are paid out on the underlying foreign shares.

Individual investors should contact their financial advisor or broker dealer representative for more information on True-Shares ETFs.
Investment Products and Services are: NOT FDIC INSURED / MAY LOSE VALUE / NO BANK GUARANTEE.

All registered investment companies, including TrueShares, are obliged to distribute portfolio gains to shareholders at year-end regardless of performance. Trading in TrueShares ETFs will also generate tax consequences and transaction expenses. The information provided is not intended to be tax advice. Tax consequences of dividend distributions may vary by individual taxpayer. ETF Risks. As an ETF, the Fund is exposed to the additional risks, including: (1) concentration risk associated with Authorized Participants, market makers, and liquidity providers; (2) costs risks associated with the frequent buying or selling of Fund shares; (3) market prices may differ than the Fund's net asset value; and (4) liquidity risk due to a potential lack of trading volume. Dividend Paying Security Risk. Securities that pay high dividends as a group can fall out of favor with the market, causing these companies to underperform companies that do not pay high dividends. Dividends may also be reduced or discontinued. Equity Market Risk. Common stocks are susceptible to general stock market fluctuations and to volatile increases and decreases in value as market confidence in and perceptions of their issuers change based on various and unpredictable factors including but not limited to: expectations regarding government, economic, monetary and fiscal policies; inflation and interest rates; economic expansion or contraction; and global or regional political, economic and banking crises. Market Capitalization Risk. The Fund may invest is securities across all market cap ranges. The securities of large-capitalization companies may be relatively mature compared to smaller companies and therefore subject to slower growth during times of economic expansion and may also be unable to respond quickly to new competitive challenges, such as changes in technology and consumer tastes. The securities of mid-capitalization companies may be more vulnerable to adverse issuer, market, political, or economic developments than securities of large-capitalization companies and generally trade in lower volumes and are subject to greater and more unpredictable price changes than large capitalization stocks. The securities of small-capitalization companies may be more vulnerable to adverse issuer, market, political, or economic developments than securities of large- or mid-capitalization companies and generally trade in lower volumes and are subject to greater and more unpredictable price changes than large- or mid-capitalization stocks. Depositary Receipts Risk. American Depositary Receipts ("ADRs") have risks similar to those of foreign securities (political and economic conditions, changes in the exchange rates, etc.) and entitle the holder to all dividends and capital gains that are paid out on the underlying foreign shares.

True-Shares ETFs are bought and sold through exchange trading at market price, not Net Asset Value (NAV), and are not individually redeemed from the fund. Shares may trade at a premium or discount to their NAV in the secondary market. Brokerage commissions will reduce returns.

ETF shares may be bought or sold throughout the day at their market price, not their NAV, on the exchange on which they are listed. Shares of ETFs are tradable on secondary markets and may trade either at a premium or a discount to their NAV on the secondary market.

ETFs trade like stocks, fluctuate in market value and may trade at prices above or below the ETF's NAV. Brokerage commissions and ETF expenses will reduce returns.
TrueShares ETFs (the "Funds") are registered with the United States Securities and Exchange Commission under the Investment Company Act of 1940.

Find out more about the background of this firm on FINRA's BrokerCheck.

TrueMark Investments, LLC is the investment advisor to the Funds and receives a fee from the Funds for its services.

TrueShares ETFs are offered only to United States residents, and information on this site is intended only for such persons. Nothing on this website should be considered a solicitation to buy nor an offer to sell shares of any fund in any jurisdiction where the offer or solicitation would be unlawful under the securities laws of such jurisdiction.

30-Day Median Bid-Ask Spread: Gives investors the midpoint within the spread between an ETF’s selling price and buying price. It is calculated over the last 30 days in 10 second intervals by dividing the difference between the bid (sell price) and offer (buy price) by the midpoint of the National Best Bid Offer (NBBO) and identifying the median of those values.