Through strategically laddered put options, PVEX aims to balance growth potential with reduced equity market risk

Today, TrueShares announced the launch of the TrueShares ConVex Protect ETF (PVEX), an actively managed ETF designed to help investors manage downside risk while maintaining meaningful equity exposure.

PVEX is designed to offer investors the potential for meaningful capital appreciation by utilizing call options tied to U.S. large-cap equities, enabling investors to potentially achieve convex return participation in upside market moves, after a modest 6% hurdle has been cleared. At the same time, through strategically laddered put options, PVEX is designed to considerably reduce losses during periods of market downturn. 

“With PVEX, we’re providing a powerful new portfolio construction tool for those seeking capital appreciation but with considerable reduced downside exposure relative to the overall U.S. large cap equity category,” said Mike Loukas, CEO of TrueMark Investments. “Investors searching for greater upside potential without sacrificing risk mitigation may find the approach pioneered by this fund to be a versatile complement to existing core holdings and commonly used volatility management approaches with limited appreciation profiles such as indexed annuities or capped buffered ETFs.”

PVEX is actively managed by Jeffrey Feldman, Portfolio Manager and Quantitative Risk Manager for TrueMark Investments. Prior to joining TrueMark, Feldman spent more than 20 years with Wolverine Trading, where he was responsible for risk management and trading of ETFs.

This new ETF joins a growing suite of TrueShares ETFs designed to provide opportunities for capital appreciation with reduced volatility. Since 2020, the firm has been at the forefront of the uncapped buffer ETF space with 12 funds in its uncapped buffered suite, each tied to a particular month, that seek upside exposure while partially mitigating losses (in the 8-12% range) through options strategies. In January of 2025, the firm also launched ONEZ – a fund-of-funds ETF that dynamically allocates across TrueShares’ innovative families of Structured Outcome ETFs and Quarterly Bull/Bear ETFs. Investor and advisor interest in TrueShares’ solutions has been growing and the firm recently celebrated surpassing the $1 billion asset threshold across its full lineup of ETFs, as of May 30, 2025.

“We remain committed to delivering practical investment strategies that seek to help investors reach their financial goals,” added Loukas. “Today’s dynamic markets require dynamic solutions, and we’re excited to tell the marketplace more about PVEX and our full range of funds.”

For more information about PVEX, please visit: true-shares.com/pvex

About TrueMark Investments

At TrueMark, we serve investors with unique portfolio solutions, in an ETF structure, that deliver true exposure to a variety of asset classes, strategies, and industries. With over $1 billion in assets under management as of May 2025, our suite of internally managed and sub-advised ETFs pair specialized investment expertise with industry knowledge to power investment management decisions. For more information on the firm’s full lineup of TrueShares ETFs, please visit true-shares.com.

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

The Fund may not achieve its objective and/or you could lose money on your investment in the Fund. The Fund is recently organized with no operating history for prospective investors to base their investment decision which may increase risks. Some of the Fund’s key risks, include but are not limited to the following risks. Please see the Fund’s prospectus for further information on these and other risk considerations.

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.

FLEX Options Risk. The Fund may invest in FLEX Options issued and guaranteed for settlement by the OCC. The Fund bears the risk that the OCC will be unable or unwilling to perform its obligations under the FLEX Options contracts. Additionally, FLEX Options may become illiquid, and in such cases, the Fund may have difficulty closing out certain FLEX Options positions at desired times and prices.

TrueShares 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 apply and will reduce returns.  Investing involves risk, including the loss of principal.

The TrueShares ConVex Protect ETF is also subject to the following risks:

• Options Risk.  Buying and selling (writing) options are speculative activities and entail greater investment risks.
• Derivatives Risk.  Derivatives may be more sensitive to changes in economic or market conditions than other types of investments.
• Active Management Risk. The adviser’s judgments about an investment may prove to be incorrect or fail to have the intended results, which could adversely impact the Fund’s performance.
• Buffered Loss Risk. There can be no guarantee that the Fund will be successful in its strategy to buffer against underlying ETF price declines. Despite the intended hedge period buffer, a shareholder may lose money by investing in the Fund.
• Underlying Funds Risk. An Underlying Fund’s assets may be invested in a limited number of securities which may subject the Underlying Fund, and thus the Fund, to greater risk and volatility than if investments had been made in a larger number of securities.
• 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.
• Fixed Income Securities Risk. When an underlying ETF invests in fixed income securities, the value of your investment in the Fund will fluctuate with changes in interest rates. Typically, a rise in interest rates causes a decline in the value of fixed income securities owned by the Fund. In general, the market price of fixed income securities with longer maturities will increase or decrease more in response to changes in interest rates than shorter-term securities.

TrueMark Investments, LLC is the investment advisor to the Funds and receives a fee from the Funds for its services. The fund is distributed by Paralel Distributors LLC, Member FINRA. Paralel is not affiliated with TrueMark Investments, LLC.

NOT FDIC INSURED — NO BANK GUARANTEE — MAY LOSE VALUE

TRUE185

Definitions –

Call Options: A call option is a contract that gives the option buyer the right to buy an underlying asset at a specified price within a specific time period.

Put Options: A put option is a financial contract that comes with the right to sell a certain asset at a certain price, even if the market price is lower.

Convex Return Participation: Convex return participation, also known as positive convexity, refers to an investment strategy or asset that exhibits a non-linear, upward-curving payoff relative to its benchmark or a relevant market variable.