ETF Evaluator:
TrueShares Seasonality Laddered Buf ETF ()
Follow This ETF
(as of Aug 26)
Best Performing in Defined Outcome Over the Last Year
| 23.7% | Innovator U.S. Small Cp Pwr Buf ETF -Nov (KNOV) |
| 23.2% | Innovator U.S. Small Cp Pwr Buf ETF -Feb (KFEB) |
| 21.9% | Innovator U.S. Small Cp Pwr Buf ETF -Mar (KMAR) |
| 21.9% | Innovator US Small Cap Pwr Buff ETF™ Oct (KOCT) |
| 21.1% | FT Vest U.S. Small Cap Mod Buf ETF-Feb (SFEB) |
Risk
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Risk
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ETF Details
TrueShares Seasonality Laddered Buf ETF Overview
TrueShares Seasonality Laddered Buf ETF (ONEZ) is an actively managed Nontraditional Equity Defined Outcome exchange-traded fund (ETF). TrueShares launched the ETF in 2025.
The investment seeks capital appreciation with the potential for lower volatility relative to the broader U.S. large cap equity market.
The fund is an actively managed exchange-traded fund (“ETF”) that seeks to achieve its investment objective by using a fund-of-funds approach. Under normal market conditions, the adviser anticipates that the fund will invest 85-90% of its assets in the Buffered ETFs and 10-15% of its assets in the Hedged ETFs. The fund is non-diversified.
About TrueShares Seasonality Laddered Buf ETF (ONEZ)
There are 1 members of the management team with an average tenure of 1.52 years: Jeffrey Feldman (2025). Management tenure is more important for actively managed ETFs than passive index ETFs.
TrueShares Seasonality Laddered Buf ETF has 16 securities in its portfolio. The top 10 holdings constitute 75.6% of the ETF’s assets. The ETF meets the SEC requirement of being classified as a nondiversified fund. The ETF is not considered to have an ESG focus with its investment selection and management.
TrueShares Seasonality Laddered Buf ETF is part of the Equity global asset class and is within the Nontraditional Equity ETF group. TrueShares Seasonality Laddered Buf ETF has 0.0% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 6.8% There is 0.0% allocated to foreign stock, and 0.0% is allocated to preferred stocks. The bond allocation as a percentage of total assets is 62.2% (62.2% domestic bond, 0.0% foreign bond and 0.0% convertible bond). TrueShares Seasonality Laddered Buf ETF has 31.0% of the portfolio in cash.
Assets Under Management
The fund has $338 million in total assets, which is above the $183 million average for the Defined Outcome category. Normally, lower assets under management translates to higher average expense ratios, and greater total assets are desired. However, for some investment categories, such as small-cap investing, it may be difficult for the manager to fully employ the desired active strategy if assets grow too large or too quickly.
ONEZ Performance and Fees
The expense ratio measures how much of a fund’s assets are used for administrative expenses and operating expenses, including adviser fees and fees for the transfer agent and custodial services. The TrueShares Seasonality Laddered Buf ETF expense ratio is high compared to funds in the Defined Outcome category. TrueShares Seasonality Laddered Buf ETF has an expense ratio of 0.96%, which is 34% higher than its category average, making the fund expense ratio grade a F. While it is difficult to predict returns, it is known that high annual expense ratios reduce your rate of return, and excessive fees are difficult to overcome. Active management normally comes with higher expense ratios than passive index management. Certain investment categories such as small company and foreign also normally have higher expense ratios. It is best to compare fund expense ratios against the category averages for meaningful assessments.
High portfolio turnover can translate to higher expenses and lower aftertax returns. TrueShares Seasonality Laddered Buf ETF has a portfolio turnover rate of 136%, which indicates that it holds its assets around / 0.0 years. By way of comparison, the average portfolio turnover is 3% for the Defined Outcome category.
Recently, in the month of July 2026, TrueShares Seasonality Laddered Buf ETF returned -0.2%, which earned it a grade of F, as the Defined Outcome category had an average return of 0.2%. The letter grades of A, B, C, D and F are based upon relative rankings within the investment category. A grade of A, for example, would indicate that the return is in the highest 20% for that time period compared to all ETFs in that category.
TrueShares Seasonality Laddered Buf ETF has a trailing yield of 3.73%, which is above the 0.48% category average.
The fund normally distributes its income annually and its capital gains annually.
It’s natural to seek the best-performing investments, but you must consider the relationship between risk and return and the impact of costs and taxes on your realized returns.
TrueShares Seasonality Laddered Buf ETF Grades
Year to date, the ETF has returned 6.5%, 0.7 percentage points better than the category, which translates into a grade of C. The fund has returned 12.0% over the past year (grade of C).
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ONEZ Trailing NAV Total Returns Data as of 7/31/26
| Last Month |
Last Quarter |
Ann'l. 1Yr |
Ann'l. 3Yr |
Ann'l. 5Yr |
Ann'l. 10Yr |
|
| ONEZ Return (NAV) | -0.2% | 2.7% | 12.0% | na | na | na |
| ONEZ Return (Price) | -0.3% | 2.3% | 11.0% | na | na | na |
| NAV +/- Price Return | 0.057% | 0.345% | 1.001% | na | na | na |
| Defined Outcome Avg | 0.2% | 2.2% | 11.3% | 11.8% | 8.6% | na |
| ONEZ Grade (NAV) | F | C | C | na | na | na |
| +/- Category (NAV) | -0.4% | 0.5% | 0.7% | na | na | na |
| ONEZ Tax-Cost Ratio | na | na | 1.6% | na | na | na |
ONEZ Annual NAV Total ReturnsData as of 7/31/26
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
| ONEZ Return (NAV) | 6.5% | na | na | na | na | na | na | na | na | na | na |
| ONEZ Return (Price) | 6.0% | na | na | na | na | na | na | na | na | na | na |
| NAV +/- Price Ret | -0.082% | na | na | na | na | na | na | na | na | na | na |
| Defined Outcome Avg | 5.8% | 11.3% | 12.4% | 18.5% | -8.8% | 9.7% | 7.7% | 16.4% | -6.7% | 15.8% | na |
| ONEZ Grade (NAV) | C | na | na | na | na | na | na | na | na | na | na |
| +/- Category | 0.7% | na | na | na | na | na | na | na | na | na | na |
| Risk Measures | |
| Beta: | na |
| R-Squared: | na |
| Standard Deviation: | na |
| Category Risk Index: | na |
| Category Risk Rating: | |
| Total Risk Index: | na |
| Total Risk Rating: | |
| Portfolio Characteristics | |
| Yield: | 3.7% |
| Total Assets: | $ 339 Mil |
| Share Class Assets: | $ 339 Mil |
| Turnover: | 136.0% |
| Expense Ratio: | 0.96% |
| Index Fund: | No |
| Index Tracked: | N/A |
| Index Weighting: | 100% |
| Leveraged: | No |
| Socially Responsible Fund: | No |
| Capital Gains Distribution Frequency: | Annually |
| Income Distribution Frequency: | Annually |
Management Team
| Number of Managers: 1 | |||
| Longest Tenure: 1.5 years | |||
| Average Tenure: 1.5 years | |||
| Managers (Year): Feldman Jeffrey (2025) | |||
Portfolio Composition (as of 7/31/26)
| # of Holdings: | 16 |
| % in Top 10 Holdings: | 75.6% |
| Fund is Non-Diversified: | Yes |
| % in Foreign Issues: | 0.0% |
Portfolio Allocation |
|
| Domestic Stock: | 6.8% |
| Foreign Stock: | 0.0% |
| Preferred Stock: | 0.0% |
| Domestic Bond: | 62.2% |
| Foreign Bond: | 0.0% |
| Convertible Bond: | 0.0% |
| Other: | 0.0% |
| Cash: | 31.0% |
Purchase Information
| Legal Structure: | Open Ended Investment Company |
| Fund Family: | TrueShares |
| Phone Number: | 877-774-8783 |
| Website: | |
| Inception Date: | January 24, 2025 |
Expenses and Fees
| Expense Ratio (%): | 0.96% (Rating: High) |
| Category Average Expense Ratio (%): | 0.72% |
