ETF Evaluator:
TrueShares ConVequityt ETF ()
Follow This ETF
(as of Aug 26)
Best Performing in Large Blend Over the Last Year
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Risk
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Risk
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ETF Details
TrueShares ConVequityt ETF Overview
TrueShares ConVequityt ETF (PVEX) is an actively managed U.S. Equity Large Blend 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 aims to provide the benefits of partial U.S. large cap equity market exposure while mitigating a meaningful portion of the risk posed by a decline in U.S. large cap equity markets. The fund is non-diversified.
About TrueShares ConVequityt ETF (PVEX)
There are 1 members of the management team with an average tenure of 1.09 years: Jeffrey Feldman (2025). Management tenure is more important for actively managed ETFs than passive index ETFs.
TrueShares ConVequityt ETF has 106 securities in its portfolio. The top 10 holdings constitute 84.5% 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 ConVequityt ETF is part of the Equity global asset class and is within the U.S. Equity ETF group. TrueShares ConVequityt ETF has 18.1% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 17.5% There is 9.4% allocated to foreign stock, and 0.0% is allocated to preferred stocks. The bond allocation as a percentage of total assets is 56.1% (47.5% domestic bond, 8.6% foreign bond and 0.0% convertible bond). TrueShares ConVequityt ETF has 17.0% of the portfolio in cash.
Assets Under Management
The fund has $55 million in total assets, which is below the $13 billion average for the Large Blend 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.
PVEX 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 ConVequityt ETF expense ratio is high compared to funds in the Large Blend category. TrueShares ConVequityt ETF has an expense ratio of 0.82%, which is 98% 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 ConVequityt ETF has a portfolio turnover rate of 15%, which indicates that it holds its assets around / 0.1 years. By way of comparison, the average portfolio turnover is 158% for the Large Blend category.
Recently, in the month of July 2026, TrueShares ConVequityt ETF returned -0.8%, which earned it a grade of D, as the Large Blend category had an average return of -0.8%. 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 ConVequityt ETF has a trailing yield of 0.18%, which is below the 1.16% 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 ConVequityt ETF Grades
Year to date, the ETF has returned 6.9%, 2.6 percentage points worse than the category, which translates into a grade of F. The fund has returned 17.0% over the past year (grade of D).
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PVEX 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 |
|
| PVEX Return (NAV) | -0.8% | 2.3% | 17.0% | na | na | na |
| PVEX Return (Price) | -0.8% | 2.5% | 16.8% | na | na | na |
| NAV +/- Price Return | 0.014% | -0.132% | 0.212% | na | na | na |
| Large Blend Avg | -0.8% | 3.7% | 17.5% | 17.4% | 11.2% | 13.6% |
| PVEX Grade (NAV) | D | F | D | na | na | na |
| +/- Category (NAV) | 0.0% | -1.4% | -0.5% | na | na | na |
| PVEX Tax-Cost Ratio | na | na | 0.1% | na | na | na |
PVEX Annual NAV Total ReturnsData as of 7/31/26
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
| PVEX Return (NAV) | 6.9% | na | na | na | na | na | na | na | na | na | na |
| PVEX Return (Price) | 6.9% | na | na | na | na | na | na | na | na | na | na |
| NAV +/- Price Ret | 0.002% | na | na | na | na | na | na | na | na | na | na |
| Large Blend Avg | 9.5% | 15.3% | 21.9% | 22.9% | -17.1% | 26.9% | 18.3% | 29.6% | -5.1% | 21.5% | 11.4% |
| PVEX Grade (NAV) | F | na | na | na | na | na | na | na | na | na | na |
| +/- Category | -2.6% | 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: | 0.2% |
| Total Assets: | $ 56 Mil |
| Share Class Assets: | $ 56 Mil |
| Turnover: | 15.0% |
| Expense Ratio: | 0.82% |
| 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: 1.1 years | |||
| Average Tenure: 1.1 years | |||
| Managers (Year): Feldman Jeffrey (2025) | |||
Portfolio Composition (as of 7/31/26)
| # of Holdings: | 106 |
| % in Top 10 Holdings: | 84.5% |
| Fund is Non-Diversified: | Yes |
| % in Foreign Issues: | 18.1% |
Portfolio Allocation |
|
| Domestic Stock: | 17.5% |
| Foreign Stock: | 9.4% |
| Preferred Stock: | 0.0% |
| Domestic Bond: | 47.5% |
| Foreign Bond: | 8.6% |
| Convertible Bond: | 0.0% |
| Other: | 0.0% |
| Cash: | 17.0% |
Purchase Information
| Legal Structure: | Open Ended Investment Company |
| Fund Family: | TrueShares |
| Phone Number: | 877-524-9155 |
| Website: | |
| Inception Date: | June 27, 2025 |
Expenses and Fees
| Expense Ratio (%): | 0.82% (Rating: High) |
| Category Average Expense Ratio (%): | 0.41% |
