Today, TrueMark Investments added to its lineup with the launch of a defined outcome ETF that resets at the start of every January. The TrueShares Structured Outcome (January) ETF (JANZ) looks to replicate the performance of the S&P 500 Price Index with slightly reduced upside participation and downside protection of roughly 10%.
JANZ comes with an expense ratio of 0.79% and lists on Cboe Global Markets, the parent company of ETF.com.
The TrueShares are unique among the pantheon of defined outcome ETFs. They do not target a specific downside buffer, but a range of 8-12%, with 10% protection being the goal for the entire outcome period. As for the upside, they do not have a set cap, but instead seek to give investors reduced exposure to the upside in the area of 85% so that investors never find their participation in market upside halted entirely.
According to Mike Loukas, CEO of TrueMark, the funds have been used in risk parity strategies, tactical trading, core equity exposure and for volatility management, among other purposes. The funds aim to allow investors to meet their portfolio goals in the face of high volatility and low yields.
The TrueShares defined outcome ETFs invest in flexible exchange (FLEX) options on the S&P 500 Price Index or ETFs tracking that index. There are six other ETFs in this family of funds that reset every July, August, September, October, November and December.
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