# SEPZ (TrueShares Structured Outcome (September) ETF)

TrueShares · Buffer ETFs · data as of Sep 11, 2026

As of Sep 11, 2026, SEPZ has no cap on its upside, and resets in 355 days.

## Key facts

- SEPZ, can still gain: uncapped, as of Sep 11, 2026.
- SEPZ, fall before the buffer: 0.5%, as of Sep 11, 2026.
- SEPZ, protection left, index points: 9.6%, as of Sep 11, 2026.
- SEPZ, days to reset: 355, as of Sep 11, 2026.
- SEPZ, net assets: $129m (issuer page, as of Sep 11, 2026).
- SEPZ, expense ratio: 0.79% (issuer page, Sep 11, 2026).

## Every published field

| Field | Value | Source |
| --- | --- | --- |
| Reference index | SPX | ETFIQ |
| Buffer | 10% | ETFIQ |
| Outcome period | Sep 1, 2026 to Aug 31, 2027 | ETFIQ |
| Starting cap | uncapped | ETFIQ |
| Estimated upside participation | 83.0% to 85.0% | ETFIQ |
| SPX return since period start | −0.4% | ETFIQ |
| Fund return since period start | −0.4% | ETFIQ |
| Net assets | $129m | issuer page, as of Sep 11, 2026 |
| Band state today | Buffer working | ETFIQ |
| Can still gain | uncapped | issuer, fund price |
| Fall before buffer | 0.5% | issuer, fund price |
| Fall to the buffer in index terms | 0.0% | ETFIQ |
| Protection left in index points | 9.6% of 10.0% | ETFIQ |
| Days left in period | 355 | ETFIQ |
| Expense ratio | 0.79% | issuer page, Sep 11, 2026 |

## Questions

### Does SEPZ have a cap?

No. SEPZ takes a share of any further rise in SPX, so there is no ceiling on the upside this period.

### How far can SEPZ fall before the buffer helps?

0.5% in fund-price terms on Sep 11, 2026, by the issuer's figure. In index terms SPX can fall 0.0% from that level before the buffer begins. Losses until that point are the holder's.

### How much of the SEPZ buffer is left?

9.6% of the 10.0% buffer sat below the SPX level on Sep 11, 2026. That is an ETFIQ calculation in index points, on one definition for every issuer.

### When does SEPZ reset?

The outcome period ends on Aug 31, 2027, 355 days from the data on Sep 11, 2026. A new cap is set the next day and the buffer starts again.

### What does SEPZ cost?

The prospectus expense ratio is 0.79% a year.


## Cite this page

ETFIQ, SEPZ, data as of Sep 11, 2026. https://etfiq.com/funds/SEPZ
Free to use with attribution; the underlying files are at https://etfiq.com/data/.

HTML: https://etfiq.com/funds/SEPZ  ·  JSON: https://etfiq.com/funds/SEPZ.json