SEPZ TrueShares Structured Outcome (September) ETF
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Since Sep 1, 2026, SEPZ lost 0.2%, against SPX's 0.1% price return. It can fall 0.2% before its buffer.
Promise check: Not measuredNo outcome period of its has finished in ETFIQ's record (snapshots from Sep 4, 2026).
SEPZ risk and return scorecard
vs SPY · Sep 2020 to Oct 2026 · 319 weekly returns · dividend-adjusted
Computed by ETFIQ from Tiingo daily prices and ETFIQ's distribution records; risk-free rate: U.S. Treasury, Daily Treasury Bill Rates, 13-week coupon equivalent Method · Data
Money in and out
Net fund flows · Jun 30, 2026What you earned
Where does it stand in this outcome period?
Outcome period Sep 1, 2026 to Aug 31, 2027More on SEPZ
Every number below is on this page. Open what you need.Price, 1 year
$46.52+0.2%1 day, priceClose, Oct 28, 2026
Price only. Total return over the same days, distributions reinvested, was +9.8%. Computed by ETFIQ from Tiingo daily prices.
Source: Tiingo end-of-day prices. Data as of Oct 28, 2026. Updated every trading night. Report a data error
Points (pts) are percentage points.
| Window | Total return | SPX price return | Gap to SPX |
|---|---|---|---|
| 1M Sep 28 – Oct 28, 2026 | +0.6% | +0.9% | −0.3 pts |
| 3M Jul 29 – Oct 28, 2026 | +4.8% | +5.9% | −1.1 pts |
| 6M Apr 29 – Oct 28, 2026 | +6.9% | +8.5% | −1.6 pts |
| YTD Dec 31, 2025 – Oct 28, 2026 | +10.1% | +13.3% | −3.2 pts |
| 1Y Oct 28, 2025 – Oct 28, 2026 | +9.8% | +12.4% | −2.6 pts |
| 3Y Oct 27, 2023 – Oct 28, 2026 | +64.2% | +88.1% | −23.9 pts |
| 5Y Oct 29, 2021 – Oct 28, 2026 | +63.0% | +68.2% | −5.2 pts |
| Since launch Sep 1, 2020 – Oct 28, 2026 | +105.2% | +119.0% | −13.8 pts |
| Since launch, annualised Sep 1, 2020 – Oct 28, 2026 | +12.4% | – | – |
Total returns, distributions reinvested. SPX's column is its price return, dividends left out: the basis the outcome period uses.
Source: Tiingo end-of-day prices, with distributions reinvested.
SEPZ: reference +0.1% since period start, fund −0.2%; buffer 0 to −10; no cap; No cap. Data to Oct 26, 2026.
How much of a bear-market fall the buffer would absorb from today's level, ranked against 292 buffer ETFs on stocks with a live outcome period. 100 is best. How it is computed
SEPZ absorbs 50% of the next 20% fall in what it tracks.
Money in and out
Monthly data · as of Jun 30, 2026SEPZ: in the month to Jun 30, 2026, net $2.8m went out, by its SEC filing.
monthly, from SEC filings
monthly, from SEC filings
Computed by ETFIQ from the monthly sales and redemptions SEPZ files with the SEC on Form N-PORT.
How this is computed
ETFIQ reads no daily data for this fund, so its flows are monthly, and the latest month filed is Jun 2026. Every day and month ETFIQ holds for SEPZ, back to Jul 2025, is in its flows file. Flows across every fund · How these flows are computed · Compare SEPZ with other funds in the flows tool
Month by month, money in and money outJul 2025 to Jun 2026
SEPZ, money in and money out each month from Jul 2025 to Jun 2026: two bars a month, money in above the line and money out below. Every bar is from SEPZ’s SEC filings (N-PORT item B.6). Of the 12 months listed, money came in on net in 6 and went out in 5.
Every bar is from SEPZ’s SEC filings (N-PORT item B.6). Of the 12 months listed, money came in on net in 6 and went out in 5.
Most recent first.
How this is computed
N-PORT months: money in is sales plus reinvestments; money out is redemptions.
N-PORT months are the filed sales plus reinvestments less redemptions. Later months add up the daily data; the Source column names any missing day.
Source: ETFIQ, from the fund’s SEC N-PORT filings. Data as of Jun 30, 2026. Updated when the fund files its next report.
SEPZ key stats
Trading
as of Mar 13, 2026
If the market falls into a bear market from here, how much does the buffer absorb?
That is the share of the 292 buffer ETFs on stocks with a live outcome period sitting at or below SEPZ.
Today's position against one 20% fall; it ignores smaller falls, and stock buffers are never ranked against bond or commodity ones. Where the fund sits in this set, not a rating. Do not average it with another category's score.
About SEPZ
How we measure
12 seats on SEPZ, as of Oct 28, 2026: 1 Supports, 2 Challenges, 7 Not enough data, 2 Does not apply.
Questions people ask about SEPZ
- 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?
- 0.2% in fund-price terms on Oct 26, 2026, by the issuer's number. In index terms SPX can fall 0.1% from that level before the buffer begins. Losses until that point are the holder's.
- How much of the SEPZ buffer is left?
- 10.0% of the 10.0% buffer sat below the SPX level on Oct 26, 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, 309 days from the data on Oct 26, 2026. New terms are set the next day and the buffer starts again.
- What does SEPZ cost?
- The prospectus expense ratio is 0.79% a year.
Links are sources, not endorsements.
Cite this pageCitation, APA and Markdown
ETFIQ, SEPZ, buffer ETFs, data as of Oct 26, 2026. https://etfiq.com/funds/sepz
ETFIQ. (Oct 26, 2026). SEPZ, buffer ETFs. Retrieved from https://etfiq.com/funds/sepz
[SEPZ, buffer ETFs (ETFIQ, Oct 26, 2026)](https://etfiq.com/funds/sepz)
The outcome band for SEPZ, redrawn every trading night.
Free to use with attribution for data ETFIQ computes; issuer data stays under its owner's terms. The underlying files are at Open data.
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<figure style="margin:0;max-width:640px">
<a href="https://etfiq.com/funds/sepz"><img src="https://etfiq.com/assistant/api/embed/buffer/sepz.svg" alt="SEPZ: SEPZ: reference +0.1% since period start, fund −0.2%; buffer 0 to −10; no cap; No cap. Data to Oct 26, 2026." width="640" style="max-width:100%;height:auto"></a>
<figcaption style="font:13px/1.5 sans-serif">SEPZ: SEPZ: reference +0.1% since period start, fund −0.2%; buffer 0 to −10; no cap; No cap. Data to Oct 26, 2026. Data: <a href="https://etfiq.com/funds/sepz">ETFIQ</a></figcaption>
</figure>The day's ETF flows, a comparison and one number. Every trading morning. About the Daily
Snapshot, Oct 26, 2026. More on the tabs above.