About this ETF
TRIO is a fund-of-funds designed to protect against the first 10% of losses in equity exposure, using customized put and call FLEX options. Positions are established based on macro views on metrics such as employment metrics, earnings estimates, market valuations, and US GDP growth relative to developed and developing economies. The strategy involves option spreads, buying and selling both puts and calls. The objective is to provide hedged equity exposure. Although the strategy is designed to mitigate downside risk, it may not always be successful, and options-related costs could impact performance. The sub-adviser consistently monitors market conditions in rebalancing the portfolio, typically on a quarterly basis, to protect capital or lock in some gains. Additionally, the buffer and cap are adjusted based on market conditions and the cost of available options.
Description from the fund data provider · profile as of Oct 24, 2026.
Price Chart
Daily closing prices (price return, not total return). Comparison lines are normalized to percent change from the range start. Source: Financial Modeling Prep.
Performance
| 1M | 3M | 6M | YTD | 1Y | 3Y* | 5Y* | 10Y* | Incep.* | |
|---|---|---|---|---|---|---|---|---|---|
| Price return | -0.58% | +1.61% | +3.75% | +7.33% | +0.06% | — | — | — | +6.19% |
| Total return | -0.58% | +1.61% | +3.75% | +7.33% | +0.06% | — | — | — | +6.19% |
* Annualized. Total return uses the dividend-adjusted price series (distributions reinvested); price return uses unadjusted closes. Performance through Oct 23, 2026. Past performance does not guarantee future results.
Fees
| Net expense ratio | 0.70% | Annual cost of a $10,000 investment | $70.00 |
Illustrative calculation only: expense ratio × $10,000. It excludes trading costs, bid/ask spreads, taxes and changes in investment value. Gross vs. net expense details and any fee waivers are in the prospectus.
Holdings
Holdings list retrieved Oct 23, 2026 · The data provider's latest disclosed portfolio for this fund. Issuers publish holdings daily or monthly, so the portfolio date can be earlier; holdings are not live positions. 14 holdings stored.
| # | Holding | Ticker | Weight | Shares | Market Value |
|---|---|---|---|---|---|
| 1 | SPY 06/17/2027 7.5 C | — | 68.98% | 1.13K | $85.0M |
| 2 | IWM 12/18/2026 2.52 C | — | 15.30% | 691 | $18.9M |
| 3 | EFA 06/17/2027 1.09 C | — | 13.90% | 1.71K | $17.1M |
| 4 | SPY 06/17/2027 750.33 P | — | 2.63% | 1.13K | $3.2M |
| 5 | First American Government Obligations Fund… | — | 1.10% | 1.35M | $1.4M |
| 6 | EFA 06/17/2027 108.64 P | — | 1.05% | 1.71K | $1.3M |
| 7 | IWM 12/18/2026 252.08 P | — | 0.13% | 691 | $160.0K |
| 8 | Cash & Other | — | -0.04% | -52.14K | -$50.0K |
| 9 | IWM 12/18/2026 226.87 P | — | -0.05% | -691 | -$60.0K |
| 10 | IWM 12/18/2026 291.66 C | — | -0.17% | -691 | -$210.0K |
| 11 | EFA 06/17/2027 115.52 C | — | -0.19% | -1.71K | -$230.0K |
| 12 | EFA 06/17/2027 97.78 P | — | -0.45% | -1.71K | -$550.0K |
| 13 | SPY 06/17/2027 858.15 C | — | -0.86% | -1.13K | -$1.1M |
| 14 | SPY 06/17/2027 675.3 P | — | -1.33% | -1.13K | -$1.6M |
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Distributions
| Yield (TTM) | 8.39% | Paid (last 12 months) | $5.5035 |
| Frequency | Irregular | SEC yield | Not provided by our data source; see the issuer page |
| Last ex-date | Dec 23, 2025 | Last payment | $5.5035 (Dec 24, 2025) |
| Growth 1Y | — | Growth 3Y / 5Y (ann.) | — / — |
| Ex-date | Record | Pay date | Amount |
|---|---|---|---|
| Dec 23, 2025 | Dec 23, 2025 | Dec 24, 2025 | $5.5035 |
Trailing distribution yield = last 12 months of cash ÷ current price. It is NOT the SEC 30-day yield and distributions are not guaranteed to continue. The difference explained →
Risk Statistics
| Volatility 1Y / 3Y | 10.46% / — | Sharpe 1Y / 3Y | -0.412 / — |
| Max drawdown 1Y / 3Y | -11.07% / — | Sortino 1Y | -0.467 |
| Beta vs S&P 500 (3Y) | 0.552 | Correlation vs S&P 500 (1Y) | 0.56 |
| Downside deviation 1Y | 9.24% | Risk-free rate used | 4.04% (3M T-bill, FRED) |
Computed by ETF Explorer from daily dividend-adjusted closes; volatility and drawdown are annualized/period figures; S&P 500 exposure proxied by SPY. As of Oct 25, 2026. Formulas →
Liquidity
| Volume today | 1.83K | Average volume | 1.36K |
| AUM | $122.7M | Premium/Discount | -0.03% |
| Bid/Ask spread | Not provided by our data source. Check your broker's quote screen; spreads are widest at the open and close. | ||
Premium/discount compares the delayed market price with the last reported NAV: an indicative figure, not the official closing premium/discount. How ETF liquidity works →
Fund Flows (estimated)
| Period | Est. net flow | % of starting AUM | AUM start → end |
|---|---|---|---|
| 1 Week | -$62.6K | -0.05% | $122.8M → $122.7M |
| 1 Month | $219.6K | +0.18% | $123.2M → $122.7M |
ETF Explorer estimate: change in reported AUM minus the market-move effect, from our own daily snapshots. Not official issuer creation/redemption data.
Official Fund Resources
External links open the issuer's site or SEC EDGAR in a new tab. The prospectus and official documents are always the authoritative source; review them before investing.
Latest News for TRIO
No articles mention this fund directly in the last 7 days; showing general ETF coverage.
Guided help: AUM is fund size. The expense ratio is the yearly cost baked into returns. NAV is the value of what the fund owns per share; the market price can sit slightly above (premium) or below (discount) it. Total return assumes distributions were reinvested. Every dataset shows its own as-of date because holdings, assets and quotes update on different schedules.
TRIO