Summary
PAYM Chart
TrueShares S&P Autocallable Defensive Income ETF Investors
| Name | Quantity | Cost | Value | Profit ($) | Gain (%) |
|---|---|---|---|---|---|
| CAL CoreCap Advisors LLC CoreCap Advisors LLC | 17 | $427.04 | $436.05 | $9.01 | 2.11% |
| NS Nicholas Shaheen FSA Advisors Inc. | 11,717 | $257,190 | $298,783.5 | $41,593.5 | 16.17% |
| RS Radon Stancil POM Investment Strategies LLC | 25,264 | $554,551 | $644,954.55 | $90,403.55 | 16.3% |
| JF Joshua Frierdich Mid-American Wealth Advisory Group Inc. | 1.81M | $45.51M | $46.14M | $634,055.45 | 1.39% |
 Brian Szymczak FSR Wealth Management Ltd. | 33,728 | $740,347 | $861,750.4 | $121,403.4 | 16.4% |
TrueShares S&P Autocallable Defensive Income ETF (PAYM) FAQ
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TrueShares S&P Autocallable Defensive Income ETF Profile
| BATS Exchange | US Country |
Overview
PAYM is a financial product designed to offer moderate monthly income while incorporating some downside protection for investors. However, it is important to note that investors may experience a loss of principal should the equity index decline sharply. The aim of PAYM is to deliver a lower-volatility equity strategy compared to its sister offering, PAYH. The strategy is meticulously crafted to smooth returns and manage risk effectively in fluctuating market conditions.
This actively managed Exchange-Traded Fund (ETF) seeks to provide exposure to an autocallable index, which tracks a selection of synthetic autocallable notes linked to a custom volatility index. Instead of directly holding these autocallables, PAYM attains exposure through total return swaps, a method that allows for an efficient allocation of assets. The fund’s swap exposure is also subject to rebalancing or rolling weekly, ensuring that it remains aligned with market conditions.
Additionally, the ETF maintains the flexibility to adjust its exposure to S&P 500 futures, with the capability to do so up to seven times daily. This adaptive strategy permits increased exposure during periods of market calm and reduces it during heightened market volatility, thereby stabilizing risk levels and potentially lessening drawdowns. For enhanced derivatives exposure, the fund may allocate up to 25% of its assets to a subsidiary located in the Cayman Islands.
Products and Services
- Moderate Monthly Income:
This product aims to provide consistent, moderate income on a monthly basis, making it suitable for investors seeking cash flow during their investment horizon.
- Downside Protection:
While there is potential for loss of principal during significant equity index declines, PAYM includes mechanisms intended to mitigate these risks, appealing to risk-conscious investors.
- Lower-Volatility Equity Strategy:
PAYM is positioned as a lower-volatility alternative to its sister product, PAYH, which may attract investors looking to stabilize their portfolios in unpredictable markets.
- Active Management:
The ETF features an actively managed structure, allowing for dynamic adjustments based on current market conditions and investment opportunities.
- Autocallable Index Exposure:
Through a portfolio of synthetic autocallable notes linked to a custom volatility index, the fund seeks to provide diversified exposure in evolving market environments.
- Total Return Swaps:
PAYM utilizes total return swaps to gain exposure to its targeted autocallables, presenting a strategic method for asset allocation without direct ownership of the notes.
- Flexible Risk Management:
The fund is equipped to adjust exposure to S&P 500 futures multiple times throughout the day, thereby enhancing its ability to react to market conditions swiftly.
- Cayman Islands Subsidiary Investment:
PAYM may invest a portion of its assets in a subsidiary located in the Cayman Islands, which allows for additional derivatives exposure and enhanced investment strategies.
