CHICAGO, Dec. 30, 2025 (GLOBE NEWSWIRE) -- TrueShares, a leading issuer of exchange traded funds (ETFs) and a division of TrueMark Investments, today announced the launch of the TrueShares S&P Autocallable High Income ETF (PAYH) and TrueShares S&P Autocallable Defensive Income ETF (PAYM), a pair of funds focused on the fast-growing autocallable category designed to help investors manage downside risk while generating attractive monthly income, but with a uniquely incorporated hedge component pioneered by TrueShares.
PAYH and PAYM are designed to offer investors highly differentiated income opportunities through exposure to a portfolio of synthetic autocallable products1 linked to a custom volatility-controlled index created and administered by S&P with the autocallable ETFs’ exposure hedged by Morgan Stanley. These indices are the S&P 500 Futures 35% Intraday VT 4% Decrement Index2 for PAYH, and the S&P 500 Futures 20% Intraday VT 2% Decrement Index3 for PAYM. Both funds, under normal market conditions, invest at least 80% of their total assets in U.S. Treasuries, cash and cash equivalents, and unfunded total return swaps that provide exposure to the autocallable products portfolio.
“To this point, though the autocallable category has been growing, it has been primarily comprised of laddered approaches, lacking the kind of varied and adaptive approach that can truly unlock the powerful role this type of exposure can play in a portfolio,” said Mike Loukas, CEO of TrueMark Investments. “To do that, we’re very excited to have partnered with two of the world’s largest finance firms in S&P and Morgan Stanley to deliver not just a suite of dynamic, market-reactive autocallable solutions but with defensive overlays as part of the ETF.”
PAYH and PAYM are overseen by Jeffrey Feldman, Portfolio Manager and Quantitative Risk Manager for TrueMark Investments. Prior to joining TrueMark, Feldman spent more than 20 years with Wolverine Trading, where he was responsible for risk management and trading of ETFs.
These new ETFs join a growing suite of TrueShares ETFs that provide a range of exposures designed to help investors and advisors navigate today’s volatile modern markets. Since 2020, the firm has been at the forefront of the uncapped buffer ETF space with 12 funds in its uncapped buffered suite, each tied to a particular month, that seek upside exposure and partially mitigate losses (in the 8-12% range) through options strategies. In January of 2025, the firm also launched ONEZ - a fund-of-funds ETF that dynamically allocates across TrueShares' innovative families of Structured Outcome ETFs and Quarterly Bull/Bear ETFs.
Investor and advisor interest in TrueShares’ solutions has been growing and the firm celebrated surpassing the $1 billion asset threshold across its full lineup of ETFs in the first half of 2025.
“At TrueShares, we are committed to innovation and adapting to the rapidly changing market environment,” added Loukas. “Introducing these unique autocallable ETFs positions our firm and suite of funds at the forefront of the ongoing ETF evolution and the delivery of institutional-quality strategies to advisors and investors of all types.”
For more information about PAYH and PAYM, please visit: https://www.true-shares.com/etf/payh and/or https://www.true-shares.com/etf/paym.
About TrueMark Investments
At TrueMark, we serve investors with unique portfolio solutions, in an ETF structure, that deliver true exposure to a variety of asset classes, strategies, and industries. With over $1 billion in assets under management as of May 2025, our suite of internally managed and sub-advised ETFs pair specialized investment expertise with industry knowledge to power investment management decisions. For more information on the firm's full lineup of TrueShares ETFs, please visit true-shares.com.
1- Autocallable Notes are principal at risk, market-linked structured notes (debt obligations that also contain an embedded derivative component) that provide investors the opportunity to receive a variable return if certain conditions are met.
2- The S&P 500® Futures 35% Intraday VT Index measures the performance of a long-only, dynamically adjusted strategy based on E-mini S&P 500 futures. The index seeks to achieve a 35% volatility target by using an intraday rebalance strategy based on volume-weighted average prices computed during different time windows in the day, and it may be levered up to four times to achieve its target. The index has a decrement factor of 4% per year.
3- The S&P 500® Futures 20% Intraday VT Index measures the performance of a long-only, dynamically adjusted strategy based on E-mini S&P 500 futures. The index seeks to achieve a 20% volatility target by using an intraday rebalance strategy based on volume-weighted average prices computed during different time windows in the day, and it may be levered up to two times to achieve its target. The index has a decrement factor of 2% per year.
Before investing, carefully consider the TrueShares ETFs investment objectives, risks, charges, and expenses. Specific information about TrueShares is contained in the prospectus and a summary prospectus, copies of which may be obtained by visiting www.true-shares.com. Read the prospectus carefully before you invest.
The Fund may not achieve its objective and/or you could lose money on your investment in the Fund. The Fund is recently organized with no operating history for prospective investors to base their investment decision which may increase risks. Some of the Fund’s key risks, include but are not limited to the following risks. Please see the Fund’s prospectus for further information on these and other risk considerations.
The investment objective of TrueShares S&P Autocallable High Income ETF (the “Fund”) is to generate high monthly income while reducing downside risk. The investment objective of TrueShares S&P Autocallable Defensive Income ETF (the “Fund”) is to generate moderate monthly income while reducing downside risk.
These products employ a complex investment strategy involving derivatives and structured-product like payout profiles and may not be suitable for all investors.
The tax treatment of derivatives and structured-outcome strategies may be complex. Investors should consult a tax advisor regarding their individual circumstances.
The funds seek high income, but predictable income is not a guarantee and actual income may decline in certain market conditions. A decline in the index or failure to meet certain performance thresholds may reduce or eliminate monthly income. There is no assurance that the Funds’ investment strategy, including their use of derivatives, contingent downside features, or income-generation techniques, will be successful. The strategy may not achieve its objectives, may not perform as expected in different market environments, and could result in investment losses.
The funds are new with no operating history.
An investment in TrueShares S&P Autocallable High Income ETF and TrueShares S&P Autocallable Defensive Income ETF is subject to numerous risks, including possible loss of principal. The ETF is subject to the following principal risks: Authorized Participants, Market Makers, and Liquidity Providers Concentration Risk associated with ETFs; Equity Market Risk; Management Risk; Market Capitalization Risk; Market Risk; New Fund Risk. A full description of risks is in the prospectus. TrueShares S&P Autocallable High Income ETF and TrueShares S&P Autocallable Defensive Income ETF is also subject to the following risks: Coupon payment risk: Coupon payment risk refers to the danger that the issuer of a bond may default on its interest payments (credit risk) or that the investor will not be able to reinvest those payments at a favorable rate (reinvestment risk). This risk is present with any fixed-income security that makes regular coupon payments. Autocall barrier risk: Autocall barrier risk is the possibility of losing money on an autocallable financial product because the underlying asset’s value falls below a specified barrier level. Maturity barrier risk: If the Underlying Reference Index falls below the Maturity Barrier at the maturity of an Autocall in the Portfolio, that portion of the Portfolio will be fully exposed to the negative performance of the Underlying Reference Index from its initial level. This conditional protection creates a binary outcome that can result in sudden, significant losses if barriers are breached. Derivatives and swap counterparty risk: Counterparty risk is the risk that one party in a derivative contract, such as an interest rate or currency swap, will default on its obligations. This means the other party could face a financial loss because the defaulting counterparty fails to make a required payment. The risk is particularly high for over-the-counter (OTC) derivatives like swaps, which are negotiated directly between two parties and are not traded on an exchange. Reference index risk: a reference index risk is the risk that an asset’s return will deviate from a benchmark index, or the risk associated with instruments like index options, which are used for trading and hedging against index movements. Equity market risk: Equity market risk is the possibility of losing money in stock investments due to fluctuations in the overall stock market. This risk stems from factors like economic conditions, geopolitical events, and industry trends that cause market-wide price changes, affecting both individual stocks and entire portfolios. FLEX options risk: The Fund may invest in FLEX Options issued and guaranteed for settlement by the OCC. The Fund bears the risk that the OCC will be unable or unwilling to perform its obligations under the FLEX Options contracts. Additionally, FLEX Options may be illiquid, and in such cases, the Fund may have difficulty closing out certain FLEX Options positions at desired times and prices. As the options the Fund invests in derive their performance from the S&P 500 Price Index, the Fund is subject to the equity market risk associated with the index. The ETF’s portfolio is more volatile than broad market averages.
TrueMark Investments, LLC is the investment advisor to the Fund and receives a fee from the Fund for its services. The fund is distributed by Paralel Distributors LLC, member FiNRA. Paralel is not affiliated with TrueMark investments, LLC, Morgan Stanley, or Standard & Poor’s.
TRUE436
NOT FDIC INSURED — NO BANK GUARANTEE — MAY LOSE VALUE
MEDIA CONTACT:
Rob Jesselson
Craft & Capital
rob@craftandcapital.com
