TrueShares Structured Outcome (September) ETF (SEPZ) Performance
SEPZ total return
Distributions reinvested · as of Oct 23, 2026- YTD
- +8.6% since Dec 31, 2025
- 1 year
- +10.1% total return
- 5 years
- +10.2% a year
- Since first price
- +12.2% a year since 2020
SEPZ trailing returns vs SPY, QQQ, AGG
| Period | SEPZ total return | Price only | S&P 500 (SPY) | Nasdaq-100 (QQQ) | U.S. bonds (AGG) |
|---|---|---|---|---|---|
| 1 month | −1.0% | −1.0% | −1.0% | −5.0% | +0.9% |
| 3 months | +2.3% | +2.3% | +3.2% | +1.9% | −0.4% |
| 6 months | +5.6% | +5.6% | +7.8% | +8.4% | −1.5% |
| YTD | +8.6% | +8.6% | +12.3% | +15.1% | −1.0% |
| 1 year | +10.1% | +7.8% | +14.4% | +15.9% | −1.1% |
| 3 years | +59.6%+16.9%/yr | +45.7% | +87.4%+23.3%/yr | +101.4%+26.3%/yr | +16.6%+5.2%/yr |
| 5 years | +62.3%+10.2%/yr | +47.0% | +79.3%+12.4%/yr | +94.0%+14.2%/yr | −0.8%−0.2%/yr |
| Since inceptionSep 1, 2020 | +102.4%+12.2%/yr | +83.4% | — | — | — |
Total return from adjusted closes (distributions reinvested, before tax). Periods of 3 years or more are also shown annualized. Price only excludes distributions.
Growth of $10,000: SEPZ vs SPY
From Sep 1, 2020: SEPZ grew to $20,241, SPY to $23,463.
Year-end values with distributions reinvested, no taxes or trading costs. Start: first common trading day of both funds.
SEPZ returns by calendar year
4 of 5 full years positive. Best 2021 (+21.8%), worst 2022 (−8.5%). 2026 is year to date.
SEPZ annual returns table
| Year | SEPZ | Largest drop | SPY | QQQ | AGG |
|---|---|---|---|---|---|
| 2026YTD | +8.6% | −7.3% | +12.3% | +15.1% | −1.0% |
| 2025 | +13.2% | −14.6% | +17.7% | +20.8% | +7.2% |
| 2024 | +18.2% | −7.0% | +24.9% | +25.6% | +1.3% |
| 2023 | +17.9% | −7.0% | +26.2% | +54.9% | +5.7% |
| 2022 | −8.5% | −15.2% | −18.2% | −32.6% | −13.0% |
| 2021 | +21.8% | −4.0% | +28.7% | +27.4% | −1.8% |
Largest drop = deepest fall from a high within that calendar year.
Calendar-year return vs largest drop within the year
Most years include a sizable fall at some point even when the year ends higher.
SEPZ largest drawdowns
Now 2.3% below the high| Peak | Decline | Bottom | Recovered | Fall | Underwater |
|---|---|---|---|---|---|
| Jan 4, 2022 | −15.2% | Jun 16, 2022 | Jun 13, 2023 | 5 months | 1.4 years |
| Feb 19, 2025 | −14.6% | Apr 8, 2025 | Jun 26, 2025 | 48 days | 4 months |
Declines from a closing high (distributions reinvested) of 10% or more. Underwater = time from the peak until the old high was regained.
SEPZ risk statistics
| Statistic | 3 years | 5 years | Since 2020 |
|---|---|---|---|
| Annualized return | +16.6% | +11.2% | +13.1% |
| Volatility (annualized) | 9.5% | 11.3% | 11.3% |
| Sharpe ratio | 1.22 | 0.68 | 0.89 |
| Sortino ratio | 2.42 | 1.10 | 1.52 |
| Best month | +8.1% | +8.1% | +8.9% |
| Worst month | −4.2% | −7.2% | −7.2% |
| Best 12 months | +27.2% | +27.2% | +33.3% |
| Worst 12 months | +5.9% | −8.5% | −8.5% |
| Positive months | 64% | 60% | 62% |
| Beta vs S&P 500 | 0.76 | 0.71 | — |
| Correlation with S&P 500 | 0.99 | 0.99 | — |
From monthly total returns. Sharpe and Sortino use 1–3 month T-bills (BIL) as the risk-free rate, so they need history from 2007 on.
SEPZ rolling returns
| Holding period | Periods | Worst | Median | Best | Positive |
|---|---|---|---|---|---|
| 1-year | 62 | −8.5% | +12.7% | +33.3% | 85% |
| 3-year (a year) | 38 | +7.9% | +10.9% | +17.8% | 100% |
| 5-year (a year) | 14 | +10.0% | +11.4% | +14.5% | 100% |
Every holding period starting at a month-end since 2020. Returns for 3 years and longer are annualized.
SEPZ performance overview
TrueShares Structured Outcome (September) ETF (SEPZ) returned +10.1% over the past year and +10.2% a year over five years, with distributions reinvested. Since its first recorded price in 2020 it has returned +12.2% a year, turning $10,000 into about $20,241. Over the same year S&P 500 (SPY) returned +14.4%.
The deepest decline was −15.2%, from Jan 4, 2022 to Jun 16, 2022, and it took 12 months to get back to the old high. SEPZ finished 4 of its 5 full calendar years with a gain; the best year was 2021 (+21.8%) and the worst 2022 (−8.5%). Volatility has been 11.3% a year.
Related: SEPZ chart, SEPZ dividends. See the SEPZ overview for the latest quote and fund facts.
SEPZ performance FAQ
What is the SEPZ return over the past year?
SEPZ returned +10.1% over the 12 months to October 23, 2026, including reinvested distributions. On price alone it rose 7.8%.
What is the average annual return of SEPZ?
SEPZ has returned +10.2% a year over 5 years, +12.2% a year since September 1, 2020 (total return, distributions reinvested).
How much would $10,000 invested in SEPZ be worth?
$10,000 invested in SEPZ at its first recorded close on September 1, 2020 would be worth about $20,241 on October 23, 2026 with distributions reinvested.
What was the worst year for SEPZ?
The worst calendar year was 2022, with a total return of −8.5%. The best was 2021 at +21.8%.
What is the biggest drawdown of SEPZ?
The largest peak-to-trough decline was −15.2% between January 4, 2022 and June 16, 2022. It recovered to the old high on June 13, 2023, 12 months after the bottom.
How volatile is SEPZ?
Over the past 3 years SEPZ had an annualized volatility of 9.5% and a Sharpe ratio of 1.22 (excess return over 1–3 month T-bills per unit of risk).