PAYM – TrueShares S&P Autcll Defesv Inc ETF – ETF Investment Strategy | Morningstar

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Strategy

The investment seeks to generate moderate monthly income while reducing downside risk. The fund is an actively managed exchange-traded fund (“ETF”) that invests, under normal market conditions, at least 80% of its total assets in U.S. Treasuries, cash and cash equivalents, and unfunded total return swaps that provide exposure to a synthetic portfolio of autocallable notes included in the Autocallable Index. It is non-diversified.

Ticker	Name	Share Class Type	Investment Status	Morningstar Rating for Funds Overall	Medalist Rating Overall	Inception Date	Total Net Assets for Share Class	Adjusted Expense Ratio	Fee Level Distribution	Minimum Initial Investment	1-Year Net Flow
PAYM	TrueShares S&P Autocallable Defensive Income ETF	ETF	Open	—	—	Dec 29, 2025	$160.69M	0.740%	—	—	—

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