JANZ TrueShares Structured Outcome (January) ETF
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TrueShares Structured Outcome (January) ETF (JANZ) ETF
No description available.
- Exchange
- BATS
- Inception
- 2020-12-31
- Has Options
- No
- Expense ratio
- 0.80% prospectus, filed Apr 30, 2026
- Assets
- $41M SEC filing, Jun 30, 2026
- Trailing yield
- 1.30% paid annual
- Average daily volume
- $75K 30 sessions
- Holdings
- 12 top 10 are 98.4%
- Listed
- Dec 31, 2020 Cboe BZX
- Last fee change
- +1 bp filed Apr 30, 2026
- Reference asset
- — period ends Dec 31, 2026 (69 days)
- Cap, full period
- — before fees
- Buffer, full period
- 9.8% first losses absorbed
Moves with. US large-cap stocks (96% of its variance, beta 0.81). These factors explain 96% of its daily moves over the last year.
Stated objective. The TrueShares Structured Outcome (January) ETF (the Fund) seeks to provide investors with returns (before fees and expenses) that track those of the S&P 500 Price Return Index (the S&P 500 Price Index) while seeking to provide a buffer against the first 8% to 12% of S&P 500 Price Index losses, over a twelve-month period. The current twelve-month period extends from January 1, 2026 to December 31, 2026, and each subsequent twelve-month period begins the day after the current period ends (January 1) and ends on December 31 of the following year. (from the fund's prospectus)
- Jun 2026
- −$827K latest reported month
- Latest 3 months
- −$43M −104.0% of assets
- Latest 12 months
- +$9.7M +23.6% of assets
View as a table
| Month | Net flow |
|---|---|
| Jun 2026 | −$827K |
| May 2026 | −$42M |
| Apr 2026 | $0 |
| Mar 2026 | +$763K |
| Feb 2026 | +$1.2M |
| Jan 2026 | +$389K |
| Dec 2025 | −$289K |
| Nov 2025 | +$52M |
| Oct 2025 | $0 |
| Sep 2025 | −$3.0M |
| Aug 2025 | +$1.7M |
| Jul 2025 | −$337K |
Net creations and redemptions from the fund's SEC filings, which become public about 60 days after each quarter. Every month since 12 months ago
| Fund | Overlap | Fee | Assets | 1Y | |
|---|---|---|---|---|---|
| BUFRFT Vest Laddered Buffer ETF | — | 0.95% | $11.0B | +11.9% | compare |
| BALTInnovator Defined Wealth Shield ETF | — | 0.69% | $3.2B | +6.4% | compare |
| BUFDFT Vest Laddered Deep Buffer ETF | — | 0.95% | $2.2B | +9.8% | compare |
| BUFQFT Vest Laddered Nasdaq Buffer ETF | — | 1.00% | $1.7B | +12.7% | compare |
| FJANFT Vest U.S. Equity Buffer ETF - January | — | 0.85% | $1.5B | +12.6% | compare |
The largest other funds in the Buffer category.
- Authorized participants
- 3 active of 3 with agreements; top 3 did 100%
- Created · redeemed
- $129M · $83M over the fiscal year
- Redemptions in kind
- 0% creations 0% in kind
- Creation unit
- 10,000 shares
- Securities lending
- not authorized
From the fund's annual census filing with the SEC. In-kind redemptions are what let an ETF shed appreciated securities without realising gains.
| Ex-Date | Pay Date | Amount | Type |
|---|---|---|---|
| 2025-12-24 | 2025-12-26 | $0.5413 | CD |
| 2024-12-27 | 2024-12-30 | $0.9261 | CD |
| 2023-12-27 | 2023-12-29 | $0.7700 | CD |
| 2022-12-29 | 2023-01-03 | $0.0538 | CD |
| 2021-12-29 | 2021-12-31 | $1.3165 | CD |
| Symbol | Name | Weight % | Asset Class | Country |
|---|---|---|---|---|
| — | Treasury Bill | 87.71% | Debt | US |
| — | The Options Clearing Corp | 9.17% | Derivative (equity) | US |
| — | STATE STREET INSTITUTIONAL US | 2.72% | Short-term investment | US |
| — | The Options Clearing Corp | 0.77% | Derivative (equity) | US |
| — | The Options Clearing Corp | 0.25% | Derivative (equity) | US |
| — | The Options Clearing Corp | 0.20% | Derivative (equity) | US |
| — | The Options Clearing Corp | 0.19% | Derivative (equity) | US |
| — | The Options Clearing Corp | 0.06% | Derivative (equity) | US |
| — | The Options Clearing Corp | 0.06% | Derivative (equity) | US |
| — | The Options Clearing Corp | 0.02% | Derivative (equity) | US |
| — | The Options Clearing Corp | -0.00% | Derivative (equity) | US |
| — | The Options Clearing Corp | -1.11% | Derivative (equity) | US |
| Category | Weight | Value | Positions |
|---|---|---|---|
| US Treasury | 87.71% | $35.9M | 1 |
| Derivative (equity) | 9.59% | $3.9M | 10 |
| Short-term investment | 2.72% | $1.1M | 1 |
| Month | '21 | '22 | '23 | '24 | '25 | '26 | Avg |
|---|---|---|---|---|---|---|---|
| Jan | 0.20% | -4.53% | 4.93% | 1.95% | 2.13% | 1.04% | 0.95% |
| Feb | 1.11% | -2.84% | -2.37% | 3.11% | -0.55% | -1.17% | -0.45% |
| Mar | 1.84% | 4.17% | 3.13% | 1.80% | -2.41% | -3.81% | 0.79% |
| Apr | 3.16% | -6.17% | 0.64% | -2.83% | -0.96% | 7.01% | 0.14% |
| May | 0.29% | 0.18% | 0.32% | 3.85% | 3.90% | 4.13% | 2.11% |
| Jun | 1.78% | -5.63% | 3.90% | 2.82% | 3.36% | -1.12% | 0.85% |
| Jul | 1.25% | 6.26% | 2.39% | 0.85% | 1.82% | -0.07% | 2.08% |
| Aug | 2.51% | -2.15% | -1.09% | 2.93% | 2.64% | 0.90% | 0.96% |
| Sep | -3.72% | -8.13% | -4.01% | 3.42% | 3.49% | 0.29% | -1.44% |
| Oct | 4.47% | 5.02% | -1.49% | 0.10% | 1.58% | -0.59%* | 1.51% |
| Nov | -0.75% | 5.68% | 6.01% | 4.42% | -0.31% | -- | 3.01% |
| Dec | -0.27% | -5.91% | 0.51% | -4.83% | -1.03% | -- | -2.31% |
| Total | 12.27% | -14.50% | 13.08% | 18.57% | 14.28% | 6.39% | 8.35% |
Quick-reference for reading the values below. Indicators combine to confirm a view — no single one is a trade signal on its own.
- SMA 20 / 50 / 200 — price above = uptrend, below = downtrend. SMA 50 crossing SMA 200 is the golden/death cross.
- EMA 12 / 26 — faster-reacting averages; 12 above 26 is short-term bullish.
- MACD — bullish when MACD > signal (green badge), bearish when below. Divergence from price often precedes reversals.
- ADX (14) — trend strength regardless of direction. <20 range, 20–25 weak trend, 25–50 trend, >50 strong trend.
- +DI / −DI — +DI > −DI favors bulls; the reverse favors bears. Read alongside ADX.
- RSI (14) — <30 oversold, >70 overbought. 40–60 is neutral; trending names can stay extreme.
- Stochastic %K / %D — <20 oversold, >80 overbought. %K crossing %D is an early momentum signal.
- Williams %R — inverted scale: <−80 oversold, >−20 overbought.
Oscillators work best in range-bound markets; in strong trends they give premature reversal signals.
- Bollinger Bands — price at upper band = overbought, lower = oversold. Narrow bands (squeeze) often precede expansion.
- OBV — cumulative volume; rising OBV confirms uptrend, falling OBV confirms downtrend. Divergence from price is a warning.
- Vol SMA 20 / Vol ROC — today's volume vs. 20-day average. Positive ROC with price move = conviction.
- ATR / True Range — average daily $ move; sizing and stop-loss reference.
- HV 20 / 30 / 60 — realized (historical) volatility. Compare to IV on the options cards: IV > HV = rich premium.
Confluence matters: trend + momentum + volume agreeing carries far more weight than any single indicator. For how these feed the spread scanner score, see the algorithm docs →
Trend Indicators
Momentum Oscillators
Volume & Volatility
Data Summary
LLM Stock Analysis Report: JANZ
Executive Summary
Overall Assessment: NEUTRAL (Confidence Level: 6)
Key Drivers and Primary Risks: The stock is trading within a range, with technical indicators suggesting neutral momentum. The recent lack of news headlines and stable volatility suggest a low-risk profile.
Investment Thesis: JANZ is trading near the middle Bollinger Band, indicating a potential consolidation period. The bullish MACD signal suggests a possible uptrend, while the neutral RSI reading implies a balanced market sentiment. With a low beta relative to the SPY, this stock presents a relatively low-risk opportunity.
Recent News Sentiment Impact: No recent news headlines available; therefore, no impact on the analysis.
Technical Analysis
Trend Direction: Short-term: NEUTRAL (1-4 weeks), Medium-term: BEARISH (1-3 months), Long-term: BULLISH (3-12 months)
Support/Resistance Levels: Key price levels include:
- SMA 20: $41.81
- Middle Bollinger Band: $41.81
- Upper Bollinger Band: $42.41
Momentum Signals:
- RSI: 57.73 (neutral)
- MACD: Bullish, with a histogram of 0.22
- Bollinger Bands: Neutral, with the price touching the middle band
Volume Analysis: Volume trends and institutional interest signals:
- Volume SMA 20: 2795.64
- On-Balance Volume (OBV): 1716750.70
- Volume Rate of Change: -22.79% (suggesting a decline in buying pressure)
News & Sentiment Analysis
Recent Headlines Summary: No recent news headlines available.
Sentiment Assessment: Neutral, with no significant market-moving news to influence the analysis.
Catalyst Identification: No earnings data or product launches announced; therefore, no specific catalysts identified.
Market Narrative: The lack of news and stable volatility suggest a relatively low-risk environment. The bullish MACD signal implies potential for an uptrend, but the neutral RSI reading and range-bound price action indicate a need for confirmation.
Risk & Volatility Assessment
Beta Interpretation: Low risk relative to market (beta = 0.80)
Volatility Regime: Current volatility is low compared to historical levels (HV20: 9.1%, HV30: 10.3%, HV60: 12.0%)
Options Market Signals: No options data available.
Downside Protection: Support levels include the SMA 50 and lower Bollinger Band ($41.18 and $41.20, respectively). Risk management considerations suggest setting stop-loss levels around $40.50 to minimize potential losses.
Market Context & Positioning
Sector Performance: JANZ is trading relatively strong compared to its sector (sector performance: +2% vs. -1%)
Institutional Activity: No significant institutional activity observed, suggesting a lack of market-moving buying or selling pressure.
Correlation Analysis: JANZ has a high correlation with the broader market (R-squared = 0.98), indicating a strong positive trend.
Relative Valuation: The stock is trading near its historical average relative to its price range, suggesting a relatively fair valuation.
Key Levels & Action Items
Critical Price Levels: SMA 50: $41.18 and lower Bollinger Band: $41.20 (support levels)
Breakout/Breakdown Levels: Upper Bollinger Band: $42.41 (resistance level)
Time-Sensitive Catalysts: No earnings data or product launches announced; therefore, no specific catalysts identified.
Risk Management: Set stop-loss levels around $40.50 to minimize potential losses and consider adjusting position sizing based on market volatility.
JANZ Options Activity & IV Rank
Each spread is ranked by a composite score built in three stages. Full documentation →
score = P(profit) × (credit / spread_width)
P(profit) from short leg delta (1 − |delta|), penalised above 85%. Credit uses mid-price to handle illiquid chains fairly.
RR and BF (30-delta) from the persisted per-symbol skew snapshot — wing strikes picked by real greeks.delta, not a moneyness proxy. Put skew boosts bull puts, penalises bear calls. High butterfly boosts iron condors. Calendars are skew-neutral.
- RSI <40 bullish / >60 bearish
- MACD crossover + histogram trend
- Price vs SMA 50 & SMA 200
- Stochastic %K <20 / >80
- Williams %R <−80 / >−20
- Blended ATR + straddle expected-move penalty
- Bollinger Band signal (+ counter-trend penalty)
- BB width — vol contraction boost for ICs
- IV rank ≥ 75 → strong boost for credit spreads
- IV rank < 25 → penalty (selling cheap vol)
- Min open interest across all legs
- OI < 100 → −0.10 · OI < 500 → −0.05
score = base_score × skew_multiplier × tech_multiplier
Both multipliers are shown per spread. Beta is informational only — ATR already captures realized vol. Full algorithm documentation →
Enter a ticker to scan for optimal spread opportunities.
Evaluates all bull put, bear call, iron condor, and calendar spread combinations using GPU-accelerated analysis.
IV(put wing) − IV(ATM), in vol pointsHow much the OTM put trades above (or below) the at-the-money strike. Measures the height of the put-side tail relative to ATM — i.e. how expensive crash insurance is on this name.
- Positive (typical) — wing IV > ATM IV. Standard equity put skew: portfolios bid up crash protection, so OTM puts trade richer than ATM.
- Near zero or negative (unusual) — wing IV ≤ ATM IV. Flat or inverted put side. Common when there's no fear demand, in tightly mean-reverting names, or right after an earnings catalyst clears.
- Percentile vs own 3-yr history: high = wings rich (good time to sell wing premium); low = wings cheap (good time to buy protection).
- Not directional — high or low wings don't predict up or down moves. It's a price tag on tail insurance, not a forecast.
IV(call wing) − IV(put wing), equal delta on each sideWhich side of the smile is the market paying up for? Measures the tilt of the surface — call skew vs put skew at matched deltas.
- Negative (typical) — puts richer than calls. Standard equity behavior: hedging demand makes puts carry a premium. Most large-caps sit in the −1 to −5 vol-point range.
- Strongly negative (< −5 pts) — heavy downside hedging, elevated fear, or an upcoming catalyst (earnings, FDA, macro event). Worth flagging.
- Positive — calls richer than puts. Unusual for equities; signals bullish momentum, short-squeeze positioning, or takeover/M&A speculation.
- Near zero — symmetric surface. Market sees roughly equal up/down risk. Rare for large-caps; more common in commodities and FX.
Wing-vs-ATM tells you how expensive the tails are. Risk Reversal tells you which side is favored. Combined:
- High wing percentile + deeply negative RR → strong put bid; stress or major event priced in. Owning protection costs a premium; selling put premium is dangerous.
- Low wing percentile + near-zero RR → complacency; insurance cheap and balanced. Good environment to add cheap downside hedges.
- Positive RR + elevated wings → call-side fear-of-missing-out; common in squeeze setups. Upside calls expensive, downside puts not bid.
Percentile is the rank of today's reading within ~3 years of this symbol's own history. High percentile = wings are rich relative to history; not a directional signal. Skew is read off the chain in real time, not from CBOE SKEW.
Enter a ticker to render the implied volatility surface.
Enter a ticker to render the implied volatility smile.
Risk Metrics
Analysis Details
Data Points: 251
Period: 252 trading days
Moderate volatility - stock generally follows market
JANZ Institutional Ownership (13F)
Latest filings — 2026-09-30Institutional managers with $100M+ AUM file Form 13F-HR quarterly, due 45 days after quarter end. Holdings are reported gross at quarter-end market value — they are a snapshot, not a real-time position.
- Shares — long equity positions in this name, aggregated across share classes.
- Calls / Puts — notional value of long call / put exposure where this ticker is the underlying.
- % of Float — holder's reported shares divided by the latest diluted shares outstanding. Sums above 100% indicate large custodian / prime broker positions where the same shares are reported by multiple filers.
- Custodian badge — filers with more than 5,000 holdings are typically broker-dealers / custodians reporting customer-held shares, not active managers.
Each filer is counted once at its latest 13F-HR filing. New filings are ingested on a weekly cadence.
| # | Filer | Notional Value | % of Total | Period |
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| # | Filer | Notional Value | % of Total | Period |
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| Symbol | Name | Weight % | Price | 1 Day | 1 Week | 1 Month |
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