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| Returns | 1D | 1M | 3M | YTD | 1Y | 3Y | 5Y | MAX |
|---|---|---|---|---|---|---|---|---|
| Total return | ▼ −0.3% | ▲ +10.4% | ▲ +19.5% | ▼ −9.2% | — | — | — | ▼ −1.0% |
| Peer average | ▼ −1.0% | ▼ −0.6% | ▲ +20.7% | ▼ −5.3% | ▼ −16.4% | ▲ +78.1% | — | — |
| S&P 500 · VOO | ▼ −0.4% | ▲ +0.9% | ▲ +3.3% | ▲ +13.8% | ▲ +13.3% | ▲ +88.8% | ▲ +81.9% | — |
Reported holdings are shown below. A share-of-fund chart is unavailable for this portfolio.
Holdings as of 2026-10-30. Derivatives are shown using their reported instrument names.
| Holding | Instrument | Weight |
|---|---|---|
| United States Treasury Bill 12/10/2026 | Reported holding | 30.96% |
| United States Treasury Bill 07/08/2027 | Reported holding | 18.22% |
| United States Treasury Note/Bond 2.375% 05/15/2027 | Reported holding | 16.66% |
| United States Treasury Bill 02/18/2027 | Reported holding | 16.63% |
| Cash & Other | Reported holding | 11.16% |
| TSLA 11/20/2026 370.01 C | Reported holding | 9.64% |
| First American Government Obligations Fund 12/01/2031 | Reported holding | 2.48% |
| TSLA US 11/20/26 C410 | Reported holding | 1.81% |
| TSLA US 11/20/26 C405 | Reported holding | 1.48% |
| TSLA 11/20/2026 370.01 P | Reported holding | -0.97% |
| TSLA US 11/20/26 C375 | Reported holding | -3.45% |
| TSLA US 11/20/26 C380 | Reported holding | -4.62% |
TEST aims for current income by combining synthetic long exposure to Tesla, Inc. (TSLA) and other options strategies, collateralized by cash and US Treasurys. TSLA engages in the design, development, manufacture, and sale of electric vehicles and energy generation and storage systems. The fund aims for monthly premiums of approximately 2.2% and an annual cash distribution target of about 25% of the funds NAV. Synthetic exposure is created by pairing long call options with short put options on TSLA, replicating the stocks price movements, subject to limits on potential gains. To generate premiums, the fund employs various options strategies, such as covered call spread that sells call options while buying calls at a higher strike, capping both profit and loss. The strategy may generate income but limits participation in potential gains if TSLA shares increase in value. On a weekly basis, the adviser uses one or more options strategies.
Distribution yield and SEC yield use different methodologies. Payouts may include income, capital gains, or return of capital.
| Ex-date | Pay date | Per share |
|---|---|---|
| 2026-10-27 | 2026-10-28 | $0.18 |
| 2026-10-20 | 2026-10-21 | $0.17 |
| 2026-10-13 | 2026-10-14 | $0.18 |
| 2026-10-06 | 2026-10-07 | $0.18 |
| 2026-09-29 | 2026-09-30 | $0.18 |
| 2026-09-22 | 2026-09-23 | $0.18 |
| 2026-09-15 | 2026-09-16 | $0.18 |
| 2026-09-09 | 2026-09-10 | $0.18 |
| 2026-09-01 | 2026-09-02 | $0.18 |
| 2026-08-25 | 2026-08-26 | $0.18 |
| 2026-08-18 | 2026-08-19 | $0.18 |
| 2026-08-11 | 2026-08-12 | $0.17 |
Estimated annual expense excludes trading costs and assumes constant assets. Fee waivers and fund costs can change.
Historical risk measures describe past behavior and do not predict future returns.
Hear the strategy from the people behind TEST.