VOOB
VistaShares Shield™
S&P 500 Enhanced Protection ETF
VistaShares Shield™
S&P 500 Enhanced Protection ETF
ETF Overview
Reasons to consider VOOB
Two Layers of Protection, Not One
Most buffered ETFs stop protecting once the buffer is used up. VOOB is built to absorb 100% of the first 8% of monthly losses and then to take on approximately half of any further decline. Protection continues past the point where a conventional buffer ends.
The buffer is intended to reduce, but not eliminate, the impact of negative returns of the Underlying ETFs.
Uncapped Upside
VOOB does not use a structural cap. Participation in rising markets is partial and is set each month by what the option premiums and interest income will buy, but there is no ceiling on how much of a strong market the Fund can participate in.
No Annual Lock-In
Traditional buffered ETFs tie their outcome to a fixed twelve-month period, and buying mid-period changes what an investor actually receives. VOOB runs a rolling portfolio of approximately one-month options rebalanced monthly. Investors do not have to time an entry point or wait out a period to get the intended exposure.
ETF Summary
The VistaShares Shield™ S&P 500 Enhanced Protection ETF (VOOB) gives investors core US large-cap exposure with the monthly drawdowns cushioned. VOOB obtains exposure to the S&P 500 Index, initially through SPY, using FLEX Options held against US Treasury collateral. Under current market conditions the Fund initially seeks to offset 100% of the first 8% of losses in each monthly period and to experience approximately 50% of any additional losses in that period. Upside participation is partial and is not capped. Unlike traditional defined outcome funds, VOOB does not run a fixed annual outcome period. The options positions are reviewed and rebalanced monthly, so investors are not required to hold shares for a set term.
ETF Objective
The VistaShares Shield TM S&P 500 Enhanced Protection ETF (the “Fund”) seeks capital appreciation.
Key Information
As of 09/18/2026
| Inception Date | 09/21/2026 |
| Expense Ratio | 0.79% |
| Net Assets | -- |
| NAV | -- |
Trading Details
As of 09/18/2026
| Ticker | VOOB |
| CUSIP | -- |
| Primary Exchange | NYSE |
| Shares Outstanding | -- |
| Number of Holdings | -- |
| Premium/Discount | -- |
| 30-Day Median Bid-Ask Spread | -- |
Median 30 Day Spread is a calculation of Fund’s median bid-ask spread, expressed as a percentage rounded to the nearest hundredth, computed by: identifying the Fund’s national best bid and national best offer as of the end of each 10 second interval during each trading day of the last 30 calendar days; dividing the difference between each such bid and offer by the midpoint of the national best bid and national best offer; and identifying the median of those values.
There is no guarantee of how the Fund will perform in the future. There is no assurance the Fund will make a distribution in any given month and the following may vary greatly.
Prices & Performance
ETF Prices
As of 09/18/2026
| NAV | -- | -- | Daily Change | --% |
| Market Price | -- | -- | Daily Change | --% |
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Performance History
As of 09/22/2026
| Since Incept. |
1M | 3M | YTD | 1Y | |
|---|---|---|---|---|---|
| NAV | --% | --% | --% | --% | --% |
| Market Price | --% | --% | --% | --% | --% |
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Quarterly
Performance data quoted represents past performance; past performance does not guarantee future results. The investment return and principal value of an investment will fluctuate so that an investor’s shares, when redeemed, may be worth more or less than their original cost. Current performance of the fund may be lower or higher than the performance quoted. Performance current to the most recent month-end can be obtained by calling (844) 875-2288.
Investing involves risk, including the possible loss of principal. Shares of any ETF are bought and sold at market price (not NAV) and may trade at a discount or premium to NAV. Shares are not individually redeemable from the Fund and may only be acquired or redeemed from the fund in creation units. Brokerage commissions will reduce returns.
Short term performance, in particular, is not a good indication of the fund’s future performance, and an investment should not be made based solely on returns. Returns beyond 1 year are annualized. A fund’s NAV is the sum of all its assets less any liabilities, divided by the number of shares outstanding. The market price is the most recent price at which the fund was traded.
Holdings & Characteristics
Top Holdings
As of 09/21/2026
| Ticker | Market Value | Weightings | |
|---|---|---|---|
| United States Treasury Bill 10/22/2026912797UL9 | 912797UL9 | $996,831.25 | 99.68% |
| Cash & OtherCash&Other | Cash&Other | $2,668.49 | 0.27% |
| STATE ST CLL OPT 09/26 774SPY 260930C00774000 | SPY 260930C00774000 | $508.50 | 0.05% |
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Holdings are subject to change.
ETF Documents
Fund-Specific Disclosure
Derivatives Risk. The Fund’s investments in derivatives may pose risks in addition to, and greater than, those associated with directly investing in securities, including market risk, imperfect correlation with the Fund’s other holdings, higher price volatility, lack of availability, counterparty risk, liquidity, valuation and legal restrictions, and may expose the Fund to losses in excess of the amounts initially invested.
Options Contracts. The prices of options are volatile and are influenced by changes in the value of the underlying instrument, changes in actual or implied volatility, and the time remaining until expiration. The Fund may experience substantial downside from specific option positions, and certain positions may expire worthless. As options are exercised or expire the Fund enters into new options contracts, a practice referred to as rolling. If the expiring options do not generate proceeds enough to cover the cost of the new contracts, the Fund may experience losses.
FLEX Options Risk. FLEX Options are subject to the risk that they may be less liquid than standardized exchange-traded options. In less liquid markets, the Fund may have difficulty closing out FLEX Option positions at desired prices, which could affect the Fund’s ability to pursue its investment objective.
Counterparty Risk. Derivatives may be subject to counterparty risk, meaning the risk that a counterparty, clearing member or clearing house will be unwilling or unable to perform its obligations to the Fund. If a counterparty or clearing member defaults, the Fund may lose the expected benefit of the transaction or be required to enter into replacement transactions on less favorable terms, if at all.
Equity Market Risk. Common stocks are generally exposed to greater risk than other types of securities because common stockholders generally have inferior rights to receive payment from specific issuers. Securities to which the Fund has exposure may experience sudden, unpredictable drops in value or long periods of decline.
Underlying ETF Risk. The Fund’s strategy, involving direct and indirect exposure to the Underlying ETF, is subject to the risks associated with that Underlying ETF, and the Fund bears its share of the Underlying ETF’s expenses in addition to its own.
Market Capitalization Risk. The Fund has exposure to large-capitalization companies, which may underperform other market segments when smaller companies lead and may be less able to adapt to changing market conditions.
Active Management Risk. The Sub-Adviser actively monitors the Fund’s holdings and may not meet the Fund’s investment objective based on its success or failure in implementing investment strategies.
Economic and Market Risk. Economies and financial markets worldwide are increasingly interconnected, which increases the likelihood that events in one country or region will adversely affect markets or issuers elsewhere.
ETF Risks. The Fund is subject to the risks of the ETF structure, including risks related to Authorized Participants and liquidity provider concentration, Shares trading at a premium or discount to net asset value, the cost of buying and selling Shares, and limited trading volume.
New Fund Risk. The Fund is a recently organized management investment company with no operating history. As a result, prospective investors do not have a track record or history on which to base their investment decisions.
Newer Sub-Adviser Risk. VistaShares is a recently formed entity and has limited experience with managing an exchange-traded fund, which may limit the Sub-Adviser’s effectiveness.
Operational Risk. The Fund is subject to risks arising from operational factors, including human error, processing and communication errors, errors of the Fund’s service providers, failed or inadequate processes, and technology or systems failures.