ERNZ: TRUESHARES ACTIVE YIELD ETF
Understanding the TRUESHARES ACTIVE YIELD ETF (ERNZ)
What this ETF is trying to do
The TRUESHARES ACTIVE YIELD ETF (ticker: ERNZ) is an exchange-traded fund listed on the NASDAQ. Based on its name and holdings, it focuses on generating yield for investors. It holds a variety of different assets, including money market funds and various company stocks.
What the numbers show
When looking at an ETF, it is important to understand two different types of returns: price return and total return.
• Price Return: This measures only the change in the share price. For ERNZ, the year-to-date (YTD) price return is approximately 4.08%. However, the one-year price return was a loss of about 1.63%.
• Total Return: This includes the share price change plus any distributions (cash paid out) received. The YTD total return is approximately 4.89%, and the one-year total return was approximately 1.88%.
To see how the price has moved, we can look at the current price of $21.32 and compare it to an estimated price from roughly one year ago, which was approximately $21.67.
Income and distribution explanation
This ETF provides cash distributions to investors. The distribution yield is approximately 3.46%. This number describes the cash paid out relative to the ETF's price. Over the last 12 months, there were 5 payouts. While these distributions provide cash income, they are not the same as total return.
NAV erosion explanation
"NAV erosion" refers to a decline in the Net Asset Value (the actual value of the assets held by the fund). While a falling share price can sometimes look like erosion, they are not always the same thing. For ERNZ, the erosion-risk score is 94, which is labeled as "Stable / sideways," and the erosion severity is rated as "good." There is no severe erosion-risk flag for this ETF.
Top Holdings
The following are some of the top holdings in the fund (note that this is a partial list):
• STATE STREET INSTL US GOVT MMKT ADMIN (3.12%)
• INTERNATIONAL SEAWAYS INC (2.93%)
• FLEX LNG LTD (2.77%)
• CALEDONIA MINING CORP PLC (2.34%)
• GUGGENHEIM STRATEGIC OPPORTUNITIES FUND (2.27%)
Holdings can change over time. This data was last updated on October 4, 2026.
Pros
• The ETF has a "good" erosion-severity rating, suggesting the price trend is relatively stable.
• The total return has been positive over both the year-to-date and one-year periods.
Cons
• The one-year price return was negative, meaning the share price itself dropped even though the total return was positive.
Beginner takeaway
When looking at income-focused ETFs like ERNZ, remember that a high distribution yield is not the same as total return. Always look at the total return to see how much value you actually gained or lost, including the cash paid out to you.
Top Holdings
Structured portfolio holdings supplied by the ETF data provider. These figures are not generated by the AI article.
| # | Holding | Ticker | Weight |
|---|---|---|---|
| 1 | STATE STREET INSTL US GOVT MMKT ADMIN | SALXX | 3.12% |
| 2 | INTERNATIONAL SEAWAYS INC | INSW | 2.93% |
| 3 | FLEX LNG LTD | FLNG | 2.77% |
| 4 | CALEDONIA MINING CORP PLC | CMCL | 2.34% |
| 5 | GUGGENHEIM STRATEGIC OPPORTUNITIES FUND | GOF | 2.27% |
| 6 | TARGA RESOURCES CORP | TRGP | 2.06% |
| 7 | FIRST TRUST NASDAQ BUYWRITE INCOME ETF | FTQI | 1.98% |
| 8 | WISDOMTREE EQUITY PREMIUM INCOME FUND | WTPI | 1.92% |
| 9 | DHT HOLDINGS INC | DHT | 1.74% |
| 10 | GLOBAL X NASDAQ 100 COVERED CALL ETF | QYLD | 1.74% |