Key stats
About Cboe(R) Validus S&P 500(R) Dynamic PutWrite Index ETF
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Inception date
Aug 9, 2023
Structure
Open-Ended Fund
Replication method
Synthetic
Dividend treatment
Distributes
Distribution tax treatment
Ordinary income
Income tax type
Capital Gains
Max ST capital gains rate
39.60%
Max LT capital gains rate
20.00%
Primary advisor
Tidal Investments LLC
Distributor
Foreside Fund Services LLC
ISIN
US88636J8650
PUTD aims to generate income while reducing maximum drawdowns and volatility by utilizing a fully cash-secured short-put strategy. The underlying index consists of up to five different types of put options on the S&P 500 index (SPX), with the maximum loss potential in the strategy invested into one- and three-month US treasury bills. The index relies on dynamic option strike selection on the prevailing market volatility. Each one-month SPX put option has a strike price dependent on the current levels of implied volatility. The strategy tends to outperform when markets are in range-bound or slightly bullish states. The number of SPX puts sold is limited by the treasury bills to ensure full collateralization. On the third Friday of each month, the index reconstitutes and rolls an equal portion of the portfolio during each of the following five trading days. Note that the funds returns are limited to the amount of the option premiums and the interest from US treasuries.
Classification
Returns
| 1 month | 3 months | Year to date | 1 year | 3 years | 5 years | |
|---|---|---|---|---|---|---|
| Price performance | — | — | — | — | — | — |
| NAV total return | — | — | — | — | — | — |
What's in the fund
Exposure type
Cash
Mutual fund
Bonds, Cash & Other100.00%
Cash50.84%
Mutual fund50.23%
Rights & Warrants−1.07%
Top 10 holdings
Dividends
Dividend payout history
Assets under management (AUM)
Fund Flows
Frequently Asked Questions
PUTD last dividends amounted to 0.31 USD. The quarter before, the issuer paid 0.29 USD in dividends, which shows a 5.17% increase.
PUTD assets under management is 1.07 M USD. It's fallen 95.38% over the last month.
PUTD fund flows account for −22.31 M USD (1 year). Many traders use this metric to get insight into investors' sentiment and evaluate whether it's time to buy or sell the fund.
Yes, PUTD pays dividends to its holders with the dividend yield of 11.45%. The last dividend (Jul 3, 2025) amounted to 0.31 USD. The dividends are paid quarterly.
PUTD shares are issued by Toroso Investments Topco LLC under the brand Validus. The ETF was launched on Aug 9, 2023, and its management style is Passive.
PUTD expense ratio is 0.64% meaning you'd have to pay 0.64% of your investment to help manage the fund.
PUTD follows the CBOE Validus S&P 500 Dynamic PutWrite Index - Benchmark TR Gross. ETFs usually track some benchmark seeking to replicate its performance and guide asset selection and objectives.
PUTD invests in cash.
PUTD price has risen by 1.29% over the last month, and its yearly performance shows a −7.83% decrease. See more dynamics on PUTD price chart.
NAV returns, another gauge of an ETF dynamics, showed a 4.92% increase in three-month performance and has increased by 10.74% in a year.
NAV returns, another gauge of an ETF dynamics, showed a 4.92% increase in three-month performance and has increased by 10.74% in a year.
PUTD trades at a premium (0.01%) meaning the ETF is trading at a higher price than the calculated NAV.