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PSMR is an actively managed “structured outcome” ETF that uses FLEX options tied to the market price of SPY to target a defined return profile over an annual window that typically resets each April. The design aims to absorb the first ~15% of SPY’s losses during the outcome period, but it also limits gains above a preset cap that is reset each year and does not include fees.
You don’t own the S&P 500 stocks directly—you own a package of stock-market options plus cash-like collateral. The options are built to cushion a chunk of stock-market drops, but they also put a ceiling on how much you can make.
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Showing the largest holdings by weight in PSMR
| Logo | Ticker | ETF Weight | Market Value | |
|---|---|---|---|---|
2S | 2SPY 260331C00006210 SPY 03/31/2026 6.21 C | SPY 03/31/2026 6.21 C | 89.78% | $93.5M |
2S | 2SPY 260331C00629150 SPY 03/31/2026 629.15 C | SPY 03/31/2026 629.15 C | 9.26% | $-9640234 |
US | USBFS03 U.S. Bank Money Market Deposit Account 06/01/2031 | U.S. Bank Money Market Deposit Account 06/01/2031 | 0.65% | $673.1K |
2S | 2SPY 260331P00559450 SPY 03/31/2026 559.45 P | SPY 03/31/2026 559.45 P | 0.21% | $222.5K |
2S | 2SPY 260331P00475480 SPY 03/31/2026 475.48 P | SPY 03/31/2026 475.48 P | 0.08% | $-86900 |
Breakdown of PSMR by sector weightings (%)
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Top countries by weight (%)
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