BOSTON and SAN FRANCISCO, Sept. 22, 2026 (GLOBE NEWSWIRE) -- VistaShares, a leading issuer of actively-managed Liquid Alternative ETFs, is today introducing the first in an entirely new family of ETFs designed to disrupt the buffered/defined outcome fund category:
In creating the Shield family of funds, the VistaShares team started by identifying the six main constraints that have been built into all of the buffered ETFs brought to market to this point:
- The cap – The buffer is paid for by selling away upside, leaving investors limited by a ceiling they cannot influence which compresses with volatility falls;
- The cliff – The buffer absorbs a defined first tranche of loss, typically 9%, 15% or 20%, but that protection ends precisely where the decline becomes most severe;
- The outcome period – The stated buffer and cap are realized in full only by holding from the first day of the period to the last, usually one full year;
- The mid-period entry – Buying mid-period provides a remaining buffer and a remaining cap that differ from the levels in the fund’s name, meaning there can be a “right day” and a “wrong day” to buy and investors need to wait to see if they made the right call;
- Grinding decline – The fund holds a synthetic long position and the buffer settles at period end, leaving investors to watch a slow decline while holding a product bought to prevent precisely that; and
- Serialization – Issuers ladder monthly series to try to work around entry timing, which dramatically multiplies tickers and leaves advisors with copious amounts of extra work across accounts, at rebalance and during tax season.
“The idea behind a buffered ETF is a simple one but the category has evolved far away from its simple roots and introduced complexities and complications that have left many advisors and investors frustrated with their outcomes,” said Adam Patti, CEO of VistaShares. “With Shield, we’ve solved for each of these issues, removing the structural cap that can limit gains, seeking 8% buffer each month plus continuing to preserve against 50% of the losses occurring after the 8% buffer, operating as a continuous vehicle, and delivering all of this via a single ticker per exposure.”
Each fund holds cash and short-term U.S. Treasury securities for its derivatives transactions and obtains index exposure not by holding the index itself but instead through options. At each monthly rebalance, the funds sells out-of-the-money put options and uses the premiums received, together with interest earned on its cash investments, to purchase approximately one-month, at-the-money call options on an underlying ETF tracking the S&P 500 or Nasdaq-100, respectively.
The result is a continuous investment vehicle that does not terminate or reset at predetermined intervals. Each fund is actively managed and generally rebalances options positions monthly as they approach expiration date.
“This is the Better Buffer™,” added Patti. “In fact, with VOOB and QQQB, we’re not just providing investors and advisors with a buffer, we’re arming them with a Shield™.”
For more information and updates from VistaShares, please visit www.VistaShares.com and follow the firm on LinkedIn @VistaShares, and on X @VistaSharesX.
About VistaShares
VistaShares, the leader in Liquid Alternative ETFs, strives to deliver innovative investment solutions for today’s investors, helping them navigate evolving market opportunities with confidence. VistaShares ETFs are actively managed by industry and investment experts, offering a number of distinct strategies. Supercycle® Growth Equity ETFs target technology-driven economic Supercycles® that we believe are poised for significant growth, while Target 15™ option-income ETFs are designed to generate high monthly income while complementing a core equity portfolio.
Investors should consider the investment objectives, risks, charges and expenses carefully before investing. For a prospectus or summary prospectus with this and other information about the Funds, please call (844) 875-2288 or visit www.VistaShares.com. Read the prospectus or summary prospectus carefully before investing.
Investing involves risk, including possible loss of principal.
IMPORTANT INFORMATION
About the buffer
Under current market conditions, the Fund initially seeks, after fees and expenses, to offset 100% of the first 8% of losses in the Underlying ETF during each monthly period and to experience approximately 50% of any additional losses during that period. The level and duration of the buffer are not fixed. The Sub-Adviser may adjust the amount of the buffer, the Fund's participation in losses exceeding the buffer, and the applicable period based on market conditions and the cost of protection. The Fund seeks to provide reduced exposure to losses generally in the range of 25-75%, and the Sub-Adviser may adjust that range. The buffer is not a floor, does not protect against all losses, and is intended to reduce but not eliminate the impact of negative returns. There is no guarantee that the Fund will be successful in providing buffered returns.
The Fund does not offer principal protection and is not a guaranteed or insured product. An investor may lose all or a portion of the amount invested. The intended protection applies over the applicable options period and may not be fully available to shareholders who purchase Shares after that period begins.
Definitions:
At the money call option: A contract where the strike price (the set price to buy the asset) is equal or very close to the current market price of the underlying stock.
Out of the money: means an options contract has no intrinsic value and would result in a loss if you exercised it right now.
Put option: A financial contract that gives the buyer the right, but not the obligation, to sell a specific asset at set price before a specific date
Call option: A financial contract that gives the buyer the right, but not the obligation, to buy a specific asset at set price within a specific time. Investors buy these contracts when they expect the price of an asset, usually a stock, to go up
Principal risks
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.
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. |
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Foreside Fund Services, LLC, distributor.
Media contact: Veronica Pasko
Craft & Capital
veronica@craftandcapital.com
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