At a glance
THLV charges 0.64% a year, below the 0.86% average of the 7 funds most like it (the cheapest of 8). It has $56.1M in assets, the 8th largest of that group; it paid 1.67% of its price in distributions over the past 12 months, annual. Over the past year it returned +5.3% with distributions reinvested (S&P 500: +11.5%), the weakest of those 8 funds; over three years it returned +12.1% a year.
The short version
THOR Equal Weight Low Volatility ETF (THLV) is a fund of funds that tracks a THOR index of up to ten U.S. sector ETFs. It holds only sectors in an uptrend and moves the rest to money market funds or cash. Weekly trend signals aim for a smoother ride: its one-year beta was 0.49 as of October 27, 2026, about half the market's sensitivity. The trade-off has been returns far behind the S&P 500.
Price history
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THLV +5.3% over the year to Oct 27, 2026, total return with distributions reinvested.
How it has behaved
| YTD | 1 yr | 3 yr | 5 yr | 10 yr | Since start | |
|---|---|---|---|---|---|---|
| THLV official prospectus, to Dec 31, 2024 | — | +9.54% | — | — | — | +6.27% |
| S&P 500 TR Index index, same period | — | +25.02% | — | — | — | +18.67% |
| THOR Equal Weight Low Volatility Index index, same period | — | +9.57% | — | — | — | +6.69% |
| THLV price data to Oct 27, 2026 | +6.0% | +5.3% | +12.1% | — | — | +8.2% |
- Over the year to Oct 27, 2026, THLV returned +5.3%, 8th of 8 among similar funds.
- Its worst full calendar year was 2023 (+5.9%); its best was 2025 (+10.5%).
- The deepest fall in its price history was 13.1% (Nov 29, 2024 to Apr 21, 2025), recovered by Jul 23, 2025.
Show as a table
| Year | Price data | Prospectus (official) |
|---|---|---|
| 2026 (to date) | +6.0% | — |
| 2025 | +10.5% | — |
| 2024 | +9.6% | +9.54% |
| 2023 | +5.9% | +5.90% |
| 2008 financial crisis stocks fell Oct 9, 2007 – Mar 9, 2009 | Before this security existed |
|---|---|
| 2020 COVID crash stocks fell Feb 19, 2020 – Mar 23, 2020 | Before this security existed |
| 2022 bear market stocks fell Jan 3, 2022 – Oct 12, 2022 | Before this security existed |
Dividends and income
Show as a table
| Year | Per share | Change |
|---|---|---|
| 2025 | $0.5300 | +51.4% |
| 2024 | $0.3500 | -49.3% |
| 2023 | $0.6900 |
What's inside
As of Aug 31, 2026, the fund held 7 securities; the ten largest made up 100.3% of assets.
| Fund held | Weight | |
|---|---|---|
| SS HEALTH CARE | 16.70% | |
| SS MATERIALS ETF | 16.49% | |
| SS FINANCIAL SEL | 16.41% | |
| SS INDUSTRIAL | 15.72% | |
| SS REAL ESTATE | 15.70% | |
| SS UTILITIES SEL | 15.19% | |
| SPDR BLOOMBERG 1 | 4.10% |
By country
United States 100.3%By asset type
Stocks 100.3%What changed recently
- Over the three months to Aug 31, 2026, investors withdrew a net $3.0M (creations minus redemptions, per the N-PORT report).
- Monthly total returns reported for that quarter: +1.58%, -2.85%, +0.15%.
How it works
THLV tracks the THOR Equal Weight Low Volatility Index. The fund's adviser, THOR Analytics, LLC (doing business as THOR Financial Technologies), owns and built the index, and Solactive AG calculates it. The index starts from a "Select List" of ten U.S. sector ETFs: materials, energy, financials, industrials, technology, health care, utilities, consumer discretionary, real estate and consumer staples. The fund buys other funds rather than individual stocks, which makes it a fund of funds.
Each week, a proprietary algorithm checks each sector ETF's price momentum (its price trend) over the past three to six months. It labels each sector "risk on" (buy) or "risk off" (sell), and only risk-on sectors stay in. If all ten qualify, each gets 10%. If some drop out, the rest are weighted equally, up to 20% each. Anything left over goes to U.S. money market funds or cash. In a long decline, the index can sit entirely in cash.
As of August 31, 2026, the fund held six sector ETFs at roughly 15% to 17% each: health care, materials, financials, industrials, real estate and utilities. It also held about 4% in a SPDR Bloomberg fund. Technology, energy and both consumer sectors were out. Weekly rebalancing led to 519% portfolio turnover. Trend signals react only after a move has started, so the fund can be late getting out of a falling sector and late getting back in.
What it really costs
- THLV charges 0.64% a year, versus an average of 0.86% for the similar funds below (1st of 8, cheapest first).
- Of that, 0.55% is the management fee; the rest covers other fund expenses.
- Using the prospectus's standard example, $10,000 invested would cost about $65 in the first year and $798 over 10 years (assuming a 5% annual return).
| Cost of $10,000 (SEC example) | 1 yr | 3 yrs | 5 yrs | 10 yrs |
|---|---|---|---|---|
| THLV | $65 | $205 | $357 | $798 |
Structure and tax notes
- Invests in other funds rather than directly in stocks or bonds, so its holdings are those funds.
In a retirement portfolio
Its trend signals can move money out of falling sectors and into cash, and it has swung about half as much as the market, though returns have trailed widely.
THLV's trend signals try to avoid falling sectors. Its one-year beta of 0.49 as of October 27, 2026 means it was about half as sensitive to market moves. Its record is short. It launched September 12, 2022, so it missed the 2008 and 2020 crashes and most of the 2022 bear market. Its weakest full year, 2023, still gained 5.9%. Its deepest drop was 13.1%, from November 29, 2024 to April 21, 2025. It recovered by July 23, 2025, about three months later. Smaller drops could mean selling fewer shares at low prices in a bad year. But a sudden crash could hit before the weekly signals react.
The yield was 1.67% for the 12 months to October 27, 2026, paid once a year, so it offers little regular income. It costs 0.64% a year. Past results don't predict future ones, and a plan should look at the whole portfolio, not one fund.
Who it may suit — and who should look elsewhere
May suit
- Investors who want U.S. stock exposure with a rules-based trend filter that can move into money market funds or cash during long declines.
- Holders willing to accept lower returns for smaller swings: one-year beta was 0.49 and the deepest drop 13.1% as of October 27, 2026.
- Investors comparing risk-managed stock funds. Its 0.64% expense ratio is below the 0.86% average of the buffer ETFs it was grouped with.
Look elsewhere if
- Anyone seeking full S&P 500 returns: through December 31, 2024, the fund returned 6.27% a year since inception, against 18.67% for the index.
- Investors who need steady income. The trailing 12-month yield was 1.67% as of October 27, 2026, paid just once a year.
- Those wary of small funds or heavy trading: net assets were about $56 million as of August 31, 2026, with 519% portfolio turnover.
Close alternatives
Matched by other buffer (defined-outcome) funds, largest first.
| Fund | Cost | Net assets | 1 yr | 3 yr |
|---|---|---|---|---|
| THLV this fund | 0.64% | $56.1M | +5.3% | +12.1% |
| BUFR FT Vest Laddered Buffer ETF | 0.95% | $10.49B | +11.6% | +16.8% |
| BUFD FT Vest Laddered Deep Buffer ETF | 0.95% | $2.04B | +9.5% | +13.9% |
| PJAN Innovator U.S. Equity Power Buffer ETF - Ja… | 0.79% | $1.44B | +10.5% | +14.8% |
| PDEC Innovator U.S. Equity Power Buffer ETF - De… | 0.79% | $984.1M | +11.6% | +14.9% |
| FDEC FT Vest US Equity Buffer ETF - December | 0.85% | $1.31B | +12.9% | +18.5% |
| FJAN FT Vest US Equity Buffer ETF - January | 0.85% | $1.47B | +12.3% | +17.4% |
| FFEB FT Vest U.S. Equity Buffer Fund - February | 0.85% | $1.42B | +12.9% | +18.6% |
Questions investors ask
What does THLV hold?
THLV holds other ETFs, not individual stocks. As of August 31, 2026, it had seven positions. Six were sector ETFs: health care (16.7%), materials (16.5%), financials (16.4%), industrials (15.7%), real estate (15.7%) and utilities (15.2%). The seventh was a SPDR Bloomberg fund at 4.1%. Technology, energy, consumer discretionary and consumer staples had been screened out by the index's trend signals. The mix can change every week.
Is THLV good for retirees?
It depends on what a retiree wants from it. THLV aims for smaller swings than the market. Its one-year beta was 0.49 and its deepest drop was 13.1% as of October 27, 2026. But it launched in September 2022 and has not been through a full bear market. It yields 1.67%, paid once a year, and has trailed the S&P 500 by a wide margin. It may suit those who care more about a smoother ride than about growth.
THLV vs BUFR: what's the difference?
They manage risk in different ways, so BUFR is not a direct substitute. BUFR, the FT Vest Laddered Buffer ETF, is a buffer fund. Buffer funds use options to soften losses within set ranges in exchange for capped gains. THLV instead rotates among sector ETFs and cash based on trend signals. THLV costs less (0.64% versus 0.95%). As of October 27, 2026, it returned 5.3% over one year and 12.1% a year over three years. BUFR returned 11.6% and 16.8%.
Does THLV pay a dividend?
Yes, but only once a year. In the 12 months to October 27, 2026, THLV paid $0.53 per share, a trailing yield of 1.67%. The payout comes from what its underlying ETFs and any money market holdings pay out, so the amount can change from year to year. With a modest yield and annual payments, the fund is not designed for investors who need monthly or quarterly income.
What is THLV's expense ratio?
THLV's expense ratio is 0.64% a year, which includes a 0.55% management fee, according to the prospectus filed December 23, 2025. The SEC uses a standard example of $10,000 earning 5% a year. In that example, costs would total about $65 after one year, $205 after three, $357 after five and $798 after ten. Weekly rebalancing also led to 519% portfolio turnover. Trading costs from turnover are not included in the expense ratio.