Cboe(R) Validus S&P 500(R) Dynamic Putwrite Index ETF
PUTD
Chicago Board Options Exchange- -
USD
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Capital Structure
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in mil. unless spec.Working Capital
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in mil. unless spec.Growth Rates
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in mil. unless spec.Quarterly Revenue
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in mil. unless spec.Quarterly Earnings Per Share
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in mil. unless spec.- Sector
- Financial Services
- Industry
- Asset Management
- Address
- IPO Date
- Aug 1, 2023
- Similar Companies
- Business
- Cboe(R) Validus S&P 500(R) Dynamic PutWrite Index ETF (PUTD) is an exchange-traded fund that seeks to track the performance, before fees and expenses, of the Cboe Validus S&P 500 Dynamic PutWrite Index. The fund employs a passive management strategy involving a dynamic put-writing approach on the S&P 500 Index, selling short positions in S&P 500 put options while investing option premiums into short-term US Treasuries or rotating weekly between long-term US Treasuries and high-yield corporate bonds via US-listed ETFs, based on proprietary signals comparing large-cap US equities and utilities; this aims to deliver enhanced risk-adjusted returns with superior Sharpe ratio, lower maximum drawdowns, shorter underperformance periods, and outperformance across neutral, bullish, and bearish markets relative to the S&P 500 benchmark. Launched on August 9, 2023, and listed on Cboe on August 10, 2023, the ETF is issued by Toroso Investments Topco LLC under the Validus brand, with Tidal Financial Group as investment adviser, Validus as sub-adviser, and Foreside Fund Services, LLC as distributor; it primarily serves institutional and retail investors seeking option overlay strategies, volatility control, and income uncorrelated with traditional yields, operating in the United States with exposure concentrated in US large-cap equities and fixed income. In a major operational change announced in September 2025, Tidal Investments LLC notified the board of the fund's intent to liquidate, with trading suspended and shareholder redemptions restricted from October 13 through October 17, 2025, due to failure to achieve economically viable size; additionally, Validus Risk Management, the sub-adviser, secured a $45 million growth equity investment from FTV Capital in February 2025 to support US and APAC expansion, technology, and product innovation.