What Is the TRIO ETF? A Complete Guide to Returns, Expense Ratio, Holdings, and Alternative ETFs
The MC Trio Equity Buffered ETF (TRIO) combines options-based exposure to US large caps, US small caps, and developed international equities to cushion losses down to a predefined level. It is a useful reference for investors interested in downside protection strategies and diversified exposure across related assets.
SubscribeWhat Is the MC Trio Equity Buffered ETF?
This is an actively managed buffered ETF that uses listed option contracts to gain exposure to three asset classes (US large-cap stocks, US small-cap stocks, and developed international stocks), seeking upside potential while cushioning losses down to a set level.
It suits medium- to long-term investors who want to participate in equity gains while keeping a certain level of downside protection.
It is an actively managed ETF run by McCarthy & Cox.
How Does the MC Trio Equity Buffered ETF Invest?
| Item | Details |
|---|---|
| Tracked Index | Options strategy on US large-cap, US small-cap, and developed international equities (does not track a specific benchmark) |
| Management Style | Active (options-based buffered strategy) |
| Rebalancing Frequency | Reset when options expire |
| Dividend Frequency | Limited distribution history data |
| Expense Ratio | 0.70% |
The fund combines option positions linked to US large-cap, US small-cap, and developed international equities, gaining exposure to all three asset classes at once while cushioning downside losses down to a predefined level. The core of the design is a defensive structure that keeps upside participation while limiting the size of losses.
- Holds three asset classes (US large caps, US small caps, and developed international equities) in a single product
- Uses option contracts to protect against losses within a predefined range
MC Trio Equity Buffered ETF Size and Costs (AUM and Management Fee)
Assets under management (AUM) stand at $124.1M, and the expense ratio is 0.70% per year.
Unlike the comparison funds shown in the table, this is an options-based strategy that explicitly builds downside protection into its design, which makes its character different.
MC Trio Equity Buffered ETF Performance and Trends
1-Year Price Performance
Dividend & Yield
52-Week Price RangeBecause the buffer range and participation rate are reset with each options expiration cycle, the fund follows a different path from products that purely track a stock index, and it tends to show relatively muted swings during periods of market volatility.
The buffered and defined outcome ETF category as a whole has drawn attention on demand for downside protection, and this fund is establishing itself within that trend as a multi-asset alternative.
MC Trio Equity Buffered ETF Pros and Cons
Its strengths are downside protection and multi-asset diversification, while its weaknesses are the cap on upside participation and the complexity of the options structure.
💪 Key Strengths
⚠️ Points to Watch
MC Trio Equity Buffered ETF Alternative ETFs and Related Products
The comparison ETFs shown in the table follow trends or use region-specific strategies, whereas this ETF differs in its focus on options-based downside protection. Within the same defined outcome category, you can also compare IBFR, which applies a buffer structure to developed international equities, JANP, a buffer strategy based on the S&P 500, and a group of products using buffer strategies based on the Nasdaq 100. Each has a different buffer range and target asset class, so you should choose according to your investment goals.
Peer Comparison ETFs| Ticker | Name | Price | Change | AUM | Total Expense Ratio | Dividend Yield | 1Y |
|---|---|---|---|---|---|---|---|
 QQH | HCM Defender 100 Index ETF | $80.65 | -4.1% | $744.1M | 0.98% | 0.2% | +0.3% |
 FGM | First Trust Germany AlphaDEX Fund | $57.54 | -1.3% | $87.2M | 0.80% | 1.86% | -1.5% |
 TRND | Pacer Trendpilot Fund of Funds ETF | $36.28 | -1.0% | $62.4M | 0.77% | 2.15% | +6.4% |
 FSZ | First Trust Switzerland AlphaDEX Fund | $81.79 | -0.5% | $37.0M | 0.80% | 2% | +5.9% |
 FKU | First Trust United Kingdom AlphaDEX Fund | $54.55 | -0.9% | $35.6M | 0.80% | 3.8% | +13.1% |
Top Holdings| Ticker | Name | Weight | Price | Change | Market Cap | P/E | Dividend Yield |
|---|---|---|---|---|---|---|---|
 FAF | First American Financial Corp | 0.04% | $63.82 | +0.2% | $6.5B | 9.0 | 3.64% |
MC Trio Equity Buffered ETF Investor Checkpoints
Here are the points to review before investing in TRIO. Given its options-based buffered structure, you should carefully check the buffer range, the participation rate conditions, and the way the multi-asset combination is built in advance.
| Checkpoint | What to Check | Current Status |
|---|---|---|
| 💵 Expense Ratio | Check the fee level resulting from running an options strategy | Active management fee applies |
| 🛡️ Buffer Range | Check the loss protection range for each options expiration | Reset at each expiration |
| 📊 Upside Participation | Check whether the fund participates in the full upside of a bull market | Limited participation structure |
| 🌍 Asset Composition | Check the weights of US large caps, US small caps, and developed international equities | Multi-asset combination maintained |
Because of the options structure, upside participation may be limited, and losses beyond the buffer range are reflected in full. It is also worth noting that the fund's short track record means its performance has not yet been sufficiently tested across different market conditions.
This is an options-based buffered ETF worth considering for investors who want both downside protection and multi-asset diversification. The limited upside participation and short track record are points to confirm before investing.
SubscribeDisclaimer: This content is for informational purposes only and does not constitute investment advice. All investment responsibility lies with the investor.
This article reflects information as of July 2, 2026.
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