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Name

As of 11/07/2024

Price

Aum/Mkt Cap

YIELD

Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.

Exp Ratio

Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.

Watchlist

Aptus Collared Investment Opportunity ETF

ACIO | Active ETF

$40.93

$682 M

0.42%

$0.17

0.79%

Vitals

YTD Return

23.9%

1 yr return

31.9%

3 Yr Avg Return

9.4%

5 Yr Avg Return

11.3%

Net Assets

$682 M

Holdings in Top 10

37.2%

52 WEEK LOW AND HIGH

$40.7
$32.11
$40.93

Expenses

OPERATING FEES

Expense Ratio 0.79%

SALES FEES

Front Load N/A

Deferred Load N/A

TRADING FEES

Turnover 46.00%

Redemption Fee N/A

Min Investment

Standard (Taxable)

N/A

IRA

N/A

Fund Classification

Fund Type

Exchange Traded Fund

Name

As of 11/07/2024

Price

Aum/Mkt Cap

YIELD

Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.

Exp Ratio

Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.

Watchlist

Aptus Collared Investment Opportunity ETF

ACIO | Active ETF

$40.93

$682 M

0.42%

$0.17

0.79%

ACIO - Profile

Distributions

  • YTD Total Return 23.9%
  • 3 Yr Annualized Total Return 9.4%
  • 5 Yr Annualized Total Return 11.3%
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio 0.99%
DIVIDENDS
  • Dividend Yield 0.4%
  • Dividend Distribution Frequency Quarterly

Fund Details

  • Legal Name
    Aptus Collared Investment Opportunity ETF
  • Fund Family Name
    N/A
  • Inception Date
    Jul 09, 2019
  • Shares Outstanding
    13900000
  • Share Class
    N/A
  • Currency
    USD
  • Domiciled Country
    US
  • Manager
    Beckham Wyrick

Fund Description

The Fund is an actively managed exchange-traded fund (“ETF”) that seeks to achieve its investment objective principally by investing in a portfolio of U.S.-listed equity securities of any market capitalization and buying put options or an options collar (i.e., a mix of written (sold) call options and long (bought) put options) on the same underlying equity securities, a U.S. equity ETF, or on an index tracking a portfolio of U.S. equity securities (a “U.S. Equity Index”). The U.S. Equity Index, U.S. equity ETF, and the underlying equity securities may be of any market capitalization. The equity securities and options held by the Fund must be listed on a U.S.-exchange, and the equity securities may include common stocks of U.S. companies, American Depositary Receipts (“ADRs”) (i.e., receipts evidencing ownership of foreign equity securities), and real estate investment trusts (“REITs”). The Fund will typically limit investments in ADRs to approximately 20% of the Fund’s net assets.
Aptus Capital Advisors, LLC, the Fund’s investment adviser (“Aptus” or the “Adviser”), selects the Fund’s equity securities based on the Adviser’s assessment of the likelihood that the dividends paid by the issuer will increase or remain stable and based on the liquidity of the options available for such security. The Adviser considers factors primarily related to yield, earnings growth, revenue growth, and distribution history in assessing the likelihood that the dividends paid by an issuer will increase or remain stable. No more than 30% of the Fund’s net assets will typically be invested in companies in a single sector. The Adviser may replace a security if it believes another security offers a better value proposition, with a bias for low portfolio turnover.
The Fund’s options collar strategy typically consists of two components: (i) selling covered call options on up to 100% of the equity securities held by the Fund to generate premium from such options, while (ii) simultaneously reinvesting a portion of such premium to buy put options on the same underlying equity securities, a U.S. equity ETF, or the U.S. Equity Index to “hedge” or mitigate the downside risk associated with owning equity securities. The Fund seeks to generate income from the combination of dividends received from the equity securities held by the Fund and premiums received from the sale of options. Additionally, the Fund may purchase put options or utilize a combination of purchased and written (sold) put options (known as a “spread”) on one or more equity securities, a U.S. equity ETF, or a U.S. Equity Index to “hedge” or mitigate the downside risk associated with owning equity securities.
Call Options. A call option gives the purchaser the right to purchase shares of the reference asset at a specified strike price prior to a specified expiration date. The purchaser pays a cost (premium) to purchase the call option. In the event the reference asset appreciates in value, the value of the call option will generally increase, and in the event the reference asset declines in value, the call option may end up worthless to the holder and the premium may be lost. A written (sold) call option gives the seller the obligation to sell shares of the reference asset at a specified price (“strike price”) until a specified date (“expiration date”). The writer (seller) of the call option receives an amount (premium) for writing (selling) the option. In the event the reference asset appreciates above the strike price and the holder exercises the call option, the writer (seller) of the call option will have to pay the difference between the value of the reference asset and the strike price or deliver the reference asset (which loss is offset by the premium initially received), and in the event the reference asset declines in value, the call option may end up worthless and the writer (seller) of the call option retains the premium. The call options written by the Fund are “covered” because the Fund owns the reference asset at the time it sells the option.
Put Options. A put option gives the purchaser the right to sell shares of the reference asset at a strike price prior to its expiration date. The purchaser pays a cost (premium) to purchase the put option. In the event the reference asset declines in value below the strike price and the holder exercises its put option, the holder will be entitled to receive the difference between the value of the reference asset and the strike price (which gain is offset by the premium originally paid by the holder), and in the event the reference asset closes above the strike price as of the expiration date, the put option may end up worthless and the holder’s loss is limited to the amount of premium it paid.
A written (sold) put option gives the seller the obligation to buy shares of the reference asset at a strike price until its expiration date. The writer (seller) of the put option receives an amount (premium) for writing (selling) the option. In the event the reference asset declines in value below the strike price and the holder exercises the put option, the writer (seller) of the put option will have to pay the difference between the value of the reference asset and the strike price or deliver the reference asset (which loss is offset by the premium initially received), and in the event the reference asset appreciates in value, the put option may end up worthless and the writer (seller) of the put option retains the premium. The put options written by the Fund are considered “covered” when the Fund owns at least an equivalent number of put options on the same reference asset with the same expiration date and a higher strike price at the time it sells the options.
The Fund may write call options on up to 100% of each equity position held in the portfolio and will use a portion of the premium received from writing such call options to purchase put options. Call options written by the Fund will typically have a strike price that is higher than the current price of the reference asset, and put options purchased by the Fund will typically have a strike price that is lower (in some cases, significantly lower) than the current price of the reference asset. Options selected for the Fund will typically expire one week to nine months from their purchase date and will be rolled periodically (e.g., monthly) to continue generating income or to reflect the Adviser’s revised outlook on the underlying portfolio security. When an option is rolled, the Adviser simultaneously closes one option contract and opens another. The new contract opened can have a further-dated expiration (i.e., the option would be rolled “out”), higher strike price (i.e., rolled “up”), lower strike price (i.e., rolled “down”), or a combination of both a different expiration and strike.
In addition to the options strategies discussed above, the Fund may utilize a “bull call spread” options strategy. The Fund’s bull call spread strategy entails (i) the purchase of at-the-money call options (i.e., call options with a strike price roughly equal to the current price of the underlying asset) on an index or ETF tracking an index representing the U.S. equity market and (ii) writing (selling) out-of-the-money call options (i.e., call options with a strike price higher than the current price of the underlying asset) on the same index or ETF. The bull call spread strategy is intended to profit from moderate increases in the value of the reference asset (up to the strike price of the written call options). The Fund may also purchase call options on the securities held by the Fund to enable the Fund to further benefit from an increase in the value of such securities.
In addition, the Adviser may utilize a combination of purchased and written (sold) put or call options on the Cboe Volatility Index® (the “VIX® Index”). The VIX Index reflects a calculation designed to produce a measure of constant, 30-day expected volatility of the U.S. stock market, derived from real-time, mid-quote prices of S&P 500® Index call and put options. The Fund may use VIX call or put options as a hedge when the market is experiencing a rapid change in volatility, and the Adviser generally expects to invest less than 1% of the Fund’s net assets in VIX Index call and put options at the time of investment.
As of July 31, 2024, the Fund invested a significant portion of its assets in the information technology and consumer sectors; however, the Fund’s sector exposure may change from time to time.
Read More

ACIO - Performance

Return Ranking - Trailing

Period ACIO Return Category Return Low Category Return High Rank in Category (%)
YTD 23.9% -2.8% 240.8% 35.97%
1 Yr 31.9% -4.3% 140.6% 54.35%
3 Yr 9.4%* -8.3% 18.3% N/A
5 Yr 11.3%* -5.0% 17.3% N/A
10 Yr N/A* -4.6% 13.2% N/A

* Annualized

Return Ranking - Calendar

Period ACIO Return Category Return Low Category Return High Rank in Category (%)
2023 15.0% -34.1% 904.0% 24.77%
2022 -11.6% -28.6% 438.4% N/A
2021 17.3% -93.5% 8.2% N/A
2020 8.6% -38.9% 19.8% N/A
2019 N/A -10.9% 12.8% N/A

Total Return Ranking - Trailing

Period ACIO Return Category Return Low Category Return High Rank in Category (%)
YTD 23.9% -2.7% 244.0% 33.60%
1 Yr 31.9% -4.3% 140.6% 53.91%
3 Yr 9.4%* -8.3% 18.3% N/A
5 Yr 11.3%* -5.4% 17.3% N/A
10 Yr N/A* -4.6% 13.2% N/A

* Annualized

Total Return Ranking - Calendar

Period ACIO Return Category Return Low Category Return High Rank in Category (%)
2023 15.9% -34.1% 904.0% 24.77%
2022 -10.3% -5.9% 438.4% N/A
2021 18.0% -81.2% 8.2% N/A
2020 9.9% -29.0% 19.8% N/A
2019 N/A -10.9% 12.8% N/A

ACIO - Holdings

Concentration Analysis

ACIO Category Low Category High ACIO % Rank
Net Assets 682 M 25 17.4 B 30.34%
Number of Holdings 109 2 508 22.90%
Net Assets in Top 10 423 M -6.66 M 5.12 B 50.00%
Weighting of Top 10 37.24% 11.3% 100.0% 62.67%

Top 10 Holdings

  1. Apple Inc 6.92%
  2. Microsoft Corp 6.73%
  3. NVIDIA Corp 6.16%
  4. Alphabet Inc 4.01%
  5. Amazon.com Inc 3.66%
  6. Meta Platforms Inc 2.22%
  7. Broadcom Inc 2.01%
  8. Exxon Mobil Corp 1.93%
  9. JPMorgan Chase Co 1.86%
  10. ServiceNow Inc 1.74%

Asset Allocation

Weighting Return Low Return High ACIO % Rank
Stocks 		98.79% -3.92% 100.76% 4.20%
Other 		0.65% 0.00% 45.92% 52.67%
Cash 		0.56% -0.76% 100.29% 93.13%
Preferred Stocks 		0.00% 0.00% 3.08% 41.22%
Convertible Bonds 		0.00% 0.00% 20.91% 43.51%
Bonds 		0.00% 0.00% 97.96% 47.33%

Stock Sector Breakdown

Weighting Return Low Return High ACIO % Rank
Technology 		27.01% 0.00% 44.43% 68.91%
Healthcare 		13.91% 0.00% 25.91% 18.49%
Financial Services 		12.36% 0.00% 29.60% 32.35%
Consumer Cyclical 		9.30% 0.00% 19.02% 86.55%
Industrials 		9.16% 1.41% 43.91% 18.07%
Consumer Defense 		6.38% 0.00% 22.87% 20.59%
Communication Services 		6.10% 0.00% 21.22% 73.95%
Energy 		5.71% 0.00% 69.54% 24.37%
Basic Materials 		3.89% 0.00% 60.58% 28.15%
Real Estate 		3.46% 0.00% 9.74% 20.17%
Utilities 		2.73% 0.00% 13.35% 24.79%

Stock Geographic Breakdown

Weighting Return Low Return High ACIO % Rank
US 		98.79% -3.89% 100.00% 3.44%
Non US 		0.00% -2.17% 99.33% 70.61%

ACIO - Expenses

Operational Fees

ACIO Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 0.79% 0.20% 6.78% 79.01%
Management Fee 0.79% 0.20% 1.75% 39.55%
12b-1 Fee 0.00% 0.00% 1.00% 25.29%
Administrative Fee N/A 0.02% 0.28% N/A

Sales Fees

ACIO Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load N/A 4.75% 5.75% N/A
Deferred Load N/A 1.00% 1.00% N/A

Trading Fees

ACIO Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Max Redemption Fee N/A 1.00% 2.00% N/A

Related Fees

Turnover provides investors a proxy for the trading fees incurred by mutual fund managers who frequently adjust position allocations. Higher turnover means higher trading fees.

ACIO Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 46.00% 0.00% 456.80% 91.52%

ACIO - Distributions

Dividend Yield Analysis

ACIO Category Low Category High ACIO % Rank
Dividend Yield 0.42% 0.00% 3.76% 5.20%

Dividend Distribution Analysis

ACIO Category Low Category High Category Mod
Dividend Distribution Frequency Quarterly Annually Monthly Annually

Net Income Ratio Analysis

ACIO Category Low Category High ACIO % Rank
Net Income Ratio 0.99% -2.54% 14.24% 5.74%

Capital Gain Distribution Analysis

ACIO Category Low Category High Capital Mode
Capital Gain Distribution Frequency Annually Annually Annually Annually

Distributions History

View More +

ACIO - Fund Manager Analysis

Managers

Beckham Wyrick

Start Date

Tenure

Tenure Rank

Jul 09, 2019

2.9

2.9%

Beckham David Wyrick, Jr. (year of birth 1983) joined ACA in 2016 and serves as Portfolio Manager and Chief Compliance Officer. Beckham focuses on custom research, and is heavily involved in managing the Aptus Funds. In addition, he also builds and maintains asset allocation models for individual investors in separately managed accounts. Beckham is currently a Level 2 candidate in the CFA Program. Beckham attended the University of North Carolina at Wilmington, where he was also a member of the men’s basketball team. He graduated in 2006 with a Bachelor’s Degree in Finance. Beckham currently resides in Fairhope, Alabama with his wife, Johanna and their two children, Ada and Henri.

John Gardner

Start Date

Tenure

Tenure Rank

Jul 09, 2019

2.9

2.9%

John David Gardner is the Founder and majority owner of ACA. John David began his career in the financial services industry when he joined Morgan Stanley Smith Barney as a Financial Advisor in 2010. JD attended the Raj Soin College of Business, Wright State University for both undergraduate (BS in Business with a Major in Financial Services) and graduate degrees (MBA with a concentration in Finance). He founded Aptus in 2013 to provide access to stock market exposure while recognizing risk - both market and behavioral. Aptus is an innovative investment manager located in Fairhope, Alabama focused on behavioral finance and serves as the Index Provider to the Aptus Behavioral Momentum Index and adviser to the Aptus Behavioral Momentum ETF. John David has also passed the Series 3, 7, 66, and 31 securities license examinations.

John Tyner

Start Date

Tenure

Tenure Rank

Aug 31, 2020

1.75

1.8%

David Wagner

Start Date

Tenure

Tenure Rank

Aug 31, 2020

1.75

1.8%

David Wagner III is a Portfolio Manager and Analyst at Aptus since 2020. In his role as Portfolio Manager, he is responsible for portfolio construction, risk management, and buy/sell decisions. Additionally, he is responsible for implementation of the investment philosophy and idea generation, as well as the evaluation of macro-level trends and the market environment. Mr. Wagner began his career at Opus Capital Management in 2013 as an equity research analyst. He was most recently employed by Driehaus Capital Management as an Assistant Portfolio Manager where he was responsible for conducting research and analysis for various small and microcap strategies. Mr. Wagner is a CFA charterholder and a member of the CFA Society of Cincinnati. He earned his BS in Accounting and BBA in Finance from the University of Kentucky. He also earned his MBA specialized in Finance from Xavier University in Cincinnati, Ohio.

Tenure Analysis

Category Low Category High Category Average Category Mode
0.04 19.77 3.61 5.67

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