Aptus Collared Investment Opportunity ETF
ALTAR
Score™		 4.1% info Recommen-
dation		 UNDERWEIGHT
2024E    2025E
P/E
ratio		 25.8x P/Sales
ratio		 4.1x
P/BV
ratio		 5.3x Div.
yield		 1.2%


  • Description
  • Performance
  • Comps
  • premium Fundamentals
  • premium Valuation
  • premium Rating
The Aptus Collared Income Opportunity ETF is an actively-managed portfolio of U.S. large cap equities as well as corresponding options collars for those constituents.

FUND BASICS
Category US Equities
Fund Sponsor Aptus Capital Advisors
Website www.aptusetfs.com
Inception date Jul 09, 2019
Assets (mns) $1,589
Currency USD
Expense ratio 79 bp
Distributions Quarterly

FUND STRUCTURE
Regulation Open-Ended Fund
Custodian
Weighting Proprietary
Index replication
Uses derivatives Yes
Options available No

SECTOR BREAKDOWN

 


CONSTITUENT BREAKDOWN
No. of constituents 76
Wgt avg mkt cap (mns) $905,160
Large cap (>$10bn) 100.0%
Mid cap ($2-10bn) 0.0%
Small cap (<$2bn) 0.0%
Developed mkts 100.0%
Emerging mkts 0.0%

TOP TEN HOLDINGS
APPLE INC 7.4 %
MICROSOFT CORP 6.5 %
NVIDIA CORP 6.5 %
AMAZON.COM INC 4.2 %
ALPHABET INC. CLASS C 4.0 %
META PLATFORMS INC 2.7 %
BROADCOM INC. 2.6 %
TESLA MOTORS INC 2.4 %
SERVICENOW INC 2.2 %
JPMORGAN CHASE & CO 1.9 %
Total 40.3 %

TOP COUNTRY EXPOSURE
UNITED STATES 96.3 %
IRELAND 1.7 %
BRITAIN 1.2 %








HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru November 30)
Year-to-date 1 year 5 years 10 years Since Incep.
24.3% 27.8% 11.3% -- 11.6%

Market Correlations
versus... Beta R-squared
S&P500 0.63 95%
MSCI EAFE 0.53 67%
MSCI Emg. Mkts. 0.39 35%

Technical Indicators
Recent close $40.48
30d moving avg. $40.93
Annualized volatility 11.3%
Short interest (ETF) 0.4%
Short interest (Underlying) 1.1%
Relative strength (RSI) 51

Liquidity measures
Avg. volume (thou.) 181
Turnover 0.5%
Bid/Ask (% of price) 0.16%
ADV underlying (mns) $133,393

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 34 potential alternatives to the Aptus Collared Investment Opportunity ETF ETF based on the alternatives' overlap in portfolio holdings with ACIO. Consider funds with lower expense ratios and/or higher ALTAR Score™ ratings as possible alternatives.

Benchmark ticker: ACIO Expense: 79 bp ALTAR Score™: 4.1%


ALTERNATIVE ETFs BASED ON OVERLAP WITH ACIO
Ticker Fund
Name		 Overlap1
vs ACIO
(%)		 Expense
ratio
(bp)		 Savings
vs ACIO
(bp)		 ALTAR
Score™
(%)		 ALTAR
vs ACIO
(%)
PBP Invesco S&P 500 BuyWrite ETF 59.6 49 30 4.5 +0.3
XRMI Global X S&P 500 Risk Managed Income ETF 59.4 60 19 4.4 +0.2
XYLD Global X S&P 500 Covered Call ETF 59.4 60 19 4.3 +0.2
XYLG Global X S&P 500 Covered Call & Growth ETF 59.0 60 19 4.4 +0.3
XTR Global X S&P 500 Tail Risk ETF 58.5 26 53 5.0 +0.8
XCLR Global X S&P 500 Collar 95-110 ETF 58.4 25 54 5.0 +0.8
SFLR Innovator Equity Managed Floor ETF 55.3 89 -10 4.1 -0.1
JEPQ J.P. Morgan Nasdaq Equity Premium Income ETF 52.1 35 44 4.4 +0.2
FTHI First Trust BuyWrite Income ETF 51.2 75 4 4.8 +0.6
XYLE Global X S&P 500 ESG Covered Call ETF 50.2 60 19 4.7 +0.6
EFIV SPDR S&P 500 ESG ETF 49.8 10 69 5.1 +1.0
QYLD Global X NASDAQ 100 Covered Call ETF 48.2 60 19 4.1 -0.1
QRMI Global X NASDAQ 100 Risk Managed Income ETF 48.2 60 19 4.0 -0.1
QYLG Global X Nasdaq 100 Covered Call & Growth ETF 48.0 60 19 4.1 -0.1
NUSI Nationwide Nasdaq-100 Risk-Managed Income ETF 47.9 68 11 4.0 -0.1
QCLR Global X NASDAQ 100 Collar 95-110 ETF 47.9 25 54 4.4 +0.3
QTR Global X NASDAQ 100 Tail Risk ETF 47.8 26 53 4.4 +0.3
FTQI First Trust Nasdaq BuyWrite Income ETF 45.0 75 4 3.4 -0.7
QYLE Global X Nasdaq 100 ESG Covered Call ETF 44.5 60 19 4.2 +0.1
MMLG First Trust Multi-Manager Large Growth ETF 37.9 85 -6 1.9 -2.2
GARP iShares MSCI USA Quality GARP ETF 35.1 15 64 4.8 +0.7
SIXH ETC 6 Meridian Hedged Equity Index Option ETF 31.3 82 -3 5.8 +1.7
DJIA Global X Dow 30 Covered Call ETF 28.1 60 19 4.7 +0.6
DYLG Global X Dow 30 Covered Call & Growth ETF 28.0 60 19 4.8 +0.7
TYLG Global X Information Technology Covered Call & Growth ETF 27.6 60 19 4.6 +0.5
CCOR Core Alternative ETF 23.5 107 -28 4.8 +0.7
QQQA ProShares Nasdaq-100 Dorsey Wright Momentum ETF 20.9 58 21 3.8 -0.3
DIVO Amplify CWP Enhanced Dividend Income ETF 20.7 55 24 5.5 +1.4
KNG FT Vest S&P 500 Dividend Aristocrats Target Income ETF 14.8 75 4 5.7 +1.6
THNQ ROBO Global Artificial Intelligence ETF 14.0 68 11 1.4 -2.8
LCG Sterling Capital Focus Equity ETF 13.8 59 20 3.6 -0.5
FYLG Global X Financials Covered Call & Growth ETF 12.3 60 19 4.9 +0.8
HYLG Global X Health Care Covered Call & Growth ETF 9.5 60 19 7.2 +3.1
XVOL Acruence Active Hedge U.S. Equity ETF 8.4 83 -4 5.1 +1.0

1Overlap is the percentage of holdings by weight that are identical. For example, if Fund A has a 2% position in Apple, Inc. (AAPL) and Fund B has a 5% position, their overlapping position in AAPL is 2%.

Content on this tab for subscribers only**

RESULTS & ESTIMATES

  2019 2020 2021 2022 2023 2024E 2025E
Sales per share ** ** ** ** ** ** **
Earnings per share ** ** ** ** ** ** **
Dividends per share info ** ** ** ** ** ** **
Book value per share ** ** ** ** ** ** **

 

Sales per share growth   **% **% **% **% **% **%
EPS growth   **% **% **% **% **% **%

Sales per share growth   **% **% **% **% **% **%
EPS growth   **% **% **% **% **% **%

OTHER FUNDAMENTAL METRICS

Long term EPS growth est. **%   Debt-to-equity **x
Asset turnover **%   Assets-to-equity **x

Return on equity

Revision activity*
*Six months ago = 100

Net margins

Compound annual growth rates

Content on this tab for subscribers only

VALUATION METRICS
  2023 2024E 2025E
Price-to-sales ** ** **
Price-to-earnings ** ** **
Price-to-cash flow ** ** **
Price-to-growth ** ** **
Price-to-book value ** ** **
Yield ** ** **

Historical valuation trends

Forward
multiple:		 Aptus Collared Investment Opportunity ETF
Relative
to:		 S&P500 MSCI EAFE MSCI Emg. Mkts. Other ETF:

UNDERWEIGHT
Below average appreciation potential. A rating of UNDERWEIGHT is assigned to ETFs with ALTAR Scores in the 2nd quintile (ranking higher than only 20%-40%) of their category. Typically, funds in this category consist of stocks trading at relatively expensive valuations and/or having below-average fundamentals.

ALTAR Score™


Calculation of ALTAR Score™
Avg. Return on Equity 22.6 %
Divided by: Fwd. P/BV 4.6 x
Less: Expense ratio 79 bp
Equals: ALTAR Score 4.1 %
info More information on ALTAR Score™
MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING		 1.52 CATEGORY
AVERAGE		 1.58
 
The composite rating is a weighted average of analysts' consensus recommendations for individual ETF constituents, based on the following scale:

BUY = 1; OVERWEIGHT = 1.5, HOLD = 2; UNDERWEIGHT = 2.5; and SELL = 3.

Readers are cautioned that because analyst ratings tend to be inflated, the composite score may be more useful as a relative measure of sentiment between funds rather than as a stand-alone recommendation.
 

 

See RATING tab for calculation of ALTAR Score™
Risk & reward. Uses std. dev. as proxy for risk, ALTAR Score™ for return forecast.
Dividends paid by constituents to the fund. May differ from actual distributions to shareholders due to constituent changes, timing issues or other factors.
Monthly returns based on changes in price plus dividends. May differ from daily returns reported by funds. See below for standardized returns.