Aptus Collared Income Opportunity ETF
ALTAR
Score™		 4.3% info Recommen-
dation		 UNDERWEIGHT
2020E    2021E
P/E
ratio		 25.0x P/Sales
ratio		 3.1x
P/BV
ratio		 4.9x Div.
yield		 1.7%


  • 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) $168
Currency USD
Expense ratio 79 bp
Distributions Quarterly

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

SECTOR BREAKDOWN

 


CONSTITUENT BREAKDOWN
No. of constituents 59
Wgt avg mkt cap (mns) $455,421
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 6.3 %
MICROSOFT CORP 5.4 %
AMAZON.COM INC 4.6 %
ALPHABET INC. CLASS C 3.5 %
LAM RESEARCH CORP 2.4 %
FACEBOOK 2.2 %
COMCAST CORP-CL A 2.2 %
ANALOG DEVICES INC 2.0 %
DOLLAR GENERAL CORP 2.0 %
JPMORGAN CHASE & CO 2.0 %
Total 32.6 %

TOP COUNTRY EXPOSURE
UNITED STATES 95.4 %
IRELAND 3.6 %
BRITAIN 0.5 %








HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru October 31)
Year-to-date 1 year 5 years 10 years Since Incep.
3.0% 6.8% -- -- 7.9%

Market Correlations
versus... Beta R-squared
S&P500 0.24 40%
MSCI EAFE 0.26 41%
MSCI Emg. Mkts. 0.15 20%

Technical Indicators
Recent close $27.39
30d moving avg. $27.03
Annualized volatility 8.4%
Short interest (ETF) 0.0%
Relative strength (RSI) 52

Liquidity measures
Avg. volume (thou.) 37
Turnover 0.6%
Bid/Ask (% of price) 0.29%
ADV underlying (mns) $73,080

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 100 potential alternatives to the Aptus Collared Income 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™: 4.3%


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
(%)
ADME Aptus Drawdown Managed Equity ETF 57.8 79 0 3.4 -0.9
XLG Invesco S&P 500 Top 50 ETF 54.3 20 59 4.2 -0.1
OEF iShares S&P 100 ETF 53.0 20 59 4.5 +0.2
BKLC BNY Mellon US Large Cap Core Equity ETF 51.2 0 79 4.7 +0.4
IWL iShares Russell Top 200 ETF 51.0 15 64 4.6 +0.3
MGC Vanguard Mega Cap Index Fund 50.5 7 72 4.8 +0.5
EFIV SPDR S&P 500 ESG ETF 47.9 10 69 4.7 +0.4
SNPE Xtrackers S&P 500 ESG ETF 47.9 10 69 4.7 +0.4
PBP Invesco S&P 500 BuyWrite ETF 47.5 49 30 4.6 +0.3
JUST Goldman Sachs JUST U.S. Large Cap Equity ETF 47.4 20 59 4.6 +0.3
HSPX Global X S&P 500 Covered Call ETF 47.2 60 19 4.6 +0.3
XYLG Global X S&P 500 Covered Call & Growth ETF 46.6 60 19 4.6 +0.3
SPY SPDR S&P 500 ETF Trust 46.3 9 70 4.9 +0.6
IVV iShares Core S&P 500 ETF 46.3 3 76 5.0 +0.7
SPLG SPDR Portfolio Large Cap ETF 46.3 3 76 5.0 +0.7
SPYX SPDR S&P 500 Fossil Fuel Reserves Free ETF 46.0 20 59 4.9 +0.6
SPXE ProShares S&P 500 Ex-Energy ETF 45.9 27 52 4.9 +0.6
VOO VANGUARD S&P 500 ETF 45.6 3 76 5.0 +0.7
ESGV Vanguard ESG U.S. Stock ETF 45.5 12 67 4.7 +0.4
SPXN ProShares S&P 500 Ex-Financials ETF 44.7 27 52 4.6 +0.3
ESG FlexShares STOXX US ESG Impact Index Fund 44.3 32 47 4.7 +0.4
GSUS Goldman Sachs MarketBeta U.S. Equity ETF 44.3 7 72 4.8 +0.5
VOOG Vanguard S&P 500 Growth ETF 44.1 10 69 4.1 -0.2
BBUS JP Morgan Betabuilders U.S. Equity ETF 43.4 2 77 4.8 +0.5
SPYG SPDR Portfolio S&P 500 Growth ETF 43.1 4 75 4.1 -0.2
IVW iShares S&P 500 Growth ETF 43.1 18 61 4.0 -0.3
PBUS Invesco PureBeta MSCI USA ETF 43.0 4 75 4.8 +0.5
SPXV ProShares S&P 500 Ex-Health Care ETF 42.8 27 52 4.6 +0.3
VV Vanguard Large-Cap Index Fund 42.8 4 75 4.8 +0.5
NACP Impact Shares NAACP Minority Empowerment ETF 42.6 75 4 4.5 +0.2
IWY iShares Russell Top 200 Growth ETF 42.6 20 59 3.7 -0.6
ESGU iShares MSCI USA ESG Optimized ETF 42.4 15 64 4.6 +0.3
XOUT GraniteShares XOUT U.S. Large Cap ETF 42.4 60 19 3.8 -0.5
SPTM SPDR Portfolio Total Stock Market ETF 42.4 3 76 5.1 +0.8
IUSG iShares Core S&P US Growth ETF 41.8 4 75 4.1 -0.2
USMC Principal U.S. Mega-Cap Multi-Factor Index ETF 41.8 12 67 4.5 +0.2
SCHX Schwab U.S. Large-Cap ETF 41.6 3 76 4.8 +0.5
MMTM SPDR S&P 1500 Momentum Tilt ETF 41.3 12 67 4.1 -0.2
IWB iShares Russell 1000 ETF 40.8 15 64 4.7 +0.4
SCHK Schwab 1000 Index ETF 40.6 5 74 4.8 +0.5
IQSU IQ Candriam ESG US Equity ETF 40.5 9 70 4.7 +0.4
CATH Global X S&P 500 Catholic Values Custom ETF 40.5 29 50 4.7 +0.4
IYY iShares Dow Jones U.S. ETF 40.2 20 59 4.6 +0.3
DLN WisdomTree U.S. LargeCap Dividend Fund 39.6 28 51 6.0 +1.7
IWF iShares Russell 1000 Growth ETF 39.6 19 60 3.6 -0.7
FDLO Fidelity Low Volatility Factor ETF 39.4 29 50 4.9 +0.6
MGK Vanguard Mega Cap Growth ETF 39.4 7 72 3.8 -0.5
VTHR Vanguard Russell 3000 Index Fund 39.4 10 69 4.6 +0.3
SPQQ Siren Large Cap Blend Index ETF 39.1 20 59 4.4 +0.1
VONG Vanguard Russell 1000 Growth Index Fund 39.1 8 71 3.7 -0.6
EPS WisdomTree U.S. Earnings 500 Fund 39.0 8 71 5.9 +1.6
JKD iShares Morningstar Large-Cap ETF 38.7 20 59 5.3 +1.0
SPXT ProShares S&P 500 Ex-Technology ETF 38.7 27 52 5.1 +0.8
FLLV Franklin Liberty U.S. Low Volatility ETF 38.5 29 50 5.2 +0.9
PLC Principal U.S. Large-Cap Multi-Factor Core Index ETF 38.5 15 64 5.8 +1.5
RECS Columbia Research Enhanced Core ETF 38.5 15 64 5.2 +0.9
IWV iShares Russell 3000 ETF 38.2 20 59 4.5 +0.2
SCHB Schwab U.S. Broad Market ETF 38.0 3 76 4.7 +0.4
WOMN Impact Shares YWCA Women's Empowerment ETF 38.0 75 4 3.7 -0.6
SFY SoFi Select 500 ETF 37.9 0 79 4.7 +0.4
PFM Invesco Dividend Achievers ETF 37.9 53 26 5.0 +0.7
ITOT iShares Core S&P Total U.S. Stock Market ETF 37.8 3 76 4.6 +0.3
VIG Vanguard Dividend Appreciation Index Fund 37.5 6 73 5.0 +0.7
FVAL Fidelity Value Factor ETF 37.4 29 50 7.1 +2.8
FDMO Fidelity Momentum Factor ETF 37.4 29 50 3.1 -1.2
QLV FlexShares US Quality Low Volatility Index Fund 37.4 22 57 4.6 +0.3
QARP Xtrackers Russell 1000 US Quality at a Reasonable Price ETF 37.3 19 60 5.5 +1.2
GSLC Goldman Sachs ActiveBeta U.S. Large Cap Equity ETF 37.1 9 70 5.2 +0.9
VONE Vanguard Russell 1000 ETF 37.1 8 71 4.7 +0.4
TMFC Motley Fool 100 Index ETF 36.8 50 29 3.2 -1.1
DFAU Dimensional US Core Equity Market ETF 36.8 12 67 4.9 +0.6
VTI Vanguard Total Stock Market Index Fund 36.8 3 76 4.6 +0.3
YLDE ClearBridge Dividend Strategy ESG ETF 36.7 60 19 4.5 +0.2
RFDA RiverFront Dynamic US Dividend Advantage ETF 36.7 52 27 5.0 +0.7
FQAL Fidelity Quality Factor ETF 36.5 29 50 5.1 +0.8
SCHG Schwab U.S. Large-Cap Growth ETF 36.5 4 75 3.3 -1.0
VUG Vanguard Growth Index Fund 36.4 4 75 3.7 -0.7
QUS SPDR MSCI USA StrategicFactors ETF 36.1 15 64 5.4 +1.1
DTD WisdomTree U.S.Total Dividend Fund 35.9 28 51 6.2 +1.9
RFFC RiverFront Dynamic US Flex-Cap ETF 35.9 52 27 4.6 +0.3
SPUS SP Funds S&P 500 Sharia Industry Exclusions ETF 35.6 49 30 3.9 -0.4
DGRO iShares Core Dividend Growth ETF 35.4 8 71 6.2 +1.9
DGRW WisdomTree U.S. Quality Dividend Growth Fund 34.5 28 51 6.1 +1.8
EQWL Invesco Russell Top 200 Equal Weight ETF 34.4 25 54 5.7 +1.4
SPMO Invesco S&P 500 Momentum ETF 34.4 13 66 3.9 -0.4
IOO iShares Global 100 ETF 34.3 40 39 4.4 +0.1
HIPR Direxion High Growth ETF 34.1 40 39 4.3 -0.0
QDEF FlexShares Quality Dividend Defensive Index Fund 34.0 37 42 5.7 +1.4
KRMA Global X Conscious Companies ETF 33.9 43 36 4.8 +0.5
DIVB iShares U.S. Dividend & Buyback ETF 33.7 25 54 6.1 +1.8
MTUM iShares MSCI USA Momentum Factor ETF 33.4 15 64 4.0 -0.3
QLC FlexShares US Quality Large Cap Index Fund 33.3 32 47 4.8 +0.5
QDYN FlexShares Quality Dividend Dynamic Index Fund 33.3 37 42 5.6 +1.3
JQUA JPMorgan U.S. Quality Factor ETF 33.2 12 67 5.1 +0.8
CCOR Core Alternative ETF 32.8 109 -30 4.4 +0.1
FDRR Fidelity Dividend ETF for Rising Rates 32.6 29 50 6.3 +2.0
FLRG Fidelity U.S. Multifactor ETF 32.5 29 50 6.1 +1.8
FNDX Schwab Fundamental U.S. Large Co. Index ETF 32.2 25 54 6.0 +1.7
IWX iShares Russell Top 200 Value ETF 32.1 20 59 6.2 +1.9
ESGG FlexShares STOXX Global ESG Impact Index Fund 32.1 42 37 4.8 +0.5

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%.

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RESULTS & ESTIMATES

  2015 2016 2017 2018 2019 2020E 2021E
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

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VALUATION METRICS
  2019 2020E 2021E
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 Income 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 22.2 %
Divided by: Fwd. P/BV 4.4 x
Less: Expense ratio 79 bp
Equals: ALTAR Score 4.3 %
info More information on ALTAR Score™
MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING		 1.40 CATEGORY
AVERAGE		 1.49
 
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.