Category Review
The payout and the result came apart in option-income funds
Aptus Collared Income Opportunity ETF
$47.67+0.04 (+0.09%)
- 0.79%
- $2.4B
- +11.1%
- 0.38%
- 0.1M sh
- $47.65
- low $41.13high $47.93
The ETF.net ACIO Grade
A
Score 74 out of 100
- 6 of 51
Score 74 of 100 falls in the A band. A is 70 or higher, B 55 to under 70, C 40 to under 55, D 25 to under 40, F under 25.
Cost
The fund’s net expense ratio, ranked against its category.B65 out of 100Rank 17 of 51Mission
Whether the fund did what it promised, tested against its stated mandate.Risk
How the fund held up when markets fell: downside volatility, drawdowns and tail loss.B66 out of 100Rank 14 of 46Tradability
How easy the fund is to trade: daily volume, and how far its price strays from net asset value.A93 out of 100Rank 1 of 51Holdings
How concentrated the fund is, and how complete and current its disclosed holdings are.A75 out of 100Rank 10 of 42Durability
Whether the fund is likely to stay open, judged by its age, its assets and its issuer’s assets.A93 out of 100Rank 2 of 51
Our read on ACIO
AMost option-income funds sell calls and hand you the premium. ACIO's collar spends part of it on downside puts, so one overlay funds both the income and the hedge. Roughly 70 US stocks, actively managed, paid quarterly.
Its stated mandate combines current income generation with capital appreciation.
Why people hold it
- The collar is the point: call premium helps pay for the puts instead of all flowing out as cash, so the income and the hedge come from the same overlay.
- 0.79% a year, below the median fee for actively overlaid option-income funds.
- A concentrated book of roughly 70 US stocks rather than an index copy, inside a multi-billion-dollar fund that has been running since 2019.
- Sits among the stronger implementations in its peer group of actively overlaid option-income ETFs.
Worth knowing
- The fee is the price of the active work. Peers charge less for their own takes on equity option income, including PAPI at 0.29% and TCAL at 0.34%.
- Actively managed, so results ride on the manager's stock and option choices rather than a published rule set you can read in advance.
- Income lands quarterly, so cash shows up four times a year.
ACIO Holdings
- Stocks
- 171
- 41%
- NVDA
Sectors
- Technology40.4%
- Financials11.4%
- Communication9.8%
- Health Care9.1%
- Consumer Discretionary8.8%
- Industrials7.6%
- Consumer Staples4.4%
- Energy3.4%
- Utilities2.0%
- Real Estate1.7%
- Materials1.6%
Geography
- United States97.53%
- Ireland1.26%
- United Kingdom0.87%
- Switzerland0.24%
- Netherlands0.09%
ACIO Performance
Shows how $10,000 changes over the selected period, with cash distributions reinvested at the closing price on each ex-dividend date.
Not enough history yet.
ACIO$11,109
Returns run to the Oct 12, 2026 close, with cash distributions reinvested. Each period starts on the same date that many months or years earlier. Periods over one year show the average yearly return.
| Period | ACIO |
|---|---|
| Year to date | +9.3% |
| 1 month | +1.7% |
| 3 months | +2.1% |
| 1 year | +11.1% |
| 3 years | +16.3% |
| 5 years | +10.3% |
| 10 years | — |
Calendar-year total return with cash distributions hypothetically reinvested at the ex-dividend date’s closing price. The current year shows year to date.
| Year | Return bar | ACIO |
|---|---|---|
| 2026 YTD | +9.3% | |
| 2025 | +9.0% | |
| 2024 | +21.9% | |
| 2023 | +15.9% | |
| 2022 | −10.5% | |
| 2021 | +18.0% | |
| 2020 | +9.9% |
ACIO in the news
ACIO Dividends
- 0.38%
- $0.18
- $0.03 per share
- Quarterly
Distribution history
ACIO Risk
- 9.5%
How it’s calculated: standard deviation
The sample standard deviation of monthly total returns, multiplied by the square root of 12.
Uses up to 36 complete months, with at least 12 required. Total returns include reinvested distributions.
- 1.16
How it’s calculated: Sharpe ratio
Subtract each month’s Treasury-bill return from the fund’s monthly total return.
Divide the average of those excess returns by their sample standard deviation, then multiply by the square root of 12.
Uses up to 36 complete months, with at least 12 required. Each month uses the Treasury yield quoted at the end of the previous month.
- −14.0%
How it’s calculated: maximum drawdown
The largest percentage decline from an earlier peak, using total returns with reinvested distributions.
Uses up to five years through the last close, with at least 12 months required.
- 0.74
How it’s calculated: beta
The beta figure is supplied by FMP. The comparison index depends on the fund’s broad asset class.
ACIO Cost
0.79%
ACIO0.79%
- The middle half of Active Option Income funds
- Median 0.95%
16 of the 51 Active Option Income funds charge less.
Other funds in Active Option Income
- ASEPIShelton Equity Premium Income ETFExpense ratio 0.54%1 year return +24.9%
- ATCALT. Rowe Price Capital Appreciation Premium Income ETFExpense ratio 0.34%1 year return +4.3%
- ASTOXHorizon Funds - Horizon Core Equity ETFExpense ratio 0.70%1 year return +20.7%
- AIINCAlki Consolidated Income ETFExpense ratio 0.75%1 year return —
- BSCEPSterling Capital Hedged Equity Premium Income ETFExpense ratio 0.65%1 year return —