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Launched · SEC filings

ARS Focused Opportunity Strategy ETF

AFOSNasdaqB

$45.44−0.16 (−0.34%)

At close: Oct 13, 2026, 4:00 PM

B58/ 100

Rank 49 of 127 in US Active Equity

B58/100Rank 49 of 127inUS Active Equity
Intraday session: down, 29 prints from 45.60 to 45.44. Range 45.03 to 45.44. Use the arrow keys to read each point.45.1045.2045.3010 AM12 PM2 PM4 PM
Expense ratio
0.46%
Fund size
$303M
1Y total return
+50.0%
Yield · Last 12 months
Data unavailable
Holdings
32
Avg volume · 30D
0M sh
NAV per share
$45.56
52W range
low $30.86high $48.00
Launched
Filings
SEC EDGAR

The ETF.net AFOS Grade

Based on 5 of 6 pillars

B

Score 58 out of 100

Category
US Active Equity⁠
Rank
49 of 127
Six-pillar profile for AFOS. Scores out of 100: Cost 73, Risk 47, Mission not scored, Tradability 47, Holdings 47, Durability 57. Strongest: Cost (73). Weakest: Holdings (47). Based on 5 of 6 pillars.

Score 58 of 100 falls in the B 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.
    A73 out of 100
    Rank 34 of 127

  • Mission

    Whether the fund did what it promised, tested against its stated mandate.
    Not scored

  • Risk

    How the fund held up when markets fell: downside volatility, drawdowns and tail loss.
    C47 out of 100
    Rank 77 of 126

  • Tradability

    How easy the fund is to trade: daily volume, and how far its price strays from net asset value.
    C47 out of 100
    Rank 63 of 127

  • Holdings

    How concentrated the fund is, and how complete and current its disclosed holdings are.
    C47 out of 100
    Rank 82 of 124

  • Durability

    Whether the fund is likely to stay open, judged by its age, its assets and its issuer’s assets.
    B57 out of 100
    Rank 63 of 127

Our read on AFOS

ETF.net Research

BA boutique manager's high-conviction list in ETF form: ARS runs a focused, go-anywhere US portfolio across small, mid and large caps, hunting companies it reads as well positioned and underpriced, for 0.45% a year.

Stated mandate

The fund seeks long-term capital growth through an actively managed portfolio that identifies well-positioned and undervalued companies across small-, mid-, and large-capitalization ranges.

Why people hold it

  1. 01Actively managed and actually focused: a concentrated set of US names picked across the whole cap range, not an index fund in stock-picker clothing.
  2. 02The 0.45% fee undercuts the typical actively managed US equity ETF, so the manager's picks clear a lower cost hurdle each year.
  3. 03Dates to 2014, giving it a live record through real markets rather than a launch-week backtest.
  4. 04Sits in the upper half of its active US equity peer group, with cost and staying power doing much of the lifting.

Worth knowing

  1. 01Thinly traded. Spreads can be wider than on giant index funds, and the fill you get depends on when you trade.
  2. 02A focused book cuts both ways: with fewer names, a single position moves the fund far more than it would in a 500-stock index.
  3. 03No declared index to measure against, and cash comes back once or twice a year rather than monthly.

AFOS Holdings

As of Oct 12, 2026
Asset class
Stocks
Holdings
32
Top-10 weight
46%
Largest holding
First American Government Obligations Fund 12/01/20316.6%

Geography

  • United States92.09%
  • Denmark3.20%
  • Ireland2.54%
  • Canada2.17%
The fund’s holdings, weight-ordered — page 1 of 3.
#TickerCompanyWeight %SharesMarket valueIn ETFs
001—First American Government Obligations Fund 12/01/20316.62%20,268,375$20M529
002—United States Treasury Bill 01/28/20275.23%16,200,000$16M2
003MPCMarathon Petroleum Corp4.56%30,696$14M396
004NVDANVIDIA Corp4.53%60,550$14M847
005LRCXLam Research Corp4.51%43,306$14M606
006GOOGLAlphabet Inc4.48%38,993$14M709
007MUMicron Technology Inc4.34%12,905$13M679
008NEMNewmont Corp4.25%110,285$13M434
009FCXFreeport-McMoRan Inc4.02%166,899$12M375
010MSFTMicrosoft Corp3.76%21,508$12M815
011GEVGE Vernova Inc3.59%10,935$11M484
012RALRalliant Corp3.35%140,214$10M127
013PWRQuanta Services Inc3.32%14,402$10M363
014WDCWestern Digital Corp3.31%25,515$10M479
015EOGEOG Resources Inc3.30%68,072$10M395

Showing 1–15 of 32 holdings

AFOS Performance

Launched Jun 25, 2025

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.Not enough history yet.Not enough history yet.
AFOS$15,000
SPY tracks large US stocks. It provides market context, rather than representing this fund’s strategy, asset class or investment benchmark.$12,044
Oct 10, 2025 to Oct 12, 2026. AFOS $15,000. SPY $12,044. Use the arrow keys to read each point.$9,299$12,680$16,061Oct 2025Apr 2026Oct 2026

Oct 10, 2025 – Oct 12, 2026

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.

Trailing total return for AFOS. Periods over one year show the average yearly return.
PeriodAFOS
Year to date+32.6%
1 month+0.1%
3 months+0.9%
1 year+50.0%
3 yearsFund is under 3 years oldper year—
5 yearsFund is under 5 years oldper year—
10 yearsFund is under 10 years oldper year—

As of the close, with distributions reinvested.

Calendar-year total return with cash distributions hypothetically reinvested at the ex-dividend date’s closing price. The current year shows year to date.

Annual total returns for AFOS
YearReturn barAFOS
2026 YTD+32.6%
2025+36.1%

History from Jun 26, 2025

AFOS in the news

Filtered to AFOS · US Active Equity

AFOS Dividends

Last payment
$0.10 per share
Paid on
Shares bought on or after this date do not qualify for this distribution.
Frequency
Irregular

Distribution data unavailable.

Distribution history

2025–2026

One bar per payment. 1 payment from 2025 to 2026 YTD. Dec 23, 2025 $0.10. Use the arrow keys to read each point.20252026YTD
Ex-datePay dateAmount per share
Dec 23, 2025Dec 24, 2025$0.10

AFOS Risk

How much the fund’s monthly returns vary, scaled to a year.
19.6%
Annualised · 15 months to Sep 2026
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.

Return above 3-month US Treasury bills per unit of volatility.
2.23
vs 3-month T-bills · 15 months to Sep 2026
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.

The largest fall from a peak to the low that followed.
−11.8%
15 months · trough Jul 2026
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.

How strongly the fund’s returns move with its asset-class index.
1.36
vs its asset-class index
How it’s calculated: beta

The beta figure is supplied by FMP. The comparison index depends on the fund’s broad asset class.

AFOS Cost

Expense ratio0.46%
  • The middle half of US Active Equity funds
  • Median 0.70%

34 of the 123 US Active Equity funds charge less.

AFOS costs $46.00 a year on $10,000. The median US Active Equity fund costs $70.00.

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