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Launched · SEC filings

ARS Focused Opportunity Strategy ETF

AFOSNasdaqARSB

$42.43−0.51 (−1.20%)

At close: Nov 2, 2026, 4:00 PM ET

B57/ 100

Rank 52 of 126 in US Active Equity

B57/100Rank 52 of 126inUS Active Equity
Intraday session: down, 79 prints from 42.94 to 42.43. Range 42.43 to 43.61. Use the arrow keys to read each point.42.7543.2543.5010 AM12 PM2 PM4 PM
Expense ratio
0.46%
Fund size
$290M
1Y total return
+31.2%
Yield · Last 12 months
No data
Holdings
33
Avg volume · 30D
15.2K sh
52W range
low $30.86high $48.00
Launched
Filings
SEC EDGAR

The ETF.net AFOS Grade

Based on 5 of 6 pillars

B

Score 57 out of 100

Category
US Active Equity⁠
Rank
52 of 126
Six-pillar profile for AFOS. Scores out of 100: Cost 71, Risk 44, Mission not scored, Tradability 49, Holdings 51, Durability 58. Strongest: Cost (71). Weakest: Risk (44). Based on 5 of 6 pillars.

Score 57 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.
    A71 out of 100
    Rank 35 of 126

  • 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.
    C44 out of 100
    Rank 79 of 126

  • Tradability

    How easy the fund is to trade: daily volume, and how far its price strays from net asset value.
    C49 out of 100
    Rank 59 of 126

  • Holdings

    How concentrated the fund is, and how complete and current its disclosed holdings are.
    C51 out of 100
    Rank 74 of 124

  • Durability

    Whether the fund is likely to stay open, judged by its age, its assets and its issuer’s assets.
    B58 out of 100
    Rank 61 of 126

Our read on AFOS

ETF.net Research

In short

BActive stock picking with no benchmark leash: ARS runs a focused, all-cap book of US companies it judges well-positioned and undervalued, and charges 0.46%, below the typical active US equity fund.

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

  • Fee is 0.46%, with no waiver propping it up, and sits below the median for active US equity funds.
  • Openly benchmark-free. The prospectus states the fund is not managed against any index or benchmark, so the portfolio can look nothing like the large-cap market.sec.gov
  • Hunting ground is the whole US market cap ladder, small through large, not just mega-caps.
  • Launched in 2025 and already holds assets in the hundreds of millions, landing in the upper half of a field of more than 100 active US equity funds.

Worth knowing

  • Thinly traded. Spreads can be wider and order size matters more than in heavily traded index funds.
  • History starts June 2025, so there is only about a year of risk data behind it.
  • Systematic rivals cost far less: DFAU at 0.12%, AVLC at 0.15%. You pay up here for a human making concentrated calls.

AFOS Holdings

Holdings pillarC51 out of 100Rank 74 of 124 in US Active Equity
Asset class
Stocks
Holdings
33
Top-10 weight
42%
Largest holding
United States Treasury Bill 01/28/20276.0%

Geography

  • United States97.85%
  • Canada2.15%
The fund’s holdings, weight-ordered — page 1 of 3.
#TickerCompanyWeight %SharesMarket valueHeld by ETFs
1No dataUnited States Treasury Bill 01/28/20275.96%17,470,000$17.3M2
2MPCMarathon Petroleum Corp4.77%31,156$13.9M410
3NVDANVIDIA Corp4.33%61,454$12.6M848
4NEMNewmont Corp4.11%111,939$11.9M442
5MUMicron Technology Inc3.99%13,095$11.6M686
6EOGEOG Resources Inc3.94%69,092$11.4M398
7MSFTMicrosoft Corp3.92%21,828$11.4M819
8GOOGLAlphabet Inc3.82%39,577$11.1M707
9LLYEli Lilly & Co3.68%7,530$10.7M593
10FCXFreeport-McMoRan Inc3.64%169,403$10.6M380
11LRCXLam Research Corp3.62%43,956$10.5M603
12REGNRegeneron Pharmaceuticals Inc3.52%11,029$10.2M422
13ASNDAscendis Pharma A/S3.50%40,488$10.2M87
14RALRalliant Corp3.30%142,318$9.57M136
15GEVGE Vernova Inc3.28%11,095$9.52M485

Showing 1–15 of 33 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$13,122
SPY tracks large US stocks. It provides market context, rather than representing this fund’s strategy, asset class or investment benchmark.$11,199
Oct 31, 2025 to Oct 30, 2026. AFOS $13,122. SPY $11,199. Use the arrow keys to read each point.$10,000$12,000$14,000Oct 2025Apr 2026Oct 2026

Oct 31, 2025 – Oct 30, 2026

Returns run to the Oct 30, 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+24.9%
1 month−4.3%
3 months−2.3%
1 year+31.2%
3 yearsFund is under 3 years oldper yearNo data
5 yearsFund is under 5 years oldper yearNo data
10 yearsFund is under 10 years oldper yearNo data

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+24.9%
2025+36.1%

History from Jun 26, 2025

AFOS in the news

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

$10,000 in AFOS 1 year ago paid $31.08 in dividends.

AFOS Risk

Risk pillarC44 out of 100Rank 79 of 126 in US Active Equity
How much the fund’s monthly returns vary, scaled to a year.
20.3%
Annualised · 16 months to Oct 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.
1.86
vs 3-month T-bills · 16 months to Oct 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%
16 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.

FMP measures it over up to five years of monthly returns.

AFOS Cost

Compare AFOS and TACU

Overpaying vs TACU, cheapest in US Active Equity

$9,230

On $10,000 over 30 years. 7% growth a year before fees, expense ratio only.

  • AFOS 0.46%

    $9,230

  • TACU 0.00% Cheapest

    $0

$10,000
30 years

Cost over time

  • AFOS 0.46%
  • TACU 0.00%
  • Overpaying
One line per fund, from year 0 to year 30. Use the arrow keys to read each point.$0$2K$4K$6K$8K$10K051015202530AFOS $9,230TACU $0

Year by year

YearAFOSTACUOverpaying
10$830$0$830
20$3,195$0$3,195
30$9,230$0$9,230

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