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DEFR

GradeCChicago Board Options Exchange

ETF Series Solutions - Aptus Deferred Income ETF

Option Income · Aptus · Inception 2025-05-13 · SEC filings

$26.17−0.25 (−0.96%)

As of Sep 23, 2026, 1:28 PM EDT

History starts May 14, 2025.
Intraday session: down, 14 prints from 26.42 to 26.17. Range 26.17 to 26.42. Use the arrow keys to read each point.$26.30$26.4010 AM12 PM2 PM4 PM
Expense ratio
0.79%
Fund size
$149M
1Y return
−0.1%
Yield · Last 12 months
—
Volume · 30D
0M sh
NAV per share
$26.27
52W range
low $23.63high $27.34

The ETF.net DEFR Grade

C

42/ 100

Rank 9 of 14 in Treasury Option Income⁠

Confidence Low

Six-pillar profile for DEFR. Scores out of 100: Cost 35, Risk 32, Mission not scored, Tradability 61, Holdings 51, Durability 43. Strongest: Tradability (61). Weakest: Risk (32). Based on 5 of 6 pillars.
F< 25
D≥ 25
C≥ 40
B≥ 55
A≥ 70

Score 42 of 100 sits in the C band. Bands: A ≥ 70, B ≥ 55, C ≥ 40, D ≥ 25, F < 25; the scale skips E.

  • Cost

    What you pay to own it — the expense ratio plus trading frictions, ranked within its category.
    DScore 35
    Category rank9/14 · mid-pack

  • Mission

    How faithfully it does the job it claims — tracking its mandate or index with minimal slippage.
    Not scored
    —

  • Risk

    How violently it can move — volatility, drawdown depth, and downside capture versus its category.
    DScore 32
    Category rank10/14 · mid-pack

  • Tradability

    How cheaply and easily you can get in and out — liquidity, spread, and premium/discount stability.
    BScore 61
    Category rank6/14 · top 43%

  • Holdings

    What it actually owns — the quality, breadth, and concentration of the underlying portfolio.
    CScore 51
    Category rank8/13 · mid-pack

  • Durability

    Whether it will still be here — the fund’s assets, age, flows, and issuer staying power.
    CScore 43
    Category rank10/14 · mid-pack

Graded as of Sep 22, 2026 · Based on 5 of 6 pillars

DEFR Holdings

As of Sep 21, 2026, 4:13 AM
Asset class
Stocks
Holdings
—
Top-10 weight
104%
Largest holding
4QQQ 261120C0010000062.3%

Sectors

The fund’s holdings, weight-ordered — page 1 of 1.
#TickerCompanyWeight %SharesMarket valueIn ETFs
0014QQQ 261120C00100000QQQ 11/20/2026 100 C62.26%1,433$89M1
0024QQQ 261120P01100000QQQ 11/20/2026 1100 P37.22%1,433$53M1
003912797VQ7United States Treasury Bill 07/08/20274.29%6,350,000$6M58
0044IEF 261120C00093780IEF 11/20/2026 93.78 C0.17%12,400$242K1
0052TLH 261120C00097780TLH 11/20/2026 97.78 C<0.01%150$11K1

Showing 1–5 of 5 holdings

DEFR Performance

Shows how $10,000 changes over the selected period, with cash distributions reinvested at the closing price on each ex-dividend date.

DEFR$9,994
SPY tracks large US stocks. It provides market context, rather than representing this fund’s strategy, asset class or investment benchmark.$11,723
Sep 22, 2025 to Sep 22, 2026. DEFR $9,994. SPY $11,723. Use the arrow keys to read each point.$9,353$10,646$11,940Sep 2025Mar 2026Sep 2026

Sep 22, 2025 – Sep 22, 2026

Returns run to the Sep 22, 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 DEFR. Periods over one year show the average yearly return.
PeriodDEFR
Year to date−1.1%
1 month−0.8%
3 months−0.6%
1 year−0.1%
3 yearsFund is under 3 years old—per year
5 yearsFund is under 5 years old—per year
10 yearsFund is under 10 years old—per 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 DEFR
YearReturn barDEFR
2026 YTD−1.1%
2025+6.9%

History from May 14, 2025

DEFR in the news

ETF.net Research hasn’t filed on DEFR yet — coverage lands here as it’s written.

DEFR Dividends

This fund pays no distributions.
—Last 12 months
Payout per share
—Last 12 months

No distributions in the last 12 months.

DEFR Risk

How much the fund’s monthly returns vary, scaled to a year.
4.3%
Annualised · 15 months to Aug 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.
0.13
vs 3-month T-bills · 15 months to Aug 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.
−4.1%
16 months · trough Sep 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.
0.12
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.

DEFR Cost

Expense ratio0.79%
  • The middle half of Treasury Option Income funds
  • Median 0.65%

7 of the 13 Treasury Option Income funds charge less.

DEFR costs $79.00 a year on $10,000. The median Treasury Option Income fund costs $65.00.