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ACIO vs PAYR

Aptus Collared Income Opportunity ETF

ACIOACboe

Federated Hermes Enhanced Income ETF

PAYRACboe

Overlap

6.9%by weight

Expense ratio

PAYR −0.39pt a year

ACIO0.79%PAYR0.40%

Avg volume · 30D

ACIO 7.5×the volume

ACIO136KPAYR18.1K

ACIO vs PAYR Performance

Oct 31, 2025 – Oct 30, 2026

+5.6%ACIO+25.2%PAYR

Oct 31, 2025 to Oct 30, 2026. ACIO +5.6%. PAYR +25.2%. Use the arrow keys to read each point.−5%0%10%15%20%Oct 2025Apr 2026Oct 2026
Expense ratio
ACIO 0.79%
PAYR 0.40%, better
Fund size
ACIO $2.34B
PAYR $91M
1Y total return
ACIO +5.6%
PAYR +25.2%, better
Yield (12M)
ACIO 0.39%
PAYR No data
Holdings
ACIO 172
PAYR 58
Avg volume (30D)
ACIO 136K sh, better
PAYR 18.1K sh
NAV per share
ACIO $46.32
PAYR $56.43
52W range

ETF.net Grade

ACIO: Cost 65, Risk 69, Mission not scored, Tradability 91, Holdings 78, Durability 94. PAYR: Cost 92, Risk 75, Mission not scored, Tradability 56, Holdings 73, Durability 55.
Pillar letters and Scores for ACIO, PAYR, with each pillar’s weight
PillarACIOPAYR
Cost30% weightB65A92Higher
Mission25% weightNot scoredNot scored
Risk15% weightB69A75Higher
Tradability15% weightA91HigherB56
Holdings10% weightA78HigherA73
Durability5% weightA94HigherB55

Rank among Active Option Income funds

How we build Categories ›
Same Category. Both funds are graded against the same funds, so their Grades compare head to head.

Same Category. ACIO and PAYR are both graded against the same 50 Active Option Income funds, so their Grades compare head to head.

Active Option Income⁠

Category · 50 funds
See all 50 ›

PAYR ranks 4th and ACIO 6th of 50 funds in the Active Option Income Category.

  1. Rank 1ARECIColumbia Research Enhanced Core Premium Income ETScore 83
  2. Rank 2ATCALT. Rowe Price Capital Appreciation Premium Income ETFScore 80
  3. Rank 2AYLDEFranklin ClearBridge Enhanced Income ETFScore 80
  4. Rank 4APAYRFederated Hermes Enhanced Income ETFScore 76
  5. Rank 4ARDVIFT Vest Rising Dividend Achievers Target Income ETFScore 76
  6. Rank 6AACIOAptus Collared Income Opportunity ETFScore 74
  7. Rank 6AIINCAlki Consolidated Income ETFScore 74

Our read on each fund

ETF.net Research

ACIOAAptus Collared Income Opportunity ETF

PAYRAFederated Hermes Enhanced Income ETF

In short

ACIO Most 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.

PAYR No data

Stated mandate

ACIO Its stated mandate combines current income generation with capital appreciation.

PAYR No data

Why people hold it

  • ACIO 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.

PAYR No data

Worth knowing

  • ACIO 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.

PAYR No data

Full ACIO profile⁠

Full PAYR profile⁠

ACIO vs PAYR Holdings

How ACIO and PAYR differ

Overlap by weight

6.9%

Shared holdings make up 27.7% of PAYR and 6.9% of ACIO.

Level by level

  • Holdings14 in both6.9%
  • Sector11 Sectors49.6%
  • Countryby domicile77.6%
  • Asset classEquity100%

Sector

Sector weights in ACIO and PAYR, widest gap first
SectorMore in ACIOMore in PAYR
TechnologyACIO +32.9 points
UtilitiesPAYR +14.4 points
Consumer StaplesPAYR +11.2 points
EnergyPAYR +8.6 points
Real EstatePAYR +8.4 points
IndustrialsACIO +6.7 points
CommunicationACIO +5.8 points
FinancialsPAYR +5.1 points
Consumer DiscretionaryACIO +3.6 points
Health CarePAYR +2.6 points
MaterialsACIO +1.5 points

Country, concentration and asset class

Country by domicile

Country weights in ACIO and PAYR, widest gap first
CountryMore in ACIOMore in PAYR
United StatesACIO +22.0 points
United KingdomPAYR +8.1 points
FrancePAYR +6.6 points
CanadaPAYR +5.1 points
GermanyPAYR +2.6 points
Other countries (2)ACIO +0.4 points

Concentration

Weight in the 10 largest Holdings

  • ACIO39.3%
  • PAYR32.9%

Securities held

  • ACIO172
  • PAYR54

Asset class

ACIO
Equity
PAYR
Equity

Holdings

  • Only in ACIO158
  • In both14
  • Only in PAYR40

Only in ACIO

158 securities, 94.4% of ACIO by weight

  • Apple Inc7.65%
  • NVIDIA Corp7.54%
  • Microsoft Corp5.90%

Only in PAYR

40 securities, 72.4% of PAYR by weight

  • Us Bancorp4.01%
  • Paychex Inc3.80%
  • Totalenergies SE3.57%

Weight gaps

All 14 Holdings in both funds, largest gap first.

Holding weights in ACIO and PAYR, widest gap first
HoldingMore in ACIOMore in PAYR
Verizon Communications IncVZPAYR +2.88 points
Pfizer IncPFEPAYR +2.68 points
Prologis IncPLDPAYR +2.34 points
Kimberly-Clark CorpKMBPAYR +2.09 points
PepsiCo IncPEPPAYR +2.08 points
Mondelez International IncMDLZPAYR +1.96 points
Financial Services Group Inc/ThePNCPAYR +1.84 points
Chevron CorpCVXPAYR +1.75 points

All 120 ACIO holdings⁠All 52 PAYR holdings⁠

How we measure overlap

Each holding counts at its smaller weight in the two funds, summed over the full Holdings. Sector, country and asset class use the same rule on each fund’s split. Cash, FX and derivative lines stay out of the counts. Two bond funds get no overlap figure.

ACIO vs PAYR Cost

Overpaying ACIO vs PAYR

$7,084

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

  • ACIO 0.79%

    $15,174

  • PAYR 0.40%

    $8,090

$10,000
30 years

Cost over time

  • ACIO 0.79%
  • PAYR 0.40%
  • Overpaying
One line per fund, from year 0 to year 30. Use the arrow keys to read each point.$0$5K$10K$15K$20K051015202530ACIO $15,174PAYR $8,090

Year by year

YearACIOPAYROverpaying
10$1,405$723$682
20$5,331$2,793$2,538
30$15,174$8,090$7,084

Expense ratio

  • 0.79%ACIO
  • 0.40%PAYR, cheaper
  • Middle half of Active Option Income funds
  • Median 0.95%

PAYR 5th cheapest of 50 funds

ACIO 17th cheapest of 50 funds

ACIO vs PAYR Dividends

Last 12 months to Oct 30, 2026
Yield (12M)
ACIO 0.39%
PAYR No data
Payout (12M)
ACIO $0.18
PAYR No data
Last payment
ACIO $0.03
PAYR $0.29
Ex-dividend
ACIO Sep 29, 2026
PAYR Oct 30, 2026
Paid on
ACIO Sep 30, 2026
PAYR Pays Nov 2, 2026
Frequency
ACIO Quarterly
PAYR Monthly

Distribution history

Per share, 2023 to 2026, same scale for both

ACIOQuarterly · 15 paymentsAll ACIO payments⁠
One bar per payment. 15 payments from 2023 to 2026 YTD. Mar 29, 2023 $0.05; Jun 28, 2023 $0.06; Sep 27, 2023 $0.05; Dec 27, 2023 $0.07; Mar 26, 2024 $0.05; Jun 27, 2024 $0.05; Sep 27, 2024 $0.04; Dec 30, 2024 $0.03; Mar 28, 2025 $0.05; Jun 27, 2025 $0.05; Sep 29, 2025 $0.03; Dec 30, 2025 $0.03; Mar 30, 2026 $0.06; Jun 29, 2026 $0.05; Sep 29, 2026 $0.03. Use the arrow keys to read each point.$0$0.5020232026YTD
PAYRMonthly · 13 paymentsAll PAYR payments⁠
One bar per payment. 13 payments from 2023 to 2026 YTD. Oct 31, 2025 $0.16; Nov 28, 2025 $0.43; Dec 31, 2025 $0.41; Jan 30, 2026 $0.29; Feb 27, 2026 $0.33; Mar 31, 2026 $0.57; Apr 30, 2026 $0.18; May 29, 2026 $0.49; Jun 30, 2026 $0.46; Jul 31, 2026 $0.33; Aug 31, 2026 $0.32; Sep 30, 2026 $0.38; Oct 30, 2026 $0.29. Use the arrow keys to read each point.$0$0.5020232026YTD

ACIO vs PAYR Risk

Fall from peak · 5 years

This chart needs five years of history for both funds.

Risk facts

VolatilityStd dev, 3 years
ACIO 9.5%PAYR 14.6%since Nov 2025
Return per unit of riskSharpe ratio, 3 years
ACIO 1.15PAYR 1.36since Nov 2025
Worst fallMax drawdown, 5 years
ACIO −14.0%PAYR −7.0%since Oct 2025
Market sensitivityBeta, 5 years
ACIO 0.74PAYR 0.01

ACIO and PAYR in the news

All news⁠

Popular comparisons

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