Aptus Collared Income Opportunity ETF
ACIO
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ROIC.AI
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- Aptus Collared Income Opportunity ETF (ACIO) is an actively managed exchange-traded fund that seeks current income and capital appreciation by investing principally in a diversified portfolio of 70-80 large capitalization U.S.-listed equity securities across various sectors and implementing an options collar strategy consisting of selling covered call options on up to 100% of the equity holdings to generate premium income while simultaneously purchasing long put options on a U.S. large cap index, such as the S&P 500, to hedge downside risk; the equity portfolio typically includes common stocks, American Depositary Receipts (limited to approximately 20% of net assets), and real estate investment trusts, with no more than 30% of net assets in a single sector and a bias toward low portfolio turnover based on assessments of dividend stability, yield, earnings growth, revenue growth, and options liquidity. The Fund generates income from a combination of dividends on the underlying equities and premiums from sold call options, with options typically expiring in three to nine months and rolled periodically; it is non-diversified, listed on the Cboe BZX Exchange, and targets retail and institutional investors seeking enhanced income with moderated volatility in the U.S. equity market. Launched on July 9, 2019, and domiciled in the United States, ACIO is advised by Aptus Capital Advisors, LLC, headquartered in Fairhope, Alabama, with portfolio management led by John D. Gardner (since inception), John Tyner, and David Wagner; the Fund is distributed by Quasar Distributors, LLC, part of ETF Series Solutions, and maintains an expense ratio of 0.79% with net assets exceeding $2.2 billion as of December 2025. In recent developments, Aptus Capital Advisors expanded its options-based ETF lineup in October 2025 with new funds that complement ACIO and leverage the firm's growing expertise in this strategy, as its actively managed ETFs surpassed $5.5 billion in assets under management by September 30, 2025; the firm continues to emphasize active implementation of ACIO's collar strategy amid market volatility, including harvesting put profits for equity purchases in periods like early April 2024 and mid-2023, while key holdings such as NVIDIA Corporation and Microsoft Corporation drove strong fiscal performance through April 30, 2024.