ETF Series Solutions – Aptus July Deep Buffer ETF is a U.S.-domiciled, actively managed exchange-traded fund that seeks to provide investors with participation in the price performance of the SPDR S&P 500 ETF Trust, up to a predetermined annual upside cap, while mitigating a specified portion of underlying losses during each 12-month July outcome period. The fund principally employs FLEX Options linked to SPY, including long call options, short call options, long put options and short put options, to create a defined-outcome equity strategy. Its products and services consist of publicly traded ETF shares providing U.S. large-cap equity-market exposure; capped-upside return participation; a deep downside buffer intended to protect against SPY losses within the stated buffer range; annually resetting outcome periods; and an ETF structure intended for brokerage-account accessibility and potential tax efficiency. The fund is designed primarily for financial advisers, wealth managers, institutional allocators and individual investors seeking equity exposure with defined downside-risk mitigation rather than unrestricted market upside.
JUDB commenced operations on May 5, 2026, trades on Cboe under ticker JUDB, carries a 0.25% expense ratio, and is distributed by Quasar Distributors. It is a series of ETF Series Solutions and is advised by Aptus Capital Advisors LLC, an SEC-registered investment adviser headquartered in Fairhope, Alabama, founded in 2013. Aptus manages options-based ETFs and provides portfolio-design, due-diligence, documentation, client-acquisition and communication support to independent wealth managers. As of June 30, 2026, Aptus reported $14.2 billion of total assets under management, including $6.6 billion in ETF assets. The fund’s investment outcome is conditional on holding shares for the full outcome period; its downside buffer does not eliminate the risk of loss, and returns are limited by the applicable cap.
The principal recent development is the May 2026 launch of JUDB as part of Aptus Capital Advisors’ quarterly Deep Buffer ETF suite, alongside the Aptus January Deep Buffer ETF, Aptus April Deep Buffer ETF and Aptus October Deep Buffer ETF. The series expanded Aptus’ defined-outcome ETF platform with funds targeting a 30% downside buffer and a lower 0.25% expense ratio. In 2026, Aptus also expanded its buffered ETF offerings through laddered buffer and laddered deep-buffer strategies, providing exposure across multiple outcome periods. In September 2026, Aptus strengthened its adviser-solutions and technology operations through the appointments of Joshua Lucas as Head of Digital Strategy, Tom Winkler as Head of Wealth and Client Solutions, and John Davenport as Head of Client Specialists, reflecting the adviser’s continuing expansion of its options-based ETF and customized-overlay businesses.