ACIO

Aptus Collared Investment Opportunity ETF

An actively-managed strategy seeking growth and income using covered calls on individual equities. The strategy invests in 50 large cap stocks and pursues additional income by selling coverall calls on those stocks. ACIO has an added goal of minimizing downside using long put options on a broad-based market Index.

Why ACIO?

Total return potential through growth, dividends, and stock income. Diversified basket of 50 large cap stocks
Risk mitigation through ownership of put options
Additional pursuit of income by selling covered-calls on the underlying basket of stocks

Current as of 09/29/2023

Fund Ticker	ACIO
Fund Name	Aptus Collared Investment Opportunity ETF
Primary Exchange	Cboe
CUSIP	26922A222
ISIN	US26922A2226
Net Assets	538,463,164.87
Expense Ratio	0.79%
30 Day Median Bid- Ask %	0.1
Inception Date	07/09/2019
Shares Outstanding	17,700,000.00
Distributor	Quasar Distributors
Advisor	Aptus Capital Advisors

Fund Documents

Statement of Additional Information (SAI)

ACIO Annual Report

ACIO Semi Annual Report

*2021-2022 Premium/Discount Line Graph

*2023 Premium/Discount Line Graph

Q1 Quarterly Holdings

Q3 Quarterly Holdings

*Premium Discount Disclaimer

The following Frequency Distribution of Premiums and Discounts chart is provided to show the frequency at which the closing price of the Fund was at a premium (above) or discount (below) to their daily net asset value (NAV). The chart represents past performance and cannot be used to predict future results. Shareholders may pay more than NAV when buying Fund shares and receive less than NAV when those shares are sold because shares are bought and sold at current market prices.

Fund Objectives

The Aptus Collared Investment Opportunity ETF seeks current income and capital appreciation.

Fund Prices

Current as of 09/29/2023

	NAV		MARKET PRICE
Net Asset Value	30.42	Closing Price	30.43
Daily Change $	-0.06	Daily Change $	-0.07
Daily Change %	-0.18	Daily Change %	-0.23
		Premium/Discount %	0.03

Fund holdings are subject to change and should not be considered a recommendation to buy or sell any security.

Fund Distributions

EX-DATE	RECORD DATE	PAYABLE DATE	INCOME	SHORT TERM CAPITAL GAIN
09/27/23	09/28/23	09/29/23	$0.0517
06/28/23	06/29/23	06/30/23	$0.0639
03/29/23	03/30/23	03/31/23	$0.0531
12/28/22	12/29/22	12/30/22	$0.0694
12/06/22	12/07/22	12/08/22		$0.1930
09/13/22	09/14/22	09/15/22	$0.0700
06/14/22	06/15/22	06/16/22	$0.0508
03/15/22	03/16/22	03/17/22	$0.0518
12/29/21	12/30/21	12/31/21	$0.0463
09/14/21	9/15/21	9/16/21	$0.0585
06/15/21	6/16/21	6/17/21	$0.0258
03/16/21	3/17/21	3/18/21	$0.0667
12/29/20	12/30/20	12/31/20	$0.0678
09/15/20	9/16/20	9/17/20	$0.0662
06/16/20	6/17/20	6/18/20	$0.0478
03/17/20	3/18/20	3/19/20	$0.1014
12/30/19	12/31/19	1/2/20	$0.1954
09/17/19	9/18/19	9/19/19	$0.1432

This fund is expected to pay at least one more distribution before year end. The figures represent estimates and are subject to change based on portfolio, market, and shareholder activity and tax adjustments. Actual distributions will be based on shares outstanding as of the record date. The net asset value of a fund with a distribution will drop on the ex-date by the amount of the distribution. Keep in mind that market conditions, portfolio changes and/or changes in outstanding fund shares could affect these estimates substantially. This information is NOT FINAL and is subject to change until the ex-dividend date. All data subject to change. Actual distributions will be posted on the aptusetfs.com site after each fund’s ex-dividend date. Aptus does not provide tax, accounting or legal advice. Any tax statements contained herein were not intended or written to be used, and cannot be used for the purpose of avoiding U.S., federal, state or local tax penalties. Clients should consult their advisor as to any tax, accounting or legal statements made herein. Specific questions regarding your clients’ personal income tax situation should be referred to a tax advisor.

Fund Performance

	Monthly as of 08/31/2023		Quarterly as 08/31/2023
	NAV %	Market %	NAV %	Market %
1 Month	-0.9	-1.07	-0.9	-1.07
3 Month	5.13	4.97	5.13	4.97
1 Year	7.37	7.06	7.37	7.06
3 Year	5.97	5.89	5.97	5.89
5 Year	-	-	-	-
YTD	9.74	9.71	9.74	9.71
Since Inception	32.55	32.46	32.55	32.46
Since Inception Annualized	7.03	7.02	7.03	7.02

Cumulative return is the aggregate amount that an investment has gained or lost over time. Annualized Return is the average return gained or lost by an investment each year over a given time period. Performance is annualized for periods greater than 1 year.

Performance quoted represents past performance, which is no guarantee of future results. Investment return and principal value will fluctuate, so you may have a gain or loss when shares are sold. Current performance may be higher or lower than that quoted. Short-term performance in particular is not a good indication of the fund’s future performance and an investment should not be made solely on returns.

Market Price: The current price at which shares are bought and sold. Market returns are based upon the last trade price.

NAV: The dollar value of a single share, based on the value of the underlying assets of the fund minus its liabilities, divided by the number of shares outstanding. Calculated at the end of each business day.

ACIO Fund Holdings

Current as of 09/29/2023

Stock Ticker	Cusip	Security Desc	Shares	Price	Market Value	Weightings	Effective Date
AAPL	037833100	APPLE INC	219,189.00	171.21	37,527,348.69	6.97%	10/02/2023
AAPL 231020C00185000	AAPL 231020C00185000	AAPL US 10/20/23 C185	-1,500.00	0.25	-36,750.00	-0.01%	10/02/2023
ABBV	00287Y109	ABBVIE INC	27,514.00	149.06	4,101,236.84	0.76%	10/02/2023
ABBV 231020C00160000	ABBV 231020C00160000	ABBV US 10/20/23 C160	-250.00	0.13	-3,125.00	0.00%	10/02/2023
ABT	002824100	ABBOTT LABS	49,052.00	96.85	4,750,686.20	0.88%	10/02/2023
ACN	G1151C101	ACCENTURE PLC IRELAND	22,788.00	307.11	6,998,422.68	1.30%	10/02/2023
ACN 231020C00330000	ACN 231020C00330000	ACCENTUR CLL OPT 10/23 330	-200.00	0.43	-8,500.00	0.00%	10/02/2023
ADBE	00724F101	ADOBE INC	8,081.00	509.90	4,120,501.90	0.77%	10/02/2023
ADBE 231020C00570000	ADBE 231020C00570000	ADBE US 10/20/23 C570	-80.00	0.87	-6,960.00	0.00%	10/02/2023
ADI	032654105	ANALOG DEVICES INC	55,329.00	175.09	9,687,554.61	1.80%	10/02/2023
ADI 231020C00190000	ADI 231020C00190000	ADI US 10/20/23 C190	-400.00	0.45	-18,000.00	0.00%	10/02/2023
AMAT	038222105	APPLIED MATLS INC	52,105.00	138.45	7,213,937.25	1.34%	10/02/2023
AMAT 231020C00157500	AMAT 231020C00157500	AMAT US 10/20/23 C157.5	-400.00	0.29	-11,600.00	0.00%	10/02/2023
AMGN	031162100	AMGEN INC	12,257.00	268.76	3,294,191.32	0.61%	10/02/2023
AMT	03027X100	AMERICAN TOWER CORP	24,100.00	164.45	3,963,245.00	0.74%	10/02/2023
AMZN	023135106	AMAZON COM INC	134,893.00	127.12	17,147,598.16	3.18%	10/02/2023
AMZN 231020C00141000	AMZN 231020C00141000	AMZN US 10/20/23 C141	-1,000.00	0.33	-33,000.00	-0.01%	10/02/2023
AVGO	11135F101	BROADCOM INC	7,654.00	830.58	6,357,259.32	1.18%	10/02/2023
AVGO 231020C00925000	AVGO 231020C00925000	AVGO US 10/20/23 C925	-70.00	1.40	-9,800.00	0.00%	10/02/2023
BA	097023105	BOEING CO	12,594.00	191.68	2,414,017.92	0.45%	10/02/2023
BAC	060505104	BANK AMERICA CORP	159,392.00	27.38	4,364,152.96	0.81%	10/02/2023
BAC 231020C00031000	BAC 231020C00031000	BAC US 10/20/23 C31	-1,000.00	0.06	-5,500.00	0.00%	10/02/2023
BLK	09247X101	BLACKROCK INC	8,646.00	646.49	5,589,552.54	1.04%	10/02/2023
BLK 231020C00710000	BLK 231020C00710000	BLK US 10/20/23 C710	-80.00	1.15	-9,200.00	0.00%	10/02/2023
BMY	110122108	BRISTOL-MYERS SQUIBB CO	32,997.00	58.04	1,915,145.88	0.36%	10/02/2023
BRK/B	084670702	BERKSHIRE HATHAWAY INC DEL	26,860.00	350.30	9,409,058.00	1.75%	10/02/2023
BRKB 231020C00372500	BRKB 231020C00372500	BRKB US 10/20/23 C372.5	-250.00	0.24	-6,000.00	0.00%	10/02/2023
C	172967424	CITIGROUP INC	63,994.00	41.13	2,632,073.22	0.49%	10/02/2023
CAT	149123101	CATERPILLAR INC	32,315.00	273.00	8,821,995.00	1.64%	10/02/2023
CAT 231020C00300000	CAT 231020C00300000	CAT US 10/20/23 C300	-300.00	0.57	-17,100.00	0.00%	10/02/2023
CHE	16359R103	CHEMED CORP NEW	8,138.00	519.70	4,229,318.60	0.79%	10/02/2023
CMCSA	20030N101	COMCAST CORP NEW	64,711.00	44.34	2,869,285.74	0.53%	10/02/2023
COST	22160K105	COSTCO WHSL CORP NEW	7,788.00	564.96	4,399,908.48	0.82%	10/02/2023
COST 231020C00600000	COST 231020C00600000	COST US 10/20/23 C600	-75.00	0.83	-6,225.00	0.00%	10/02/2023
CSCO	17275R102	CISCO SYS INC	65,549.00	53.76	3,523,914.24	0.65%	10/02/2023
CSX	126408103	CSX CORP	208,067.00	30.75	6,398,060.25	1.19%	10/02/2023
DE	244199105	DEERE & CO	10,485.00	377.38	3,956,829.30	0.73%	10/02/2023
DE 231020C00415000	DE 231020C00415000	DE US 10/20/23 C415	-100.00	0.60	-6,000.00	0.00%	10/02/2023
DIS	254687106	DISNEY WALT CO	29,794.00	81.05	2,414,803.70	0.45%	10/02/2023
ELV	036752103	ELEVANCE HEALTH INC	11,941.00	435.42	5,199,350.22	0.97%	10/02/2023
ELV 231020C00500000	ELV 231020C00500000	ELV US 10/20/23 C500	-100.00	0.55	-5,500.00	0.00%	10/02/2023
FANG	25278X109	DIAMONDBACK ENERGY INC	33,118.00	154.88	5,129,315.84	0.95%	10/02/2023
FANG 231020C00170000	FANG 231020C00170000	DIAMONDB CLL OPT 10/23 170	-300.00	0.20	-6,000.00	0.00%	10/02/2023
FCX	35671D857	FREEPORT-MCMORAN INC	58,679.00	37.29	2,188,139.91	0.41%	10/02/2023
FDX	31428X106	FEDEX CORP	21,361.00	264.92	5,658,956.12	1.05%	10/02/2023
FDX 231020C00280000	FDX 231020C00280000	FEDEX CO CLL OPT 10/23 280	-200.00	0.90	-17,900.00	0.00%	10/02/2023
FI	337738108	FISERV INC	43,127.00	112.96	4,871,625.92	0.90%	10/02/2023
GILD	375558103	GILEAD SCIENCES INC	41,443.00	74.94	3,105,738.42	0.58%	10/02/2023
GOOG	02079K107	ALPHABET INC	162,529.00	131.85	21,429,448.65	3.98%	10/02/2023
GOOG 231020C00145000	GOOG 231020C00145000	GOOG US 10/20/23 C145	-1,500.00	0.19	-28,500.00	-0.01%	10/02/2023
HON	438516106	HONEYWELL INTL INC	29,285.00	184.74	5,410,110.90	1.00%	10/02/2023
ICE	45866F104	INTERCONTINENTAL EXCHANGE INC COM	32,480.00	110.02	3,573,449.60	0.66%	10/02/2023
INTU	461202103	INTUIT	15,942.00	510.94	8,145,405.48	1.51%	10/02/2023
INTU 231020C00560000	INTU 231020C00560000	INTU US 10/20/23 C560	-100.00	0.95	-9,500.00	0.00%	10/02/2023
JNJ	478160104	JOHNSON & JOHNSON	39,558.00	155.75	6,161,158.50	1.14%	10/02/2023
JNJ 231020C00165000	JNJ 231020C00165000	JNJ US 10/20/23 C165	-300.00	0.33	-9,900.00	0.00%	10/02/2023
JPM	46625H100	JPMORGAN CHASE & CO.	61,822.00	145.02	8,965,426.44	1.67%	10/02/2023
JPM 231020C00160000	JPM 231020C00160000	JPM US 10/20/23 C160	-600.00	0.13	-7,500.00	0.00%	10/02/2023
LIN	G54950103	LINDE PLC	25,542.00	372.35	9,510,563.70	1.77%	10/02/2023
LIN 231020C00395000	LIN 231020C00395000	LIN US 10/20/23 C395	-200.00	0.55	-11,000.00	0.00%	10/02/2023
LLY	532457108	ELI LILLY & CO	11,734.00	537.13	6,302,683.42	1.17%	10/02/2023
LLY 231020C00590000	LLY 231020C00590000	LLY US 10/20/23 C590	-100.00	0.88	-8,750.00	0.00%	10/02/2023
LOW	548661107	LOWES COS INC	32,320.00	207.84	6,717,388.80	1.25%	10/02/2023
LOW 231020C00225000	LOW 231020C00225000	LOW US 10/20/23 C225	-300.00	0.33	-9,900.00	0.00%	10/02/2023
MAR	571903202	MARRIOTT INTL INC NEW	24,404.00	196.56	4,796,850.24	0.89%	10/02/2023
MAR 231020C00225000	MAR 231020C00225000	MARRIOTT CLL OPT 10/23 225	-240.00	0.20	-4,800.00	0.00%	10/02/2023
MCD	580135101	MCDONALDS CORP	24,285.00	263.44	6,397,640.40	1.19%	10/02/2023
MCD 231020C00280000	MCD 231020C00280000	MCD US 10/20/23 C280	-200.00	0.22	-4,400.00	0.00%	10/02/2023
MDLZ	609207105	MONDELEZ INTL INC	81,477.00	69.40	5,654,503.80	1.05%	10/02/2023
META	30303M102	META PLATFORMS INC	32,477.00	300.21	9,749,920.17	1.81%	10/02/2023
META 231020C00350000	META 231020C00350000	META US 10/20/23 C350	-300.00	0.33	-9,900.00	0.00%	10/02/2023
MMC	571748102	MARSH & MCLENNAN COS INC	28,931.00	190.30	5,505,569.30	1.02%	10/02/2023
MMC 231020C00200000	MMC 231020C00200000	MMC US 10/20/23 C200	-200.00	0.40	-8,000.00	0.00%	10/02/2023
MO	02209S103	ALTRIA GROUP INC	78,383.00	42.05	3,296,005.15	0.61%	10/02/2023
MRK	58933Y105	MERCK & CO INC	38,719.00	102.95	3,986,121.05	0.74%	10/02/2023
MRK 231020C00110000	MRK 231020C00110000	MERCK & CLL OPT 10/23 110	-300.00	0.17	-5,100.00	0.00%	10/02/2023
MS	617446448	MORGAN STANLEY	62,169.00	81.67	5,077,342.23	0.94%	10/02/2023
MSFT	594918104	MICROSOFT CORP	109,824.00	315.75	34,676,928.00	6.44%	10/02/2023
NEE	65339F101	NEXTERA ENERGY INC	114,707.00	57.29	6,571,564.03	1.22%	10/02/2023
NFLX	64110L106	NETFLIX INC	7,170.00	377.60	2,707,392.00	0.50%	10/02/2023
NKE	654106103	NIKE INC	19,494.00	95.62	1,864,016.28	0.35%	10/02/2023
NOC	666807102	NORTHROP GRUMMAN CORP	20,753.00	440.19	9,135,263.07	1.70%	10/02/2023
NOC 231020C00480000	NOC 231020C00480000	NOC US 10/20/23 C480	-200.00	0.40	-8,000.00	0.00%	10/02/2023
NOW	81762P102	SERVICENOW INC	14,631.00	558.96	8,178,143.76	1.52%	10/02/2023
NOW 231020C00625000	NOW 231020C00625000	NOW US 10/20/23 C625	-100.00	0.90	-9,000.00	0.00%	10/02/2023
NVDA	67066G104	NVIDIA CORPORATION	36,558.00	434.99	15,902,364.42	2.95%	10/02/2023
NVDA 231020C00515000	NVDA 231020C00515000	NVDA US 10/20/23 C515	-300.00	0.59	-17,700.00	0.00%	10/02/2023
PEP	713448108	PEPSICO INC	49,629.00	169.44	8,409,137.76	1.56%	10/02/2023
PEP 231020C00180000	PEP 231020C00180000	PEP US 10/20/23 C180	-400.00	0.26	-10,200.00	0.00%	10/02/2023
PFE	717081103	PFIZER INC	99,959.00	33.17	3,315,640.03	0.62%	10/02/2023
PG	742718109	PROCTER AND GAMBLE CO	51,707.00	145.86	7,541,983.02	1.40%	10/02/2023
PG 231020C00155000	PG 231020C00155000	PG US 10/20/23 C155	-500.00	0.30	-15,000.00	0.00%	10/02/2023
PGR	743315103	PROGRESSIVE CORP	48,743.00	139.30	6,789,899.90	1.26%	10/02/2023
PGR 231020C00155000	PGR 231020C00155000	PGR US 10/20/23 C155	-300.00	0.25	-7,500.00	0.00%	10/02/2023
PHM	745867101	PULTE GROUP INC	44,853.00	74.05	3,321,364.65	0.62%	10/02/2023
PHM 231020C00083000	PHM 231020C00083000	PHM US 10/20/23 C83	-400.00	0.15	-6,000.00	0.00%	10/02/2023
PLD	74340W103	PROLOGIS INC.	42,364.00	112.21	4,753,664.44	0.88%	10/02/2023
PSA	74460D109	PUBLIC STORAGE	10,520.00	263.52	2,772,230.40	0.51%	10/02/2023
PXD	723787107	PIONEER NAT RES CO	24,402.00	229.55	5,601,479.10	1.04%	10/02/2023
PYPL	70450Y103	PAYPAL HLDGS INC	37,165.00	58.46	2,172,665.90	0.40%	10/02/2023
SHW	824348106	SHERWIN WILLIAMS CO	8,333.00	255.05	2,125,331.65	0.39%	10/02/2023
SLB	806857108	SCHLUMBERGER LTD	39,878.00	58.30	2,324,887.40	0.43%	10/02/2023
SO	842587107	SOUTHERN CO	81,722.00	64.72	5,289,047.84	0.98%	10/02/2023
SPX 231020P03900000	SPX 231020P03900000	CBOE S&P PUT OPT 10/23 3900	-900.00	4.00	-360,000.00	-0.07%	10/02/2023
SPX 231020P04200000	SPX 231020P04200000	CBOE S&P PUT OPT 10/23 4200	900.00	33.35	3,001,500.00	0.56%	10/02/2023
SYK	863667101	STRYKER CORPORATION	33,415.00	273.27	9,131,317.05	1.70%	10/02/2023
TJX	872540109	TJX COS INC NEW	52,108.00	88.88	4,631,359.04	0.86%	10/02/2023
TJX 231020C00095000	TJX 231020C00095000	TJX US 10/20/23 C95	-500.00	0.08	-4,000.00	0.00%	10/02/2023
TMO	883556102	THERMO FISHER SCIENTIFIC INC COM	14,647.00	506.17	7,413,871.99	1.38%	10/02/2023
TMUS	872590104	T-MOBILE US INC	37,450.00	140.05	5,244,872.50	0.97%	10/02/2023
TMUS 231020C00152500	TMUS 231020C00152500	TMUS US 10/20/23 C152.5	-300.00	0.16	-4,800.00	0.00%	10/02/2023
TSLA	88160R101	TESLA INC	41,401.00	250.22	10,359,358.22	1.92%	10/02/2023
TSLA 231020C00300000	TSLA 231020C00300000	TSLA US 10/20/23 C300	-400.00	1.35	-54,000.00	-0.01%	10/02/2023
TXN	882508104	TEXAS INSTRS INC	13,234.00	159.01	2,104,338.34	0.39%	10/02/2023
UNH	91324P102	UNITEDHEALTH GROUP INC	17,116.00	504.19	8,629,716.04	1.60%	10/02/2023
V	92826C839	VISA INC	35,462.00	230.01	8,156,614.62	1.51%	10/02/2023
V 231020C00247500	V 231020C00247500	V US 10/20/23 C247.5	-300.00	0.21	-6,300.00	0.00%	10/02/2023
WM	94106L109	WASTE MGMT INC DEL	24,512.00	152.44	3,736,609.28	0.69%	10/02/2023
WMT	931142103	WALMART INC	35,921.00	159.93	5,744,845.53	1.07%	10/02/2023
XOM	30231G102	EXXON MOBIL CORP	110,233.00	117.58	12,961,196.14	2.41%	10/02/2023
XOM 231020C00130000	XOM 231020C00130000	EXXON MO CLL OPT 10/23 130	-1,000.00	0.10	-10,000.00	0.00%	10/02/2023
Cash&Other	Cash&Other	Cash & Other	9,826,357.74	1.00	9,826,357.74	1.82%	10/02/2023

Holdings are subject to change without notice.