ACIO vs ERNZ
Aptus Collared Investment Opportunity ETF vs TrueShares Active Yield ETF
Which is better, ACIO or ERNZ?
ACIO has been ahead.
ACIO has a lower expense ratio. ACIO led over 1Y and the full window. ERNZ is less concentrated, with 22.5% of the fund in its ten largest positions against 40.8%.
MarketXLS is not an investment adviser. This comparison is generated automatically from market data and is for information only. A Best mark means the better reading on that one measure, not a recommendation to buy.
Side-by-Side Comparison
| Metric | ACIO | ERNZ |
|---|---|---|
| Expense Ratio | 0.79%Best | 3.25% |
| AUM | $2.4B | $6M |
| Dividend Yield | 0.39% | 8.71% |
| Holdings | 524 | 144 |
| Volatility (annualized) | 7.8%Best | 9.6% |
| Max Drawdown | -12.1%Best | -14.2% |
| $10,000 over 1.9 years | $12,208Best | $9,968 |
| Top 10 Weight | 40.8% | 22.5%Best |
| Fund Family | Aptus ETFs | TrueShares |
| Category | Equity | Equity |
| Style | Large Cap Blend | Large Cap Blend |
| Inception | Jul 9, 2019 | Apr 30, 2024 |
Not shown on this pair: YTD Return, 1Y Return, 3Y Return (annualized), 5Y Return (annualized).
The two price series end 205 days apart, so a return over any period would be measuring two different stretches of market. Those rows are withheld. ACIO has data through Oct 15, 2026 and ERNZ through Mar 24, 2026.
Volatility and max drawdown, and the $10,000 over 1.9 years row, are measured over the window both funds cover: May 1, 2024 to Mar 24, 2026 (1.9 years).
Risk: Volatility and Drawdowns
ERNZ has been the more volatile fund, with annualized monthly volatility of 9.6% compared with 7.8% for ACIO. Lower volatility generally means a smoother ride, though it often comes with lower long-run returns.
The deepest peak-to-trough decline in our data was -12.1% for ACIO and -14.2% for ERNZ. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at 0.45. They move together some of the time, and apart the rest.
Fees and Cost Over Time
ACIO charges 0.79% per year while ERNZ charges 3.25%. On a $10,000 position that is $79 vs $325 annually, a gap of $246 per year that compounds over a long holding period. On income, ACIO currently yields 0.39% against 8.71% for ERNZ.
Holdings Overlap
5.3% of ACIO's money is in holdings ERNZ also owns. 6.1% of ERNZ's money is in holdings ACIO also owns.
ERNZ and ACIO share little of their money.
The two holdings books were reported 244 days apart, ACIO as of Oct 1, 2026 and ERNZ as of Jan 30, 2026, so some of the difference between them is the time between the two reports rather than the funds.
10 positions in common, counted across the 167 positions we hold weights for in ACIO and 141 in ERNZ, against full books of 524 and 144.
What only one of them owns
Our book lists 122 positions for ERNZ that do not appear in our book for ACIO (86.4% of the fund), and 156 for ACIO that do not appear in ERNZ (94.3%).
Some of those will be the same company recorded under a different code in one of the two books, so the real difference in what you would own is no larger than this and may be smaller. We do not name the individual positions here for that reason.
Top Shared Holdings
| Stock | Weight in ACIO | Weight in ERNZ | Difference |
|---|---|---|---|
| PGRProgressive Corporation | 0.66% | 1.20% | 0.54% |
| ABBVAbbvie Inc. | 0.85% | 0.96% | 0.11% |
| GILDGilead Sciences | 0.31% | 1.13% | 0.82% |
| MOAltria Group Inc | 0.63% | 0.66% | 0.03% |
| AMGNAmgen Inc. | 0.43% | 0.59% | 0.16% |
| SOSouthern Co. | 0.78% | 0.15% | 0.63% |
| MRKMerck & Company Inc | 0.54% | 0.36% | 0.18% |
| NEMNewmont Corp Common | 0.33% | 0.53% | 0.20% |
| ETNEaton Corp Plc | 0.55% | 0.15% | 0.40% |
| BMYBristol-Myers Squibb Co. | 0.19% | 0.33% | 0.14% |
You are not choosing between two funds in isolation.
Whichever of ACIO and ERNZ you pick has to sit alongside everything else you own. Add the rest and see what the combination actually holds.
Free for up to 10 holdings. No account needed.
Frequently Asked Questions
Which is cheaper, ACIO or ERNZ?
ACIO has an expense ratio of 0.79% while ERNZ charges 3.25%. ACIO is the cheaper option, by $246 a year on a $10,000 investment.
Which is riskier, ACIO or ERNZ?
ERNZ has been the more volatile fund at 9.6% annualized versus 7.8% for ACIO. Worst drawdown: ACIO -12.1% vs ERNZ -14.2%.
Should I hold both ACIO and ERNZ?
ACIO and ERNZ have a monthly-return correlation of 0.45, so their returns are far enough apart for the mix to behave differently from either one alone. This is information, not a recommendation.
What is the holdings overlap between ACIO and ERNZ?
6.1% of ERNZ's money is in holdings ACIO also owns. 6.1% of ERNZ's is in holdings ACIO also owns. They hold 10 positions in common, counted across the 167 positions we hold weights for in ACIO and 141 in ERNZ.
Which pays a higher dividend, ACIO or ERNZ?
ACIO yields 0.39% while ERNZ yields 8.71%, so ERNZ currently pays the higher dividend yield.
Is ERNZ better than ACIO?
ACIO has a lower expense ratio. ACIO led over 1Y and the full window. ERNZ is less concentrated, with 22.5% of the fund in its ten largest positions against 40.8%. Which one suits a particular account depends on what it is for. This is information, not a recommendation.