Opus Small Cap Value ETF

Opus Small Cap Value ETF (OSCV) is an actively managed fund. Its adviser, Aptus Capital Advisors, picks small U.S. companies it judges to be high quality, growing and undervalued, and it held 64 of them as of July 31, 2026. It does not track an index. Its 0.79% expense ratio is the highest among the similar funds compared here, which average 0.31%. As of October 27, 2026, its one- and three-year returns trailed most of them.

• Over the year to Oct 27, 2026, OSCV returned +8.6%, 6th of 7 among similar funds.
• Its 5-year annualized return was +5.2%.
• Its worst full calendar year was 2022 (-11.4%); its best was 2021 (+27.7%).
• The deepest fall in its price history was 22.9% (Nov 25, 2024 to Apr 8, 2025), recovered by Feb 6, 2026.

As of Jul 31, 2026, the fund held 64 securities; the ten largest made up 25.96% of assets, and 4.1% sat in cash and money-market holdings.

• Over the three months to Jul 31, 2026, investors added a net $3.0M (creations minus redemptions, per the N-PORT report).
• Monthly total returns reported for that quarter: -1.87%, +4.37%, +0.87%.

OSCV does not track an index. Its adviser, Aptus Capital Advisors, picks the stocks. It must normally keep at least 80% of net assets in small U.S. companies with value traits. The prospectus defines "small" as the lowest 15% of total U.S. stock market value, leaving out companies worth under $10 million, and it recalculates this each year. As of June 30, 2026, that covered about 4,108 companies worth up to about $27.75 billion. The fund can also own REITs (companies that own real estate), recent IPOs and American Depositary Receipts. ADRs are U.S.-traded shares of foreign companies, and they are capped at 20% of assets.

To choose stocks, Aptus combines factor-based screening with company research. Factor-based screening means ranking companies on measurable traits such as profitability and price. It looks for three things. The first is quality: sound businesses with high returns on equity and strong balance sheets. The second is growth in sales, earnings, cash flow and dividends. The third is a lower price than peers. It generally sells a stock that fails these tests or has been too big to count as small for a long time, such as more than a year.

The prospectus sets no formal weighting or rebalancing schedule. As of July 31, 2026, the holdings were spread fairly evenly. The largest, Hanover Insurance Group, was 3.1%, and the top 10 together made up 26%. Cash was 4.1%, and the fund held no derivatives. Portfolio turnover was 15%, so the manager trades relatively little.

• OSCV charges 0.79% a year, versus an average of 0.31% for the similar funds below (7th of 7, cheapest first).
• Using the prospectus's standard example, $10,000 invested would cost about $81 in the first year and $978 over 10 years (assuming a 5% annual return).

It adds hand-picked small U.S. value stocks, an area large-cap index funds barely touch, but its high fee and small-cap swings point to a modest slice rather than a core position.

OSCV launched in 2018, so it has no record from 2008. Its worst quarter was the first quarter of 2020, when it lost 30.2%. In 2022 it fell 21.2% between January 4 and June 17. It did not get back to that peak until March 4, 2024, about 21 months later. Its worst calendar year was 2022, at -11.4%. Its deepest drop in price data starting June 2020 was 22.9%, from November 2024 to April 2025, and it took 10 months to recover. Anyone who had to sell during those stretches would have locked in losses.

Income is modest. The yield was 1.13% as of October 27, 2026, paid quarterly. Costs are high: in the SEC's standard example, the fee on $10,000 comes to about $81 in the first year. Past results don't predict future returns, and a plan should look at the whole portfolio, not one fund.

Matched by closest holdings overlap from the latest N-PORT reports (no similar fund shares 20% or more of its holdings).