At a glance
OUSA charges 0.48% a year, above the 0.29% average of the 8 funds most like it (the 6th cheapest of 9). It has $746.2M in assets, the 7th largest of that group; it paid 1.39% of its price in distributions over the past 12 months, monthly. Over the past year it returned +11.4% with distributions reinvested (S&P 500: +11.5%), 8th of those 9 funds; over three years it returned +17.3% a year. At its worst it fell 19.0% in the 2022 bear market (S&P 500: 24.5%), and was back at its earlier high 10 months after the low. Its ten largest positions make up 44.9% of the fund, out of 100 in all.
The short version
ALPS O'Shares U.S. Quality Dividend ETF (OUSA) is an index fund. It holds about 100 large and mid-sized US dividend-paying companies picked from the S-Network US Equity Large-Cap 500 Index for quality, low volatility and dividend strength. It aims for a steadier ride more than a high payout: its trailing yield was 1.39% as of October 27, 2026. Its 0.48% expense ratio is well above the 0.29% average of similar funds.
Price history
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OUSA +11.4% over the year to Oct 27, 2026, total return with distributions reinvested.
How it has behaved
| YTD | 1 yr | 3 yr | 5 yr | 10 yr | Since start | |
|---|---|---|---|---|---|---|
| OUSA official prospectus, to Dec 31, 2025 | — | +10.31% | — | +10.42% | +11.01% | — |
| O’Shares U.S. Quality Dividend Index index, same period | — | +10.87% | — | +10.98% | +11.57% | — |
| Morningstar US Large-Mid Cap Broad Value Index index, same period | — | +18.83% | — | +13.38% | +12.50% | — |
| Bloomberg US 1000 Index index, same period | — | +17.51% | — | +13.47% | +14.55% | — |
| OUSA price data to Oct 27, 2026 | +9.6% | +11.4% | +17.3% | +9.3% | — | +12.2% |
- Over the year to Oct 27, 2026, OUSA returned +11.4%, 8th of 9 among similar funds.
- Its 5-year annualized return was +9.3%.
- Its worst full calendar year was 2022 (-9.3%); its best was 2021 (+23.8%).
- The deepest fall in its price history was 19.5% (Dec 29, 2021 to Sep 30, 2022), recovered by Dec 11, 2023.
Show as a table
| Year | Price data | Prospectus (official) |
|---|---|---|
| 2026 (to date) | +9.6% | — |
| 2025 | +10.2% | +10.31% |
| 2024 | +17.1% | +17.07% |
| 2023 | +13.4% | +13.23% |
| 2022 | -9.3% | -9.21% |
| 2021 | +23.8% | +23.65% |
| 2020 | — | +6.88% |
| 2019 | — | +25.24% |
| 2018 | — | -3.06% |
| 2017 | — | +18.78% |
| 2016 | — | +12.31% |
| 2008 financial crisis stocks fell Oct 9, 2007 – Mar 9, 2009 | Before this security existed |
|---|---|
| 2020 COVID crash stocks fell Feb 19, 2020 – Mar 23, 2020 | Not in the price data, which starts Jun 2, 2020 |
| 2022 bear market stocks fell Jan 3, 2022 – Oct 12, 2022 | Lost 19% over that stretch · deepest drop along the way 19%, back to its old high 9.8 months after the low |
Dividends and income
Show as a table
| Year | Per share | Change |
|---|---|---|
| 2026 (to date) | $0.7400 | |
| 2025 | $0.8000 | 0.0% |
| 2024 | $0.8000 | -2.4% |
| 2023 | $0.8200 | +2.5% |
| 2022 | $0.8000 | +6.7% |
| 2021 | $0.7500 |
What's inside
As of Aug 31, 2026, the fund held 100 securities; the ten largest made up 44.87% of assets.
| Holding | Weight | |
|---|---|---|
| Johnson & Johnson | 5.70% | |
| Apple Inc | 5.33% | |
| Visa Inc | 5.14% | |
| Alphabet Inc | 5.08% | |
| Microsoft Corp | 4.77% | |
| Mastercard Inc | 4.71% | |
| Cisco Systems Inc | 3.91% | |
| Home Depot Inc | 3.65% | |
| Merck & Co Inc | 3.51% | |
| Mcdonald's Corp | 3.08% | |
| Accenture Plc | 2.71% | |
| Marsh & Mclennan Cos Inc | 2.59% | |
| Abbott Laboratories | 2.36% | |
| Texas Instruments Inc | 2.26% | |
| Tjx Cos Inc | 2.23% |
By country
United States 95.12%Ireland 3.57%Switzerland 1.16%By asset type
Stocks 99.85%By sector
Sectors of the companies held, for the 91% of the fund in companies that have a stock page here; other holdings and cash aren't classified. Source: N-PORT holdings report as of Aug 31, 2026. Cash, money-market funds and derivatives are shown separately from the securities list.What changed recently
- Over the three months to Aug 31, 2026, investors withdrew a net $34.5M (creations minus redemptions, per the N-PORT report).
- Monthly total returns reported for that quarter: -0.65%, +4.48%, +1.72%.
How it works
OUSA tracks the O'Shares U.S. Quality Dividend Index, which is built by O'Shares Investment Advisers. ALPS Advisors manages the fund. The index starts with the S-Network US Equity Large-Cap 500 Index. It screens out stocks with too little free float (shares readily available to trade) or too little daily trading volume. Each company is then scored on four factors: quality (profitability and low debt), low volatility (how sharply the price tends to move), dividend yield, and dividend quality (the cash available to pay dividends, plus dividend growth, to flag companies less likely to cut).
Weights start from each company's size in the starting index and are then tilted by those scores, with quality and low volatility counting most. Sector limits stop the index from straying too far from its starting index, and each stock is capped at 5% at every quarterly rebalance. The full list is rebuilt once a year. Energy and real estate are not among the eligible sectors. Holdings can drift between rebalances: Johnson & Johnson was 5.7% of the fund as of August 31, 2026.
The fund must keep at least 80% of its assets in index stocks. It may sample rather than hold every stock. It held no derivatives as of August 31, 2026, and uses no leverage or options. Portfolio turnover was 17%.
What it really costs
- OUSA charges 0.48% a year, versus an average of 0.29% for the similar funds below (6th of 9, cheapest first).
- Using the prospectus's standard example, $10,000 invested would cost about $49 in the first year and $603 over 10 years (assuming a 5% annual return).
| Cost of $10,000 (SEC example) | 1 yr | 3 yrs | 5 yrs | 10 yrs |
|---|---|---|---|---|
| OUSA | $49 | $154 | $269 | $603 |
In a retirement portfolio
Its index favors profitable, lower-volatility dividend payers, and its one-year beta (a measure of how much it moves with the market) was 0.39 as of October 27, 2026.
OUSA could serve as a calmer stock holding, but it has not avoided losses. It launched in 2015, so it has no 2008 record. Its worst quarter was the first quarter of 2020, at -20.34%. In the 2022 bear market it fell 19% between January 3 and September 30, 2022. Its deepest drop, 19.5%, took about 14 months to recover, ending December 11, 2023. Its worst calendar year was 2022, at -9.21%. Anyone selling shares to cover spending during a stretch like that would lock in losses. Income is modest: a 1.39% trailing yield as of October 27, 2026, paid monthly. On the SEC's standard $10,000 example, costs come to $49 after one year and $603 over 10 years. Past results don't predict future ones, and a plan should look at the whole portfolio, not one fund.
Who it may suit — and who should look elsewhere
May suit
- Investors wanting US blue chips with a tilt toward steadier, profitable companies; its one-year beta was 0.39 as of October 27, 2026.
- People who like monthly dividend payments, even modest ones: $0.87 per share over the trailing 12 months, a 1.39% yield, as of October 27, 2026.
- Those comfortable owning about 100 stocks led by Johnson & Johnson, Apple, Visa and Alphabet, with energy and real estate outside the eligible sectors.
Look elsewhere if
- Cost-focused investors: OUSA charges 0.48% a year, while Vanguard Dividend Appreciation ETF (VIG), which shares 46% of its holdings, charges 0.05%.
- Those seeking a high yield: OUSA's 1.39% trailing yield as of October 27, 2026 is low for a fund with 'dividend' in its name.
- Investors wanting broad-market returns: through December 31, 2025, OUSA's 10-year average was 11.01% a year versus 14.55% for the Bloomberg US 1000 Index.
Close alternatives
Matched by holdings overlap from the latest N-PORT reports.
| Fund | Overlap | Cost | Net assets | 1 yr | 3 yr |
|---|---|---|---|---|---|
| OUSA this fund | — | 0.48% | $746.2M | +11.4% | +17.3% |
| VIG Vanguard Dividend Appreciation ETF | 46% | 0.05% | $130.90B | +15.6% | +19.8% |
| DUHP Dimensional US High Profitability ETF | 42% | 0.21% | $12.28B | +11.7% | +21.2% |
| DGRW WisdomTree US Quality Dividend Growth Fund | 41% | 0.28% | $16.60B | +11.7% | +17.0% |
| QLTY GMO US Quality ETF Shs | 40% | 0.5% | $5.18B | +15.9% | — |
| VSLU Applied Finance Valuation Large Cap ETF | 40% | 0.49% | $545.8M | +12.5% | +24.8% |
| EDOW First Trust Dow 30 Equal Weight ETF | 39% | 0.5% | $306.6M | +14.6% | +19.9% |
| DIA SPDR Dow Jones Industrial Average ETF Trust | 37% | 0.16% | $45.21B | +10.8% | +17.2% |
Questions investors ask
Is OUSA good for retirement income?
OUSA pays income monthly, but not much of it. Its trailing 12-month yield was 1.39% as of October 27, 2026, or $0.87 per share. The fund's focus is quality and lower volatility more than a high payout. Its index checks dividend quality to avoid companies at risk of cutting. It still fell 19% during the 2022 bear market, so it may suit investors who want steadier stocks more than those who need high current income.
What's the difference between OUSA and VIG?
The biggest differences are cost and size. Vanguard Dividend Appreciation ETF (VIG) charges 0.05% a year versus OUSA's 0.48%. The two share 46% of their holdings. VIG had about $131 billion in net assets, compared with about $746 million for OUSA. VIG returned 15.6% over the year to October 30, 2026, while OUSA returned 11.4% over the year to October 27, 2026. OUSA's index scores stocks on quality, low volatility, dividend yield and dividend quality.
Does OUSA pay monthly dividends?
Yes. OUSA pays distributions every month. Over the 12 months to October 27, 2026, it paid $0.87 per share, a trailing yield of 1.39%. Monthly amounts can vary because they depend on the dividends paid by the roughly 100 companies the fund holds. The fund's annual expense ratio of 0.48% is taken out before income reaches shareholders.
What are OUSA's top holdings?
As of August 31, 2026, OUSA's largest holdings were Johnson & Johnson (5.7%), Apple (5.3%), Visa (5.1%), Alphabet (5.1%), Microsoft (4.8%) and Mastercard (4.7%). Cisco, Home Depot, Merck and McDonald's completed the top 10, which made up 44.9% of the fund. Technology was the largest sector at 20.3%, followed by financials at 16.4% and health care at 15.4%.
How has OUSA performed over the long term?
OUSA returned an average of 11.01% a year over the 10 years ended December 31, 2025, and 10.42% a year over five years. That trailed its own index (11.57% over 10 years), largely because of fees. It also lagged the Bloomberg US 1000 Index (14.55%) and the Morningstar US Large-Mid Cap Broad Value Index (12.5%). Its worst calendar year was 2022, at -9.21%.