ACIO vs ETY
Aptus Collared Investment Opportunity ETF vs Eaton Vance Tax-Managed Diversified Equity Income Fund
Which is better, ACIO or ETY?
ACIO has been ahead.
ACIO has a lower expense ratio. ACIO led over 1Y, 3Y, 5Y and the full window. ACIO is less concentrated, with 40.8% of the fund in its ten largest positions against 50.5%.
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 | ETY |
|---|---|---|
| Expense Ratio | 0.79%Best | 1.06% |
| AUM | $2.4B | $1.8B |
| Dividend Yield | 0.39% | 7.52% |
| Holdings | 524 | 61 |
| YTD Return | +8.01%Best | -2.20% |
| 1Y Return | +8.79%Best | -2.84% |
| 3Y Return (annualized) | +15.63%Best | +15.48% |
| 5Y Return (annualized) | +9.74%Best | +8.08% |
| Volatility (annualized) | 10.0%Best | 18.4% |
| Max Drawdown | -14.9%Best | -43.4% |
| $10,000 over 5 years | $15,916Best | $14,748 |
| Top 10 Weight | 40.8%Best | 50.5% |
| Fund Family | Aptus ETFs | Eaton Vance |
| Category | Equity | Equity |
| Style | Large Cap Blend | Large Cap Blend |
| Inception | Jul 9, 2019 | Nov 27, 2006 |
Volatility and max drawdown are measured over the window both funds cover: Jul 10, 2019 to Oct 14, 2026 (7.3 years).
ACIO vs ETY growth
Month-end closes. Both lines start at 0% in the first month shown, so the gap between them is the difference in growth across that window. The full view covers the 7.3 years both funds cover.
ACIO vs ETY Performance
Aptus Collared Investment Opportunity ETF (ACIO) is an ETF from Aptus ETFs and Eaton Vance Tax-Managed Diversified Equity Income Fund (ETY) is an ETF from Eaton Vance. Over the past year ACIO returned +8.79% while ETY returned -2.84%. Year to date, ACIO is up 8.01% versus a loss of 2.20% for ETY.
Over three years, ACIO compounded at +15.63% per year against +15.48% for ETY; over five years the annualized figures are +9.74% and +8.08% respectively. Across the full 7-year window we track, ACIO has the edge at +9.65% annualized vs +8.71%.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
ETY has been the more volatile fund, with annualized monthly volatility of 18.4% compared with 10.0% 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 -14.9% for ACIO and -43.4% for ETY. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at 0.81. They usually move together, but the gap leaves some room for diversification.
Fees and Cost Over Time
ACIO charges 0.79% per year while ETY charges 1.06%. On a $10,000 position that is $79 vs $106 annually, a gap of $27 per year that compounds over a long holding period. On income, ACIO currently yields 0.39% against 7.52% for ETY.
Holdings Overlap
54.8% of ACIO's money is in holdings ETY also owns. 79.1% of ETY's money is in holdings ACIO also owns.
Most of ETY is already inside ACIO. Owning both mostly buys the same companies twice.
The two holdings books were reported 62 days apart, ACIO as of Oct 1, 2026 and ETY as of Jul 31, 2026, so some of the difference between them is the time between the two reports rather than the funds.
34 positions in common, counted across the 167 positions we hold weights for in ACIO and 58 in ETY, against full books of 524 and 61.
What only one of them owns
Our book lists 20 positions for ETY that do not appear in our book for ACIO (17.7% of the fund), and 132 for ACIO that do not appear in ETY (44.8%).
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 ETY | Difference |
|---|---|---|---|
| NVDANvidia Corp | 8.44% | 9.28% | 0.84% |
| AAPLApple, Inc | 7.26% | 7.05% | 0.21% |
| GOOGAlphabet Inc. C | 5.39% | 7.02% | 1.63% |
| MSFTMicrosoft Corp | 5.75% | 6.19% | 0.44% |
| AMZNAmazon.Com Inc | 3.69% | 5.50% | 1.81% |
| AVGOBroadcom Inc | 2.46% | 4.14% | 1.68% |
| JPMJpmorgan Chase | 1.68% | 3.23% | 1.55% |
| METAMeta Platforms Inc | 2.42% | 2.35% | 0.07% |
| VVisa Inc Class A | 1.82% | 2.76% | 0.94% |
| LLYEli Lilly & Co. | 1.40% | 2.66% | 1.26% |
79.1% of ETY is already inside ACIO.
You probably hold more than these two. Add the rest and see how much of the whole book is the same companies twice.
Free for up to 10 holdings. No account needed.
Frequently Asked Questions
Which is cheaper, ACIO or ETY?
ACIO has an expense ratio of 0.79% while ETY charges 1.06%. ACIO is the cheaper option, by $27 a year on a $10,000 investment.
Which performed better, ACIO or ETY?
Over the past year ACIO returned +8.79% vs -2.84% for ETY, so ACIO leads on 1-year performance. Over the longest common window we track (7 years), ACIO annualized +9.65% vs +8.71% for ETY. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, ACIO or ETY?
ETY has been the more volatile fund at 18.4% annualized versus 10.0% for ACIO. Worst drawdown: ACIO -14.9% vs ETY -43.4%.
Should I hold both ACIO and ETY?
ACIO and ETY have a monthly-return correlation of 0.81, 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 ETY?
79.1% of ETY's money is in holdings ACIO also owns. 79.1% of ETY's is in holdings ACIO also owns. They hold 34 positions in common, counted across the 167 positions we hold weights for in ACIO and 58 in ETY.
Which pays a higher dividend, ACIO or ETY?
ACIO yields 0.39% while ETY yields 7.52%, so ETY currently pays the higher dividend yield.
Is ETY better than ACIO?
ACIO has a lower expense ratio. ACIO led over 1Y, 3Y, 5Y and the full window. ACIO is less concentrated, with 40.8% of the fund in its ten largest positions against 50.5%. Which one suits a particular account depends on what it is for. This is information, not a recommendation.