ACIO vs KAT
Aptus Collared Investment Opportunity ETF vs Scharf ETF
Which is better, ACIO or KAT?
ACIO has been ahead.
KAT has a lower expense ratio. ACIO led over 1Y and the full window. ACIO is less concentrated, with 40.8% of the fund in its ten largest positions against 50.9%.
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 | KAT |
|---|---|---|
| Expense Ratio | 0.79% | 0.75%Best |
| AUM | $2.4B | $657M |
| Dividend Yield | 0.39% | 0.53% |
| Holdings | 524 | 68 |
| YTD Return | +8.01%Best | +6.42% |
| 1Y Return | +8.79%Best | +4.30% |
| 3Y Return (annualized) | +15.63% | - |
| 5Y Return (annualized) | +9.74% | - |
| Volatility (annualized) | 9.5%Best | 12.7% |
| Max Drawdown | -7.2%Best | -9.3% |
| $10,000 over 1.1 years | $11,141Best | $10,725 |
| Top 10 Weight | 40.8%Best | 50.9% |
| Fund Family | Aptus ETFs | Scharf Funds |
| Category | Equity | Equity |
| Style | Large Cap Blend | Large Cap Blend |
| Inception | Jul 9, 2019 | Dec 30, 2011 |
Volatility and max drawdown, and the $10,000 over 1.1 years row, are measured over the window both funds cover: Aug 25, 2025 to Oct 14, 2026 (1.1 years).
ACIO vs KAT 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 1.1 years both funds cover.
ACIO vs KAT Performance
Aptus Collared Investment Opportunity ETF (ACIO) is an ETF from Aptus ETFs and Scharf ETF (KAT) is an ETF from Scharf Funds. Over the past year ACIO returned +8.79% while KAT returned +4.30%. Year to date, ACIO is up 8.01% versus a gain of 6.42% for KAT.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
KAT has been the more volatile fund, with annualized monthly volatility of 12.7% compared with 9.5% 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 -7.2% for ACIO and -9.3% for KAT. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at 0.46. They move together some of the time, and apart the rest.
Fees and Cost Over Time
ACIO charges 0.79% per year while KAT charges 0.75%. On a $10,000 position that is $79 vs $75 annually, a gap of $4 per year that compounds over a long holding period. On income, ACIO currently yields 0.39% against 0.53% for KAT.
Holdings Overlap
17.6% of ACIO's money is in holdings KAT also owns. 51.0% of KAT's money is in holdings ACIO also owns.
The two portfolios partly overlap.
15 positions in common, counted across the 167 positions we hold weights for in ACIO and 31 in KAT, against full books of 524 and 68.
What only one of them owns
Our book lists 11 positions for KAT that do not appear in our book for ACIO (35.7% of the fund), and 151 for ACIO that do not appear in KAT (82.0%).
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 KAT | Difference |
|---|---|---|---|
| MSFTMicrosoft Corp | 5.75% | 6.30% | 0.55% |
| AMZNAmazon.Com Inc | 3.69% | 5.94% | 2.25% |
| METAMeta Platforms Inc | 2.42% | 6.06% | 3.64% |
| VVisa Inc Class A | 1.82% | 4.50% | 2.68% |
| MCKMckesson Corp. | 0.18% | 4.70% | 4.52% |
| MMCMarsh & Mclennan Cos Inc Common Stock Usd 1 | 0.13% | 4.11% | 3.98% |
| SCHWSchwab Strategic T | 0.25% | 3.47% | 3.22% |
| DISWalt Disney Co | 0.29% | 2.91% | 2.62% |
| ADBEAdobe Systems | 0.16% | 2.78% | 2.62% |
| BRK.BBerkshire Hathaway Inc Brk/B Us Equity | 1.42% | 1.48% | 0.06% |
51.0% of KAT 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 KAT?
ACIO has an expense ratio of 0.79% while KAT charges 0.75%. KAT is the cheaper option, by $4 a year on a $10,000 investment.
Which performed better, ACIO or KAT?
Over the past year ACIO returned +8.79% vs +4.30% for KAT, so ACIO leads on 1-year performance. Over the longest common window we track (1 years), ACIO annualized +10.32% vs +6.57% for KAT. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, ACIO or KAT?
KAT has been the more volatile fund at 12.7% annualized versus 9.5% for ACIO. Worst drawdown: ACIO -7.2% vs KAT -9.3%.
Should I hold both ACIO and KAT?
ACIO and KAT have a monthly-return correlation of 0.46, 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 KAT?
51.0% of KAT's money is in holdings ACIO also owns. 51.0% of KAT's is in holdings ACIO also owns. They hold 15 positions in common, counted across the 167 positions we hold weights for in ACIO and 31 in KAT.
Which pays a higher dividend, ACIO or KAT?
ACIO yields 0.39% while KAT yields 0.53%, so KAT currently pays the higher dividend yield.
Is KAT better than ACIO?
KAT has a lower expense ratio. ACIO led over 1Y and the full window. ACIO is less concentrated, with 40.8% of the fund in its ten largest positions against 50.9%. Which one suits a particular account depends on what it is for. This is information, not a recommendation.