Cboe Vest S&P 500 Dividend Aristocrats Target Income ETF

C000195607 Fund Overview

Cboe Vest S&P 500 Dividend Aristocrats Target Income ETF is a US ETF managed by ETF Series Solutions, categorised as United States Large Cap Value Equity. ABC INVEST provides holdings, performance, costs, cashflows, risk data, prospectus documents and SEC filings, sourced from SEC filings.

• Type: US ETF
• Manager: ETF Series Solutions
• Category: United States Large Cap Value Equity
• Assets under management: $85.24M
• 1-year return: 8.0%
• SEC CIK: 0001540305
• SEC series ID: S000059780
• Share class ID: C000195607

C000195607 Investment Objective and Strategy

Cboe Vest S&P 500 Dividend Aristocrats Target Income ETF describes its objective and strategy as follows, from its latest prospectus filed with the SEC by ETF Series Solutions.

Investment objective

The Cboe Vest S&P 500 Dividend Aristocrats Target Income ETF (the Fund) seeks to track the performance, before fees and expenses, of the Cboe S&P 500 Dividend Aristocrats Target Income Index Monthly Series (the Index).

Principal investment strategy

The Fund uses a passive management (or indexing) approach to track the performance, before fees and expenses, of the Index. Cboe S&P 500 Dividend Aristocrats Target Income Index Monthly Series The Index is a rules-based buy-write index created in 2017 and calculated daily by Cboe Exchange, Inc. (Cboe or the Index Calculation Agent), an affiliate of the Funds investment adviser, and designed with the primary goal of generating an annualized level of income from stock dividends and option premiums that is approximately 3% over the annual dividend yield of the S&P 500 Index and a secondary goal of generating price returns that are proportional to the price returns of the S&P 500 Index. The Index is composed of two parts: (1) an equal-weighted portfolio of the stocks contained in the S&P 500 Dividend Aristocrats Index (the Aristocrat Stocks) that have options that trade on a national securities exchange and (2) a rolling series of short (written) call options on each of the Aristocrat Stocks (the Covered Calls).

The S&P 500 Dividend Aristocrats Index generally includes companies in the S&P 500 Index that have increased dividend payments each year for at least 25 consecutive years and meet certain market capitalization and liquidity requirements. A written (sold) call option gives the seller the obligation to sell shares of the underlying asset at a specified price (strike price) at a specified date (expiration date). The writer (seller) of the call option receives an amount (premium) for writing (selling) the option. In the event the underlying asset appreciates above the strike price as of the expiration date, the writer (seller) of the call option will have to pay the difference between the value of the underlying asset and the strike price (which loss is offset by the premium initially received), and in the event the underlying asset declines in value, the call option may end up worthless and the writer (seller) of the call option retains the premium.

The Covered Calls are written (sold) 1 by the Index on the third Friday of each month with an expiration typically on the third Friday of the following month and a strike price as close as possible to the closing price of the underlying Aristocrat Stock at the time the Covered Call is written. The Index employs a partial covered call strategy, meaning that Covered Calls will be written on a notional value of no more than 20% of the value of each underlying Aristocrat Stock, such that the short position in each call option is covered by a portion of the corresponding Aristocrat Stock held by the Index. For example, if at the time Covered Calls are written by the Index the Index reflected a $50,000 position in a particular Aristocrat Stock, the notional value of such Covered Calls ( i.e. , the strike price multiplied by the number of shares subject to the Covered Calls) would not exceed $10,000.

The exact amount of Covered Calls written is based on a calculation designed to result in the Index generating income from (i) dividends from the Aristocrat Stocks and (ii) premiums from writing Covered Calls that is 3% higher annually than the total dividend yield of the S&P 500 Index constituents. The equity component of the Index is rebalanced ( i.e. , weights are reset to equal-weighted) quarterly, effective after the close of the last business day of each January, April, July, and October, and reconstituted ( i.e. , Aristocrat Stocks are added and deleted according to the Index rules) annually, effective after the close of the last business day of each January. The Funds Investment Strategy The Fund attempts to invest all, or substantially all, of its assets in the component securities that make up the Index.

Under normal circumstances, at least 80% of the Funds total assets (exclusive of any collateral held from securities lending) will be invested in the component securities of the Index. The Adviser expects that, over time, the correlation between the Funds performance and that of the Index, before fees and expenses, will be 95% or better. The Fund will generally use a replication strategy to achieve its investment objective, meaning it generally will invest in all of the component securities of the Index in approximately the same proportion as in the Index . However, the Fund may use a representative sampling strategy, meaning it may invest in a sample of the securities in the Index whose risk, return, and other characteristics closely resemble the risk, return, and other characteristics of the Index as a whole, when the Funds investment adviser believes it is in the best interests of the Fund ( e.g.

, when replicating the Index involves practical difficulties or substantial costs, an Index constituent becomes temporarily illiquid, unavailable, or less liquid, or as a result of legal restrictions or limitations that apply to the Fund but not to the Index). The Fund generally may invest up to 20% of its total assets (exclusive of any collateral held from securities lending) in securities or other investments not included in the Index, but which the Funds investment adviser believes will help the Fund track the Index. For example, the Fund may invest in securities that are not components of the Index to reflect various corporate actions and other changes to the Index (such as reconstitutions, additions, and deletions) or in options with slightly different strike prices or expiration dates than the options components of the Index to maximize the Funds liquidity by utilizing a broader range of options, while maintaining the overall risk, return, and other characteristics of the Index.

To the extent the Index concentrates ( i.e. , holds more than 25% of its total assets) in the securities of a particular industry or group of related industries, the Fund will concentrate its investments to approximately the same extent as the Index. The Fund is non-diversified and therefore may invest a larger percentage of its assets in the securities of a single issuer or small number of issuers than diversified funds. 1 The Index is a hypothetical portfolio of options and equity securities. As such, the Index cannot actually buy or sell an option or equity security, but the Index reflects the value of such transactions as if the Index could actually engage in them. The Index is described as writing or selling options to aid investors in understanding how the Fund will act in tracking the Index.

C000195607 Performance

Total returns for C000195607 (as of 2026-10-01), from SEC filings.

C000195607 Risk Information

Risk metrics for C000195607, derived from monthly returns in SEC filings.

• 1-year volatility (annualised): 25.0%

C000195607 Costs and Fees

C000195607 costs about $75 per $10,000 invested per year in fund expenses.

• Net expense ratio: 0.75%
• Gross expense ratio: 0.75%
• Portfolio turnover: 83%
• Brokerage commissions: 2.78 bps of average net assets (SEC N-CEN)

C000195607 Cashflows

Over the 12 months to 2021-01, Cboe Vest S&P 500 Dividend Aristocrats Target Income ETF had net inflows of $29.37M, from monthly SEC N-PORT filings.

C000195607 Debt Constituents

No individual debt constituents are reported in Cboe Vest S&P 500 Dividend Aristocrats Target Income ETF's latest SEC N-PORT filing.

C000195607 Prospectus and SEC Filings

Official Cboe Vest S&P 500 Dividend Aristocrats Target Income ETF filings on SEC EDGAR — prospectus, portfolio holdings and annual reports.

• Prospectus (485BPOS) — filed 2020-02-28
• Prospectus (485BPOS) — filed 2019-03-08
• Prospectus (485BPOS) — filed 2018-03-14
• Portfolio holdings (N-PORT) — filed 2021-03-30
• Portfolio holdings (N-PORT) — filed 2020-12-23
• Portfolio holdings (N-PORT) — filed 2020-09-24
• Annual census (N-CEN) — filed 2021-01-14
• Annual census (N-CEN) — filed 2020-01-13

Related Funds

Other United States Large Cap Value Equity funds tracked on ABC INVEST:

• Vanguard Value Index Fund (VIVAX)
• Washington Mutual Investors Fund (AWSHX)
• Investment CO Of America (AIVSX)
• American Mutual Fund (AMRMX)
• Vanguard High Dividend Yield Index Fund (VYM)

Data Sources

ABC INVEST compiles this page from public filings made to the U.S. Securities and Exchange Commission (SEC) through EDGAR: portfolio holdings and monthly cashflows from Form N-PORT, expenses and returns from fund prospectuses (Form 485BPOS) and the SEC DERA Risk/Return Summary data sets, annual data from Form N-CEN, and shareholder reports from Form N-CSR.