RBUS — Nationwide Risk-Based U.S. Equity ETF

RBUS Fund Overview

RBUS — Nationwide Risk-Based U.S. Equity ETF is a US ETF managed by ETF Series Solutions, categorised as United States Blend / Core 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 Blend / Core Equity
• Assets under management: $117.26M
• 1-year return: 10.8%
• Ticker: RBUS
• SEC CIK: 0001540305
• SEC series ID: S000058851
• Share class ID: C000193023

RBUS Investment Objective and Strategy

Nationwide Risk-Based U.S. Equity ETF describes its objective and strategy as follows, from its latest prospectus filed with the SEC by ETF Series Solutions.

Investment objective

The Nationwide Risk - Based U.S. Equity ETF (the Fund) seeks to track the total return performance, before fees and expenses, of the R Risk-Based US Index (the Index).

Principal investment strategy

The Fund uses a passive management (or indexing) approach to track the total return performance, before fees and expenses, of the Index. R Risk-Based US Index The Index is a rules-based, equal risk-weighted index that is designed to provide exposure to U.S.-listed large capitalization companies with lower volatility, reduced maximum drawdown (the loss from the highest Index value to its lowest value before achieving a new highest value), and an improved Sharpe ratio (a risk-adjusted measure of return) as compared to traditional, market capitalization weighted approaches. The Index was developed in 2014 and is owned by Rothschild Risk Based Investments LLC, the Funds index provider. Construction of the Index begins with the universe of equity securities that have their primary listing in the United States.

The universe is then screened to keep only the top 500 equity securities by market capitalization and to eliminate securities with insufficient liquidity (average daily traded value of less than $1 million over the most recent three-month period) and equity securities that have been listed for less than one year (the remaining securities are referred to as the Eligible Universe). The securities in the Eligible Universe are then subjected to a marginal risk contribution calculation based on each securitys volatility and correlation to the other Eligible Universe securities for the most recent one-year calculation period. The securities in the Eligible Universe are then ranked based on their marginal risk contribution, and the 50% of securities with the lowest marginal risk contribution are selected to be included in the Index (the Index Constituents).

The Index Constituents are then weighted by a systematic equally-weighted risk contribution model (the Risk-Weighting Model). The Risk-Weighting Model incorporates each Index Constituents volatility and correlation to the other Index Constituents for the most recent one-year calculation period to produce a portfolio where each Index Constituent contributes the same level of risk, subject to the constraint that no individual Index Constituent will have a weight that exceeds 5% of the Index. The intent of security selection by marginal risk contribution ranking and the Risk-Weighting Model is to (i) lower the overall volatility of the Index, (ii) increase its Sharpe ratio, and (iii) reduce the maximum drawdown without negatively impacting the diversification and expected return of the Index.

The list of securities in the Eligible Universe is updated quarterly on the first Friday of each January, April, July, and October (or the previous business day if such Friday is not a business day). The Index is reconstituted (i.e., Index Constituents are added or deleted and weights are reset based on the Risk-Weighting Model) monthly at the close of business on the second Friday of each month (or the next business day if such Friday is not a business day). 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 Fund 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 the Fund will generally invest in all of the component securities of the Index in the same approximate proportions 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 sub-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 sub-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). 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.

RBUS Performance

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

RBUS Risk Information

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

• 1-year volatility (annualised): 13.6%

RBUS Costs and Fees

RBUS costs about $30 per $10,000 invested per year in fund expenses.

• Net expense ratio: 0.30%
• Gross expense ratio: 0.30%
• Portfolio turnover: 57%
• Brokerage commissions: 2.78 bps of average net assets (SEC N-CEN)

RBUS Cashflows

Over the 12 months to 2022-02, Nationwide Risk-Based U.S. Equity ETF had net inflows of $140.06M, from monthly SEC N-PORT filings.

RBUS Debt Constituents

No individual debt constituents are reported in Nationwide Risk-Based U.S. Equity ETF's latest SEC N-PORT filing.

RBUS Prospectus and SEC Filings

Official Nationwide Risk-Based U.S. Equity ETF filings on SEC EDGAR — prospectus, portfolio holdings and annual reports.

• Prospectus (485BPOS) — filed 2021-12-10
• Prospectus (485BPOS) — filed 2020-12-14
• Prospectus (485BPOS) — filed 2019-12-20
• Portfolio holdings (N-PORT) — filed 2022-04-26
• Portfolio holdings (N-PORT) — filed 2022-01-27
• Portfolio holdings (N-PORT) — filed 2021-10-28
• Annual census (N-CEN) — filed 2021-11-15
• Annual census (N-CEN) — filed 2020-11-13

Related Funds

Other United States Blend / Core Equity funds tracked on ABC INVEST:

• International Small Company Portfolio (DFISX)
• iShares Preferred and Income Securities ETF (PFF)
• Guggenheim Macro Opportunities Fund (GIOAX)
• Emerging Markets Portfolio (DFEMX)
• Eaton Vance Global Macro Absolute Return Advantage Fund (EGRAX)

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.