ACEP vs. AFOS

Last updated Jun 23, 2026

ACEP (ARS Core Equity Portfolio ETF) and AFOS (ARS Focused Opportunities Strategy ETF) are both Large Cap Blend Equities funds from ARS Investment Partners. Their correlation of 0.89 suggests significant overlap in exposure. Both charge a 0.45% expense ratio.

Performance

ACEP vs. AFOS - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ARS Core Equity Portfolio ETF (ACEP) and ARS Focused Opportunities Strategy ETF (AFOS). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, ACEP achieves a 23.46% return, which is significantly lower than AFOS's 36.79% return.

ACEP

• 1D: 0.34%
• 1M: 2.65%
• YTD: 23.46%
• 6M: 22.53%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

AFOS

• 1D: 0.72%
• 1M: 8.55%
• YTD: 36.79%
• 6M: 36.01%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

ACEP vs. AFOS - Yearly Performance Comparison

	2026 (YTD)	2025
ACEP ARS Core Equity Portfolio ETF	23.46%	8.00%
AFOS ARS Focused Opportunities Strategy ETF	36.79%	10.41%

Correlation

The correlation between ACEP and AFOS is 0.89, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (All Time) Calculated using the full available price history since Nov 21, 2025	0.89

Return for Risk

ACEP vs. AFOS - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ARS Core Equity Portfolio ETF (ACEP) and ARS Focused Opportunities Strategy ETF (AFOS). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

Drawdowns

ACEP vs. AFOS - Drawdown Comparison

The maximum ACEP drawdown since its inception was -7.06%, smaller than the maximum AFOS drawdown of -11.52%. Use the drawdown chart below to compare losses from any high point for ACEP and AFOS.

Drawdown Indicators

	ACEP	AFOS	Difference
Max Drawdown Largest peak-to-trough decline	-7.06%	-11.52%	+4.46%
Current Drawdown Current decline from peak	-1.39%	0.00%	-1.39%
Average Drawdown Average peak-to-trough decline	-1.48%	-1.41%	-0.07%

Volatility

Volatility by Period

	ACEP	AFOS	Difference
Volatility (1Y) Calculated over the trailing 1-year period	17.73%	21.17%	-3.44%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.73%	21.17%	-3.44%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.73%	21.17%	-3.44%

ACEP vs. AFOS - Expense Ratio Comparison

Both ACEP and AFOS have an expense ratio of 0.45%.

Dividends

ACEP vs. AFOS - Dividend Comparison

ACEP's dividend yield for the trailing twelve months is around 0.11%, less than AFOS's 0.22% yield.

Position	TTM	2025
ACEP ARS Core Equity Portfolio ETF	0.11%	0.14%
AFOS ARS Focused Opportunities Strategy ETF	0.22%	0.30%

Frequently Asked Questions

Can I hold both ACEP and AFOS in my portfolio?

ACEP and AFOS have a correlation of 0.89, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, ACEP or AFOS?

Both ETFs have the same 0.45% expense ratio. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, ACEP or AFOS?

ACEP and AFOS have the same expense ratio: 0.45% per year.

Which ETF pays a higher dividend yield, ACEP or AFOS?

AFOS has the higher dividend yield at 0.22%, compared with 0.11% for ACEP.