ACIO vs. MSMR

Last updated Jun 4, 2026

ACIO (Aptus Collared Income Opportunity ETF) and MSMR (McElhenny Sheffield Managed Risk ETF) are both Diversified Portfolio funds. Both are actively managed. Over the past 3 years, ACIO returned 15.97%/yr vs 18.63%/yr for MSMR. A 0.63 correlation means they provide meaningful diversification when combined. ACIO charges 0.79%/yr vs 0.97%/yr for MSMR.

Performance

ACIO vs. MSMR - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Aptus Collared Income Opportunity ETF (ACIO) and McElhenny Sheffield Managed Risk ETF (MSMR). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, ACIO achieves a 7.22% return, which is significantly lower than MSMR's 8.50% return.

ACIO

• 1D: -0.55%
• 1M: 3.52%
• YTD: 7.22%
• 6M: 6.40%
• 1Y: 15.88%
• 3Y*: 15.97%
• 5Y*: 10.18%
• 10Y*: —

MSMR

• 1D: -0.05%
• 1M: 4.65%
• YTD: 8.50%
• 6M: 8.41%
• 1Y: 25.41%
• 3Y*: 18.63%
• 5Y*: —
• 10Y*: —

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

ACIO vs. MSMR - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
ACIO Aptus Collared Income Opportunity ETF	7.22%	9.03%	21.92%	15.90%	-10.31%	2.16%
MSMR McElhenny Sheffield Managed Risk ETF	8.50%	17.06%	21.58%	18.77%	-11.88%	-1.12%

Correlation

The correlation between ACIO and MSMR is 0.72, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.72
Correlation (3Y) Calculated over the trailing 3-year period	0.75
Correlation (All Time) Calculated using the full available price history since Nov 18, 2021	0.63

The correlation between ACIO and MSMR shifts across timeframes, from 0.63 (all time) to 0.75 (3 years), reflecting how their relationship changes across market environments.

ACIO vs. MSMR - Sectors Allocation Comparison

Sectors	ACIO	MSMR
Technology	35.2%	31.5%
Financial Services	11.9%	3.5%
Communication Services	11.3%	8.7%
Consumer Cyclical	10.1%	8.1%
Healthcare	8.4%	5.9%
Industrials	8.3%	2.7%
Consumer Defensive	5.0%	8.4%
Energy	3.6%	27.4%
Utilities	2.4%	2.5%
Real Estate	2.1%	0.3%
Basic Materials	1.7%	1.0%

Return for Risk

ACIO vs. MSMR — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

ACIO

ACIO Risk / Return Rank: 53
ACIO Sharpe Ratio Rank: 56
ACIO Sortino Ratio Rank: 57
ACIO Omega Ratio Rank: 56
ACIO Calmar Ratio Rank: 44
ACIO Martin Ratio Rank: 52

MSMR

MSMR Risk / Return Rank: 67
MSMR Sharpe Ratio Rank: 64
MSMR Sortino Ratio Rank: 63
MSMR Omega Ratio Rank: 65
MSMR Calmar Ratio Rank: 72
MSMR Martin Ratio Rank: 70

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

ACIO vs. MSMR - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Aptus Collared Income Opportunity ETF (ACIO) and McElhenny Sheffield Managed Risk ETF (MSMR). 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.

	ACIO	MSMR	Difference
Sharpe ratio: Return per unit of total volatility	1.93	2.14	-0.21
Sortino ratio: Return per unit of downside risk	2.74	2.94	-0.20
Omega ratio: Gain probability vs. loss probability	1.35	1.39	-0.04
Calmar ratio: Return relative to maximum drawdown	2.21	3.62	-1.41
Martin ratio: Return relative to average drawdown	8.84	12.93	-4.09
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

ACIO vs. MSMR - Sharpe Ratio Comparison

The current ACIO Sharpe Ratio is 1.93, which is comparable to the MSMR Sharpe Ratio of 2.14. The chart below compares the historical Sharpe Ratios of ACIO and MSMR, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	ACIO	MSMR	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.93	2.14	-0.21
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.93	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.90	1.07	-0.17

Drawdowns

ACIO vs. MSMR - Drawdown Comparison

The maximum ACIO drawdown since its inception was -14.19%, roughly equal to the maximum MSMR drawdown of -14.86%. Use the drawdown chart below to compare losses from any high point for ACIO and MSMR.

Drawdown Indicators

	ACIO	MSMR	Difference
Max Drawdown Largest peak-to-trough decline	-14.19%	-14.86%	+0.67%
Max Drawdown (1Y) Largest decline over 1 year	-7.22%	-7.05%	-0.17%
Max Drawdown (3Y) Largest decline over 3 years	-12.12%	-8.84%	-3.28%
Max Drawdown (5Y) Largest decline over 5 years	-14.00%	—	—
Current Drawdown Current decline from peak	-0.64%	-0.05%	-0.59%
Average Drawdown Average peak-to-trough decline	-3.19%	-5.14%	+1.95%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.80%	1.97%	-0.17%

Volatility

ACIO vs. MSMR - Volatility Comparison

Aptus Collared Income Opportunity ETF (ACIO) and McElhenny Sheffield Managed Risk ETF (MSMR) have volatilities of 2.18% and 2.16%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	ACIO	MSMR	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.18%	2.16%	+0.02%
Volatility (6M) Calculated over the trailing 6-month period	6.13%	8.95%	-2.82%
Volatility (1Y) Calculated over the trailing 1-year period	8.26%	11.94%	-3.68%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	11.05%	10.24%	+0.81%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	11.64%	10.24%	+1.40%

ACIO vs. MSMR - Expense Ratio Comparison

ACIO has a 0.79% expense ratio, which is lower than MSMR's 0.97% expense ratio.

Dividends

ACIO vs. MSMR - Dividend Comparison

ACIO's dividend yield for the trailing twelve months is around 0.38%, less than MSMR's 1.80% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019
ACIO Aptus Collared Income Opportunity ETF	0.38%	0.37%	0.44%	0.72%	1.51%	0.61%	1.02%	1.32%
MSMR McElhenny Sheffield Managed Risk ETF	1.80%	1.51%	2.26%	0.81%	0.65%	0.07%	0.00%	0.00%

Frequently Asked Questions

Can I hold both ACIO and MSMR in my portfolio?

ACIO and MSMR have a correlation of 0.72, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, ACIO or MSMR?

ACIO has higher volatility (2.18%) compared to MSMR (2.16%). In terms of maximum drawdown, ACIO dropped -14.19% vs MSMR's -14.86%.

Which ETF is better, ACIO or MSMR?

On 3-year performance, MSMR leads with 18.63% vs 15.97% for ACIO. On fees, ACIO is cheaper at 0.79% per year. Their volatility is very similar. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, ACIO or MSMR?

Over the 3-year period, MSMR has performed better with a 18.63% return vs 15.97%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, ACIO or MSMR?

ACIO is cheaper with a 0.79% expense ratio, compared with 0.97% for MSMR.

Which ETF pays a higher dividend yield, ACIO or MSMR?

MSMR has the higher dividend yield at 1.80%, compared with 0.38% for ACIO.

What is the main difference between ACIO and MSMR?

They also come from different issuers: Aptus Capital Advisors and McElhenny Sheffield. Their fees differ too: 0.79% for ACIO and 0.97% for MSMR.

Which has better risk-adjusted returns?

MSMR currently has the higher Sharpe Ratio (2.14 vs 1.93), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.