AFOS vs. ACEP

Last updated Jun 4, 2026

AFOS (ARS Focused Opportunities Strategy ETF) and ACEP (ARS Core Equity Portfolio ETF) are both Large Cap Blend Equities funds from ARS Investment Partners. Their correlation of 0.91 suggests significant overlap in exposure. Both charge a 0.45% expense ratio.

Performance

AFOS vs. ACEP - Performance Comparison

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

Returns By Period

In the year-to-date period, AFOS achieves a 32.04% return, which is significantly higher than ACEP's 24.34% return.

AFOS

• 1D: -0.29%
• 1M: 8.94%
• YTD: 32.04%
• 6M: 37.37%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

ACEP

• 1D: -0.69%
• 1M: 8.05%
• YTD: 24.34%
• 6M: 27.14%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

AFOS vs. ACEP - Yearly Performance Comparison

	2026 (YTD)	2025
AFOS ARS Focused Opportunities Strategy ETF	32.04%	9.38%
ACEP ARS Core Equity Portfolio ETF	24.34%	7.88%

Correlation

The correlation between AFOS and ACEP is 0.91, 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 24, 2025	0.91

Return for Risk

AFOS vs. ACEP - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ARS Focused Opportunities Strategy ETF (AFOS) and ARS Core Equity Portfolio ETF (ACEP). 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.

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

Sharpe Ratios by Period

	AFOS	ACEP	Difference
Sharpe Ratio (All Time) Calculated using the full available price history	4.35	4.41	-0.06

Drawdowns

AFOS vs. ACEP - Drawdown Comparison

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

Drawdown Indicators

	AFOS	ACEP	Difference
Max Drawdown Largest peak-to-trough decline	-11.52%	-7.06%	-4.46%
Current Drawdown Current decline from peak	-0.29%	-0.69%	+0.40%
Average Drawdown Average peak-to-trough decline	-1.37%	-1.41%	+0.04%

Volatility

Volatility by Period

	AFOS	ACEP	Difference
Volatility (1Y) Calculated over the trailing 1-year period	20.19%	17.29%	+2.90%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	20.19%	17.29%	+2.90%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	20.19%	17.29%	+2.90%

AFOS vs. ACEP - Expense Ratio Comparison

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

Dividends

AFOS vs. ACEP - Dividend Comparison

AFOS's dividend yield for the trailing twelve months is around 0.22%, more than ACEP's 0.11% 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 AFOS and ACEP in my portfolio?

With a correlation of 0.91, AFOS and ACEP move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which ETF is better, AFOS or ACEP?

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, AFOS or ACEP?

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

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

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