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DEFRAptus Deferred Income ETF

Get incomeTake a bet1y track recordRanked #351 of 949 in this goal

Seeks to exceed the performance of the Bloomberg U.S. Aggregate Bond Index.

By APTUS ETFs · Launched 2025

Annual Cost

0.79%

#4,215 of 5,861 · expensive

Fund Size

$139M

#2,692 of 5,861 · mid-size

Dividend YieldGoal

0.00%

Track Record

1 year

#4,298 of 5,861 · young

Performance

Total-return NAV · USD
Growth of $10,000
$10,340+3.4%

Total-return NAV, USD. Net of fund fees, before tax.

What's inside

How Beacon categorizes this fund

Asset class

Fixed income

Region

North america

Strategy

Option income

What it actually holds

By weight

Concentration

Top 10 holdings = 101.2% of fundconcentrated

N/A
54.1%
N/A
40.3%
TREASURY BILL
5.0%
N/A
2.0%
N/A
0.2%
First American Treasury Obliga
0.2%
N/A
0.1%
N/A
-0.0%
N/A
-0.0%
N/A
-0.6%

Asset allocation

Stocks
186.4%
Other
38.4%

Risk profile

Last 12 months · Sharpe & Sortino need 3+ years
Volatility (1Y)
4.9%Low

Year-on-year price swings

Max drawdown
-3.9%Mild

Worst peak-to-trough loss

Sharpe (3Y)
Unavailable

Needs 3+ years of history

Sortino (3Y)
Not yet

Needs 3+ years of history

Bond profile

Credit ratings

US Government
4.6%

Listing

Exchange
Cboe BZX

Full fund details

Objective
Seeks to exceed the performance of the Bloomberg U.S. Aggregate Bond Index.
Strategy
Actively manages a portfolio to provide a tax-efficient return stream through options, total return swaps, and Treasury Bills, aiming for total return over an extended period while minimizing tracking error against the Bloomberg U.S. Aggregate Bond Index. The Fund does not invest directly in traditional fixed income securities, focusing instead on derivatives for economic exposure equivalent to fixed income.
Inception date
May 13, 2025
Fund family
APTUS ETFs

Our take

Structural notes on how this fund behaves. Read our guide on the 6 warning signs.

Covered call
Warning

The big yield isn't extra money

The headline distribution comes from selling call options, which caps the fund's upside. Across a full market cycle that trade costs more than it brings in — often 1 to 3 percentage points a year against just holding the index. Monthly payouts make the gap easy to miss on a return summary.

Sources: Israelov & Ndong, 'A Devil's Bargain: When Generating Income Undermines Investment Returns' (NDVR, 2023)

Educational analysis of structural product characteristics. Not investment advice. Always read the fund prospectus and consult a qualified advisor before investing. More

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Data updated on 2026-08-04