IDUB ETF — Holdings & Analysis

companies in developed and emerging markets. A smaller portion of the fund is allocated to ELNs to generate income. With an expense ratio of 0.44%, IDUB aims to provide enhanced yield through its unique investment approach, although its current dividend yield is 0.00%.

Aptus International Enhanced Yield ETF (IDUB) ETF — Price, Holdings & Analysis

The Aptus International Enhanced Yield ETF (IDUB) is an actively managed fund with $0.37 billion in assets under management. It employs a hybrid equity and equity-linked note (ELN) strategy, primarily investing in other ETFs that hold equity securities of non-U.S. companies in developed and emerging markets. A smaller portion of the fund is allocated to ELNs to generate income. With an expense ratio of 0.44%, IDUB aims to provide enhanced yield through its unique investment approach, although its current dividend yield is 0.00%.

ETF Overview

The fund is an actively managed exchange-traded fund (“ETF”) that seeks to achieve its objective through a hybrid equity and equity-linked note (“ELN”) strategy. The fund invests primarily in a portfolio of other ETFs that invest in equity securities of non-U.S. (international) companies in developed and emerging markets throughout the world (the “Equity Strategy”), and invests the remainder of its assets in equity-linked notes (“ELNs”) to generate income (the “ELN” strategy). It is non-diversified.

IDUB seeks to provide investors with exposure to international equities while also generating income through equity-linked notes. The fund achieves this by primarily investing in other ETFs that focus on non-U.S. equities, with a significant allocation to the Vanguard Total International Stock ETF (VXUS) at 99.42%. The remaining assets are invested in ELNs, which are designed to provide income. The fund's equity strategy provides exposure to various sectors, with notable allocations to Financial Services (23.0%), Industrials (16.0%), and Technology (15.6%). IDUB is non-diversified, meaning it can concentrate its investments in a smaller number of holdings, potentially leading to higher volatility. The fund's country exposure is heavily weighted towards the United States, at 100.0%, due to its investment in U.S.-listed ETFs. This ETF is designed for investors seeking international equity exposure with an active management component and a focus on income generation through ELNs. Past performance does not guarantee future results.

Risk Metrics

IDUB carries several risks inherent to its investment strategy. Its concentration in the Vanguard Total International Stock ETF (VXUS) creates a significant concentration risk, as the fund's performance is heavily reliant on the performance of this single holding. The fund's sector allocation also presents risks, with significant exposure to Financial Services, Industrials, and Technology sectors. Economic downturns or sector-specific challenges in these areas could negatively impact the fund's performance. With a beta of 0.51, IDUB exhibits lower volatility compared to the broader market. The expense ratio of 0.44% can create a drag on returns, especially in periods of lower market performance. As a non-diversified fund, IDUB's performance may be more volatile than more diversified international equity ETFs. Investors should carefully consider these risks before investing in IDUB. Past performance does not guarantee future results.

Expense Ratio

0.44%

What does IDUB hold?

Holding	Weight
Vanguard Total International Stock ETF (VXUS)	99.42%
First American Treasury Obligs X (FXFXX)	0.40%

How Is the Fund Allocated?

Sector	Weight
Financial Services	23.0%
Industrials	16.0%
Technology	15.6%
Consumer Cyclical	9.4%
Healthcare	7.8%
Basic Materials	7.7%
Consumer Defensive	5.3%
Communication Services	5.0%
Energy	4.5%
Utilities	3.1%
Real Estate	2.8%

Country	Weight
United States	100.0%
Other	0.0%

Dividend Yield

0.00%

Invesco QQQ Trust, Series 1 (QQQ) — 0.18% expense ratio
State Street Technology Select Sector SPDR ETF (XLK) — 0.08% expense ratio
State Street Energy Select Sector SPDR ETF (XLE) — 0.08% expense ratio
State Street SPDR Dow Jones Industrial Average ETF Trust (DIA) — 0.16% expense ratio
iShares Russell 2000 ETF (IWM) — 0.19% expense ratio
State Street Financial Select Sector SPDR ETF (XLF) — 0.08% expense ratio
iShares MSCI Emerging Markets ETF (EEM) — 0.72% expense ratio
State Street SPDR S&P 500 ETF (SPY) — 0.09% expense ratio

Risk Metrics

Beta: 0.51

Questions & Answers

What is IDUB and what does it track?

The Aptus International Enhanced Yield ETF (IDUB) is an actively managed ETF that seeks to provide exposure to international equities while generating income through equity-linked notes (ELNs). The fund primarily invests in other ETFs that hold equity securities of non-U.S.

companies in both developed and emerging markets.

What is the expense ratio for IDUB?

The expense ratio for the Aptus International Enhanced Yield ETF (IDUB) is 0.44%. This means that for every $10,000 invested in the fund, $44 is used to cover the fund's operating expenses annually.

What are the top holdings in IDUB?

The top holdings in the Aptus International Enhanced Yield ETF (IDUB) are heavily concentrated in a single ETF. As of 2026-03-15, the top two holdings are: 1. Vanguard Total International Stock ETF (VXUS) — 99.42%, and 2.

First American Treasury Obligs X (FXFXX) — 0.40%.

Is IDUB a good long-term investment?

Whether IDUB is a suitable long-term investment depends on an individual investor's specific financial goals, risk tolerance, and investment horizon. IDUB offers exposure to international equities with an active management component and a focus on income generation through ELNs.

The fund's expense ratio is 0.44%, and its beta is 0.51, indicating lower volatility compared to the broader market.

How does IDUB compare to similar ETFs?

IDUB differentiates itself through its hybrid strategy of investing in international equity ETFs and equity-linked notes (ELNs). Many other international equity ETFs are passively managed and track broad market indexes.

IDUB's expense ratio of 0.44% is comparable to other actively managed international equity ETFs.

Does IDUB pay dividends?

As of 2026-03-15, the Aptus International Enhanced Yield ETF (IDUB) has a dividend yield of 0.00%. While the fund's strategy includes the use of equity-linked notes (ELNs) to generate income, the current dividend yield is zero.

This may be due to the specific ELNs held by the fund or the timing of dividend distributions.