Aptus Capital Advisors rolled out its third exchange traded fund, an actively managed style that incorporates a combination of a laddered bond portfolio strategy with options on U.S. equities to help investors meet their income needs.

Aptus launched the actively managed Aptus Defined Risk ETF (Cboe: DRSK), which has a 0.78% expense ratio.

John D., “JD”, Gardner, Chief Investment Officer and Managing Member at Aptus Capital Advisors, and Beckham D. Wyrick, Portfolio Manager and Chief Compliance Officer at Aptus Capital Advisors, will manage DRSK’s portfolio.

Aptus Defined Risk ETF will try to generate income and capital appreciation by investing in 90% to 95% of its assets in investment-grade corporate bonds and the remainder in large-cap U.S. stocks while limiting downside risk, according to the fund’s prospectus.

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