OUSA

O’Shares U.S. Quality Dividend ETF

Why Invest in OUSA

Strong 5-Year Dividend Growth: 10.0%
More return, less risk than generic Value?

Seeks companies with strong profitability, balance sheets and dividend growth which may reduce risk of dividend yield traps while providing a growing source of income.

Dividend Growth: Portfolio weighted average growth rate over five years in net dividend per share. Data as of 3/31/2021.

Get Dividend Research

Why OUSA for U.S. Large Cap Quality Dividends?

Dividend Investing Research Paper

May 17, 2021

Research Paper: The Power of a Quality Dividend Investment Strategy | Q1 2021

Why OUSA for Large Cap Quality Dividends?

Quality Advantages. Seek companies with strong balance sheets and profitability, for long-term investors.
Performance. High Quality Dividend paying companies provide a performance alternative to value investing.
Diversified Portfolio. Approximately 100 major companies selected according to measures of financial quality.

Fund Investment Objective

The Fund seeks to track the performance (before fees and expenses) of its target index, the O’Shares U.S. Quality Dividend Index (the “Target Index”).

The Target Index is designed to measure the performance of publicly-listed large-capitalization and mid-capitalization dividend-paying issuers in the United States that meet certain market capitalization, liquidity, high quality, low volatility and dividend yield thresholds, as determined by O’Shares Investment Advisers, LLC (the “Index Provider”). The high quality and low volatility requirements are designed to reduce exposure to high dividend equities that have experienced large price declines.

Fund & Market Data

Profile
Symbol	OUSA
Listing Exchange	Cboe
Inception Date	7/14/2015
CUSIP	67110P407
Target Index Provider	O'Shares
Target Index Symbol	OUSAX
Expense Ratio	0.48%
30 Day SEC Yield ¹	1.67% (as of 6/30/2021)

1. The 30 day SEC yield is calculated with a standardized formula mandated by the SEC. The formula is based on maximum offering price per share and includes the effect of any fee waivers. Without waivers, yields would be reduced. A fund’s actual distribution rate will differ from the SEC yield and any income distributions from the fund may be higher or lower than the SEC yield. The 30 day SEC yield is as of the prior month end.

Market Data as of	07/27/2021
NAV Price	$43.46
NAV Price Change	-$0.04
Market Price	$43.46
Market Price Change	-$0.03
30 Day Median Bid/Ask Spread ²	0.05% (as of 07/27/2021)
Premium/Discount ³	0.00% (as of 07/27/2021)
Shares Outstanding	16,650,000.000
Volume	47,145
Total Net Assets	$723,606,554.11

2. The median bid-ask spread is calculated by identifying the national best bid and national best offer (NBBO) for each fund as of the end of each 10 second interval during each trading day of the last 30 calendar days and dividing the difference between each such bid and offer by the midpoint of the NBBO. The median of those values is identified and that value is expressed as a percentage rounded to the nearest hundredth.
3. The premium discount information represents the difference between the daily market price for shares of the Fund and the Fund’s reported Net Asset Value. The amount that the Fund’s market price is above the reported NAV is called the premium. The amount that the Fund’s market price is below the reported NAV is called the discount. The market price is determined using the midpoint between the highest bid and the lowest offer on the listing exchange, as of the time that the Fund’s NAV is calculated (usually 4:00 p.m. EST).

Please note that effective June 1, 2020 the target index for OUSA was changed from FTSE USA Qual/Vol/Yield Factor 5% Capped Index to O’Shares U.S. Quality Dividend Index. The new index provides greater emphasis on our principles of Quality. Information beginning June 1, 2020, including yield and holdings data, reflect the index change.

There are risks involved with investing, including possible loss of principal. Concentration in a particular industry or sector will subject the Funds to loss due to adverse occurrences that may affect that industry or sector. The Fund may use derivatives which may involve risks different from, or greater than, those associated with more traditional investments. The Fund’s emphasis on dividend-paying stocks involves the risk that such stocks may fall out of favor with investors and underperform the market. Also, a company may reduce or eliminate its dividend after the Fund’s purchase of such a company’s securities. See the prospectus for specific risks regarding the Fund.

Performance

MONTHLY PERFORMANCE (AS OF 6/30/2021)

	QTD	YTD	1 YR	3 YR	5 YR	SI
NAV	5.82%	10.58%	28.84%	13.73%	11.33%	11.74%
Market Value	5.77%	10.58%	28.96%	13.70%	11.36%	11.74%

QUARTERLY PERFORMANCE (AS OF 6/30/2021)

	QTD	YTD	1 YR	3 YR	5 YR	SI
NAV	5.82%	10.58%	28.84%	13.73%	11.33%	11.74%
Market Value	5.77%	10.58%	28.96%	13.70%	11.36%	11.74%

Performance data quoted represents past performance and is no guarantee of future results. Current performance may be lower or higher than the performance data quoted. Investment return and principal value will fluctuate so that an investor’s shares, when redeemed, may be worth more or less than original cost. Returns beyond 1 year are annualized.

Shares of the Funds are not individually redeemable and the owners of Shares may purchase or redeem Shares from each Fund in Creation Units only. The purchase and sale price of individual Shares trading on an Exchange may be below, at or above the most recently calculated NAV for such Shares.

Market Price returns are generally based on market value at 4:00PM Eastern time (when NAV is normally determined), and do not represent the returns you would receive if you traded shares at other times. Fund returns assume that dividends and capital gains distributions have been reinvested in the Fund at NAV. Some performance results reflect expense subsidies and waivers in effect during certain periods. Absent these waivers, results would have been less favorable.

Holdings

Name (As of 07/27/2021)	Ticker	Sector	Fund Weight	Quantity	CUSIP/ISIN
Microsoft Corp	MSFT US	Information Technology	5.771%	145,560.00	594918104
Home Depot Inc/The	HD US	Consumer Discretionary	4.964%	109,631.00	437076102
Johnson & Johnson	JNJ US	Health Care	4.862%	203,504.00	478160104
Procter & Gamble Co/The	PG US	Consumer Staples	3.818%	195,891.00	742718109
Merck & Co Inc	MRK US	Health Care	3.512%	326,026.00	58933Y105
Verizon Communications Inc	VZ US	Communication Services	3.347%	430,450.00	92343V104
Cisco Systems Inc/Delaware	CSCO US	Information Technology	3.279%	428,712.00	17275R102
Apple Inc	AAPL US	Information Technology	3.230%	159,051.00	037833100
Pfizer Inc	PFE US	Health Care	3.179%	545,692.00	717081103
UnitedHealth Group Inc	UNH US	Health Care	2.672%	46,512.00	91324P102
Eli Lilly & Co	LLY US	Health Care	2.519%	74,727.00	532457108
Honeywell International Inc	HON US	Industrials	2.474%	77,602.00	438516106
3M Co	MMM US	Industrials	2.219%	79,982.00	88579Y101
Amgen Inc	AMGN US	Health Care	2.218%	65,517.00	031162100
Coca-Cola Co/The	KO US	Consumer Staples	2.164%	273,145.00	191216100
PepsiCo Inc	PEP US	Consumer Staples	2.148%	98,277.00	713448108
Texas Instruments Inc	TXN US	Information Technology	2.135%	83,330.00	882508104
Lockheed Martin Corp	LMT US	Industrials	2.118%	40,853.00	539830109
Comcast Corp	CMCSA US	Communication Services	2.087%	257,549.00	20030N101
McDonald's Corp	MCD US	Consumer Discretionary	1.841%	53,998.00	580135101
Oracle Corp	ORCL US	Information Technology	1.494%	122,941.00	68389X105
S&P Global Inc	SPGI US	Financials	1.489%	26,061.00	78409V104
Visa Inc	V US	Information Technology	1.450%	41,775.00	92826C839
Intel Corp	INTC US	Information Technology	1.369%	186,082.00	458140100
Accenture PLC	ACN US	Information Technology	1.358%	30,685.00	G1151C101
Marsh & McLennan Cos Inc	MMC US	Financials	1.286%	63,342.00	571748102
Philip Morris International In	PM US	Consumer Staples	1.266%	91,610.00	718172109
United Parcel Service Inc	UPS US	Industrials	1.259%	46,599.00	911312106
Walmart Inc	WMT US	Consumer Staples	1.248%	63,242.00	931142103
NextEra Energy Inc	NEE US	Utilities	1.185%	109,953.00	65339F101
Illinois Tool Works Inc	ITW US	Industrials	1.106%	35,083.00	452308109
Medtronic PLC	MDT US	Health Care	1.091%	60,563.00	G5960L103
Costco Wholesale Corp	COST US	Consumer Staples	1.073%	18,282.00	22160K105
Union Pacific Corp	UNP US	Industrials	1.028%	34,072.00	907818108
Colgate-Palmolive Co	CL US	Consumer Staples	0.933%	80,338.00	194162103
AT&T Inc	T US	Communication Services	0.825%	211,492.00	00206R102
AbbVie Inc	ABBV US	Health Care	0.790%	48,410.00	00287Y109
T Rowe Price Group Inc	TROW US	Financials	0.785%	27,883.00	74144T108
Starbucks Corp	SBUX US	Consumer Discretionary	0.732%	41,982.00	855244109
JPMorgan Chase & Co	JPM US	Financials	0.697%	33,257.00	46625H100
Kimberly-Clark Corp	KMB US	Consumer Staples	0.691%	36,659.00	494368103
Allstate Corp/The	ALL US	Financials	0.671%	36,909.00	020002101
Lowe's Cos Inc	LOW US	Consumer Discretionary	0.663%	24,763.00	548661107
NIKE Inc	NKE US	Consumer Discretionary	0.652%	28,610.00	654106103
Northrop Grumman Corp	NOC US	Industrials	0.629%	12,545.00	666807102
Aon PLC	AON US	Financials	0.600%	16,712.00	G0403H108
Waste Management Inc	WM US	Industrials	0.551%	27,097.00	94106L109
Target Corp	TGT US	Consumer Discretionary	0.545%	15,234.00	87612E106
Mastercard Inc	MA US	Information Technology	0.481%	8,904.00	57636Q104
Moody's Corp	MCO US	Financials	0.478%	9,073.00	615369105
Abbott Laboratories	ABT US	Health Care	0.453%	27,325.00	002824100
Automatic Data Processing Inc	ADP US	Information Technology	0.429%	14,915.00	053015103
General Dynamics Corp	GD US	Industrials	0.411%	15,322.00	369550108
Mondelez International Inc	MDLZ US	Consumer Staples	0.406%	45,008.00	609207105
WEC Energy Group Inc	WEC US	Utilities	0.391%	29,259.00	92939U106
MSCI Inc	MSCI US	Financials	0.389%	4,807.00	55354G100
Fastenal Co	FAST US	Industrials	0.370%	49,216.00	311900104
CVS Health Corp	CVS US	Health Care	0.360%	31,064.00	126650100
CME Group Inc	CME US	Financials	0.353%	12,023.00	12572Q105
Expeditors International of Wa	EXPD US	Industrials	0.348%	19,909.00	302130109
International Business Machine	IBM US	Information Technology	0.340%	17,215.00	459200101
Paychex Inc	PAYX US	Information Technology	0.302%	19,301.00	704326107
Clorox Co/The	CLX US	Consumer Staples	0.301%	11,915.00	189054109
eBay Inc	EBAY US	Consumer Discretionary	0.294%	29,357.00	278642103
Yum! Brands Inc	YUM US	Consumer Discretionary	0.273%	15,706.00	988498101
Intuit Inc	INTU US	Information Technology	0.273%	3,767.00	461202103
General Mills Inc	GIS US	Consumer Staples	0.238%	28,858.00	370334104
Garmin Ltd	GRMN US	Consumer Discretionary	0.226%	10,728.00	H2906T109
Hershey Co/The	HSY US	Consumer Staples	0.225%	9,068.00	427866108
Hormel Foods Corp	HRL US	Consumer Staples	0.223%	33,739.00	440452100
Dollar General Corp	DG US	Consumer Discretionary	0.223%	7,017.00	256677105
Emerson Electric Co	EMR US	Industrials	0.216%	15,905.00	291011104
Trane Technologies PLC	TT US	Industrials	0.209%	7,524.00	G8994E103
Stryker Corp	SYK US	Health Care	0.201%	5,409.00	863667101
Motorola Solutions Inc	MSI US	Information Technology	0.198%	6,452.00	620076307
Rockwell Automation Inc	ROK US	Industrials	0.192%	4,720.00	773903109
Norfolk Southern Corp	NSC US	Industrials	0.186%	5,110.00	655844108
CSX Corp	CSX US	Industrials	0.182%	40,642.00	126408103
Zoetis Inc	ZTS US	Health Care	0.177%	6,336.00	98978V103
IDEX Corp	IEX US	Industrials	0.165%	5,268.00	45167R104
Cummins Inc	CMI US	Industrials	0.164%	5,082.00	231021106
Anthem Inc	ANTM US	Health Care	0.161%	3,040.00	036752103
L3Harris Technologies Inc	LHX US	Industrials	0.159%	5,050.00	502431109
Cintas Corp	CTAS US	Industrials	0.158%	2,940.00	172908105
Cognizant Technology Solutions	CTSH US	Information Technology	0.153%	16,001.00	192446102
Cerner Corp	CERN US	Health Care	0.145%	13,179.00	156782104
Amphenol Corp	APH US	Information Technology	0.142%	14,622.00	032095101
CH Robinson Worldwide Inc	CHRW US	Industrials	0.140%	11,096.00	12541W209
Brown-Forman Corp	BF/B US	Consumer Staples	0.129%	12,854.00	115637209
Broadcom Inc	AVGO US	Information Technology	0.126%	1,909.00	11135F101
Church & Dwight Co Inc	CHD US	Consumer Staples	0.124%	10,333.00	171340102
PACCAR Inc	PCAR US	Industrials	0.121%	10,332.00	693718108
Maxim Integrated Products Inc	MXIM US	Information Technology	0.116%	8,642.00	57772K101
Analog Devices Inc	ADI US	Information Technology	0.109%	4,863.00	032654105
Amdocs Ltd	DOX US	Information Technology	0.099%	9,282.00	G02602103
Broadridge Financial Solutions	BR US	Information Technology	0.094%	3,956.00	11133T103
Kellogg Co	K US	Consumer Staples	0.081%	9,210.00	487836108
Citrix Systems Inc	CTXS US	Information Technology	0.070%	4,431.00	177376100
Jack Henry & Associates Inc	JKHY US	Information Technology	0.065%	2,661.00	426281101
Western Union Co/The	WU US	Information Technology	0.064%	19,932.00	959802109
USD CURNCY	USD CURNCY		0.044%	317,761.95

Holdings subject to change.

Sector Allocation

AS OF 6/30/2021

Sector	Weight
Information Technology	22.93%
Health Care	22.23%
Consumer Staples	14.98%
Industrials	14.76%
Consumer Discretionary	10.29%
Financials	6.79%
Communication Services	6.42%
Utilities	1.52%
Cash	0.08%

Distributions

Ex-Dividend	Record	Payable	Distribution Per Share
06/29/2021	06/30/2021	07/02/2021	0.061743
05/27/2021	05/28/2021	06/02/2021	0.050730
04/29/2021	04/30/2021	05/04/2021	0.065399
03/29/2021	03/30/2021	04/01/2021	0.066479
02/25/2021	02/26/2021	03/02/2021	0.046043
01/28/2021	01/29/2021	02/02/2021	0.046163
12/29/2020	12/30/2020	01/04/2021	0.088403
11/27/2020	11/30/2020	12/02/2020	0.051062
10/29/2020	10/30/2020	11/03/2020	0.059382
09/29/2020	09/30/2020	10/02/2020	0.060621
08/28/2020	08/31/2020	09/02/2020	0.038724
07/30/2020	07/31/2020	08/04/2020	0.020381
06/29/2020	06/30/2020	07/02/2020	0.070818
05/28/2020	05/29/2020	06/02/2020	0.093515
04/29/2020	04/30/2020	05/04/2020	0.067912
03/27/2020	03/30/2020	04/01/2020	0.092086
02/25/2020	02/26/2020	02/28/2020	0.090179
01/29/2020	01/31/2020	02/04/2020	0.043146
12/27/2019	12/30/2019	01/03/2020	0.106313
11/27/2019	11/29/2019	12/03/2019	0.085099
10/30/2019	10/31/2019	11/04/2019	0.063451
9/27/2019	9/30/2019	10/2/2019	0.081163
8/28/2019	8/30/2019	9/4/2019	0.083196
7/30/2019	7/31/2019	8/2/2019	0.059927
6/27/2019	6/28/2019	7/2/2019	0.052483
5/30/2019	5/31/2019	6/4/2019	0.049536
4/26/2019	4/30/2019	5/2/2019	0.069547
3/28/2019	3/29/2019	4/2/2019	0.070789
2/27/2019	2/28/2019	3/4/2019	0.080658
1/30/2019	1/31/2019	2/4/2019	0.042709
12/27/2018	12/28/2018	1/3/2019	0.115449
11/29/2018	11/30/2018	12/4/2018	0.077441
10/30/2018	10/31/2018	11/2/2018	0.081878
9/27/2018	9/28/2018	10/2/2018	0.107168
8/29/2018	8/31/2018	9/5/2018	0.0759
7/30/2018	7/31/2018	8/2/2018	0.062
6/26/2018	6/27/2018	6/29/2018	0.072
5/30/2018	5/31/2018	6/4/2018	0.072
4/27/2018	4/30/2018	5/2/2018	0.070
3/27/2018	3/29/2018	4/3/2018	0.079
2/27/2018	2/28/2018	3/2/2018	0.061
1/30/2018	1/31/2018	2/2/2018	0.046
12/22/2017	12/26/2017	12/29/2017	0.144
11/15/2017	11/16/2017	11/21/2017	0.069
10/16/2017	10/17/2017	10/20/2017	0.070
9/15/2017	9/18/2017	9/21/2017	0.060
8/15/2017	8/17/2017	8/21/2017	0.026
7/17/2017	7/19/2017	7/21/2017	0.029
6/15/2017	6/19/2017	6/21/2017	0.065
5/12/2017	5/17/2017	5/19/2017	0.019
4/17/2017	4/19/2017	4/21/2017	0.060
3/15/2017	3/17/2017	3/21/2017	0.074
2/15/2017	2/17/2017	2/22/2017	0.043
1/17/2017	1/19/2017	1/23/2017	0.026
12/23/2016	12/28/2016	12/30/2016	0.093
11/15/2016	11/17/2016	11/21/2016	0.067
10/17/2016	10/19/2016	10/21/2016	0.066
9/15/2016	9/19/2016	9/21/2016	0.061
8/15/2016	8/17/2016	8/19/2016	0.026
7/15/2016	7/19/2016	7/21/2016	0.040
6/15/2016	6/17/2016	6/21/2016	0.099
5/16/2016	5/18/2016	5/20/2016	0.018
4/15/2016	4/19/2016	4/21/2016	0.047
3/15/2016	3/17/2016	3/21/2016	0.073
2/16/2016	2/18/2016	2/22/2016	0.022
1/15/2016	1/20/2016	1/22/2016	0.024
12/24/2015	12/29/2015	12/31/2015	0.091
11/16/2015	11/18/2015	11/20/2015	0.049
10/15/2015	10/19/2015	10/21/2015	0.059
9/15/2015	9/17/2015	9/21/2015	0.069
8/17/2015	8/19/2015	8/21/2015	0.024

Premium Discount

Date	Days	< -0.5%	-0.5% to 0%	0	0% to 0.5%	> 0.5%
2021	124	0	29	0	95	0
6/30/2021	63	0	16	0	47	0
3/31/2021	61	0	13	0	48	0
2020	253	3	101	0	148	3
2019	252	0	112	0	139	1
2018	251	1	130	1	118	1

The above line chart and table present information about the difference between the daily market price for shares of the Fund and the Fund’s reported Net Asset Value. The amount that the Fund’s market price is above the reported NAV is called the premium. The amount that the Fund’s market price is below the reported NAV is called the discount. The market price is determined using the midpoint between the highest bid and the lowest offer on the listing exchange, as of the time that the Fund’s NAV is calculated (usually 4:00 p.m. EST). The vertical axis of the line chart shows the premium or discount expressed as a percentage of NAV. The horizontal axis indicates the date at which the premium discount occurred. The table indicates the number of trading days in the respective period in which the Fund traded within the premium/discount percentage range as indicated.

Investor Resources

Investor Materials
Fact Sheet
Prospectus
Summary Prospectus
SAI
Semi-Annual Report
Annual Report
Fiscal Year Q1 Portfolio Holdings
Fiscal Year Q3 Portfolio Holdings

OUSA Research & News

O’Shares Strategy Series | U.S. Large Caps

June 16, 2021

Leverage, Key Performance Indicator?

June 3, 2021

The Power of Quality. ROA, Key Performance Indicator?

June 2, 2021

S&P 500 Sector Scatterplot: Risk vs. Return

February 1, 2021

Best Performing and Riskiest Sectors, Past 10-Years

OUSA News

July 8, 2021

What’s Better Than Dividends? Growing Dividends

July 6, 2021

ETF.com | 3 Questions With O’Shares: ETFs For The Long Term

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Before you invest in O’Shares ETF Investments Funds, please refer to the prospectus for important information about the investment objectives, risks, charges and expenses. To obtain a prospectus containing this and other important information, please view or download a prospectus. Read the prospectus carefully before you invest. There are risks involved with investing including the possible loss of principal.

Concentration in a particular industry or sector will subject the Funds to loss due to adverse occurrences that may affect that industry or sector. The Funds may use derivatives which may involve risks different from, or greater than, those associated with more traditional investments. A Fund's emphasis on dividend-paying stocks involves the risk that such stocks may fall out of favor with investors and underperform the market. Also, a company may reduce or eliminate its dividend after the Fund's purchase of such a company's securities. Returns on investments in foreign securities could be more volatile than, or trail the returns on, investments in U.S. securities. Exposures to foreign securities entail special risks, including political, diplomatic, economic, foreign market and trading risks. In addition, a Fund's investments in securities denominated in other currencies could decline due to changes in local currency relative to the value of the U.S. dollar, which may affect the Fund's returns. See the prospectus for specific risks regarding the Funds.
The securities of small capitalization companies are often more volatile and less liquid than the stocks of larger companies and may be more affected than other types of securities during market downturns. Compared to larger companies, small capitalization companies may have a shorter history of operations, and may have limited product lines, markets or financial resources.
Companies involved with Internet technology and e-commerce are exposed to risks associated with rapid advances in technology, obsolescence of current products and services, the finite life of patents and the constant threat of global competition and substitutes.
Past performance does not guarantee future results. Shares are bought and sold at market price (not NAV), are not individually redeemable, and owners of Shares may acquire those Shares from the Funds and tender those shares for redemption to the Funds in Creation Unit aggregations only, consisting of 50,000 Shares. Brokerage commissions will reduce returns. The market price of Shares can be at, below, or above NAV. Market Price returns are based upon the midpoint of the bid/ask spread at 4:00 PM Eastern time (when NAV is normally determined), and do not represent the returns you would receive if you traded Shares at other times.

O’Shares ETF Investments Funds are distributed by Foreside Fund Services, LLC. Foreside Fund Services, LLC is not affiliated with O’Shares ETF Investments or any of its affiliates.