OUSA

O’Shares U.S. Quality Dividend ETF

100 Quality stocks, you could own forever.

Get the latest research for equity income strategies and dividend growth trends.

“See what’s in my portfolio, and why I’m investing less in bonds, and more OUSA.”
(Kevin O’Leary, Chairman)

Get access:
• Latest research and data on income and growth investing
• Market commentary
• Strategy discussion webcasts with Kevin O’Leary and guests

Dividend Growth

Dividend paying stocks with the strongest dividend growth rates have outperformed. A company’s ability to grow dividends in often an indicator of financial health.

Profitability

Top quartile companies by return on assets (ROA) have outperformed those in the bottom quartile historically.

Strong Balance Sheets

Companies with strong cash flows* and responsible use of debt (leverage) have historically outperformed across most sectors.

Dividend Coverage

Strong dividend coverage may increase the likelihood of dividend growth while potentially reducing the risk of dividend cuts or suspensions.

Less Risk?

Focus on volatility may potentially reduce severity of portfolio drawdowns during market stress events.

Quality Dividend Income

Focus on dividend yield from quality companies to potentially provide a source of stable or growing equity income.

Source: O’Shares ETFs, Research Report: Dividend Watch Equity Income Trends & Strategies | Q2 2021 and Bloomberg Finance L.P. Data as of 11/30/2021. *Free Cash Flow – FCF: A measure of financial performance calculated as operating cash flow minus capital expenditures.

OUSA

O’Shares U.S. Quality Dividend ETF

100 Quality stocks, you could own forever.

Dividend Growth

Dividend paying stocks with the strongest dividend growth rates have outperformed. A company’s ability to grow dividends in often an indicator of financial health.

Profitability

Top quartile companies by return on assets (ROA) have outperformed those in the bottom quartile historically.

Strong balance sheets

Companies with strong cash flows* and responsible use of debt (leverage) have historically outperformed across most sectors.

Dividend Coverage

Strong dividend coverage may increase the likelihood of dividend growth while potentially reducing the risk of dividend cuts or suspensions.

Less Risk?

Focus on volatility may potentially reduce severity of portfolio drawdowns during market stress events.

Quality Dividend Income

Focus on dividend yield from quality companies to potentially provide a source of stable or growing equity income.

Get the latest research for equity income strategies and dividend growth trends.

“See what’s in my portfolio, and why I’m investing less in bonds, and more OUSA.”
(Kevin O’Leary, Chairman)

Get access:
• Latest research and data on income and growth investing
• Market commentary
• Strategy discussion webcasts with Kevin O’Leary and guests

Source: O’Shares ETFs, Research Report: Dividend Watch Equity Income Trends & Strategies | Q2 2021 and Bloomberg Finance L.P. Data as of 11/30/2021. *Free Cash Flow – FCF: A measure of financial performance calculated as operating cash flow minus capital expenditures.

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 
SymbolOUSA
Listing ExchangeCboe
Inception Date7/14/2015
CUSIP67110P407
Target Index ProviderO'Shares
Target Index SymbolOUSAX
Expense Ratio0.48%
30 Day SEC Yield11.51%
(as of 12/31/2021)
Market Data as of01/28/2022
NAV Price$44.09
NAV Price Change$0.90
Market Price$44.09
Market Price Change$0.89
30 Day Median Bid/Ask Spread20.04% (as of 01/27/2022)
Premium/Discount30.03% (as of 01/27/2022)
Shares Outstanding18,350,000.000
Volume297,341
Total Net Assets$809,073,036.08
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.
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).

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 12/31/2021)
 QTDYTD1 YR3 YR5 YRSI
NAV12.27%23.65%23.65%18.29%13.77%12.71%
Market Value12.35%23.68%23.68%18.30%13.75%12.72%
QUARTERLY PERFORMANCE (AS OF 12/31/2021)
 QTDYTD1 YR3 YR5 YRSI
NAV12.27%23.65%23.65%18.29%13.77%12.71%
Market Value12.35%23.68%23.68%18.30%13.75%12.72%

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 1/28/2022)
TickerSectorFund WeightQuantityCUSIP/ISIN
PROCTER & GAMBLE CO/THEPGConsumer Staples5.14%259300US7427181091
JOHNSON & JOHNSONJNJHealth Care5.11%240537US4781601046
MICROSOFT CORPMSFTInformation Technology4.70%123366US5949181045
HOME DEPOT INC/THEHDConsumer Discretionary4.53%99945US4370761029
VERIZON COMMUNICATIONS INCVZCommunication Services4.37%668034US92343V1044
PFIZER INCPFEHealth Care3.89%578867US7170811035
APPLE INCAAPLInformation Technology3.79%179940US0378331005
MCDONALD'S CORPMCDConsumer Discretionary3.00%94811US5801351017
LOCKHEED MARTIN CORPLMTIndustrials2.88%59239US5398301094
COMCAST CORPCMCSACommunication Services2.49%405022US20030N1019
UNITEDHEALTH GROUP INCUNHHealth Care2.34%40646US91324P1021
CISCO SYSTEMS INC/DELAWARECSCOInformation Technology2.27%330188US17275R1023
TEXAS INSTRUMENTS INCTXNInformation Technology2.09%95348US8825081040
ABBOTT LABORATORIESABTHealth Care2.07%133444US0028241000
3M COMMMIndustrials1.96%97142US88579Y1010
ELI LILLY & COLLYHealth Care1.87%61721US5324571083
AMGEN INCAMGNHealth Care1.76%62089US0311621009
COCA-COLA CO/THEKOConsumer Staples1.75%232601US1912161007
MERCK & CO INCMRKHealth Care1.69%169449US58933Y1055
PEPSICO INCPEPConsumer Staples1.68%78796US7134481081
ILLINOIS TOOL WORKS INCITWIndustrials1.66%57925US4523081093
BLACKSTONE GROUP INC/THEBXFinancials1.65%107391US09260D1072
ACCENTURE PLCACNInformation Technology1.55%36492IE00B4BNMY34
VISA INCVInformation Technology1.44%50984US92826C8394
PHILIP MORRIS INTERNATIONAL INCPMConsumer Staples1.36%106152US7181721090
UNION PACIFIC CORPUNPIndustrials1.35%44469US9078181081
UNITED PARCEL SERVICE INCUPSIndustrials1.30%52862US9113121068
HONEYWELL INTERNATIONAL INCHONIndustrials1.26%50587US4385161066
S&P GLOBAL INCSPGIFinancials1.23%24517US78409V1044
STARBUCKS CORPSBUXConsumer Discretionary1.14%94987US8552441094
COSTCO WHOLESALE CORPCOSTConsumer Staples1.03%16885US22160K1051
GILEAD SCIENCES INCGILDHealth Care1.02%119359US3755581036
COLGATE-PALMOLIVE COCLConsumer Staples0.98%95530US1941621039
NORTHROP GRUMMAN CORPNOCIndustrials0.98%20759US6668071029
T ROWE PRICE GROUP INCTROWFinancials0.98%52966US74144T1088
ABBVIE INCABBVHealth Care0.89%52045US00287Y1091
LOWE'S COS INCLOWConsumer Discretionary0.88%30209US5486611073
ORACLE CORPORCLInformation Technology0.83%83796US68389X1054
NIKE INCNKEConsumer Discretionary0.74%41092US6541061031
ALTRIA GROUP INCMOConsumer Staples0.66%105408US02209S1033
MONDELEZ INTERNATIONAL INCMDLZConsumer Staples0.64%77870US6092071058
WALMART INCWMTConsumer Staples0.63%37116US9311421039
TARGET CORPTGTConsumer Discretionary0.61%22626US87612E1064
ALLSTATE CORP/THEALLFinancials0.60%40128US0200021014
MEDTRONIC PLCMDTHealth Care0.55%43041IE00BTN1Y115
INTEL CORPINTCInformation Technology0.55%92613US4581401001
MARSH & MCLENNAN COS INCMMCFinancials0.53%28414US5717481023
MASTERCARD INCMAInformation Technology0.50%10540US57636Q1040
FASTENAL COFASTIndustrials0.49%71476US3119001044
KIMBERLY-CLARK CORPKMBConsumer Staples0.49%28326US4943681035
CINTAS CORPCTASIndustrials0.44%9249US1729081059
ACTIVISION BLIZZARD INCATVICommunication Services0.40%41207US00507V1098
TJX COS INC/THETJXConsumer Discretionary0.40%45813US8725401090
YUM| BRANDS INCYUMConsumer Discretionary0.39%25556US9884981013
WASTE MANAGEMENT INCWMIndustrials0.38%20901US94106L1098
CHUBB LTDCBFinancials0.35%14574CH0044328745
DOLLAR GENERAL CORPDGConsumer Discretionary0.35%13800US2566771059
HERSHEY CO/THEHSYConsumer Staples0.34%14092US4278661081
MOODY'S CORPMCOFinancials0.34%8079US6153691059
NORFOLK SOUTHERN CORPNSCIndustrials0.34%10193US6558441084
L3HARRIS TECHNOLOGIES INCLHXIndustrials0.32%11680US5024311095
ESTEE LAUDER COS INC/THEELConsumer Staples0.32%8412US5184391044
EXPEDITORS INTERNATIONAL OF WASHINGTON INCEXPDIndustrials0.30%21481US3021301094
JPMORGAN CHASE & COJPMFinancials0.30%16497US46625H1005
GARMIN LTDGRMNConsumer Discretionary0.29%19450CH0114405324
GENERAL DYNAMICS CORPGDIndustrials0.29%11212US3695501086
TRANE TECHNOLOGIES PLCTTIndustrials0.28%12929IE00BK9ZQ967
CSX CORPCSXIndustrials0.27%63838US1264081035
CUMMINS INCCMIIndustrials0.27%9955US2310211063
GENERAL MILLS INCGISConsumer Staples0.26%29996US3703341046
CERNER CORPCERNHealth Care0.25%22479US1567821046
QUEST DIAGNOSTICS INCDGXHealth Care0.25%15272US74834L1008
CLOROX CO/THECLXConsumer Staples0.24%11865US1890541097
EMERSON ELECTRIC COEMRIndustrials0.24%21737US2910111044
AON PLCAONFinancials0.23%6974IE00BLP1HW54
HORMEL FOODS CORPHRLConsumer Staples0.23%38604US4404521001
PAYCHEX INCPAYXInformation Technology0.23%16112US7043261079
AUTOMATIC DATA PROCESSING INCADPInformation Technology0.22%9079US0530151036
ROCKWELL AUTOMATION INCROKIndustrials0.22%6329US7739031091
THERMO FISHER SCIENTIFIC INCTMOHealth Care0.22%3158US8835561023
CHURCH & DWIGHT CO INCCHDConsumer Staples0.21%16775US1713401024
BLACKROCK INCBLKFinancials0.20%1960US09247X1019
COGNIZANT TECHNOLOGY SOLUTIONS CORPCTSHInformation Technology0.18%17012US1924461023
ANALOG DEVICES INCADIInformation Technology0.17%8788US0326541051
EBAY INCEBAYConsumer Discretionary0.17%23791US2786421030
BAXTER INTERNATIONAL INCBAXHealth Care0.16%15199US0718131099
BECTON DICKINSON AND COBDXHealth Care0.15%4671US0758871091
MSCI INCMSCIFinancials0.15%2403US55354G1004
MOTOROLA SOLUTIONS INCMSIInformation Technology0.15%5289US6200763075
BROADCOM INCAVGOInformation Technology0.14%2071US11135F1012
INTERNATIONAL BUSINESS MACHINES CORPIBMInformation Technology0.14%8586US4592001014
STRYKER CORPSYKHealth Care0.14%4701US8636671013
AMPHENOL CORPAPHInformation Technology0.13%13792US0320951017
ARCHER-DANIELS-MIDLAND COADMConsumer Staples0.13%13723US0394831020
AGILENT TECHNOLOGIES INCAHealth Care0.12%6853US00846U1016
INTUIT INCINTUInformation Technology0.12%1852US4612021034
QUALCOMM INCQCOMInformation Technology0.12%5660US7475251036
TE CONNECTIVITY LTDTELInformation Technology0.11%6379CH0102993182
CASH0.09%695857.77
BROADRIDGE FINANCIAL SOLUTIONS INCBRInformation Technology0.06%3356US11133T1034
Holdings subject to change.

Sector Allocation

AS OF 12/31/2021
SectorWeight
Health Care22.72%
Information Technology20.12%
Consumer Staples15.34%
Industrials14.93%
Consumer Discretionary13.10%
Financials6.97%
Communication Services6.82%
Cash0.01%

Distributions

Ex-DividendRecordPayableDistribution Per Share
12/29/202112/30/202101/03/20220.075789
11/29/202111/30/202112/02/20210.056461
10/28/202110/29/202111/02/20210.062409
09/29/202109/30/202110/04/20210.058105
08/30/202108/31/202109/02/20210.069436
07/29/202107/30/202108/03/20210.069806
06/29/202106/30/202107/02/20210.061743
05/27/202105/28/202106/02/20210.050730
04/29/202104/30/202105/04/20210.065399
03/29/202103/30/202104/01/20210.066479
02/25/202102/26/202103/02/20210.046043
01/28/202101/29/202102/02/20210.046163
12/29/202012/30/202001/04/20210.088403
11/27/202011/30/202012/02/20200.051062
10/29/202010/30/202011/03/20200.059382
09/29/202009/30/202010/02/20200.060621
08/28/202008/31/202009/02/20200.038724
07/30/202007/31/202008/04/20200.020381
06/29/202006/30/202007/02/20200.070818
05/28/202005/29/202006/02/20200.093515
04/29/202004/30/202005/04/20200.067912
03/27/202003/30/202004/01/20200.092086
02/25/202002/26/202002/28/20200.090179
01/29/202001/31/202002/04/20200.043146
12/27/201912/30/201901/03/20200.106313
11/27/201911/29/201912/03/20190.085099
10/30/201910/31/201911/04/20190.063451
9/27/20199/30/201910/2/20190.081163
8/28/20198/30/20199/4/20190.083196
7/30/20197/31/20198/2/20190.059927
6/27/20196/28/20197/2/20190.052483
5/30/20195/31/20196/4/20190.049536
4/26/20194/30/20195/2/20190.069547
3/28/20193/29/20194/2/20190.070789
2/27/20192/28/20193/4/20190.080658
1/30/20191/31/20192/4/20190.042709
12/27/201812/28/20181/3/20190.115449
11/29/201811/30/201812/4/20180.077441
10/30/201810/31/201811/2/20180.081878
9/27/20189/28/201810/2/20180.107168
8/29/20188/31/20189/5/2018 0.0759
7/30/20187/31/20188/2/20180.062
6/26/20186/27/20186/29/20180.072
5/30/20185/31/20186/4/20180.072
4/27/20184/30/20185/2/20180.070
3/27/20183/29/20184/3/20180.079
2/27/20182/28/20183/2/20180.061
1/30/20181/31/20182/2/20180.046
12/22/201712/26/201712/29/20170.144
11/15/201711/16/201711/21/20170.069
10/16/201710/17/201710/20/20170.070
9/15/20179/18/20179/21/20170.060
8/15/20178/17/20178/21/20170.026
7/17/20177/19/20177/21/20170.029
6/15/20176/19/20176/21/20170.065
5/12/20175/17/20175/19/20170.019
4/17/20174/19/20174/21/20170.060
3/15/20173/17/20173/21/20170.074
2/15/20172/17/20172/22/20170.043
1/17/20171/19/20171/23/20170.026
12/23/201612/28/201612/30/20160.093
11/15/201611/17/201611/21/20160.067
10/17/201610/19/201610/21/20160.066
9/15/20169/19/20169/21/20160.061
8/15/20168/17/20168/19/20160.026
7/15/20167/19/20167/21/20160.040
6/15/20166/17/20166/21/20160.099
5/16/20165/18/20165/20/20160.018
4/15/20164/19/20164/21/20160.047
3/15/20163/17/20163/21/20160.073
2/16/20162/18/20162/22/20160.022
1/15/20161/20/20161/22/20160.024
12/24/201512/29/201512/31/20150.091
11/16/201511/18/201511/20/20150.049
10/15/201510/19/201510/21/20150.059
9/15/20159/17/20159/21/20150.069
8/17/20158/19/20158/21/20150.024

Premium Discount

DateDays< -0.5%-0.5% to 0%00% to 0.5%> 0.5%
202125207421760
     12/31/2021 640212410
     9/30/2021 640240400
     6/30/2021 630160470
     3/31/2021610130480
2020253310101483
2019252011201391
2018251113011181
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
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.

OUSA Research & News

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