OUSM

O’Shares U.S. Small Cap Quality Dividend ETF

Why Invest in OUSM

  • Profitable small-caps: 9.2% ROA
  • Less risk than small-cap Value?

Seeks small-cap companies with strong profitability, balance sheets and dividend growth, a potentially lower risk way to invest in small-caps.

ROA: Portfolio weighted average return on assets measured as trailing 12M Net Income / Average Total Assets. Data as of 6/30/2021.

Why OUSM for Small Cap Quality Dividends?

  • Quality Advantages. Over 100 small cap stocks selected for quality, strong balance sheets and profitability.
  • Performance. Seeks less volatile approach to invest in small cap companies.
  • Use as Core Holding. Attractive long-term quality approach for investing in small caps, seeking income and less risk potential.

Fund Investment Objective

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

The Target Index is designed to reflect the performance of publicly-listed small-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 quality and low volatility factors are designed to reduce exposure to high dividend equities that have experienced large price declines, as may occur with some dividend investing strategies.

Fund & Market Data

Profile 
SymbolOUSM
Listing ExchangeCboe
Inception Date12/30/2016
CUSIP67110P100
Target Index ProviderO'Shares
Target Index SymbolOUSMX
Expense Ratio0.48%
30 Day SEC Yield11.63%
(as of 9/30/2021)
Market Data as of10/19/2021
NAV Price$36.19
NAV Price Change$0.14
Market Price$36.18
Market Price Change$0.13
30 Day Median Bid/Ask Spread20.09% (as of 10/18/2021)
Premium/Discount30.00% (as of 10/18/2021)
Shares Outstanding4,304,000.000
Volume9,198
Total Net Assets$155,750,513.93
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 OUSM was changed from FTSE USA Small Cap ex Real Estate 2Qual/Vol/Yield 3% Capped Factor Index to O’Shares U.S. Small-Cap 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.

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.

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 9/30/2021)
 QTDYTD1 YR3 YRSI
NAV-0.84%12.64%34.40%9.16%9.41%
Market Value-0.84%12.60%34.54%9.17%9.42%
QUARTERLY PERFORMANCE (AS OF 9/30/2021)
 QTDYTD1 YR3 YRSI
NAV-0.84%12.64%34.40%9.16%9.41%
Market Value-0.84%12.60%34.54%9.17%9.42%

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.

Holdings

Name
(As of 10/19/2021)
TickerSectorFund WeightQuantityCUSIP/ISIN
GENTEX CORPGNTXConsumer Discretionary2.31%98533US3719011096
HOULIHAN LOKEY INCHLIFinancials2.30%34140US4415931009
ERIE INDEMNITY COERIEFinancials2.21%17478US29530P1021
CARLYLE GROUP INC/THECGFinancials2.13%62598US14316J1088
INTERPUBLIC GROUP OF COS INC/THEIPGCommunication Services2.05%83494US4606901001
SEI INVESTMENTS COSEICFinancials2.05%51109US7841171033
AMDOCS LTDDOXInformation Technology2.03%39529GB0022569080
PREMIER INCPINCHealth Care2.03%79191US74051N1028
ROBERT HALF INTERNATIONAL INCRHIIndustrials2.02%28787US7703231032
SNAP-ON INCSNAIndustrials2.02%13955US8330341012
CBOE GLOBAL MARKETS INCCBOEFinancials2.00%24734US12503M1080
WATSCO INCWSOIndustrials2.00%10883US9426222009
BUNGE LTDBGConsumer Staples1.99%35738BMG169621056
MAXIMUS INCMMSInformation Technology1.99%36494US5779331041
JUNIPER NETWORKS INCJNPRInformation Technology1.98%109247US48203R1041
JACK HENRY & ASSOCIATES INCJKHYInformation Technology1.97%17951US4262811015
SERVICE CORP INTERNATIONAL/USSCIConsumer Discretionary1.96%49220US8175651046
DOLBY LABORATORIES INCDLBInformation Technology1.93%32467US25659T1079
OLD REPUBLIC INTERNATIONAL CORPORIFinancials1.93%121223US6802231042
WESTERN UNION CO/THEWUInformation Technology1.87%144194US9598021098
GRACO INCGGGIndustrials1.85%39812US3841091040
TORO CO/THETTCIndustrials1.83%28742US8910921084
A O SMITH CORPAOSIndustrials1.82%43324US8318652091
LINCOLN ELECTRIC HOLDINGS INCLECOIndustrials1.79%19935US5339001068
ENCOMPASS HEALTH CORPEHCHealth Care1.67%38433US29261A1007
MOELIS & COMCFinancials1.52%33435US60786M1053
LAZARD LTDLAZFinancials1.43%43246BMG540501027
NATIONAL HEALTHCARE CORPNHCHealth Care1.43%31553US6359061008
DONALDSON CO INCDCIIndustrials1.34%35140US2576511099
UGI CORPUGIUtilities1.30%45402US9026811052
FLOWERS FOODS INCFLOConsumer Staples1.29%81064US3434981011
INGREDION INCINGRConsumer Staples1.16%18648US4571871023
LANCASTER COLONY CORPLANCConsumer Staples1.14%10392US5138471033
BORGWARNER INCBWAConsumer Discretionary1.10%37349US0997241064
WHIRLPOOL CORPWHRConsumer Discretionary1.09%8224US9633201069
MONOLITHIC POWER SYSTEMS INCMPWRInformation Technology1.07%3351US6098391054
GENPACT LTDGInformation Technology1.06%32490BMG3922B1072
H&R BLOCK INCHRBConsumer Discretionary1.06%67180US0936711052
EVERCORE INCEVRFinancials1.01%9937US29977A1051
SAFETY INSURANCE GROUP INCSAFTFinancials0.90%17692US78648T1007
ARTISAN PARTNERS ASSET MANAGEMENT INCAPAMFinancials0.89%28685US04316A1088
CDK GLOBAL INCCDKInformation Technology0.88%31168US12508E1010
RLI CORPRLIFinancials0.88%13078US7496071074
LEGGETT & PLATT INCLEGConsumer Discretionary0.85%28764US5246601075
MERCURY GENERAL CORPMCYFinancials0.85%24207US5894001008
CHEMED CORPCHEHealth Care0.83%2945US16359R1032
NEWS CORPNWSACommunication Services0.79%51770US65249B1098
MORNINGSTAR INCMORNFinancials0.75%4133US6177001095
BRADY CORPBRCIndustrials0.71%21693US1046741062
NATIONAL INSTRUMENTS CORPNATIInformation Technology0.71%26946US6365181022
BIO-TECHNE CORPTECHHealth Care0.66%2052US09073M1045
HILL-ROM HOLDINGS INCHRCHealth Care0.66%6765US4314751029
EXPONENT INCEXPOIndustrials0.64%9081US30214U1025
LANDSTAR SYSTEM INCLSTRIndustrials0.64%6029US5150981018
STEWART INFORMATION SERVICES CORPSTCFinancials0.63%14068US8603721015
LITTELFUSE INCLFUSInformation Technology0.60%3266US5370081045
JOHN WILEY & SONS INCJW/ACommunication Services0.58%17109US9682232064
AVNET INCAVTInformation Technology0.57%23184US0538071038
COHEN & STEERS INCCNSFinancials0.57%9920US19247A1007
MDU RESOURCES GROUP INCMDUUtilities0.56%28317US5526901096
HAMILTON LANE INCHLNEFinancials0.54%8883US4074971064
LAMB WESTON HOLDINGS INCLWConsumer Staples0.53%14824US5132721045
CABLE ONE INCCABOCommunication Services0.52%461US12685J1051
SCHNEIDER NATIONAL INCSNDRIndustrials0.52%33603US80689H1023
STURM RUGER & CO INCRGRConsumer Discretionary0.52%10157US8641591081
PINNACLE WEST CAPITAL CORPPNWUtilities0.48%11030US7234841010
CSG SYSTEMS INTERNATIONAL INCCSGSInformation Technology0.47%14734US1263491094
REYNOLDS CONSUMER PRODUCTS INCREYNConsumer Staples0.47%26052US76171L1061
WD-40 COWDFCConsumer Staples0.46%3139US9292361071
GRAHAM HOLDINGS COGHCConsumer Discretionary0.44%1208US3846371041
STANDARD MOTOR PRODUCTS INCSMPConsumer Discretionary0.44%14474US8536661056
CASEY'S GENERAL STORES INCCASYConsumer Staples0.42%3457US1475281036
FRANKLIN ELECTRIC CO INCFELEIndustrials0.41%7523US3535141028
IDACORP INCIDAUtilities0.41%6139US4511071064
OGE ENERGY CORPOGEUtilities0.41%19028US6708371033
POLARIS INCPIIConsumer Discretionary0.41%4820US7310681025
CARTER'S INCCRIConsumer Discretionary0.40%6232US1462291097
PROGRESS SOFTWARE CORPPRGSInformation Technology0.38%11758US7433121008
VISHAY INTERTECHNOLOGY INCVSHInformation Technology0.38%30532US9282981086
ITT INCITTIndustrials0.37%6113US45073V1089
LPL FINANCIAL HOLDINGS INCLPLAFinancials0.37%3294US50212V1008
OSHKOSH CORPOSKIndustrials0.36%5493US6882392011
SIMPSON MANUFACTURING CO INCSSDIndustrials0.35%4721US8290731053
COLUMBIA SPORTSWEAR COCOLMConsumer Discretionary0.34%5482US1985161066
ESSENTIAL UTILITIES INCWTRGUtilities0.34%11360US29670G1022
LEAR CORPLEAConsumer Discretionary0.34%3068US5218652049
NEW YORK TIMES CO/THENYTCommunication Services0.34%9726US6501111073
WERNER ENTERPRISES INCWERNIndustrials0.34%11518US9507551086
ACUSHNET HOLDINGS CORPGOLFConsumer Discretionary0.33%10681US0050981085
MURPHY USA INCMUSAConsumer Discretionary0.33%3043US6267551025
NATIONAL FUEL GAS CONFGUtilities0.32%8763US6361801011
MGIC INVESTMENT CORPMTGFinancials0.31%29442US5528481030
POWER INTEGRATIONS INCPOWIInformation Technology0.31%4907US7392761034
MDC HOLDINGS INCMDCConsumer Discretionary0.30%9488US5526761086
ONEMAIN HOLDINGS INCOMFFinancials0.30%7899US68268W1036
TOOTSIE ROLL INDUSTRIES INCTRConsumer Staples0.28%13513US8905161076
VECTOR GROUP LTDVGRConsumer Staples0.26%30558US92240M1080
UNIFIRST CORP/MAUNFIndustrials0.25%1818US9047081040
ENNIS INCEBFIndustrials0.24%19368US2933891028
NRG ENERGY INCNRGUtilities0.23%8809US6293775085
AMERICAN STATES WATER COAWRUtilities0.22%3910US0298991011
J & J SNACK FOODS CORPJJSFConsumer Staples0.22%2278US4660321096
MGE ENERGY INCMGEEUtilities0.22%4626US55277P1049
HAWAIIAN ELECTRIC INDUSTRIES INCHEUtilities0.21%7857US4198701009
SPIRE INCSRUtilities0.21%5278US84857L1017
HEALTHCARE SERVICES GROUP INCHCSGIndustrials0.20%13103US4219061086
ONE GAS INCOGSUtilities0.20%4730US68235P1084
OTTER TAIL CORPOTTRUtilities0.20%5374US6896481032
WEIS MARKETS INCWMKConsumer Staples0.20%5796US9488491047
SOUTHWEST GAS HOLDINGS INCSWXUtilities0.19%4243US8448951025
ALLETE INCALEUtilities0.17%4226US0185223007
BLACK HILLS CORPBKHUtilities0.16%3909US0921131092
PNM RESOURCES INCPNMUtilities0.16%4987US69349H1077
NEW JERSEY RESOURCES CORPNJRUtilities0.15%6096US6460251068
NORTHWESTERN CORPNWEUtilities0.15%3943US6680743050
CASH0.04%65218.65
Holdings subject to change.

Sector Allocation

AS OF 9/30/2021
SectorWeight
Financials22.74%
Industrials19.53%
Information Technology18.41%
Consumer Discretionary12.22%
Consumer Staples8.51%
Health Care7.74%
Utilities6.42%
Communication Services4.35%
Cash0.07%

Distributions

Ex-DividendRecordPayableDistribution Per Share
09/29/202109/30/202110/04/20210.067294
08/30/202108/31/202109/02/20210.045695
07/29/202107/30/202108/03/20210.045422
06/29/202106/30/202107/02/20210.054012
05/27/202105/28/202106/02/20210.037318
04/29/202104/30/202105/04/20210.022500
03/29/202103/30/202104/01/20210.040077
02/25/202102/26/202103/02/20210.032011
01/28/202101/29/202102/02/20210.034048
12/29/202012/30/202001/04/20210.143333
11/27/202011/30/202012/02/20200.069662
10/29/202010/30/202011/03/20200.030434
09/29/202009/30/202010/02/20200.035874
08/28/202008/31/202009/02/20200.020712
07/30/202007/31/202008/04/20200.009765
06/29/202006/30/202007/02/20200.047353
05/28/202005/29/202006/02/20200.051608
04/29/202004/30/202005/04/20200.043675
03/27/202003/30/202004/01/20200.070263
02/25/202002/26/202002/28/20200.049613
01/29/202001/31/202002/04/20200.054836
12/27/201912/30/201901/03/20200.076181
11/27/201911/29/201912/3/20190.058615
10/30/201910/31/201911/4/20190.040394
9/27/20199/30/201910/2/20190.051475
8/28/20198/30/20199/4/20190.0479
7/30/20197/31/20198/2/20190.023934
6/27/20196/28/20197/2/20190.063913
5/30/20195/31/20196/4/20190.040131
4/26/20194/30/20195/2/20190.034715
3/28/20193/29/20194/2/20190.066273
2/27/20192/28/20193/4/20190.05885
1/30/20191/31/20192/4/20190.02695
12/27/201812/28/20181/3/20190.073132
11/29/201811/30/201812/4/20180.071378
10/30/201810/31/201811/2/20180.032762
9/27/20189/28/201810/2/20180.044242
8/29/20188/31/20189/5/20180.0454
7/30/20187/31/20188/2/20180.021
6-26-20186-27-20186-29-20180.060068
5-30-20185-31-20186-4-20180.061
4-27-20184-30-20185-2-20180.069
3/27/20183/29/20184/3/20180.059
2/27/20182/28/20183/2/20180.045
1/30/20181/31/20182/2/20180.038
12/22/201712/26/201712/29/20170.156
11/15/201711/16/201711/21/20170.060
10/16/201710/17/201710/20/20170.058
9/15/20179/18/20179/21/20170.055
8/15/20178/17/20178/21/20170.030
7/17/20177/19/20177/21/20170.006
6/15/20176/19/20176/21/20170.052
5/15/20175/17/20175/19/20170.023
4/17/20174/19/20174/21/20170.077
3/15/20173/17/20173/21/20170.058
2/15/20172/17/20172/22/20170.009

Premium Discount

DateDays< -0.5%-0.5% to 0%00% to 0.5%> 0.5%
202118805811290
     9/30/2021 640311320
     6/30/2021630110520
     3/31/2021610160450
2020253510701401
201925201610910
2018251013201190

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.

OUSM Research & News

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