DEFR Aptus Deferred Income ETF
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Aptus Deferred Income ETF (DEFR) ETF
No description available.
- Exchange
- BATS
- Inception
- 2025-05-13
- Has Options
- No
- Expense ratio
- 0.79% prospectus, filed Sep 2, 2025
- Assets
- $144M SEC filing, Jul 31, 2026
- Trailing yield
- —
- Average daily volume
- $537K 30 sessions
- Holdings
- 10 top 10 are 100.9%
- Listed
- May 13, 2025 Cboe BZX
Moves with. Long Treasuries (36% of its variance, beta 0.23); US large-cap stocks (33% of its variance, beta 0.20); High yield over Treasuries (6% of its variance, beta -0.25). These factors explain 79% of its daily moves over the last year.
Stated objective. The Aptus Deferred Income ETF (the Fund) seeks to exceed the performance of the Bloomberg U.S. Aggregate Bond Index (the Index). (from the fund's prospectus)
All 10 holdingsFlow historyOverlap toolAll Multisector Bond ETFs
- Jul 2026
- +$5.8M latest reported month
- Latest 3 months
- +$28M +19.8% of assets
- Latest 12 months
- +$88M +61.5% of assets
View as a table
| Month | Net flow |
|---|---|
| Jul 2026 | +$5.8M |
| Jun 2026 | +$17M |
| May 2026 | +$6.0M |
| Apr 2026 | +$2.7M |
| Mar 2026 | +$5.7M |
| Feb 2026 | +$2.7M |
| Jan 2026 | +$4.0M |
| Dec 2025 | +$8.7M |
| Nov 2025 | +$3.3M |
| Oct 2025 | +$4.6M |
| Sep 2025 | +$3.9M |
| Aug 2025 | +$24M |
Net creations and redemptions from the fund's SEC filings, which become public about 60 days after each quarter. Every month since 15 months ago
| Fund | Overlap | Fee | Assets | 1Y | |
|---|---|---|---|---|---|
| BINCiShares Flexible Income Active ETF | — | 0.40% | $16.5B | −4.9% | compare |
| PYLDPIMCO Multi Sector Bond Active ETF | — | 0.64% | $16.4B | −5.3% | compare |
| JPIEJPMorgan Income ETF | — | 0.39% | $11.2B | −3.2% | compare |
| BONDPIMCO Active Bond Exchange-Traded Fund | — | 0.54% | $8.6B | −6.8% | compare |
| CGCPCapital Group Core Plus Income ETF | — | 0.34% | $8.5B | −6.8% | compare |
The largest other funds in the Multisector Bond category.
- Authorized participants
- 4 active of 4 with agreements; top 3 did 99%
- Created · redeemed
- $347M · $232M over the fiscal year
- Redemptions in kind
- 100% creations 0% in kind
- Creation unit
- 25,000 shares
- Securities lending
- authorized, none lent
- Diversification status
- Non-diversified may concentrate in fewer issuers
From the fund's annual census filing with the SEC. In-kind redemptions are what let an ETF shed appreciated securities without realising gains.
| Symbol | Name | Weight % | Asset Class | Country |
|---|---|---|---|---|
| — | N/A | 55.84% | Derivative (equity) | US |
| — | N/A | 37.84% | Derivative (equity) | US |
| — | TREASURY BILL | 4.26% | Debt | US |
| — | N/A | 2.22% | Derivative (equity) | US |
| — | N/A | 0.71% | Derivative (equity) | US |
| — | First American Treasury Obliga | 0.44% | Short-term investment | US |
| — | N/A | 0.08% | Derivative (equity) | US |
| — | N/A | -0.00% | Derivative (equity) | US |
| — | N/A | -0.01% | Derivative (equity) | US |
| — | N/A | -1.36% | Derivative (equity) | US |
| Category | Weight | Value | Positions |
|---|---|---|---|
| Derivative (equity) | 95.31% | $136.9M | 8 |
| US Treasury | 4.26% | $6.1M | 1 |
| Short-term investment | 0.44% | $625756 | 1 |
| Month | '25 | '26 | Avg |
|---|---|---|---|
| Jan | -- | 0.04% | 0.04% |
| Feb | -- | 2.38% | 2.38% |
| Mar | -- | -2.25% | -2.25% |
| Apr | -- | 0.11% | 0.11% |
| May | 0.79% | -0.04% | 0.38% |
| Jun | 2.05% | 0.41% | 1.23% |
| Jul | -0.06% | -0.94% | -0.50% |
| Aug | 0.86% | 0.09% | 0.47% |
| Sep | 0.54% | -2.04% | -0.75% |
| Oct | 0.59% | 1.62%* | 1.10% |
| Nov | 1.23% | -- | 1.23% |
| Dec | -0.07% | -- | -0.07% |
| Total | 6.07% | -0.71% | 2.68% |
Quick-reference for reading the values below. Indicators combine to confirm a view — no single one is a trade signal on its own.
- SMA 20 / 50 / 200 — price above = uptrend, below = downtrend. SMA 50 crossing SMA 200 is the golden/death cross.
- EMA 12 / 26 — faster-reacting averages; 12 above 26 is short-term bullish.
- MACD — bullish when MACD > signal (green badge), bearish when below. Divergence from price often precedes reversals.
- ADX (14) — trend strength regardless of direction. <20 range, 20–25 weak trend, 25–50 trend, >50 strong trend.
- +DI / −DI — +DI > −DI favors bulls; the reverse favors bears. Read alongside ADX.
- RSI (14) — <30 oversold, >70 overbought. 40–60 is neutral; trending names can stay extreme.
- Stochastic %K / %D — <20 oversold, >80 overbought. %K crossing %D is an early momentum signal.
- Williams %R — inverted scale: <−80 oversold, >−20 overbought.
Oscillators work best in range-bound markets; in strong trends they give premature reversal signals.
- Bollinger Bands — price at upper band = overbought, lower = oversold. Narrow bands (squeeze) often precede expansion.
- OBV — cumulative volume; rising OBV confirms uptrend, falling OBV confirms downtrend. Divergence from price is a warning.
- Vol SMA 20 / Vol ROC — today's volume vs. 20-day average. Positive ROC with price move = conviction.
- ATR / True Range — average daily $ move; sizing and stop-loss reference.
- HV 20 / 30 / 60 — realized (historical) volatility. Compare to IV on the options cards: IV > HV = rich premium.
Confluence matters: trend + momentum + volume agreeing carries far more weight than any single indicator. For how these feed the spread scanner score, see the algorithm docs →
Trend Indicators
Momentum Oscillators
Volume & Volatility
Data Summary
LLM Stock Analysis Report: DEFR
Executive Summary
Overall Assessment: NEUTRAL (Confidence Level: 6/10)
Key Drivers and Primary Risks:
- Technical indicators suggest a neutral trend, with the MACD indicating bearish momentum.
- Momentum oscillators show mixed signals, with RSI in neutral territory and stochastic indicators suggesting potential support.
- Volatility metrics indicate low stock volatility compared to the broader market.
Investment Thesis: DEFR appears to be stuck in a consolidation phase, with no clear trend emerging. The lack of recent news headlines further adds to the uncertainty.
Recent News Sentiment Impact: No recent news available, which reduces the impact on sentiment.
Technical Analysis
Trend Direction:
- Short-term (1-4 weeks): Neutral
- Medium-term (1-3 months): Neutral
- Long-term (3-12 months): Uptrend
Support/Resistance Levels:
- Key price levels:
- Lower band: $26.31
- Middle line: $26.55
- Upper band: $26.78
- Moving average crossovers:
- SMA 20: $26.55
- EMA 12: $26.51
Momentum Signals:
- RSI interpretation: Neutral (52.95)
- MACD signal: Bearish (crossover below signal line)
- Bollinger Bands position: Squeeze (price between upper and lower bands)
Volume Analysis:
- Volume trends:
- SMA 20: 17462.20
- Institutional interest signals:
- OBV: -868406.34 (bearish)
- Volume rate of change: 379.26% (positive)
News & Sentiment Analysis
Recent Headlines Summary: No recent news available.
Sentiment Assessment: Neutral (no recent news).
Catalyst Identification: No upcoming events or releases that could significantly impact the stock price.
Market Narrative: The lack of recent news headlines and mixed technical signals create a neutral market narrative, with no clear direction emerging.
Risk & Volatility Assessment
Beta Interpretation: Low risk (beta = 0.19).
Volatility Regime: Low volatility relative to historical levels.
Options Market Signals:
- IV rank: N/A
- Put/call ratios: N/A
- Unusual activity: No significant options activity observed.
Downside Protection: Support levels and risk management considerations are crucial in this neutral market environment.
Market Context & Positioning
Sector Performance: DEFR's sector (Technology) has been performing relatively strong compared to the broader market.
Institutional Activity: OBV suggests bearish sentiment, while institutional interest is moderate.
Correlation Analysis: DEFR's correlation with the market (R-squared interpretation) is low, indicating a lack of clear direction.
Relative Valuation: The stock appears reasonably valued within its trading range.
Key Levels & Action Items
Critical Price Levels:
- Support: $26.31
- Resistance: $26.78
Breakout/Breakdown Levels: No significant technical levels to monitor.
Time-Sensitive Catalysts: No immediate or near-term catalysts that could significantly impact the stock price.
Risk Management: Monitor volume and sentiment indicators to adjust risk exposure accordingly.
Please note that this analysis is based on the provided data, and actual market conditions may differ.
DEFR Options Activity & IV Rank
Each spread is ranked by a composite score built in three stages. Full documentation →
score = P(profit) × (credit / spread_width)
P(profit) from short leg delta (1 − |delta|), penalised above 85%. Credit uses mid-price to handle illiquid chains fairly.
RR and BF (30-delta) from the persisted per-symbol skew snapshot — wing strikes picked by real greeks.delta, not a moneyness proxy. Put skew boosts bull puts, penalises bear calls. High butterfly boosts iron condors. Calendars are skew-neutral.
- RSI <40 bullish / >60 bearish
- MACD crossover + histogram trend
- Price vs SMA 50 & SMA 200
- Stochastic %K <20 / >80
- Williams %R <−80 / >−20
- Blended ATR + straddle expected-move penalty
- Bollinger Band signal (+ counter-trend penalty)
- BB width — vol contraction boost for ICs
- IV rank ≥ 75 → strong boost for credit spreads
- IV rank < 25 → penalty (selling cheap vol)
- Min open interest across all legs
- OI < 100 → −0.10 · OI < 500 → −0.05
score = base_score × skew_multiplier × tech_multiplier
Both multipliers are shown per spread. Beta is informational only — ATR already captures realized vol. Full algorithm documentation →
Enter a ticker to scan for optimal spread opportunities.
Evaluates all bull put, bear call, iron condor, and calendar spread combinations using GPU-accelerated analysis.
IV(put wing) − IV(ATM), in vol pointsHow much the OTM put trades above (or below) the at-the-money strike. Measures the height of the put-side tail relative to ATM — i.e. how expensive crash insurance is on this name.
- Positive (typical) — wing IV > ATM IV. Standard equity put skew: portfolios bid up crash protection, so OTM puts trade richer than ATM.
- Near zero or negative (unusual) — wing IV ≤ ATM IV. Flat or inverted put side. Common when there's no fear demand, in tightly mean-reverting names, or right after an earnings catalyst clears.
- Percentile vs own 3-yr history: high = wings rich (good time to sell wing premium); low = wings cheap (good time to buy protection).
- Not directional — high or low wings don't predict up or down moves. It's a price tag on tail insurance, not a forecast.
IV(call wing) − IV(put wing), equal delta on each sideWhich side of the smile is the market paying up for? Measures the tilt of the surface — call skew vs put skew at matched deltas.
- Negative (typical) — puts richer than calls. Standard equity behavior: hedging demand makes puts carry a premium. Most large-caps sit in the −1 to −5 vol-point range.
- Strongly negative (< −5 pts) — heavy downside hedging, elevated fear, or an upcoming catalyst (earnings, FDA, macro event). Worth flagging.
- Positive — calls richer than puts. Unusual for equities; signals bullish momentum, short-squeeze positioning, or takeover/M&A speculation.
- Near zero — symmetric surface. Market sees roughly equal up/down risk. Rare for large-caps; more common in commodities and FX.
Wing-vs-ATM tells you how expensive the tails are. Risk Reversal tells you which side is favored. Combined:
- High wing percentile + deeply negative RR → strong put bid; stress or major event priced in. Owning protection costs a premium; selling put premium is dangerous.
- Low wing percentile + near-zero RR → complacency; insurance cheap and balanced. Good environment to add cheap downside hedges.
- Positive RR + elevated wings → call-side fear-of-missing-out; common in squeeze setups. Upside calls expensive, downside puts not bid.
Percentile is the rank of today's reading within ~3 years of this symbol's own history. High percentile = wings are rich relative to history; not a directional signal. Skew is read off the chain in real time, not from CBOE SKEW.
Enter a ticker to render the implied volatility surface.
Enter a ticker to render the implied volatility smile.
Risk Metrics
Analysis Details
Data Points: 251
Period: 252 trading days
Low volatility - stock moves less than market
DEFR Institutional Ownership (13F)
Latest filings — 2026-09-30Institutional managers with $100M+ AUM file Form 13F-HR quarterly, due 45 days after quarter end. Holdings are reported gross at quarter-end market value — they are a snapshot, not a real-time position.
- Shares — long equity positions in this name, aggregated across share classes.
- Calls / Puts — notional value of long call / put exposure where this ticker is the underlying.
- % of Float — holder's reported shares divided by the latest diluted shares outstanding. Sums above 100% indicate large custodian / prime broker positions where the same shares are reported by multiple filers.
- Custodian badge — filers with more than 5,000 holdings are typically broker-dealers / custodians reporting customer-held shares, not active managers.
Each filer is counted once at its latest 13F-HR filing. New filings are ingested on a weekly cadence.
| # | Filer | Notional Value | % of Total | Period |
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| # | Filer | Notional Value | % of Total | Period |
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| Symbol | Name | Weight % | Price | 1 Day | 1 Week | 1 Month |
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