Aptus Large Cap Upside ETF · CBOE:UPSD
Aptus Large Cap Upside ETF — Investor Presentation (September 2026)
24 slides from Aptus Large Cap Upside ETF's investor presentation, September 2026
Slide 1: Aptus Large Cap Upside ETF
Q3 2026 | UPSD INVESTOR PRESENTATION Aptus Large Cap Upside ETF More Upside, Similar Risk.
Slide 2: Firm Overview
Firm Overview • Founded in Fairhope, Alabama in 2013. • As of September 30th, 2026, Aptus manages over $6.7B in ETF assets under management. • We believe that we maintain distinct and differentiated investment strategies, exploiting inefficient asset classes. Distinct Fund Lineup We believe that eac
Slide 3: Aptus Strategy Toolkit
Aptus Strategy Toolkit More Stocks, Less Bonds, Similar Risk HEDGE THE TAIL ENHANCE YIELD IMPROVE GROWTH Aptus Collared Investment Opportunity ETF Aptus Enhanced Yield ETF Aptus Defined Risk ETF ACIO JUCY DRSK Hedged equity collar with calendar flexibility, for Lower- duration U.S. Treasuries target
Slide 4: Partnerships Built for Peace of Mind
Partnerships Built for Peace of Mind A Team-Based Approach Provides Unique Perspectives Aptus Capital Advisors HQ Fairhope, Alabama Your Investment Team JD Gardner, CFA & CMT Fairhope, AL Derek Hernquist Charlotte, NC Beckham Wyrick, CFA & CFP Fairhope, AL James Yahoudy, CFP Dallas, TX John Luke Tyn
Slide 5: Aptus Large Cap Equity Upside ETF (UPSD)
Aptus Large Cap Equity Upside ETF (UPSD) More Upside Potential , Similar Long-Term Risk Portfolio Managers • JD Gardner, CFA & CMT • Brad Rapking, CFA • Brian Jacobs, CFA • Mark Callahan Ticker: UPSD Inception Date: 11/20/2024 Expense Ratio: 0.79% Primary Exchange: CBOE Distributor: Quasar Distribut
Slide 6: UPSD Aims to Outperform With Similar Long-Term Risk
UPSD Aims to Outperform With Similar Long-Term Risk More Upside Potential , Similar Long-Term Risk Improved Risk-Adjusted Returns Targeted Return Targeted Long-Term Risk MULTI-SIGNAL TREND + MULTI-SIGNAL TREND MULTI-SIGNAL Stacked to Create With a Similar CORE EQUITY a Capital Efficient Risk Profile
Slide 7: UPSD Strategy Overview
UPSD Strategy Overview More Upside Potential , Similar Long-Term Risk Goal: Enhance performance through incremental market exposure during uptrends, with similar long-term risk as a core US equity portfolio. Structural and Dynamic Overlay for > 100% Upside Potential OVERLAY Multi-Signal Dynamic Opti
Slide 8: Objective: More Upside Potential with Similar Risk
Objective: More Upside Potential with Similar Risk A More Optimal Solution Compared to Taking on Static Leverage Performance Since S&P 500 Inception (Jan 1970-Sept 2026) 14% 105% Upside / 95% Downside* 12% 95% Upside / 105% Upside / 110% Upside / S&P 500 110% Upside / 95% Downside 95% Downside 110%
Slide 9: UPSD Return Components
UPSD Return Components info@apt.us | 251.517.7198 | 314 Magnolia Ave, Fairhope, AL 36532 For Advisor Use Only
Slide 10: A Better Core, Enhanced by Diverse Return Streams
A Better Core, Enhanced by Diverse Return Streams Lower Risk Minimum Volatility Core, Amplified by Trend and Premium Strategies Derisked Min Vol Core Intermediate Trend Following Dynamic Option Selling Own Lower Volatility Stocks Own Incremental Exposure During Uptrends Collect Option Premiums when
Slide 11: Lower Volatility Equity Core
Lower Volatility Equity Core info@apt.us | 251.517.7198 | 314 Magnolia Ave, Fairhope, AL 36532 For Advisor Use Only
Slide 12: Building an Efficient Core to Unlock Return Potential
Building an Efficient Core to Unlock Return Potential We Search for Stocks With the Following Characteristics: VALUE QUALITY Stabilizes the core, minimizing risk Reduces unexpected fundamental issues • Avoids expensive stocks to enhance resilience • Targets strong, sustainable fundamentals • Balance
Slide 13: Minimum Volatility Core Stabilizes Returns
Minimum Volatility Core Stabilizes Returns Market-Like Returns with Lower Risk and Better Drawdown Management 1) LOWER RISK, MORE CONSISTENT RETURN PROFILE 2) ENHANCED THROUGH MULTI-FACTOR SCREEN Targeting minimum volatility has historically reduced risk while Multi-factor screening enhances risk-ad
Slide 14: Intermediate Trend Following
Intermediate Trend Following info@apt.us | 251.517.7198 | 314 Magnolia Ave, Fairhope, AL 36532 For Advisor Use Only
Slide 15: Leaning into Market Trends for Enhanced Performance
Leaning into Market Trends for Enhanced Performance Capturing Long-Term Market Moves While Managing Risk Goal: Add exposure during uptrending markets to enhance returns, while avoiding higher risk environments Return vs Risk Index = 1 June 1996 (January 1970 – September 2026) 32 S&P 500 Total Return
Slide 16: Shorter Term Dynamic Put Writing
Shorter Term Dynamic Put Writing info@apt.us | 251.517.7198 | 314 Magnolia Ave, Fairhope, AL 36532 For Advisor Use Only
Slide 17: Why Collect Option Premium?
Why Collect Option Premium? Alternative Equity Exposure: Provides a different pathway to returns than equities with similar return and reduced risk Flexible Exposure Management: Ability to adjust exposure easily (simply don’t roll puts), allowing for efficient implementation Captures volatility prem
Slide 18: Improving a Premium Collection Strategy
Improving a Premium Collection Strategy Risk Management for Improved Consistency Through Short-Term Market Signals Goal: Improve risk-adjusted returns by collection premiums only during more favorable market conditions CBOE PutWrite Next Month Returns (1990-2025) 14% DON’T OWN OWN High Volatility 12
Slide 19: UPSD Exposures and Core Holdings
UPSD Exposures and Core Holdings info@apt.us | 251.517.7198 | 314 Magnolia Ave, Fairhope, AL 36532 For Advisor Use Only
Slide 20: UPSD Exposures and Core Holdings
UPSD Exposures and Core Holdings Structured for Returns and Efficient Exposures Exposure Security Types SHORTER-TERM TREND / OPTION SELLING Short-Term Trend S&P 500 put premium collection, activated by Total Return Swaps for efficient, tax- OVERLAY short-term signals advantaged exposure INTERMEDIATE
Slide 21: Minimum Volatility Portfolio
Minimum Volatility Portfolio Top 10 Individual Equity Positions / Sector Weights Ticker Description Weight A semiconductor company renowned for designing graphics processing units (GPUs), NVIDIA Corp (NVDA) 5.33% widely used in gaming, artificial intelligence, and high-performance computing. Sector
Slide 22: Portfolio Attribution
Portfolio Attribution Current Positioning as of 9.30.2026 UPSD Component Contribution to Returns 30% 25% 20% 15% 10% 5% 0% -5% -10% -15% -20% Dec-24 Mar-25 Jun-25 Sep-25 Dec-25 Mar-26 Jun-26 Sep-26 Dynamic Put Writing Equity Trend Core Minimum Volatility Equity Aptus Large C ap Equity Upside (UPSD)
Slide 23: Portfolio Performance
Portfolio Performance Performance Versus Benchmarks (%) UPSD UPSD S&P 500 MSCI USA Minimum Pacer Trendpilot US Time Period (Market) (NAV) Index Volatility Index Large Cap Index Q3 2026 6.00% 5.70% 2.30% 1.36% 2.30% Year-to-Date 12.04% 11.91% 12.75% 4.59% 7.55% One Year* 12.71% 12.46% 15.74% 4.06% 10
Slide 24: Disclosures
Disclosures Please carefully consider the funds objectives, risks, charges, and expenses before investing. The statutory or summary prospectus contains this and other important information about the investment company. For more information, or a copy of the full or summary prospectus, visit www.aptu
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