What this ETF is trying to do

The ARS Focused Opportunities Strategy ETF (AFOS) is an exchange-traded fund that invests in a focused group of companies. Based on its top holdings, it holds a mix of technology, energy, and healthcare companies. As of October 7, 2026, the fund has a total of 33 holdings.

Top Holdings

The fund's portfolio can change over time. Some of its largest holdings include:

• Marathon Petroleum Corp: 7.16%

• First American Government Obligs X: 5.61%

• Lam Research Corp: 4.77%

• Nvidia Corp: 4.64%

• Micron Technology Inc: 4.61%

• Alphabet Inc Class A: 4.5%

• Newmont Corp: 4.26%

• Freeport-McMoRan Inc: 3.92%

• Western Digital Corp: 3.89%

• Microsoft Corp: 3.7%

What the numbers show

As of October 2, 2026, the current price of one share is $45.50.

The fund has seen growth recently:

• Year-to-Date (YTD): The price return is 32.33%.

• One-Year Price Return: The share price increased by 45.15%.

• One-Year Total Return: This figure, which includes distributions, is 45.57%.

To put this in perspective, the estimated price from roughly one year ago was $31.34. If an investor had put $10,000 into the fund one year ago, the price-only growth would have increased that amount to approximately $14,515.

Income and distribution explanation

This ETF pays out cash distributions, but it does so irregularly. In the last 12 months, it has made only one payout. The distribution yield is 0.22%.

It is important for new investors to remember that a distribution yield is not the same as a total return. While distributions provide cash income, they do not guarantee that the original money invested (the principal) will stay the same or grow.

NAV erosion explanation

"NAV erosion" happens when the internal value of an ETF's assets drops over time, often causing the share price to fall even if the market is doing well.

For AFOS, the erosion-risk score is 100, and the erosion severity is labeled as "good." The data shows that no price erosion was detected, and there is no severe erosion-risk flag for this fund.

Pros

• Strong one-year price and total returns.

• No detected NAV erosion.

• Diversified top holdings across different industries.

Cons

• Distributions are irregular and infrequent.

• The distribution yield is very low.

Beginner takeaway

AFOS has shown significant price growth over the last year. While it does provide some cash income, the payouts are infrequent. Investors usually look for principal stability—meaning the share price stays steady or grows—especially when they rely on a fund for income. In this case, the fund has a "good" erosion-risk score, meaning its price has not shown the patterns typically associated with NAV erosion.