ETF Evaluator:
ALPS O'Shares US Quality Div ETF (OUSA)
Follow This ETF
(as of Jul 31)
Best Performing in Large Value Over the Last Year
| 80.0% | iShares MSCI USA Value Factor ETF (VLUE) |
| 37.2% | Invesco S&P S&P 500 Concentrated QVM ETF (QVMT) |
| 36.6% | SEI QiM U.S. Lrg Cap Value Actv ETF (SEIV) |
| 35.3% | Avantis US Large Cap Value ETF (AVLV) |
| 35.1% | LSV Disciplined Value ETF (LSVD) |
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ETF Details
ALPS O'Shares US Quality Div ETF Overview
ALPS O'Shares US Quality Div ETF (OUSA) is a passively managed U.S. Equity Large Value exchange-traded fund (ETF). ALPS launched the ETF in 2015.
The investment seeks to track the performance (before fees and expenses) of the O'Shares U.S. Quality Dividend Index.
The underlying 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"). Under normal market conditions, the fund will invest at least 80% of its total assets in the components of the underlying index.
About ALPS O'Shares US Quality Div ETF (OUSA)
There are 2 members of the management team with an average tenure of 3.14 years: Ryan Mischker (2022) and Charles Perkins (2024). Management tenure is more important for actively managed ETFs than passive index ETFs.
The ETF has 2 primary benchmarks: Bloomberg US 1000 Val TR USD index with a weighting of 100% and O'Shares U.S. Quality Dividend TR USD index with a weighting of 100%. ALPS O'Shares US Quality Div ETF has 103 securities in its portfolio. The top 10 holdings constitute 44.6% of the ETF’s assets. The ETF meets the SEC requirement of being classified as a diversified fund. The ETF is not considered to have an ESG focus with its investment selection and management.
ALPS O'Shares US Quality Div ETF is part of the Equity global asset class and is within the U.S. Equity ETF group. ALPS O'Shares US Quality Div ETF has 1.2% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 98.7% There is 1.2% allocated to foreign stock, and 0.0% is allocated to preferred stocks. The bond allocation as a percentage of total assets is 0.0% (0.0% domestic bond, 0.0% foreign bond and 0.0% convertible bond). ALPS O'Shares US Quality Div ETF has 0.1% of the portfolio in cash.
Assets Under Management
The fund has $725 million in total assets, which is below the $5 billion average for the Large Value category. Normally, lower assets under management translates to higher average expense ratios, and greater total assets are desired. However, for some investment categories, such as small-cap investing, it may be difficult for the manager to fully employ the desired active strategy if assets grow too large or too quickly.
OUSA Performance and Fees
The expense ratio measures how much of a fund’s assets are used for administrative expenses and operating expenses, including adviser fees and fees for the transfer agent and custodial services. The ALPS O'Shares US Quality Div ETF expense ratio is average compared to funds in the Large Value category. ALPS O'Shares US Quality Div ETF has an expense ratio of 0.48%, which is 30% higher than its category average, making the fund expense ratio grade a D. While it is difficult to predict returns, it is known that high annual expense ratios reduce your rate of return, and excessive fees are difficult to overcome. Active management normally comes with higher expense ratios than passive index management. Certain investment categories such as small company and foreign also normally have higher expense ratios. It is best to compare fund expense ratios against the category averages for meaningful assessments.
High portfolio turnover can translate to higher expenses and lower aftertax returns. ALPS O'Shares US Quality Div ETF has a portfolio turnover rate of 17%, which indicates that it holds its assets around / 0.1 years. By way of comparison, the average portfolio turnover is 41% for the Large Value category.
Recently, in the month of June 2026, ALPS O'Shares US Quality Div ETF returned -0.6%, which earned it a grade of F, as the Large Value category had an average return of 1.1%. The letter grades of A, B, C, D and F are based upon relative rankings within the investment category. A grade of A, for example, would indicate that the return is in the highest 20% for that time period compared to all ETFs in that category.
ALPS O'Shares US Quality Div ETF has a trailing yield of 1.41%, which is below the 1.74% category average.
The fund normally distributes its income monthly.
It’s natural to seek the best-performing investments, but you must consider the relationship between risk and return and the impact of costs and taxes on your realized returns.
ALPS O'Shares US Quality Div ETF Grades
Year to date, the ETF has returned 2.0%, 9.9 percentage points worse than the category, which translates into a grade of F. The fund has returned 9.7% over the past year (grade of F), 11.6% over the past three years (grade of F) and 8.7% per year over the past five years (grade of F) and 10.0% per year over the past 10 years (grade of F).
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OUSA Trailing NAV Total Returns Data as of 6/30/26
| Last Month |
Last Quarter |
Ann'l. 1Yr |
Ann'l. 3Yr |
Ann'l. 5Yr |
Ann'l. 10Yr |
|
| OUSA Return (NAV) | -0.6% | 5.2% | 9.7% | 11.6% | 8.7% | 10.0% |
| OUSA Return (Price) | -0.7% | 5.2% | 9.7% | 11.6% | 8.6% | 10.0% |
| NAV +/- Price Return | 0.076% | 0.058% | 0.024% | 0.017% | 0.036% | 0.014% |
| Large Value Avg | 1.1% | 9.8% | 22.0% | 16.7% | 11.0% | 12.2% |
| OUSA Grade (NAV) | F | D | F | F | F | F |
| +/- Category (NAV) | -1.8% | -4.6% | -12.3% | -5.0% | -2.3% | -2.2% |
| OUSA Tax-Cost Ratio | na | na | 0.6% | 0.7% | 0.7% | 0.9% |
OUSA Annual NAV Total ReturnsData as of 6/30/26
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
| OUSA Return (NAV) | 2.0% | 10.3% | 17.1% | 13.2% | -9.2% | 23.7% | 6.9% | 25.2% | -3.1% | 18.8% | 12.3% |
| OUSA Return (Price) | 1.8% | 10.2% | 17.1% | 13.4% | -9.3% | 23.7% | 7.0% | 25.0% | -3.1% | 18.8% | 12.3% |
| NAV +/- Price Ret | -0.071% | -0.009% | -0.000% | 0.017% | 0.012% | 0.003% | 0.013% | -0.8% | 1.9% | 0.1% | -0.1% |
| Large Value Avg | 11.9% | 14.8% | 15.5% | 13.1% | -6.5% | 26.7% | 5.4% | 27.4% | -6.6% | 17.7% | 15.7% |
| OUSA Grade (NAV) | F | F | B | C | D | F | C | D | A | B | F |
| +/- Category | -9.9% | -4.5% | 1.6% | 0.2% | -2.7% | -3.0% | 1.5% | -2.1% | 3.5% | 1.1% | -3.4% |
| Risk Measures | |
| Beta: | 0.67 |
| R-Squared: | 70% |
| Standard Deviation: | 10.5% |
| Category Risk Index: | 0.86 |
| Category Risk Rating: | Low |
| Total Risk Index: | 0.86 |
| Total Risk Rating: | Below Average |
| Portfolio Characteristics | |
| Yield: | 1.4% |
| Total Assets: | $ 726 Mil |
| Share Class Assets: | $ 726 Mil |
| Turnover: | 17.0% |
| Expense Ratio: | 0.48% |
| Index Fund: | Yes |
| Index Tracked: | Bloomberg US 1000 Val TR USD |
| Index Weighting: | 100% |
| Leveraged: | No |
| Socially Responsible Fund: | No |
| Capital Gains Distribution Frequency: | |
| Income Distribution Frequency: | Monthly |
Management Team
| Number of Managers: 2 | |||
| Longest Tenure: 4.0 years | |||
| Average Tenure: 3.1 years | |||
| Managers (Year): Mischker Ryan (2022), Perkins Charles (2024) | |||
Portfolio Composition (as of 6/30/26)
| # of Holdings: | 103 |
| % in Top 10 Holdings: | 44.6% |
| Fund is Non-Diversified: | No |
| % in Foreign Issues: | 1.2% |
Portfolio Allocation |
|
| Domestic Stock: | 98.7% |
| Foreign Stock: | 1.2% |
| Preferred Stock: | 0.0% |
| Domestic Bond: | 0.0% |
| Foreign Bond: | 0.0% |
| Convertible Bond: | 0.0% |
| Other: | 0.0% |
| Cash: | 0.1% |
Purchase Information
| Legal Structure: | Open Ended Investment Company |
| Fund Family: | ALPS |
| Phone Number: | 866-675-2639 |
| Website: | www.alpsfunds.com |
| Inception Date: | July 14, 2015 |
Expenses and Fees
| Expense Ratio (%): | 0.48% (Rating: Avg) |
| Category Average Expense Ratio (%): | 0.37% |
