비스타쉐어즈 타겟 15® USA Quality Income ETF

QUSA is the ticker of the VistaShares Target 15® USA Quality Income ETF, a covered call ETF that holds U.S. companies with strong quality characteristics and writes options to seek a 15% annual distribution rate, paid monthly. Quality is defined by High Profitability, Low Earnings Variability and Low Leverage. Distributions are not guaranteed, may vary and may include return of capital, and a distribution rate is not a total return.

QUSA is an exchange-traded fund, not shares of a single company. Its shares trade on the NYSE like a stock, and each share represents an interest in a portfolio of U.S. quality companies plus an options portfolio that seeks a 15% annual distribution rate, paid monthly.

QUSA seeks to generate high monthly income by investing in a diversified equity portfolio and implementing a data-driven options investment strategy. Its stated target is a 15% annual distribution rate, paid monthly. There is no guarantee of how the Fund will perform and no assurance it will make a distribution in any month.

QUSA holds large-cap and mid-cap U.S. companies that exhibit strong quality financial characteristics, defined by High Profitability, Low Earnings Variability and Low Leverage, plus call options written on that portfolio to generate income. The full holdings list is on the fund page and is updated daily.

In QUSA, a quality company is one that exhibits strong quality financial characteristics defined by three criteria: High Profitability, Low Earnings Variability and Low Leverage. Companies that meet this screen make up the Fund’s stock portfolio, which is rebalanced quarterly.

QUSA’s strategy has two components: (1) investing in a portfolio of U.S. equity securities that exhibit strong quality characteristics defined by High Profitability, Low Earnings Variability and Low Leverage; and (2) generating income through an options portfolio. The income from the options portfolio is a main source of the Fund’s monthly distributions, which seek a 15% annual distribution rate.

QUSA rebalances its stock portfolio quarterly, applying its quality screen of High Profitability, Low Earnings Variability and Low Leverage, so holdings can change as companies’ financial characteristics change. The full holdings list, updated daily, is on the fund page, and the prospectus describes the strategy in full.

Yes. QUSA is actively managed by VistaShares Advisors LLC, with the portfolio run by the VistaShares Investment Committee. The Committee applies the quality screen at each quarterly rebalance and manages the options portfolio written on the Fund’s stocks.

QUSA’s investment adviser is VistaShares Advisors LLC, and the portfolio is run by the VistaShares Investment Committee, which oversees both the quality stock portfolio and the options portfolio. More about the firm is on the VistaShares에 관하여 page. Foreside Fund Services, LLC is the Fund’s distributor. For fund information, call (844) 875-2288.

QUSA works by owning a portfolio of U.S. large-cap and mid-cap quality companies and writing call options on the whole portfolio to collect premium. That premium is a main source of the monthly distributions, which seek a 15% annual distribution rate. Because every position is overwritten, the Fund gives up gains above the strike prices if its quality stocks rise sharply.

Yes. QUSA writes call options against its portfolio of U.S. quality stocks to generate income, which is a covered call approach. The Fund describes this as a data-driven options investment strategy. Writing calls may limit QUSA’s potential gains in exchange for premium.

QUSA writes calls on 100% of its portfolio, so every quality stock it holds is covered. Option premium is therefore collected on the full portfolio, and the limit on gains applies across the Fund’s full stock exposure while the options are open.

When stocks rise, QUSA’s quality holdings can gain value, but because calls are written on the whole portfolio, gains above the strike prices are given up until the options expire. QUSA may therefore trail the same quality stocks held without options in a strong rally, while keeping the premium it collected.

In a flat or sideways market, the calls QUSA writes are more likely to expire with little value, so the Fund keeps the premium while its quality stocks change little. How much premium is available depends on volatility and option prices when the calls are written.

In a falling market, QUSA’s stocks lose value and the option premium offsets only a limited part of the decline, if any. Screening for High Profitability, Low Earnings Variability and Low Leverage does not prevent declines; quality companies’ shares can also fall sharply or for long periods. QUSA is not a buffer or hedged fund. Investments involve risk, including possible loss of principal.

Option prices depend on the anticipated volatility of the underlying stocks, changes in their value, time to expiration, and fiscal, monetary, political and economic events. When expected volatility is higher, writing calls generally brings in more premium, and when it is lower, less. Because quality stocks may differ in volatility from the broad market, the premium QUSA collects, and its distributions, can vary.

Yes. If QUSA’s quality stocks fall by more than the premium collected, the Fund loses value. There is no guarantee of how the Fund will perform in the future. Investments involve risk, including possible loss of principal.

QUSA pays monthly distributions. The Fund seeks a 15% annual distribution rate, paid monthly, and each distribution may include option premium, income from the companies it holds, capital gains, interest and return of capital. There is no assurance of a distribution in any month, amounts may vary greatly, and a distribution rate is not a total return. See our guide to 월별 배당 ETF 및 배분.

QUSA pays distributions monthly. Upcoming ex-dates, record dates and payable dates are in the distribution calendar on the fund page, with past distributions listed alongside. You generally need to own shares before the ex-date to receive a distribution.

QUSA seeks a 15% annual distribution rate, paid monthly: monthly distributions that, annualized, aim to equal about 15% of NAV. It is a target, not a promise. Distributions may vary or be skipped and may include return of capital, and a distribution rate is not a total return; QUSA’s total return also depends on its share price.

No. There is no assurance that QUSA will make a distribution in any given month, and amounts may vary greatly. Distributions may include return of capital. The 15% target is a distribution rate, not a total return.

QUSA’s distribution rate takes the most recent monthly distribution, multiplies it by 12 to annualize it, and divides by the Fund’s NAV. It shows what an investor would receive over a year if that distribution stayed the same, which it may not, and it is not a total return. The current rate, with its as-of date, is on the fund page.

QUSA’s distribution rate annualizes its latest distribution, which can include option premium and return of capital. Its 30-day SEC yield reflects only net investment income, which excludes option income, earned over the 30 days ended at the latest month-end, annualized against share price. Because QUSA’s distributions rely on its options portfolio, the two can differ substantially. See our guide to the 유통률 대 30일 SEC 수익률.

QUSA’s distributions may be comprised of option premiums, dividends, capital gains and interest payments, and the Fund’s distributions have been classified as return of capital. The mix can change from month to month. The estimated sources of each distribution are in QUSA’s Section 19(a) notices on the fund page.

Yes. QUSA’s distributions have been classified as return of capital, and the share can vary from one distribution to the next. Return of capital is a tax classification: in a fund that writes options, it can arise when realized losses in the portfolio offset realized gains, so part of a distribution is not characterized as income. QUSA’s Section 19(a) notices give the estimated breakdown for each distribution, and final tax character is reported after year-end. Consult a tax advisor. See our guide to ETF 배분에서 자본의 반환.

Any return of capital portion of a QUSA distribution is generally not taxable when you receive it; it lowers your cost basis in your QUSA shares instead. When you later sell, the lower basis may produce a higher capital gain or a lower capital loss, so tax on that portion is generally deferred until sale, which may offer potential tax deferral. Tax treatment depends on your situation; consult a tax advisor.

No. The return of capital classification describes how part of a QUSA distribution is treated for tax purposes, not how the Fund’s NAV has performed. QUSA’s NAV depends on its total return, which reflects the price changes of its quality stocks and options portfolio, income earned, distributions paid and expenses. Current NAV and performance, with their as-of dates, are on the fund page.

QUSA’s Section 19(a) notices estimate how much of each distribution comes from net investment income, capital gains and return of capital when a distribution may include sources other than net investment income. They are posted on the fund page. They are estimates; final tax character is reported after year-end.

QUSA’s distributions may be characterized as ordinary income, capital gains or return of capital, and the tax result depends on your situation. QUSA’s distributions have been classified as return of capital, which generally reduces cost basis rather than being taxed when received; the Section 19(a) notices give estimates. Return of capital may offer potential tax deferral; how it affects you is a question for your tax advisor.

Many brokers let you automatically reinvest ETF distributions in more shares; whether this is available for QUSA, and on what terms, depends on your broker. Reinvesting does not change the tax character of a distribution, and reinvested return of capital still lowers cost basis.

A covered call ETF holds stocks and writes call options on them, trading part of the upside for option premium. QUSA applies this to a portfolio of U.S. large-cap and mid-cap companies screened for High Profitability, Low Earnings Variability and Low Leverage, and seeks a 15% annual distribution rate, paid monthly. For a full explanation, see our guide: 커버드 콜 ETF란 무엇인가?

No investment is risk-free, and QUSA can lose value. Its main risks include equity market risk, options and derivatives risk, focused portfolio risk, new fund risk, and the risk that distributions vary or stop. A quality screen and option premium do not prevent losses. Investments involve risk, including possible loss of principal.

Yes. QUSA, the VistaShares Target 15® USA Quality Income ETF, holds U.S. companies with strong quality characteristics, defined by High Profitability, Low Earnings Variability and Low Leverage, and runs an options portfolio to seek a 15% annual distribution rate, paid monthly. Distributions are not guaranteed, may vary and may include return of capital, and a distribution rate is not a total return.

A quality factor ETF selects companies using financial measures of business strength. QUSA selects U.S. large-cap and mid-cap companies using High Profitability, Low Earnings Variability and Low Leverage, but it is also an income fund: it adds an options portfolio that seeks a 15% annual distribution rate, paid monthly. That options overlay means QUSA’s results can differ from a quality portfolio held without options.

Owning quality stocks directly gives you their full upside and their income. QUSA holds a focused portfolio of U.S. quality companies and writes calls on it, giving up part of the upside for option premium paid as monthly distributions that seek a 15% annual distribution rate. QUSA charges a 0.95% expense ratio, and its distributions may include return of capital.

QUSA selects its stocks with a quality screen, High Profitability, Low Earnings Variability and Low Leverage, across U.S. large-cap and mid-cap companies. Four other Target 15® funds (OMAH, ACKY, DRKY, TPRY) generally mirror the publicly disclosed holdings of investment firms, and SIOO generally mirrors the S&P 100. All six seek a 15% annual distribution rate, paid monthly. QUSA’s expense ratio is 0.95%, as stated Nov 12, 2026.

VistaShares does not rank funds, and no single covered call ETF fits every investor. QUSA writes calls on a portfolio of U.S. quality companies and seeks a 15% annual distribution rate, paid monthly. When comparing covered call ETFs, look at what each fund holds, how it writes options, the sources of its distributions including return of capital, its fees and its risks, and discuss them with your financial advisor.

QUSA’s ticker is QUSA, its CUSIP is 45259A464, and its shares are listed on the NYSE. The full name is VistaShares Target 15® USA Quality Income ETF.

You can buy QUSA through any brokerage account that offers U.S.-listed ETFs: search for the ticker QUSA and place an order during market hours. Shares trade at market prices that may differ from NAV, and commissions and bid-ask spreads may apply. A financial advisor can also buy QUSA for you.

Yes: one share, purchased through a brokerage account. What one share costs depends on QUSA’s market price when you buy, which is shown with its as-of date on the fund page; your broker may also charge a commission.

QUSA’s expense ratio is 0.95%, as stated on the fund page on Nov 12, 2026. This annual fee, expressed as a percentage of the Fund’s assets, is reflected in NAV rather than billed to you separately. See the prospectus for full fee details.

QUSA’s inception date is May 6, 2025. As a recently organized fund, QUSA has a limited operating history on which investors can base decisions.

QUSA is a listed ETF and can generally be held in an IRA or other retirement account at a brokerage firm that offers ETFs, subject to the firm’s rules. Tax treatment of distributions, including return of capital, can differ in a retirement account. Consult a tax advisor.

QUSA is listed on the NYSE in the United States. VistaShares ETFs are US-listed, so international investors should check with their local broker whether they can buy them.

The QUSA fund page shows current figures with their as-of dates: distribution rate, 30-day SEC yield, NAV, market price, holdings and performance, plus the distribution calendar and Section 19(a) notices. The fund information line is (844) 875-2288.

QUSA’s fund page links its prospectus, summary prospectus, statement of additional information (SAI) and shareholder reports; you can also request them by calling (844) 875-2288. Read the prospectus before investing.

QUSA’s main risks include equity market risk; options and derivatives risk, including the limit on gains from writing calls; focused portfolio risk; strategy risk; and new fund risk. Distributions are not guaranteed, may vary greatly and may include return of capital. Investments involve risk, including possible loss of principal.

Options risk in QUSA is the risk that its options portfolio reduces returns or behaves differently from its stocks. Option prices are volatile and depend on the value and anticipated volatility of the underlying stocks, time to expiration, and policy, political and economic events. Writing calls also limits QUSA’s gains when its quality stocks rally. Investments involve risk, including possible loss of principal.

QUSA holds a relatively focused portfolio of U.S. quality companies, with exposure to fewer issuers than many other ETFs. That can increase the risk that poor performance by one or a few holdings reduces the Fund’s value. Investments involve risk, including possible loss of principal.

Equity market risk in QUSA is the risk that the U.S. large-cap and mid-cap stocks it holds drop in value, suddenly and unpredictably or over long periods. Common stockholders have inferior rights to receive payment compared with preferred stock and debt holders. A quality screen does not remove this risk. Investments involve risk, including possible loss of principal.

Strategy risk in QUSA is the risk that companies selected for High Profitability, Low Earnings Variability and Low Leverage do not perform as expected. Their shares remain exposed to changing market conditions, increased competition and evolving regulation, any of which could hurt their performance, and past financial strength does not ensure future results. The value of your investment may decline. Investments involve risk, including possible loss of principal.

QUSA is designed to seek high monthly income, targeting a 15% annual distribution rate paid monthly, and provides core large/mid cap equity exposure focused on high quality companies, defined by High Profitability, Low Earnings Variability and Low Leverage. Writing calls limits gains in strong rallies, the portfolio is focused, and distributions are not guaranteed and may include return of capital. Whether QUSA is appropriate depends on your objectives and circumstances; discuss it with your financial advisor and read the prospectus.