Adaptive Hedged Multi-Asset Income ETF
$7.61−0.10 (−1.23%)
- Expense ratio
- 1.36%
- Fund size
- $76M
- 1Y return
- +3.9%
- Yield · Last 12 months
- 11.69%
- Holdings
- 16
- Volume · 30D
- 0.1M sh
- NAV per share
- $7.65
- 52W range
The ETF.net AMAX Grade
Score 30 of 100 sits in the D band. Bands: A ≥ 70, B ≥ 55, C ≥ 40, D ≥ 25, F < 25; the scale skips E.
Cost
What you pay to own it — the expense ratio plus trading frictions, ranked within its category.FScore 0Category rankMission
How faithfully it does the job it claims — tracking its mandate or index with minimal slippage.CScore 43Category rankRisk
How violently it can move — volatility, drawdown depth, and downside capture versus its category.DScore 27Category rankTradability
How cheaply and easily you can get in and out — liquidity, spread, and premium/discount stability.AScore 71Category rankHoldings
What it actually owns — the quality, breadth, and concentration of the underlying portfolio.DScore 27Category rankDurability
Whether it will still be here — the fund’s assets, age, flows, and issuer staying power.CScore 51Category rank
Our read on AMAX
DA one-ticker income blend that chases total return from both price gains and payouts, and pays out monthly. The trade-off is the price tag: 1.36% a year, well above what most allocation funds charge.
The Fund seeks total return through capital appreciation and current income.
Why people hold it
- Designed as a whole portfolio in one line item: the fund seeks total return from capital appreciation and current income, not one or the other.
- Pays monthly rather than quarterly, so income lands on the same rhythm as most household bills.
- Trading since 2021, so it has a live record through a rate shock instead of a back-test.
Worth knowing
- At 1.36% a year, it costs several times what index allocation funds like AOA and IRTR charge, a hurdle the strategy has to clear first.
- A small fund that does not trade heavily, so bid-ask spreads tend to run wider than at the giants of the allocation aisle.
- The prospectus discloses distributions may include return of capital, meaning part of a monthly payment can be your own principal coming back.
AMAX Holdings
- Other
- 16
- 100%
- Cash
Sectors
Geography
AMAX Performance
Shows how $10,000 changes over the selected period, with cash distributions reinvested at the closing price on each ex-dividend date.
Returns run to the Sep 22, 2026 close, with cash distributions reinvested. Each period starts on the same date that many months or years earlier. Periods over one year show the average yearly return.
| Period | AMAX |
|---|---|
| Year to date | +4.6% |
| 1 month | +0.1% |
| 3 months | +2.4% |
| 1 year | +3.9% |
| 3 years | +10.4% |
| 5 years | — |
| 10 years | — |
Calendar-year total return with cash distributions hypothetically reinvested at the ex-dividend date’s closing price. The current year shows year to date.
| Year | Return bar | AMAX |
|---|---|---|
| 2026 YTD | +4.6% | |
| 2025 | +11.3% | |
| 2024 | +9.7% | |
| 2023 | +6.7% | |
| 2022 | −12.5% | |
| 2021 | −0.2% |
AMAX in the news
ETF.net Research hasn’t filed on AMAX yet — coverage lands here as it’s written.
AMAX Dividends
- 11.69%
- $0.89
- $0.08 per share
- Monthly
Distribution history
| Ex-date | Pay date | Amount per share |
|---|---|---|
| Aug 28, 2026 | Aug 31, 2026 | $0.08 |
| Jul 30, 2026 | Jul 31, 2026 | $0.07 |
| Jun 29, 2026 | Jun 30, 2026 | $0.08 |
| May 28, 2026 | May 29, 2026 | $0.08 |
| Apr 29, 2026 | Apr 30, 2026 | $0.08 |
| Mar 30, 2026 | Mar 31, 2026 | $0.08 |
| Feb 26, 2026 | Feb 27, 2026 | $0.08 |
| Jan 29, 2026 | Jan 30, 2026 | $0.08 |
| Dec 30, 2025 | Dec 31, 2025 | $0.07 |
| Nov 26, 2025 | Nov 28, 2025 | $0.07 |
| Oct 30, 2025 | Oct 31, 2025 | $0.07 |
| Sep 29, 2025 | Sep 30, 2025 | $0.07 |
AMAX Risk
- 9.3%
How it’s calculated: standard deviation
The sample standard deviation of monthly total returns, multiplied by the square root of 12.
Uses up to 36 complete months, with at least 12 required. Total returns include reinvested distributions.
- 0.48
How it’s calculated: Sharpe ratio
Subtract each month’s Treasury-bill return from the fund’s monthly total return.
Divide the average of those excess returns by their sample standard deviation, then multiply by the square root of 12.
Uses up to 36 complete months, with at least 12 required. Each month uses the Treasury yield quoted at the end of the previous month.
- −16.2%
How it’s calculated: maximum drawdown
The largest percentage decline from an earlier peak, using total returns with reinvested distributions.
Uses up to five years through the last close, with at least 12 months required.
- 0.89
How it’s calculated: beta
The beta figure is supplied by FMP. The comparison index depends on the fund’s broad asset class.
AMAX Cost
- The middle half of Multi-Asset Income funds
- Median 0.65%
Every other Multi-Asset Income fund charges less.