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RULE

GradeFChicago Board Options Exchange

Adaptive Core ETF

Active Equity · Mohr Funds · Inception 2021-11-03 · SEC filings

$30.46−0.17 (−0.57%)

As of Sep 23, 2026, 3:10 PM EDT

History starts Nov 3, 2021.
Intraday session: down, 66 prints from 30.64 to 30.46. Range 30.36 to 30.61. Use the arrow keys to read each point.$30.40$30.50$30.6010 AM12 PM2 PM4 PM
Expense ratio
2.24%
Fund size
$17M
1Y return
+33.9%
Yield · Last 12 months
0.00%
Holdings
36
Volume · 30D
0M sh
NAV per share
$30.30
52W range
low $21.46high $34.42

The ETF.net RULE Grade

F

22/ 100

Rank 119 of 127 in US Active Equity⁠

Confidence High

Six-pillar profile for RULE. Scores out of 100: Cost 2, Risk 26, Mission 23, Tradability 25, Holdings 65, Durability 36. Strongest: Holdings (65). Weakest: Cost (2). Leans toward Holdings.
F< 25
D≥ 25
C≥ 40
B≥ 55
A≥ 70

Score 22 of 100 sits in the F 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 2
    Category rank124/127 · bottom quartile

  • Mission

    How faithfully it does the job it claims — tracking its mandate or index with minimal slippage.
    FScore 23
    Category rank47/48 · bottom quartile

  • Risk

    How violently it can move — volatility, drawdown depth, and downside capture versus its category.
    DScore 26
    Category rank108/126 · bottom quartile

  • Tradability

    How cheaply and easily you can get in and out — liquidity, spread, and premium/discount stability.
    DScore 25
    Category rank104/127 · bottom quartile

  • Holdings

    What it actually owns — the quality, breadth, and concentration of the underlying portfolio.
    BScore 65
    Category rank51/124 · top 41%

  • Durability

    Whether it will still be here — the fund’s assets, age, flows, and issuer staying power.
    DScore 36
    Category rank104/127 · bottom quartile

Graded as of Sep 22, 2026

Our read on RULE

ETF.net Research

FMost S&P 500 income funds sell calls on a schedule and mail out a check. RULE flips the order: long-term capital growth first, income second, with the S&P 500 Total Return Index as its yardstick. The trade-off shows up in the fee.

Stated mandate

The fund seeks long-term growth of capital while also pursuing income.

Why people hold it

  1. 01Growth-first mandate: the stated goal is long-term growth of capital while also pursuing income, not a payout engine that trades away upside for a monthly check.
  2. 02Measured against the S&P 500 Total Return Index, so the bar includes reinvested dividends, not a price-only line that flatters the comparison.
  3. 03A US equity fund with a live record back to its 2021 launch, spanning the 2022 drawdown and the recovery after it, rather than one tape only.

Worth knowing

  1. 01The 1.22% expense ratio sits well above the typical S&P 500 income ETF. Peers such as IVVW and GPIX run their versions for a fraction of that.
  2. 02Small and thinly traded. Spreads can widen and fills get lumpy, so limit orders do real work here.
  3. 03Income is a secondary aim, not a set schedule. Cohort funds built to distribute on a monthly cadence, like JEPI, approach the job differently.

RULE Holdings

As of Sep 22, 2026, 10:44 PM
Asset class
Other
Holdings
36
Top-10 weight
39%
Largest holding
STX6.1%

Sectors

  • Technology55.0%
  • Financials13.3%
  • Industrials6.4%
  • Energy5.8%
  • Health Care5.5%
  • Communication4.6%
  • Materials3.3%
  • Real Estate3.0%
  • Consumer Discr.2.5%
  • Cons. Staples0.5%
  • Utilities0.0%

Geography

  • United States93.66%
  • Singapore6.34%
The fund’s holdings, weight-ordered — page 1 of 3.
#TickerCompanyWeight %SharesMarket valueIn ETFs
001STXSEAGATE TECHNOLOGY-ORDINARY SHARES6.10%1,228$1M434
002MUMICRON TECHNOLOGY INC5.80%982$1M655
003DELLDELL TECHNOLOGIES - CLASS C4.58%1,406$809K427
004—CASH AND CASH EQUIVALENTS3.76%664,136$664K120
005RMMERAREVIEW GOVERNMENT MONEY3.29%5,807$582K5
006JPSTJPMORGAN ULTRA-SHORT INCO3.27%11,483$578K6
007PANWPALO ALTO NETWORKS INC3.26%1,550$576K486
008GOOGLALPHABET INC-CL A3.12%1,553$551K704
009XLGINVESCO S&P 500 TOP 50 ETF3.09%8,481$546K4
010SPHQINVESCO S&P 500 QUALITY E2.94%6,134$520K2
011IWFISHARES RUSSELL 1000 GROWTH2.92%4,084$516K12
012IQVIQVIA HOLDINGS INC COMMON STOCK USD.012.85%1,864$503K290
013VTRSVIATRIS INC2.74%28,296$484K266
014PSXPHILLIPS 662.73%1,842$482K368
015MRVLMARVELL TECHNOLOGY GROUP LTD MRVL2.73%1,873$482K458

Showing 1–15 of 36 holdings

RULE Performance

Shows how $10,000 changes over the selected period, with cash distributions reinvested at the closing price on each ex-dividend date.

RULE$13,389
SPY tracks large US stocks. It provides market context, rather than representing this fund’s strategy, asset class or investment benchmark.$11,723
Sep 22, 2025 to Sep 22, 2026. RULE $13,389. SPY $11,723. Use the arrow keys to read each point.$9,063$12,273$15,482Sep 2025Mar 2026Sep 2026

Sep 22, 2025 – Sep 22, 2026

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.

Trailing total return for RULE. Periods over one year show the average yearly return.
PeriodRULE
Year to date+33.7%
1 month+1.9%
3 months−10.8%
1 year+33.9%
3 years+18.4%per year
5 yearsFund is under 5 years old—per year
10 yearsFund is under 10 years old—per year

As of the close, with distributions reinvested.

Calendar-year total return with cash distributions hypothetically reinvested at the ex-dividend date’s closing price. The current year shows year to date.

Annual total returns for RULE
YearReturn barRULE
2026 YTD+33.7%
2025+4.6%
2024+7.6%
2023+6.3%
2022−22.9%
2021+1.0%

Since listing, Nov 3, 2021

RULE in the news

ETF.net Research hasn’t filed on RULE yet — coverage lands here as it’s written.

RULE Dividends

Adds up every distribution paid per share over the last 12 months, divided by the last completed close. Distributions are counted by ex-date. Data through Sep 22, 2026.
0.00%Last 12 months
Payout per share
NoneLast 12 months

No distributions in the last 12 months.

Distribution history

Payments through 2023

One bar per payment. 2 payments from 2022 to 2023. Dec 27, 2022 $0.0015; Dec 19, 2023 $0.41. Use the arrow keys to read each point.20222023
Ex-datePay dateAmount per share
Dec 19, 2023Dec 21, 2023$0.41
Dec 27, 2022Dec 29, 2022$0.0015

RULE Risk

How much the fund’s monthly returns vary, scaled to a year.
21.0%
Annualised · 36 months to Aug 2026
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.

Return above 3-month US Treasury bills per unit of volatility.
0.59
vs 3-month T-bills · to Aug 2026
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.

The largest fall from a peak to the low that followed.
−30.5%
58 months · trough Oct 2023
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.

How strongly the fund’s returns move with its asset-class index.
1.54
vs its asset-class index
How it’s calculated: beta

The beta figure is supplied by FMP. The comparison index depends on the fund’s broad asset class.

RULE Cost

Expense ratio2.24%
  • The middle half of US Active Equity funds
  • Median 0.70%

118 of the 124 US Active Equity funds charge less.

RULE costs $224.00 a year on $10,000. The median US Active Equity fund costs $70.00.