What Is the ADPV ETF? Returns, Expense Ratio, Holdings, and Alternative ETFs at a Glance
The Adaptive Select ETF (ADPV) is a rules-based active momentum ETF that rotates between US large-cap stocks and short-term Treasuries according to market trends, aiming to participate in rallies while defending against declines. Management fees, dividends, and the trend-switching method are the key selection criteria, and an outlook check is needed.
SubscribeWhat Is the Adaptive Select ETF?
It is a rules-based active ETF that assesses the trend of the US large-cap market and moves between large-cap stocks and short-term Treasuries. It raises its large-cap weighting in rising markets and defends with short-term Treasuries in falling markets.
Using a trend-following approach that also seeks downside protection, it suits investors who want exposure to US large caps.
It is an ETF managed actively by Adaptive.
How Does the Adaptive Select ETF Invest?
| Item | Details |
|---|---|
| Tracking Index | Actively managed (does not track an index) |
| Management Style | Active (rules-based trend switching) |
| Rebalancing Frequency | As needed, based on trend signals |
| Dividend Frequency | Annual dividend |
| Total Expense Ratio | 1.00% |
| Manager | Adaptive |
Using its own rules-based model to judge the trend of the US stock market, the fund invests most of its net assets in a portfolio of US-listed large-cap stocks during uptrends and shifts its weighting to short-term Treasuries during downtrends. Because it is non-diversified, it may be concentrated in a small number of holdings.
- Structure that switches between stocks and Treasuries based on trend signals
- Limiting drawdowns in falling markets is stated as a secondary objective
Adaptive Select ETF Size and Costs (AUM and Management Fee)
Assets under management (AUM) stand at $176.1M, and the total expense ratio is 1.00% per year.
Adaptive Select ETF Performance and Trends
1-Year Price Performance
Dividend & Yield
52-Week Price RangeBy nature of trend following, the fund tends to move with large caps in rising markets and to ease volatility by switching to Treasuries in falling markets. Performance can vary depending on how late the signal comes at the time of a switch.
Demand for active switching ETFs tends to stand out during periods of market volatility. Fund flows fluctuate with the market's preference for trend strategies and its risk-off sentiment.
Adaptive Select ETF Pros and Cons
Its attempt at trend-based downside protection is a strength, while a high management fee and delayed switching signals can work against it.
💪 Key Strengths
⚠️ Points to Watch
Adaptive Select ETF Alternatives and Related Products
DYNF, THRO, and JMEE shown in the table are comparison candidates in the same active category. They are ETFs that use factor and theme rotation, and their fees tend to be lower than those of ADPV. Meanwhile, for a direct substitute that captures the trend and momentum approach in a simpler factor format, you can consider the momentum factor ETF MTUM, and if you want active exposure to innovative growth, ARKK is also worth reviewing.
Peer Comparison ETFs| Ticker | Name | Price | Change | AUM | Total Expense Ratio | Dividend Yield | 1Y |
|---|---|---|---|---|---|---|---|
 DYNF | iShares U.S. Equity Factor Rotation Active ETF | $67.98 | -0.6% | $42.2B | 0.26% | 0.83% | +14.5% |
 THRO | iShares U.S. Thematic Rotation Active ETF | $43.56 | -0.3% | $7.4B | 0.57% | 0.3% | +14.6% |
 ARKK | ARK Innovation ETF | $81.99 | +0.2% | $6.0B | 0.75% | - | -6.8% |
 JMEE | JPMorgan Small & Mid Cap Enhanced Equity ETF | $73.65 | -0.5% | $2.9B | 0.24% | 0.98% | +14.9% |
 PSC | Principal U.S. Small-Cap ETF | $67.91 | -0.0% | $2.7B | 0.38% | 0.59% | +19.0% |
Top Holdings| Ticker | Name | Weight | Price | Change | Market Cap | P/E | Dividend Yield |
|---|---|---|---|---|---|---|---|
| INTC | Intel Corp | 0.11% | $86.96 | +1.7% | $459.7B | - | 0.05% |
 ARWR | Arrowhead Pharmaceuticals Inc | 0.05% | $58.02 | -0.6% | $8.2B | - | - |
| HPE | Hewlett Packard Enterprise Co | 0.05% | $56.69 | +2.2% | $75.3B | 29.6 | 1% |
| SNDK | Sandisk Corp | 0.05% | $1238.03 | -1.8% | $178.9B | 17.0 | - |
 VTRS | Viatris Inc | 0.05% | $18.00 | -2.6% | $20.7B | - | 2.88% |
 AMKR | AMKOR Technology Inc | 0.04% | $39.30 | +0.6% | $9.8B | 17.6 | 0.88% |
 VIAV | Viavi Solutions Inc | 0.04% | $30.44 | +0.5% | $7.5B | - | - |
 ROIV | Roivant Sciences Ltd | 0.04% | $36.49 | -2.6% | $26.4B | - | - |
 HST | Host Hotels & Resorts Inc | 0.04% | $24.72 | -0.6% | $16.9B | 16.6 | 6.37% |
Adaptive Select ETF Investor Checkpoints
These are the key points to review before investing in ADPV. The trend-switching structure, the management fee, and holding concentration resulting from non-diversification directly affect performance, so it is important to understand them thoroughly in advance.
| Checkpoint | What to Check | Current Status |
|---|---|---|
| 💵 Management Fee | Check the cumulative cost burden of the active strategy | Somewhat high |
| 🔄 Switching Structure | Understand the stock-to-Treasury switching rules | Rules-based management |
| 📊 Concentration | Holding concentration risk of non-diversified management | Concentration possible |
| 💱 Exchange Rate | Impact on returns converted into Korean won | No currency hedge applied |
Delayed switching signals and holding concentration from non-diversification are the main risk factors. In a sideways market, trend strategies can see costs and performance drag accumulate from frequent switching.
It is an active ETF that pursues downside protection through rules-based trend switching, and investors are advised to understand its costs and switching method before investing. If the goal is simply large-cap exposure, a low-fee core ETF may be more suitable.
SubscribeDisclaimer: This content is for informational purposes only and does not constitute investment advice. All investment responsibility lies with the investor.
This article reflects information as of June 19, 2026.
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