ETF Evaluator:
Adaptiv™ Select ETF ()
Follow This ETF
(as of Aug 26)
Best Performing in Mid-Cap Blend Over the Last Year
| 58.8% | Castellan Targeted Equity ETF (CTEF) |
| 53.8% | Invesco S&P Spin-Off ETF (CSD) |
| 43.0% | Counterpoint Quantitative Equity ETF (CPAI) |
| 40.8% | Optimize Strategy Index ETF (OPTZ) |
| 37.3% | Tema U.S. Manufacturing & Reshoring ETF (WELD) |
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Risk
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ETF Details
Adaptiv™ Select ETF Overview
Adaptiv™ Select ETF (ADPV) is an actively managed U.S. Equity Mid-Cap Blend exchange-traded fund (ETF). Adaptive ETF launched the ETF in 2022.
The investment seeks long-term capital appreciation when the broad U.S. equity market is in an uptrend; it's secondary objective is to limit drawdowns during broad U.S. equity market downtrends.
To achieve its investment objective of long-term capital appreciation, the fund will invest substantially all of its net assets in a portfolio of publicly-listed equity securities of U.S. large capitalization companies during broad U.S. equity market uptrends. The fund will primarily own common stocks, but may also invest in equity securities of REITS to the extent such REITS are among the 1,000 largest capitalized U.S.-listed stocks. It is non-diversified.
About Adaptiv™ Select ETF (ADPV)
There are 6 members of the management team with an average tenure of 3.74 years: Andrew Serowik (2022), Gabriel Tan (2022), Todd Alberico (2022), Brian Cooper (2022), David Zarling (2022) and Ian McMillan (2022). Management tenure is more important for actively managed ETFs than passive index ETFs.
The ETF has 1 primary benchmark: S&P 500 (TR) (1970) index with a weighting of 100%. Adaptiv™ Select ETF has 29 securities in its portfolio. The top 10 holdings constitute 45.7% of the ETF’s assets. The ETF meets the SEC requirement of being classified as a nondiversified fund. The ETF is not considered to have an ESG focus with its investment selection and management.
Adaptiv™ Select ETF is part of the Equity global asset class and is within the U.S. Equity ETF group. Adaptiv™ Select ETF has 8.6% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 89.6% There is 8.6% 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). Adaptiv™ Select ETF has 1.9% of the portfolio in cash.
Assets Under Management
The fund has $178 million in total assets, which is below the $4 billion average for the Mid-Cap Blend 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.
ADPV 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 Adaptiv™ Select ETF expense ratio is high compared to funds in the Mid-Cap Blend category. Adaptiv™ Select ETF has an expense ratio of 1.00%, which is 122% higher than its category average, making the fund expense ratio grade a F. 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. Adaptiv™ Select ETF has a portfolio turnover rate of 299%, which indicates that it holds its assets around / 0.0 years. By way of comparison, the average portfolio turnover is 84% for the Mid-Cap Blend category.
Recently, in the month of July 2026, Adaptiv™ Select ETF returned -7.3%, which earned it a grade of F, as the Mid-Cap Blend category had an average return of -1.6%. 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.
Adaptiv™ Select ETF has a trailing yield of 0.67%, which is below the 0.85% category average.
The fund normally distributes its income annually and its capital gains annually.
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.
Adaptiv™ Select ETF Grades
Year to date, the ETF has returned 4.4%, 9.6 percentage points worse than the category, which translates into a grade of F. The fund has returned 12.2% over the past year (grade of F) and 20.6% over the past three years (grade of A).
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ADPV Trailing NAV Total Returns Data as of 7/31/26
| Last Month |
Last Quarter |
Ann'l. 1Yr |
Ann'l. 3Yr |
Ann'l. 5Yr |
Ann'l. 10Yr |
|
| ADPV Return (NAV) | -7.3% | 1.2% | 12.2% | 20.6% | na | na |
| ADPV Return (Price) | -7.4% | 1.2% | 12.4% | 20.6% | na | na |
| NAV +/- Price Return | 0.118% | 0.030% | -0.158% | -0.085% | na | na |
| Mid-Cap Blend Avg | -1.6% | 4.4% | 20.8% | 14.8% | 8.8% | 11.6% |
| ADPV Grade (NAV) | F | F | F | A | na | na |
| +/- Category (NAV) | -5.7% | -3.1% | -8.6% | 5.7% | na | na |
| ADPV Tax-Cost Ratio | na | na | 0.3% | 0.2% | na | na |
ADPV Annual NAV Total ReturnsData as of 7/31/26
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
| ADPV Return (NAV) | 4.4% | 21.1% | 44.0% | -0.5% | na | na | na | na | na | na | na |
| ADPV Return (Price) | 4.4% | 21.2% | 43.9% | -0.6% | na | na | na | na | na | na | na |
| NAV +/- Price Ret | 0.007% | 0.005% | -0.002% | 0.339% | na | na | na | na | na | na | na |
| Mid-Cap Blend Avg | 14.0% | 10.6% | 16.1% | 16.9% | -14.4% | 23.3% | 15.6% | 27.4% | -9.1% | 19.1% | 14.8% |
| ADPV Grade (NAV) | F | A | A | F | na | na | na | na | na | na | na |
| +/- Category | -9.6% | 10.5% | 27.9% | -17.4% | na | na | na | na | na | na | na |
| Risk Measures | |
| Beta: | 1.07 |
| R-Squared: | 50% |
| Standard Deviation: | 19.7% |
| Category Risk Index: | 1.26 |
| Category Risk Rating: | High |
| Total Risk Index: | 1.61 |
| Total Risk Rating: | Above Average |
| Portfolio Characteristics | |
| Yield: | 0.7% |
| Total Assets: | $ 178 Mil |
| Share Class Assets: | $ 178 Mil |
| Turnover: | 299.0% |
| Expense Ratio: | 1.00% |
| Index Fund: | No |
| Index Tracked: | S&P 500 (TR) (1970) |
| Index Weighting: | 100% |
| Leveraged: | No |
| Socially Responsible Fund: | No |
| Capital Gains Distribution Frequency: | Annually |
| Income Distribution Frequency: | Annually |
Management Team
| Number of Managers: 6 | |||
| Longest Tenure: 3.7 years | |||
| Average Tenure: 3.7 years | |||
| Managers (Year): Serowik Andrew (2022), Tan Gabriel (2022), Alberico Todd (2022), Cooper Brian (2022), Zarling David (2022), McMillan Ian (2022) | |||
Portfolio Composition (as of 7/31/26)
| # of Holdings: | 29 |
| % in Top 10 Holdings: | 45.7% |
| Fund is Non-Diversified: | Yes |
| % in Foreign Issues: | 8.6% |
Portfolio Allocation |
|
| Domestic Stock: | 89.6% |
| Foreign Stock: | 8.6% |
| Preferred Stock: | 0.0% |
| Domestic Bond: | 0.0% |
| Foreign Bond: | 0.0% |
| Convertible Bond: | 0.0% |
| Other: | -0.0% |
| Cash: | 1.9% |
Purchase Information
| Legal Structure: | Open Ended Investment Company |
| Fund Family: | Adaptive ETF |
| Phone Number: | 800-617-0004 |
| Website: | |
| Inception Date: | November 3, 2022 |
Expenses and Fees
| Expense Ratio (%): | 1.00% (Rating: High) |
| Category Average Expense Ratio (%): | 0.45% |
