ETF Evaluator:
RH Tactical Outlook ETF ()
Follow This ETF
(as of Aug 25)
Best Performing in Tactical Allocation Over the Last Year
| 31.2% | Relative Sentiment Tactical Allc ETF (MOOD) |
| 27.5% | RH Tactical Rotation ETF (RHRX) |
| 25.2% | Cambria Global Momentum ETF (GMOM) |
| 24.3% | STF Tactical Growth ETF (TUG) |
| 23.1% | Alexis Practical Tactical ETF (LEXI) |
Risk
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Risk
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ETF Details
RH Tactical Outlook ETF Overview
RH Tactical Outlook ETF (RHTX) is an actively managed Allocation Tactical Allocation exchange-traded fund (ETF). Adaptive ETF launched the ETF in 2012.
The investment seeks total return through a combination of capital appreciation and current income,with a secondary goal of downside protection.
The fund is an actively managed ETF, it will not seek to replicate the performance of an index. The adviser seeks to achieve the fund’s investment objective of total return by investing in ETFs that are registered under the Investment Company Act of 1940, as amended (the “1940 Act”) and not affiliated with the fund (together, the “portfolio funds”). The fund may invest 0-100% of its assets in equity and in fixed income securities based on the optimal allocation suggested by the advisor’s research.
About RH Tactical Outlook ETF (RHTX)
There are 1 members of the management team with an average tenure of 10.05 years: Scott Wetherington (2016). Management tenure is more important for actively managed ETFs than passive index ETFs.
The ETF has 2 primary benchmarks: Morningstar US Total Market TR USD index with a weighting of 100% and Morningstar Mod Agg Tgt Risk TR USD index with a weighting of 100%. RH Tactical Outlook ETF has 7 securities in its portfolio. The top 10 holdings constitute 99.0% of the ETF’s assets. The ETF meets the SEC requirement of being classified as a diversified fund. The ETF is not considered to have an ESG focus with its investment selection and management.
RH Tactical Outlook ETF is part of the Allocation global asset class and is within the Allocation ETF group. RH Tactical Outlook ETF has 0.8% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 74.7% There is 0.8% 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). RH Tactical Outlook ETF has 9.0% of the portfolio in cash.
Assets Under Management
The fund has $7 million in total assets, which is below the $144 million average for the Tactical Allocation 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.
RHTX 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 RH Tactical Outlook ETF expense ratio is high compared to funds in the Tactical Allocation category. RH Tactical Outlook ETF has an expense ratio of 1.51%, which is 55% 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. RH Tactical Outlook ETF has a portfolio turnover rate of 44%, which indicates that it holds its assets around / 0.0 years. By way of comparison, the average portfolio turnover is 261% for the Tactical Allocation category.
Recently, in the month of July 2026, RH Tactical Outlook ETF returned -0.9%, which earned it a grade of C, as the Tactical Allocation category had an average return of -1.4%. 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.
RH Tactical Outlook ETF has a trailing yield of 0.00%, which is below the 2.15% 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.
RH Tactical Outlook ETF Grades
Year to date, the ETF has returned 5.3%, 2.1 percentage points worse than the category, which translates into a grade of D. The fund has returned 16.0% over the past year (grade of C), 12.2% over the past three years (grade of B) and 5.6% per year over the past five years (grade of C) and 7.5% per year over the past 10 years (grade of C).
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RHTX 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 |
|
| RHTX Return (NAV) | -0.9% | -0.5% | 16.0% | 12.2% | 5.6% | 7.5% |
| RHTX Return (Price) | -2.2% | 0.2% | 15.2% | 12.0% | 5.5% | 7.4% |
| NAV +/- Price Return | 1.316% | -0.680% | 0.712% | 0.196% | 0.136% | 0.069% |
| Tactical Allocation Avg | -1.4% | 1.6% | 15.9% | 10.6% | 5.4% | 7.4% |
| RHTX Grade (NAV) | C | D | C | B | C | C |
| +/- Category (NAV) | 0.5% | -2.1% | 0.0% | 1.6% | 0.2% | 0.0% |
| RHTX Tax-Cost Ratio | na | na | 0.0% | 0.0% | 0.0% | 0.6% |
RHTX Annual NAV Total ReturnsData as of 7/31/26
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
| RHTX Return (NAV) | 5.3% | 14.6% | 18.3% | 7.6% | -19.7% | 21.3% | -0.5% | 17.0% | -0.9% | 17.2% | 5.1% |
| RHTX Return (Price) | 4.6% | 15.0% | 18.7% | 7.0% | -19.7% | 21.4% | -0.5% | 17.0% | -0.9% | 17.2% | 5.1% |
| NAV +/- Price Ret | -0.147% | 0.022% | 0.021% | -0.073% | 0.001% | 0.002% | 0.000% | 0.0% | 0.0% | 0.0% | 0.0% |
| Tactical Allocation Avg | 7.5% | 12.7% | 11.7% | 10.7% | -13.3% | 16.9% | 7.5% | 14.0% | -6.3% | 19.2% | 7.1% |
| RHTX Grade (NAV) | D | B | A | C | F | B | D | C | A | D | D |
| +/- Category | -2.1% | 1.9% | 6.6% | -3.2% | -6.4% | 4.4% | -8.0% | 3.0% | 5.4% | -2.1% | -2.0% |
| Risk Measures | |
| Beta: | 1.07 |
| R-Squared: | 70% |
| Standard Deviation: | 12.0% |
| Category Risk Index: | 1.02 |
| Category Risk Rating: | Above Average |
| Total Risk Index: | 0.98 |
| Total Risk Rating: | Below Average |
| Portfolio Characteristics | |
| Yield: | 0.0% |
| Total Assets: | $ 8 Mil |
| Share Class Assets: | $ 8 Mil |
| Turnover: | 44.4% |
| Expense Ratio: | 1.51% |
| Index Fund: | No |
| Index Tracked: | Morningstar US Total Market TR USD |
| Index Weighting: | 100% |
| Leveraged: | No |
| Socially Responsible Fund: | No |
| Capital Gains Distribution Frequency: | Annually |
| Income Distribution Frequency: | Annually |
Management Team
| Number of Managers: 1 | |||
| Longest Tenure: 10.1 years | |||
| Average Tenure: 10.1 years | |||
| Managers (Year): Wetherington Scott (2016) | |||
Portfolio Composition (as of 7/31/26)
| # of Holdings: | 7 |
| % in Top 10 Holdings: | 99.0% |
| Fund is Non-Diversified: | No |
| % in Foreign Issues: | 0.8% |
Portfolio Allocation |
|
| Domestic Stock: | 74.7% |
| Foreign Stock: | 0.8% |
| Preferred Stock: | 0.0% |
| Domestic Bond: | 0.0% |
| Foreign Bond: | 0.0% |
| Convertible Bond: | 0.0% |
| Other: | 15.6% |
| Cash: | 9.0% |
Purchase Information
| Legal Structure: | Open Ended Investment Company |
| Fund Family: | Adaptive ETF |
| Phone Number: | 800-773-3863 |
| Website: | www.ncfunds.com |
| Inception Date: | September 20, 2012 |
Expenses and Fees
| Expense Ratio (%): | 1.51% (Rating: High) |
| Category Average Expense Ratio (%): | 0.97% |
