AMAX Performance — Adaptive Hedged Multi-Asset Income ETF
Data updated: 2026-09-28
AMAX returned +5.25% year to date and +13.08% over one year to May 2026. The annualised 3-year return is +9.44%. The fund trailed its US Multi-Cap Blend category average: $100 invested three years ago grew to $131, against $147 for the category, and to $113 over one year, against $119. Volatility over the past three years was 8.08% a year. In the 12 months to May 2026 the fund took in a net $42.2M, and assets reached $63.84M.
AMAX Growth of $100
What $100 invested in Adaptive Hedged Multi-Asset Income ETF grew to, compounded from monthly returns reported on SEC Form N-PORT, against the US Multi-Cap Blend category average over the same months.
| Period | AMAX | Category average |
|---|---|---|
| 1 year (Jun 2025 – May 2026) | $113 | $119 |
| 3 years (Jun 2023 – May 2026) | $131 | $147 |
| Since data start (Sep 2021 – May 2026) | $120 | $133 |
AMAX Trailing Returns
Total returns to May 2026, from SEC N-PORT.
| Period | Total return |
|---|---|
| YTD | +5.25% |
| 1 year | +13.08% |
| 3 years (annualised) | +9.44% |
AMAX Annual Returns
Calendar-year total returns of Adaptive Hedged Multi-Asset Income ETF, compounded from monthly SEC N-PORT returns. Partial years show the months covered.
| Year | Total return |
|---|---|
| 2026 (Jan–May) | +5.25% |
| 2025 | +11.48% |
| 2024 | +9.12% |
| 2023 | +6.54% |
| 2022 | −12.36% |
| 2021 (Sep–Dec) | +0.29% |
AMAX Monthly Returns
Monthly total returns as reported on SEC Form N-PORT.
| Year | Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | +3.5% | +1.9% | −4.3% | +3.4% | +0.9% | — | — | — | — | — | — | — |
| 2025 | +1.8% | −1.1% | −3.2% | +2.8% | +3.6% | +2.3% | +1.0% | +1.0% | +4.0% | +0.5% | −0.3% | −1.3% |
| 2024 | +0.8% | +2.9% | +3.4% | −3.1% | +2.4% | +0.7% | +1.3% | +1.4% | +1.1% | −0.5% | +0.5% | −1.9% |
| 2023 | +4.9% | −2.5% | +0.6% | +1.0% | +0.1% | +1.3% | +0.3% | −1.4% | −4.4% | −1.4% | +4.6% | +3.5% |
| 2022 | −3.5% | +1.0% | +0.4% | −3.6% | −1.8% | −2.2% | +2.4% | −4.1% | −5.1% | +3.5% | +2.2% | −1.9% |
| 2021 | — | — | — | — | — | — | — | — | −2.2% | +1.6% | −1.4% | +2.3% |
AMAX Risk
Risk measures from monthly returns over Jun 2023 – May 2026.
- 3-year volatility (annualised): 8.08%
- 3-year Sharpe ratio: 0.61 (vs 4.5% risk-free rate)
- Best month: +4.63% (Nov 2023)
- Worst month: −4.36% (Sep 2023)
AMAX Fund Flows
Monthly money in and out of Adaptive Hedged Multi-Asset Income ETF, from SEC Form N-PORT.
- 12-month net flow: $42.2M
- 12-month gross sales (incl. reinvestments): $45.8M
- Sales ÷ redemptions: 12.68×
| Month | Sales | Redemptions | Net flow |
|---|---|---|---|
| May 2026 | $4.0M | $0 | $4.0M |
| Apr 2026 | $9.1M | $0 | $9.1M |
| Mar 2026 | $3.0M | $0 | $3.0M |
| Feb 2026 | $1.9M | $975K | $950K |
| Jan 2026 | $5.6M | $0 | $5.6M |
| Dec 2025 | $4.8M | $2.6M | $2.2M |
| Nov 2025 | $4.6M | $0 | $4.6M |
| Oct 2025 | $1.2M | $0 | $1.2M |
| Sep 2025 | $4.3M | $0 | $4.3M |
| Aug 2025 | $6.5M | $0 | $6.5M |
| Jul 2025 | $160K | $0 | $160K |
| Jun 2025 | $392K | $0 | $392K |
AMAX Assets Under Management
Net assets of Adaptive Hedged Multi-Asset Income ETF by report date, from SEC N-PORT filings.
| Report date | Net assets |
|---|---|
| 2026-05-31 | $63.84M |
| 2026-02-28 | $49.39M |
| 2025-11-30 | $40.11M |
| 2025-08-31 | $29.48M |
| 2025-05-31 | $22.03M |
| 2025-02-28 | $22.35M |
| 2024-11-30 | $22.16M |
| 2024-08-31 | $19.24M |
| 2024-05-31 | $18.98M |
| 2024-02-29 | $18.20M |
| 2023-11-30 | $35.60M |
| 2023-08-31 | $31.58M |
For information only. Not investment advice: figures are as reported in SEC filings and may contain errors or be out of date. Past performance does not guarantee future results.