AXSVX — AXS Adaptive Plus Fund
Data updated: 2026-08-21
AXSVX — AXS Adaptive Plus Fund. Long-Short · $34.87M AUM · 2.24% expense ratio. Holdings, fees, performance and SEC filings.
AXSVX Fund Overview
AXSVX — AXS Adaptive Plus Fund is a US mutual fund managed by Investment Managers Series Trust II, categorised as Long-Short. ABC INVEST provides holdings, performance, costs, cashflows, risk data, prospectus documents and SEC filings, sourced from SEC filings.
- Type: US mutual fund
- Manager: Investment Managers Series Trust II
- Category: Long-Short
- Assets under management: $34.87M
- Ticker: AXSVX
- SEC CIK: 0001587982
- SEC series ID: S000077472
- Share class ID: C000237933
AXSVX Investment Objective and Strategy
AXS Adaptive Plus Fund describes its objective and strategy as follows, from its latest prospectus filed with the SEC by Investment Managers Series Trust II.
Investment objective
The investment objective of the AXS Adaptive Plus Fund (the Fund) is to seek capital appreciation in rising and falling U.S. equity markets.
Principal investment strategy
Under normal market conditions, the Fund seeks to achieve its investment objective by investing in equity -linked call options or swaps that provide exposure to the ProfitScore Capital Management, Inc. (ProfitScore) trading program (the Trading Program), which is designed to produce the returns of the ProfitScore Regime -Adaptive Long/Short Equity Index (the Index). The Index provides varying long and short exposure to U.S. equities and cash equivalents, in an effort to offer risk -adjusted performance greater than that of a portfolio equally distributed across U.S. equities and cash equivalents. Determining Index exposure and allocation is performed in two steps: first, determination of the market environment for U.S. equities (i.e., low volatility or high volatility), and second, capturing the short -term price changes (up and/or down) observed in the respective asset classes (i.e., U.S.
equities and cash equivalents) that the Index tracks. Because the Fund cannot invest in the Index directly, the Fund utilizes options and/or swaps to generate returns that correspond directly to the returns of the Trading Program and, indirectly, the Index. The Trading Programs (and therefore the Indexs) investment strategy is based on the concept that equity market efficiency is negatively correlated with volatility. When volatility increases, market efficiency declines, and vice versa. The volatility state of the market determines alpha/beta opportunities. Historically, U.S. equity markets experience low levels of volatility approximately 55% of the time. Low volatility periods are commonly known as bull markets, when longer -term uptrends and the majority of market gains occur. The Indexs U.S.
equity exposure will attempt to systematically capture beta, which is the return generated from a portfolio that can be attributable to the overall market returns, during low volatility regimes. When volatility is elevated, the Index will adjust its U.S. equity exposure in an attempt to generate alpha, which is a measure of the amount that an investment has returned in comparison to the market or benchmark. The overall goal of the Index is to minimize the effect of U.S. equity volatility on the Index while generating gains in bull or bear markets. The options and swaps in which the Fund intends to invest are designed to produce returns similar to the Index. The Fund does not invest more than 25% of its net assets with any one option counterparty or swap contract counterparty, subject to compliance with rules under the Investment Company Act of 1940, as amended (the 1940 Act).
The Funds advisor allocates the Funds assets not invested in options or swaps or used as collateral for such investments in U.S. Government securities, such as bills, notes and bonds issued by the U.S. Treasury, and/or other fixed income securities that are rated investment grade by Standard & Poors, a division of McGraw Hill Companies Inc. (S&P) or Moodys Investors Service, Inc. (Moodys), or are of comparable quality at time or purchase, to generate income. The Fund may invest directly or indirectly in fixed income securities of any maturity. The Fund may also invest in exchange -traded funds (ETFs) or money market funds in order to generate income. The Fund is non -diversified , which means that it can invest a greater percentage of its assets in any one issuer than a diversified fund.
Investing in fewer issuers makes the Fund more susceptible to financial, economic or market events impacting such issuers and may cause the Funds share price to be more volatile than the share price of a diversified fund.
AXSVX Holdings
Top 4 holdings of AXS Adaptive Plus Fund by percentage of net assets, from the fund's latest SEC N-PORT filing.
| Holding | % of net assets |
|---|---|
| Treasury Bill | 28.58% |
| JPMorgan US Government Money M | 26.50% |
| Nomura Galaxy Profit Score Adaptive Regim / | 22.75% |
| Treasury Bill | 22.57% |
AXSVX Portfolio Allocation
Asset-class allocation of AXS Adaptive Plus Fund by percentage of net assets, from the latest SEC N-PORT filing.
| Asset class | Allocation |
|---|---|
| Fixed Income | 51.1% |
| Cash & Equivalents | 26.5% |
| Derivatives | 22.7% |
AXSVX Performance
Total returns for AXSVX (as of 2026-10-01), from SEC filings.
| Period | Total return |
|---|---|
| YTD | 19.2% |
| 1 year | 21.5% |
| 3 years (annualised) | 10.3% |
AXSVX Risk Information
Risk metrics for AXSVX, derived from monthly returns in SEC filings.
- 1-year volatility (annualised): 12.0%
AXSVX Costs and Fees
AXSVX costs about $224 per $10,000 invested per year in fund expenses.
- Net expense ratio: 2.24%
- Gross expense ratio: 2.39%
- Portfolio turnover: 0%
- Brokerage commissions: 1.17 bps of average net assets (SEC N-CEN)
AXSVX Cashflows
Over the 12 months to 2026-06, AXS Adaptive Plus Fund had net outflows of $10.31M, from monthly SEC N-PORT filings.
| Month | Net flow |
|---|---|
| 2026-06 | −$273.98K |
| 2026-05 | $203.23K |
| 2026-04 | −$1.14M |
| 2026-03 | −$596.86K |
| 2026-02 | −$349.75K |
| 2026-01 | −$1.81M |
AXSVX Debt Constituents
Largest debt holdings of AXS Adaptive Plus Fund by percentage of net assets, from the latest SEC N-PORT filing.
| Debt holding | % of net assets |
|---|---|
| Treasury Bill | 28.58% |
| Treasury Bill | 22.57% |
AXSVX Prospectus and SEC Filings
Official AXS Adaptive Plus Fund filings on SEC EDGAR — prospectus, portfolio holdings and annual reports.
- Prospectus supplement (497) — filed 2026-02-04
- Prospectus supplement (497) — filed 2025-02-05
- Prospectus supplement (497) — filed 2024-02-05
- Portfolio holdings (N-PORT) — filed 2026-08-21
- Portfolio holdings (N-PORT) — filed 2026-05-26
- Portfolio holdings (N-PORT) — filed 2026-02-24
- Annual census (N-CEN) — filed 2024-12-12
- Annual census (N-CEN) — filed 2023-12-14
Related Funds
Other Long-Short funds tracked on ABC INVEST:
Data Sources
ABC INVEST compiles this page from public filings made to the U.S. Securities and Exchange Commission (SEC) through EDGAR: portfolio holdings and monthly cashflows from Form N-PORT, expenses and returns from fund prospectuses (Form 485BPOS) and the SEC DERA Risk/Return Summary data sets, annual data from Form N-CEN, and shareholder reports from Form N-CSR.