AMAXAdaptive Hedged Multi-Asset Income ETF
Seeks total return through capital appreciation and current income.
By Adaptive ETF · Launched 2009
1.36%
#5,379 of 5,562 · expensive
$64M
#3,347 of 5,562 · mid-size
10.96%
16 years
#704 of 5,562 · established
Performance
Total-return NAV · USDTotal-return NAV, USD. Net of fund fees, before tax.
Classification
How Beacon categorizes this fundAsset class
AlternativeStrategy
Option income
What it actually holds
By weightConcentration
Top 10 holdings = 87.6% of fundconcentrated
Asset allocation
Risk profile
Last 12 months · Sharpe & Sortino need 3+ yearsYear-on-year price swings
Worst peak-to-trough loss
Where to buy
Listing
- Exchange
- NYSE Arca
Full fund details
- Objective
- Seeks total return through capital appreciation and current income.
- Strategy
- Actively managed, the Fund invests in a diversified portfolio of assets to achieve total return. It employs hedging strategies to manage risk while seeking income and growth.
- Inception date
- October 2, 2009
- Fund family
- Adaptive ETF
Similar ETFs
Closest matches by profileOur take
Structural notes on how this fund behaves. Read our guide on the 6 warning signs.
Covered call ETF — yield ≠ total return
The high distribution yield is not free income — it comes from selling upside via call options. Research finds these strategies systematically underperform their underlying index over full cycles, typically by 100–300 basis points per year depending on the option-overlay design. The monthly distributions make the shortfall hard to see in return summaries.
Source: Israelov & Ndong, 'A Devil's Bargain: When Generating Income Undermines Investment Returns' (NDVR, 2023)
Why we flagged this: strategy=option_income + option_income_strategy
Educational analysis of structural product characteristics. Not investment advice. Always read the fund prospectus and consult a qualified advisor before investing. More
What's next?
You've reviewed AMAX. Save it to your watchlist to track it alongside the other funds you're weighing.
Data updated on 2026-06-19