AMAXAdaptive Hedged Multi-Asset Income ETF
Seeks total return through capital appreciation and current income.
Adaptive ETF · Since 2009 (16 years)
1.36%
#5158 out of 5,332 ETFs
$50M
#3351 out of 5,332 ETFs
10.56%
16 years
#722 out of 5,332 ETFs
Performance
1 Year
+17.0%
3 Years
+9.8%
5 Years
N/A
What's inside
Top holdings
Risk profile
10.0%
Moderate
-16.3%
Worst peak-to-trough loss
0.63
Decent risk-adjusted returns
0.88
Moderate downside risk
Similar ETFs
Our 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
Data updated on 2026-05-05