May the Trend Be With You: ADPV Rejoins the Rally
ADPV ETF Recap: May 2025
With the S&P 500 seeing its 5-day moving average cross back above its 200-day moving average in mid-May, the Adaptiv Select ETF moved back into equities:
With seven months left in the year, ADPV now lags the S&P 500 for 2025:1
Holdings Recap
Since moving back into equities on May 19th, the fund’s holdings have seen mixed results, with Amer Sports (AS), Robinhood Markets (HOOD), Palantir Technologies (PLTR), and MP Materials (MP) coming out as the top performers:
Overall Sector Exposure
As mentioned above, ADPV’s “risk-on” signal was triggered on May 16th, with the 5-day moving average closing below the 200-day moving average (as of a Friday) on the S&P 500. The strategy is now fully invested in equities:2
*Concentration guidelines for ADPV are based on GICS Sub-Industry/Tier 4
With the move back into equities, ADPV is now overweight Materials, Consumer Discretionary, Energy, Financials, and Utilities:
The Adaptiv Select strategy sold its short-term U.S. Treasury Bills and moved back into 25 individual securities, per the strategy.
Market Commentary from a Technical Perspective
The evidence continues to grow that the ‘tariff scare’ was just a short-term correction. The S&P 500 has moved back above key areas of support and resistance, including the highs from July 2024, the 200-day moving average, the Election gap (November 2024), and the all-important horizontal level of 5850. While it was a fast move off the April lows, we have consolidated nicely over the past couple of weeks. While markets need time to rest, usually done via price or time, we like the “time” strategy. This is much more constructive behavior than if we were to simply head right back down to work off current overbought conditions. Foreign markets also continue to act well, along with assets like Bitcoin. As a whole, it does seem like the risk-on environment is back on track.
Explore the strategy before it strikes back. Why Invest in ADPV ⟶
1 The performance quoted represents past performance and does not guarantee future results. The investment return and principal will fluctuate. Investor’s shares, when sold or redeemed, may be worth more or less than the original cost. Current performance may be lower or higher than the performance quoted. For the most recent month-end performance and standardized performance, please visit www.adpvetf.com.
2 Holdings are subject to risk and change. You can find a full list of up-to-date holdings HERE.
Carefully consider the Funds' investment objectives, risk factors, charges and expenses before investing. This and additional information can be found in the Fund’s prospectus and Summary Prospectus, which may be obtained by visiting https://adpvetf.com/investor-materials. Read the prospectus and Summary Prospectus carefully before investing.
Investing involves risk, including possible loss of principal.
To the extent the Fund’s investments are concentrated in or have significant exposure to a particular issuer, industry or group of industries, or asset class, the Fund may be more vulnerable to adverse events affecting such issuer, industry or group of industries, or asset class than if the Fund’s investments were more broadly diversified. Active management by the Adviser in selecting and maintaining a portfolio of securities that will achieve the Fund’s investment objective could cause the Fund to underperform compared to other funds having similar investment objectives. For longer periods of time, the Fund may hold a substantial cash position. If the market advances during periods when the fund is holding a large cash position, the Fund may not participate to the extent it would have if the Fund had been more fully invested The Adviser relies heavily on a quantitative model developed by the Adviser, which is used to value and rank investments or potential investments, to provide risk management insights and to assist in reducing extending declines in in the Fund’s net asset value. When models and data prove to be incorrect, misleading, or incomplete, any decisions made in reliance thereon will expose the Fund to risks.
Distributed by: Quasar Distributors, LLC.
"For Institutional Investors Use Only. Not for Use with the Retail Public"
Carefully consider the Funds' investment objectives, risk factors, charges and expenses before investing. This and additional information can be found in the Fund’s Prospectus and Summary Prospectus, which may be obtained by visiting https://adpvetf.com/investor-materials. Read the Prospectus and Summary Prospectus carefully before investing.
Distributed by: Quasar Distributors, LLC.
Investing involves risk, including possible loss of principal. To the extent the Fund’s investments are concentrated in or have significant exposure to a particular issuer, industry or group of industries, or asset class, the Fund may be more vulnerable to adverse events affecting such issuer, industry or group of industries, or asset class than if the Fund’s investments were more broadly diversified.
Active management by the Adviser in selecting and maintaining a portfolio of securities that will achieve the Fund’s investment objective could cause the Fund to underperform compared to other funds having similar investment objectives. For longer periods of time, the Fund may hold a substantial cash position. If the market advances during periods when the fund is holding a large cash position, the Fund may not participate to the extent it would have if the Fund had been more fully invested.
The Adviser relies heavily on a quantitative model developed by the Adviser, which is used to value and rank investments or potential investments, to provide risk management insights and to assist in reducing extending declines in the Fund’s net asset value. When models and data prove to be incorrect, misleading, or incomplete, any decisions made in reliance thereon will expose the Fund to risks.
Shares are bought and sold at market price (closing price) not net asset value (NAV) and are not individually redeemed from the Fund. Market price returns are based on the midpoint of the bid/ask spread at 4:00pm Eastern Time (when NAV is normally determined) and do not represent the return you would receive if you traded at other times.
Investment advisory services are provided by Client First Investment Management LLC, an SEC-registered investment adviser. The firm only transacts business in states where it is properly registered or is excluded or exempted from registration requirements. Registration as an investment adviser is not an endorsement of the firm by securities regulators and does not mean the adviser has achieved a specific level of skill or ability.