ADPV ETF Recap: January 2026

Stocks got off to a decent start this year, dipping a little bit in late January but finishing the month with a 1.37% gain. The Adaptiv Select ETF, coming off another winning year in 2025, was able to capture a little bit of outperformance on the month, up 1.94%:1

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With the January 2026 returns now in the book, trailing 1-year performance for the S&P 500 and ADPV now come to 14.9% and 12.5%, respectively:

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Further, trailing 2-year performance comes in at 43.20% and 77.7%, respectively:

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Holdings Recap

Top performers for the month of January included Western Digital (WDC), Intel (INTC)*, Amkor Technology (AMKR), RocketLab (RKLB), Millicom International (TIGO), AngloGold Ashanti (AU), APi Group (APG), and AGNC Investment (AGNC):

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Holdings that lagged during the month included Rivian Automotive (RIVN)*, QuantumScape (QS)*, Lyft (LYFT)*, SoFi Technologies (SOFI)*, Macy’s (M), and Warner Bros Discovery (WBD)*:

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*Denotes holding that is no longer in the portfolio

 

Overall Sector Exposure

January saw a few shifts among sector weightings. Financials grew from 21% to 25%. Technology is now down to just 8% of the portfolio (from 14% in December). Real Estate and Energy are back in, although with just one holding each so far. Consumer Discretionary has dropped from 17% down to 13%. Utilities also fell from 8% to 3%. 2

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Following the January reconstitution, ADPV is overweight Materials, Consumer Discretionary, Energy, Financials, Healthcare, and Real Estate. There are no holdings tied to the Consumer Staples sector.

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There was very little movement in January, with just three trades across the entire month:

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Market Commentary from a Technical Perspective

January brought in positive returns, which gives us a positive January Barometer for 2026. While not a magical statistic, this usually bodes well for the remainder of the year. With a positive first month, the S&P 500 ends the year positive 89% of the time, with an average return of 16.9% in those years. We have seen the Nasdaq 100 stall out since October, which has been a headwind for the S&P 500. However, Small Caps and Mid Caps have held their own, adding on to their outperformance from Q4. On top of that, foreign equities, also continue their strong march higher. The US Dollar continues to falter, which may or may not be a small tailwind here in the US, but it is certainly boosting international equities. The risk-off behavior across the cryptocurrency landscape has yet to spill into broad equities, which is a good sign, as sometimes the stock indices will trade in sympathy with any surprise shocks to bigger players like Bitcoin, which peaked in early October.

 

 

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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.

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