ADPV ETF Recap: July 2025

After an impressive 8.9% gain in June, the Adaptiv Select ETF was at it again in July, posting a 10.3% return for the month. The benchmark index (S&P 500) returned 2.3% for the same time period:1

 

The Adaptiv Select ETF is now back ahead of the S&P 500 for 2025, up 12.6% (vs. 7.8%) with a little less than half the year remaining:

 

Holdings Recap

Many of the strong performers for ADPV in June were also big performers in July, including names like MP Materials (MP), Roblox Corp (RBLX), SoFi Technologies (SOFI), Tapestry (TPR), Palantir Technologies (PLTR) and Robinhood Market (HOOD) all posting double-digit gains for the month:
 

 

Laggards for July include holdings such as Dutch Bros (BROS), Lyft (LYFT), Exelis (EXEL), SLM Corp (SLM), EQT Corp (EQT), and CNH Industrial (CNH):

 

Overall Sector Exposure

While there was very little reconstitution in terms of subtractions/additions to the portfolio, we did see some impressive shifting of sector exposure during the month. The fund now has just an 11% weighting in Technology, compared to 34% for the benchmark. Basic Materials saw a big jump, largely coming from the move in MP Materials, which was up nearly 100% for the month. On top of that, Communication Services has seen another shift higher.2

*Concentration guidelines for ADPV are based on GICS Sub-Industry/Tier 4

 

 

Following the July reconstitution, ADPV remains overweight Materials, Communication Services, Energy, Financials, Industrials, and Utilities:

The Adaptiv Select strategy had just two trades in July, both occurring in the first week:

 

Market Commentary from a Technical Perspective

With the S&P 500 regaining its respective 200 day moving average in mid May, we returned to our bullish stance on the market, as evidenced by the move in ADPV from T-bills back to equities. Since that event, the S&P 500 has returned 6.4% with the fund up 15.6%. We also mentioned last month that major indices like the S&P 500 and Nasdaq 100 had completed their push to new all-time highs, confirming the recovery and setting a positive outlook for stocks for the remainder of 2025. On the other hand, breadth under the surface has diverged a bit from the major indices, with many stocks still not above their May/June highs. This could eventually lead to a bit of short- to intermediate-term volatility. And we know that August is usually a bit of a “messy” month when it comes to trends. It would not be shocking to see indices work off some of the momentum from the last few months. As long as the S&P 500 stays above the 6100-6150 area, the trend stays intact.

 

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Momentum waits for no one — hit the gas with ADPV. Why Invest in ADPV ⟶

 

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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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