ADPV Rides High in Nov with 17.36% Gain

ADPV ETF Recap: November 2024

The Adaptiv Select ETF had a strong October and finished November in great fashion as well, ending the month up 17.36%. The fund’s benchmark, the S&P 500, finished the month with a solid 5.30% gain. ADPV has now outperformed its benchmark for 9 out of 11 months in 2024.1

 

ADPV performance for the year (through 11/30/2024) now stands at 56.85%. Its benchmark, the S&P 500, has YTD of 27.19%.

 

Holdings Recap

With the positive move for broad indices after the US Presidential election, many stocks saw strong returns in November. And many of those names were big winners even before this month. This should come as no surprise, as the momentum factor has had a very strong 2024 overall. The biggest winners within ADPV were AppLovin (APP), Palantir Technologies (PLTR), Robinhood Markets (HOOD), Vistra Corp (VST), MDU Resources (MDU), First Horizon (FHN), and Virtu Financial (VIRT):

 

With such a strong month, there wasn’t a lot of hesitation around the market. Just two names within the Adaptiv Select ETF had negative returns for the month:

 

Overall Sector Exposure

The Adaptiv Select ETF saw another drop in its exposure to the Financial sector, now down to 33% (but still the top weighting). All exposure to Real Estate was dropped. On the other hand, Technology has now doubled, moving from 10% in October to 20% by the end of November.2

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

 

 

Compared to its benchmark, ADPV is overweight Financials, Energy, and Utilities:

November saw another average month of reconstitution in the portfolio, with seven buys and sells for the month, which was the same amount we saw in October and September. We are now (mostly) through earnings season and the election dust has settled, which should bring a quieter end to the year for ADPV.

 

Market Commentary from a Technical Perspective

As we have talked about for the entire year, there is zero reason to not be bullish on equities. This was true before the election and it remains true after. Once again, November gave us very solid performance across all the major indices. If you are a student of seasonality, this should come as little surprise. In fact, we are now 1/6th of the way through the most bullish 6-month stretch for stocks. As of right now, there is no reason to believe that the trend won’t remain higher. Will there be corrections? Sure, of different shapes and sizes. But the long-term uptrends remain intact, which means the Adaptiv Select strategy will remain involved in equities.

 

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ADPV: All Gain, No Pain. Ready to Adapt? Invest Now ⟶

 

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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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