AMAX vs NOEQ
Adaptive Hedged Multi-Asset Income ETF against Northern Trust US Equity ETF: cost, size, returns, what they hold and how much of it is the same.
Overlap by weight
13%
1 shared positions
Fee gap
124 bp
NOEQ is cheaper
1-year return gap
—
Larger fund
NOEQ
$876M
Side by side
| AMAX | NOEQ | |
|---|---|---|
| Fund | Adaptive Hedged Multi-Asset Income ETF | Northern Trust US Equity ETF |
| Issuer | Adaptive | Northern Trust FlexShares |
| Category | Multisector Bond | Total Market |
| Expense ratio | 1.36% | 0.12% |
| Assets | $64M | $876M |
| Average daily dollar volume | $396K | $434 |
| Listed | Oct 2, 2009 | Mar 20, 2026 |
| FrenzyCap score | 13 | 48 |
| 1-month return | −3.3% | −0.5% |
| 3-month return | +0.0% | +4.9% |
| Year to date | −5.9% | — |
| 1-year return | −11.7% | — |
| 30-day volatility | 12.9% | 10.0% |
| Worst drawdown, 1 year | −12.4% | −3.7% |
| Trailing 12-month yield | 12.11% | 0.41% |
| Holdings | 21 | 410 |
| Top 10 weight | 80.3% | 60.0% |
| Look-through P/E | — | 28.0 |
| Holdings vs fair value | — | +1.8% |
| Holdings above 200-day average | — | 70% |
| Net flow, latest 3 reported months | +$16M thru May 2026 | −$96K thru Jun 2026 |
| 30-day implied volatility | — | — |
| Holdings as of | as of May 31, 2026SEC filing | as of Oct 15, 2026third-party data |
Returns are price returns and exclude distributions. Flows are each fund's own latest reported months and may not cover the same period.
Largest shared holdings
13% of AMAX · 13% of NOEQ| Holding | AMAX | NOEQ |
|---|---|---|
| SPY | 13.13% | 13.40% |
Sector mix of the stock holdings
| Sector | AMAX | NOEQ | Gap |
|---|---|---|---|
| Technology | 0.0% | 22.3% | −22.3% |
| Health Care | 0.0% | 11.9% | −11.9% |
| Industrials | 0.0% | 11.3% | −11.3% |
| Financials | 7.3% | 3.2% | +4.1% |
| Energy | 0.0% | 8.5% | −8.5% |
| Consumer Discretionary | 0.0% | 7.6% | −7.6% |
| Consumer Staples | 0.0% | 0.7% | −0.7% |
| Materials | 0.0% | 0.4% | −0.4% |
| Utilities | 0.0% | 0.4% | −0.4% |
| Communication Services | 0.0% | 0.3% | −0.3% |
| Real Estate | 0.0% | 0.1% | −0.1% |
| Other | 0.0% | 0.0% | −0.0% |
More: full overlap table · AMAX holdings · NOEQ holdings
Fund data comes from each fund's SEC filings and issuer disclosures and is shown with the date it is as of. SEC portfolio and flow filings become public about 60 days after the period they cover. Nothing here is investment advice; see Terms.