Adaptive Alpha Opportunities ETF

AGOX

Market cap $367M

The AGOX ETF, despite its 5-star Morningstar rating, shows inconsistencies and warning signs, making me hesitant to recommend it. AGOX is a momentum-driven hedge fund in an ETF structure, but its portfolio contradicts its advertised fund-of-ETFs strategy. The fund's small management team raises concerns about the sophistication of its proprietary quantitative model and overall investment process.

AGOX ETF seeks capital appreciation through a mix of index ETFs, individual securities, fixed income assets, and derivatives. Despite its relatively high expense ratio and lack of impressive historical performance, AGOX has underperformed the market. The ETF's holdings are heavily weighted towards sensitive sectors, leading to poor performance during market downturns.

The National Basketball Association (NBA) has so-called "superteams" that boast multiple superstars on one roster. Is there an equivalent in the investment world?