AMAX vs NULC

Comparison between ADAPTIVE HEDGED MULTI-ASSET INCOME ETF (AMAX, ETF) and NUVEEN ESG LARGE-CAP ETF (NULC, ETF).

5-Year PerformanceNULC has outperformed AMAX, delivering a return of +10.5% compared to +3.0%

AMAX vs NULC - Performance Comparison

Log

Key Characteristics

Financial metrics and valuation ratios

Metric	AMAX(ETF)	NULC(ETF)
Net Assets	$65M	$65M
Expense Ratio	1.36%	0.21%
Max Drawdown	28.31%	34.86%
Sharpe Ratio	0.20	1.15
5Y Beta	0.38	0.95
P/E Ratio	N/A	30.54
Forward P/E	N/A	21.88
PEG Ratio	N/A	0.55
5Y Dividends CAGR	N/A	28.20%
5Y EPS CAGR	N/A	24.74%
Debt to Equity	N/A	37.17%
P/S Ratio	N/A	3.47
P/B Ratio	N/A	5.73

Net Assets

AMAX

$65M

Winner

NULC

$65M

Expense Ratio

AMAX

1.36%

Winner

NULC

0.21%

Max Drawdown

Winner

AMAX

28.31%

NULC

34.86%

Sharpe Ratio

AMAX

0.20

Winner

NULC

1.15

5Y Beta

Winner

AMAX

0.38

NULC

0.95

P/E Ratio

AMAX

N/A

NULC

30.54

Forward P/E

AMAX

N/A

NULC

21.88

PEG Ratio

AMAX

N/A

NULC

0.55

5Y Dividends CAGR

AMAX

N/A

NULC

28.20%

5Y EPS CAGR

AMAX

N/A

NULC

24.74%

Debt to Equity

AMAX

N/A

NULC

37.17%

P/S Ratio

AMAX

N/A

NULC

3.47

P/B Ratio

AMAX

N/A

NULC

5.73

AMAX vs NULC - Historical Returns

Returns include dividend reinvestment.

Period	AMAX	NULC
1 month	-1.22%	+0.08%
3 months	-2.05%	+6.91%
6 months	-2.50%	+10.48%
1 year	+4.95%	+20.04%
5 years(CAGR)	+3.00%	+10.55%
Max(CAGR)	+3.00%	+15.21%

AMAX

-1.22%

Winner

NULC

+0.08%

AMAX

-2.05%

Winner

NULC

+6.91%

AMAX

-2.50%

Winner

NULC

+10.48%

AMAX

+4.95%

Winner

NULC

+20.04%

5Y(CAGR)

AMAX

+3.00%

Winner

NULC

+10.55%

Max(CAGR)

AMAX

+3.00%

Winner

NULC

+15.21%

AMAX vs NULC - Annual Returns (2019 - 2026)

Returns include dividend reinvestment.

Year	AMAX	NULC
2026	+1.20%	+12.67%
2025	+10.82%	+16.03%
2024	+10.07%	+19.28%
2023	+6.91%	+22.98%
2022	-12.46%	-20.16%
2021	-0.20%	+27.44%
2020	N/A	+21.57%
2019	N/A	+16.89%

AMAX vs NULC Drawdown Comparison

The maximum drawdown for AMAX was -16.26%, occurring on Oct 14, 2022. Recovery took 595 trading sessions.

The maximum drawdown for NULC was -34.86%, occurring on Mar 23, 2020. Recovery took 122 trading sessions.

The current AMAX drawdown is -5.58%. The current NULC drawdown is -1.75%.

Rank	AMAX	NULC
#1	-16.26% Nov 17, 2021 - Apr 3, 2024	-34.86% Feb 19, 2020 - Aug 12, 2020
#2	-9.26% Feb 19, 2025 - May 14, 2025	-27.85% Nov 8, 2021 - Feb 2, 2024
#3	-7.51% Jan 28, 2026 - May 8, 2026	-18.49% Dec 4, 2024 - Jun 26, 2025
#4	-6.96% May 11, 2026 - Jun 30, 2026	-8.91% Jan 29, 2026 - Apr 15, 2026
#5	-5.73% Jul 17, 2024 - Aug 19, 2024	-8.86% Sep 2, 2020 - Nov 9, 2020
#6	-5.38% Oct 20, 2025 - Jan 22, 2026	-8.75% Jul 16, 2024 - Sep 16, 2024
#7	-3.54% Apr 3, 2024 - May 20, 2024	-6.24% Mar 28, 2024 - May 21, 2024
#8	-2.95% Dec 11, 2024 - Jan 22, 2025	-5.65% Oct 28, 2025 - Dec 10, 2025
#9	-2.23% Nov 8, 2024 - Dec 11, 2024	-5.57% Jul 24, 2019 - Sep 12, 2019
#10	-2.01% Jan 31, 2025 - Feb 19, 2025	-5.34% Sep 3, 2021 - Oct 21, 2021
#11	-2.00% Jan 22, 2025 - Jan 31, 2025	-5.32% Feb 16, 2021 - Mar 15, 2021
#12	-1.89% Jun 13, 2025 - Jul 2, 2025	-4.92% Jun 2, 2026 - Jul 10, 2026
#13	-1.69% May 20, 2025 - Jun 6, 2025	-4.20% Apr 26, 2021 - Jun 4, 2021
#14	-1.62% May 20, 2024 - Jun 17, 2024	-3.95% Jan 20, 2021 - Feb 4, 2021
#15	-1.62% Jun 20, 2024 - Jul 9, 2024	-3.72% Sep 12, 2019 - Oct 21, 2019