At a glance
AUSF charges 0.27% a year, below the 0.31% average of the 8 funds most like it (the 5th cheapest of 9). It has $848.1M in assets, the 5th largest of that group; it paid 2.71% of its price in distributions over the past 12 months, quarterly. Over the past year it returned +14.4% with distributions reinvested (S&P 500: +11.5%), 7th of those 9 funds; over three years it returned +21.9% a year. At its worst it fell 44.2% in the 2020 crash (S&P 500: 33.7%) and 14.2% in the 2022 bear market (S&P 500: 24.5%), and was back at its earlier high 10 months and 5 months after the lows. Its ten largest positions make up 16.7% of the fund, out of 195 in all.
The short version
Global X Adaptive U.S. Factor ETF (AUSF) is an index fund that holds about 195 U.S. large and mid-sized stocks. It picks them for value, momentum or low downside volatility and resets the mix among those three styles every quarter. Its 0.27% expense ratio is slightly below the 0.31% average of similar funds. As of May 31, 2026, its largest positions were Verizon, Cisco and AT&T, each about 2% of assets.
Price history
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AUSF +14.4% over the year to Oct 27, 2026, total return with distributions reinvested.
How it has behaved
| YTD | 1 yr | 3 yr | 5 yr | 10 yr | Since start | |
|---|---|---|---|---|---|---|
| AUSF official prospectus, to Dec 31, 2025 | — | +13.48% | — | +15.40% | — | +11.99% |
| AUSF price data to Oct 27, 2026 | +12.8% | +14.4% | +21.9% | +13.9% | — | +12.4% |
- Over the year to Oct 27, 2026, AUSF returned +14.4%, 7th of 9 among similar funds.
- Its 5-year annualized return was +13.9%.
- In the 2020 COVID crash it fell 44.2% and regained its old high 9.5 months after the low.
- Its worst full calendar year was 2022 (-0.2%); its best was 2021 (+27.4%).
- The deepest fall in its price history was 44.2% (Feb 13, 2020 to Mar 23, 2020), recovered by Jan 6, 2021.
Show as a table
| Year | Price data | Prospectus (official) |
|---|---|---|
| 2026 (to date) | +12.8% | — |
| 2025 | +13.7% | +13.48% |
| 2024 | +16.1% | +16.15% |
| 2023 | +22.2% | +22.15% |
| 2022 | -0.2% | -0.09% |
| 2021 | +27.4% | +27.21% |
| 2020 | +1.3% | +1.41% |
| 2019 | +24.1% | +23.77% |
| 2008 financial crisis stocks fell Oct 9, 2007 – Mar 9, 2009 | Before this security existed |
|---|---|
| 2020 COVID crash stocks fell Feb 19, 2020 – Mar 23, 2020 | Lost 44.2% over that stretch · deepest drop along the way 44.2%, back to its old high 9.5 months after the low |
| 2022 bear market stocks fell Jan 3, 2022 – Oct 12, 2022 | Lost 7.4% over that stretch · deepest drop along the way 14.2%, back to its old high 5.2 months after the low |
Dividends and income
Show as a table
| Year | Per share | Change |
|---|---|---|
| 2026 (to date) | $0.9700 | |
| 2025 | $1.3000 | +17.1% |
| 2024 | $1.1100 | +63.2% |
| 2023 | $0.6800 | -12.8% |
| 2022 | $0.7800 | +9.9% |
| 2021 | $0.7100 | -6.6% |
| 2020 | $0.7600 | -28.3% |
| 2019 | $1.0600 |
What's inside
As of May 31, 2026, the fund held 195 securities; the ten largest made up 16.73% of assets.
| Holding | Weight | |
|---|---|---|
| VERIZON COMMUNICATIONS INC. | 2.07% | |
| CISCO SYSTEMS, INC. | 1.99% | |
| AT&T INC. | 1.90% | |
| ROYALTY PHARMA PLC | 1.67% | |
| CBOE GLOBAL MARKETS, INC. | 1.58% | |
| MICROSOFT CORPORATION | 1.55% | |
| LINDE PUBLIC LIMITED COMPANY | 1.50% | |
| TXNM Energy, Inc. | 1.50% | |
| CHART INDUSTRIES, INC. | 1.49% | |
| JOHNSON & JOHNSON | 1.49% | |
| ELECTRONIC ARTS INC. | 1.48% | |
| Amdocs Limited | 1.48% | |
| VERISIGN, INC. | 1.46% | |
| THE TJX COMPANIES, INC. | 1.46% | |
| Altria Group, Inc. | 1.44% |
By country
United States 99.83%By asset type
Stocks 99.83%By sector
Sectors of the companies held, for the 50.5% of the fund in companies that have a stock page here; other holdings and cash aren't classified. Source: N-PORT holdings report as of May 31, 2026. Cash, money-market funds and derivatives are shown separately from the securities list.What changed recently
- Over the three months to May 31, 2026, investors added a net $23.4M (creations minus redemptions, per the N-PORT report).
- Monthly total returns reported for that quarter: +0.16%, +2.23%, -3.67%.
How it works
AUSF tracks the Adaptive Wealth Strategies U.S. Factor Index. NorthCrest Asset Management owns the index, Solactive AG calculates it, and Global X Management Company LLC runs the fund. The index starts with the Solactive U.S. Large & Mid Cap Index, which covers the 1,000 largest U.S.-listed companies by free-float market value (the value of shares available to trade). From that list it builds three sub-indexes of 100 stocks each. Each one is based on a "factor," a trait linked to returns: value (cheap stocks), momentum (the strongest recent performers) and minimum downside volatility (the stocks with the smallest declines).
Every quarter, the index reweights the three sub-indexes based on how each has performed since the last rebalance. It always stays fully invested in at least two of the three. Because the mix can change a lot from one quarter to the next, trading is heavy: portfolio turnover was 74.51%. That means a large share of the holdings is replaced over a year. As of January 31, 2026, the index had 191 stocks.
The fund usually holds the index stocks in about the same proportions as the index. It does not move to cash when markets fall. It may lend securities worth up to one-third of its total assets. Its objective and its index can be changed without a shareholder vote.
What it really costs
- AUSF charges 0.27% a year, versus an average of 0.31% for the similar funds below (5th of 9, cheapest first).
- Using the prospectus's standard example, $10,000 invested would cost about $28 in the first year and $343 over 10 years (assuming a 5% annual return).
| Cost of $10,000 (SEC example) | 1 yr | 3 yrs | 5 yrs | 10 yrs |
|---|---|---|---|---|
| AUSF | $28 | $87 | $152 | $343 |
In a retirement portfolio
It rotates among value, momentum and low-volatility U.S. stocks, so it can behave differently from a fund weighted by company size alongside it.
AUSF may add factor exposure next to a broad index fund for 0.27% a year. In the SEC's standard example, that is $28 in the first year and $343 over 10 years on $10,000. Its trailing yield was 2.71% as of October 27, 2026, and it pays quarterly. Its record in downturns is mixed. In the 2020 COVID crash, it fell 44.2% by March 23, 2020, and did not recover until January 6, 2021, about 9.5 months later. Its worst quarter lost 31.47%. The 2022 bear market went better: its deepest drop was 14.2%, it recovered by November 22, 2022, and it ended the year at -0.09%, its worst calendar year. The fund launched in August 2018, so it has no 2008 record. Anyone selling shares for income in early 2020 would have sold near a 44% loss. Past results don't predict the future, and a plan should look at the whole portfolio, not one fund.
Who it may suit — and who should look elsewhere
May suit
- Investors who want one index fund that rotates among value, momentum and low-volatility U.S. stocks, at 0.27% a year against a 0.31% peer average.
- Income-minded investors who are fine with quarterly payouts; the trailing yield was 2.71% as of October 27, 2026, with Verizon, AT&T and Altria among the top holdings.
- Those who want broad stock spreading: the top 10 holdings made up only 16.7% of assets as of May 31, 2026, across 195 positions.
Look elsewhere if
- Investors focused on the lowest cost: SPDR S&P 1500 Value Tilt ETF (VLU) charges 0.12% and iShares ESG MSCI USA Min Vol Factor ETF (ESMV) charges 0.18%.
- Anyone expecting a low-volatility tilt to soften every crash: AUSF fell 44.2% in early 2020, and its worst quarter lost 31.47%.
- Those who prefer a stable, predictable portfolio: the factor mix resets every quarter, turnover was 74.51%, and the index can change without shareholder approval.
Close alternatives
Matched by holdings overlap from the latest N-PORT reports.
| Fund | Overlap | Cost | Net assets | 1 yr | 3 yr |
|---|---|---|---|---|---|
| AUSF this fund | — | 0.27% | $848.1M | +14.4% | +21.9% |
| HUSV First Trust Horizon Managed Volatility Dome… | 28% | 0.7% | $73.8M | +7.4% | +12.4% |
| VLU SPDR S&P 1500 Value Tilt ETF | 26% | 0.12% | $725.5M | +20.8% | +23.9% |
| FNDX Schwab Fundamental U.S. Large Company ETF | 25% | 0.25% | $27.57B | +25.0% | +22.7% |
| DVY iShares Select Dividend ETF | 25% | 0.38% | $23.47B | +21.5% | +19.2% |
| ESMV iShares ESG MSCI USA Min Vol Factor ETF | 25% | 0.18% | $7.7M | +12.0% | +15.1% |
| PRF Invesco RAFI US 1000 ETF | 24% | 0.33% | $9.80B | +23.3% | +24.9% |
| FNDB Schwab Fundamental U.S. Broad Market ETF | 24% | 0.25% | $1.49B | +22.5% | +24.0% |
Questions investors ask
What does AUSF invest in?
AUSF holds U.S. large and mid-sized stocks chosen by the Adaptive Wealth Strategies U.S. Factor Index. The index picks from three 100-stock groups (value, momentum and low downside volatility) and reweights them every quarter. As of May 31, 2026, the fund held 195 stocks. The largest were Verizon (2.07%), Cisco (1.99%), AT&T (1.90%), Royalty Pharma (1.67%) and Cboe Global Markets (1.58%). The top 10 made up 16.7% of assets.
Does AUSF pay monthly dividends?
No. AUSF pays distributions quarterly, not monthly. Its trailing 12-month yield was 2.71% as of October 27, 2026, or about $1.39 per share over that period. Payouts come from the dividends of the stocks it owns, which have included higher-paying names such as Verizon, AT&T and Altria. The amount can change from quarter to quarter as the index moves between its value, momentum and low-volatility groups.
What is AUSF's expense ratio?
AUSF's expense ratio is 0.27%, according to its prospectus filed March 27, 2026. That is slightly below the 0.31% average of similar funds. In the SEC's standard example ($10,000 invested, 5% yearly return), total costs would be about $28 after one year, $152 after five years and $343 after ten. Turnover was 74.51%, and the trading costs that come with it are not included in the expense ratio.
What's the difference between AUSF and MFUS?
Both funds spread money across several stock factors, but they follow different indexes and share only about 22% of their holdings. PIMCO's RAFI multi-factor U.S. equity ETF (MFUS) charges 0.29%, against 0.27% for AUSF. As of October 27, 2026, MFUS returned 17.8% over one year and 23.9% a year over three years. AUSF returned 14.4% and 21.9% over the same periods. AUSF reweights among value, momentum and low-volatility groups every quarter.
How did AUSF do in the 2020 crash and in 2022?
AUSF fell hard in 2020 and held up well in 2022. It dropped 44.2% from February to March 23, 2020, and did not recover until January 6, 2021. In 2022, its deepest drop was 14.2%, and it ended the year at -0.09%, according to its prospectus. Over the five years through December 31, 2025, it returned 15.4% a year on average. Past results don't predict future returns.