At a glance
RULE charges 1.84% a year, above the 0.2% average of the 1 funds most like it. It has $17.2M in assets. Over the past year it returned +27.9% with distributions reinvested (S&P 500: +11.5%); over three years it returned +19.5% a year. At its worst it fell 23.3% in the 2022 bear market (S&P 500: 24.5%), and was back at its earlier high 40 months after the low. Its ten largest positions make up 41.9% of the fund, out of 34 in all.
The short version
Adaptive Core ETF (RULE), from Retireful, LLC, is an actively managed fund that uses software-scored price trends to shift among stocks, stock and bond ETFs, and cash. As of June 30, 2026, it held mostly individual stocks, led by Seagate, Micron and Corning, with a heavy tilt toward technology. Its 1.84% expense ratio (yearly fee) is far above the 0.20% of NTSX, the closest fund by holdings.
Price history
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RULE +27.9% 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 | |
|---|---|---|---|---|---|---|
| RULE official prospectus, to Dec 31, 2025 | — | +4.31% | — | — | — | -1.62% |
| RULE price data to Oct 27, 2026 | +29.9% | +27.9% | +19.5% | — | — | +3.5% |
- Over the year to Oct 27, 2026, RULE returned +27.9%.
- Its worst full calendar year was 2022 (-22.9%); its best was 2024 (+7.6%).
- The deepest fall in its price history was 30.5% (Nov 8, 2021 to Oct 27, 2023), recovered by Jan 27, 2026.
Show as a table
| Year | Price data | Prospectus (official) |
|---|---|---|
| 2026 (to date) | +29.9% | — |
| 2025 | +4.6% | +4.31% |
| 2024 | +7.6% | +7.69% |
| 2023 | +6.3% | +6.38% |
| 2022 | -22.9% | -22.69% |
| 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 | Before this security existed |
| 2022 bear market stocks fell Jan 3, 2022 – Oct 12, 2022 | Lost 23.2% over that stretch · deepest drop along the way 23.3%, back to its old high 39.7 months after the low |
Dividends and income
Show as a table
| Year | Per share | Change |
|---|---|---|
| 2023 | $0.4100 | +20400.0% |
| 2022 | $0.0020 |
What's inside
As of Jun 30, 2026, the fund held 34 securities; the ten largest made up 41.89% of assets, and 2.95% sat in cash and money-market holdings.
| Holding | Weight | |
|---|---|---|
| SEAGATE TECHNOLOGY HOLDINGS PUBLIC LIMITED COMPANY | 6.00% | |
| MICRON TECHNOLOGY, INC. | 5.75% | |
| CORNING INCORPORATED | 5.45% | |
| LAM RESEARCH CORPORATION | 4.50% | |
| KLA CORPORATION | 4.21% | |
| ADVANCED MICRO DEVICES, INC. | 3.75% | |
| INTEL CORPORATION | 3.15% | |
| DELL TECHNOLOGIES INC. | 3.07% | |
| CUMMINS INC. | 3.07% | |
| JPMORGAN ULTRA SHORT INCOME ETF Other | 2.94% | |
| CATERPILLAR INC. | 2.87% | |
| MARVELL TECHNOLOGY, INC. | 2.83% | |
| ALPHABET INC. | 2.81% | |
| INVESCO EXCHANGE TRADED FUND TRUST INVESCO S P 5 Other | 2.80% | |
| PALO ALTO NETWORKS, INC. | 2.68% |
By country
United States 81.25%Ireland 8.13%Singapore 2.68%Finland 2.27%By asset type
Stocks 81.13%Other 13.2%By sector
Sectors of the companies held, for the 61.9% 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 Jun 30, 2026. Cash, money-market funds and derivatives are shown separately from the securities list.What changed recently
- Over the three months to Jun 30, 2026, investors added a net $57K (creations minus redemptions, per the N-PORT report).
- Monthly total returns reported for that quarter: +15.68%, +16.21%, +8.17%.
How it works
RULE is actively managed and follows no index. Retireful, LLC uses proprietary software that studies the prices of stocks and ETFs to spot upward and downward trends. Several formulas are blended into a composite score for each candidate that signals when to buy, when to sell and how long to hold. Among similarly scored ETFs, cheaper and more heavily traded ones win. After an unexpected event, the software may signal a shift of the whole portfolio into cash or money market ETFs.
The mandate is broad: stocks of any size, convertibles (bonds or preferred shares that can turn into stock), bond ETFs including junk bonds (lower-rated, riskier debt), and foreign and emerging market issuers. Up to 100% can sit in one asset class or style. The prospectus describes roughly thirty ETFs, but on June 30, 2026, about 81% of assets were individual stocks, 11% other funds and 3% cash, across 34 holdings. The top 10 made up 42%; technology, at least 39%.
Trading is frequent: the prospectus reports 348% portfolio turnover, meaning holdings were replaced about three and a half times over a year. That raises trading costs and can produce short-term capital gains, which are taxed at higher rates in taxable accounts. The fund held no derivatives on June 30, 2026, and is not leveraged.
What it really costs
- RULE charges 1.84% a year, versus an average of 0.2% for the similar funds below.
- Of that, 0.7% is the management fee; the rest covers other fund expenses.
- Using the prospectus's standard example, $10,000 invested would cost about $187 in the first year and $2,159 over 10 years (assuming a 5% annual return).
| Cost of $10,000 (SEC example) | 1 yr | 3 yrs | 5 yrs | 10 yrs |
|---|---|---|---|---|
| RULE | $187 | $579 | $995 | $2,159 |
In a retirement portfolio
Its concentrated bets on technology stocks, a 30.5% peak-to-trough drop and a 1.84% expense ratio point to a higher-risk add-on rather than a foundation.
RULE launched in November 2021, so it has no record in the 2008 financial crisis or 2020 COVID crash. It fell about 23% in the 2022 bear market, and 2022 was its worst calendar year, down 22.69%. Its deepest drop, 30.5%, bottomed on October 27, 2023, well after the broad market's 2022 low, and it did not regain its November 2021 peak until January 27, 2026. Although the adviser says it suits people wanting smaller swings, a retiree selling near those lows would have locked in steep losses.
It paid no distributions in the year through October 27, 2026, so it offers no income. Costs are high: the SEC's standard example ($10,000 growing 5% a year) shows $187 in costs after one year and $2,159 over 10 years. Past results don't predict future ones, and any plan needs to look at the whole portfolio, not one fund.
Who it may suit — and who should look elsewhere
May suit
- Investors who want a trend-following manager free to move among stocks, bond ETFs and cash, including a full shift to cash after a shock.
- Those comfortable with concentrated bets on chip and hardware stocks such as Seagate, Micron, Lam Research and KLA, as held on June 30, 2026.
- Investors using a tax-advantaged account such as an IRA, where 348% turnover and any short-term gains won't trigger yearly tax bills.
Look elsewhere if
- Cost-focused investors: its 1.84% expense ratio dwarfs the 0.20% charged by NTSX, the fund with the closest holdings.
- Retirees seeking regular income, since it made no distributions in the year through October 27, 2026.
- Anyone wanting the smaller swings the adviser describes: it fell 30.5% from its November 2021 peak and took until January 2026 to recover.
Close alternatives
Matched by closest holdings overlap from the latest N-PORT reports (no similar fund shares 20% or more of its holdings).
| Fund | Overlap | Cost | Net assets | 1 yr | 3 yr |
|---|---|---|---|---|---|
| RULE this fund | — | 1.84% | $17.2M | +27.9% | +19.5% |
| NTSX WisdomTree U.S. Efficient Core Fund | 16% | 0.2% | $1.36B | +8.7% | +23.0% |
Questions investors ask
What does the RULE ETF invest in?
Mostly individual stocks. As of June 30, 2026, stocks made up about 81% of assets, other funds about 11% and cash about 3%, across 34 holdings. The largest were Seagate Technology (6.0%), Micron Technology (5.7%), Corning (5.4%), Lam Research (4.5%) and KLA (4.2%), and technology made up at least 39% of assets. Because the fund is actively managed with 348% turnover, the mix can change quickly, up to a full move into cash or money market ETFs.
Is RULE ETF low risk?
No, judging by its record. The adviser says it suits investors who prefer to minimize swings in principal, but it fell 30.5% from November 8, 2021 to October 27, 2023, and did not recover until January 27, 2026. As of October 27, 2026, its one-year volatility (how widely returns swing) was 28.2%, and its beta was 1.66, meaning it tended to move about 1.66 times as much as the overall stock market. Its largest positions on June 30, 2026, were mostly chip and hardware companies.
How has the RULE ETF performed?
Unevenly. According to its prospectus, it lost 22.69% in 2022, then gained 6.38% in 2023, 7.69% in 2024 and 4.31% in 2025, an average annual return of -1.62% from its November 2021 launch through December 31, 2025. Based on price, it then rose 29.9% in 2026 through October 27, a partial year, and 27.9% over the year to that date. Over three years to October 27, 2026, it returned 19.5% a year.
Does RULE ETF pay dividends?
No, not in the year through October 27, 2026. It made no distributions, so its yield over that period was 0%. That fits its stated objective, which is capital appreciation rather than income. The prospectus does warn that frequent trading may produce more short-term capital gains than other funds; if paid out, those are taxed as ordinary income in taxable accounts. It offers nothing for investors who depend on regular payouts.
RULE vs NTSX: what's the difference?
Cost and size are the biggest gaps. NTSX, the WisdomTree U.S. Efficient Core Fund, is the closest fund to RULE by holdings, though their overlap is only 16%. NTSX charges 0.20% a year versus RULE's 1.84%, and had about $1.36 billion in net assets on June 30, 2026, against RULE's $17.2 million. As of October 27, 2026, RULE led over one year (27.9% vs 8.7%), while NTSX led over three years (23% vs 19.5% a year).