Global X - Adaptive U.S. Risk Management ETF
ONOF
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- Global X Adaptive U.S. Risk Management ETF (ONOF) is an exchange-traded fund that seeks investment results corresponding generally to the price and yield performance, before fees and expenses, of the Adaptive Wealth Strategies U.S. Risk Management Index. The fund dynamically allocates 100% of its portfolio to either U.S. equities, benchmarked against the Solactive GBS US 500 Index as a proxy for the S&P 500, or short-term U.S. Treasuries with 1-3 years to maturity, based on four equally weighted technical indicators: moving average, MACD, drawdown, and volatility; this tactical risk-on/risk-off strategy aims to capture equity upside during positive trends while mitigating drawdowns in adverse conditions. Top holdings typically include large-cap U.S. technology and growth stocks such as NVIDIA Corp., Apple Inc., and Microsoft Corp., with sector exposures led by technology (approximately 35%), financial services, communication services, consumer cyclical, and healthcare. Launched on January 12, 2021, and domiciled in the United States, ONOF trades on NYSE Arca with a net expense ratio of 0.39% and has grown net assets to approximately $138 million as of late 2025. The fund targets investors seeking tactical asset allocation in the tactical allocation category (Morningstar), primarily institutional and retail participants focused on U.S. market risk management. ONOF was introduced through a strategic partnership between issuer Global X Management Company LLC and index provider Adaptive Wealth Strategies, building on their prior collaboration with the Global X Adaptive U.S. Factor ETF (AUSF); this alliance leveraged Adaptive's quantitative model to address post-2008 market volatility concerns. Managed by a team including Nam To, Wayne Xie, Vanessa Yang, and Sandy Lu (since 2022), the ETF continues as part of Global X's core offerings amid the provider's broader expansions, including the October 2025 launch of the Global X AI Semiconductor & Quantum ETF (CHPX) to capture AI hardware innovation and growth in assets under management surpassing $60 billion. Global X, founded in 2008 and headquartered at 605 Third Avenue in New York, NY, operates as a subsidiary of Mirae Asset Financial Group following its 2018 acquisition.