DEWALT 1/4 in. Hex MAXFIT Pivot Holder can pivot and drive bits straight on and/or up to a pivoted angle of 20 degrees whereas the DWAPVTMF2 (black shank) can drive bits straight on only.
Hello John, DWAPVTMF2: hog ring , pivots 15 degrees and compatible with 1" bits DWAPVTMF: has a 20 degree pivot and used for 1/4 bits
Exchange it for a working one.
The bit will have to be pulled out of the bit tip holder.
The bit was so hard to remove even pliers didn't help. I finally put it through the teardrop-shaped eye of a flat wrecking bar, slid it down to the narrow end until only the bit stuck out the other side, and clamped the bit in a vice. I lifted gently on the end of the bar and the holder popped right off.