We present an adaptive interferometer based on the reflection dynamic hologram recorded in photorefractive CdTe:V crystal with no external electric field. Linear phase-to-intensity transformation is achieved by vectorial mixing of two waves with different polarization states (linear and elliptical) in the anisotropic diffraction geometry. Comparison of reflection and transmission geometries considering both sensitivity and adaptability is carried out. It is shown that the reflection geometry is characterized by better combination of these parameters provided that the crystal possesses high enough concentration of photorefractive centers.