A selectorized dumbbell has nested stacks of left and right weight plates, a handle that can be disposed between the two stacks of weight plates, and a selector that couples selected numbers of the left and right weight plates to left and right planar ends of the handle. The handle has at least one loop type hand grip located above the ends of the handle and above the weight plates to allow the dumbbell to be used as a kettlebell. This loop type hand grip can be replaced with a bar type hand grip if the dumbbell is to be used like a standard dumbbell, or the handle can be provided in kettlebell or standard versions thereof. Alternatively, the loop type hand grip can be movably disposed on the handle for movement between operative and non-operative positions.