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Trending ETFs

Name

As of 09/16/2022

Price

Aum/Mkt Cap

YIELD

Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.

Exp Ratio

Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.

Watchlist

$8.00

$27.3 M

0.06%

$0.00

2.24%

Vitals

YTD Return

-22.2%

1 yr return

-14.7%

3 Yr Avg Return

N/A

5 Yr Avg Return

N/A

Net Assets

$27.3 M

Holdings in Top 10

93.1%

52 WEEK LOW AND HIGH

$8.1
$7.91
$11.80

Expenses

OPERATING FEES

Expense Ratio 2.24%

SALES FEES

Front Load N/A

Deferred Load N/A

TRADING FEES

Turnover 346.41%

Redemption Fee N/A


Min Investment

Standard (Taxable)

$500

IRA

N/A


Fund Classification

Fund Type

Open End Mutual Fund


Name

As of 09/16/2022

Price

Aum/Mkt Cap

YIELD

Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.

Exp Ratio

Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.

Watchlist

$8.00

$27.3 M

0.06%

$0.00

2.24%

TFAUX - Profile

Distributions

  • YTD Total Return -22.2%
  • 3 Yr Annualized Total Return N/A
  • 5 Yr Annualized Total Return N/A
  • Capital Gain Distribution Frequency N/A
  • Net Income Ratio -0.40%
DIVIDENDS
  • Dividend Yield 0.1%
  • Dividend Distribution Frequency Annually

Fund Details

  • Legal Name
    Tactical Moderate Allocation Fund
  • Fund Family Name
    Tactical Fund Advisors
  • Inception Date
    Jun 10, 2019
  • Shares Outstanding
    N/A
  • Share Class
    Inst
  • Currency
    USD
  • Domiciled Country
    United States
  • Manager
    Joseph Halpern

Fund Description

The Fund may invest in equity securities of domestic and foreign issuers of any size, equity-related securities such as options on equity indices or index exchange-traded funds (“ETFs”), and exchange-traded notes (“ETNs”) linked to the VIX (market volatility) index. Fixed income securities includes corporate bonds, municipal securities, and U.S. Treasury securities. The Fund’s ETF investments include leveraged ETFs and ETFs that invest in fixed-income securities of any duration or credit quality, including high-yield bonds (commonly known as “junk bonds”). High yield, high risk bonds are securities that are generally rated below investment grade by the primary rating agencies (BBB- or lower by S&P and Baa3 or lower by Moody’s). The Fund may short shares of equity and fixed income ETFs, and invest in foreign equity securities or ETFs , including issuers from emerging market countries. The Fund considers emerging market countries to be those found in the MSCI EAFE Index.

Under normal circumstances, the Fund intends to target a long-term equity beta relative to the S&P 500® Index within a range of 0.60 to 0.70. Beta is a statistical measure of the sensitivity of a security’s price to the movement of a broad market index, like the S&P 500. A beta greater than 1.0 means a security moves up and down more than the movement of the index. A beta less than 1.0 means that a security moves up and down less than the movement of the index. The tactical nature of the Fund’s underlying investment methodology may temporarily result in wider variations depending on current market conditions.

The Fund expects to have a high portfolio turnover, which may result in higher transactional costs.

The Fund’s adviser, Tactical Fund Advisors, LLC (the “Adviser”), delegates the daily management of the Fund’s assets to multiple sub-advisers. The Adviser is responsible for the overall management of the Fund, overseeing the Fund’s sub-advisers and determining the amount of the Fund’s assets that each sub-adviser will manage, which will vary from time to time. The Fund’s sub-advisers invest the assets delegated to them by the Adviser as follows:

Exceed Advisory LLC (“Exceed Advisory”) – Exceed Advisory’s strategy is composed of an equity options component and a fixed income component. The options component uses call and put options on equity indices or broad-based equity ETFs in seeking to limit risk/return exposure to predetermined market levels. The fixed income component invests in investment grade fixed income securities for the purposes of generating income for the options strategy as well as collateral for the options.

Synergy Asset Management, LLC (“Synergy”) – Synergy invests its allocation of the Fund’s assets in a diversified portfolio of global equity investments that seeks to outperform the S&P 500 by investing primarily in U.S. and foreign equity securities and ETFs.

Heritage Capital Advisors, LLC (“Heritage”) – Heritage invests its allocation of the Fund’s assets in a diversified portfolio of global equity securities and short, intermediate, and long-term bonds. Heritage may also invest in exchange traded funds to provide global equity and bond exposure for the Fund.

Howard Capital Management, Inc. (“Howard”) – Howard invests its allocation of the Fund’s assets in domestic equity securities of any market capitalization; other investment companies, closed-end funds, ETFs, cash and cash equivalents and put options. These investment companies invest in equity securities of companies in sectors, styles, and asset classes selected by the Adviser’s proprietary quantitative model, which indicates which investments are outperforming at any given time based on the Adviser’s proprietary strength criteria.

The Fund expects to have a high portfolio turnover which may result in higher transactional costs.

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TFAUX - Performance

Return Ranking - Trailing

Period TFAUX Return Category Return Low Category Return High Rank in Category (%)
YTD -22.2% -73.0% 19.4% 60.22%
1 Yr -14.7% -9.1% 86.9% 12.36%
3 Yr N/A* -9.5% 16.2% N/A
5 Yr N/A* -4.9% 14.4% N/A
10 Yr N/A* -0.9% 7.5% N/A

* Annualized

Return Ranking - Calendar

Period TFAUX Return Category Return Low Category Return High Rank in Category (%)
2023 -3.4% -22.7% 305.1% 39.26%
2022 3.3% -9.8% 27.3% N/A
2021 N/A -20.8% 10.9% N/A
2020 N/A -12.4% 29.4% N/A
2019 N/A -10.5% 15.8% N/A

Total Return Ranking - Trailing

Period TFAUX Return Category Return Low Category Return High Rank in Category (%)
YTD -22.2% -73.0% 19.4% 60.22%
1 Yr -14.7% -13.4% 86.9% 12.36%
3 Yr N/A* -9.5% 16.2% N/A
5 Yr N/A* -5.3% 14.4% N/A
10 Yr N/A* -0.9% 7.5% N/A

* Annualized

Total Return Ranking - Calendar

Period TFAUX Return Category Return Low Category Return High Rank in Category (%)
2023 -3.4% -22.7% 305.1% 39.26%
2022 3.3% -9.8% 27.3% N/A
2021 N/A -20.8% 10.9% N/A
2020 N/A -8.4% 29.4% N/A
2019 N/A -10.2% 18.0% N/A

NAV & Total Return History


TFAUX - Holdings

Concentration Analysis

TFAUX Category Low Category High TFAUX % Rank
Net Assets 27.3 M 1.5 M 5.01 B 74.54%
Number of Holdings 78 4 4478 65.02%
Net Assets in Top 10 30.4 M -398 M 2.55 B 77.74%
Weighting of Top 10 93.10% 13.1% 100.0% 69.72%

Top 10 Holdings

  1. First American Treasury Obligs X 4.69%
  2. Apple Inc 1.84%
  3. Microsoft Corp 1.68%
  4. Occidental Petroleum Corporation 4.1% 1.42%
  5. American Express Company 3.7% 0.95%

Asset Allocation

Weighting Return Low Return High TFAUX % Rank
Cash
45.89% -6278.21% 410.43% 49.12%
Stocks
38.47% -3.75% 97.95% 33.22%
Convertible Bonds
10.81% 0.00% 87.92% 10.95%
Bonds
5.00% -326.45% 6347.80% 39.58%
Preferred Stocks
0.05% -0.12% 46.97% 21.91%
Other
-0.23% -21.53% 148.54% 63.96%

Stock Sector Breakdown

Weighting Return Low Return High TFAUX % Rank
Technology
40.12% 0.00% 39.58% 1.57%
Consumer Cyclical
16.10% 0.00% 29.09% 15.35%
Communication Services
13.37% 0.00% 21.78% 23.62%
Healthcare
7.93% 0.00% 45.63% 32.28%
Financial Services
7.03% 0.00% 59.28% 79.13%
Consumer Defense
4.99% 0.00% 13.62% 44.09%
Industrials
4.28% 0.00% 21.45% 90.16%
Real Estate
1.86% 0.00% 51.26% 84.25%
Energy
1.61% 0.00% 100.00% 82.68%
Basic Materials
1.41% 0.00% 27.46% 82.68%
Utilities
1.30% 0.00% 9.23% 79.53%

Stock Geographic Breakdown

Weighting Return Low Return High TFAUX % Rank
US
37.73% -8.85% 91.88% 24.73%
Non US
0.74% -19.62% 42.11% 57.24%

Bond Sector Breakdown

Weighting Return Low Return High TFAUX % Rank
Cash & Equivalents
73.57% 0.27% 100.00% 49.12%
Corporate
21.79% 0.00% 87.73% 14.13%
Government
2.70% 0.00% 84.29% 59.36%
Securitized
1.82% 0.00% 56.83% 31.10%
Derivative
0.12% 0.00% 88.81% 46.29%
Municipal
0.01% 0.00% 27.33% 22.97%

Bond Geographic Breakdown

Weighting Return Low Return High TFAUX % Rank
US
3.85% -126.19% 6311.18% 44.17%
Non US
1.15% -382.37% 121.02% 30.74%

TFAUX - Expenses

Operational Fees

TFAUX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 2.24% 0.29% 31.15% 35.25%
Management Fee 1.30% 0.00% 2.50% 75.62%
12b-1 Fee N/A 0.00% 1.00% N/A
Administrative Fee N/A 0.01% 0.30% N/A

Sales Fees

TFAUX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load N/A 2.50% 5.75% N/A
Deferred Load N/A 1.00% 5.00% N/A

Trading Fees

TFAUX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Max Redemption Fee N/A 1.00% 2.00% N/A

Related Fees

Turnover provides investors a proxy for the trading fees incurred by mutual fund managers who frequently adjust position allocations. Higher turnover means higher trading fees.

TFAUX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 346.41% 0.00% 491.00% N/A

TFAUX - Distributions

Dividend Yield Analysis

TFAUX Category Low Category High TFAUX % Rank
Dividend Yield 0.06% 0.00% 4.56% 21.55%

Dividend Distribution Analysis

TFAUX Category Low Category High Category Mod
Dividend Distribution Frequency Annually Annually Quarterly Annually

Net Income Ratio Analysis

TFAUX Category Low Category High TFAUX % Rank
Net Income Ratio -0.40% -2.51% 6.83% 79.86%

Capital Gain Distribution Analysis

TFAUX Category Low Category High Capital Mode
Capital Gain Distribution Frequency Annually Annually Annually

Distributions History

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TFAUX - Fund Manager Analysis

Managers

Joseph Halpern


Start Date

Tenure

Tenure Rank

Jun 10, 2019

2.98

3.0%

Mr. Halpern is the Chief Executive Officer and Portfolio Manager of Exceed. He founded Exceed Advisory in 2013. Since May 2017, Mr. Halpern has also held various roles at Fountainhead Capital Management, LLC (FCM), Fountainhead AM, LLC (FAM) and Fountainhead Retirement Services, LLC, (FRS) each an affiliated registered investment advisor (RIA). Mr. Halpern has served as Chief Compliance Officer at FCM and FAM as of February 2018 and FRS as of April 2019. Mr. Halpern has served as Chief Investment Officer of FAM since May 2017. Mr. Halpern has also served as a Senior Advisor to OmegaPoint Research, Inc. a Fintech company providing an advanced portfolio intelligence engine and separately, provided expert witness consulting on derivative-related legal matters since April 2018. From Dec. 2016 to June 2017, he was a Portfolio Manager of Catalyst. From 2010 to founding Exceed Advisory in 2013, Mr. Halpern was a director at Lamco, the asset management division of Lehman Brothers Holdings Inc. where he managed the exotic derivatives commodities book, was chief negotiator on a number of global bank settlements and was a lead member of a task force on structured products. Between 2007 and 2010, Mr. Halpern was Director on the Equity Derivatives Trading desk of ING Financial Markets (“ING”), a global financial institution. From 2006 to 2007, Mr. Halpern was SVP of Strategy and Risk for Kellogg Capital Group’s derivatives division. From 2002 to 2006, Mr. Halpern was a partner at Halpern Capital, a boutique investment bank focusing on investment banking and trading services in addition to providing independent research to institutional clients. Mr. Halpern began his career in 1996 as a derivatives trader at Letco Specialists, which has since been acquired by TD Securities, and became its youngest partner before leaving in 2002. Mr. Halpern has a BS from New York University, Stern School of Business.

Drew Horter


Start Date

Tenure

Tenure Rank

Jun 10, 2019

2.98

3.0%

Drew K. Horter is Chief Executive Officer and Chief Investment Strategist of Tactical Fund Advisors, LLC. Mr. Horter has been in financial services since 1982, and is a licensed insurance professional. He has extensive industry knowledge as an Investment Advisor Representative, and has previously held FINRA securities licenses that include the Series 6, 7, 22 and 63. In 1991 Drew founded Horter Investment Management, an SEC-registered investment advisory firm. Mr. Horter is a graduate of the University of Cincinnati with a degree in Economics.

Joe Maas


Start Date

Tenure

Tenure Rank

Jan 01, 2020

2.41

2.4%

Joe Maas founded Synergy Financial Management in 2001 and has served as its chief executive officer since its inception. Mr. Maas is a chartered financial analyst, a certified valuation analyst, and is accredited in business appraisal review. Mr. Maas has a Masters of Science in Financial Services from American College.

Jeff Pietsch


Start Date

Tenure

Tenure Rank

Dec 17, 2020

1.45

1.5%

Jeff Pietsch has served as a portfolio manager at Heritage since December 2020. Mr. Pietsch has served also as the managing director of Eastsound Capital Advisors, LLC, a multi-state registered investment adviser since 2011. Jeff Pietsch, JD CFA is a Registered Investment Adviser Representative in the State of Washington who has worked in the investment industry since 2001. President of CONCERT Capital Management, Inc., Mr. Pietsch is also a recognized writer and sought after guest speaker on the topics of active portfolio management and quantitative trading system development and analysis. Mr. Pietsch has been a Chartered Financial Analyst charterholder since 2002. He also holds an MBA in finance from Northwestern University’s Kellogg School of Management, a JD from the Northwestern University School of Law, and a BS from Cornell University.

David Moenning


Start Date

Tenure

Tenure Rank

Dec 17, 2020

1.45

1.5%

Mr. David Moenning founded Heritage in January 2013 and has served as its investment officer since its inception. Mr. Moenning also, since 2013, has served as the managing partner of Numetrix Capital, LLC, an investing research firm

Vance Howard


Start Date

Tenure

Tenure Rank

Aug 23, 2021

0.77

0.8%

Vance Howard has been the President, CEO, Chairman of the Board and founder of Howard since 1999. Prior to forming Howard, he was the President, CEO, Chairman and founder of Chartered Financial Services, Inc., an investment advisory firm. Vance Howard began his professional money management career in 1992 with the formation of Chartered Financial Services, Inc., which was renamed Howard Capital Management, Inc. in 1999. Vance specializes in research, development, and implementation of various types of trading systems. Mr. Howard holds a Bachelor’s degree in General Business from Sam Houston State University.

Tenure Analysis

Category Low Category High Category Average Category Mode
0.02 17.37 4.48 1.67