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Name

As of 04/18/2024

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

ATAC Rotation Fund

ATACX | Fund

$29.76

$56 M

0.00%

2.53%

Vitals

YTD Return

-4.3%

1 yr return

5.3%

3 Yr Avg Return

-13.5%

5 Yr Avg Return

2.6%

Net Assets

$56 M

Holdings in Top 10

98.1%

52 WEEK LOW AND HIGH

$29.9
N/A
N/A

Expenses

OPERATING FEES

Expense Ratio 2.53%

SALES FEES

Front Load N/A

Deferred Load N/A

TRADING FEES

Turnover N/A

Redemption Fee N/A

Min Investment

Standard (Taxable)

$2,500

IRA

N/A

Fund Classification

Fund Type

Open End Mutual Fund

Name

As of 04/18/2024

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

ATAC Rotation Fund

ATACX | Fund

$29.76

$56 M

0.00%

2.53%

ATACX - Profile

Distributions

  • YTD Total Return -4.3%
  • 3 Yr Annualized Total Return -13.5%
  • 5 Yr Annualized Total Return 2.6%
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio -0.45%
DIVIDENDS
  • Dividend Yield 0.0%
  • Dividend Distribution Frequency Annual

Fund Details

  • Legal Name
    ATAC Rotation Fund
  • Fund Family Name
    ATAC Fund
  • Inception Date
    Sep 10, 2012
  • Shares Outstanding
    1029544
  • Share Class
    Investor
  • Currency
    USD
  • Domiciled Country
    US
  • Manager
    Michael Gayed

Fund Description

To achieve the Fund’s investment objective, the Adviser invests the Fund’s assets primarily in shares of a diversified portfolio of exchange-traded funds (“ETFs”) that track various indices or multiples thereof, sometimes referred to in this Prospectus as “Underlying ETFs.” These indices may track the performance of the equity and/or fixed income markets, in general, or the performance of specific sectors (e.g., a large grouping of companies operating within the market that share similar characteristics) or market segments (e.g., large, medium, or small capitalization domestic and/or foreign companies, including those in emerging markets). The Fund may also invest in ETFs that seek to achieve returns on a daily or monthly basis that are a multiple of the returns of the target index through the utilization of leveraging techniques. The Fund may also invest in exchange-traded notes (“ETNs”). ETNs are debt obligations typically issued by investment banks that are traded on exchanges and whose returns are linked to the performance of market indices.
The Adviser intends to invest in Underlying ETFs that correspond to one or more asset classes. The Underlying ETFs may hold equity securities (e.g., common and preferred stock) of small, medium and large capitalization domestic or foreign companies, which may include companies located in emerging markets. Underlying ETFs may also hold fixed income securities such as government and corporate bonds issued by a variety of domestic and foreign entities. These fixed income securities may have varying maturities (e.g., short-term, intermediate or long-term) and credit qualities (e.g., high quality, investment grade or below investment grade, also known as “junk bonds”). The Fund, however, reserves the right to invest all of its assets in any one asset class depending upon market conditions. When investing in Underlying ETFs that track multiples of various indices, the Fund limits its investments in such Underlying ETFs to 25% of total assets at the time of purchase. Additionally, the Fund may utilize leverage as part of the portfolio management process through investing in Underlying ETFs that utilize leveraging techniques. The Fund may invest in underlying funds that utilize futures contracts, options on futures contracts, securities and indices, forward contracts, swap agreements and similar instruments. Additionally, the Fund may utilize leverage (i.e., borrow against a line of credit) as part of the portfolio management process.
The Adviser’s proprietary investment approach is designed to target various segments of the investable landscape by allocating primarily between equities and bonds depending on the potential for near-term stock market volatility as signaled through inter-market trends and relative prices. When indicators suggest equity volatility is likely to fall, stocks tend to outperform bonds, and when indicators suggest equity volatility is likely to rise, bonds tend to outperform stocks. The Adviser’s approach allocates into equities, or bonds based on these historical observations and attempts to identify specific areas within each asset class which have the near-term potential to outperform. The Adviser uses quantitative signals that help to identify the ETFs in which to position the Fund’s portfolio. Using ETFs allows for liquid and timely exposure to desired markets and provides the Fund with the ability to reposition holdings in dynamic investing environments.Quantitative signals include relative momentum as measured by price movement, strength of the opportunity set defined as equities and bonds, and the firm’s proprietary combination of historically proven leading indicators of stock market volatility, as discovered through internal research.
The Fund can make aggressive moves into or out of any particular asset class on a short-term basis and, as a result, the Adviser expects that the Fund will have a high portfolio turnover rate. The Adviser anticipates that the Fund’s portfolio turnover could exceed 2,000% on an annual basis, depending on market conditions. Because the Fund pays transaction costs, such as commissions, when it buys and sells ETFs, a higher portfolio turnover rate may result in higher transaction costs and, when Fund shares are held in a taxable account, in higher taxes. These costs, which are not reflected in the Annual Fund Operating Expenses or in the Example above, affect the Fund’s performance.
The use of leverage may magnify the effect of any decrease or increase in the value of the Fund's portfolio securities. The use of leverage may also cause the Fund to liquidate portfolio positions when it would not be advantageous to do so in order to satisfy its obligations.
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ATACX - Performance

Return Ranking - Trailing

Period ATACX Return Category Return Low Category Return High Rank in Category (%)
YTD -4.3% -4.6% 13.8% 99.56%
1 Yr 5.3% -10.3% 52.3% 58.04%
3 Yr -13.5%* -24.0% 8.1% 97.76%
5 Yr 2.6%* -11.7% 17.5% 75.85%
10 Yr 3.2%* -4.8% 9.4% 62.77%

* Annualized

Return Ranking - Calendar

Period ATACX Return Category Return Low Category Return High Rank in Category (%)
2023 2.1% -18.9% 60.2% 80.62%
2022 -25.8% -48.5% 0.1% 92.51%
2021 -10.5% -19.0% 48.3% 94.25%
2020 52.5% -16.5% 52.8% 0.93%
2019 6.8% -8.5% 27.3% 77.62%

Total Return Ranking - Trailing

Period ATACX Return Category Return Low Category Return High Rank in Category (%)
YTD -4.3% -4.6% 13.8% 99.56%
1 Yr 5.3% -10.3% 52.3% 58.04%
3 Yr -13.5%* -24.0% 8.1% 97.76%
5 Yr 2.6%* -11.7% 17.5% 75.85%
10 Yr 3.2%* -4.8% 9.4% 62.77%

* Annualized

Total Return Ranking - Calendar

Period ATACX Return Category Return Low Category Return High Rank in Category (%)
2023 2.1% -11.7% 61.8% 89.43%
2022 -25.8% -48.5% 4.6% 96.48%
2021 -10.5% -14.2% 48.3% 99.12%
2020 72.5% -11.7% 77.4% 1.86%
2019 7.7% -3.9% 30.2% 85.24%

NAV & Total Return History

ATACX - Holdings

Concentration Analysis

ATACX Category Low Category High ATACX % Rank
Net Assets 56 M 1.98 M 13.3 B 73.80%
Number of Holdings 6 2 1954 95.63%
Net Assets in Top 10 52.2 M 1.16 M 10.4 B 68.12%
Weighting of Top 10 98.08% 0.4% 149.2% 17.03%

Top 10 Holdings

  1. iShares Core SP Small-Cap ETF 34.67%
  2. Schwab US Small-Cap ETF 25.04%
  3. Direxion Daily Small Cap Bull 3X Shares 15.10%
  4. iShares Russell 2000 ETF 13.10%
  5. SPDR Portfolio SP 600 Small Cap ETF 9.91%
  6. First American Government Obligations Fund 0.25%

Asset Allocation

Weighting Return Low Return High ATACX % Rank
Stocks 		97.84% 0.00% 137.56% 34.50%
Cash 		2.16% -33.22% 99.05% 62.88%
Preferred Stocks 		0.00% 0.00% 5.36% 94.32%
Other 		0.00% -29.71% 128.17% 86.03%
Convertible Bonds 		0.00% 0.00% 8.92% 95.63%
Bonds 		0.00% 0.00% 106.59% 95.20%

Stock Sector Breakdown

Weighting Return Low Return High ATACX % Rank
Utilities 		0.00% 0.00% 91.12% 49.37%
Technology 		0.00% 0.00% 85.77% 27.20%
Real Estate 		0.00% 0.00% 99.45% 64.85%
Industrials 		0.00% 0.00% 23.85% 61.09%
Healthcare 		0.00% 0.00% 38.63% 28.87%
Financial Services 		0.00% 0.00% 98.22% 42.26%
Energy 		0.00% 0.00% 60.89% 68.62%
Communication Services 		0.00% 0.00% 21.61% 10.04%
Consumer Defense 		0.00% 0.00% 37.51% 44.77%
Consumer Cyclical 		0.00% 0.00% 25.83% 32.64%
Basic Materials 		0.00% 0.00% 56.73% 71.97%

Stock Geographic Breakdown

Weighting Return Low Return High ATACX % Rank
US 		97.84% 0.00% 137.56% 31.88%
Non US 		0.00% -1.94% 41.50% 93.01%

ATACX - Expenses

Operational Fees

ATACX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 2.53% 0.49% 10.24% 18.34%
Management Fee 1.25% 0.00% 1.50% 98.69%
12b-1 Fee 0.25% 0.00% 1.00% 64.90%
Administrative Fee N/A 0.05% 0.70% N/A

Sales Fees

ATACX 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% 1.00% N/A

Trading Fees

ATACX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Max Redemption Fee N/A 0.50% 2.00% 30.60%

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.

ATACX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover N/A 1.75% 441.00% 100.00%

ATACX - Distributions

Dividend Yield Analysis

ATACX Category Low Category High ATACX % Rank
Dividend Yield 0.00% 0.00% 25.33% 99.56%

Dividend Distribution Analysis

ATACX Category Low Category High Category Mod
Dividend Distribution Frequency Annual Annual Quarterly Quarterly

Net Income Ratio Analysis

ATACX Category Low Category High ATACX % Rank
Net Income Ratio -0.45% -2.01% 13.72% 73.80%

Capital Gain Distribution Analysis

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

Distributions History

View More +

ATACX - Fund Manager Analysis

Managers

Michael Gayed

Start Date

Tenure

Tenure Rank

Sep 10, 2012

9.73

9.7%

Michael A. Gayed, CFA Mr. Gayed joined the Toroso Investments, LLC in 2020 as a portfolio manager. Prior to 2020, Mr. Gayed was an employee of the Pension Partners, LLC and served as its Chief Investment Strategist and a portfolio manager of the Fund since its inception. As Chief Investment Strategist, Mr. Gayed helped to structure portfolios to best take advantage of various strategies designed to maximize the amount of time and capital spent in potentially outperforming investments. Prior to his role as Chief Investment Strategist and portfolio manager of the Fund, from 2009 to 2010, Mr. Gayed served as a portfolio manager at the Predecessor Adviser for a large international investment group, trading long/short investment ideas in an effort to capture excess returns. Mr. Gayed also served as a portfolio strategist and business development consultant for the Predecessor Adviser during 2009. From 2004 to 2008, Mr. Gayed was a Portfolio Strategist at AmeriCap Advisers, LLC, a registered investment advisory firm which managed equity portfolios for large institutional clients. As a member of the investment committee at AmeriCap Advisers, LLC, Mr. Gayed performed detailed analysis on various stocks and worked closely with the principals of the firm to structure client portfolios. In 2007, he launched a long/short hedge fund, using various trading strategies focused on taking advantage of stock market anomalies. Mr. Gayed earned his B.S. in Finance and Management from New York University and holds the Chartered Financial Analyst designation.

Michael Venuto

Start Date

Tenure

Tenure Rank

May 01, 2020

2.08

2.1%

Mr. Venuto is a co-founder and has been the Chief Investment Officer of the Toroso Investments, LLC since 2012. Mr. Venuto is an ETF industry veteran with over a decade of experience in the design and implementation of ETF-based investment strategies. Previously, he was Head of Investments at Global X Funds where he provided portfolio optimization services to institutional clients. Before that, he was Senior Vice President at Horizon Kinetics where his responsibilities included new business development, investment strategy and client and strategic initiatives.

Tenure Analysis

Category Low Category High Category Average Category Mode
0.07 33.83 6.59 13.0

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