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FDAT

GradeCNew York Stock Exchange Arca

Tactical Advantage ETF

Multi-Asset & Alternatives · Tactical Funds · Inception 2023-04-20

$22.35−0.10 (−0.45%)

As of Sep 23, 2026, 2:20 PM EDT

History starts Apr 20, 2023.
Intraday session: down, 46 prints from 22.45 to 22.35. Range 22.33 to 22.45. Use the arrow keys to read each point.$22.40$22.4510 AM12 PM2 PM4 PM
Expense ratio
0.74%
Fund size
$37M
1Y return
+5.3%
Yield · Last 12 months
5.83%
Volume · 30D
0M sh
NAV per share
$22.41
52W range
low $21.49high $24.85

The ETF.net FDAT Grade

C

42/ 100

Rank 27 of 38 in Multi-Asset Allocation⁠

Confidence High

Six-pillar profile for FDAT. Scores out of 100: Cost 34, Risk 45, Mission 73, Tradability 8, Holdings 45, Durability 31. Strongest: Mission (73). Weakest: Tradability (8). Leans toward Mission.
F< 25
D≥ 25
C≥ 40
B≥ 55
A≥ 70

Score 42 of 100 sits in the C band. Bands: A ≥ 70, B ≥ 55, C ≥ 40, D ≥ 25, F < 25; the scale skips E.

  • Cost

    What you pay to own it — the expense ratio plus trading frictions, ranked within its category.
    DScore 34
    Category rank26/38 · mid-pack

  • Mission

    How faithfully it does the job it claims — tracking its mandate or index with minimal slippage.
    AScore 73
    Category rank15/30 · top 50%

  • Risk

    How violently it can move — volatility, drawdown depth, and downside capture versus its category.
    CScore 45
    Category rank24/36 · mid-pack

  • Tradability

    How cheaply and easily you can get in and out — liquidity, spread, and premium/discount stability.
    FScore 8
    Category rank35/38 · bottom quartile

  • Holdings

    What it actually owns — the quality, breadth, and concentration of the underlying portfolio.
    CScore 45
    Category rank23/34 · mid-pack

  • Durability

    Whether it will still be here — the fund’s assets, age, flows, and issuer staying power.
    DScore 31
    Category rank31/38 · bottom quartile

Graded as of Sep 22, 2026

Our read on FDAT

ETF.net Research

CMost allocation ETFs pick a stock/bond mix and sit still. FDAT goes the other way: a momentum-driven tactical strategy that pursues long-term growth while aiming to keep the ride calmer than the stock market's.

Stated mandate

The Fund seeks long-term capital appreciation while attempting to keep the volatility of its returns below that of equity markets generally.

Why people hold it

  1. 01The mandate is unusually specific: seek long-term capital appreciation while attempting to keep return volatility below equity markets generally.
  2. 02Momentum is the engine. This rotates rather than holding a fixed stock/bond blend, with the S&P 500 named as its reference point.
  3. 03The 0.78% annual fee sits right at the median for allocation ETFs, so the tactical machinery costs no more than the typical fund in the group.
  4. 04Pays out quarterly, a rhythm income-minded holders can plan around.

Worth knowing

  1. 01Small and thinly traded. Spreads can widen, so limit orders matter more here than with a heavily traded fund.
  2. 02Static allocation rivals cost far less: AOA at 0.19% and IRTR at 0.08%. You're paying up for the tactical tilt.
  3. 03Launched in 2023, so the strategy has a short record and hasn't been through a full market cycle.

FDAT Holdings

As of Sep 20, 2026, 10:19 AM
Asset class
Other
Holdings
—
Top-10 weight
100%
Largest holding
First American Government Obligations Fund 12/01/203167.7%

Sectors

  • Technology21.1%
  • Industrials13.5%
  • Financials13.0%
  • Materials12.5%
  • Utilities11.1%
  • Health Care8.6%
  • Communication8.0%
  • Energy5.0%
  • Consumer Discr.4.5%
  • Real Estate1.3%
  • Cons. Staples1.2%

Geography

  • United States100.00%
The fund’s holdings, weight-ordered — page 1 of 1.
#TickerCompanyWeight %SharesMarket valueIn ETFs
001—First American Government Obligations Fund 12/01/203167.65%24,903,544$25M625
002VUGVanguard Morningstar Growth ETF8.31%34,475$3M16
003—Cash & Other8.26%3,039,163$3M674
004XLUState Street Utilities Select Sector SPDR ETF7.22%65,123$3M23
005IGViShares Expanded Tech-Software Sector ETF4.60%16,223$2M8
006XLCState Street Communication Services Select Sector SPDR ETF3.96%13,188$1M27

Showing 1–6 of 6 holdings

FDAT Performance

Shows how $10,000 changes over the selected period, with cash distributions reinvested at the closing price on each ex-dividend date.

FDAT$10,532
SPY tracks large US stocks. It provides market context, rather than representing this fund’s strategy, asset class or investment benchmark.$11,723
Sep 22, 2025 to Sep 22, 2026. FDAT $10,532. SPY $11,723. Use the arrow keys to read each point.$9,353$10,646$11,940Sep 2025Mar 2026Sep 2026

Sep 22, 2025 – Sep 22, 2026

Returns run to the Sep 22, 2026 close, with cash distributions reinvested. Each period starts on the same date that many months or years earlier. Periods over one year show the average yearly return.

Trailing total return for FDAT. Periods over one year show the average yearly return.
PeriodFDAT
Year to date+5.3%
1 month−1.6%
3 months+1.7%
1 year+5.3%
3 years+9.7%per year
5 yearsFund is under 5 years old—per year
10 yearsFund is under 10 years old—per year

As of the close, with distributions reinvested.

Calendar-year total return with cash distributions hypothetically reinvested at the ex-dividend date’s closing price. The current year shows year to date.

Annual total returns for FDAT
YearReturn barFDAT
2026 YTD+5.3%
2025+7.5%
2024+10.0%
2023+6.2%

Since listing, Apr 20, 2023

FDAT in the news

ETF.net Research hasn’t filed on FDAT yet — coverage lands here as it’s written.

FDAT Dividends

Adds up every distribution paid per share over the last 12 months, divided by the last completed close. Distributions are counted by ex-date. Data through Sep 22, 2026.
5.83%Last 12 months
Payout per share
$1.31Last 12 months
Last payment
$0.06 per share
Paid on
Shares bought on or after this date do not qualify for this distribution.
Frequency
Quarterly

Distribution history

2023–2026

One bar per payment. 6 payments from 2023 to 2026 YTD. Dec 27, 2023 $0.33; Dec 18, 2024 $1.89; Sep 25, 2025 $0.13; Dec 23, 2025 $0.90; Mar 24, 2026 $0.21; Jun 23, 2026 $0.06. Use the arrow keys to read each point.2023202420252026YTD
Ex-datePay dateAmount per share
Jun 23, 2026Jun 24, 2026$0.06
Mar 24, 2026Mar 25, 2026$0.21
Dec 23, 2025Dec 24, 2025$0.90
Sep 25, 2025Sep 26, 2025$0.13
Dec 18, 2024Dec 19, 2024$1.89
Dec 27, 2023Dec 29, 2023$0.33

FDAT Risk

How much the fund’s monthly returns vary, scaled to a year.
8.9%
Annualised · 36 months to Aug 2026
How it’s calculated: standard deviation

The sample standard deviation of monthly total returns, multiplied by the square root of 12.

Uses up to 36 complete months, with at least 12 required. Total returns include reinvested distributions.

Return above 3-month US Treasury bills per unit of volatility.
0.49
vs 3-month T-bills · to Aug 2026
How it’s calculated: Sharpe ratio

Subtract each month’s Treasury-bill return from the fund’s monthly total return.

Divide the average of those excess returns by their sample standard deviation, then multiply by the square root of 12.

Uses up to 36 complete months, with at least 12 required. Each month uses the Treasury yield quoted at the end of the previous month.

The largest fall from a peak to the low that followed.
−8.1%
41 months · trough Apr 2025
How it’s calculated: maximum drawdown

The largest percentage decline from an earlier peak, using total returns with reinvested distributions.

Uses up to five years through the last close, with at least 12 months required.

How strongly the fund’s returns move with its asset-class index.
0.76
vs its asset-class index
How it’s calculated: beta

The beta figure is supplied by FMP. The comparison index depends on the fund’s broad asset class.

FDAT Cost

Expense ratio0.74%
  • The middle half of Multi-Asset Allocation funds
  • Median 0.58%

21 of the 37 Multi-Asset Allocation funds charge less.

FDAT costs $74.00 a year on $10,000. The median Multi-Asset Allocation fund costs $58.00.