FDAT vs IRTR: Grades, Fees and Holdings Compared

Tactical Advantage ETF

FDATDNYSE Arca

iShares LifePath Retirement ETF

IRTRANYSE Arca

Overlap

0.0%by weight

Expense ratio

IRTR −1.08pt a year

FDAT1.16%IRTR0.08%

Avg volume · 30D

IRTR 14.3×the volume

FDAT891IRTR12.7K

3Y return · a year

IRTR +2.9pt

FDAT+10.2%IRTR+13.1%

FDAT vs IRTR Performance

Oct 31, 2025 – Oct 30, 2026

+2.4%FDAT+5.1%IRTR

Expense ratio: FDAT 1.16%; IRTR 0.08%, better
Fund size: FDAT $36M; IRTR $60M
1Y total return: FDAT +2.4%; IRTR +5.1%, better
Yield (12M): FDAT 6.01%, better; IRTR 3.17%
Holdings: FDAT 17; IRTR 29140
Avg volume (30D): FDAT 891 sh; IRTR 12.7K sh, better
NAV per share: FDAT $21.90; IRTR $31.52
52W range

ETF.net Grade

Pillar letters and Scores for FDAT, IRTR, with each pillar’s weight
Pillar	FDAT	IRTR
Cost30% weight	F6	A97Higher
Mission25% weight	A70	A100Higher
Risk15% weight	C50	A82Higher
Tradability15% weight	F12	B62Higher
Holdings10% weight	C44	A80Higher
Durability5% weight	D27	B56Higher

Rank among Multi-Asset Allocation funds

How we build Categories ›

Same Category. FDAT and IRTR are both graded against the same 37 Multi-Asset Allocation funds, so their Grades compare head to head.

Multi-Asset Allocation⁠

Category · 37 funds

See all 37 ›

IRTR ranks 3rd and FDAT 32nd of 37 funds in the Multi-Asset Allocation Category.

Rank 1AUCBGState Street SPDR UC Investments 90/10 Endowment Strategy Index ETFScore 95
Rank 2AAOAiShares Core 80/20 Aggressive Allocation ETFScore 88
Rank 3AIRTRiShares LifePath Retirement ETFScore 86
Rank 4AINCEFranklin Income Equity Focus ETFScore 74
Rank 31DBAMOBrookstone Opportunities ETFScore 35
Rank 32DFDATTactical Advantage ETFScore 34
Rank 33DQVOYQ3 All-Season Active Rotation ETFScore 32

Our read on each fund

ETF.net Research

FDATDTactical Advantage ETF

IRTRAiShares LifePath Retirement ETF

In short

FDAT A fund-of-ETFs that treats cash as a real holding: when its model reads a downtrend, it trims US equity and high-yield bond ETFs and parks the difference. All-in cost is 1.16%.

IRTR A whole retirement portfolio in one ticker: global stock and bond ETFs blended at the conservative end, for 0.08% a year. That is index-fund pricing on a job most allocation funds charge roughly ten times more to do.

Stated mandate

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

IRTR The fund seeks conservative exposure through a broad portfolio of stock and bond ETFs spanning global asset classes.

Why people hold it

FDAT Cash is a position here, not a leftover. A forecast downtrend shifts assets out of equity and high-yield bond ETFs into cash and cash equivalents.sec.gov
Visible plumbing: it holds other US-listed equity and high-yield bond ETFs rather than a black box of derivatives, and it distributes quarterly.sec.gov
The mandate is written around volatility, not just gains: long-term capital appreciation while keeping return swings below equity markets generally.sec.gov

IRTR Costs 0.08% a year against a 0.78% median for allocation funds. Roughly a tenth of the going rate for a portfolio-in-a-box.
One line item, global coverage. The fund holds a spread of stock and bond ETFs across asset classes, so the mixing happens inside the wrapper.ishares.com
Distributions come monthly rather than quarterly.
One of the strongest all-in-one allocation funds in its peer group, and the cheapest of that top tier: iShares' own AOA runs 0.19%.

Worth knowing

FDAT At 1.16% it sits above the allocation-fund median, and well above index-built peers like UCBG (0.06%) and IRTR (0.08%). That fee covers the ETFs it owns too.sec.gov
A small, thinly traded fund, so spreads and order size matter more than they do in the category's giants.
Moving to cash cuts both directions: less exposure in selloffs, less in rallies. The signal is proprietary, so the timing is not visible in advance.sec.gov

IRTR Thinly traded. Spreads can run wider than on household-name ETFs, so limit orders matter more here.
Launched in 2023, so the track record is short and the fund is still building scale.
Conservative by construction: it is built to move less than an all-stock portfolio, and that cuts in both directions.ishares.com

Full FDAT profile⁠

Full IRTR profile⁠

FDAT vs IRTR Holdings

How FDAT and IRTR differ

Overlap by weight

0.0%

Shared holdings make up 0.0% of FDAT and 0.0% of IRTR.

Level by level

Holdings0 in both0.0%
Sector11 Sectors62.4%
Countryby domicile95.2%

Sector

Sector weights in FDAT and IRTR, widest gap first
Sector	More in FDATMore in IRTR	FDAT	IRTR
Technology	FDAT +29.1 points	59.6%	30.5%
Financials	IRTR +12.7 points	2.0%	14.7%
Utilities	FDAT +5.7 points	9.6%	3.9%
Health Care	IRTR +5.6 points	2.6%	8.2%
Consumer Discretionary	IRTR +4.3 points	3.6%	7.9%
Energy	IRTR +3.8 points	0.8%	4.6%
Consumer Staples	IRTR +3.5 points	0.7%	4.2%
Materials	IRTR +3.2 points	0.3%	3.5%
Industrials	FDAT +2.9 points	14.8%	11.9%
Real Estate	IRTR +2.7 points	0.5%	3.2%
Communication	IRTR +1.8 points	5.6%	7.3%

Country, concentration and asset class

Country by domicile

Country weights in FDAT and IRTR, widest gap first
Country	More in FDATMore in IRTR	FDAT	IRTR
Ireland	FDAT +2.3 points	2.3%	0.0%
Japan	IRTR +2.2 points	0.4%	2.6%
Canada	IRTR +1.4 points	0.2%	1.6%
Netherlands	FDAT +0.8 points	0.8%	0.0%
Taiwan	IRTR +0.7 points	0.7%	1.4%
Switzerland	FDAT +0.6 points	0.6%	0.0%
Other countries (13)	FDAT +0.6 points	95.1%	94.5%

Concentration

Weight in the 10 largest Holdings

FDAT78.3%
IRTR10.0%

Securities held

FDAT16
IRTR29,043

Asset class

FDAT: Multi-Asset
IRTR: Multi-Asset

Holdings

Only in FDAT16
In both0
Only in IRTR29,043

Only in FDAT

16 securities, 99.9% of FDAT by weight

First American Government Obligations Fund 12/01/203117.00%
Vanguard Morningstar Mid-Cap Value ETF12.30%
State Street SPDR Portfolio S&P 500 Value ETF12.18%
Vanguard Morningstar Growth ETF8.11%
State Street Industrial Select Sector SPDR ETF8.01%
Invesco S&P 500 Equal Weight Consumer Discretionary ETF4.29%
iShares U.S. Aerospace & Defense ETF4.13%
State Street Materials Select Sector SPDR ETF4.12%
State Street Financial Select Sector SPDR ETF4.06%
iShares U.S. Medical Devices ETF4.05%
First Trust NASDAQ Cybersecurity ETF3.97%
Invesco S&P 500 Momentum ETF3.66%
Invesco S&P MidCap Momentum ET3.64%
VanEck Semiconductor ETF3.56%
Defiance Quantum ETF3.50%
State Street Utilities Select Sector SPDR ETF3.37%

Only in IRTR

29,043 securities, 99.5% of IRTR by weight

Apple1.69%
NVIDIA1.62%
Microsoft1.31%
Treasury Note 1.38% 11/15/2031 (Tnote)1.28%
Amazon.com Inc0.79%
Treasury Note 2.63% 02/15/2029 (Tnote)0.76%
Alphabet Class A0.55%
Treasury Note 3.13% 11/15/2028 (Tnote)0.54%
Treasury (Cpi) Note 1.13% 10/15/2030 (Tips)0.54%
Treasury (Cpi) Note 1.25% 04/15/2031 (Tips)0.54%
Taiwan Semiconductor Manufacturing0.53%
Treasury (Cpi) Note 1.63% 04/15/2030 (Tips)0.52%
Broadcom Inc0.51%
Treasury (Cpi) Note 1.63% 10/15/2029 (Tips)0.51%
Treasury Note 2.75% 02/15/2028 (Tnote)0.50%
Treasury (Cpi) Note 2.13% 04/15/2029 (Tips)0.49%
Treasury (Cpi) Note 2.38% 10/15/2028 (Tips)0.49%
Treasury (Cpi) Note 1.63% 10/15/2027 (Tips)0.48%
Treasury (Cpi) Note 1.25% 04/15/2028 (Tips)0.47%
Treasury (Cpi) Note 0.13% 04/15/2027 (Tips)0.47%
Treasury (Cpi) Note 0.13% 01/15/2031 (Tips)0.46%
Treasury (Cpi) Note 0.13% 07/15/2031 (Tips)0.46%
Meta Platforms Class A0.46%
Alphabet Class C0.45%
Treasury (Cpi) Note 0.13% 07/15/2030 (Tips)0.44%
Treasury (Cpi) Note 0.38% 07/15/2027 (Tips)0.43%
Treasury (Cpi) Note 0.50% 01/15/2028 (Tips)0.43%
Treasury Bond 2.50% 05/15/2046 (Tbond)0.42%
Treasury Note 2.88% 05/15/2028 (Tnote)0.42%
Treasury Bond 3.75% 11/15/2043 (Tbond)0.41%
Treasury (Cpi) Note 0.13% 01/15/2030 (Tips)0.40%
Treasury Bond 2.75% 11/15/2042 (Tbond)0.40%
Tesla Inc0.40%
Eli Lilly0.38%
Treasury (Cpi) Note 0.38% 01/15/2027 (Tips)0.37%
Treasury (Cpi) Note 0.75% 07/15/2028 (Tips)0.36%
Treasury Bond 6.13% 11/15/2027 (Tbond)0.36%
Treasury (Cpi) Note 0.25% 07/15/2029 (Tips)0.36%
Berkshire Hathaway Inc Class B0.34%
Treasury Bond 1.88% 02/15/2051 (Tbond)0.34%
Micron Technology0.34%
Treasury (Cpi) Note 0.88% 01/15/2029 (Tips)0.31%
Treasury Note 4.00% 05/31/2028 (Tnote)0.31%
JPMorgan Chase & Co0.30%
Treasury Note (Old) 4.38% 05/15/2036 (Tnote)0.28%
Treasury Note 2.38% 05/15/2029 (Tnote)0.28%
Advanced Micro Devices0.28%
Treasury Note 4.00% 05/31/2030 (Tnote)0.26%
Exxonmobil Holdings Corp0.26%
Treasury Note 4.00% 02/29/2028 (Tnote)0.25%

Weight gaps

FDAT and IRTR share no securities.

All FDAT holdings⁠All IRTR holdings⁠

How we measure overlap

Each holding counts at its smaller weight in the two funds, summed over the full Holdings. Sector, country and asset class use the same rule on each fund’s split. Cash, FX and derivative lines stay out of the counts. Two bond funds get no overlap figure.

FDAT vs IRTR Cost

Overpaying FDAT vs IRTR

$19,543

On $10,000 over 30 years. 7% growth a year before fees, expense ratio only.

FDAT 1.16%
$21,232
IRTR 0.08%
$1,689

Amount$10,000

Years30 years

Cost over time

FDAT 1.16%
IRTR 0.08%
Overpaying

Year by year

Year	FDAT	IRTR	Overpaying
10	$2,032	$147	$1,885
20	$7,580	$575	$7,005
30	$21,232	$1,689	$19,543

Expense ratio

1.16%FDAT
0.08%IRTR, cheaper

IRTR0.08%FDAT1.16%

0.06%1.36%

Middle half of Multi-Asset Allocation funds
Median 0.57%

IRTR 2nd cheapest of 37 funds

FDAT 35th cheapest of 37 funds

FDAT vs IRTR Dividends

Last 12 months to Oct 30, 2026

Yield (12M): FDAT 6.01%, better; IRTR 3.17%
Payout (12M): FDAT $1.32; IRTR $1.00
Last payment: FDAT $0.14; IRTR $0.08
Ex-dividend: FDAT Sep 24, 2026; IRTR Oct 2, 2026
Paid on: FDAT Sep 25, 2026; IRTR Oct 7, 2026
Frequency: FDAT Quarterly; IRTR Monthly

Distribution history

Per share, 2023 to 2026, same scale for both

FDATQuarterly · 7 paymentsAll FDAT payments⁠

IRTRMonthly · 35 paymentsAll IRTR payments⁠

FDAT vs IRTR Risk

Fall from peak · 5 years

This chart needs five years of history for both funds.

Risk facts

VolatilityStd dev, 3 years: FDAT 8.5%IRTR 7.3%, better
Return per unit of riskSharpe ratio, 3 years: FDAT 0.66IRTR 1.14, better
Worst fallMax drawdown, 5 years: FDAT −8.1%since Apr 2023IRTR −6.3%since Oct 2023
Market sensitivityBeta, 5 years: FDAT 0.76IRTR 0.47; Market = 1

Popular comparisons

FDATDvsUCBGA
Tactical Advantage ETF · State Street SPDR UC Investments 90/10 Endowment Strategy Index ETF
Expense ratio
1.16% · 0.06%
Category
IRTRAvsUCBGA
iShares LifePath Retirement ETF · State Street SPDR UC Investments 90/10 Endowment Strategy Index ETF
Expense ratio
0.08% · 0.06%
Category
FDATDvsAOAA
Tactical Advantage ETF · iShares Core 80/20 Aggressive Allocation ETF
Expense ratio
1.16% · 0.15%
Category
IRTRAvsAOAA
iShares LifePath Retirement ETF · iShares Core 80/20 Aggressive Allocation ETF
Expense ratio
0.08% · 0.15%
Category
FDATDvsINCEA
Tactical Advantage ETF · Franklin Income Equity Focus ETF
Expense ratio
1.16% · 0.29%
Category
IRTRAvsINCEA
iShares LifePath Retirement ETF · Franklin Income Equity Focus ETF
Expense ratio
0.08% · 0.29%
Category