Fund Evaluator:
Potomac Defensive Bull - Instl (CRDBX)
Follow This Fund
Best Performing in Tactical Allocation Over the Last Year
| 69.2% | Quantified Evolution Plus Investor (QEVOX) |
| 48.6% | Teberg (TEBRX) |
| 42.6% | Quantified STF Investor (QSTFX) |
| 37.4% | Potomac Defensive Bull - Instl (CRDBX) |
| 31.4% | Quantified Market Leaders Investor (QMLFX) |
Fund Details
Potomac Defensive Bull - Instl Overview
Potomac Defensive Bull - Instl (CRDBX) is an actively managed Allocation Tactical Allocation fund. Potomac Fund launched the fund in 2020.
The investment seeks long-term capital appreciation. The fund seeks long-term capital appreciation by constructing a portfolio that is comprised, under normal market conditions, of exchange traded funds ("ETFs"), mutual funds (open-end investment companies), derivatives, and/or cash and cash equivalents. It will generally use funds that hold a broad-based basket of equity securities. During downward trending markets, the Advisor will attempt to reduce downside exposure by limiting the fund's investments to cash and cash equivalents. The fund is non-diversified.
About Potomac Defensive Bull - Instl (CRDBX)
There are 2 members of the management team with an average tenure of 4.37 years: Dan Russo (2023), Manish Khatta (2020). Management tenure is more important for actively managed funds than passive index funds.
The fund has 2 primary benchmarks: S&P 500 (TR) index with a weighting of 100% and S&P Target Risk Aggressive TR USD index with a weighting of 100%. Potomac Defensive Bull - Instl has 4 securities in its portfolio. The top 10 holdings constitute 83.1% of the fund’s assets. The fund meets the SEC requirement of being classified as a nondiversified fund. The fund is not considered to have an ESG focus with its investment selection and management.
Potomac Defensive Bull - Instl is part of the Allocation global asset class and is within the Allocation fund group. Potomac Defensive Bull - Instl has 0.4% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 73.1%. There is 0.4% allocated to foreign stock, and 0.0% is allocated to preferred stocks. The bond allocation as a percentage of total assets is 6.5% (6.5% domestic bond, 0.0% foreign bond and 0.0% convertible bond). Potomac Defensive Bull - Instl has 20.0% of the portfolio in cash.
Assets Under Management
The fund has $3 billion in total assets, which is above the $220 million average for the Tactical Allocation category. Normally, lower assets under management translates to higher average expense ratios, and greater total assets are desired. However, for some investment categories, such as small-cap investing, it may be difficult for the manager to fully employ the desired active strategy if assets grow too large or too quickly.
CRDBX Performance and Fees
The expense ratio measures how much of a fund’s assets are used for administrative expenses and operating expenses, including adviser fees and fees for the transfer agent and custodial services. The Potomac Defensive Bull - Instl expense ratio is high compared to funds in the Tactical Allocation category. Potomac Defensive Bull - Instl has an expense ratio of 1.39%, which is 21% lower than its category average, making the fund expense ratio grade a B. While it is difficult to predict returns, it is known that high annual expense ratios reduce your rate of return, and excessive fees are difficult to overcome. Active management normally comes with higher expense ratios than passive index management. Certain investment categories such as small company and foreign also normally have higher expense ratios. It is best to compare fund expense ratios against the category averages for meaningful assessments.
High portfolio turnover can translate to higher expenses and lower aftertax returns. Potomac Defensive Bull - Instl has a portfolio turnover rate of 1352%, indicating that holds its assets around 0.0 years. By way of comparison, the average portfolio turnover is 197% for the Tactical Allocation category.
Recently, in the month of June 2026, Potomac Defensive Bull - Instl returned 1.6%, which earned it a grade of A, as the Tactical Allocation category had an average return of -0.4%. The letter grades of A, B, C, D and F are based upon relative rankings within the investment category. A grade of A, for example, would indicate that the return is in the highest 20% for that time period compared to all funds in that category.
Potomac Defensive Bull - Instl has a trailing yield of 1.12%, which is below the 2.84% category average. The fund normally distributes its income annually.
It’s natural to seek the best-performing investments, but you must consider the relationship between risk and return and the impact of costs and taxes on your realized returns.
Potomac Defensive Bull - Instl Grades
Year to date, the fund has returned 20.0%, 10.6 percentage points better than the category, which translates into a grade of A. The fund has returned 37.4% over the past year (grade of A), 19.3% over the past three years (grade of A) and 16.0% per year over the past five years (grade of A).
For more mutual fund grades, analysis and screening tools to help your investment discovery, join AAII for a $2, full-access trial. Learn more here: https://invest.aaii.com/membership.
Otherwise, for more information about Potomac Defensive Bull - Instl, including its riskiness, submit your email to unlock the rest of the article.
Gain access to exclusive AAII member-only content.
CRDBX Trailing NAV Total Returns Data as of 6/30/26
| Last Month |
Last Quarter |
Ann'l. 1Yr |
Ann'l. 3Yr |
Ann'l. 5Yr |
Ann'l. 10Yr |
|
| CRDBX Return (NAV) | 1.6% | 17.8% | 37.4% | 19.3% | 16.0% | na |
| CRDBX Grade | A | A | A | A | A | na |
| +/- Category | 2.0% | 9.7% | 19.4% | 7.5% | 10.3% | na |
| Tactical Allocation Avg | -0.4% | 8.1% | 18.0% | 11.9% | 5.7% | 6.6% |
| CRDBX Tax Cost Ratio | na | na | 5.4% | 4.7% | 4.5% | na |
CRDBX Annual NAV Total ReturnsData as of 6/30/26
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
| CRDBX Return (NAV) | 20.0% | 25.4% | 19.8% | 19.1% | -8.5% | 28.2% | na | na | na | na | na |
| CRDBX Grade | A | A | A | A | B | A | na | na | na | na | na |
| +/- Category | 10.6% | 12.7% | 10.9% | 8.4% | 4.6% | 15.6% | na | na | na | na | na |
| Tactical Allocation Avg | 9.4% | 12.7% | 8.9% | 10.8% | -13.1% | 12.7% | 10.2% | 13.5% | -6.2% | 13.2% | 5.6% |
| Risk Measures | |
| Standard Deviation: | 16.4% |
| Total Risk Index: | 1.35 - High |
| Category Risk Index: | 1.60 - High |
| Category Risk Grade: | F (94% Rank) |
| Beta: | 0.73 |
| R-Squared: | 17% |
| Leveraged Fund: | No |
| Inverse Fund: | No |
| Portfolio Characteristics | |
| Equity Investment Style: | Large-Cap Blend |
| Bond Investment Style: | High Quality Limited Sensitivity |
| Yield: | 1.1% |
| Dividend Distribution: | Annually |
| Cap Gains Distribution: | |
| Total Assets: | $3673 Mil |
| Fund Total Assets: | $3,673 Mil |
| Share Class Type: | Inst |
| Portfolio Turnover: | 1353% |
Management Team
| Number of Managers: 2 | |||
| Longest Tenure: 6.0 years | |||
| Average Tenure: 4.4 years | |||
| Managers (Year): Khatta Manish (2020), Russo Dan (2023) | |||
Portfolio Composition (as of 3/31/26)
| # of Holdings: | 4 |
| % in Top 10 Holdings: | 83.1% |
| Fund is Non-Diversified: | Yes |
| % in Foreign Issues: | 0.4% |
Portfolio Allocation |
|
| Domestic Stock: | 73.1% |
| Foreign Stock: | 0.4% |
| Preferred Stock: | 0.0% |
| Domestic Bond: | 6.5% |
| Foreign Bond: | 0.0% |
| Convertible Bond: | 0.0% |
| Other: | 0.0% |
| Cash: | 20.0% |
Purchase Information
| Fund Family: | Potomac Fund |
| Phone Number: | 888-774-6679 |
| Website: |
| Status: | Open |
| Inception Date: | July 1, 2020 |
| Min. Initial Purchase: | $5,000 |
| Min. Initial IRA Purchase: | $1,000 |
| True No-Load: | Yes |
| Front Load Maximum: | 0.00% |
| Deferred Charge Maximum: | 0.00% |
| Redemption Charge Maximum: | 0.00% |
| 12b-1 Fee: | 0.00% |
Expenses and Fees | |
| Expense Ratio (%): | 1.39% ( Rating : High ) |
| Category Average Expense Ratio (%): | 1.75% |
| Share Class: | Potomac Defensive Bull - Instl |
| Min. Subsequent Purchase: | $ 100 |
| Min. Subsequent IRA Purchase: | $ 100 |
