Fund Evaluator:
Potomac Managed Volatility - Instl (CRMVX)
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Best Performing in Nontraditional Bond Over the Last Year
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| 7.3% | Goldman Sachs Dynamic Bond Inv (GZIRX) |
| 5.9% | Potomac Managed Volatility - Instl (CRMVX) |
| 5.5% | PGIM Absolute Return Bond Z (PADZX) |
| 5.2% | Shelton Tactical Credit Investor (DEBTX) |
Fund Details
Potomac Managed Volatility - Instl Overview
Potomac Managed Volatility - Instl (CRMVX) is an actively managed Taxable Bond Nontraditional Bond fund. Potomac Fund launched the fund in 2020.
The investment seeks total return. The fund seeks total return by constructing a portfolio that is comprised, under normal market conditions, of exchange traded funds ("ETFs"), mutual funds (open-end investment companies),and derivatives, and/or cash and cash equivalents. The advisor actively allocates the fund's assets across fixed income and alternative underlying funds that demonstrate low volatility and favorable risk adjusted returns. It is non-diversified.
About Potomac Managed Volatility - Instl (CRMVX)
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: Bloomberg Global Aggregate TR USD index with a weighting of 100% and S&P Target Risk Conservative TR USD index with a weighting of 100%. Potomac Managed Volatility - Instl has 5 securities in its portfolio. The top 10 holdings constitute 50.0% 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 Managed Volatility - Instl is part of the Fixed Income global asset class and is within the Taxable Bond fund group. Potomac Managed Volatility - Instl has -26.0% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 2.0%. There is 0.0% allocated to foreign stock, and 0.0% is allocated to preferred stocks. The bond allocation as a percentage of total assets is -21.4% (4.7% domestic bond, -26.0% foreign bond and 0.0% convertible bond). Potomac Managed Volatility - Instl has 114.5% of the portfolio in cash.
Assets Under Management
The fund has $241 million in total assets, which is below the $663 million average for the Nontraditional Bond 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.
CRMVX 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 Managed Volatility - Instl expense ratio is high compared to funds in the Nontraditional Bond category. Potomac Managed Volatility - Instl has an expense ratio of 1.66%, which is 17% higher than its category average, making the fund expense ratio grade a D. 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 Managed Volatility - Instl has a portfolio turnover rate of 665%, indicating that holds its assets around 0.0 years. By way of comparison, the average portfolio turnover is 308% for the Nontraditional Bond category.
Recently, in the month of June 2026, Potomac Managed Volatility - Instl returned 0.5%, which earned it a grade of A, as the Nontraditional Bond category had an average return of 0.2%. 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 Managed Volatility - Instl has a trailing yield of 4.20%, which is below the 4.89% 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 Managed Volatility - Instl Grades
Year to date, the fund has returned 1.9%, 0.5 percentage points better than the category, which translates into a grade of B. The fund has returned 5.9% over the past year (grade of B), 4.2% over the past three years (grade of F) and 2.4% per year over the past five years (grade of D).
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CRMVX 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 |
|
| CRMVX Return (NAV) | 0.5% | 1.1% | 5.9% | 4.2% | 2.4% | na |
| CRMVX Grade | A | D | B | F | D | na |
| +/- Category | 0.3% | -0.6% | 1.0% | -1.8% | -0.2% | na |
| Nontraditional Bond Avg | 0.2% | 1.7% | 4.9% | 6.0% | 2.5% | 3.3% |
| CRMVX Tax Cost Ratio | na | na | 2.2% | 1.6% | 1.2% | na |
CRMVX Annual NAV Total ReturnsData as of 6/30/26
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
| CRMVX Return (NAV) | 1.9% | 4.9% | 1.2% | 1.3% | 3.7% | 0.3% | na | na | na | na | na |
| CRMVX Grade | B | D | F | F | A | D | na | na | na | na | na |
| +/- Category | 0.5% | -1.9% | -4.2% | -5.2% | 9.7% | -1.1% | na | na | na | na | na |
| Nontraditional Bond Avg | 1.5% | 6.8% | 5.4% | 6.5% | -6.1% | 1.3% | 5.4% | 6.5% | -0.8% | 4.1% | 6.4% |
| Risk Measures | |
| Standard Deviation: | 4.1% |
| Total Risk Index: | 0.33 - Low |
| Category Risk Index: | 1.14 - Above Average |
| Category Risk Grade: | D (68% Rank) |
| Beta: | 0.47 |
| R-Squared: | 41% |
| Leveraged Fund: | No |
| Inverse Fund: | No |
| Portfolio Characteristics | |
| Equity Investment Style: | Large-Cap Blend |
| Bond Investment Style: | na |
| Yield: | 4.2% |
| Dividend Distribution: | Annually |
| Cap Gains Distribution: | |
| Total Assets: | $241 Mil |
| Fund Total Assets: | $ 242 Mil |
| Share Class Type: | Inst |
| Portfolio Turnover: | 665% |
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: | 5 |
| % in Top 10 Holdings: | 50.0% |
| Fund is Non-Diversified: | Yes |
| % in Foreign Issues: | -26.0% |
Portfolio Allocation |
|
| Domestic Stock: | 2.0% |
| Foreign Stock: | 0.0% |
| Preferred Stock: | 0.0% |
| Domestic Bond: | 4.7% |
| Foreign Bond: | -26.0% |
| Convertible Bond: | 0.0% |
| Other: | 4.9% |
| Cash: | 114.5% |
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 (%): | 1.66% ( Rating : High ) |
| Category Average Expense Ratio (%): | 1.42% |
| Share Class: | Potomac Managed Volatility - Instl |
| Min. Subsequent Purchase: | $ 100 |
| Min. Subsequent IRA Purchase: | $ 100 |
