Fund Evaluator:
Potomac Tactical Rotation - Instl (CRTBX)
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Best Performing in Tactical Allocation Over the Last Year
| 62.5% | Quantified Evolution Plus Investor (QEVOX) |
| 35.2% | Teberg (TEBRX) |
| 30.8% | Potomac Defensive Bull - Instl (CRDBX) |
| 25.7% | ACR Opportunity Fund I Shares (ACROX) |
| 24.4% | Invesco Balanced-Risk Allocation Y (ABRYX) |
Fund Details
Potomac Tactical Rotation - Instl Overview
Potomac Tactical Rotation - Instl (CRTBX) is an actively managed Allocation Tactical Allocation fund. Potomac Fund Management Inc. launched the fund in 2020.
The investment seeks growth and income. The fund seeks growth and income 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. The advisor actively allocates the fund's assets across equity and fixed income ETFs and mutual funds overweighting those investments that exhibit the best risk-to-reward ratio. It is non-diversified.
About Potomac Tactical Rotation - Instl (CRTBX)
There are 2 members of the management team with an average tenure of 4.46 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 Moderate TR USD index with a weighting of 100%. Potomac Tactical Rotation - Instl has 9 securities in its portfolio. The top 10 holdings constitute 85.5% 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 Tactical Rotation - Instl is part of the Allocation global asset class and is within the Allocation fund group. Potomac Tactical Rotation - Instl has 10.3% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 39.5%. There is 10.3% allocated to foreign stock, and 0.0% is allocated to preferred stocks. The bond allocation as a percentage of total assets is 8.7% (8.7% domestic bond, 0.0% foreign bond and 0.0% convertible bond). Potomac Tactical Rotation - Instl has 41.4% of the portfolio in cash.
Assets Under Management
The fund has $290 million in total assets, which is above the $222 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.
CRTBX 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 Tactical Rotation - Instl expense ratio is high compared to funds in the Tactical Allocation category. Potomac Tactical Rotation - Instl has an expense ratio of 1.58%, which is 10% lower than its category average, making the fund expense ratio grade a C. 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 Tactical Rotation - Instl has a portfolio turnover rate of 917%, indicating that holds its assets around 0.0 years. By way of comparison, the average portfolio turnover is 196% for the Tactical Allocation category.
Recently, in the month of July 2026, Potomac Tactical Rotation - Instl returned -1.8%, which earned it a grade of F, as the Tactical Allocation category had an average return of -0.9%. 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 Tactical Rotation - Instl has a trailing yield of 1.38%, which is below the 2.86% 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 Tactical Rotation - Instl Grades
Year to date, the fund has returned 8.6%, 0.3 percentage points better than the category, which translates into a grade of B. The fund has returned 15.5% over the past year (grade of C), 8.3% over the past three years (grade of D) and 5.2% per year over the past five years (grade of C).
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CRTBX Trailing NAV Total Returns Data as of 7/31/26
| Last Month |
Last Quarter |
Ann'l. 1Yr |
Ann'l. 3Yr |
Ann'l. 5Yr |
Ann'l. 10Yr |
|
| CRTBX Return (NAV) | -1.8% | 3.1% | 15.5% | 8.3% | 5.2% | na |
| CRTBX Grade | F | B | C | D | C | na |
| +/- Category | -1.0% | 1.6% | -0.7% | -2.3% | -0.1% | na |
| Tactical Allocation Avg | -0.9% | 1.5% | 16.2% | 10.6% | 5.3% | 6.3% |
| CRTBX Tax Cost Ratio | na | na | 3.3% | 1.9% | 2.5% | na |
CRTBX Annual NAV Total ReturnsData as of 7/31/26
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
| CRTBX Return (NAV) | 8.6% | 9.9% | 10.2% | 0.6% | -0.4% | 9.0% | na | na | na | na | na |
| CRTBX Grade | B | D | B | F | A | D | na | na | na | na | na |
| +/- Category | 0.3% | -2.8% | 1.3% | -10.2% | 12.7% | -3.7% | na | na | na | na | na |
| Tactical Allocation Avg | 8.4% | 12.7% | 8.9% | 10.8% | -13.1% | 12.7% | 10.2% | 13.5% | -6.2% | 13.2% | 5.6% |
| Risk Measures | |
| Standard Deviation: | 8.5% |
| Total Risk Index: | 0.69 - Below Average |
| Category Risk Index: | 0.82 - Below Average |
| Category Risk Grade: | B (35% Rank) |
| Beta: | 0.66 |
| R-Squared: | 53% |
| Leveraged Fund: | No |
| Inverse Fund: | No |
| Portfolio Characteristics | |
| Equity Investment Style: | Large-Cap Value |
| Bond Investment Style: | High Quality Limited Sensitivity |
| Yield: | 1.4% |
| Dividend Distribution: | Annually |
| Cap Gains Distribution: | |
| Total Assets: | $290 Mil |
| Fund Total Assets: | $ 290 Mil |
| Share Class Type: | Inst |
| Portfolio Turnover: | 917% |
Management Team
| Number of Managers: 2 | |||
| Longest Tenure: 6.1 years | |||
| Average Tenure: 4.5 years | |||
| Managers (Year): Khatta Manish (2020), Russo Dan (2023) | |||
Portfolio Composition (as of 3/31/26)
| # of Holdings: | 9 |
| % in Top 10 Holdings: | 85.5% |
| Fund is Non-Diversified: | Yes |
| % in Foreign Issues: | 10.3% |
Portfolio Allocation |
|
| Domestic Stock: | 39.5% |
| Foreign Stock: | 10.3% |
| Preferred Stock: | 0.0% |
| Domestic Bond: | 8.7% |
| Foreign Bond: | 0.0% |
| Convertible Bond: | 0.0% |
| Other: | 0.1% |
| Cash: | 41.4% |
Purchase Information
| Fund Family: | Potomac Fund Management Inc. |
| 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 (%): | 1.58% ( Rating : High ) |
| Category Average Expense Ratio (%): | 1.76% |
| Share Class: | Potomac Tactical Rotation - Instl |
| Min. Subsequent Purchase: | $ 100 |
| Min. Subsequent IRA Purchase: | $ 100 |
