Fund Evaluator:
DF Tactical Allocation Fund A (GTAAX)
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Fund Details
DF Tactical Allocation Fund A Overview
DF Tactical Allocation Fund A (GTAAX) is an actively managed Allocation Tactical Allocation fund. Donoghue Forlines LLC launched the fund in 2018.
The investment seeks to provide long-term capital appreciation. The fund's adviser seeks to achieve the fund's investment objective by investing in exchange-traded funds ("ETFs") and exchange-traded notes ("ETNs"), listed on U.S. exchanges, and mutual funds that represent three major asset classes: equities, fixed income, and alternative investments. The adviser may engage in frequent trading of securities in managing the fund’s portfolio, resulting in a higher portfolio turnover.
About DF Tactical Allocation Fund A (GTAAX)
There are 3 members of the management team with an average tenure of 8.13 years: John Forlines (2018), Richard Molari (2018), Jeffrey Thompson (2018). Management tenure is more important for actively managed funds than passive index funds.
The fund has 2 primary benchmarks: MSCI ACWI NR USD index with a weighting of 100% and Dow Jones Moderately Conservative TR USD index with a weighting of 100%. DF Tactical Allocation Fund A has 9 securities in its portfolio. The top 10 holdings constitute 100.1% of the fund’s assets. The fund meets the SEC requirement of being classified as a diversified fund. The fund is not considered to have an ESG focus with its investment selection and management.
DF Tactical Allocation Fund A is part of the Allocation global asset class and is within the Allocation fund group. DF Tactical Allocation Fund A has 4.1% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 62.8%. There is 1.7% allocated to foreign stock, and 0.0% is allocated to preferred stocks. The bond allocation as a percentage of total assets is 32.3% (29.9% domestic bond, 2.4% foreign bond and 0.0% convertible bond). DF Tactical Allocation Fund A has 3.2% of the portfolio in cash.
Assets Under Management
The fund has $2 million in total assets, which is below 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.
GTAAX 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 DF Tactical Allocation Fund A expense ratio is high compared to funds in the Tactical Allocation category. DF Tactical Allocation Fund A has an expense ratio of 1.97%, which is 12% 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. DF Tactical Allocation Fund A has a portfolio turnover rate of 219%, 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, DF Tactical Allocation Fund A returned -1.4%, which earned it a grade of D, 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.
DF Tactical Allocation Fund A has a trailing yield of 4.85%, which is above the 2.86% category average. The fund normally distributes its income quarterly.
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.
DF Tactical Allocation Fund A Grades
Year to date, the fund has returned 13.0%, 4.7 percentage points better than the category, which translates into a grade of A. The fund has returned 18.9% over the past year (grade of B), 13.1% over the past three years (grade of B) and 6.7% per year over the past five years (grade of B).
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GTAAX 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 |
|
| GTAAX Return (NAV) | -1.4% | 3.5% | 18.9% | 13.1% | 6.7% | na |
| GTAAX Grade | D | A | B | B | B | na |
| +/- Category | -0.6% | 2.0% | 2.7% | 2.5% | 1.4% | na |
| Tactical Allocation Avg | -0.9% | 1.5% | 16.2% | 10.6% | 5.3% | 6.3% |
| GTAAX Tax Cost Ratio | na | na | 2.1% | 1.4% | 1.2% | na |
GTAAX Annual NAV Total ReturnsData as of 7/31/26
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
| GTAAX Return (NAV) | 13.0% | 13.3% | 8.1% | 15.3% | -14.7% | 9.0% | -0.4% | 15.7% | na | na | na |
| GTAAX Grade | A | C | C | B | C | D | F | B | na | na | na |
| +/- Category | 4.7% | 0.6% | -0.9% | 4.6% | -1.6% | -3.6% | -10.6% | 2.2% | 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: | 8.8% |
| Total Risk Index: | 0.72 - Below Average |
| Category Risk Index: | 0.86 - Below Average |
| Category Risk Grade: | B (38% Rank) |
| Beta: | 0.85 |
| R-Squared: | 82% |
| Leveraged Fund: | No |
| Inverse Fund: | No |
| Portfolio Characteristics | |
| Equity Investment Style: | Large-Cap Value |
| Bond Investment Style: | High Quality Limited Sensitivity |
| Yield: | 4.9% |
| Dividend Distribution: | Quarterly |
| Cap Gains Distribution: | |
| Total Assets: | $27 Mil |
| Fund Total Assets: | $ 3 Mil |
| Share Class Type: | A |
| Portfolio Turnover: | 219% |
Management Team
| Number of Managers: 3 | |||
| Longest Tenure: 8.3 years | |||
| Average Tenure: 8.1 years | |||
| Managers (Year): Molari Richard (2018), Thompson Jeffrey (2018), Forlines John (2018) | |||
Portfolio Composition (as of 5/31/26)
| # of Holdings: | 9 |
| % in Top 10 Holdings: | 100.1% |
| Fund is Non-Diversified: | No |
| % in Foreign Issues: | 4.1% |
Portfolio Allocation |
|
| Domestic Stock: | 62.8% |
| Foreign Stock: | 1.7% |
| Preferred Stock: | 0.0% |
| Domestic Bond: | 29.9% |
| Foreign Bond: | 2.4% |
| Convertible Bond: | 0.0% |
| Other: | 0.0% |
| Cash: | 3.2% |
Purchase Information
| Fund Family: | Donoghue Forlines LLC |
| Phone Number: | 877-779-7462 |
| Website: |
| Status: | Open |
| Inception Date: | April 6, 2018 |
| Min. Initial Purchase: | $1,000 |
| Min. Initial IRA Purchase: | $ 0 |
| True No-Load: | No |
| Front Load Maximum: | 5.00% |
| Deferred Charge Maximum: | 0.00% |
| Redemption Charge Maximum: | 0.00% |
| 12b-1 Fee: | 0.25% |
Expenses and Fees | |
| Expense Ratio (%): | 1.97% ( Rating : High ) |
| Category Average Expense Ratio (%): | 1.76% |
| Share Class: | DF Tactical Allocation Fund I |
| Min. Subsequent Purchase: | $ 100 |
| Min. Subsequent IRA Purchase: | $ 0 |
