Fund Evaluator:
Modern Capital Tactical Income ADV (MCTDX)
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Fund Details
Modern Capital Tactical Income ADV Overview
Modern Capital Tactical Income ADV (MCTDX) is an actively managed Allocation Tactical Allocation fund. Modern Capital launched the fund in 2021.
The investment seeks to provide income and capital gains. The adviser seeks to achieve the investment objective of the fund by tactically investing long primarily in publicly traded closed-end funds, domestic or foreign common stocks, exchange-traded funds (“ETFs”), sponsored American Depositary Receipts (“ADRs”), and debt instruments. It seeks income from interest payments and dividends; and seeks capital gains through short-term trading strategies. The fund invests without restriction as to issuer capitalization, currency or country. It is non-diversified.
About Modern Capital Tactical Income ADV (MCTDX)
There are 1 members of the management team with an average tenure of 0.38 years: Richard de Wet (2026). Management tenure is more important for actively managed funds than passive index funds.
The fund has 2 primary benchmarks: S&P 500 (TR) (1970) index with a weighting of 100% and S&P 500 High Dividend TR USD index with a weighting of 100%. Modern Capital Tactical Income ADV has 61 securities in its portfolio. The top 10 holdings constitute 39.8% 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.
Modern Capital Tactical Income ADV is part of the Allocation global asset class and is within the Allocation fund group. Modern Capital Tactical Income ADV has 31.8% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 36.5%. There is 15.3% allocated to foreign stock, and 2.4% is allocated to preferred stocks. The bond allocation as a percentage of total assets is 41.1% (24.6% domestic bond, 16.4% foreign bond and 0.4% convertible bond). Modern Capital Tactical Income ADV has 6.3% of the portfolio in cash.
Assets Under Management
The fund has $53 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.
MCTDX 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 Modern Capital Tactical Income ADV expense ratio is high compared to funds in the Tactical Allocation category. Modern Capital Tactical Income ADV has an expense ratio of 3.91%, which is 122% higher than its category average, making the fund expense ratio grade a F. 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. Modern Capital Tactical Income ADV has a portfolio turnover rate of 694%, 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, Modern Capital Tactical Income ADV returned -2.9%, 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.
Modern Capital Tactical Income ADV has a trailing yield of 14.06%, which is above the 2.86% category average. The fund normally distributes its income monthly.
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.
Modern Capital Tactical Income ADV Grades
Year to date, the fund has returned 1.1%, 7.2 percentage points worse than the category, which translates into a grade of F. The fund has returned 2.4% over the past year (grade of F), 7.9% over the past three years (grade of F) and 10.9% per year over the past five years (grade of A).
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MCTDX 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 |
|
| MCTDX Return (NAV) | -2.9% | -2.6% | 2.4% | 7.9% | 10.9% | na |
| MCTDX Grade | F | F | F | F | A | na |
| +/- Category | -2.1% | -4.1% | -13.8% | -2.8% | 5.6% | na |
| Tactical Allocation Avg | -0.9% | 1.5% | 16.2% | 10.6% | 5.3% | 6.3% |
| MCTDX Tax Cost Ratio | na | na | 5.2% | 5.6% | 4.8% | na |
MCTDX Annual NAV Total ReturnsData as of 7/31/26
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
| MCTDX Return (NAV) | 1.1% | 4.3% | 13.9% | 17.6% | 14.4% | na | na | na | na | na | na |
| MCTDX Grade | F | F | A | A | A | na | na | na | na | na | na |
| +/- Category | -7.2% | -8.4% | 5.0% | 6.8% | 27.5% | na | 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: | 10.2% |
| Total Risk Index: | 0.83 - Average |
| Category Risk Index: | 0.99 - Average |
| Category Risk Grade: | C (60% Rank) |
| Beta: | 0.91 |
| R-Squared: | 71% |
| Leveraged Fund: | No |
| Inverse Fund: | No |
| Portfolio Characteristics | |
| Equity Investment Style: | Mid-Cap Value |
| Bond Investment Style: | Medium Quality Moderate Sensitivity |
| Yield: | 14.1% |
| Dividend Distribution: | Monthly |
| Cap Gains Distribution: | |
| Total Assets: | $63 Mil |
| Fund Total Assets: | $ 54 Mil |
| Share Class Type: | Adv |
| Portfolio Turnover: | 695% |
Management Team
| Number of Managers: 1 | |||
| Longest Tenure: 0.4 years | |||
| Average Tenure: 0.4 years | |||
| Managers (Year): de Wet Richard (2026) | |||
Portfolio Composition (as of 3/31/26)
| # of Holdings: | 61 |
| % in Top 10 Holdings: | 39.8% |
| Fund is Non-Diversified: | Yes |
| % in Foreign Issues: | 31.8% |
Portfolio Allocation |
|
| Domestic Stock: | 36.5% |
| Foreign Stock: | 15.3% |
| Preferred Stock: | 2.4% |
| Domestic Bond: | 24.6% |
| Foreign Bond: | 16.4% |
| Convertible Bond: | 0.4% |
| Other: | -2.0% |
| Cash: | 6.3% |
Purchase Information
| Fund Family: | Modern Capital |
| Phone Number: | 800-711-9164 |
| Website: | www.moderncap.com/assetmanagement/funds |
| Status: | Open |
| Inception Date: | June 24, 2021 |
| Min. Initial Purchase: | $10,000 |
| Min. Initial IRA Purchase: | $ 0 |
| True No-Load: | Yes |
| Front Load Maximum: | 0.00% |
| Deferred Charge Maximum: | 0.00% |
| Redemption Charge Maximum: | 0.00% |
| 12b-1 Fee: | na |
Expenses and Fees | |
| Expense Ratio (%): | 3.91% ( Rating : High ) |
| Category Average Expense Ratio (%): | 1.76% |
| Share Class: | Modern Capital Tactical Income A |
| Min. Subsequent Purchase: | $ 50 |
| Min. Subsequent IRA Purchase: | $ 0 |
