Fund Evaluator:
DF Tactical Momentum Fund A (MOJAX)
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Best Performing in Tactical Allocation Over the Last Year
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Fund Details
DF Tactical Momentum Fund A Overview
DF Tactical Momentum Fund A (MOJAX) is a passively managed Allocation Tactical Allocation fund. Donoghue Forlines LLC launched the fund in 2016.
The investment seeks capital growth with a secondary objective of generating income. The adviser seeks to achieve the fund’s objectives by seeking to track the DF Risk-Managed Momentum Index that provides a formulaic methodology for allocating investments between securities of issuers who demonstrate positive free cash flow and positive momentum and short-term treasuries. The index and the fund will allocate 100% to the equity portfolio when the shorter-term exponential moving average indicator is in a bullish position.
About DF Tactical Momentum Fund A (MOJAX)
There are 3 members of the management team with an average tenure of 8.99 years: John Forlines (2018), Richard Molari (2016), Jeffrey Thompson (2016). Management tenure is more important for actively managed funds than passive index funds.
The fund has 1 primary benchmark: Syntax US LargeCap 500 TR USD index with a weighting of 100%. DF Tactical Momentum Fund A has 52 securities in its portfolio. The top 10 holdings constitute 30.5% 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 Momentum Fund A is part of the Allocation global asset class and is within the Allocation fund group. DF Tactical Momentum Fund A has 3.3% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 93.4%. There is 3.3% allocated to foreign stock, and 0.0% is allocated to preferred stocks. The bond allocation as a percentage of total assets is 0.0% (0.0% domestic bond, 0.0% foreign bond and 0.0% convertible bond). DF Tactical Momentum Fund A has 3.4% of the portfolio in cash.
Assets Under Management
The fund has $1 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.
MOJAX 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 Momentum Fund A expense ratio is high compared to funds in the Tactical Allocation category. DF Tactical Momentum Fund A has an expense ratio of 2.25%, which is 28% 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 Momentum Fund A has a portfolio turnover rate of 355%, 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 Momentum Fund A returned -6.4%, 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.
DF Tactical Momentum Fund A has a trailing yield of 0.00%, which is below the 2.86% category average. The fund normally distributes its income quarterly and its capital gains 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.
DF Tactical Momentum Fund A Grades
Year to date, the fund has returned 33.3%, 24.9 percentage points better than the category, which translates into a grade of A. The fund has returned 45.0% over the past year (grade of A), 28.0% over the past three years (grade of A) and 13.3% per year over the past five years (grade of A).
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MOJAX 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 |
|
| MOJAX Return (NAV) | -6.4% | 4.8% | 45.0% | 28.0% | 13.3% | na |
| MOJAX Grade | F | A | A | A | A | na |
| +/- Category | -5.5% | 3.3% | 28.9% | 17.4% | 8.0% | na |
| Tactical Allocation Avg | -0.9% | 1.5% | 16.2% | 10.6% | 5.3% | 6.3% |
| MOJAX Tax Cost Ratio | na | na | 8.4% | 3.0% | 1.8% | na |
MOJAX Annual NAV Total ReturnsData as of 7/31/26
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
| MOJAX Return (NAV) | 33.3% | 22.7% | 22.0% | 18.7% | -23.0% | 28.5% | -2.2% | 7.4% | -3.4% | 15.0% | na |
| MOJAX Grade | A | A | A | A | F | A | F | F | A | B | na |
| +/- Category | 24.9% | 10.0% | 13.0% | 8.0% | -9.8% | 15.8% | -12.3% | -6.1% | 2.8% | 1.8% | 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: | 17.6% |
| Total Risk Index: | 1.44 - High |
| Category Risk Index: | 1.72 - High |
| Category Risk Grade: | F (96% Rank) |
| Beta: | 1.46 |
| R-Squared: | 60% |
| Leveraged Fund: | No |
| Inverse Fund: | No |
| Portfolio Characteristics | |
| Equity Investment Style: | Mid-Cap Blend |
| Bond Investment Style: | na |
| Yield: | 0.0% |
| Dividend Distribution: | Quarterly |
| Cap Gains Distribution: | Annually |
| Total Assets: | $58 Mil |
| Fund Total Assets: | $ 1 Mil |
| Share Class Type: | A |
| Portfolio Turnover: | 355% |
Management Team
| Number of Managers: 3 | |||
| Longest Tenure: 9.6 years | |||
| Average Tenure: 9.0 years | |||
| Managers (Year): Molari Richard (2016), Thompson Jeffrey (2016), Forlines John (2018) | |||
Portfolio Composition (as of 5/31/26)
| # of Holdings: | 52 |
| % in Top 10 Holdings: | 30.5% |
| Fund is Non-Diversified: | No |
| % in Foreign Issues: | 3.3% |
Portfolio Allocation |
|
| Domestic Stock: | 93.4% |
| Foreign Stock: | 3.3% |
| Preferred Stock: | 0.0% |
| Domestic Bond: | 0.0% |
| Foreign Bond: | 0.0% |
| Convertible Bond: | 0.0% |
| Other: | 0.0% |
| Cash: | 3.4% |
Purchase Information
| Fund Family: | Donoghue Forlines LLC |
| Phone Number: | 877-779-7462 |
| Website: |
| Status: | Open |
| Inception Date: | December 23, 2016 |
| 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 (%): | 2.25% ( Rating : High ) |
| Category Average Expense Ratio (%): | 1.76% |
| Share Class: | DF Tactical Momentum Fund I |
| Min. Subsequent Purchase: | $ 100 |
| Min. Subsequent IRA Purchase: | $ 0 |
