TACK - Fairlead Tactical Sector ETF
TACK
Fairlead Tactical Sector ETF
Investment Objective
Fairlead Tactical Sector ETF (the “Fund”) seeks capital appreciation with limited drawdowns.
Fund Description
TACK is a model-driven exchange-traded fund aligned with Fairlead Strategies disciplined technical methodology with a discretionary overlay reserved for market anomalies. The primary goal of the model is to leverage sector leadership, while navigating equity market downdrafts through asset allocation.
The basis of TACK’s model is technical analysis, with an emphasis on indicators designed to identify long-term trends and major trend reversals. Opportunities are identified using signals from a combination of technical indicators designed to identify price trends, after which a quantitative momentum overlay is applied to finalize the portfolio.
Key Performance & Risk Figures
| Inception (3/22/2022) - Q3 2024 |
Fairlead Tactical Sector ETF (TACK) | Morningstar Moderate Target Risk Index | Russell 1000 Equal Weight Index |
|---|---|---|---|
| Total Return | 16.4% | 11.8% | 14.3% |
| CAGR | 6.1% | 4.1% | 5.3% |
| Standard Deviation | 10.5% | 9.4% | 18.6% |
| Sharpe Ratio | 0.61 | 0.48 | 0.27 |
| Max Drawdown | -13.4% | -17.7% | -21.2% |
| Upside Capture Ratio vs. Benchmark | 0.43 | 0.51 | - |
| Downside Capture Ratio vs. Benchmark | 0.38 | 0.49 | - |
| Best Quarter | 9.8% | 9.5% | 11.2% |
| Worst Quarter | -6.3% | -11.3% | -15.3% |
| Beta (to SPX) | 0.37 | 0.46 | 0.96 |
| Correlation (R2 to Benchmark) | 0.52 | - | - |
| Correlation (R2 to SPX) | 0.37 | 0.75 | 0.82 |
*See below for definitions.
Fund Prices
| NAV | |
|---|---|
| Net Asset Value | TBD |
| Daily Change | TBD |
| Volume | TBD |
| Market Price | |
|---|---|
| Closing Price | TBD |
| Daily Change | TBD |
| 30-Day Median Bid/Ask Spread | TBD |
| Premium/Discount | TBD |
Data as of TBD
The exchange-traded fund's median bid-ask spread is rounded to the nearest hundredth and computed by (1) identifying the exchange-traded fund's national best bid and national best offer as of the end of each 10 second interval during each trading day of the last 30 calendar days, (2) dividing the difference between each such bid and offer by the midpoint of the national best bid and national best offer, and (3) identifying the median of those values.
Performance
Month end returns as of: TBD
| 1 Mo. | 3 Mo. | 6 Mo. | Annualized Since Inception (03/22/2022) |
||
|---|---|---|---|---|---|
| Fund NAV | - | - | - | - | |
| Market Price | - | - | - | - |
Quarter end returns as of: TBD
| 1 Yr. | 3 Yr. | 5 Yr. | 10 Yr. | Annualized Since Inception (03/22/2022) |
|
|---|---|---|---|---|---|
| Fund NAV | - | - | - | ||
| Market Price | - | - | - |
Performance data shown represents past performance and is no guarantee of, and not necessarily indicative of future results. Total return and value will vary and you may have a gain or loss when shares are sold. Current performance may be lower or higher than quoted. Returns include changes in share price and reinvestment of dividends and capital gains, if any.
Market returns are based upon the midpoint of the bid/ask spread at 4:00 p.m. Eastern time, when the NAV is normally calculated for ETFs. Your returns may differ if you traded shares at other times. NAV returns represent the closing price of underlying securities.
Investor Materials
| Factsheet |
| Prospectus |
| Summary Prospectus |
| SAI |
| Q1 Holdings |
| Q3 Holdings |
| Semi-Annual Report |
| Annual Report |
| N-CSR(S) |
| Portfolio Manager Commentary |
| Proxy Voting Record |
Fund Details
| Fund Inception | 3/22/2022 |
| Ticker | TACK |
| Net Assets | TBD |
| Shares Outstanding | TBD |
| Primary Exchange | NYSE |
| CUSIP | 14064D550 |
| Gross Expense Ratio | 0.73%* |
| Number of Holdings |
Data as of TBD
*The Gross Expense ratio is comprised of a 59-bps management fee plus 14-bps to reflect the cost of underlying ETFs.
Historical Premium/Discount
The exchange-traded fund's median bid-ask spread is rounded to the nearest hundredth and computed by (1) identifying the exchange-traded fund's national best bid and national best offer as of the end of each 10 second interval during each trading day of the last 30 calendar days, (2) dividing the difference between each such bid and offer by the midpoint of the national best bid and national best offer, and (3) identifying the median of those values.
Top 10 Holdings
| Name | Ticker | Identifier | Shares Held | Market Value | Percentage Of Net Assets |
|---|
Data as of TBD
Holdings are subject to change
Definitions:
Total Return. A measure of return that includes both the price change of an asset and any income associated with it, including interest and dividends.
Compounded Annual Growth Rate (CAGR). Mean annual growth rate of an investment over a period longer than one year that takes into account the effect of compounding.
Standard Deviation. A statistical measure of volatility that indicates the risk associated with a return series. It measures the deviation of returns are from an average value to gauge the consistency of returns.
Sharpe Ratio. A measure of reward per unit of risk. Typically, the higher the Sharpe Ratio, the better. It is a portfolio’s excess return over the risk-free rate divided by the portfolio’s standard deviation.
Maximum Drawdown. Largest peak-to-trough decline for an investment during a specific period.
Up- and Down-Capture Ratios. Measures of how well a portfolio was able to replicate or improve upon phases of positive benchmark returns, and how adversely the portfolio was affected by phases of negative benchmark returns.
Beta. A measure of the volatility of a portfolio relative to a benchmark. A portfolio with a beta of one would be as volatile as the benchmark over a given period. A portfolio with a beta above or below one would be respectively more or less volatile than the benchmark.
Correlation. A statistic that measures the degree to which two variables, portfolios in this case, move in relation to each other.
R-Squared (R2). Relationship of a portfolio’s returns to a benchmark’s returns. An R-squared of 100% indicates that all movements of a portfolio can be explained by movements in the benchmark, whereas an R-squared of zero indicates no movements in the portfolio can be explained by those in the benchmark.
