At a glance
FDAT charges 1.16% a year, above the 0.86% average of the 7 funds most like it (the most expensive of 8). It has $36.5M in assets, the 8th largest of that group; it paid 5.97% of its price in distributions over the past 12 months, quarterly. Over the past year it returned +2.3% with distributions reinvested (S&P 500: +11.5%), the weakest of those 8 funds; over three years it returned +10.6% a year. Its ten largest positions make up 66.6% of the fund, out of 17 in all.
The short version
Tactical Advantage ETF (FDAT), from Tidal Financial Group, is an actively managed "fund of ETFs." It holds a changing mix of other ETFs, mostly U.S. stock sector and style funds. It can shift up to 75% of its assets into cash when its sub-adviser's model expects a falling market. The aim is stock-market growth with less volatility. The trade-offs are a 1.16% expense ratio and a short record without a major bear market.
Price history
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FDAT +2.3% over the year to Oct 27, 2026, total return with distributions reinvested.
How it has behaved
| YTD | 1 yr | 3 yr | 5 yr | 10 yr | Since start | |
|---|---|---|---|---|---|---|
| FDAT official prospectus, to Dec 31, 2025 | — | +7.45% | — | — | — | +8.58% |
| FDAT price data to Oct 27, 2026 | +4.4% | +2.3% | +10.6% | — | — | +8.0% |
- Over the year to Oct 27, 2026, FDAT returned +2.3%, 8th of 8 among similar funds.
- Its worst full calendar year was 2025 (+7.5%); its best was 2024 (+10.0%).
- The deepest fall in its price history was 8.1% (Nov 29, 2024 to Apr 8, 2025), recovered by Aug 13, 2025.
Show as a table
| Year | Price data | Prospectus (official) |
|---|---|---|
| 2026 (to date) | +4.4% | — |
| 2025 | +7.5% | +7.45% |
| 2024 | +10.0% | +9.99% |
| 2008 financial crisis stocks fell Oct 9, 2007 – Mar 9, 2009 | Before this security existed |
|---|---|
| 2020 COVID crash stocks fell Feb 19, 2020 – Mar 23, 2020 | Before this security existed |
| 2022 bear market stocks fell Jan 3, 2022 – Oct 12, 2022 | Before this security existed |
Dividends and income
Show as a table
| Year | Per share | Change |
|---|---|---|
| 2026 (to date) | $0.4200 | |
| 2025 | $1.0300 | -45.5% |
| 2024 | $1.8900 |
What's inside
As of Jun 30, 2026, the fund held 17 securities; the ten largest made up 66.64% of assets, and 5.41% sat in cash and money-market holdings.
| Fund held | Weight | |
|---|---|---|
| State Street Health Care Select Sector SPDR ETF | 8.37% | |
| State Street Industrial Select Sector SPDR ETF | 8.14% | |
| Vanguard Growth ETF | 8.04% | |
| State Street Utilities Select Sector SPDR ETF | 7.99% | |
| Vanguard Mid-Cap Growth ETF | 7.96% | |
| iShares Core High Dividend ETF | 7.93% | |
| iShares U.S. Medical Devices ETF | 5.79% | |
| iShares U.S. Home Construction ETF | 4.22% | |
| iShares Biotechnology ETF | 4.14% | |
| Invesco S&P MidCap Momentum ET | 4.07% | |
| iShares U.S. Aerospace & Defense ETF | 4.04% | |
| State Street SPDR Portfolio S&P 600 Small Cap ETF | 4.02% | |
| iShares AI Innovation and Tech Active ETF | 4.01% | |
| Vanguard Mid-Cap Value ETF | 3.99% | |
| iShares Expanded Tech-Software Sector ETF | 3.98% |
By country
United States 94.62%By asset type
Stocks 94.62%What changed recently
- Over the three months to Jun 30, 2026, investors added a net $436K (creations minus redemptions, per the N-PORT report).
- Monthly total returns reported for that quarter: +1.56%, +0.93%, +1.71%.
How it works
FDAT does not track an index. Its sub-adviser, Family Dynasty Advisors LLC, picks U.S.-listed ETFs that invest mainly in U.S. stocks or high-yield (lower-credit-quality) bonds. It also holds cash. When its model expects rising markets, the fund usually owns 10 to 15 ETFs. These focus on sectors such as health care or technology, or on segments such as small- or mid-sized companies. When the model expects a flat or falling market, the fund owns fewer ETFs and holds more cash. It is generally 90% to 100% invested. However, the prospectus expects brief moves of up to 75% into cash about two or three times a year.
Most signals come from price patterns. These include trading volume, 20- and 50-day moving averages (average prices over those periods) and two momentum gauges called the stochastic oscillator and MACD. The gauges try to spot when an ETF looks overbought or oversold. Economic data acts as a second check. That data includes Federal Reserve actions, GDP, consumer spending and housing reports.
The approach involves heavy trading. Portfolio turnover was 547%, which is like replacing the whole portfolio more than five times in a year. As a fund of ETFs, FDAT also carries the fees of the funds it owns. As of June 30, 2026, its largest positions were the Health Care Select Sector SPDR (XLV, 8.4%), the Industrial Select Sector SPDR (XLI, 8.1%) and Vanguard Growth ETF (VUG, 8.0%). Cash made up 5.4%.
What it really costs
- FDAT charges 1.16% a year, versus an average of 0.86% for the similar funds below (8th of 8, cheapest first).
- Of that, 0.64% is the management fee; the rest covers other fund expenses.
- Using the prospectus's standard example, $10,000 invested would cost about $118 in the first year and $1,409 over 10 years (assuming a 5% annual return).
| Cost of $10,000 (SEC example) | 1 yr | 3 yrs | 5 yrs | 10 yrs |
|---|---|---|---|---|
| FDAT | $118 | $368 | $638 | $1,409 |
Structure and tax notes
- Invests in other funds rather than directly in stocks or bonds, so its holdings are those funds.
In a retirement portfolio
Its results depend on one manager's market-timing model, it costs 1.16% a year, and a deep bear market has not yet tested it.
FDAT aims to cushion stock-market drops by moving into cash. Through October 27, 2026, its record was calm. Its deepest decline was 8.1%, from November 29, 2024 to April 8, 2025, and it recovered by August 13, 2025, about four months later. Its weaker full year, 2025, still gained 7.45%, according to the prospectus. However, the fund launched in April 2023, so it missed the 2008, 2020 and 2022 crashes. No one knows how its signals would handle a long, steep slide when a retiree may need to draw cash. It pays quarterly, and its trailing yield was 5.97% as of October 27, 2026, though payouts may vary. Its 1.16% expense ratio is above the 0.86% average of the funds it was compared with. Past results don't predict the future, and a plan should look at the whole portfolio, not one fund.
Who it may suit — and who should look elsewhere
May suit
- Investors who want U.S. stock exposure with a manager who can move up to 75% into cash when its model signals a downturn.
- Those willing to pay 1.16% a year for active, signal-driven management, plus the extra fees of owning other ETFs.
- People looking for a smaller holding with milder swings. Its one-year beta was 0.56, about half the market's moves, as of October 27, 2026.
Look elsewhere if
- Cost-focused investors. The 1.16% expense ratio ranked last of eight compared funds, about $1,409 over 10 years on $10,000 in the SEC example.
- Anyone who wants a long, tested record. FDAT launched in April 2023 and has not faced a bear market like 2008 or 2022.
- Those who want a stable, predictable mix. With 547% turnover and model-driven shifts, holdings and cash levels can change sharply and often.
Close alternatives
Matched by other buffer (defined-outcome) funds, largest first.
| Fund | Cost | Net assets | 1 yr | 3 yr |
|---|---|---|---|---|
| FDAT this fund | 1.16% | $36.5M | +2.3% | +10.6% |
| BUFR FT Vest Laddered Buffer ETF | 0.95% | $10.49B | +11.6% | +16.8% |
| BUFD FT Vest Laddered Deep Buffer ETF | 0.95% | $2.04B | +9.5% | +13.9% |
| PJAN Innovator U.S. Equity Power Buffer ETF - Ja… | 0.79% | $1.44B | +10.5% | +14.8% |
| PDEC Innovator U.S. Equity Power Buffer ETF - De… | 0.79% | $984.1M | +11.6% | +14.9% |
| FDEC FT Vest US Equity Buffer ETF - December | 0.85% | $1.31B | +12.9% | +18.5% |
| FJAN FT Vest US Equity Buffer ETF - January | 0.85% | $1.47B | +12.3% | +17.4% |
| FFEB FT Vest U.S. Equity Buffer Fund - February | 0.85% | $1.42B | +12.9% | +18.6% |
Questions investors ask
Is FDAT good for retirement?
FDAT may fit a limited role, such as a smaller satellite holding. It aims for stock-like growth with lower volatility by moving into cash when its sub-adviser's model sees trouble. Its deepest drop through October 27, 2026 was 8.1%. However, it launched in April 2023 and has not faced a major bear market. It charges 1.16% a year, and its net assets were $36.5 million as of June 30, 2026.
Does FDAT pay dividends?
Yes, FDAT pays distributions every quarter. In the 12 months to October 27, 2026, it paid $1.32 per share, a trailing yield of 5.97%. That figure looks back, not forward. The payouts come from the ETFs the fund holds and from its own trading. With portfolio turnover of 547%, the amounts can change a lot from year to year.
What ETFs does FDAT hold?
As of June 30, 2026, FDAT held 17 ETFs plus 5.4% in cash. The largest were the Health Care Select Sector SPDR (XLV) at 8.4%, the Industrial Select Sector SPDR (XLI) at 8.1% and Vanguard Growth (VUG) at 8.0%. Next came the Utilities Select Sector SPDR (XLU) and Vanguard Mid-Cap Growth (VOT), each near 8.0%. The top 10 made up about 67% of assets. All of its ETF holdings were stock funds at that date.
FDAT vs BUFR: what's the difference?
The two funds use different strategies, so BUFR is not a close substitute. BUFR, the FT Vest Laddered Buffer ETF, is a buffer fund. Funds like it use options to cushion part of a stock-market loss and, in exchange, cap gains. FDAT instead moves between stock ETFs and cash based on its manager's signals. BUFR's expense ratio is 0.95%, compared with 1.16% for FDAT. As of October 27, 2026, BUFR returned 16.8% a year over three years, compared with 10.6% for FDAT.
What is FDAT's expense ratio?
FDAT's expense ratio is 1.16%, which includes a 0.64% management fee, according to its prospectus filed July 28, 2026. The SEC's standard example assumes $10,000 invested with a 5% yearly return. On that basis, costs would be about $118 after one year, $368 after three, $638 after five and $1,409 after ten. The 1.16% is above the 0.86% average of the funds it was compared with. The prospectus also warns that owning other ETFs adds a second layer of fees.