At a glance
JOJO charges 1.24% a year, above the 0.86% average of the 7 funds most like it (the most expensive of 8). It has $4.5M in assets, the 8th largest of that group; it paid 5.42% of its price in distributions over the past 12 months, monthly. Over the past year it returned −1.6% with distributions reinvested, the weakest of those 8 funds; over three years it returned +7.6% a year. At its worst it fell 24.6% in the 2022 bear market (S&P 500: 24.5%), and was back at its earlier high 41 months after the low.
The short version
ATAC Credit Rotation ETF (JOJO) is an actively managed fund of funds that holds either high-yield (“junk”) bond ETFs or long-term US Treasury ETFs, switching on a weekly signal that compares utility stocks with the S&P 500. It aims to earn junk-bond income in calm markets and shift to Treasuries before credit stress, but it charges 1.24% a year, held just $4.5 million as of August 31, 2026, and lost 22.11% in 2022.
Price history
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JOJO -1.6% 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 | |
|---|---|---|---|---|---|---|
| JOJO official prospectus, to Dec 31, 2024 | — | +2.86% | — | — | — | -4.28% |
| JOJO price data to Oct 27, 2026 | -1.2% | -1.6% | +7.6% | -1.7% | — | -1.6% |
- Over the year to Oct 27, 2026, JOJO returned -1.6%, 8th of 8 among similar funds.
- Its 5-year annualized return was -1.7%.
- Its worst full calendar year was 2022 (-22.1%); its best was 2025 (+10.5%).
- The deepest fall in its price history was 28.5% (Nov 5, 2021 to Sep 27, 2022), not yet recovered.
Show as a table
| Year | Price data | Prospectus (official) |
|---|---|---|
| 2026 (to date) | -1.2% | — |
| 2025 | +10.5% | — |
| 2024 | +2.7% | +2.86% |
| 2023 | +7.7% | +7.69% |
| 2022 | -22.1% | -22.11% |
| 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 | Lost 22.7% over that stretch · deepest drop along the way 24.6%, back to its old high 40.5 months after the low |
Dividends and income
Show as a table
| Year | Per share | Change |
|---|---|---|
| 2026 (to date) | $0.6200 | |
| 2025 | $0.7400 | +2.8% |
| 2024 | $0.7200 | +9.1% |
| 2023 | $0.6600 | +26.9% |
| 2022 | $0.5200 |
What's inside
As of Aug 31, 2026, the fund held 2 securities; the ten largest made up 99.64% of assets. It also reported 67.66% in a money-market fund, most likely cash collateral from lending out shares rather than uninvested money.
| Fund held | Weight | |
|---|---|---|
| iShares iBoxx USD High Yield Corporate Bond ETF | 69.75% | |
| Xtrackers USD High Yield Corporate Bond ETF | 29.88% |
By country
United States 99.64%By asset type
Stocks 99.64%What changed recently
- Over the three months to Aug 31, 2026, investors withdrew a net $1.1M (creations minus redemptions, per the N-PORT report).
- Monthly total returns reported for that quarter: -0.08%, -3.27%, +0.84%.
How it works
JOJO, from Tidal Financial Group, is run by sub-adviser Tactical Rotation Management, LLC. The sub-adviser follows signals from the ATAC Credit-On/Credit-Off Index, which is owned by the fund's adviser. Every week the index compares the rolling multi-week performance of the Utilities Select Sector SPDR Fund (XLU) with the SPDR S&P 500 ETF Trust (SPY). The sub-adviser believes utilities tend to beat the market ahead of stock market turmoil and widening credit spreads. (A credit spread is the extra yield riskier bonds pay over Treasuries. When it widens, junk bond prices usually fall.)
When utilities lag, the index is “Credit-On” and the fund holds ETFs that invest mainly in junk bonds. These are bonds rated BB+ or lower by S&P or Fitch, or Ba1 or lower by Moody's. When utilities lead, the index turns “Credit-Off” and the fund holds ETFs of long-term Treasuries, such as 20-year bonds. It may also hold bonds directly. As of August 31, 2026, it was Credit-On. It had 69.8% in iShares iBoxx USD High Yield Corporate Bond ETF (HYG) and 29.9% in Xtrackers USD High Yield Corporate Bond ETF (HYLB).
Because the signal can flip weekly, trading is heavy. The prospectus lists 1,141% turnover, which adds costs and can create short-term capital gains. Sharp moves near the end of a measuring period can also skew a signal, and switches may lag market turns.
What it really costs
- JOJO charges 1.24% a year, versus an average of 0.86% for the similar funds below (8th of 8, cheapest first).
- Of that, 1.25% is the management fee; the rest covers other fund expenses.
- The fee includes a 0.27% waiver from the adviser, which may end.
- Using the prospectus's standard example, $10,000 invested would cost about $126 in the first year and $1,779 over 10 years (assuming a 5% annual return).
| Cost of $10,000 (SEC example) | 1 yr | 3 yrs | 5 yrs | 10 yrs |
|---|---|---|---|---|
| JOJO | $126 | $451 | $798 | $1,779 |
Structure and tax notes
- Invests in other funds rather than directly in stocks or bonds, so its holdings are those funds.
- Bond prices move opposite to interest rates; the longer the maturities it holds, the more its price reacts to rate changes.
In a retirement portfolio
JOJO is a tiny, high-cost tactical bond strategy that lost 22.11% in 2022, so it fits better as a small side position than as a core bond holding.
JOJO launched in July 2021, after the 2008 financial crisis and the 2020 COVID crash. In the 2022 bear market it fell 24.6% between March 1 and September 27, 2022. It took 40.5 months to recover, reaching its old level on February 12, 2026. It lost 22.11% in 2022, its worst calendar year. Its deepest drop, 28.5% from a November 2021 high, was not recovered as of October 27, 2026. Switching between bond types offers little shelter when rising rates push junk bonds and long Treasuries down together. Anyone forced to cash in shares near the 2022 low would have locked in a deep loss.
JOJO pays monthly, and its trailing 12-month yield was 5.42% as of October 27, 2026. The 1.24% expense ratio eats into that income. Its 1,141% turnover can also produce taxable short-term gains outside retirement accounts. 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 a rules-based switch between junk-bond ETFs and long-term Treasury ETFs, set weekly by how utility stocks perform against the S&P 500.
- Income-focused investors who value monthly payouts; the trailing 12-month yield was 5.42% as of October 27, 2026.
- Investors holding it in an IRA or similar account, where short-term gains from its 1,141% turnover aren't taxed year by year.
Look elsewhere if
- Cost-conscious investors: the 1.24% expense ratio means about $126 in costs on $10,000 after one year, under the SEC's standard example.
- Investors wanting bond-fund stability: it lost 22.11% in 2022 and had not regained its November 2021 high as of October 27, 2026.
- Investors wary of tiny funds: net assets were about $4.5 million as of August 31, 2026, after $1.1 million in net outflows over three months.
Close alternatives
Matched by other buffer (defined-outcome) funds, largest first.
| Fund | Cost | Net assets | 1 yr | 3 yr |
|---|---|---|---|---|
| JOJO this fund | 1.24% | $4.5M | -1.6% | +7.6% |
| 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
What does JOJO ETF invest in?
JOJO invests in other ETFs. It holds either high-yield (“junk”) corporate bond funds or long-term US Treasury funds, depending on a weekly signal. As of August 31, 2026, it held two junk-bond ETFs: iShares iBoxx USD High Yield Corporate Bond ETF (HYG), at 69.8% of assets, and Xtrackers USD High Yield Corporate Bond ETF (HYLB), at 29.9%. When the signal turns “Credit-Off,” the fund moves into ETFs holding long-term Treasuries, such as 20-year bonds.
Does JOJO pay monthly dividends?
Yes. JOJO pays distributions monthly. Over the 12 months to October 27, 2026, it paid about $0.80 per share, a trailing yield of 5.42%. Income can change when the fund switches holdings, because junk bonds usually pay more interest than Treasuries. Its heavy trading, with 1,141% portfolio turnover, can also produce short-term capital gains. In taxable accounts, those gains are taxed at ordinary income rates.
What's the difference between JOJO and HYG?
HYG always holds junk bonds. JOJO holds junk-bond ETFs such as HYG only when its weekly signal is “Credit-On.” When the signal flips to “Credit-Off,” JOJO moves into long-term Treasury ETFs instead. As of August 31, 2026, HYG made up 69.8% of JOJO's assets. Owning HYG directly avoids JOJO's 1.24% expense ratio and heavy trading. It also gives up the switch into Treasuries that JOJO's strategy is built around.
Is JOJO good for retirement income?
It may suit some retirees as a small side holding, but its record shows real risk for a bond fund. JOJO pays monthly, and its trailing yield was 5.42% as of October 27, 2026. But it lost 22.11% in 2022, and its 28.5% drop from a November 2021 high had not been recovered as of that date. Costs are high at 1.24% a year, and net assets were only about $4.5 million as of August 31, 2026.
What is JOJO's expense ratio?
JOJO's expense ratio is 1.24% a year, according to the prospectus filed December 22, 2025. The SEC's standard example assumes $10,000 invested, a 5% annual return and cashing out at the end of each period. On that basis, costs would total about $126 after one year, $451 after three years, $798 after five and $1,779 after ten. Trading costs from its 1,141% portfolio turnover are not included in that ratio.