RORO
Risk-On/Risk-Off ETF
Fund Summary
RORO ETF rotates offensively or defensively based on historically proven leading indicators of volatility, with the goal of taking less risk at the right time.
The ETF rotates around US small-caps and growth (risk-on), and Treasuries (risk-off) based on Lumber relative to Gold as a risk trigger.
Fund Information
| Fund Name | ATAC US Rotation ETF |
| Fund Inception | 11/17/2020 |
| Ticker | RORO |
| Primary Exchange | NYSE |
| CUSIP | 886364843 |
| IOPV Symbol | RORO.IV |
| NAV Symbol | RORO.NV |
| Gross Expense Ratio | 1.40% |
| Net Expense Ratio * | 1.13% |
| 30-Day SEC Yield** | 0.86% |
*The Fund’s expense ratio includes Acquired Fund Fees and Expenses (“AFFE”). If AFFE were excluded, the expense ratio would be 0.98%. The Fund’s investment adviser has contractually agreed to reduce its unitary management fee to 0.98% of the Fund’s average daily net assets through at least December 31, 2022.
**The 30-Day SEC yield is calculated with a standardized formula mandated by the SEC. The formula is based on maximum offering price per share and does not reflect waivers in effect. As of 10/31/2022
Fund Data and Pricing
Date as of 08/13/2021
| Net Assets | $7.44m |
| Nav | $14.18 |
| Shares Outstanding | 525,000 |
| Premium/discount Percentage | 0.22% |
| Closing Price | $14.21 |
| Median 30 Day Spread | 0.36% |
| Net Assets | $39.00m |
| Nav | $24.44 |
| Shares Outstanding | 1,600,000 |
| Premium/discount Percentage | 0.03% |
| Closing Price | $24.44 |
| Median 30 Day Spread | 0.24% |
IOPV, or Indicative Optimized Portfolio Value, is a calculation disseminated by the stock exchange that approximates the Fund’s NAV every fifteen seconds throughout the trading day.
30-Day Median Spread is a calculation of the Fund’s median bid-ask spread, expressed as a percentage rounded to the nearest hundredth, computed by: identifying the Fund’s national best bid and national best offer as of the end of each 10-second interval during each trading day during the last 30 calendar days; dividing the difference between each such bid and offer by the midpoint of the national best bid and national best offer; and identifying the median of those values.
Performance Returns (Month-End & Quarter-End)
Inception Date: 11/17/2020
| Month-End as of October 31, 2022 | Quarter-End as of September 30, 2022 | ||||||||
| MTD | QTD | YTD | SINCE INCEPTION | QTD | YTD | 1 YEAR | 3 YEAR | SINCE INCEPTION | |
| Market Price | 6.13% | 6.13% | -41.80% | -16.54% | -9.58% | -45.16% | -42.10% | - | -19.82% |
| Fund NAV | 6.30% | 6.30% | -45.24% | -16.59% | -9.77% | -45.24% | -42.18% | - | -19.93% |
The performance data quoted above represents past performance. Past performance does not guarantee future results. The investment return and principal value of an investment will fluctuate so that an investor’s shares, when sold or redeemed, may be worth more or less than their original cost and current performance may be lower or higher than the performance quoted above. Performance current to the most recent month-end can be obtained by calling 855-atacfund.
Short term performance, in particular, is not a good indication of the fund’s future performance, and an investment should not be made based solely on historical returns. Returns beyond 1 year are annualized.
A fund’s NAV is the sum of all its assets less any liabilities, divided by the number of shares outstanding. The market price is the most recent price at which the fund was traded.
The fund actively rotates between long-term US treasuries and US equities on a weekly basis based on a proprietary signal that considers the relative price performance of gold and lumber. The fund is composed of US-listed ETF securities and may use leverage.
Performance Returns (Calendar Year)
Distribution Detail
| FUND NAME | EX-DATE | RECORD DATE | PAYABLE DATE | AMOUNT |
| RORO | 12/29/2021 | 12/30/2021 | 12/31/2021 | $0.6240 |
| RORO | 03/28/2022 | 03/29/2022 | 03/31/2022 | - |
| RORO | 6/27/2022 | 6/28/2022 | 6/30/2022 | - |
| RORO | 9/27/2022 | 9/28/2022 | 9/30/2022 | - |
Top 10 Holdings
Holdings subject to change.
Date as of 07/20/2021
Holdings are subject to change.
Holdings are subject to change.
How to Purchase RORO
The ATAC Rotation ETF (RORO) is available through various channels including via phone 1-855-282-2386, broker-dealers, investment advisers, and other financial services firms, including:
This Fund is not affiliated with these financial service firms. Their listing should not be viewed as a recommendation or endorsement.
Investors should consider the investment objectives, risks, charges and expenses carefully before investing. For a prospectus or summary prospectus with this and other information about the Fund, click here. Read the prospectus or summary prospectus carefully before investing.
Fund Risks: An investment in the Fund is subject to numerous risks including the possible loss of principal. There can be no assurance that the Fund will achieve its investment objective. Equity securities, such as common stocks, are subject to market, economic and business risks that may cause their prices to fluctuate. As with all ETFs, Fund shares may be bought and sold in the secondary market at market prices. The market price normally should approximate the Fund’s net asset value per share (NAV), but the market price sometimes may be higher or lower than the NAV. The Fund is new with a limited operating history. There are a limited number of financial institutions authorized to buy and sell shares directly with the Fund, and there may be a limited number of other liquidity providers in the marketplace. There is no assurance that Fund shares will trade at any volume, or at all, on any stock exchange. Low trading activity may result in shares trading at a material discount to NAV. Please see the prospectus and summary prospectus for a complete description of principal risks.
The Fund’s investments will be concentrated in an industry or group of industries to the extent the portfolio manager deems it appropriate to be so concentrated. In such event, the value of Shares may rise and fall more than the value of shares that invest in securities of companies in a broader range of industries. Investments in securities or other instruments of foreign securities involve certain risks not involved in domestic investments and may experience more rapid and extreme changes in value than investments in securities of U.S. companies.
The fund is distributed by Foreside Fund Services, LLC.