Investment objective & strategy
As of Oct. 27, 2025 · prospectusObjective. The DF Tactical Income Funds (the Fund) primary investment objective is total return from income
Strategy. Principal Investment Strategy: The Funds adviser seeks to achieve the Funds primary investment objective by investing in income-producing fixed income and alternative strategy exchange-traded funds (ETFs) and mutual funds (each a fund and collectively funds). The adviser invests Fund assets in funds without restriction as to minimum issuer credit quality, sector, capitalization, country of origin, or security maturity. Fixed income funds may invest in non-investment grade fixed income securities, commonly known as high yield or junk bonds that are rated below Baa3 by Moodys Investors Service or similarly by another rating agency. The Fund considers alternative strategy funds to be those that invest in commodities, currencies or other alternative assets. The Fund may also invest in funds that primarily invest … Principal Investment Strategy: The Funds adviser seeks to achieve the Funds primary investment objective by investing in income-producing fixed income and alternative strategy exchange-traded funds (ETFs) and mutual funds (each a fund and collectively funds). The adviser invests Fund assets in funds without restriction as to minimum issuer credit quality, sector, capitalization, country of origin, or security maturity. Fixed income funds may invest in non-investment grade fixed income securities, commonly known as high yield or junk bonds that are rated below Baa3 by Moodys Investors Service or similarly by another rating agency. The Fund considers alternative strategy funds to be those that invest in commodities, currencies or other alternative assets. The Fund may also invest in funds that primarily invest in dividend-paying equity securities of U.S., foreign and emerging market issuers. The Fund considers emerging market issuers to be from those countries or issuers organized in those countries represented in the MSCI Emerging Markets Index. The adviser seeks to achieve the Funds secondary investment objective by reallocating the Funds investment portfolio to short-term maturity fixed income funds when it believes fixed income markets will decline. During such periods, the Fund may invest up to 100% of its assets in such short-term maturity fixed income funds. Accordingly, the Fund may not be able to achieve its primary investment objective of total return during these periods. The adviser tactically allocates the Funds assets based on credit research and long-term market trends. In selecting funds for the Funds portfolio, the adviser considers a funds underlying holdings, the investment exposure of the funds and its liquidity. The adviser may invest the Funds assets in funds that are subadvised or advised by the adviser. The adviser may engage in frequent buying and selling of securities to achieve the Funds investment objectives .
Top holdings
As of March 31, 2026 · N-PORT| Security | Ticker | Value | % of fund |
|---|---|---|---|
| BBLX 5Y UST ETF | — | $24.08M | 32.92% |
| State Street SPDR Portfolio Short Term Treasury ETF | SPTS | $20.57M | 28.12% |
| STATE STREET SPDR BLOOMBERG 1-3 MONTH T-BILL ETF MUTUAL FUND | BIL | $20.50M | 28.01% |
| DF TCTL DVD FN-I | — | $7.26M | 9.92% |
| MONEYMKT | FIGXX | $836.36K | 1.14% |
Portfolio moves
Dec 31, 2025 → Mar 31, 2026How many positions this fund opened, exited, grew, trimmed, or left unchanged between its two most recent N-PORT snapshots — net changes between point-in-time reports, not a trade log.
Similar funds
Funds whose portfolios most overlap this one, by weight| Fund | Overlap | Net exp. |
|---|---|---|
| DF Tactical Yield Fund · FLOAX, FLOCX, FLOTX | 47% | 1.92% |
| DF Tactical Allocation Fund · GTAAX, GLACX, GTAIX | 47% | 1.72% |
| Pinnacle Multi-Strategy Core Fund · APSHX, CPSHX, IPSHX | 28% | 1.55% |
Advisers
| Firm | Role |
|---|---|
| Donoghue Forlines LLC | Adviser |
Footnotes
- Expense ratio as of October 27, 2025, from the fund's prospectus.
- Net assets and holdings count as of March 31, 2026, from the fund's N-PORT filing.
- Total return for calendar year 2025, before tax and after fund expenses. Computed by compounding the twelve monthly total returns the fund reported in its SEC N-PORT filings for 2025 (the latest prospectus does not yet chart this year).
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