TACK vs. GMMA

Last updated Jul 14, 2026

TACK (Fairlead Tactical Sector Fund) and GMMA (GammaRoad Market Navigation ETF) are both Tactical Allocation funds. TACK is actively managed, while GMMA is passively managed. Over the past year, TACK returned 13.81% vs 8.70% for GMMA. A 0.58 correlation means they provide meaningful diversification when combined. TACK charges 0.76%/yr vs 0.75%/yr for GMMA.

Performance

TACK vs. GMMA - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fairlead Tactical Sector Fund (TACK) and GammaRoad Market Navigation ETF (GMMA). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, TACK achieves a 6.87% return, which is significantly higher than GMMA's 3.38% return.

TACK

• 1D: 0.19%
• 1M: 0.79%
• 6M: 4.63%
• YTD: 6.87%
• 1Y: 13.81%
• 3Y*: 11.26%
• 5Y*: —
• 10Y*: —

GMMA

• 1D: -0.46%
• 1M: 0.94%
• 6M: 2.04%
• YTD: 3.38%
• 1Y: 8.70%
• 3Y*: —
• 5Y*: —
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

TACK vs. GMMA - Yearly Performance Comparison

	2026 (YTD)	2025	2024
TACK Fairlead Tactical Sector Fund	6.87%	10.93%	-0.69%
GMMA GammaRoad Market Navigation ETF	3.38%	8.95%	0.22%

Correlation

The correlation between TACK and GMMA is 0.61, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.61
Correlation (All Time) Calculated using the full available price history since Sep 17, 2024	0.58

The correlation between TACK and GMMA has been stable across timeframes, ranging from 0.58 to 0.61 - a consistent structural relationship.

Return for Risk

TACK vs. GMMA — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

TACK

TACK Risk / Return Rank: 54
TACK Sharpe Ratio Rank: 52
TACK Sortino Ratio Rank: 53
TACK Omega Ratio Rank: 48
TACK Calmar Ratio Rank: 60
TACK Martin Ratio Rank: 55

GMMA

GMMA Risk / Return Rank: 56
GMMA Sharpe Ratio Rank: 51
GMMA Sortino Ratio Rank: 50
GMMA Omega Ratio Rank: 55
GMMA Calmar Ratio Rank: 65
GMMA Martin Ratio Rank: 59

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

TACK vs. GMMA - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fairlead Tactical Sector Fund (TACK) and GammaRoad Market Navigation ETF (GMMA). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

	TACK	GMMA	Difference
Sharpe ratio: Return per unit of total volatility	1.44	1.42	+0.02
Sortino ratio: Return per unit of downside risk	2.06	1.99	+0.07
Omega ratio: Gain probability vs. loss probability	1.25	1.27	-0.03
Calmar ratio: Return relative to maximum drawdown	2.37	2.58	-0.20
Martin ratio: Return relative to average drawdown	7.42	8.11	-0.69

TACK vs. GMMA - Sharpe Ratio Comparison

The current TACK Sharpe Ratio is 1.44, which is comparable to the GMMA Sharpe Ratio of 1.42. The chart below compares the historical Sharpe Ratios of TACK and GMMA, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

TACK vs. GMMA - Drawdown Comparison

The maximum TACK drawdown since its inception was -14.49%, which is greater than GMMA's maximum drawdown of -5.21%. Use the drawdown chart below to compare losses from any high point for TACK and GMMA.

Drawdown Indicators

	TACK	GMMA	Difference
Max Drawdown Largest peak-to-trough decline	-14.49%	-5.21%	-9.28%
Max Drawdown (1Y) Largest decline over 1 year	-5.85%	-3.39%	-2.46%
Max Drawdown (3Y) Largest decline over 3 years	-14.49%	—	—
Current Drawdown Current decline from peak	-0.12%	-0.63%	+0.51%
Average Drawdown Average peak-to-trough decline	-4.14%	-1.23%	-2.91%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.87%	1.08%	+0.79%

Volatility

TACK vs. GMMA - Volatility Comparison

Fairlead Tactical Sector Fund (TACK) and GammaRoad Market Navigation ETF (GMMA) have volatilities of 2.64% and 2.75%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	TACK	GMMA	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.64%	2.75%	-0.11%
Volatility (6M) Calculated over the trailing 6-month period	7.34%	5.08%	+2.26%
Volatility (1Y) Calculated over the trailing 1-year period	9.64%	6.17%	+3.47%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	11.19%	7.33%	+3.86%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	11.19%	7.33%	+3.86%

TACK vs. GMMA - Expense Ratio Comparison

TACK has a 0.76% expense ratio, which is higher than GMMA's 0.75% expense ratio.

Dividends

TACK vs. GMMA - Dividend Comparison

TACK's dividend yield for the trailing twelve months is around 1.30%, less than GMMA's 3.45% yield.

Position	TTM	2025	2024	2023	2022
GMMA GammaRoad Market Navigation ETF	3.45%	3.00%	0.57%	0.00%	0.00%
TACK Fairlead Tactical Sector Fund	1.30%	1.18%	1.26%	1.29%	0.89%

Frequently Asked Questions

Can I hold both TACK and GMMA in my portfolio?

TACK and GMMA have a correlation of 0.61, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, TACK or GMMA?

GMMA has higher volatility (2.75%) compared to TACK (2.64%). In terms of maximum drawdown, TACK dropped -14.49% vs GMMA's -5.21%.

Which ETF is better, TACK or GMMA?

On 1-year performance, TACK leads with 13.81% vs 8.70% for GMMA. On fees, GMMA is cheaper at 0.75% per year. On volatility, TACK has been the lower-risk option at 2.64%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, TACK or GMMA?

Over the 1-year period, TACK has performed better with a 13.81% return vs 8.70%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, TACK or GMMA?

GMMA is cheaper with a 0.75% expense ratio, compared with 0.76% for TACK.

Which ETF pays a higher dividend yield, TACK or GMMA?

GMMA has the higher dividend yield at 3.45%, compared with 1.30% for TACK.

What is the main difference between TACK and GMMA?

They also come from different issuers: Fairlead and GammaRoad Capital Partners. Their fees differ too: 0.76% for TACK and 0.75% for GMMA.

Which has better risk-adjusted returns?

TACK currently has the higher Sharpe Ratio (1.44 vs 1.42), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.