ETF Evaluator:
REX Defensive Autocallable Income ETF (DACL)
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(as of Sep 18)
Best Performing in Defined Outcome Over the Last Year
| 23.6% | FT Vest Emerging Mkts Buffr ETF - Mar (TMAR) |
| 21.9% | Innovator Growth-100 Acltd Ps ETF™ April (QTAP) |
| 20.9% | Innovator Emerg Mkts Pwr Bffr ETF™-Oct (EOCT) |
| 20.6% | FT Vest U.S. Eq Uncppd Acceler ETF - Jan (UXJA) |
| 20.5% | ProShares Nasdaq-100 Dynamic Buffer ETF (QB) |
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ETF Details
REX Defensive Autocallable Income ETF Overview
REX Defensive Autocallable Income ETF (DACL) is a passively managed Nontraditional Equity Defined Outcome exchange-traded fund (ETF). Rex launched the ETF in 2026.
The investment seeks to generate monthly income while providing enhanced downside mitigation through exposure to the Bloomberg U.S. Large Cap VolMax Defensive Autocallable Index (the “Autocallable Index”).
The fund, under normal market conditions, will invest at least 80% of its net assets (plus any borrowings for investment purposes) in derivative instruments that provide exposure to the Autocallable Index. It is non-diversified.
About REX Defensive Autocallable Income ETF (DACL)
There are 2 members of the management team with an average tenure of 0.05 years: Matthew Pelletier (2026) and Matthew Holcomb (2026). Management tenure is more important for actively managed ETFs than passive index ETFs.
The ETF has 1 primary benchmark: Blmbrg US Lrg Cp VlMxDfnsvAtcllbl TR USD index with a weighting of 100%. REX Defensive Autocallable Income ETF has 5 securities in its portfolio. The top 10 holdings constitute 199.6% of the ETF’s assets. The ETF meets the SEC requirement of being classified as a nondiversified fund. The ETF is not considered to have an ESG focus with its investment selection and management.
REX Defensive Autocallable Income ETF is part of the Equity global asset class and is within the Nontraditional Equity ETF group. REX Defensive Autocallable Income ETF has 0.0% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 0.0% There is 0.0% allocated to foreign stock, and 0.0% is allocated to preferred stocks. The bond allocation as a percentage of total assets is 0.0% (0.0% domestic bond, 0.0% foreign bond and 0.0% convertible bond). REX Defensive Autocallable Income ETF has 0.6% of the portfolio in cash.
Assets Under Management
The fund has $500 million in total assets, which is below the $181 million average for the Defined Outcome category. Normally, lower assets under management translates to higher average expense ratios, and greater total assets are desired. However, for some investment categories, such as small-cap investing, it may be difficult for the manager to fully employ the desired active strategy if assets grow too large or too quickly.
DACL Performance and Fees
The expense ratio measures how much of a fund’s assets are used for administrative expenses and operating expenses, including adviser fees and fees for the transfer agent and custodial services. The REX Defensive Autocallable Income ETF expense ratio is above average compared to funds in the Defined Outcome category. REX Defensive Autocallable Income ETF has an expense ratio of 0.65%, which is 9% lower than its category average, making the fund expense ratio grade a B. While it is difficult to predict returns, it is known that high annual expense ratios reduce your rate of return, and excessive fees are difficult to overcome. Active management normally comes with higher expense ratios than passive index management. Certain investment categories such as small company and foreign also normally have higher expense ratios. It is best to compare fund expense ratios against the category averages for meaningful assessments.
High portfolio turnover can translate to higher expenses and lower aftertax returns. REX Defensive Autocallable Income ETF has a portfolio turnover rate of 0%, which indicates that it holds its assets around /years. By way of comparison, the average portfolio turnover is 6% for the Defined Outcome category.
Recently, in the month of August 2026, REX Defensive Autocallable Income ETF returned 0.0%, which earned it a grade of NA, as the Defined Outcome category had an average return of 1.6%. The letter grades of A, B, C, D and F are based upon relative rankings within the investment category. A grade of A, for example, would indicate that the return is in the highest 20% for that time period compared to all ETFs in that category.
REX Defensive Autocallable Income ETF has a trailing yield of 0.00%, which is below the 0.45% category average.
The fund normally distributes its income monthly and its capital gains annually.
It’s natural to seek the best-performing investments, but you must consider the relationship between risk and return and the impact of costs and taxes on your realized returns.
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DACL Trailing NAV Total Returns Data as of 8/31/26
| Last Month |
Last Quarter |
Ann'l. 1Yr |
Ann'l. 3Yr |
Ann'l. 5Yr |
Ann'l. 10Yr |
|
| DACL Return (NAV) | na | na | na | na | na | na |
| DACL Return (Price) | na | na | na | na | na | na |
| NAV +/- Price Return | na | na | na | na | na | na |
| Defined Outcome Avg | 1.6% | 1.9% | 11.4% | 12.6% | 8.7% | na |
| DACL Grade (NAV) | na | na | na | na | na | na |
| +/- Category (NAV) | na | na | na | na | na | na |
| DACL Tax-Cost Ratio | na | na | na | na | na | na |
DACL Annual NAV Total ReturnsData as of 8/31/26
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
| DACL Return (NAV) | na | na | na | na | na | na | na | na | na | na | na |
| DACL Return (Price) | na | na | na | na | na | na | na | na | na | na | na |
| NAV +/- Price Ret | na | na | na | na | na | na | na | na | na | na | na |
| Defined Outcome Avg | 7.4% | 11.3% | 12.4% | 18.5% | -8.8% | 9.7% | 7.7% | 16.4% | -6.7% | 15.8% | na |
| DACL Grade (NAV) | na | na | na | na | na | na | na | na | na | na | na |
| +/- Category | na | na | na | na | na | na | na | na | na | na | na |
| Risk Measures | |
| Beta: | na |
| R-Squared: | na |
| Standard Deviation: | na |
| Category Risk Index: | na |
| Category Risk Rating: | |
| Total Risk Index: | na |
| Total Risk Rating: | |
| Portfolio Characteristics | |
| Yield: | -- |
| Total Assets: | $ 1 Mil |
| Share Class Assets: | $ 1 Mil |
| Turnover: | na |
| Expense Ratio: | 0.65% |
| Index Fund: | Yes |
| Index Tracked: | Blmbrg US Lrg Cp VlMxDfnsvAtcllbl TR USD |
| Index Weighting: | 100% |
| Leveraged: | No |
| Socially Responsible Fund: | No |
| Capital Gains Distribution Frequency: | Annually |
| Income Distribution Frequency: | Monthly |
Management Team
| Number of Managers: 2 | |||
| Longest Tenure: 0.1 years | |||
| Average Tenure: 0.1 years | |||
| Managers (Year): Pelletier Matthew (2026), Holcomb Matthew (2026) | |||
Portfolio Composition (as of 8/31/26)
| # of Holdings: | 5 |
| % in Top 10 Holdings: | 199.6% |
| Fund is Non-Diversified: | Yes |
| % in Foreign Issues: | 0.0% |
Portfolio Allocation |
|
| Domestic Stock: | 0.0% |
| Foreign Stock: | 0.0% |
| Preferred Stock: | 0.0% |
| Domestic Bond: | 0.0% |
| Foreign Bond: | 0.0% |
| Convertible Bond: | 0.0% |
| Other: | 99.4% |
| Cash: | 0.6% |
Purchase Information
| Legal Structure: | Open Ended Investment Company |
| Fund Family: | Rex |
| Phone Number: | 800-617-0004 |
| Website: | |
| Inception Date: | August 12, 2026 |
Expenses and Fees
| Expense Ratio (%): | 0.65% (Rating: Above Avg) |
| Category Average Expense Ratio (%): | 0.71% |
