ETF Evaluator:
Monarch Volume Factor Gbl Uncons ETF (MVFG)
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(as of Aug 14)
Best Performing in Global Large-Stock Blend Over the Last Year
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ETF Details
Monarch Volume Factor Gbl Uncons ETF Overview
Monarch Volume Factor Gbl Uncons ETF (MVFG) is a passively managed International Equity Global Large-Stock Blend exchange-traded fund (ETF). Monarch Funds launched the ETF in 2024.
The investment seeks to replicate investment results that generally correspond, before fees and expenses, to the performance of the Monarch Volume Factor Global Unconstrained Index.
The fund is a fund of funds that invests at least 80% of its total assets in the constituents of the index. The index consists of up to 25 equally-weighted equity ETFs that demonstrate positive cash flow. When the cash flow trends are negative, a portion or all of the index consists of one or more treasury ETFs.
About Monarch Volume Factor Gbl Uncons ETF (MVFG)
There are 3 members of the management team with an average tenure of 2.25 years: Dustin Lewellyn (2024), Ernesto Tong (2024) and Christine Johanson (2024). Management tenure is more important for actively managed ETFs than passive index ETFs.
The ETF has 2 primary benchmarks: S&P Global 1200 TR index with a weighting of 100% and Monarch Vol Factor Global Unconstr USD index with a weighting of 100%. Monarch Volume Factor Gbl Uncons ETF has 25 securities in its portfolio. The top 10 holdings constitute 44.2% of the ETF’s assets. The ETF meets the SEC requirement of being classified as a diversified fund. The ETF is not considered to have an ESG focus with its investment selection and management.
Monarch Volume Factor Gbl Uncons ETF is part of the Equity global asset class and is within the International Equity ETF group. Monarch Volume Factor Gbl Uncons ETF has 21.8% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 77.6% There is 21.8% 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). Monarch Volume Factor Gbl Uncons ETF has 0.5% of the portfolio in cash.
Assets Under Management
The fund has $179 million in total assets, which is below the $2 billion average for the Global Large-Stock Blend 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.
MVFG 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 Monarch Volume Factor Gbl Uncons ETF expense ratio is high compared to funds in the Global Large-Stock Blend category. Monarch Volume Factor Gbl Uncons ETF has an expense ratio of 1.41%, which is 187% higher than its category average, making the fund expense ratio grade a F. 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. Monarch Volume Factor Gbl Uncons ETF has a portfolio turnover rate of 419%, which indicates that it holds its assets around / 0.0 years. By way of comparison, the average portfolio turnover is 50% for the Global Large-Stock Blend category.
Recently, in the month of July 2026, Monarch Volume Factor Gbl Uncons ETF returned 0.5%, which earned it a grade of C, as the Global Large-Stock Blend category had an average return of 0.0%. 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.
Monarch Volume Factor Gbl Uncons ETF has a trailing yield of 1.53%, which is below the 1.66% category average.
The fund normally distributes its income quarterly 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.
Monarch Volume Factor Gbl Uncons ETF Grades
Year to date, the ETF has returned 13.3%, 4.1 percentage points better than the category, which translates into a grade of A. The fund has returned 27.6% over the past year (grade of A).
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MVFG Trailing NAV Total Returns Data as of 7/31/26
| Last Month |
Last Quarter |
Ann'l. 1Yr |
Ann'l. 3Yr |
Ann'l. 5Yr |
Ann'l. 10Yr |
|
| MVFG Return (NAV) | 0.5% | 3.1% | 27.6% | na | na | na |
| MVFG Return (Price) | 0.4% | 3.0% | 27.7% | na | na | na |
| NAV +/- Price Return | 0.102% | 0.071% | -0.102% | na | na | na |
| Global Large-Stock Blend Avg | 0.0% | 3.1% | 19.1% | 15.1% | 8.5% | 11.5% |
| MVFG Grade (NAV) | C | D | A | na | na | na |
| +/- Category (NAV) | 0.5% | 0.0% | 8.5% | na | na | na |
| MVFG Tax-Cost Ratio | na | na | 0.7% | na | na | na |
MVFG Annual NAV Total ReturnsData as of 7/31/26
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
| MVFG Return (NAV) | 13.3% | 20.9% | na | na | na | na | na | na | na | na | na |
| MVFG Return (Price) | 13.2% | 21.0% | na | na | na | na | na | na | na | na | na |
| NAV +/- Price Ret | -0.007% | 0.003% | na | na | na | na | na | na | na | na | na |
| Global Large-Stock Blend Avg | 9.2% | 20.4% | 13.8% | 18.7% | -17.7% | 17.3% | 18.3% | 26.8% | -9.1% | 23.4% | 8.1% |
| MVFG Grade (NAV) | A | C | na | na | na | na | na | na | na | na | na |
| +/- Category | 4.1% | 0.5% | 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: | 1.5% |
| Total Assets: | $ 180 Mil |
| Share Class Assets: | $ 180 Mil |
| Turnover: | 419.0% |
| Expense Ratio: | 1.41% |
| Index Fund: | Yes |
| Index Tracked: | S&P Global 1200 TR |
| Index Weighting: | 100% |
| Leveraged: | No |
| Socially Responsible Fund: | No |
| Capital Gains Distribution Frequency: | Annually |
| Income Distribution Frequency: | Quarterly |
Management Team
| Number of Managers: 3 | |||
| Longest Tenure: 2.4 years | |||
| Average Tenure: 2.2 years | |||
| Managers (Year): Lewellyn Dustin (2024), Tong Ernesto (2024), Johanson Christine (2024) | |||
Portfolio Composition (as of 7/31/26)
| # of Holdings: | 25 |
| % in Top 10 Holdings: | 44.2% |
| Fund is Non-Diversified: | No |
| % in Foreign Issues: | 21.8% |
Portfolio Allocation |
|
| Domestic Stock: | 77.6% |
| Foreign Stock: | 21.8% |
| Preferred Stock: | 0.0% |
| Domestic Bond: | 0.0% |
| Foreign Bond: | 0.0% |
| Convertible Bond: | 0.0% |
| Other: | 0.0% |
| Cash: | 0.5% |
Purchase Information
| Legal Structure: | Open Ended Investment Company |
| Fund Family: | Monarch Funds |
| Phone Number: | 541-291-4405 |
| Website: | |
| Inception Date: | March 6, 2024 |
Expenses and Fees
| Expense Ratio (%): | 1.41% (Rating: High) |
| Category Average Expense Ratio (%): | 0.49% |
