ETF Evaluator:
Monarch Volume Factor Dividend Tree ETF ()
Follow This ETF
(as of Aug 26)
Best Performing in Moderate Allocation Over the Last Year
| 29.1% | Adaptive Core ETF (RULE) |
| 21.3% | Monarch Volume Factor Dividend Tree ETF (MVFD) |
| 19.5% | Avantis Moderate Allocation ETF (AVMA) |
| 19.4% | Ned Davis Research 360 Dyn Allc ETF (NDAA) |
| 16.0% | SMI 3Fourteen REAL Asset Allocation ETF (RAA) |
Risk
Index
Risk
Index
ETF Details
Monarch Volume Factor Dividend Tree ETF Overview
Monarch Volume Factor Dividend Tree ETF (MVFD) is a passively managed Allocation Moderate Allocation 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 Dividend Tree Index.
The fund invests sat least 80% of its total assets in the constituents of the index. The index consists of 40 equally-weighted individual stocks that demonstrate positive cash flow and an ability to pay dividends and up to 5 fixed income ETFs if the cash flow trend is negative.
About Monarch Volume Factor Dividend Tree ETF (MVFD)
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 Composite 1500 (TR) USD index with a weighting of 100% and Monarch Vol Factor Dividend Tree USD index with a weighting of 100%. Monarch Volume Factor Dividend Tree ETF has 41 securities in its portfolio. The top 10 holdings constitute 28.7% 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 Dividend Tree ETF is part of the Allocation global asset class and is within the Allocation ETF group. Monarch Volume Factor Dividend Tree ETF has 0.0% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 99.8% 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). Monarch Volume Factor Dividend Tree ETF has 0.2% of the portfolio in cash.
Assets Under Management
The fund has $123 million in total assets, which is below the $411 million average for the Moderate Allocation 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.
MVFD 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 Dividend Tree ETF expense ratio is high compared to funds in the Moderate Allocation category. Monarch Volume Factor Dividend Tree ETF has an expense ratio of 1.10%, which is 16% higher than its category average, making the fund expense ratio grade a D. 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 Dividend Tree ETF has a portfolio turnover rate of 321%, which indicates that it holds its assets around / 0.0 years. By way of comparison, the average portfolio turnover is 162% for the Moderate Allocation category.
Recently, in the month of July 2026, Monarch Volume Factor Dividend Tree ETF returned 2.5%, which earned it a grade of A, as the Moderate Allocation category had an average return of -1.0%. 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 Dividend Tree ETF has a trailing yield of 1.51%, which is below the 2.36% 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 Dividend Tree ETF Grades
Year to date, the ETF has returned 9.8%, 2.5 percentage points better than the category, which translates into a grade of A. The fund has returned 21.3% over the past year (grade of A).
For more ETF grades, analysis and screening tools to help your investment discovery, join AAII for a $2, full-access trial. Learn more here: https://invest.aaii.com/membership.
Otherwise, for more information about Monarch Volume Factor Dividend Tree ETF, including its riskiness, submit your email to unlock the rest of the article.
Gain access to exclusive AAII member-only content.
MVFD 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 |
|
| MVFD Return (NAV) | 2.5% | 0.1% | 21.3% | na | na | na |
| MVFD Return (Price) | 2.4% | 0.0% | 21.4% | na | na | na |
| NAV +/- Price Return | 0.068% | 0.043% | -0.137% | na | na | na |
| Moderate Allocation Avg | -1.0% | 1.5% | 13.8% | 10.7% | 4.9% | na |
| MVFD Grade (NAV) | A | F | A | na | na | na |
| +/- Category (NAV) | 3.5% | -1.4% | 7.5% | na | na | na |
| MVFD Tax-Cost Ratio | na | na | 0.7% | na | na | na |
MVFD Annual NAV Total ReturnsData as of 7/31/26
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
| MVFD Return (NAV) | 9.8% | 10.1% | na | na | na | na | na | na | na | na | na |
| MVFD Return (Price) | 9.8% | 10.1% | na | na | na | na | na | na | na | na | na |
| NAV +/- Price Ret | -0.002% | -0.004% | na | na | na | na | na | na | na | na | na |
| Moderate Allocation Avg | 7.4% | 10.4% | 12.0% | 10.2% | -14.7% | 13.8% | 11.5% | 18.3% | -7.5% | na | na |
| MVFD Grade (NAV) | A | C | na | na | na | na | na | na | na | na | na |
| +/- Category | 2.5% | -0.3% | 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: | $ 124 Mil |
| Share Class Assets: | $ 124 Mil |
| Turnover: | 321.0% |
| Expense Ratio: | 1.10% |
| Index Fund: | Yes |
| Index Tracked: | S&P Composite 1500 (TR) USD |
| 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: | 41 |
| % in Top 10 Holdings: | 28.7% |
| Fund is Non-Diversified: | No |
| % in Foreign Issues: | 0.0% |
Portfolio Allocation |
|
| Domestic Stock: | 99.8% |
| Foreign Stock: | 0.0% |
| Preferred Stock: | 0.0% |
| Domestic Bond: | 0.0% |
| Foreign Bond: | 0.0% |
| Convertible Bond: | 0.0% |
| Other: | 0.0% |
| Cash: | 0.2% |
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 (%): | 1.10% (Rating: High) |
| Category Average Expense Ratio (%): | 0.95% |
