ETF Evaluator:
FundX Flexible ETF ()
Follow This ETF
(as of Aug 26)
Best Performing in Multisector Bond Over the Last Year
| 7.3% | Eaton Vance Income Opportunities ETF (XAGG) |
| 7.1% | Bluemonte Diversified Income ETF (BLUI) |
| 7.0% | Rareview Dynamic Fixed Income ETF (RDFI) |
| 6.3% | FolioBeyond Enhanced Fixed Inc Prm ETF (FIXP) |
| 5.6% | Neuberger Flexible Credit Income ETF (NBFC) |
Risk
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Risk
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ETF Details
FundX Flexible ETF Overview
FundX Flexible ETF (XFLX) is an actively managed Taxable Bond Multisector Bond exchange-traded fund (ETF). Fund X launched the ETF in 2002.
The investment seeks to generate total return, which is capital appreciation plus current income.
The ETF is an ETF-of-ETFs and as such invests primarily in other ETFs. The underlying ETFs, in turn, invest primarily in individual securities such as common stocks and corporate or government bonds. Under normal market conditions, the ETF will invest predominately in Bond underlying ETFs of varying maturity, credit quality (including high-yield securities, or “junk bonds”) and regional exposure.
About FundX Flexible ETF (XFLX)
There are 4 members of the management team with an average tenure of 6.79 years: Steven Cowley (2025), Lance Messervy (2025), Sean McKeon (2002) and Jeffrey Smith (2025). Management tenure is more important for actively managed ETFs than passive index ETFs.
The ETF has 2 primary benchmarks: Bloomberg US Agg Bond TR USD index with a weighting of 100% and ICE BofA US 3M Trsy Bill TR USD index with a weighting of 100%. FundX Flexible ETF has 14 securities in its portfolio. The top 10 holdings constitute 91.9% 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.
FundX Flexible ETF is part of the Fixed Income global asset class and is within the Taxable Bond ETF group. FundX Flexible ETF has 32.8% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 8.2% There is 5.2% allocated to foreign stock, and 0.7% is allocated to preferred stocks. The bond allocation as a percentage of total assets is 82.6% (55.1% domestic bond, 27.5% foreign bond and 0.0% convertible bond). FundX Flexible ETF has 3.1% of the portfolio in cash.
Assets Under Management
The fund has $50 million in total assets, which is below the $1 billion average for the Multisector Bond 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.
XFLX 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 FundX Flexible ETF expense ratio is high compared to funds in the Multisector Bond category. FundX Flexible ETF has an expense ratio of 0.97%, which is 49% 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. FundX Flexible ETF has a portfolio turnover rate of 133%, which indicates that it holds its assets around / 0.0 years. By way of comparison, the average portfolio turnover is 163% for the Multisector Bond category.
Recently, in the month of July 2026, FundX Flexible ETF returned -0.4%, which earned it a grade of B, as the Multisector Bond category had an average return of -0.5%. 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.
FundX Flexible ETF has a trailing yield of 9.69%, which is above the 5.63% category average.
The fund normally distributes its income annually 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.
FundX Flexible ETF Grades
Year to date, the ETF has returned 1.2%, 0.1 percentage points worse than the category, which translates into a grade of C. The fund has returned 3.4% over the past year (grade of F), 3.4% over the past three years (grade of F) and 0.2% per year over the past five years (grade of F) and 1.7% per year over the past 10 years (grade of F).
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XFLX 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 |
|
| XFLX Return (NAV) | -0.4% | 0.4% | 3.4% | 3.4% | 0.2% | 1.7% |
| XFLX Return (Price) | -0.4% | 0.4% | 3.4% | 3.4% | 0.2% | 1.7% |
| NAV +/- Price Return | 0.033% | -0.001% | 0.011% | -0.000% | -0.000% | -0.000% |
| Multisector Bond Avg | -0.5% | 0.3% | 4.5% | 6.2% | 1.8% | 3.1% |
| XFLX Grade (NAV) | B | C | F | F | F | F |
| +/- Category (NAV) | 0.2% | 0.1% | -1.1% | -2.8% | -1.6% | -1.3% |
| XFLX Tax-Cost Ratio | na | na | 3.6% | 2.3% | 2.0% | 1.6% |
XFLX Annual NAV Total ReturnsData as of 7/31/26
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
| XFLX Return (NAV) | 1.2% | 2.4% | 4.2% | 3.7% | -10.9% | 5.1% | 1.4% | 7.9% | -2.8% | 6.0% | 5.2% |
| XFLX Return (Price) | 1.1% | 2.6% | 4.0% | 3.9% | -10.9% | 5.1% | 1.4% | 7.9% | -2.8% | 6.0% | 5.2% |
| NAV +/- Price Ret | -0.095% | 0.062% | -0.046% | 0.041% | 0.000% | 0.000% | 0.000% | 0.0% | 0.0% | 0.0% | 0.0% |
| Multisector Bond Avg | 1.3% | 7.6% | 5.5% | 8.2% | -10.8% | 3.0% | 4.7% | 10.6% | -1.8% | 5.9% | 7.4% |
| XFLX Grade (NAV) | C | F | D | F | D | B | F | D | D | C | F |
| +/- Category | -0.1% | -5.2% | -1.3% | -4.5% | -0.0% | 2.1% | -3.3% | -2.7% | -1.0% | 0.1% | -2.1% |
| Risk Measures | |
| Beta: | 0.60 |
| R-Squared: | 71% |
| Standard Deviation: | 4.1% |
| Category Risk Index: | 0.85 |
| Category Risk Rating: | Below Average |
| Total Risk Index: | 0.33 |
| Total Risk Rating: | Low |
| Portfolio Characteristics | |
| Yield: | 9.7% |
| Total Assets: | $ 50 Mil |
| Share Class Assets: | $ 50 Mil |
| Turnover: | 133.0% |
| Expense Ratio: | 0.97% |
| Index Fund: | No |
| Index Tracked: | Bloomberg US Agg Bond TR USD |
| Index Weighting: | 100% |
| Leveraged: | No |
| Socially Responsible Fund: | No |
| Capital Gains Distribution Frequency: | Annually |
| Income Distribution Frequency: | Annually |
Management Team
| Number of Managers: 4 | |||
| Longest Tenure: 24.1 years | |||
| Average Tenure: 6.8 years | |||
| Managers (Year): McKeon Sean (2002), Smith Jeffrey (2025), Cowley Steven (2025), Messervy Lance (2025) | |||
Portfolio Composition (as of 7/31/26)
| # of Holdings: | 14 |
| % in Top 10 Holdings: | 91.9% |
| Fund is Non-Diversified: | No |
| % in Foreign Issues: | 32.8% |
Portfolio Allocation |
|
| Domestic Stock: | 8.2% |
| Foreign Stock: | 5.2% |
| Preferred Stock: | 0.7% |
| Domestic Bond: | 55.1% |
| Foreign Bond: | 27.5% |
| Convertible Bond: | 0.0% |
| Other: | 0.2% |
| Cash: | 3.1% |
Purchase Information
| Legal Structure: | Open Ended Investment Company |
| Fund Family: | Fund X |
| Phone Number: | 866-455-3863 |
| Website: | www.upgraderfunds.com |
| Inception Date: | July 1, 2002 |
Expenses and Fees
| Expense Ratio (%): | 0.97% (Rating: High) |
| Category Average Expense Ratio (%): | 0.65% |
