At a glance
MVFD charges 1.1% a year. It has $130.0M in assets; it paid 1.31% of its price in distributions over the past 12 months, quarterly. Over the past year it returned +18.8% with distributions reinvested (S&P 500: +11.5%). Its ten largest positions make up 31.4% of the fund, out of 40 in all.
The short version
Monarch Volume Factor Dividend Tree ETF (MVFD) tracks the Monarch Volume Factor Dividend Tree Index. The index holds 40 US dividend-paying stocks, usually in equal amounts, picked partly on trading-volume and price signals. When those signals turn negative, the index can move up to 50% into short-term Treasury ETFs. The fund's 1.10% expense ratio and 321% portfolio turnover are high for a stock index fund.
Price history
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MVFD +18.8% over the year to Oct 27, 2026, total return with distributions reinvested.
How it has behaved
| YTD | 1 yr | 3 yr | 5 yr | 10 yr | Since start | |
|---|---|---|---|---|---|---|
| MVFD official prospectus, to Dec 31, 2025 | — | +10.12% | — | — | — | +8.37% |
| Monarch Volume Factor Global Unconstrained Index index, same period | — | +10.28% | — | — | — | +8.55% |
| S&P Composite 1500 Index index, same period | — | +17.02% | — | — | — | +18.16% |
| MVFD price data to Oct 27, 2026 | +17.2% | +18.8% | — | — | — | +12.3% |
- Over the year to Oct 27, 2026, MVFD returned +18.8%.
- Its worst full calendar year was 2025 (+10.1%); its best was 2025 (+10.1%).
- The deepest fall in its price history was 19.1% (Nov 25, 2024 to Apr 8, 2025), recovered by Oct 24, 2025.
Show as a table
| Year | Price data | Prospectus (official) |
|---|---|---|
| 2026 (to date) | +17.2% | — |
| 2025 | +10.1% | +10.12% |
| 2008 financial crisis stocks fell Oct 9, 2007 – Mar 9, 2009 | Before this security existed |
|---|---|
| 2020 COVID crash stocks fell Feb 19, 2020 – Mar 23, 2020 | Before this security existed |
| 2022 bear market stocks fell Jan 3, 2022 – Oct 12, 2022 | Before this security existed |
Dividends and income
Show as a table
| Year | Per share | Change |
|---|---|---|
| 2026 (to date) | $0.3200 | |
| 2025 | $0.3800 |
What's inside
As of Aug 31, 2026, the fund held 40 securities; the ten largest made up 31.39% of assets.
| Holding | Weight | |
|---|---|---|
| OCCIDENTAL PETROLEUM CORP | 3.83% | |
| MARATHON PETROLEUM CORP | 3.21% | |
| PATTERSON-UTI ENERGY INC | 3.21% | |
| SLB LTD | 3.12% | |
| APA CORP | 3.11% | |
| HEWLETT PACKARD ENTERPRISE COMPANY | 3.04% | |
| SM ENERGY COMPANY | 3.03% | |
| KINETIK HOLDINGS INC | 3.03% | |
| PERMIAN RESOURCES CORP | 3.00% | |
| J.M. SMUCKER COMPANY (THE) | 2.80% | |
| OVINTIV INC | 2.74% | |
| MAGNOLIA OIL & GAS CORP | 2.74% | |
| CF INDUSTRIES HOLDINGS INC | 2.73% | |
| NEWMARKET CORP | 2.68% | |
| CHURCH & DWIGHT CO INC | 2.64% |
By country
United States 94.06%Curaçao 3.12%United Kingdom 2.49%By asset type
Stocks 99.66%What changed recently
- Over the three months to Aug 31, 2026, investors added a net $15.3M (creations minus redemptions, per the N-PORT report).
- Monthly total returns reported for that quarter: +0.34%, +2.50%, +2.77%.
How it works
The fund's adviser, Kingsview Wealth Management, designed the index and owns its rules. Solactive, which is independent of the fund, calculates and publishes it. The rules start with the Russell 3000, a list of about 3,000 US stocks, and keep companies that show positive cash flow and room to grow their dividends. Each remaining stock then gets a 'Volume Factor' score. The score blends capital-weighted trading volume, price, and a proprietary Volume Price Confirmation Indicator, which checks whether trading volume backs up price moves. The 40 highest-scoring stocks go into the index, usually in equal amounts. The list is rebuilt every quarter.
When the index's capital-flow signals turn negative, it cuts its stocks and moves up to 50% into as many as 5 ETFs that hold short-term US Treasury securities. As of August 31, 2026, the fund was 99.66% in stocks and held no derivatives. A sub-adviser, Penserra Capital Management, owns substantially all of the index's holdings in about the same proportions.
Sector weights can swing a lot. On February 28, 2026, the index had more than 25% in consumer discretionary and financials stocks. By August 31, 2026, most of the 10 largest holdings were oil and gas companies, led by Occidental Petroleum, Marathon Petroleum and Patterson-UTI Energy. Portfolio turnover of 321% means the fund trades heavily. Those trading costs are not part of the expense ratio.
What it really costs
- MVFD charges 1.1% a year.
- Of that, 0.85% is the management fee; the rest covers other fund expenses.
- Using the prospectus's standard example, $10,000 invested would cost about $112 in the first year and $1,340 over 10 years (assuming a 5% annual return).
| Cost of $10,000 (SEC example) | 1 yr | 3 yrs | 5 yrs | 10 yrs |
|---|---|---|---|---|
| MVFD | $112 | $350 | $606 | $1,340 |
In a retirement portfolio
A high 1.10% expense ratio, quarterly 40-stock rebuilds that can concentrate the fund in one sector, and a record dating only from March 2024 make it better suited to a small side position than a core holding.
MVFD launched in March 2024, so it has no record in the 2008, 2020 or 2022 market declines. Its deepest drop was 19.1%, from November 25, 2024 to April 8, 2025. It got back to its old high on October 24, 2025, about 6.5 months later. Anyone who had to cash out or draw income during that stretch would have locked in losses. In 2025, its only full calendar year, the fund returned 10.12%, while the S&P Composite 1500 returned 17.02%. The switch into Treasury ETFs is meant to soften declines, but it has not been tested in a long bear market. Income is modest: the trailing 12-month yield was 1.31% as of October 27, 2026, paid quarterly. In the SEC's standard $10,000 example, costs come to $112 after one year and $1,340 after 10 years. Past results don't predict future returns, and a retirement plan should look at the whole portfolio, not one fund.
Who it may suit — and who should look elsewhere
May suit
- Investors who want a rules-based stock fund that can move up to 50% into short-term Treasury ETFs when its volume signals turn negative.
- Holders comfortable with big sector swings, such as the oil and gas companies that led its holdings as of August 31, 2026.
- Investors keeping a small side position who accept a 1.10% fee for an equal-weighted, 40-stock dividend approach rebuilt every quarter.
Look elsewhere if
- Cost-focused investors: in the SEC's standard $10,000 example, the 1.10% expense ratio adds up to $1,340 over 10 years.
- Income seekers who need meaningful cash flow: the trailing yield was 1.31% as of October 27, 2026, paid quarterly.
- Those who want a long track record: the fund launched in March 2024 and trailed the S&P Composite 1500 in 2025 (10.12% vs 17.02%).
Close alternatives
Matched by holdings overlap from the latest N-PORT reports.
No close alternatives found.
Questions investors ask
Is MVFD good for retirement income?
MVFD offers modest income. It pays dividends quarterly, and its trailing 12-month yield was 1.31% ($0.43 per share) as of October 27, 2026. The word "dividend" in its name refers to a screen for companies able to pay and grow dividends. It does not mean the fund aims for a high yield. Its 1.10% yearly expense ratio is nearly as large as that yield. It may suit retirees who want a rules-based stock fund that can shift up to half its assets into short-term U.S. Treasury ETFs. It may suit those needing steady income less well.
What stocks are in MVFD?
As of August 31, 2026, MVFD held 40 stocks in roughly equal weights, and the 10 largest made up 31.39% of assets. Oil and gas companies dominated the top of the list: Occidental Petroleum (3.83%), Marathon Petroleum (3.21%), Patterson-UTI Energy (3.21%), SLB (3.12%) and APA (3.11%). Hewlett Packard Enterprise and J.M. Smucker also ranked in the top 10. Stocks made up 99.66% of the portfolio, so it held no Treasury ETFs at that point. The index is rebuilt every quarter, so this mix can change sharply.
Does MVFD move into bonds when the market falls?
It can, by rule. Its index, the Monarch Volume Factor Dividend Tree Index, screens Russell 3000 stocks for positive cash flow and dividend potential. It then scores them on trading volume and price. When capital flow trends are positive, it holds the 40 top-scoring stocks. When trends turn negative, up to 50% can shift into as many as five short-term U.S. Treasury ETFs. That shift offers no guarantee: the fund fell 19.1% from November 25, 2024 to April 8, 2025, and recovered by October 24, 2025.
What is MVFD's expense ratio?
MVFD charges 1.10% a year, according to the prospectus filed June 24, 2026. That includes a 0.85% management fee paid to the adviser, Kingsview Wealth Management. In the SEC's standard example, $10,000 earning 5% a year would cost $112 after one year, $606 after five years and $1,340 after ten years. That is high for an index-tracking ETF. The prospectus lists portfolio turnover of 321%, a sign of heavy trading. Trading costs are paid on top of the expense ratio.
How does MVFD compare with the S&P 1500?
MVFD has trailed that index. In 2025, the fund returned 10.12%, versus 17.02% for the S&P Composite 1500 Index, a broad measure of U.S. stocks. From its March 6, 2024 launch through December 31, 2025, it averaged 8.37% a year, against 18.16% for the index. It has been less tied to market moves. Its one-year beta, which measures how much a fund tends to move with the market, was 0.5 as of October 27, 2026. Over the year to that date, its price-based return was 18.8%.