At a glance
MVFG charges 1.41% a year, above the 0.86% average of the 7 funds most like it (the most expensive of 8). It has $184.7M in assets, the 8th largest of that group; it paid 1.72% of its price in distributions over the past 12 months, quarterly. Over the past year it returned +10.8% with distributions reinvested (S&P 500: +11.5%), 6th of those 8 funds. Its ten largest positions make up 44.6% of the fund, out of 24 in all.
The short version
Monarch Volume Factor Global Unconstrained Index ETF (MVFG) is a fund of funds: it owns up to 25 roughly equal-weighted stock ETFs picked by a rules-based index that follows where investor money is flowing. When market trends turn negative, it can move part or all of its assets into Treasury ETFs (funds of U.S. government bonds). Its 1.41% expense ratio is high, and its 419% turnover means holdings change often.
Price history
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MVFG +10.8% 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 | |
|---|---|---|---|---|---|---|
| MVFG official prospectus, to Dec 31, 2025 | — | +20.92% | — | — | — | +14.78% |
| Monarch Volume Factor Global Unconstrained Index index, same period | — | +21.14% | — | — | — | +15.06% |
| S&P Global 1200 Index index, same period | — | +23.03% | — | — | — | +19.25% |
| MVFG price data to Oct 27, 2026 | +11.9% | +10.8% | — | — | — | +14.4% |
- Over the year to Oct 27, 2026, MVFG returned +10.8%, 6th of 8 among similar funds.
- Its worst full calendar year was 2025 (+21.0%); its best was 2025 (+21.0%).
- The deepest fall in its price history was 15.3% (Oct 15, 2025 to Nov 20, 2025), recovered by Jan 5, 2026.
Show as a table
| Year | Price data | Prospectus (official) |
|---|---|---|
| 2026 (to date) | +11.9% | — |
| 2025 | +21.0% | +20.92% |
| 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) | $0.3500 | |
| 2025 | $0.5900 |
What's inside
As of Aug 31, 2026, the fund held 24 securities; the ten largest made up 44.56% of assets.
| Fund held | Weight | |
|---|---|---|
| XTR MS EMS ETF-U | 5.64% | |
| ALPS SECTOR DIVIDEND DOGS | 4.67% | |
| BNYM-M/C COR ETF | 4.57% | |
| XTRACK RUSS US M | 4.52% | |
| VICTORYSHARES DI | 4.44% | |
| ALPS INTERNATIONAL SECTOR | 4.20% | |
| JPM DIV RET INT | 4.15% | |
| SPDR S&P GLOBAL DIVIDEND | 4.14% | |
| ISHARES RUSSELL TOP 200 V | 4.12% | |
| INVESCO S&P 500 | 4.10% | |
| STATE STREET SPD | 4.07% | |
| BNYM-US L/C COR | 4.04% | |
| INVESCO RAYMOND | 4.02% | |
| NVN-SMALL-CAP | 4.02% | |
| HRTF-M/F US EQ | 3.99% |
By country
United States 99.86%By asset type
Stocks 99.86%What changed recently
- Over the three months to Aug 31, 2026, investors added a net $25.9M (creations minus redemptions, per the N-PORT report).
- Monthly total returns reported for that quarter: +0.24%, +0.52%, +1.00%.
How it works
MVFG aims to track the Monarch Volume Factor Global Unconstrained Index, before fees. Its adviser, Kingsview Wealth Management LLC, designed the index. Solactive, an independent firm, calculates and publishes it. The sub-adviser, Penserra Capital Management, uses replication, which means it holds nearly all of the index's ETFs in about the same proportions. At least 80% of the fund's assets must sit in index constituents.
The index starts with U.S.-listed stock ETFs that have global exposure, including emerging markets. To qualify, an ETF must use no leverage, must not be an inverse fund, must hold at least $50 million in assets and must have more than two years of trading history. A proprietary "volume factor" ranking then picks up to 25 ETFs from the parts of the market drawing the strongest cash flows, meaning money moving in. These ETFs are usually weighted equally, so the fund can lean heavily toward some sectors. As of February 28, 2026, no single sector made up more than 25% of the index.
When cash-flow trends turn negative, the index shifts part or all of its weight into Treasury ETFs. The index judges this by trends in large-company stocks and by how many stocks are taking part in a decline. As of August 31, 2026, the fund held 24 stock ETFs and no bond funds. Large positions included ALPS Sector Dividend Dogs (4.7%) and SPDR S&P Global Dividend (4.1%). Turnover of 419% shows how often it switches holdings.
What it really costs
- MVFG charges 1.41% a year, versus an average of 0.86% for the similar funds below (8th of 8, cheapest first).
- 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 $144 in the first year and $1,691 over 10 years (assuming a 5% annual return).
| Cost of $10,000 (SEC example) | 1 yr | 3 yrs | 5 yrs | 10 yrs |
|---|---|---|---|---|
| MVFG | $144 | $446 | $771 | $1,691 |
Structure and tax notes
- Invests in other funds rather than directly in stocks or bonds, so its holdings are those funds.
In a retirement portfolio
It is a frequently traded, rules-based mix of stock ETFs with a 1.41% expense ratio and less than three years of history, so it fits better as a small side position than as a foundation.
MVFG could add a trend-following tilt to a portfolio. In theory, its switch to Treasury ETFs may soften big declines, but a severe bear market has not tested that rule yet. The fund launched March 6, 2024, after the 2008, 2020 and 2022 downturns. Its only full calendar year, 2025, returned about 21%. Its deepest drop was 15.3%, from October 15 to November 20, 2025, and it recovered by January 5, 2026, about six weeks later. Someone withdrawing cash during a drop like that would have to give up more shares to get the same income. The trailing yield was 1.72% as of October 27, 2026, paid quarterly. Under the SEC's $10,000 example, costs reach $1,691 over 10 years. Past results don't predict the future, and a 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 global stock mix that can rotate into Treasury ETFs when trends weaken, and who accept that this rule is untested in a major bear market.
- People who want one fund holding about two dozen equally weighted ETFs, such as ALPS Sector Dividend Dogs and SPDR S&P Global Dividend (as of August 31, 2026).
- Investors keeping it as a small satellite position, ideally in a tax-advantaged account, where frequent trading (419% turnover) may matter less.
Look elsewhere if
- Cost-conscious investors: the 1.41% expense ratio works out to about $144 in the first year on $10,000 under the SEC example, the highest in its comparison group.
- Investors who want a long track record: it launched in March 2024 and has no history through the 2008, 2020 or 2022 downturns.
- Those who want results close to global stocks: from launch through December 31, 2025, it averaged 14.78% a year, versus 19.25% for the S&P Global 1200.
Close alternatives
Matched by other buffer (defined-outcome) funds, largest first.
| Fund | Cost | Net assets | 1 yr | 3 yr |
|---|---|---|---|---|
| MVFG this fund | 1.41% | $184.7M | +10.8% | — |
| BUFR FT Vest Laddered Buffer ETF | 0.95% | $10.49B | +11.6% | +16.8% |
| BUFD FT Vest Laddered Deep Buffer ETF | 0.95% | $2.04B | +9.5% | +13.9% |
| PJAN Innovator U.S. Equity Power Buffer ETF - Ja… | 0.79% | $1.44B | +10.5% | +14.8% |
| PDEC Innovator U.S. Equity Power Buffer ETF - De… | 0.79% | $984.1M | +11.6% | +14.9% |
| FDEC FT Vest US Equity Buffer ETF - December | 0.85% | $1.31B | +12.9% | +18.5% |
| FJAN FT Vest US Equity Buffer ETF - January | 0.85% | $1.47B | +12.3% | +17.4% |
| FFEB FT Vest U.S. Equity Buffer Fund - February | 0.85% | $1.42B | +12.9% | +18.6% |
Questions investors ask
What does MVFG invest in?
MVFG invests in other ETFs rather than in individual stocks. As of August 31, 2026, it held 24 stock ETFs, and the 10 largest made up about 45% of assets. Top positions included an Xtrackers ETF (5.6%), ALPS Sector Dividend Dogs (4.7%), SPDR S&P Global Dividend (4.1%) and an iShares Russell Top 200 Value ETF (4.1%). When its index signals negative market trends, part or all of the portfolio can move into Treasury ETFs instead.
Why is MVFG's expense ratio so high?
MVFG's total expense ratio is 1.41%, according to its prospectus filed June 24, 2026, while its management fee is 0.85%. Because it is a fund of funds, the costs of the ETFs it owns are generally layered on top of its own fees. The SEC's standard example assumes $10,000 invested and a 5% yearly return. On that basis, costs would total about $144 after one year, $771 after five years and $1,691 after ten. It ranked 8th of 8 on cost among the funds it is compared with.
Does MVFG pay dividends?
Yes. MVFG pays distributions quarterly. Over the 12 months through October 27, 2026, it paid about $0.59 per share, a trailing yield of 1.72%. That income comes from the stock ETFs it holds, so it can rise or fall with their payouts. It can also change if the fund shifts into Treasury ETFs. The fund is not built mainly for income, and it uses no options strategy to boost payouts.
How has MVFG performed compared with the S&P Global 1200?
MVFG has trailed the S&P Global 1200 Index so far. According to its prospectus, the fund returned 20.92% in 2025, versus 23.03% for the S&P Global 1200. From its March 6, 2024 launch through December 31, 2025, it averaged 14.78% a year, versus 19.25% for that index. Its own Monarch index did slightly better than the fund, because the index is measured before fees. Over the year through October 27, 2026, the fund returned 10.8%.
What's the difference between MVFG and BUFR?
They work very differently. BUFR, the FT Vest Laddered Buffer ETF, is a buffer (defined-outcome) fund. These funds typically use options to absorb part of a market loss, and in exchange they cap gains. MVFG uses no options. It rotates among stock ETFs and can move into Treasury ETFs when trends weaken. BUFR charges 0.95%, versus 1.41% for MVFG. Over the year through October 27, 2026, BUFR returned 11.6% and MVFG returned 10.8%.