At a glance
SNAV charges 1.59% a year, above the 0.86% average of the 7 funds most like it (the most expensive of 8). It has $28.9M in assets, the 8th largest of that group. Over the past year it returned +10.6% with distributions reinvested (S&P 500: +11.5%), 6th of those 8 funds; over three years it returned +18.3% a year.
The short version
Mohr Sector Nav ETF (SNAV), from Retireful LLC, is an actively managed fund that holds other ETFs. It rotates among the 11 S&P 500 sectors on quantitative signals, parking a sector's share in a broad S&P 500 fund or a money market fund as its signal weakens. The appeal is a way to step aside from weak sectors; the drawbacks are heavy trading (342% turnover) and a steep 1.59% expense ratio.
Price history
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SNAV +10.6% 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 | |
|---|---|---|---|---|---|---|
| SNAV official prospectus, to Dec 31, 2025 | — | +15.44% | — | — | — | +13.48% |
| SNAV price data to Oct 27, 2026 | +11.6% | +10.6% | +18.3% | — | — | +16.6% |
- Over the year to Oct 27, 2026, SNAV returned +10.6%, 6th of 8 among similar funds.
- Its worst full calendar year was 2024 (+11.1%); its best was 2025 (+15.5%).
- The deepest fall in its price history was 16.6% (Nov 29, 2024 to Apr 8, 2025), recovered by Jun 26, 2025.
Show as a table
| Year | Price data | Prospectus (official) |
|---|---|---|
| 2026 (to date) | +11.6% | — |
| 2025 | +15.5% | +15.44% |
| 2024 | +11.1% | +11.13% |
| 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 |
|---|---|---|
| 2024 | $0.2800 |
What's inside
As of Jun 30, 2026, the fund held 8 securities; the ten largest made up 97.13% of assets.
| Fund held | Weight | |
|---|---|---|
| INVESCO S P 500 EQUAL WEIGHT Other | 33.93% | |
| STATE STREET SPDR S P 500 ETF TRUST Other | 20.63% | |
| VANGUARD INFORMATION TECHNOLOGY ETF Other | 10.07% | |
| STATE STREET HEALTH CARE SELECT SECTOR SPDR ETF Other | 9.35% | |
| STATE STREET CONSUMER DISCRETIONARY SELECT S SPDR Other | 8.86% | |
| STATE STREET MATERIALS SELECT SECTOR SPDR ETF Other | 7.16% | |
| STATE STREET UTILITIES SELECT SECTOR SPDR ETF Other | 7.13% | |
| SCHWAB US LARGE CAP ETF Other | 0.00% |
By country
United States 97.13%By asset type
Other 97.13%What changed recently
- Over the three months to Jun 30, 2026, investors added a net $963K (creations minus redemptions, per the N-PORT report).
- Monthly total returns reported for that quarter: +4.89%, +6.32%, -0.72%.
How it works
SNAV tracks no index. Retireful LLC manages it actively for capital appreciation, and the prospectus says it is designed for investors who can tolerate full market risk. The portfolio has 11 sleeves (slices), one per S&P 500 sector, each set by quantitative signals that include price movement. A positive signal puts that sleeve in a sector ETF, a neutral signal in a broad-market ETF such as an S&P 500 fund, and a negative signal in a money market fund. In theory, all 11 could sit in money market funds.
Each sleeve starts at about 9% and is reset there at rebalancing. The adviser considers rebalancing when a sleeve reaches 12% of assets and will do so before any reaches 20%. It expects to use Vanguard and State Street (SSGA) sector ETFs, weighing liquidity and fees. Turnover, the share of the portfolio replaced in a year, was 342%. Trading costs come on top of the 1.59% expense ratio, which includes a 0.70% management fee.
As of June 30, 2026, it held eight ETFs. Invesco S&P 500 Equal Weight ETF (33.9%) and SPDR S&P 500 ETF Trust (20.6%) led, both broad-market funds suited to neutral sleeves. The sector funds were Vanguard Information Technology ETF (10.1%) and SPDR funds for health care (9.4%), consumer discretionary (8.9%), materials (7.2%) and utilities (7.1%).
What it really costs
- SNAV charges 1.59% a year, versus an average of 0.86% for the similar funds below (8th of 8, cheapest first).
- Of that, 0.7% is the management fee; the rest covers other fund expenses.
- Using the prospectus's standard example, $10,000 invested would cost about $162 in the first year and $1,889 over 10 years (assuming a 5% annual return).
| Cost of $10,000 (SEC example) | 1 yr | 3 yrs | 5 yrs | 10 yrs |
|---|---|---|---|---|
| SNAV | $162 | $502 | $866 | $1,889 |
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 an all-stock, signal-driven sector strategy with a 1.59% expense ratio and a track record that starts in 2023, which fits a smaller side position better than a core one.
SNAV could add a tactical stock holding that can move sector slices into money market funds when signals turn negative. That defense is untested: the fund launched in January 2023, after the 2008, 2020 and 2022 downturns. Its worst calendar year was 2024, a gain of 11.13%. Its deepest drop was 16.6%, from November 29, 2024 to April 8, 2025, and it regained that peak by June 26, 2025, about 2.6 months after the low. Cashing out near that low would have locked in losses.
It paid no distributions in the year to October 27, 2026, so it offers no income. Fees are high: the SEC's standard example, assuming 5% yearly returns on $10,000, puts costs at $162 after one year and $1,889 over 10 years. Past results don't predict the future, and a plan needs to look at the whole portfolio, not one fund.
Who it may suit — and who should look elsewhere
May suit
- Investors who want a signal-driven sector rotation strategy that can shift slices of the portfolio into money market funds when sector signals turn negative.
- Growth-focused investors who can accept full market risk and need no income; it made no distributions in the year to October 27, 2026.
- Those wanting a satellite holding that has moved less than the market, with a 0.79 beta (market sensitivity) in the year to October 27, 2026.
Look elsewhere if
- Cost-conscious investors: the 1.59% expense ratio means $162 on $10,000 in year one under the SEC's standard example, plus trading costs from 342% turnover.
- Investors content to hold S&P 500 funds themselves; two, from Invesco and SPDR, made up 33.9% and 20.6% of assets on June 30, 2026.
- Those wanting a tested record or a large fund: SNAV launched in January 2023 and had $28.9 million in net assets on June 30, 2026.
Close alternatives
Matched by other buffer (defined-outcome) funds, largest first.
| Fund | Cost | Net assets | 1 yr | 3 yr |
|---|---|---|---|---|
| SNAV this fund | 1.59% | $28.9M | +10.6% | +18.3% |
| 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 SNAV ETF hold?
SNAV holds other ETFs rather than individual stocks. As of June 30, 2026, it owned eight funds, led by Invesco S&P 500 Equal Weight ETF (33.9%), which gives each S&P 500 company the same weight, and SPDR S&P 500 ETF Trust (20.6%). The sector funds were Vanguard Information Technology ETF (10.1%) and SPDR funds for health care (9.4%), consumer discretionary (8.9%), materials (7.2%) and utilities (7.1%). With 342% turnover, the lineup can change quickly.
Does SNAV pay dividends?
No. SNAV made no distributions in the year to October 27, 2026, so its yield for that period was 0%. Its stated objective is capital appreciation, not income. Anyone relying on it for spending money would need to cash in shares, which can mean taking a loss in a weak market. Funds with high turnover, like SNAV at 342%, can also pay capital gains distributions in some years, which are taxable outside retirement accounts.
Can SNAV move to cash in a market crash?
Yes, in part. When the adviser's signals for a sector turn negative, that sector's sleeve, about 9% of the fund at rebalancing, moves into a money market fund. The prospectus says every sleeve could end up there at once. Neutral signals go to a broad-market stock ETF instead. The defense is untested in a severe crash, since the fund launched in January 2023. Its deepest drop through October 27, 2026 was 16.6%, from November 29, 2024 to April 8, 2025.
How has SNAV performed since it launched?
SNAV gained 11.13% in 2024 and 15.44% in 2025, its first two full calendar years, and returned an average of 13.48% a year from its January 2023 launch through December 31, 2025, according to the prospectus. Based on share prices, it rose 10.6% in the year to October 27, 2026 and averaged 18.3% a year over three years. A record this short says little about how it would fare in a long bear market.
How does SNAV compare with buffer ETFs like BUFR?
They work differently. Buffer ETFs such as FT Vest Laddered Buffer ETF (BUFR) rely on options to cushion part of a market loss in exchange for capped gains. SNAV held no derivatives as of June 30, 2026; it rotates among sector ETFs, broad-market ETFs and money market funds, with no set loss limit. SNAV's expense ratio is higher: 1.59% versus 0.95% for BUFR. Over the three years to October 27, 2026, SNAV averaged 18.3% a year to BUFR's 16.8%, but over one year it trailed, 10.6% to 11.6%.