At a glance
XNAV charges 1.27% a year, above the 0.86% average of the 7 funds most like it (the most expensive of 8). It has $32.1M in assets, the 8th largest of that group; it paid 0.52% of its price in distributions over the past 12 months, annual. Over the past year it returned +10.9% with distributions reinvested (S&P 500: +11.5%), 6th of those 8 funds; over three years it returned +22.7% a year. Its ten largest positions make up 61.2% of the fund, out of 20 in all.
The short version
FundX Aggressive ETF (XNAV) is an actively managed fund of funds. Instead of owning stocks directly, it held 20 other ETFs as of June 30, 2026, led by Vanguard Growth ETF. Its adviser shifts money into funds it judges to be leading the market, including semiconductor and clean energy funds. That approach costs 1.27% a year, which is high for an ETF, and it has brought bigger swings than the broad stock market.
Price history
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XNAV +10.9% 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 | |
|---|---|---|---|---|---|---|
| XNAV official prospectus, to Dec 31, 2025 | — | +13.59% | — | +7.86% | +9.82% | — |
| XNAV price data to Oct 27, 2026 | +10.8% | +10.9% | +22.7% | — | — | +18.2% |
- Over the year to Oct 27, 2026, XNAV returned +10.9%, 6th of 8 among similar funds.
- Its worst full calendar year was 2025 (+13.6%); its best was 2024 (+25.4%).
- The deepest fall in its price history was 24.3% (Feb 18, 2025 to Apr 8, 2025), recovered by Sep 10, 2025.
Show as a table
| Year | Price data | Prospectus (official) |
|---|---|---|
| 2026 (to date) | +10.8% | — |
| 2025 | +13.6% | +13.59% |
| 2024 | +25.4% | +25.49% |
| 2023 | +16.1% | +16.09% |
| 2022 | — | -14.74% |
| 2021 | — | +3.49% |
| 2020 | — | +28.55% |
| 2019 | — | +24.97% |
| 2018 | — | -6.82% |
| 2017 | — | +14.91% |
| 2016 | — | +1.56% |
| 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 |
|---|---|---|
| 2025 | $0.4700 | +658.1% |
| 2024 | $0.0620 | -91.1% |
| 2023 | $0.6940 |
What's inside
As of Jun 30, 2026, the fund held 20 securities; the ten largest made up 61.24% of assets. It also reported 18.39% in a money-market fund, most likely cash collateral from lending out shares rather than uninvested money.
| Fund held | Weight | |
|---|---|---|
| Vanguard Growth ETF | 9.37% | |
| Schwab U.S. Large-Cap Growth ETF | 7.72% | |
| iShares MSCI USA Value Factor ETF | 7.35% | |
| State Street SPDR S&P Semiconductor ETF | 5.90% | |
| VanEck Semiconductor ETF | 5.90% | |
| iShares MSCI USA Momentum Factor ETF | 5.85% | |
| Wisdomtree US Quality Growth Fund | 5.74% | |
| iShares Semiconductor ETF | 4.52% | |
| Global X Lithium & Battery Tech ETF | 4.51% | |
| Invesco S&P 500 Momentum ETF | 4.39% | |
| Avantis International Small Cap Value ETF | 4.36% | |
| State Street SPDR S&P Kensho New Economies Composite ETF | 3.82% | |
| iShares Global Clean Energy ETF | 3.80% | |
| iShares MSCI South Korea ETF | 3.73% | |
| First Trust NASDAQ Clean Edge Green Energy Index Fund | 3.67% |
By country
United States 97.56%By asset type
Stocks 97.56%What changed recently
- Over the three months to Jun 30, 2026, investors withdrew a net $1.1M (creations minus redemptions, per the N-PORT report).
- Monthly total returns reported for that quarter: +13.11%, +7.09%, -1.57%.
How it works
XNAV does not track an index. Its adviser invests in other ETFs, called underlying ETFs, and those funds own the stocks. The prospectus calls the strategy “Upgrading.” The adviser holds funds it sees as in step with the market's leaders. It replaces them when they fall out of step or when a more attractive fund turns up. The adviser sorts funds into five risk groups. This fund normally owns the riskiest groups, Sector Equity and Aggressive Equity funds, plus broader Core Equity funds.
Holdings change whenever the adviser's view changes. Turnover was 134%, which means the fund traded more than the value of its whole portfolio in a year. As of June 30, 2026, its 20 funds were led by Vanguard Growth ETF (9.37%), Schwab U.S. Large-Cap Growth ETF (7.72%) and iShares MSCI USA Value Factor ETF (7.35%). Semiconductor, lithium, clean energy and South Korea funds followed.
XNAV does not hold derivatives itself. Derivatives are contracts such as options, futures and swaps. Some of its underlying ETFs may use them. Some may also borrow to magnify gains and losses (leverage) or bet on falling prices (short sales). There is no cap on emerging markets funds. XNAV may also lend out securities to earn extra income. The 18.39% cash shown on June 30, 2026, likely reflects collateral from that lending rather than a cash cushion.
What it really costs
- XNAV charges 1.27% a year, versus an average of 0.86% for the similar funds below (8th of 8, cheapest first).
- Of that, 1% is the management fee; the rest covers other fund expenses.
- Using the prospectus's standard example, $10,000 invested would cost about $129 in the first year and $1,534 over 10 years (assuming a 5% annual return).
| Cost of $10,000 (SEC example) | 1 yr | 3 yrs | 5 yrs | 10 yrs |
|---|---|---|---|---|
| XNAV | $129 | $403 | $697 | $1,534 |
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 concentrates on growth, semiconductor and clean energy ETFs, charges 1.27% a year and has swung more than the broad market, so it fits better as a smaller add-on than a core position.
XNAV could add actively managed growth next to core holdings, but it has fallen hard at times. The returns in its prospectus start in 2016, so they don't cover 2008. In the 2020 COVID crash, it lost 18.53% in the quarter ended March 31, then gained 26.08% the next quarter. It lost 14.74% in 2022, its worst calendar year in that record. Since the ETF launched in October 2022, its deepest drop was 24.3%, from February 18 to April 8, 2025. It took about five months to recover. Selling shares or drawing income near lows like these locks in losses.
Income is small. The yield over the past year was 0.52% as of October 27, 2026, and the fund pays once a year. It costs 1.27% a year, or about $1,534 over 10 years on $10,000 in the SEC's standard example, which assumes a 5% annual return. Past results don't predict future returns, 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 an adviser to rotate among growth, momentum, semiconductor and clean energy ETFs, rather than picking and switching those funds themselves.
- Long-term investors who can sit through swings like the 24.3% drop from February to April 2025, which took about five months to recover.
- Those adding a smaller growth position next to core holdings who don't need income: the yield was 0.52% as of October 27, 2026.
Look elsewhere if
- Cost-conscious investors: the 1.27% expense ratio adds up to about $1,534 over 10 years on $10,000 in the SEC's standard example.
- Those who prefer a simple index fund: with 134% turnover, results depend on the adviser's judgment, not a published index.
- Anyone who may need to cash out in a downturn: the fund lost 18.53% in the first quarter of 2020 and 14.74% in 2022.
Close alternatives
Matched by other buffer (defined-outcome) funds, largest first.
| Fund | Cost | Net assets | 1 yr | 3 yr |
|---|---|---|---|---|
| XNAV this fund | 1.27% | $32.1M | +10.9% | +22.7% |
| 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 XNAV invest in?
XNAV, from CI Financial, invests in other ETFs rather than individual stocks. As of June 30, 2026, it held 20 funds, and the top 10 made up 61.24% of assets. The largest were Vanguard Growth ETF (9.37%), Schwab U.S. Large-Cap Growth ETF (7.72%) and iShares MSCI USA Value Factor ETF (7.35%). Two semiconductor funds, XSD and SMH, held about 5.90% each. Momentum, lithium, clean energy and South Korea funds made up more of the list. Net assets were a modest $32.1 million.
What is XNAV's expense ratio?
XNAV's expense ratio is 1.27%, according to its prospectus filed January 28, 2026. The expense ratio is the yearly fee taken from fund assets, and this one includes a 1.00% management fee. The SEC's standard example assumes $10,000 invested and a 5% annual return. On that basis, total costs would be about $129 after one year, $697 after five years and $1,534 after 10 years. That is high for an ETF. Investors are paying for an adviser who actively rotates among funds.
How has XNAV performed over the long term?
XNAV averaged 9.82% a year over the 10 years through December 31, 2025, according to its prospectus. It averaged 7.86% a year over five years and returned 13.59% over one year. Those periods reach back before the ETF's October 17, 2022 launch. Results have swung widely. It gained 28.55% in 2020 and 25.49% in 2024 but lost 14.74% in 2022. Based on market price, it returned 10.9% over the year to October 27, 2026.
Does XNAV pay dividends?
Yes, but very little, and only once a year. Its yield over the past year was 0.52% as of October 27, 2026, or about $0.47 per share. That matches its stated goal: to maximize capital appreciation over the long term without regard to income. It is built for growth, not steady cash payments. Retirees who rely on portfolio income would need other holdings to provide it.
Why own XNAV instead of the ETFs it holds?
The main reason is to hand off the decisions. XNAV's adviser decides which ETFs to hold and when to switch, using its Upgrading approach to follow the market's leaders. Owning funds such as Vanguard Growth ETF or iShares Semiconductor ETF directly would avoid XNAV's 1.00% management fee. But the investor would then make every switching decision. Because XNAV trades heavily (134% turnover), its June 30, 2026 holdings are only a snapshot. Its results depend on the adviser's calls.