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MBCE

GradeFChicago Board Options Exchange

Monarch Blue Chips Elite Index ETF

Factor & Screened Index · Monarch · Inception 2021-03-23

$38.78−0.17 (−0.44%)

As of Sep 23, 2026, 2:14 PM EDT

Intraday session: down, 13 prints from 38.95 to 38.78. Range 38.63 to 38.95. Use the arrow keys to read each point.$38.60$38.70$38.9010 AM12 PM2 PM4 PM
Expense ratio
1.01%
Fund size
$202M
1Y return
+4.6%
Yield · Last 12 months
0.23%
Volume · 30D
0M sh
NAV per share
$38.60
52W range
low $33.38high $41.84

The ETF.net MBCE Grade

F

19/ 100

Rank 96 of 99 in US Multifactor⁠

Confidence Medium

Six-pillar profile for MBCE. Scores out of 100: Cost 0, Risk 24, Mission 35, Tradability 24, Holdings not scored, Durability 36. Strongest: Durability (36). Weakest: Cost (0). Based on 5 of 6 pillars.
F< 25
D≥ 25
C≥ 40
B≥ 55
A≥ 70

Score 19 of 100 sits in the F band. Bands: A ≥ 70, B ≥ 55, C ≥ 40, D ≥ 25, F < 25; the scale skips E.

  • Cost

    What you pay to own it — the expense ratio plus trading frictions, ranked within its category.
    FScore 0
    Category rank99/99 · bottom quartile

  • Mission

    How faithfully it does the job it claims — tracking its mandate or index with minimal slippage.
    DScore 35
    Category rank84/86 · bottom quartile

  • Risk

    How violently it can move — volatility, drawdown depth, and downside capture versus its category.
    FScore 24
    Category rank87/96 · bottom quartile

  • Tradability

    How cheaply and easily you can get in and out — liquidity, spread, and premium/discount stability.
    FScore 24
    Category rank87/99 · bottom quartile

  • Holdings

    What it actually owns — the quality, breadth, and concentration of the underlying portfolio.
    Not scored
    —

  • Durability

    Whether it will still be here — the fund’s assets, age, flows, and issuer staying power.
    DScore 36
    Category rank79/99 · bottom quartile

Graded as of Sep 22, 2026 · Based on 5 of 6 pillars

Our read on MBCE

ETF.net Research

FA boutique spin on blue chips: MBCE follows one proprietary index that screens big US companies for growth and profitability. Live since 2021, it charges 1.14% for an index-following job in a category where pennies are the norm.

Stated mandate

The Fund seeks to track, before fees and expenses, the performance of the Monarch Blue Chips Elite Index.

Why people hold it

  1. 01One job, stated plainly: track the Monarch Blue Chips Elite Index, a growth-and-profitability screen on large US companies. Rules-based, so no manager hunches or style drift.
  2. 02Trading since March 2021, so there is a multi-year record of the strategy running with real money, not just a backtest.
  3. 03Conventional plumbing: a 1940 Act US equity ETF that pays cash out to shareholders quarterly.

Worth knowing

  1. 01The 1.14% fee is many times what big large-cap factor peers charge (IUSG and VYM sit at 0.04%). That gap is paid every year, in every market.
  2. 02It is one of the smaller, lightly traded names in a crowded 100-plus fund cohort, so bid-ask spreads are a genuine part of the cost of owning it.
  3. 03The index's full rulebook is not laid out in public detail, so exactly how names are chosen and rebalanced is largely taken on trust.

MBCE Holdings

As of Sep 20, 2026, 9:24 AM
Asset class
Stocks
Holdings
—
Top-10 weight
87%
Largest holding
BBH SWEEP VEHICLE44.4%

Geography

The fund’s holdings, weight-ordered — page 1 of 1.
#TickerCompanyWeight %SharesMarket valueIn ETFs
001—BBH SWEEP VEHICLE44.37%86,724,964$87M51
002—US DOLLARS7.81%15,270,000$15M67
003AMDAdvanced Micro Devices, Inc.5.06%17,668$10M618
004TXNTexas Instruments, Inc.4.35%31,876$8M497
005CATCaterpillar, Inc.4.32%10,428$8M448
006NVDANVIDIA Corporation4.28%37,670$8M828
007TSLATesla, Inc.4.21%22,603$8M509
008AMZNAmazon.com, Inc.4.16%32,017$8M720
009AMATApplied Materials, Inc.4.13%18,143$8M558
010AVGOBroadcom, Inc.4.11%22,457$8M732
011LRCXLam Research Corporation4.07%27,586$8M591
012PLTRPalantir Technologies, Inc.4.06%44,623$8M503
013GEGE Aerospace Company3.98%24,774$8M404
014AMGNAmgen, Inc.3.82%19,346$7M470

Showing 1–14 of 14 holdings

MBCE Performance

Shows how $10,000 changes over the selected period, with cash distributions reinvested at the closing price on each ex-dividend date.

MBCE$10,464
SPY tracks large US stocks. It provides market context, rather than representing this fund’s strategy, asset class or investment benchmark.$11,723
Sep 22, 2025 to Sep 22, 2026. MBCE $10,464. SPY $11,723. Use the arrow keys to read each point.$8,778$10,381$11,983Sep 2025Mar 2026Sep 2026

Sep 22, 2025 – Sep 22, 2026

Returns run to the Sep 22, 2026 close, with cash distributions reinvested. Each period starts on the same date that many months or years earlier. Periods over one year show the average yearly return.

Trailing total return for MBCE. Periods over one year show the average yearly return.
PeriodMBCE
Year to date+5.6%
1 month+1.4%
3 months−4.8%
1 year+4.6%
3 years+14.3%per year
5 years+6.2%per year
10 yearsFund is under 10 years old—per year

As of the close, with distributions reinvested.

Calendar-year total return with cash distributions hypothetically reinvested at the ex-dividend date’s closing price. The current year shows year to date.

Annual total returns for MBCE
YearReturn barMBCE
2026 YTD+5.6%
2025+7.4%
2024+18.9%
2023+22.3%
2022−20.3%
2021+18.7%

History from Mar 29, 2021

MBCE in the news

ETF.net Research hasn’t filed on MBCE yet — coverage lands here as it’s written.

MBCE Dividends

Adds up every distribution paid per share over the last 12 months, divided by the last completed close. Distributions are counted by ex-date. Data through Sep 22, 2026.
0.23%Last 12 months
Payout per share
$0.09Last 12 months
Last payment
$0.04 per share
Paid on
Shares bought on or after this date do not qualify for this distribution.
Frequency
Quarterly

Distribution history

2023–2026

One bar per payment. 8 payments from 2023 to 2026 YTD. Mar 24, 2023 $0.03; Dec 20, 2023 $0.006; Dec 19, 2024 $0.001; Mar 27, 2025 $0.009; Jun 27, 2025 $0.04; Sep 26, 2025 $0.02; Dec 18, 2025 $0.03; Mar 26, 2026 $0.04. Use the arrow keys to read each point.2023202420252026YTD
Ex-datePay dateAmount per share
Mar 26, 2026Mar 31, 2026$0.04
Dec 18, 2025Dec 23, 2025$0.03
Sep 26, 2025Oct 1, 2025$0.02
Jun 27, 2025Jul 2, 2025$0.04
Mar 27, 2025Apr 1, 2025$0.009
Dec 19, 2024Dec 24, 2024$0.001
Dec 20, 2023Dec 27, 2023$0.006
Mar 24, 2023Apr 3, 2023$0.03

MBCE Risk

How much the fund’s monthly returns vary, scaled to a year.
16.4%
Annualised · 36 months to Aug 2026
How it’s calculated: standard deviation

The sample standard deviation of monthly total returns, multiplied by the square root of 12.

Uses up to 36 complete months, with at least 12 required. Total returns include reinvested distributions.

Return above 3-month US Treasury bills per unit of volatility.
0.45
vs 3-month T-bills · to Aug 2026
How it’s calculated: Sharpe ratio

Subtract each month’s Treasury-bill return from the fund’s monthly total return.

Divide the average of those excess returns by their sample standard deviation, then multiply by the square root of 12.

Uses up to 36 complete months, with at least 12 required. Each month uses the Treasury yield quoted at the end of the previous month.

The largest fall from a peak to the low that followed.
−30.6%
Trough Oct 2022
How it’s calculated: maximum drawdown

The largest percentage decline from an earlier peak, using total returns with reinvested distributions.

Uses up to five years through the last close, with at least 12 months required.

How strongly the fund’s returns move with its asset-class index.
1.01
vs its asset-class index
How it’s calculated: beta

The beta figure is supplied by FMP. The comparison index depends on the fund’s broad asset class.

MBCE Cost

Expense ratio1.01%
  • The middle half of US Multifactor funds
  • Median 0.30%

Every other US Multifactor fund charges less.

MBCE costs $101.00 a year on $10,000. The median US Multifactor fund costs $30.00.