ENDW vs MPRO

ENDWACambria Endowment Style ETF

MPROCMonarch ProCap ETF

In short

ENDW The endowment playbook in one ticker: global stocks, bonds and real assets, actively steered by Cambria, with built-in leverage, for 0.22% a year. Endowment ambition without the endowment fee schedule.

MPRO MPRO reads employment data to place the economy in one of four cycle phases, then rotates a 6-to-9 ETF portfolio across bonds, five stock sectors and a dash of gold. Rules-based macro allocation in one ticker, at 1.03% with no waiver.

Stated mandate

ENDW ENDW seeks income and capital appreciation. It is actively managed to provide exposure to multiple major asset classes through underlying ETFs or individual equities.

MPRO The Fund seeks to replicate, before fees and expenses, the performance of the Monarch ProCap Index. It uses a replication-indexing strategy to pursue that objective.

Why people hold it

• ENDW 0.22% a year against a roughly 0.95% median for tactical allocation funds, and cheaper than the other standouts in the group such as ONOF (0.39%) and GMOD (0.50%).
• One ticker spans US, developed and emerging markets across equities, bonds and real assets, roughly 70 positions, with value and momentum screens applied on top.cambriafunds.com
• Capital efficient by design: the manager expects notional exposure of 100% to 150% of assets, using Treasury futures alongside the underlying ETF sleeves.usnews.combusinesswire.com
• Pays income quarterly, and on our review it sits among the strongest implementations in the tactical allocation group.

• MPRO The macro playbook in one ticker: the index sorts the cycle into expansion, peak, contraction or trough, then sets the bond/stock split and picks five of the eleven GICS sectors.sec.gov
• Guardrails are written down, not improvised: 6 to 9 holdings, stocks and bonds each held between 15% and 75%, and up to 10% in alternatives such as gold or currency ETFs.sec.gov
• Running since 2021 and now a fund in the hundreds of millions, with Kingsview building the index and Penserra on the trading desk. Distributions come quarterly.sec.gov

Worth knowing

• ENDW It owns other ETFs, which charge their own fees on top of the 0.22% management fee, so the all-in cost of ownership runs higher than the headline.cambriafunds.com
• Leverage works both ways. Notional exposure above 100% of assets magnifies moves in either direction, and Cambria itself calls the risk profile aggressive.businesswire.com
• Launched in 2025 and still modest in size, so the record is short and shares change hands less often than mainstream index funds.

• MPRO At 1.03% it sits above the typical fee in its tactical multi-asset category, and above rules-based peers like ENDW at 0.22% or GMOD at 0.50% net of a waiver through June 30, 2027.
• The equity sleeve owns five of eleven sectors at a time, so when the cycle call changes the portfolio reshuffles and sector bets can run well off the broad market.sec.gov
• It buys other ETFs, so those funds' own expenses ride underneath, and shares trade lightly enough that the bid/ask gap is worth checking.sec.gov

Full ENDW profile⁠

Full MPRO profile⁠