GMOD vs XNAV: Grades, Fees and Holdings Compared

GMO Dynamic Allocation ETF

GMODANYSE Arca

FundX Aggressive ETF

XNAVDNYSE Arca

Overlap

0.0%by weight

Expense ratio

GMOD −0.77pt a year

GMOD0.50%XNAV1.27%

Avg volume · 30D

GMOD 12.1×the volume

GMOD11.8KXNAV976

GMOD vs XNAV Performance

Oct 31, 2025 – Nov 2, 2026

+12.1%GMOD+5.3%XNAV

Expense ratio: GMOD 0.50%, better; XNAV 1.27%
Fund size: GMOD $51M; XNAV $29M
1Y total return: GMOD +12.1%, better; XNAV +5.3%
Yield (12M): GMOD No data; XNAV 0.55%
Holdings: GMOD 19; XNAV 21
Avg volume (30D): GMOD 11.8K sh, better; XNAV 976 sh
NAV per share: GMOD $27.77; XNAV $86.24
52W range

ETF.net Grade

Pillar letters and Scores for GMOD, XNAV, with each pillar’s weight
Pillar	GMOD	XNAV
Cost30% weight	A90Higher	F18
Mission25% weight	A74	Not scored
Risk15% weight	A75Higher	F24
Tradability15% weight	A73Higher	C44
Holdings10% weight	B64	A74Higher
Durability5% weight	C49	B63Higher

Rank among Tactical Allocation funds

How we build Categories ›

Same Category. GMOD and XNAV are both graded against the same 46 Tactical Allocation funds, so their Grades compare head to head.

Tactical Allocation⁠

Category · 46 funds

See all 46 ›

GMOD ranks 2nd and XNAV 41st of 46 funds in the Tactical Allocation Category.

Rank 1AENDWCambria Endowment Style ETFScore 81
Rank 2AGMODGMO Dynamic Allocation ETFScore 76
Rank 3APTBDPacer Trendpilot US Bond ETFScore 72
Rank 40DHFDGA Core Plus Absolute Return ETFScore 37
Rank 41DXNAVFundX Aggressive ETFScore 34
Rank 42DEZROAlphaDroid Defensive Sector Rotation ETFScore 33

Our read on each fund

ETF.net Research

GMODAGMO Dynamic Allocation ETF

XNAVDFundX Aggressive ETF

In short

GMOD GMO's 7-year asset class forecasts, finally wrapped in an ETF. It tilts toward what the firm's valuation models call cheap and away from what they call expensive, shifting between stocks, bonds and alternatives inside one ticker.

XNAV A fund of ETFs that rotates into what's leading: the advisor's "Upgrading" system, in print as a newsletter since 1976, pointed at the aggressive end (sector and country funds). The 1.27% fee is the price of the hand-steering.

Stated mandate

GMOD The Fund seeks positive total return. It allocates among asset classes using GMO's multi-year return forecasts and relative-risk assessments.

XNAV Seeks long-term capital appreciation without prioritizing income.

Why people hold it

GMOD 0.50% all-in, about half the typical fee in its tactical-allocation peer group, and a contractual waiver offsets the fees of the GMO funds it holds so costs are not stacked.sec.gov
GMO's first multi-asset strategy in an ETF, run by the asset allocation team behind the firm's long-running 7-year asset class forecasts.gmo.com
The equity dial can swing between 40% and 80% of assets under normal conditions, so the fund handles the reallocating rather than you selling positions to do it.gmo.com
Sits in the upper tier of a crowded tactical multi-asset group on cost and process clarity.

XNAV The engine is "Upgrading": rank a pool of ETFs, hold the leaders, rotate out as they fade. The advisor has published this method in a monthly newsletter since 1976.sec.gov
Not a startup. The strategy ran as a mutual fund from 2002 and converted into this ETF in October 2022, carrying the predecessor's record with it.sec.gov
Exposure arrives as whole ETFs, sorted into five risk classes (sector, aggressive, core, total return, bond), with the aggressive sleeve leaning on sector and country funds.sec.gov sec.gov 2

Worth knowing

GMOD New in 2025 and lightly traded so far, which can mean wider bid-ask spreads than the big allocation ETFs.
It owns other GMO funds, and the single 0.50% rate leans on a contractual waiver with an expiration date rather than a permanent cap.sec.gov
Cheaper tactical allocators exist (ENDW at 0.22%, ONOF at 0.39%), though each runs a different process.

XNAV The 1.27% fee (no waiver) sits above the category median, and the underlying ETFs charge their own fees on top. Peer ENDW runs 0.22%.
Momentum cuts both ways: the prospectus flags the risk of buying an ETF right after a brief surge, and turnover runs high by design.sec.gov sec.gov 2
Small and thinly traded, so bid-ask spreads can be wider and larger orders can move the price.

Full GMOD profile⁠

Full XNAV profile⁠

GMOD vs XNAV Holdings

How GMOD and XNAV differ

Overlap by weight

0.0%

Shared holdings make up 0.0% of GMOD and 0.0% of XNAV.

Level by level

Holdings0 in both0.0%
Countryby domicile78.0%

Sector

No Sector split for GMOD.

Country, concentration and asset class

Country by domicile

Country weights in GMOD and XNAV, widest gap first
Country	More in GMODMore in XNAV	GMOD	XNAV
United States	XNAV +18.7 points	67.1%	85.8%
Japan	GMOD +5.1 points	6.6%	1.5%
France	GMOD +2.5 points	2.6%	0.1%
Canada	GMOD +2.4 points	3.3%	0.9%
United Kingdom	GMOD +2.3 points	2.9%	0.6%
South Korea	XNAV +1.9 points	1.7%	3.6%
Switzerland	GMOD +1.8 points	2.1%	0.3%
Taiwan	XNAV +1.4 points	2.9%	4.3%
Other countries (33)	GMOD +7.7 points	10.6%	2.9%

Outside the US: GMOD 73% developed, 27% emerging.

Concentration

Weight in the 10 largest Holdings

GMOD78.6%
XNAV63.3%

Securities held

GMOD19
XNAV21

Asset class

GMOD: Multi-Asset
XNAV: Equity

Holdings

Only in GMOD19
In both0
Only in XNAV21

Only in GMOD

19 securities, 100% of GMOD by weight

Ishares 7 10 Year Treasury Bon14.15%
Schwab Us Tips Etf10.16%
Gmo International Value Etf9.93%
Gmo Us Quality Etf9.91%
Gmo Us Value Etf9.35%
Gmo International Quality Etf5.19%
Schwab Intermediate Term U.s.5.07%
Vanguard Intermediate Term Tre5.05%
State Street Spdr Portfolio In5.05%
Ishares Core Msci Emerging Mar4.69%
Gmo Domestic Resilience Etf4.08%
Ishares Msci Japan Value Etf4.02%
Ishares Core Msci Internationa2.96%
Ishares Msci Emerging Markets2.77%
Vanguard Short Term Treasury E2.49%
Ishares Msci Eafe Small Cap Et1.94%
Gmo Power Infrastructure Etf1.82%
Vanguard Total International’s1.12%
State Str Instl Invt Tr0.25%

Only in XNAV

21 securities, 100% of XNAV by weight

Vanguard Morningstar Growth ETF10.50%
Schwab U.S. Large-Cap Growth ETF8.91%
iShares MSCI USA Value Factor ETF8.13%
Wisdomtree US Quality Growth Fund6.39%
iShares MSCI USA Momentum Factor ETF5.39%
VanEck Semiconductor ETF5.26%
Pacer US Small Cap Cash Cows ETF5.07%
State Street SPDR S&P Semiconductor ETF4.79%
Avantis International Small Cap Value ETF4.61%
State Street SPDR NYSE Technology ETF4.28%
Invesco S&P 500 Momentum ETF4.13%
Avantis U.S. Small Cap Value ETF3.91%
iShares U.S. Oil Equipment & Services ETF3.70%
iShares Semiconductor ETF3.68%
State Street SPDR S&P Biotech ETF3.63%
Invesco Nasdaq 100 ETF3.61%
First Trust Cloud Computing ETF3.51%
First Trust NASDAQ-100 Technology Index Fund3.48%
iShares MSCI Taiwan ETF3.42%
iShares MSCI South Korea ETF3.22%
First American Government Obligations Fund 12/01/20310.44%

Weight gaps

GMOD and XNAV share no securities.

All GMOD holdings⁠All XNAV holdings⁠

How we measure overlap

Each holding counts at its smaller weight in the two funds, summed over the full Holdings. Sector, country and asset class use the same rule on each fund’s split. Cash, FX and derivative lines stay out of the counts. Two bond funds get no overlap figure.

GMOD vs XNAV Cost

Overpaying XNAV vs GMOD

$12,939

On $10,000 over 30 years. 7% growth a year before fees, expense ratio only.

GMOD 0.50%
$9,979
XNAV 1.27%
$22,918

Amount$10,000

Years30 years

Cost over time

GMOD 0.50%
XNAV 1.27%
Overpaying

Year by year

Year	GMOD	XNAV	Overpaying
10	$900	$2,214	$1,314
20	$3,460	$8,220	$4,760
30	$9,979	$22,918	$12,939

Expense ratio

0.50%GMOD, cheaper
1.27%XNAV

GMOD0.50%XNAV1.27%

0.22%1.99%

Middle half of Tactical Allocation funds
Median 0.93%

GMOD 6th cheapest of 46 funds

XNAV 38th cheapest of 46 funds

GMOD vs XNAV Dividends

Last 12 months to Nov 2, 2026

Yield (12M): GMOD No data; XNAV 0.55%
Payout (12M): GMOD No data; XNAV $0.47
Last payment: GMOD $0.14; XNAV $0.47
Ex-dividend: GMOD Jun 30, 2026; XNAV Dec 31, 2025
Paid on: GMOD Jul 1, 2026; XNAV Jan 2, 2026
Frequency: GMOD Twice a year; XNAV Annual

Distribution history

Per share, 2022 to 2026, same scale for both

GMODTwice a year · 2 paymentsAll GMOD payments⁠

XNAVAnnual · 4 paymentsAll XNAV payments⁠

GMOD vs XNAV Risk

Fall from peak · 5 years

This chart needs five years of history for both funds.

Risk facts

VolatilityStd dev, 3 years: GMOD 8.7%since Nov 2025XNAV 17.6%
Return per unit of riskSharpe ratio, 3 years: GMOD 0.89since Nov 2025XNAV 0.89
Worst fallMax drawdown, 5 years: GMOD −6.5%since Oct 2025XNAV −24.3%since Oct 2022
Market sensitivityBeta, 5 years: GMOD 0.48XNAV 1.13; Market = 1

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