MFUL vs XRLX: Grades, Fees and Holdings Compared

Mindful Conservative ETF

MFULCCboe

FundX Investment Conservative ETF

XRLXCNYSE Arca

Overlap

4.9%by weight

Expense ratio

XRLX −0.28pt a year

MFUL1.48%XRLX1.20%

Avg volume · 30D

XRLX 2.3×the volume

MFUL719XRLX1.64K

3Y return · a year

XRLX +7.4pt

MFUL+4.8%XRLX+12.2%

MFUL vs XRLX Performance

Oct 31, 2025 – Nov 2, 2026

+0.4%MFUL+4.1%XRLX

Expense ratio: MFUL 1.48%; XRLX 1.20%, better
Fund size: MFUL $7M; XRLX $45M
1Y total return: MFUL +0.4%; XRLX +4.1%, better
Yield (12M): MFUL 1.88%; XRLX 2.68%, better
Holdings: MFUL 18; XRLX 20
Avg volume (30D): MFUL 719 sh; XRLX 1.64K sh, better
NAV per share: MFUL $21.91; XRLX $47.90
52W range

ETF.net Grade

Pillar letters and Scores for MFUL, XRLX, with each pillar’s weight
Pillar	MFUL	XRLX
Cost30% weight	F19	D30Higher
Mission25% weight	A76	A81Higher
Risk15% weight	C44Higher	D35
Tradability15% weight	D34	B55Higher
Holdings10% weight	C51	B63Higher
Durability5% weight	C44	B61Higher

Rank among Conservative Allocation funds

How we build Categories ›

Same Category. MFUL and XRLX are both graded against the same 7 Conservative Allocation funds, so their Grades compare head to head.

Conservative Allocation⁠

Category · 7 funds

See all 7 ›

XRLX ranks 4th and MFUL 6th of 7 funds in the Conservative Allocation Category.

Rank 1AAOKiShares Core 30/70 Conservative Allocation ETFScore 86
Rank 2ACGMSCapital Group U.S. Multi-Sector Income ETFScore 76
Rank 3CBLUIBluemonte Diversified Income ETFScore 52
Rank 4CXRLXFundX Investment Conservative ETFScore 51
Rank 5CTHRVProspera Income ETFScore 46
Rank 6CMFULMindful Conservative ETFScore 43
Rank 7CBFIXBuild Bond Innovation ETFScore 40

Our read on each fund

ETF.net Research

MFULCMindful Conservative ETF

XRLXCFundX Investment Conservative ETF

In short

MFUL Most conservative allocation funds ride out the storm. MFUL's signals can shift up to the entire portfolio into cash or money-market ETFs instead. A 2021-vintage, tactical fund-of-ETFs at 1.48%, no waiver.

XRLX Most conservative allocation funds are index blends on autopilot. XRLX is actively managed: a fund of funds that ranks other funds on recent returns, buys the leaders and sells them when they fade.

Stated mandate

MFUL The Fund seeks current income and is positioned for conservative investors who can tolerate only limited pricing volatility.

XRLX The Fund seeks long-term capital appreciation and may provide a low level of current income intended to reduce portfolio volatility.

Why people hold it

MFUL Its documents let the trend technology move up to the entire portfolio to cash or money-market ETFs during an unexpected market event. Few conservative allocators go that far.sec.gov mohrfunds.com
Built tight on purpose: roughly 10 to 20 positions, mostly asset-class-representative ETFs, so every line is a real allocation call, not a rounding error.sec.gov
The label is the mandate: current income for investors who can tolerate only limited pricing volatility, and the portfolio has stayed inside that brief.mohrfunds.com

XRLX The Upgrading discipline has a long paper trail: FundX has published its no-load fund newsletter since 1976, and this conservative version has run inside a fund since 2002.sec.gov
No stock picking. It buys other funds, so one ticker gets you a multi-manager mix of stock and bond funds rather than a single manager's call.sec.gov sec.gov 2
Built around a plainly stated mandate: long-term capital appreciation plus a low level of current income meant to reduce portfolio volatility.
Sits in the upper half of a small conservative-income peer group.

Worth knowing

MFUL At 1.48% with no waiver, it sits above the median of this eight-fund category. XRLX, the next priciest listed peer, charges 1.20%.
Small and thinly traded, so spreads and order type matter more here than in a giant allocation ETF.
Trend signals cut both ways: a move to cash helps only if the trend persists, and the timing of re-entry is part of the mechanism.sec.gov

XRLX The fee is 1.20% a year, above the category median and well above plain multi-sector peers like CGMS at 0.39%. Active fund selection is what the premium buys.
Fund-of-funds math: shareholders also bear a share of the underlying funds' fees, which appear as their own line in the fee table.sec.gov
It is a small fund that trades lightly, so bid-ask spreads can run wider and larger orders are more sensitive to execution.

Full MFUL profile⁠

Full XRLX profile⁠

MFUL vs XRLX Holdings

How MFUL and XRLX differ

Overlap by weight

4.9%

Shared holdings make up 6.6% of XRLX and 4.9% of MFUL.

Level by level

Holdings1 in both4.9%
Sector11 Sectors82.7%
Countryby domicile98.0%

Sector

Sector weights in MFUL and XRLX, widest gap first
Sector	More in MFULMore in XRLX	MFUL	XRLX
Technology	XRLX +13.2 points	28.6%	41.8%
Financials	MFUL +4.7 points	14.6%	9.9%
Consumer Staples	MFUL +4.5 points	8.0%	3.5%
Communication	XRLX +2.6 points	6.5%	9.1%
Utilities	MFUL +1.9 points	3.2%	1.3%
Materials	MFUL +1.9 points	3.9%	2.0%
Health Care	MFUL +1.8 points	10.6%	8.8%
Consumer Discretionary	XRLX +1.6 points	7.0%	8.6%
Industrials	MFUL +1.5 points	11.3%	9.8%
Energy	MFUL +0.6 points	3.9%	3.3%
Real Estate	MFUL +0.4 points	2.3%	1.9%

Country, concentration and asset class

Country by domicile

Country weights in MFUL and XRLX, widest gap first
Country	More in MFULMore in XRLX	MFUL	XRLX
United Kingdom	XRLX +0.5 points	1.3%	1.8%
Other countries (41)	MFUL +0.5 points	98.7%	98.2%

Concentration

Weight in the 10 largest Holdings

MFUL70.5%
XRLX64.2%

Securities held

MFUL17
XRLX19

Asset class

MFUL: Multi-Asset
XRLX: Multi-Asset

Holdings

Only in MFUL16
In both1
Only in XRLX18

Only in MFUL

16 securities, 93.8% of MFUL by weight

Wisdomtree Floating Rate Treas Wisdomtree Floating Rate Tre13.42%
Spdr Bloomberg Barclays 1-3 Month T-Bill Etf10.50%
Ishares Core Moderate Alloca9.14%
Ishares Short Maturity Bond8.31%
Ishares Core Aggressive Allo4.96%
Spdr Bloomberg Barclays Convertible Securities Etf4.91%
Ishares Edge Msci Usa Qualit4.87%
Ishares Us Treasury Bond Etf4.80%
Schwab Us Large-Cap Etf4.70%
Vanguard Short-Term Bond Etf4.58%
Ishares 5-10Y Inv Grade Corp4.40%
Vaneck Real Assets Etf4.09%
WisdomTree Yield Enhanced U.S. Agg Bond Fund3.98%
Schwab Us Dvd Equity Etf3.86%
Invesco Dividend Achievers ETF3.81%
Vanguard Mega Cap Etf3.47%

Only in XRLX

18 securities, 93.4% of XRLX by weight

Vanguard Morningstar Growth ETF9.33%
iShares Russell 1000 Value ETF8.66%
PIMCO 0-5 Year High Yield Corporate Bond Exchange-Traded Fund6.73%
iShares MSCI USA Value Factor ETF6.34%
Invesco S&P 500 Momentum ETF5.76%
Invesco S&P 500 Pure Growth ETF5.74%
PIMCO Enhanced Short Maturity Active Exchange-Traded Fund5.07%
iShares Treasury Floating Rate Bond ETF5.00%
Janus Henderson AAA CLO ETF4.98%
iShares Global 100 ETF4.83%
Wisdomtree US Quality Growth Fund4.81%
VanEck IG Floating Rate ETF4.80%
NYLIM Merger Arbitrage ETF4.79%
iShares Core 30/70 Conservative Allocation ETF4.76%
Janus Henderson B-BBB CLO ETF4.73%
iShares MSCI USA Momentum Factor ETF4.06%
Vanguard Russell 1000 Value2.05%
First American Government Obligations Fund 12/01/20310.93%

Weight gaps

All 1 Holdings in both funds, largest gap first.

Holding weights in MFUL and XRLX, widest gap first
Holding	More in MFULMore in XRLX	MFUL	XRLX
Ishares Core Growth AllocatiAOR	XRLX +1.66 points	4.89%	6.55%

All 18 MFUL holdings⁠All XRLX 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.

MFUL vs XRLX Cost

Overpaying MFUL vs XRLX

$4,148

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

MFUL 1.48%
$25,999
XRLX 1.20%
$21,851

Amount$10,000

Years30 years

Cost over time

MFUL 1.48%
XRLX 1.20%
Overpaying

Year by year

Year	MFUL	XRLX	Overpaying
10	$2,558	$2,098	$460
20	$9,408	$7,814	$1,594
30	$25,999	$21,851	$4,148

Expense ratio

1.48%MFUL
1.20%XRLX, cheaper

XRLX1.20%MFUL1.48%

0.15%1.80%

Middle half of Conservative Allocation funds
Median 0.67%

XRLX 5th cheapest of 7 funds

MFUL 6th cheapest of 7 funds

MFUL vs XRLX Dividends

Last 12 months to Nov 2, 2026

Yield (12M): MFUL 1.88%; XRLX 2.68%, better
Payout (12M): MFUL $0.41; XRLX $1.28
Last payment: MFUL $0.41; XRLX $1.28
Ex-dividend: MFUL Dec 16, 2025; XRLX Dec 31, 2025
Paid on: MFUL Dec 17, 2025; XRLX Jan 2, 2026
Frequency: MFUL Quarterly; XRLX Annual

Distribution history

Per share, 2022 to 2026, same scale for both

MFULQuarterly · 8 paymentsAll MFUL payments⁠

XRLXAnnual · 3 paymentsAll XRLX payments⁠

MFUL vs XRLX Risk

Fall from peak · 5 years

This chart needs five years of history for both funds.

Risk facts

VolatilityStd dev, 3 years: MFUL 4.4%, betterXRLX 9.0%
Return per unit of riskSharpe ratio, 3 years: MFUL 0.14XRLX 0.94, better
Worst fallMax drawdown, 5 years: MFUL −16.4%since Nov 2021XRLX −15.4%since Oct 2023
Market sensitivityBeta, 5 years: MFUL 0.47XRLX 0.83; Market = 1

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