ETFIQ
RankingsCompareHoldingsFlowsResearch
Ask ETFIQETF ModelsMy portfolioWeekly note
ETF Model Portfolios · MFUL · Moderately conservative band

MFUL against the ETFIQ Strategic 40 benchmark

Mindful Conservative ETF holds 36.2% of its net assets in stocks, counted through the funds it holds, which places it in the moderately conservative band. Its matched benchmark is ETFIQ Strategic, 40% stocks, a written rule, not a fund.

Share on X

In the year to Sep 30, 2026, MFUL returned +1.54%, 3.73 points behind the ETFIQ Strategic 40 benchmark’s hypothetical +5.27%.

Growth of $10,000

Trailing ranges end on Sep 30, 2026, All on Oct 9, 2026. MFUL’s line is its own market-price total return; the benchmark’s is dashed and shaded where hypothetical, before Oct 5, 2026. The largest drawdown of MFUL is shaded where the comparison dates it. Computed by ETFIQ from Tiingo daily prices. Not published: the 5Y range, the comparison carries no such window; the 10Y range, the comparison carries no such window.

Growth of $10,000 over 1Y, Sep 30, 2025 to Sep 30, 2026: MFUL ends at $10,154, Strategic 40 at $10,527, the benchmark hypothetical.$11,149$10,618$10,088$9,557hypothetical · the current rule applied to past prices$10,154$10,5272025 Sep2025 Dec2026 Apr2026 Jul2026 Sep
MFULStrategic 40, the benchmarkHypothetical
Value of $10,000 at six points from Sep 30, 2025 to Sep 30, 2026; the same numbers as the chart. MFUL is its market-price total return; the benchmark is hypothetical.
Value onSep 30, 2025Dec 10, 2025Feb 24, 2026May 7, 2026Jul 21, 2026Sep 30, 2026
MFUL$10,000$10,026$10,217$10,235$10,277$10,154
Reference$10,000$10,176$10,467$10,585$10,635$10,527
Growth of $10,000 over 3Y, Sep 29, 2023 to Sep 30, 2026: MFUL ends at $11,565, Strategic 40 at $13,610, the benchmark hypothetical.$14,395$12,750$11,106$9,462hypothetical · the current rule applied to past prices$11,565$13,61020232024202520252026
MFULStrategic 40, the benchmarkHypotheticalLargest drawdown −4.73%, Dec 4, 2024 to Apr 8, 2025
Value of $10,000 at six points from Sep 29, 2023 to Sep 30, 2026; the same numbers as the chart. MFUL is its market-price total return; the benchmark is hypothetical.
Value onSep 29, 2023May 6, 2024Dec 10, 2024Jul 21, 2025Feb 25, 2026Sep 30, 2026
MFUL$10,000$10,467$11,061$11,200$11,648$11,565
Reference$10,000$11,039$11,904$12,433$13,574$13,610
Growth of $10,000 over the whole shared history, Nov 3, 2021 to Oct 9, 2026: MFUL ends at $9,885, Strategic 40 at $12,049, the benchmark hypothetical.$12,643$11,036$9,429$7,823hypothetical · the current rule applied to past pricestracked$9,885$12,04920212023202420252026
MFULStrategic 40, the benchmarkHypothetical
Value of $10,000 at six points from Nov 3, 2021 to Oct 9, 2026; the same numbers as the chart. MFUL is its market-price total return; the benchmark is hypothetical.
Value onNov 3, 2021Oct 27, 2022Oct 24, 2023Oct 17, 2024Oct 15, 2025Oct 9, 2026
MFUL$10,000$8,555$8,440$9,322$9,713$9,885
Reference$10,000$8,246$8,654$10,382$11,421$12,049

MFUL and Strategic 40 by window

WindowFromToMFULStrategic 40Difference, pointsSide
Year to dateDec 31, 2025Oct 9, 2026+1.97%+4.17%*−2.20MFUL behind
1 yearSep 30, 2025Sep 30, 2026+1.54%+5.27%*−3.73MFUL behind
3 years, a yearSep 29, 2023Sep 30, 2026+4.97%+10.82%*−5.85MFUL behind
5 years, a yearnot publishednot publishednot publishednot publishednot publishednot published
10 years, a yearnot publishednot publishednot publishednot publishednot publishednot published
Since Nov 3, 2021, a yearNov 30, 2021Sep 30, 2026+0.07%+4.07%*−4.00MFUL behind
MFUL’s own market-price total return beside Strategic 40 over the same closes; YTD and 1 year as total returns, the longer windows a year over whole months. The difference is the two printed figures subtracted, in percentage points. *Hypothetical as a whole: the benchmark’s window begins before its tracked date, Oct 5, 2026. Data sourced by Tiingo.

Fees

PortfolioFeeA yearOn $10,000As of
MFULExpense ratio, from its prospectus1.48%$148Jan 27, 2026
Strategic 40Weighted fund fee, inside its returns0.04%$4Oct 9, 2026
Both fees are already inside the returns above. On $10,000 is the fee times 100, the dollars a year at that fee.

Risk over 3 years

FigureMFULStrategic 40
Volatility, a year4.46%7.25%
Largest drawdown, on daily values−4.73%−6.47%
Beta to the benchmark0.57measured against itself
Correlation0.93measured against itself
Tracking error, a year3.55%measured against itself
Up capture0.53measured against itself
Down capture0.63measured against itself
From monthly returns, Sep 29, 2023 to Sep 30, 2026, 36 months; the drawdown on daily values. Beta, correlation, tracking error and captures measure the fund against the benchmark.
How a benchmark is published

A written rule over broad, low-cost ETFs, frozen on Oct 3, 2026, with its weights, calendar and returns on its own page. Figures before Oct 5, 2026 are hypothetical: today’s rule and funds applied to earlier prices. Total returns are market price with distributions reinvested, net of each fund’s own fees, with nothing else deducted. The price source does not carry funds that closed before 2016, so nothing here is free of survivorship bias. Methodology v1.3 →

Where to next
MFUL fund page→The Strategic 40 benchmark→Every benchmark at 40% stocks→Every model, side by side→How the benchmarks are built→

Questions people ask about MFUL and its benchmark

Why is MFUL measured against ETFIQ Strategic 40?
MFUL holds 36.2% of its net assets in stocks, counted through the funds it holds, so it sits in the moderately conservative band, more than 30% and up to 50% stocks. ETFIQ Strategic 40 is the benchmark for that band.
What does ETFIQ Strategic 40 hold?
40% VT and 60% US bonds (BND and AGG in equal parts), rebalanced on the last trading day of each month. It is a published rule, not a fund, and ETFIQ takes no payment from any fund company.
Why are the benchmark’s returns hypothetical?
Its rule was frozen on a stated date. Returns before it apply today’s rule and funds to earlier prices; the fund’s own returns are its market price with distributions reinvested. The price source does not carry funds that closed before 2016, so nothing here is free of survivorship bias.
Cite this page

ETFIQ, MFUL vs the ETFIQ Strategic 40 benchmark, data as of Oct 9, 2026. https://etfiq.com/models/compare/mful/

Open data →

Free to use with attribution for figures ETFIQ computes; issuer data stays under its owner's terms. The underlying files are at Open data. Figures before Oct 5, 2026 are hypothetical.

Sources and credit
Prices and distributions, every fund the benchmarks holdData sourced by Tiingo · end of day · Oct 9, 2026The risk-free rate, for the Sharpe ratioU.S. Treasury daily bill ratesMFUL’s page, with its prospectus and feeMFUL’s page, with its prospectus and feeMFUL’s prospectus filing, for its expense ratioMFUL’s prospectus filing, for its expense ratio

Computed by ETFIQ from Tiingo daily prices. Data sourced by Tiingo.