FPAAvsMPROETF Comparison
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FPA Global Allocation ETF (FPAA) and Monarch Procap ETF (MPRO) belong to the same industry segment: Multi-Asset: Other. FPAA's top 3 sector exposures are Sovereign, Technology and Consumer Non-Cyclicals. In contrast, MPRO's top sector exposures are Sovereign, Finance and Healthcare. FPAA is more expensive with a Total Expense Ratio (TER) of 1.33%, versus 1.03% for MPRO. Run a side-by-side ETF comparison of FPAA and MPRO below, and assess how they stack up in performance, liquidity, risk, exposure, holdings, and more, helping you select the best ETF for your investments.
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FPAA vs MPRO performance and flow charts
Performance
Cumulative Flows
Historic performance and flows
Data as of 10/16/2026
| 1M | 3M | YTD | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|---|---|
| Perf. | FPAA MPRO | +1.04%+2.14% | +0.67%+0.39% | n/a+7.47% | n/a+7.34% | n/a+38.39% | n/a+31.40% |
| Flows | FPAA MPRO | +$7M+$2M | +$15M-$862K | -+$16M | -+$29M | -+$126M | -+$164M |
Volatility and drawdown
| 3M | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|
| Volatility | FPAA MPRO | +8.08%+6.58% | n/a+6.88% | n/a+7.65% | n/a+9.16% |
| Max drawdown | FPAA MPRO | -4.40%-3.92% | n/a-5.67% | n/a-9.51% | n/a-14.48% |
| Max drawdown duration | FPAA MPRO | 51d79d | n/a87d | n/a316d | n/a757d |
Trading data
FPAA | MPRO | |
Last sale 10/16/2026 at 1:30 PM | $25.19 | $32.63 |
| Previous close 10/15/2026 | $25.26 | $32.51 |
| Consolidated volume 10/15/2026 | ||
| Average volume 30 days | ||
| Average discount or premium 30 days | ||
| Average Bid/Ask spread 30 days |
Replication quality
Data as of September 30, 2026
1-year trailing difference
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FPAA
is actively managed and doesn’t replicate an indexFPAA | MPRO | |
|---|---|---|
| Tracking error | ||
| Tracking difference | ||
| 1 year cumulative return difference | ||
| Best | ||
| Worst | ||
| Daily return difference | ||
| Average | ||
| Worst | ||
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Main metrics
Last update 10/16/2026 at 1:30 PM
Live
Closed
FPAA | MPRO | |
|---|---|---|
| Last price | $25.19 | $32.63 |
| 1D performance | -0.28% | +0.37% |
| AuM | $27.87 M | $254.55 M |
| E/R | 1.33% | 1.03% |
Characteristics
FPAA | MPRO | |
|---|---|---|
| Management strategy | Active | Passive |
| Provider | First Pacific Advisors | Monarch Fund |
| Benchmark | - | Solactive Kingsview ProCap Index |
| N° of holdings | 10775 | 10643 |
| Asset class | - | Equities |
| Trailing 12m distribution yield | Join | Join |
| Inception date | June 5, 2026 | March 24, 2021 |
| ESG | No | No |
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Exposure
Countries
FPAA
USA
70.02%
Other
29.98%
MPRO
USA
87.16%
Other
12.84%
Sectors
FPAA
Sovereign
35.98%
Technology
12.92%
Consumer Non-Cycl.
8.56%
Healthcare
7.67%
Other
34.87%
MPRO
Sovereign
23.56%
Finance
14.6%
Healthcare
11.16%
Technology
10.85%
Industrials
7.73%
Consumer Non-Cycl.
7.29%
Other
24.8%
Diversification
FPAA
Total weight of top 15 holdings out of 15
59.12%
MPRO
Total weight of top 15 holdings out of 15
14.19%
Top 15 holdings
Data as of August 31, 2026
FPAA
USA, Notes 4.125% 30jun2031, USD (AA-2031)
21.27%
USA, Notes 4.125% 31may2031, USD (Z-2031)
8.18%
USA, Notes 4.375% 31jul2031, USD (AB-2031)
6.53%
Alphabet, Inc.
2.41%
International Flavors & Fragrances, Inc.
2.26%
Heineken Holding NV
2.03%
US9220408457
2.03%
Analog Devices, Inc.
2.02%
Citigroup, Inc.
1.94%
Becton, Dickinson & Co.
1.92%
Meta Platforms, Inc.
1.80%
Amazon.com, Inc.
1.75%
Arthur J. Gallagher & Co.
1.72%
The Magnum Ice Cream Co. N.V.
1.63%
Glencore Plc
1.63%
MPRO
Meta Platforms, Inc.
1.68%
Eli Lilly & Co.
1.54%
BlackRock Cash Funds - Institutional
1.50%
Amazon.com, Inc.
1.20%
Johnson & Johnson
1.08%
Alphabet, Inc.
1.03%
Tesla, Inc.
0.85%
Alphabet, Inc.
0.82%
AbbVie, Inc.
0.76%
NVIDIA Corp.
0.72%
Apple, Inc.
0.63%
Merck & Co., Inc.
0.61%
UnitedHealth Group, Inc.
0.60%
JPMorgan Chase & Co.
0.58%
Berkshire Hathaway, Inc.
0.57%
Frequently asked questions about FPAA and MPRO
Which ETF is bigger: FPAA or MPRO?
As of October 16, 2026, FPAA holds $27.87 M in assets under management (AUM), while MPRO manages $254.55 M.
What sectors do the FPAA and MPRO ETFs invest in?
FPAA leans toward sectors like Sovereign, Technology and Consumer Non-Cyclicals. Meanwhile, MPRO focuses on Sovereign, Finance and Healthcare.
What are the top holdings of the FPAA ETF and MPRO ETF?
FPAA top holdings include USA, Notes 4.125% 30jun2031, USD (AA-2031), USA, Notes 4.125% 31may2031, USD (Z-2031) and USA, Notes 4.375% 31jul2031, USD (AB-2031). MPRO holds in its top three: Meta Platforms, Inc., Eli Lilly & Co. and BlackRock Cash Funds - Institutional.
Which ETF is more diversified: FPAA or MPRO?
FPAA holds 11103 securities with 59.12% of its assets in the top 15. MPRO has 13680 securities and a top 15 weight of 14.19%.
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