I think I like fivex better, access to funds and managers that you can't get into with less than 2 million.
Also, it has outperformed, so far.
Index's are computer driven in many ways, where mutual fund holders might not be as quick to sell, also some of the funds fivex invests in require a holding period to avoid redemption fees.
As far as the 'holy grail' sentiment, not sure I agree. It seems like a good core holding for sure. Closest I have come to a holy grail is BPT. They have never increased the share count, only two employees, 10 - 13% yield, and the share price has tripled in the last couple years.
Good Luck