I don't know about the monarchs, but someone here will be able to clue you in.

Looking further, I find that the Vortex Diamondbacks are really highly regarded. They are on Amazon right now for $166

http://www.birdwatching.com/optics/2016_affordable_8x42/review.html

Vortex Optics New 2016 Diamondback 10x42 Roof Prism Binoculars https://www.amazon.com/dp/B0192GJLMU/ref=cm_sw_r_cp_api_YqvCybKA6BN1H

Honestly, I'd upgrade your binoculars first. Many of the birds you see on hikes will not stick around long enough for you to get a scope on them, and it is much harder to track a fast moving bird with a high powered scope. Scopes are a good supplement in certain situations; if you are studying shorebirds, at a stationary event, or wanting to show a cooperative bird to someone without needing them to find it in their bins. Scopes aren't really an "upgrade" from binoculars, but a compliment to your binoculars in specific situations.

Vortex makes very affordable binoculars of good quality. With better glass and a larger aperture you will be able to get much better looks at the birds, and be much more mobile. Plus they have one of the best warranties I have seen. A good pair of binoculars will improve your birding much more than a scope, especially for a casual birder. Once you start noticing an actual need for a scope (eg. simply can't make out the field marks due to distance, or find yourself surrounded by nearly identical shorebirds), then save up for a good one. I have the Vortex Razor HD 85mm and love it, but I only ever bring it out when I am leading a group or know I will be spending a good amount of time on shorebirds or looking for a specific bird.