BAFE vs FMCX
Brown Advisory Flexible Equity ETF vs FM Focus Equity ETF
Which is better, BAFE or FMCX?
BAFE has been ahead.
BAFE has a lower expense ratio. BAFE led over 1Y and the full window. The two have moved almost in lockstep, correlation 0.91.
MarketXLS is not an investment adviser. This comparison is generated automatically from market data and is for information only. A Best mark means the better reading on that one measure, not a recommendation to buy.
Side-by-Side Comparison
| Metric | BAFE | FMCX |
|---|---|---|
| Expense Ratio | 0.54%Best | 0.72% |
| AUM | $1.7B | $115M |
| Dividend Yield | 0.27% | 0.30% |
| Holdings | 87 | 32 |
| YTD Return | +10.96%Best | +6.73% |
| 1Y Return | +13.58%Best | +7.10% |
| 3Y Return (annualized) | - | +15.11% |
| Volatility (annualized) | 12.9%Best | 14.0% |
| Max Drawdown | -18.4%Best | -18.5% |
| $10,000 over 2 years | $12,173Best | $11,651 |
| Fund Family | Brown Advisory | First Manhattan |
| Category | Equity | Equity |
| Style | Large Cap Blend | Large Cap Blend |
| Inception | Nov 18, 2024 | Apr 22, 2022 |
Not shown on this pair: 5Y Return (annualized), Top 10 Weight.
Volatility and max drawdown, and the $10,000 over 2 years row, are measured over the window both funds cover: Nov 18, 2024 to Nov 11, 2026 (2 years).
BAFE vs FMCX growth
Month-end closes. Both lines start at 0% in the first month shown, so the gap between them is the difference in growth across that window. The full view covers the 2 years both funds cover.
BAFE vs FMCX Performance
Brown Advisory Flexible Equity ETF (BAFE) is an ETF from Brown Advisory and FM Focus Equity ETF (FMCX) is an ETF from First Manhattan. Over the past year BAFE returned +13.58% while FMCX returned +7.10%. Year to date, BAFE is up 10.96% versus a gain of 6.73% for FMCX.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
FMCX has been the more volatile fund, with annualized monthly volatility of 14.0% compared with 12.9% for BAFE. Lower volatility generally means a smoother ride, though it often comes with lower long-run returns.
The deepest peak-to-trough decline in our data was -18.4% for BAFE and -18.5% for FMCX. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at 0.91. They move almost in lockstep, so holding both mostly duplicates the same exposure.
Fees and Cost Over Time
BAFE charges 0.54% per year while FMCX charges 0.72%. On a $10,000 position that is $54 vs $72 annually, a gap of $18 per year that compounds over a long holding period. On income, BAFE currently yields 0.27% against 0.30% for FMCX.
Holdings Overlap
At least 30.3% of BAFE's money is in holdings FMCX also owns.
Stated as a floor: for FMCX, our book for it covers 88.0% of that fund, so a holding it does not list is one we cannot count as shared. The real figure is this or higher.
The two portfolios partly overlap.
9 positions in common, counted across the 42 positions we hold weights for in BAFE and 28 in FMCX, against full books of 87 and 32.
Top Shared Holdings
| Stock | Weight in BAFE | Weight in FMCX | Difference |
|---|---|---|---|
| MSFTMicrosoft Corp | 6.70% | 7.38% | 0.68% |
| AMZNAmazon.Com Inc | 4.46% | 4.62% | 0.16% |
| KKRKkr & Co. Inc. Class A | 2.67% | 5.89% | 3.22% |
| GEGeneral Electric Co. | 1.40% | 5.83% | 4.43% |
| VVisa Inc Class A | 4.50% | 2.43% | 2.07% |
| NVDANvidia Corp | 3.68% | 1.99% | 1.69% |
| GOOGAlphabet Inc. C | 3.60% | 1.89% | 1.71% |
| BKNGBooking Holdings, Inc. | 1.94% | 2.47% | 0.53% |
| SPGIS&p Global Inc. | 1.38% | 2.43% | 1.05% |
30.3% of BAFE is already inside FMCX.
You probably hold more than these two. Add the rest and see how much of the whole book is the same companies twice.
Free for up to 10 holdings. No account needed.
Frequently Asked Questions
Which is cheaper, BAFE or FMCX?
BAFE has an expense ratio of 0.54% while FMCX charges 0.72%. BAFE is the cheaper option, by $18 a year on a $10,000 investment.
Which performed better, BAFE or FMCX?
Over the past year BAFE returned +13.58% vs +7.10% for FMCX, so BAFE leads on 1-year performance. Over the longest common window we track (2 years), BAFE annualized +10.33% vs +7.94% for FMCX. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, BAFE or FMCX?
FMCX has been the more volatile fund at 14.0% annualized versus 12.9% for BAFE. Worst drawdown: BAFE -18.4% vs FMCX -18.5%.
Should I hold both BAFE and FMCX?
BAFE and FMCX have a monthly-return correlation of 0.91, so they move almost identically. What is left to separate them is the fee and the index each one tracks. This is information, not a recommendation.
What is the holdings overlap between BAFE and FMCX?
At least 30.3% of BAFE's money is in holdings FMCX also owns. Our book for FMCX is partial, so the real figure is this or higher. They hold 9 positions in common, counted across the 42 positions we hold weights for in BAFE and 28 in FMCX.
Which pays a higher dividend, BAFE or FMCX?
BAFE yields 0.27% while FMCX yields 0.30%, so FMCX currently pays the higher dividend yield.
Is FMCX better than BAFE?
BAFE has a lower expense ratio. BAFE led over 1Y and the full window. The two have moved almost in lockstep, correlation 0.91. Which one suits a particular account depends on what it is for. This is information, not a recommendation.