FMCX vs GPIX
FM Focus Equity ETF vs Goldman Sachs S&P 500 Premium Income ETF
Which is better, FMCX or GPIX?
GPIX has been ahead.
GPIX has a lower expense ratio. GPIX led over 1Y, 3Y and the full window. The two have moved almost in lockstep, correlation 0.90.
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 | FMCX | GPIX |
|---|---|---|
| Expense Ratio | 0.72% | 0.29%Best |
| AUM | $115M | $6.3B |
| Dividend Yield | 0.30% | 8.19% |
| Holdings | 32 | 990 |
| YTD Return | +6.73% | +11.57%Best |
| 1Y Return | +7.10% | +12.65%Best |
| 3Y Return (annualized) | +15.11% | +19.60%Best |
| Volatility (annualized) | 14.0% | 10.4%Best |
| Max Drawdown | -18.5% | -17.5%Best |
| $10,000 over 3 years | $16,148 | $17,927Best |
| Fund Family | First Manhattan | Goldman Sachs Asset Management |
| Category | Equity | Equity |
| Style | Large Cap Blend | Large Cap Blend |
| Inception | Apr 22, 2022 | Oct 24, 2023 |
Not shown on this pair: 5Y Return (annualized), Top 10 Weight.
Volatility and max drawdown, and the $10,000 over 3 years row, are measured over the window both funds cover: Oct 26, 2023 to Nov 11, 2026 (3 years).
FMCX vs GPIX 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 3 years both funds cover.
FMCX vs GPIX Performance
FM Focus Equity ETF (FMCX) is an ETF from First Manhattan and Goldman Sachs S&P 500 Premium Income ETF (GPIX) is an ETF from Goldman Sachs Asset Management. Over the past year FMCX returned +7.10% while GPIX returned +12.65%. Year to date, FMCX is up 6.73% versus a gain of 11.57% for GPIX.
Over three years, FMCX compounded at +15.11% per year against +19.60% for GPIX.
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 10.4% for GPIX. 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 -18.5% for FMCX and -17.5% for GPIX. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at 0.90. They move almost in lockstep, so holding both mostly duplicates the same exposure.
Fees and Cost Over Time
FMCX charges 0.72% per year while GPIX charges 0.29%. On a $10,000 position that is $72 vs $29 annually, a gap of $43 per year that compounds over a long holding period. On income, FMCX currently yields 0.30% against 8.19% for GPIX.
Holdings Overlap
At least 27.1% of GPIX'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.
GPIX and FMCX share little of their money.
The two holdings books were reported 46 days apart, FMCX as of Aug 31, 2026 and GPIX as of Oct 16, 2026, so some of the difference between them is the time between the two reports rather than the funds.
24 positions in common, counted across the 28 positions we hold weights for in FMCX and 476 in GPIX, against full books of 32 and 990.
Top Shared Holdings
| Stock | Weight in FMCX | Weight in GPIX | Difference |
|---|---|---|---|
| MSFTMicrosoft Corp | 7.38% | 5.99% | 1.39% |
| NVDANvidia Corp | 1.99% | 7.92% | 5.93% |
| AMZNAmazon.Com Inc | 4.62% | 3.67% | 0.95% |
| GEGeneral Electric Co. | 5.83% | 0.43% | 5.40% |
| KKRKkr & Co. Inc. Class A | 5.89% | 0.09% | 5.80% |
| AVGOBroadcom Inc | 3.13% | 2.39% | 0.74% |
| INTCIntel Corp. | 4.15% | 0.71% | 3.44% |
| CRMSalesforce Inc Crm Us Equity | 4.46% | 0.29% | 4.17% |
| TMOThermo Fisher | 4.07% | 0.38% | 3.69% |
| HONAHona | 3.89% | 0.08% | 3.81% |
27.1% of GPIX 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.
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Frequently Asked Questions
Which is cheaper, FMCX or GPIX?
FMCX has an expense ratio of 0.72% while GPIX charges 0.29%. GPIX is the cheaper option, by $43 a year on a $10,000 investment.
Which performed better, FMCX or GPIX?
Over the past year FMCX returned +7.10% vs +12.65% for GPIX, so GPIX leads on 1-year performance. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, FMCX or GPIX?
FMCX has been the more volatile fund at 14.0% annualized versus 10.4% for GPIX. Worst drawdown: FMCX -18.5% vs GPIX -17.5%.
Should I hold both FMCX and GPIX?
FMCX and GPIX have a monthly-return correlation of 0.90, 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 FMCX and GPIX?
At least 27.1% of GPIX's money is in holdings FMCX also owns. Our book for FMCX is partial, so the real figure is this or higher. They hold 24 positions in common, counted across the 28 positions we hold weights for in FMCX and 476 in GPIX.
Which pays a higher dividend, FMCX or GPIX?
FMCX yields 0.30% while GPIX yields 8.19%, so GPIX currently pays the higher dividend yield.
Is GPIX better than FMCX?
GPIX has a lower expense ratio. GPIX led over 1Y, 3Y and the full window. The two have moved almost in lockstep, correlation 0.90. Which one suits a particular account depends on what it is for. This is information, not a recommendation.