FMCX vs IVV
FM Focus Equity ETF vs iShares Core S&P 500 ETF
Which is better, FMCX or IVV?
Nearly the same fund. IVV costs less.
IVV has a lower expense ratio. IVV led over 1Y, 3Y and the full window. The two have moved almost in lockstep, correlation 0.96. IVV is less concentrated, with 37.9% of the fund in its ten largest positions against 54.3%.
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 | IVV |
|---|---|---|
| Expense Ratio | 0.72% | 0.03%Best |
| AUM | $120M | $886.7B |
| Dividend Yield | 0.29% | 1.10% |
| Holdings | 32 | 508 |
| YTD Return | +6.59% | +12.70%Best |
| 1Y Return | +7.55% | +19.36%Best |
| 3Y Return (annualized) | +14.47% | +21.16%Best |
| 5Y Return (annualized) | - | +12.75% |
| Volatility (annualized) | 15.5% | 15.2%Best |
| Max Drawdown | -18.5%Best | -18.8% |
| $10,000 over 4.4 years | $15,095 | $19,054Best |
| Top 10 Weight | 54.3% | 37.9%Best |
| Fund Family | First Manhattan | iShares by BlackRock (US) |
| Category | Equity | Equity |
| Style | Large Cap Blend | Large Cap Blend |
| Inception | Apr 22, 2022 | May 15, 2000 |
Volatility and max drawdown, and the $10,000 over 4.4 years row, are measured over the window both funds cover: Apr 25, 2022 to Sep 8, 2026 (4.4 years).
FMCX vs IVV 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 4.4 years both funds cover.
FMCX vs IVV Performance
FM Focus Equity ETF (FMCX) is an ETF from First Manhattan and iShares Core S&P 500 ETF (IVV) is an ETF from iShares by BlackRock (US). Over the past year FMCX returned +7.55% while IVV returned +19.36%. Year to date, FMCX is up 6.59% versus a gain of 12.70% for IVV.
Over three years, FMCX compounded at +14.47% per year against +21.16% for IVV. Across the full 4-year window we track, IVV has the edge at +15.78% annualized vs +9.81%.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
FMCX has been the more volatile fund, with annualized monthly volatility of 15.5% compared with 15.2% for IVV. 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 -18.8% for IVV. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at 0.96. 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 IVV charges 0.03%. On a $10,000 position that is $72 vs $3 annually, a gap of $69 per year that compounds over a long holding period. On income, FMCX currently yields 0.29% against 1.10% for IVV.
Holdings Overlap
81.7% of FMCX's money is in holdings IVV also owns. 34.8% of IVV's money is in holdings FMCX also owns.
Most of FMCX is already inside IVV. Owning both mostly buys the same companies twice.
The two holdings books were reported 66 days apart, FMCX as of May 31, 2026 and IVV as of Aug 5, 2026, so some of the difference between them is the time between the two reports rather than the funds.
27 positions in common, counted across the 32 positions we hold weights for in FMCX and 504 in IVV, against full books of 32 and 508.
What only one of them owns
Our book lists 466 positions for IVV that do not appear in our book for FMCX (64.4% of the fund), and 3 for FMCX that do not appear in IVV (15.1%).
Some of those will be the same company recorded under a different code in one of the two books, so the real difference in what you would own is no larger than this and may be smaller. We do not name the individual positions here for that reason.
Top Shared Holdings
| Stock | Weight in FMCX | Weight in IVV | Difference |
|---|---|---|---|
| MSFTMicrosoft Corp 4.100 Feb 06 37 | 6.63% | 5.44% | 1.19% |
| NVDANvidia Corp. | 1.93% | 7.98% | 6.05% |
| AMZNAmazon.Com Inc | 4.87% | 4.01% | 0.86% |
| AVGOBroadcom Inc | 3.83% | 2.98% | 0.85% |
| GEGeneral Electric Co. | 5.69% | 0.60% | 5.09% |
| INTCIntel Corp. | 5.38% | 0.72% | 4.66% |
| KKRKkr & Co., Inc., Series A, Pfd. | 5.21% | 0.11% | 5.10% |
| HONHoneywell International Inc. | 4.41% | 0.12% | 4.29% |
| GOOGAlphabet, Inc., Class C | 1.61% | 2.56% | 0.95% |
| METAMeta Platform Inc | 1.79% | 1.94% | 0.15% |
81.7% of FMCX is already inside IVV.
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, FMCX or IVV?
FMCX has an expense ratio of 0.72% while IVV charges 0.03%. IVV is the cheaper option, by $69 a year on a $10,000 investment.
Which performed better, FMCX or IVV?
Over the past year FMCX returned +7.55% vs +19.36% for IVV, so IVV leads on 1-year performance. Over the longest common window we track (4 years), FMCX annualized +9.81% vs +15.78% for IVV. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, FMCX or IVV?
FMCX has been the more volatile fund at 15.5% annualized versus 15.2% for IVV. Worst drawdown: FMCX -18.5% vs IVV -18.8%.
Should I hold both FMCX and IVV?
FMCX and IVV have a monthly-return correlation of 0.96, 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 IVV?
81.7% of FMCX's money is in holdings IVV also owns. 34.8% of IVV's is in holdings FMCX also owns. They hold 27 positions in common, counted across the 32 positions we hold weights for in FMCX and 504 in IVV.
Which pays a higher dividend, FMCX or IVV?
FMCX yields 0.29% while IVV yields 1.10%, so IVV currently pays the higher dividend yield.
Is IVV better than FMCX?
IVV has a lower expense ratio. IVV led over 1Y, 3Y and the full window. The two have moved almost in lockstep, correlation 0.96. IVV is less concentrated, with 37.9% of the fund in its ten largest positions against 54.3%. Which one suits a particular account depends on what it is for. This is information, not a recommendation.