FMCX vs QLTY
FM Focus Equity ETF vs GMO US Quality ETF
Which is better, FMCX or QLTY?
QLTY has been ahead.
QLTY has a lower expense ratio. QLTY led over 1Y, 3Y and the full window.
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 | QLTY |
|---|---|---|
| Expense Ratio | 0.72% | 0.50%Best |
| AUM | $115M | $5.4B |
| Dividend Yield | 0.30% | 0.65% |
| Holdings | 32 | 92 |
| YTD Return | +6.73% | +15.66%Best |
| 1Y Return | +7.10% | +19.25%Best |
| 3Y Return (annualized) | +15.11% | +21.77%Best |
| Volatility (annualized) | 12.9% | 11.7%Best |
| Max Drawdown | -18.5% | -17.0%Best |
| $10,000 over 3 years | $14,917 | $18,056Best |
| Fund Family | First Manhattan | GMO |
| Category | Equity | Equity |
| Style | Large Cap Blend | Large Cap Blend |
| Inception | Apr 22, 2022 | Nov 13, 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: Nov 15, 2023 to Nov 11, 2026 (3 years).
FMCX vs QLTY 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 QLTY Performance
FM Focus Equity ETF (FMCX) is an ETF from First Manhattan and GMO US Quality ETF (QLTY) is an ETF from GMO. Over the past year FMCX returned +7.10% while QLTY returned +19.25%. Year to date, FMCX is up 6.73% versus a gain of 15.66% for QLTY.
Over three years, FMCX compounded at +15.11% per year against +21.77% for QLTY.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
FMCX has been the more volatile fund, with annualized monthly volatility of 12.9% compared with 11.7% for QLTY. 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 -17.0% for QLTY. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at 0.86. They usually move together, but the gap leaves some room for diversification.
Fees and Cost Over Time
FMCX charges 0.72% per year while QLTY charges 0.50%. On a $10,000 position that is $72 vs $50 annually, a gap of $22 per year that compounds over a long holding period. On income, FMCX currently yields 0.30% against 0.65% for QLTY.
Holdings Overlap
At least 33.9% of QLTY'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.
The two holdings books were reported 49 days apart, FMCX as of Aug 31, 2026 and QLTY as of Oct 19, 2026, so some of the difference between them is the time between the two reports rather than the funds.
11 positions in common, counted across the 28 positions we hold weights for in FMCX and 45 in QLTY, against full books of 32 and 92.
Top Shared Holdings
| Stock | Weight in FMCX | Weight in QLTY | Difference |
|---|---|---|---|
| MSFTMicrosoft Corp | 7.38% | 7.98% | 0.60% |
| TMOThermo Fisher | 4.07% | 4.53% | 0.46% |
| AMZNAmazon.Com Inc | 4.62% | 3.41% | 1.21% |
| GEGeneral Electric Co. | 5.83% | 1.64% | 4.19% |
| CRMSalesforce Inc Crm Us Equity | 4.46% | 2.17% | 2.29% |
| AVGOBroadcom Inc | 3.13% | 3.25% | 0.12% |
| VVisa Inc Class A | 2.43% | 3.02% | 0.59% |
| NVDANvidia Corp | 1.99% | 2.92% | 0.93% |
| UBERUber Technologies Inc | 3.07% | 1.16% | 1.91% |
| SNPSSynopsys | 1.82% | 1.64% | 0.18% |
33.9% of QLTY 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, FMCX or QLTY?
FMCX has an expense ratio of 0.72% while QLTY charges 0.50%. QLTY is the cheaper option, by $22 a year on a $10,000 investment.
Which performed better, FMCX or QLTY?
Over the past year FMCX returned +7.10% vs +19.25% for QLTY, so QLTY leads on 1-year performance. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, FMCX or QLTY?
FMCX has been the more volatile fund at 12.9% annualized versus 11.7% for QLTY. Worst drawdown: FMCX -18.5% vs QLTY -17.0%.
Should I hold both FMCX and QLTY?
FMCX and QLTY have a monthly-return correlation of 0.86, so their returns are far enough apart for the mix to behave differently from either one alone. This is information, not a recommendation.
What is the holdings overlap between FMCX and QLTY?
At least 33.9% of QLTY's money is in holdings FMCX also owns. Our book for FMCX is partial, so the real figure is this or higher. They hold 11 positions in common, counted across the 28 positions we hold weights for in FMCX and 45 in QLTY.
Which pays a higher dividend, FMCX or QLTY?
FMCX yields 0.30% while QLTY yields 0.65%, so QLTY currently pays the higher dividend yield.
Is QLTY better than FMCX?
QLTY has a lower expense ratio. QLTY led over 1Y, 3Y and the full window. Which one suits a particular account depends on what it is for. This is information, not a recommendation.