FMCX vs SCHD
FM Focus Equity ETF vs Schwab US Dividend Equity ETF
Quick Verdict
SCHD has a lower expense ratio. SCHD delivered stronger 1-year returns. SCHD offers more diversification with 104 holdings.
Side-by-Side Comparison
| Metric | FMCX | SCHD | Winner |
|---|---|---|---|
| Expense Ratio | 0.72% | 0.06% | |
| AUM | $122M | $108.7B | |
| Dividend Yield | 0.29% | 3.13% | |
| Holdings | 32 | 104 | |
| YTD Return | +7.05% | +26.50% | |
| 1Y Return | +9.20% | +31.25% | |
| 3Y Return (annualized) | +15.27% | +16.34% | |
| 5Y Return (annualized) | - | +10.10% | |
| Volatility (annualized) | 15.7% | 13.6% | |
| Max Drawdown | -18.5% | -33.4% | |
| Fund Family | First Manhattan | Charles Schwab Asset Management | |
| Category | Equity | Equity | |
| Inception | Apr 22, 2022 | Oct 20, 2011 |
FMCX vs SCHD Performance
FM Focus Equity ETF (FMCX) is a ETF from First Manhattan and Schwab US Dividend Equity ETF (SCHD) is a ETF from Charles Schwab Asset Management. Over the past year FMCX returned +9.20% while SCHD returned +31.25%. Year to date, FMCX is up 7.05% versus a gain of 26.50% for SCHD.
Over three years, FMCX compounded at +15.27% per year against +16.34% for SCHD. Across the full 4-year window we track, SCHD has the edge at +11.50% annualized vs +10.06%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
FMCX has been the more volatile fund, with annualized monthly volatility of 15.7% compared with 13.6% for SCHD. 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 -33.4% for SCHD. Drawdown depth is worth weighing if you expect to sell during market stress rather than ride it out.
The two funds' monthly returns correlate at 0.65. They move independently enough that combining them can meaningfully diversify a portfolio.
Fees and Cost Over Time
FMCX charges 0.72% per year while SCHD charges 0.06%. On a $10,000 position that is $72 vs $6 annually, a gap of $66 per year that compounds over a long holding period. On income, FMCX currently yields 0.29% against 3.13% for SCHD.
Holdings Overlap
FMCX and SCHD share 1 holdings out of 131 unique holdings combined, representing a 2.7% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Top Shared Holdings
| Stock | Weight in FMCX | Weight in SCHD | Difference |
|---|---|---|---|
| UNH | 2.67% | 4.11% | 1.44% |
Frequently Asked Questions
Which is cheaper, FMCX or SCHD?
FMCX has an expense ratio of 0.72% while SCHD charges 0.06%. SCHD is the cheaper option. On a $10,000 investment, that is $66 per year of difference.
Which performed better, FMCX or SCHD?
Over the past year FMCX returned +9.20% vs +31.25% for SCHD, so SCHD leads on 1-year performance. Over the longest common window we track (4 years), FMCX annualized +10.06% vs +11.50% for SCHD. Past performance does not guarantee future results.
Which is riskier, FMCX or SCHD?
FMCX has been the more volatile fund at 15.7% annualized versus 13.6% for SCHD. Worst drawdown: FMCX -18.5% vs SCHD -33.4%.
Should I hold both FMCX and SCHD?
FMCX and SCHD have a monthly-return correlation of 0.65, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between FMCX and SCHD?
FMCX and SCHD share 1 common holdings with a 2.7% weight overlap. Combined, they hold 131 unique securities.
Which pays a higher dividend, FMCX or SCHD?
FMCX yields 0.29% while SCHD yields 3.13%, so SCHD currently pays the higher dividend yield.
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