FMCX vs SCHD
FM Focus Equity ETF vs Schwab US Dividend Equity ETF
Which is better, FMCX or SCHD?
Large Cap Blend against Large Cap Value.
SCHD has a lower expense ratio. SCHD led over 1Y, 3Y and the full window. SCHD is less concentrated, with 41.5% 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 | SCHD |
|---|---|---|
| Expense Ratio | 0.72% | 0.06%Best |
| AUM | $120M | $112.2B |
| Dividend Yield | 0.29% | 3.13% |
| Holdings | 32 | 103 |
| YTD Return | +6.59% | +26.13%Best |
| 1Y Return | +7.55% | +30.01%Best |
| 3Y Return (annualized) | +14.47% | +16.09%Best |
| 5Y Return (annualized) | - | +9.95% |
| Volatility (annualized) | 15.5% | 14.9%Best |
| Max Drawdown | -18.5% | -16.1%Best |
| $10,000 over 4.4 years | $15,095 | $15,529Best |
| Top 10 Weight | 54.3% | 41.5%Best |
| Fund Family | First Manhattan | Charles Schwab Asset Management |
| Category | Equity | Equity |
| Style | Large Cap Blend | Large Cap Value |
| Inception | Apr 22, 2022 | Oct 20, 2011 |
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 SCHD 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 SCHD Performance
FM Focus Equity ETF (FMCX) is an ETF from First Manhattan and Schwab US Dividend Equity ETF (SCHD) is an ETF from Charles Schwab Asset Management. Over the past year FMCX returned +7.55% while SCHD returned +30.01%. Year to date, FMCX is up 6.59% versus a gain of 26.13% for SCHD.
Over three years, FMCX compounded at +14.47% per year against +16.09% for SCHD. Across the full 4-year window we track, SCHD has the edge at +10.52% 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 14.9% 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 -16.1% for SCHD. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at 0.65. They move together some of the time, and apart the rest.
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
2.7% of FMCX's money is in holdings SCHD also owns. 4.1% of SCHD's money is in holdings FMCX also owns.
SCHD and FMCX share little of their money.
The two holdings books were reported 68 days apart, FMCX as of May 31, 2026 and SCHD as of Aug 7, 2026, so some of the difference between them is the time between the two reports rather than the funds.
1 positions in common, counted across the 32 positions we hold weights for in FMCX and 100 in SCHD, against full books of 32 and 103.
What only one of them owns
Our book lists 97 positions for SCHD that do not appear in our book for FMCX (95.6% of the fund), and 29 for FMCX that do not appear in SCHD (94.1%).
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 SCHD | Difference |
|---|---|---|---|
| UNHUnitedhealth Group | 2.67% | 4.11% | 1.44% |
You are not choosing between two funds in isolation.
Whichever of FMCX and SCHD you pick has to sit alongside everything else you own. Add the rest and see what the combination actually holds.
Free for up to 10 holdings. No account needed.
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, by $66 a year on a $10,000 investment.
Which performed better, FMCX or SCHD?
Over the past year FMCX returned +7.55% vs +30.01% for SCHD, so SCHD leads on 1-year performance. Over the longest common window we track (4 years), FMCX annualized +9.81% vs +10.52% for SCHD. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, FMCX or SCHD?
FMCX has been the more volatile fund at 15.5% annualized versus 14.9% for SCHD. Worst drawdown: FMCX -18.5% vs SCHD -16.1%.
Should I hold both FMCX and SCHD?
FMCX and SCHD have a monthly-return correlation of 0.65, 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 SCHD?
4.1% of SCHD's money is in holdings FMCX also owns. 4.1% of SCHD's is in holdings FMCX also owns. They hold 1 positions in common, counted across the 32 positions we hold weights for in FMCX and 100 in SCHD.
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.
Is SCHD better than FMCX?
SCHD has a lower expense ratio. SCHD led over 1Y, 3Y and the full window. SCHD is less concentrated, with 41.5% 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.