FMCX vs USMC
FM Focus Equity ETF vs Principal U.S. Mega-Cap ETF
Which is better, FMCX or USMC?
USMC has been ahead.
USMC has a lower expense ratio. USMC led over 1Y, 3Y and the full window. The two have moved almost in lockstep, correlation 0.91.
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 | USMC |
|---|---|---|
| Expense Ratio | 0.72% | 0.12%Best |
| AUM | $115M | $4.8B |
| Dividend Yield | 0.30% | 0.74% |
| Holdings | 32 | 213 |
| YTD Return | +6.73% | +11.54%Best |
| 1Y Return | +7.10% | +9.85%Best |
| 3Y Return (annualized) | +15.11% | +21.10%Best |
| 5Y Return (annualized) | - | +13.28% |
| Volatility (annualized) | 15.5% | 14.8%Best |
| Max Drawdown | -18.5%Best | -19.1% |
| $10,000 over 4.5 years | $15,013 | $19,335Best |
| Fund Family | First Manhattan | Principal Funds |
| Category | Equity | Equity |
| Style | Large Cap Blend | Large Cap Blend |
| Inception | Apr 22, 2022 | Oct 11, 2017 |
Not shown on this pair: Top 10 Weight.
Volatility and max drawdown, and the $10,000 over 4.5 years row, are measured over the window both funds cover: Apr 25, 2022 to Nov 11, 2026 (4.5 years).
FMCX vs USMC 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 4.5 years both funds cover.
FMCX vs USMC Performance
FM Focus Equity ETF (FMCX) is an ETF from First Manhattan and Principal U.S. Mega-Cap ETF (USMC) is an ETF from Principal Funds. Over the past year FMCX returned +7.10% while USMC returned +9.85%. Year to date, FMCX is up 6.73% versus a gain of 11.54% for USMC.
Over three years, FMCX compounded at +15.11% per year against +21.10% for USMC.
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 14.8% for USMC. 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 -19.1% for USMC. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at 0.91. 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 USMC charges 0.12%. On a $10,000 position that is $72 vs $12 annually, a gap of $60 per year that compounds over a long holding period. On income, FMCX currently yields 0.30% against 0.74% for USMC.
Holdings Overlap
At least 37.8% of USMC'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.
20 positions in common, counted across the 28 positions we hold weights for in FMCX and 101 in USMC, against full books of 32 and 213.
Top Shared Holdings
| Stock | Weight in FMCX | Weight in USMC | Difference |
|---|---|---|---|
| MSFTMicrosoft Corp | 7.38% | 7.99% | 0.61% |
| NVDANvidia Corp | 1.99% | 10.23% | 8.24% |
| AMZNAmazon.Com Inc | 4.62% | 4.95% | 0.33% |
| GEGeneral Electric Co. | 5.83% | 0.66% | 5.17% |
| AVGOBroadcom Inc | 3.13% | 3.25% | 0.12% |
| GOOGAlphabet Inc. C | 1.89% | 3.54% | 1.65% |
| INTCIntel Corp. | 4.15% | 0.83% | 3.32% |
| CRMSalesforce Inc Crm Us Equity | 4.46% | 0.39% | 4.07% |
| TMOThermo Fisher | 4.07% | 0.52% | 3.55% |
| VVisa Inc Class A | 2.43% | 1.35% | 1.08% |
37.8% of USMC 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 USMC?
FMCX has an expense ratio of 0.72% while USMC charges 0.12%. USMC is the cheaper option, by $60 a year on a $10,000 investment.
Which performed better, FMCX or USMC?
Over the past year FMCX returned +7.10% vs +9.85% for USMC, so USMC leads on 1-year performance. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, FMCX or USMC?
FMCX has been the more volatile fund at 15.5% annualized versus 14.8% for USMC. Worst drawdown: FMCX -18.5% vs USMC -19.1%.
Should I hold both FMCX and USMC?
FMCX and USMC have a monthly-return correlation of 0.91, 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 USMC?
At least 37.8% of USMC's money is in holdings FMCX also owns. Our book for FMCX is partial, so the real figure is this or higher. They hold 20 positions in common, counted across the 28 positions we hold weights for in FMCX and 101 in USMC.
Which pays a higher dividend, FMCX or USMC?
FMCX yields 0.30% while USMC yields 0.74%, so USMC currently pays the higher dividend yield.
Is USMC better than FMCX?
USMC has a lower expense ratio. USMC led over 1Y, 3Y and the full window. The two have moved almost in lockstep, correlation 0.91. Which one suits a particular account depends on what it is for. This is information, not a recommendation.