FMCX vs VTI
FM Focus Equity ETF vs Vanguard Morningstar Total Stock Market ETF
Which is better, FMCX or VTI?
Nearly the same fund. VTI costs less.
VTI has a lower expense ratio. VTI led over 1Y, 3Y and the full window. The two have moved almost in lockstep, correlation 0.97. VTI is less concentrated, with 33.3% 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 | VTI |
|---|---|---|
| Expense Ratio | 0.72% | 0.03%Best |
| AUM | $118M | $666.9B |
| Dividend Yield | 0.29% | 1.03% |
| Holdings | 32 | 3,543 |
| YTD Return | +4.98% | +11.95%Best |
| 1Y Return | +3.24% | +15.05%Best |
| 3Y Return (annualized) | +15.49% | +22.32%Best |
| 5Y Return (annualized) | - | +12.50% |
| Volatility (annualized) | 15.6% | 15.4%Best |
| Max Drawdown | -18.5%Best | -19.3% |
| $10,000 over 4.4 years | $14,789 | $18,369Best |
| Top 10 Weight | 54.3% | 33.3%Best |
| Fund Family | First Manhattan | Vanguard (US) |
| Category | Equity | Equity |
| Style | Large Cap Blend | Large Cap Blend |
| Inception | Apr 22, 2022 | May 24, 2001 |
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 30, 2026 (4.4 years).
FMCX vs VTI 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 VTI Performance
FM Focus Equity ETF (FMCX) is an ETF from First Manhattan and Vanguard Morningstar Total Stock Market ETF (VTI) is an ETF from Vanguard (US). Over the past year FMCX returned +3.24% while VTI returned +15.05%. Year to date, FMCX is up 4.98% versus a gain of 11.95% for VTI.
Over three years, FMCX compounded at +15.49% per year against +22.32% for VTI. Across the full 4-year window we track, VTI has the edge at +14.82% annualized vs +9.30%.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
FMCX has been the more volatile fund, with annualized monthly volatility of 15.6% compared with 15.4% for VTI. 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 -19.3% for VTI. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at 0.97. 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 VTI 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 1.03% for VTI.
Holdings Overlap
82.1% of FMCX's money is in holdings VTI also owns. 30.1% of VTI's money is in holdings FMCX also owns.
Most of FMCX is already inside VTI. Owning both mostly buys the same companies twice.
The two holdings books were reported 61 days apart, FMCX as of May 31, 2026 and VTI as of Jul 31, 2026, so some of the difference between them is the time between the two reports rather than the funds.
28 positions in common, counted across the 32 positions we hold weights for in FMCX and 3,463 in VTI, against full books of 32 and 3,543.
What only one of them owns
Our book lists 1,123 positions for VTI that do not appear in our book for FMCX (67.3% of the fund), and 2 for FMCX that do not appear in VTI (14.7%).
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 VTI | Difference |
|---|---|---|---|
| MSFTMicrosoft Corp | 6.63% | 4.79% | 1.84% |
| AMZNAmazon.Com Inc | 4.87% | 3.65% | 1.22% |
| NVDANvidia Corp | 1.93% | 6.40% | 4.47% |
| AVGOBroadcom Inc | 3.83% | 2.56% | 1.27% |
| GEGeneral Electric Co. | 5.69% | 0.52% | 5.17% |
| INTCIntel Corporation | 5.38% | 0.50% | 4.88% |
| KKRKkr & Co. Inc. Class a | 5.21% | 0.09% | 5.12% |
| HONHoneywell International Inc. | 4.41% | 0.11% | 4.30% |
| GOOGAlphabet Inc | 1.61% | 2.31% | 0.70% |
| ORLYO'Eilly Automotive, Inc. | 3.56% | 0.10% | 3.46% |
82.1% of FMCX is already inside VTI.
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 VTI?
FMCX has an expense ratio of 0.72% while VTI charges 0.03%. VTI is the cheaper option, by $69 a year on a $10,000 investment.
Which performed better, FMCX or VTI?
Over the past year FMCX returned +3.24% vs +15.05% for VTI, so VTI leads on 1-year performance. Over the longest common window we track (4 years), FMCX annualized +9.30% vs +14.82% for VTI. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, FMCX or VTI?
FMCX has been the more volatile fund at 15.6% annualized versus 15.4% for VTI. Worst drawdown: FMCX -18.5% vs VTI -19.3%.
Should I hold both FMCX and VTI?
FMCX and VTI have a monthly-return correlation of 0.97, 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 VTI?
82.1% of FMCX's money is in holdings VTI also owns. 30.1% of VTI's is in holdings FMCX also owns. They hold 28 positions in common, counted across the 32 positions we hold weights for in FMCX and 3,463 in VTI.
Which pays a higher dividend, FMCX or VTI?
FMCX yields 0.29% while VTI yields 1.03%, so VTI currently pays the higher dividend yield.
Is VTI better than FMCX?
VTI has a lower expense ratio. VTI led over 1Y, 3Y and the full window. The two have moved almost in lockstep, correlation 0.97. VTI is less concentrated, with 33.3% 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.