FMCX vs. ACWV ETF Comparison

Comparison of FMC Excelsior Focus Equity ETF (FMCX) to iShares MSCI All Country World Minimum Volatility Index Fund (ACWV)

FMCX

FMC Excelsior Focus Equity ETF

FMCX Description

The fund is an actively managed exchange-traded fund (?ETF?) that, during normal market conditions, seeks to invest in approximately 25-30 U.S. exchange-traded common stocks of companies that are listed on U.S. national securities exchanges and trade contemporaneously with the shares of the fund. The fund adviser may also hold concentrated positions in common stocks, although the fund?s guidelines provide that no single investment should generally be more than 10% of the fund?s portfolio at acquisition. The fund is non-diversified.

Grade (RS Rating)

Last Trade

$31.80

Average Daily Volume

Number of Holdings ^*

* may have additional holdings in another (foreign) market

ACWV

iShares MSCI All Country World Minimum Volatility Index Fund

ACWV Description

The investment seeks to track the investment results of an index composed of developed and emerging market equities that, in the aggregate, have lower volatility characteristics relative to the broader developed and emerging equity markets. The fund generally invests at least 90% of its assets in securities of the underlying index or in depositary receipts representing securities in the underlying index. It seeks to track the underlying index, which has been developed by MSCI Inc. ("MSCI") to measure the combined performance of equity securities in both emerging and developed markets that in aggregate have lower volatility. The fund is non-diversified.

Grade (RS Rating)

Last Trade

$113.36

Average Daily Volume

120,821

Number of Holdings ^*

139

* may have additional holdings in another (foreign) market

Performance

Period	FMCX	ACWV
30 Days	0.15%	-0.61%
60 Days	2.99%	-0.32%
90 Days	6.20%	0.70%
12 Months	25.02%	18.15%

13 Overlapping Holdings

Symbol	Grade	Weight in FMCX	Weight in ACWV	Overlap
AMGN	F	1.11%	0.34%	0.34%
CL	D	0.85%	0.35%	0.35%
FWONK	A	0.21%	0.22%	0.21%
GD	D	0.13%	0.18%	0.13%
GDDY	A	4.98%	0.64%	0.64%
GILD	C	0.87%	0.48%	0.48%
KEYS	A	1.06%	0.41%	0.41%
MCD	D	1.12%	1.02%	1.02%
MSFT	D	4.79%	0.76%	0.76%
PG	C	1.3%	0.82%	0.82%
UNH	B	6.84%	0.83%	0.83%
V	A	0.21%	0.59%	0.21%
YUM	D	1.18%	0.24%	0.24%

FMCX Overweight 39 Positions Relative to ACWV

Symbol	Grade	Weight
AAPL	C	6.93%
KKR	A	6.14%
IAC	F	5.35%
AMZN	C	5.01%
LBRDK	C	4.24%
LSXMK	D	4.22%
GGG	B	3.98%
PYPL	B	3.9%
MTCH	D	3.18%
LSXMA	D	1.79%
GOOGL	C	1.77%
LBRDA	C	1.74%
PM	B	1.21%
CMCSA	B	1.13%
VUSB	A	0.92%
ICSH	A	0.92%
MO	A	0.84%
ENTG	D	0.82%
ARWR	D	0.72%
NKE	F	0.68%
HON	C	0.6%
DHR	F	0.55%
GOOG	C	0.5%
BAX	F	0.47%
YUMC	C	0.42%
MUSA	B	0.4%
SPGI	C	0.37%
MTX	B	0.33%
KEX	B	0.33%
EQR	C	0.3%
JPM	A	0.3%
MUR	D	0.25%
BKNG	A	0.19%
FLWS	D	0.15%
BATRK	D	0.11%
PNR	A	0.1%
FWONA	A	0.05%
VMEO	B	0.03%
BATRA	F	0.02%

FMCX Underweight 126 Positions Relative to ACWV

Symbol	Grade	Weight
TMUS	B	-2.03%
MSI	B	-1.88%
WMT	A	-1.82%
CSCO	B	-1.57%
WM	B	-1.5%
MCK	A	-1.42%
ROP	B	-1.36%
RSG	A	-1.19%
VRTX	D	-1.13%
PEP	F	-1.08%
MRK	D	-1.06%
JNJ	C	-1.05%
COR	B	-1.05%
BRK.A	B	-0.91%
CB	C	-0.88%
MMC	B	-0.88%
PGR	A	-0.84%
ED	C	-0.84%
KR	B	-0.83%
DUK	C	-0.81%
SO	C	-0.8%
NOC	D	-0.77%
AZO	C	-0.77%
VZ	C	-0.76%
IBM	C	-0.73%
WEC	A	-0.68%
EA	A	-0.63%
ORLY	B	-0.62%
REGN	F	-0.61%
GIS	D	-0.61%
K	A	-0.57%
ACGL	C	-0.57%
CBOE	C	-0.54%
APH	A	-0.54%
ORCL	A	-0.54%
LLY	F	-0.52%
ABBV	F	-0.49%
FI	A	-0.48%
CHD	A	-0.46%
HSY	F	-0.44%
MKL	A	-0.43%
ELV	F	-0.42%
WRB	A	-0.41%
L	A	-0.4%
UTHR	C	-0.4%
WCN	A	-0.39%
INCY	C	-0.38%
CHT	C	-0.37%
TJX	A	-0.37%
BAH	F	-0.37%
KDP	F	-0.36%
FFIV	B	-0.36%
VRSN	C	-0.35%
AON	A	-0.35%
KHC	F	-0.33%
AJG	A	-0.33%
TRV	B	-0.32%
TSN	B	-0.32%
JNPR	D	-0.32%
NBIX	C	-0.31%
HUM	C	-0.31%
BRO	B	-0.3%
GEN	B	-0.3%
KMB	C	-0.3%
AKAM	D	-0.27%
SJM	D	-0.27%
T	A	-0.26%
ACN	B	-0.26%
ERIE	D	-0.26%
MDLZ	F	-0.25%
BMY	B	-0.25%
CF	A	-0.25%
CI	D	-0.24%
FCNCA	A	-0.23%
LMT	D	-0.23%
CME	B	-0.23%
HRL	D	-0.23%
PTC	B	-0.22%
BDX	F	-0.22%
CPB	D	-0.22%
CTSH	B	-0.21%
ROL	B	-0.21%
MFG	A	-0.21%
JKHY	D	-0.2%
MA	B	-0.19%
BMRN	F	-0.19%
DPZ	C	-0.19%
CAH	B	-0.18%
LNG	A	-0.16%
ULTA	F	-0.16%
CMS	C	-0.16%
MPC	D	-0.15%
DGX	A	-0.15%
AIZ	A	-0.13%
WIT	B	-0.12%
CTVA	C	-0.12%
MOH	F	-0.12%
FICO	B	-0.12%
MNST	C	-0.12%
AZPN	A	-0.11%
TDY	B	-0.11%
AEE	A	-0.11%
XEL	A	-0.11%
EG	C	-0.1%
WTW	B	-0.1%
XOM	B	-0.1%
WDAY	B	-0.1%
PCG	A	-0.1%
ABT	B	-0.1%
TPL	A	-0.1%
NEM	D	-0.09%
TRGP	A	-0.08%
AEP	C	-0.07%
IT	C	-0.07%
KNX	C	-0.06%
ANET	C	-0.06%
DINO	D	-0.06%
FANG	C	-0.06%
CHRW	B	-0.06%
CAG	F	-0.05%
GPC	D	-0.05%
HOLX	D	-0.05%
ACI	C	-0.05%
KO	D	-0.05%
HSIC	C	-0.05%
HKD	F	-0.0%