FMCX vs. USMV ETF Comparison

Comparison of FMC Excelsior Focus Equity ETF (FMCX) to iShares MSCI USA Minimum Volatility ETF (USMV)

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

USMV

iShares MSCI USA Minimum Volatility ETF

USMV Description

The investment seeks the investment results of an index composed of U.S. equities that, in the aggregate, have lower volatility characteristics relative to the broader U.S. equity market. 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. The underlying index follows a rules-based methodology to determine weights for securities in the index that seeks to minimize total risk of the MSCI USA Index. Components primarily include consumer staples, healthcare and information technology companies. The fund is non-diversified.

Grade (RS Rating)

Last Trade

$92.96

Average Daily Volume

1,638,518

Number of Holdings ^*

170

* may have additional holdings in another (foreign) market

Performance

Period	FMCX	USMV
30 Days	0.15%	0.94%
60 Days	2.99%	2.29%
90 Days	6.20%	3.46%
12 Months	25.02%	24.96%

18 Overlapping Holdings

Symbol	Grade	Weight in FMCX	Weight in USMV	Overlap
AAPL	C	6.93%	0.99%	0.99%
AMGN	F	1.11%	0.59%	0.59%
AMZN	C	5.01%	0.14%	0.14%
CL	D	0.85%	0.41%	0.41%
CMCSA	B	1.13%	0.39%	0.39%
FWONK	A	0.21%	0.31%	0.21%
GD	D	0.13%	0.05%	0.05%
GDDY	A	4.98%	1.0%	1.0%
GILD	C	0.87%	0.94%	0.87%
GOOG	C	0.5%	0.16%	0.16%
HON	C	0.6%	0.25%	0.25%
KEYS	A	1.06%	0.55%	0.55%
MCD	D	1.12%	1.25%	1.12%
MSFT	D	4.79%	1.34%	1.34%
PG	C	1.3%	1.23%	1.23%
UNH	B	6.84%	1.34%	1.34%
V	A	0.21%	0.9%	0.21%
YUM	D	1.18%	0.5%	0.5%

FMCX Overweight 34 Positions Relative to USMV

Symbol	Grade	Weight
KKR	A	6.14%
IAC	F	5.35%
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%
VUSB	A	0.92%
ICSH	A	0.92%
MO	A	0.84%
ENTG	D	0.82%
ARWR	D	0.72%
NKE	F	0.68%
DHR	F	0.55%
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 152 Positions Relative to USMV

Symbol	Grade	Weight
TMUS	B	-1.95%
MSI	B	-1.81%
WMT	A	-1.78%
PGR	A	-1.67%
IBM	C	-1.66%
WCN	A	-1.56%
RSG	A	-1.55%
BRK.A	B	-1.55%
DUK	C	-1.49%
CSCO	B	-1.47%
CB	C	-1.47%
APH	A	-1.44%
WM	B	-1.44%
NOC	D	-1.43%
TXN	C	-1.39%
VZ	C	-1.35%
SO	C	-1.35%
MCK	A	-1.35%
ORCL	A	-1.31%
ROP	B	-1.3%
ACN	B	-1.29%
AJG	A	-1.27%
LLY	F	-1.25%
AVGO	D	-1.19%
JNJ	C	-1.18%
TRV	B	-1.15%
ED	C	-1.13%
MMC	B	-1.11%
ABBV	F	-1.04%
MRK	D	-1.01%
PEP	F	-1.01%
AZO	C	-0.98%
EA	A	-0.89%
FCNCA	A	-0.88%
CBOE	C	-0.85%
LMT	D	-0.82%
K	A	-0.8%
WEC	A	-0.78%
CTSH	B	-0.76%
NOW	A	-0.75%
T	A	-0.74%
TSN	B	-0.71%
MA	B	-0.7%
VRTX	D	-0.69%
FI	A	-0.69%
ORLY	B	-0.68%
ACGL	C	-0.68%
COR	B	-0.67%
NVDA	B	-0.67%
GIS	D	-0.66%
VRSN	C	-0.64%
KR	B	-0.61%
FICO	B	-0.59%
REGN	F	-0.59%
KDP	F	-0.59%
TDY	B	-0.57%
BDX	F	-0.56%
FANG	C	-0.55%
FFIV	B	-0.55%
MPC	D	-0.54%
INCY	C	-0.53%
AON	A	-0.53%
CME	B	-0.53%
PTC	B	-0.52%
ELV	F	-0.52%
BMY	B	-0.49%
XEL	A	-0.46%
NEM	D	-0.46%
UBER	F	-0.45%
JNPR	D	-0.45%
TJX	A	-0.45%
XOM	B	-0.45%
MDLZ	F	-0.44%
WDAY	B	-0.43%
EG	C	-0.43%
ERIE	D	-0.42%
VRSK	A	-0.42%
CHD	A	-0.4%
HUM	C	-0.4%
BAH	F	-0.39%
AEP	C	-0.39%
AKAM	D	-0.39%
KHC	F	-0.38%
WTW	B	-0.38%
CTVA	C	-0.38%
ROL	B	-0.36%
IT	C	-0.35%
AFG	A	-0.35%
GEN	B	-0.35%
CDW	F	-0.35%
CVX	A	-0.34%
MKL	A	-0.34%
GRMN	B	-0.33%
CPB	D	-0.33%
AIZ	A	-0.32%
NBIX	C	-0.32%
WMB	A	-0.31%
WRB	A	-0.31%
GLW	B	-0.31%
HSY	F	-0.3%
HD	B	-0.3%
ANET	C	-0.29%
ICE	C	-0.28%
L	A	-0.28%
AEE	A	-0.24%
HUBS	A	-0.24%
ADI	D	-0.23%
D	C	-0.23%
AZPN	A	-0.23%
ALNY	D	-0.22%
NTAP	C	-0.22%
BMRN	F	-0.22%
HRL	D	-0.21%
CI	D	-0.21%
KMB	C	-0.21%
TW	A	-0.2%
DTE	C	-0.2%
PKG	A	-0.2%
PFE	F	-0.2%
DPZ	C	-0.19%
CRWD	B	-0.19%
CMS	C	-0.19%
CDNS	B	-0.18%
MELI	C	-0.18%
MOH	F	-0.18%
SNPS	B	-0.18%
EOG	A	-0.17%
HOLX	D	-0.16%
LIN	C	-0.16%
STX	C	-0.16%
UTHR	C	-0.14%
MDT	D	-0.13%
DELL	B	-0.12%
HIG	B	-0.12%
OXY	D	-0.12%
DGX	A	-0.11%
KO	D	-0.1%
LNT	A	-0.1%
RTX	D	-0.09%
ADP	A	-0.09%
ABT	B	-0.09%
OTIS	C	-0.07%
TEL	B	-0.07%
ATO	A	-0.06%
PSX	C	-0.06%
FSLR	F	-0.06%
KNX	C	-0.06%
VLO	C	-0.05%
BR	A	-0.05%
CRM	B	-0.05%
ULTA	F	-0.04%
CVS	D	-0.04%