USMV vs. FMCX ETF Comparison

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

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

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

Performance

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

18 Overlapping Holdings

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

USMV Overweight 152 Positions Relative to FMCX

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%

USMV Underweight 34 Positions Relative to FMCX

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%