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FMCB vs. IETC
Performance
Return for Risk
Drawdowns
Volatility
Dividends

FMCB vs. IETC

Last updated Jun 24, 2026

FMCB (Farmers & Merchants Bancorp) is a stock, while IETC (iShares U.S. Tech Independence Focused ETF) is Technology Equities fund actively managed by iShares. Over the past 5 years, FMCB returned 10.43%/yr vs 14.77%/yr for IETC. At a 0.02 correlation, their price movements are largely independent.

Performance

FMCB vs. IETC - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Farmers & Merchants Bancorp (FMCB) and iShares U.S. Tech Independence Focused ETF (IETC). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, FMCB achieves a 18.79% return, which is significantly higher than IETC's 3.27% return.

FMCB

1D
0.33%
1M
0.32%
YTD
18.79%
6M
17.33%
1Y
34.20%
3Y*
11.95%
5Y*
10.43%
10Y*
10.32%

IETC

1D
-3.43%
1M
-3.33%
YTD
3.27%
6M
1.39%
1Y
16.71%
3Y*
25.64%
5Y*
14.77%
10Y*
—
*Multi-year figures are annualized to reflect compound growth (CAGR)

FMCB vs. IETC - Yearly Performance Comparison

2026 (YTD)20252024202320222021202020192018
FMCB
Farmers & Merchants Bancorp		18.79%6.83%2.04%2.51%11.29%28.38%1.00%11.65%9.85%
IETC
iShares U.S. Tech Independence Focused ETF		3.27%19.56%37.57%54.35%-32.78%29.73%46.59%43.09%-3.75%

Correlation

The correlation between FMCB and IETC is 0.11, which is low. Their price movements are largely independent, making them effective diversification partners.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

0.11

Correlation (3Y)
Calculated over the trailing 3-year period

0.06

Correlation (5Y)
Calculated over the trailing 5-year period

0.04

Correlation (All Time)
Calculated using the full available price history since Mar 23, 2018

0.02

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

Farmers & Merchants Bancorp

iShares U.S. Tech Independence Focused ETF

Often compared with FMCB:
FMCB vs. FNFFMCB vs. ARCCFMCB vs. SCHDFMCB vs. AGMFMCB vs. CVXFMCB vs. MOFMCB vs. JPM
Often compared with IETC:
IETC vs. IYWIETC vs. VGTIETC vs. IGMIETC vs. ARTYIETC vs. IXNIETC vs. SCHGIETC vs. SPY

Return for Risk

FMCB vs. IETC — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
FMCB
FMCB Risk / Return Rank: 8989
Overall Rank
FMCB Sharpe Ratio Rank: 8787
Sharpe Ratio Rank
FMCB Sortino Ratio Rank: 8888
Sortino Ratio Rank
FMCB Omega Ratio Rank: 8888
Omega Ratio Rank
FMCB Calmar Ratio Rank: 9292
Calmar Ratio Rank
FMCB Martin Ratio Rank: 9191
Martin Ratio Rank
IETC
IETC Risk / Return Rank: 2020
Overall Rank
IETC Sharpe Ratio Rank: 2222
Sharpe Ratio Rank
IETC Sortino Ratio Rank: 2121
Sortino Ratio Rank
IETC Omega Ratio Rank: 2121
Omega Ratio Rank
IETC Calmar Ratio Rank: 1919
Calmar Ratio Rank
IETC Martin Ratio Rank: 1919
Martin Ratio Rank
The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

FMCB vs. IETC - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Farmers & Merchants Bancorp (FMCB) and iShares U.S. Tech Independence Focused ETF (IETC). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

FMCBIETCDifference
Sharpe ratioReturn per unit of total volatility
1.82
0.73

+1.08

Sortino ratioReturn per unit of downside risk
2.89
1.10

+1.78

Omega ratioGain probability vs. loss probability

1.38

1.14

+0.24

Calmar ratioReturn relative to maximum drawdown

4.79

0.79

+4.00

Martin ratioReturn relative to average drawdown

12.40

2.15

+10.25

FMCB vs. IETC - Sharpe Ratio Comparison

The current FMCB Sharpe Ratio is 1.82, which is higher than the IETC Sharpe Ratio of 0.73. The chart below compares the historical Sharpe Ratios of FMCB and IETC, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

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Drawdowns

FMCB vs. IETC - Drawdown Comparison

The maximum FMCB drawdown since its inception was -42.00%, which is greater than IETC's maximum drawdown of -38.48%. Use the drawdown chart below to compare losses from any high point for FMCB and IETC.

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Drawdown Indicators

FMCBIETCDifference

Max Drawdown

Largest peak-to-trough decline

-42.00%

-38.48%

-3.52%

Max Drawdown (1Y)

Largest decline over 1 year

-7.17%

-21.19%

+14.02%

Max Drawdown (3Y)

Largest decline over 3 years

-14.32%

-25.17%

+10.85%

Max Drawdown (5Y)

Largest decline over 5 years

-16.91%

-38.48%

+21.57%

Max Drawdown (10Y)

Largest decline over 10 years

-25.24%

—

—

Current Drawdown

Current decline from peak

-6.30%

-11.36%

+5.06%

Average Drawdown

Average peak-to-trough decline

-9.62%

-8.14%

-1.48%

Ulcer Index

Depth and duration of drawdowns from previous peaks

2.77%

7.79%

-5.02%

Volatility

FMCB vs. IETC - Volatility Comparison

The current volatility for Farmers & Merchants Bancorp (FMCB) is 9.50%, while iShares U.S. Tech Independence Focused ETF (IETC) has a volatility of 11.06%. This indicates that FMCB experiences smaller price fluctuations and is considered to be less risky than IETC based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

FMCBIETCDifference

Volatility (1M)

Calculated over the trailing 1-month period

9.50%

11.06%

-1.56%

Volatility (6M)

Calculated over the trailing 6-month period

14.51%

18.31%

-3.80%

Volatility (1Y)

Calculated over the trailing 1-year period

18.91%

22.86%

-3.95%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

20.85%

24.86%

-4.01%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

20.66%

25.50%

-4.84%

Dividends

FMCB vs. IETC - Dividend Comparison

FMCB's dividend yield for the trailing twelve months is around 1.57%, more than IETC's 0.40% yield.

PositionTTM20252024202320222021202020192018201720162015
FMCB
Farmers & Merchants Bancorp		1.57%1.74%1.71%1.62%1.54%1.59%1.94%1.85%1.99%2.00%2.05%2.39%
IETC
iShares U.S. Tech Independence Focused ETF		0.40%0.38%0.52%0.79%0.92%0.73%0.48%0.95%1.27%0.00%0.00%0.00%

Frequently Asked Questions

FMCB and IETC have a correlation of 0.11, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

IETC has higher volatility (11.06%) compared to FMCB (9.50%). In terms of maximum drawdown, FMCB dropped -42.00% vs IETC's -38.48%.

FMCB currently has the higher Sharpe Ratio (1.82 vs 0.73), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.

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