FMCX vs. AVIE

Last updated Jun 4, 2026

FMCX (FMC Excelsior Focus Equity ETF) and AVIE (Avantis Inflation Focused Equity ETF) are both Large Cap Blend Equities funds. Both are actively managed. Over the past 3 years, FMCX returned 16.25%/yr vs 13.07%/yr for AVIE. A 0.50 correlation means they provide meaningful diversification when combined. FMCX charges 0.70%/yr vs 0.25%/yr for AVIE.

Performance

FMCX vs. AVIE - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in FMC Excelsior Focus Equity ETF (FMCX) and Avantis Inflation Focused Equity ETF (AVIE). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FMCX achieves a 6.51% return, which is significantly lower than AVIE's 12.80% return.

FMCX

• 1D: -0.71%
• 1M: 2.47%
• YTD: 6.51%
• 6M: 4.99%
• 1Y: 16.25%
• 3Y*: 16.25%
• 5Y*: —
• 10Y*: —

AVIE

• 1D: 0.43%
• 1M: 0.22%
• YTD: 12.80%
• 6M: 12.98%
• 1Y: 23.46%
• 3Y*: 13.07%
• 5Y*: —
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

FMCX vs. AVIE - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
FMCX FMC Excelsior Focus Equity ETF	6.51%	11.31%	19.10%	21.94%	4.59%
AVIE Avantis Inflation Focused Equity ETF	12.80%	11.37%	6.17%	4.19%	14.70%

Correlation

The correlation between FMCX and AVIE is 0.24, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.24
Correlation (3Y) Calculated over the trailing 3-year period	0.44
Correlation (All Time) Calculated using the full available price history since Sep 30, 2022	0.50

Over the past year, the correlation between FMCX and AVIE has dropped to 0.24 - well below their long-term average of 0.50, suggesting their price drivers have been diverging.

FMCX vs. AVIE - Sectors Allocation Comparison

Sectors	FMCX	AVIE
Technology	31.2%	0.1%
Industrials	21.3%	1.1%
Consumer Cyclical	15.5%	0.1%
Financial Services	13.6%	15.0%
Healthcare	9.3%	26.3%
Communication Services	5.3%	-
Basic Materials	3.8%	9.8%
Consumer Defensive	-	17.1%
Energy	-	30.1%
Real Estate	-	0.1%
Utilities	-	0.1%

Return for Risk

FMCX vs. AVIE — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

FMCX

FMCX Risk / Return Rank: 33
FMCX Sharpe Ratio Rank: 35
FMCX Sortino Ratio Rank: 36
FMCX Omega Ratio Rank: 35
FMCX Calmar Ratio Rank: 28
FMCX Martin Ratio Rank: 31

AVIE

AVIE Risk / Return Rank: 76
AVIE Sharpe Ratio Rank: 73
AVIE Sortino Ratio Rank: 76
AVIE Omega Ratio Rank: 70
AVIE Calmar Ratio Rank: 86
AVIE Martin Ratio Rank: 76

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.

FMCX vs. AVIE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for FMC Excelsior Focus Equity ETF (FMCX) and Avantis Inflation Focused Equity ETF (AVIE). 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.

	FMCX	AVIE	Difference
Sharpe ratio Return per unit of total volatility	1.27	2.39	-1.12
Sortino ratio Return per unit of downside risk	1.87	3.44	-1.57
Omega ratio Gain probability vs. loss probability	1.23	1.42	-0.20
Calmar ratio Return relative to maximum drawdown	1.30	4.74	-3.45
Martin ratio Return relative to average drawdown	4.54	14.57	-10.02
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

FMCX vs. AVIE - Sharpe Ratio Comparison

The current FMCX Sharpe Ratio is 1.27, which is lower than the AVIE Sharpe Ratio of 2.39. The chart below compares the historical Sharpe Ratios of FMCX and AVIE, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	FMCX	AVIE	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.27	2.39	-1.12
Sharpe Ratio (All Time) Calculated using the full available price history	0.68	1.05	-0.38

Drawdowns

FMCX vs. AVIE - Drawdown Comparison

The maximum FMCX drawdown since its inception was -17.70%, which is greater than AVIE's maximum drawdown of -12.39%. Use the drawdown chart below to compare losses from any high point for FMCX and AVIE.

Drawdown Indicators

	FMCX	AVIE	Difference
Max Drawdown Largest peak-to-trough decline	-17.70%	-12.39%	-5.31%
Max Drawdown (1Y) Largest decline over 1 year	-12.59%	-4.97%	-7.62%
Max Drawdown (3Y) Largest decline over 3 years	-17.70%	-12.39%	-5.31%
Current Drawdown Current decline from peak	-1.17%	-1.36%	+0.19%
Average Drawdown Average peak-to-trough decline	-4.29%	-3.03%	-1.26%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.59%	1.62%	+1.97%

Volatility

FMCX vs. AVIE - Volatility Comparison

FMC Excelsior Focus Equity ETF (FMCX) has a higher volatility of 3.70% compared to Avantis Inflation Focused Equity ETF (AVIE) at 3.06%. This indicates that FMCX's price experiences larger fluctuations and is considered to be riskier than AVIE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FMCX	AVIE	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.70%	3.06%	+0.64%
Volatility (6M) Calculated over the trailing 6-month period	10.56%	7.19%	+3.37%
Volatility (1Y) Calculated over the trailing 1-year period	12.91%	9.88%	+3.03%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.24%	12.94%	+3.30%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.24%	12.94%	+3.30%

FMCX vs. AVIE - Expense Ratio Comparison

FMCX has a 0.70% expense ratio, which is higher than AVIE's 0.25% expense ratio.

Dividends

FMCX vs. AVIE - Dividend Comparison

FMCX's dividend yield for the trailing twelve months is around 0.33%, less than AVIE's 1.45% yield.

Position	TTM	2025	2024	2023	2022
AVIE Avantis Inflation Focused Equity ETF	1.45%	1.75%	1.89%	3.72%	0.39%
FMCX FMC Excelsior Focus Equity ETF	0.33%	0.35%	2.12%	1.34%	1.19%

Frequently Asked Questions

Can I hold both FMCX and AVIE in my portfolio?

FMCX and AVIE have a correlation of 0.24, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FMCX or AVIE?

FMCX has higher volatility (3.70%) compared to AVIE (3.06%). In terms of maximum drawdown, FMCX dropped -17.70% vs AVIE's -12.39%.

Which ETF is better, FMCX or AVIE?

On 3-year performance, FMCX leads with 16.25% vs 13.07% for AVIE. On fees, AVIE is cheaper at 0.25% per year. On volatility, AVIE has been the lower-risk option at 3.06%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, FMCX or AVIE?

Over the 3-year period, FMCX has performed better with a 16.25% return vs 13.07%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, FMCX or AVIE?

AVIE is cheaper with a 0.25% expense ratio, compared with 0.70% for FMCX.

Which ETF pays a higher dividend yield, FMCX or AVIE?

AVIE has the higher dividend yield at 1.45%, compared with 0.33% for FMCX.

What is the main difference between FMCX and AVIE?

They also come from different issuers: First Manhattan and Avantis. Their fees differ too: 0.70% for FMCX and 0.25% for AVIE.

Which has better risk-adjusted returns?

AVIE currently has the higher Sharpe Ratio (2.39 vs 1.27), 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.