FMCX vs. MGC

Last updated Apr 2, 2026

Compare and contrast key facts about FMC Excelsior Focus Equity ETF (FMCX) and Vanguard Mega Cap ETF (MGC).

FMCX and MGC are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. FMCX is an actively managed fund by First Manhattan. It was launched on Apr 22, 2022. MGC is a passively managed fund by Vanguard that tracks the performance of the CRSP US Mega Cap Index. It was launched on Dec 17, 2007.

Performance

FMCX vs. MGC - Performance Comparison

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

FMCX vs. MGC - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
FMCX FMC Excelsior Focus Equity ETF	-6.01%	11.31%	19.10%	21.94%	-11.16%
MGC Vanguard Mega Cap ETF	-4.86%	19.31%	27.16%	29.77%	-10.54%

Returns By Period

In the year-to-date period, FMCX achieves a -6.01% return, which is significantly lower than MGC's -4.86% return.

FMCX

• 1D: 0.89%
• 1M: -4.69%
• YTD: -6.01%
• 6M: -8.33%
• 1Y: 8.50%
• 3Y*: 13.02%
• 5Y*: —
• 10Y*: —

MGC

• 1D: 0.81%
• 1M: -4.09%
• YTD: -4.86%
• 6M: -2.26%
• 1Y: 18.99%
• 3Y*: 19.96%
• 5Y*: 12.41%
• 10Y*: 14.78%

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

FMCX vs. MGC - Expense Ratio Comparison

FMCX has a 0.70% expense ratio, which is higher than MGC's 0.05% expense ratio.

FMCX

FMC Excelsior Focus Equity ETF

MGC

Vanguard Mega Cap ETF

Return for Risk

FMCX vs. MGC — Risk / Return Rank

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

FMCX

FMCX Risk / Return Rank: 27
FMCX Sharpe Ratio Rank: 28
FMCX Sortino Ratio Rank: 26
FMCX Omega Ratio Rank: 27
FMCX Calmar Ratio Rank: 27
FMCX Martin Ratio Rank: 27

MGC

MGC Risk / Return Rank: 61
MGC Sharpe Ratio Rank: 55
MGC Sortino Ratio Rank: 59
MGC Omega Ratio Rank: 61
MGC Calmar Ratio Rank: 62
MGC Martin Ratio Rank: 68

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. MGC - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for FMC Excelsior Focus Equity ETF (FMCX) and Vanguard Mega Cap ETF (MGC). 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	MGC	Difference
Sharpe ratio Return per unit of total volatility	0.55	1.01	-0.46
Sortino ratio Return per unit of downside risk	0.83	1.56	-0.73
Omega ratio Gain probability vs. loss probability	1.12	1.23	-0.12
Calmar ratio Return relative to maximum drawdown	0.73	1.64	-0.91
Martin ratio Return relative to average drawdown	2.45	7.19	-4.74
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. MGC - Sharpe Ratio Comparison

The current FMCX Sharpe Ratio is 0.55, which is lower than the MGC Sharpe Ratio of 1.01. The chart below compares the historical Sharpe Ratios of FMCX and MGC, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	FMCX	MGC	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.55	1.01	-0.46
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.72	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.82	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.49	0.56	-0.07

Correlation

The correlation between FMCX and MGC is 0.89, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.

Dividends

FMCX vs. MGC - Dividend Comparison

FMCX's dividend yield for the trailing twelve months is around 0.37%, less than MGC's 1.01% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FMCX FMC Excelsior Focus Equity ETF	0.37%	0.35%	2.12%	1.34%	1.19%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
MGC Vanguard Mega Cap ETF	1.01%	0.93%	1.15%	1.35%	1.65%	1.17%	1.45%	1.81%	2.10%	1.83%	2.14%	2.11%

Drawdowns

FMCX vs. MGC - Drawdown Comparison

The maximum FMCX drawdown since its inception was -17.70%, smaller than the maximum MGC drawdown of -51.93%. Use the drawdown chart below to compare losses from any high point for FMCX and MGC.

Drawdown Indicators

	FMCX	MGC	Difference
Max Drawdown Largest peak-to-trough decline	-17.70%	-51.93%	+34.23%
Max Drawdown (1Y) Largest decline over 1 year	-12.59%	-11.93%	-0.66%
Max Drawdown (5Y) Largest decline over 5 years	—	-25.74%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-33.07%	—
Current Drawdown Current decline from peak	-9.63%	-6.33%	-3.30%
Average Drawdown Average peak-to-trough decline	-4.39%	-7.12%	+2.73%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.74%	2.72%	+1.02%

Volatility

FMCX vs. MGC - Volatility Comparison

The current volatility for FMC Excelsior Focus Equity ETF (FMCX) is 5.26%, while Vanguard Mega Cap ETF (MGC) has a volatility of 5.54%. This indicates that FMCX experiences smaller price fluctuations and is considered to be less risky than MGC based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FMCX	MGC	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.26%	5.54%	-0.28%
Volatility (6M) Calculated over the trailing 6-month period	9.99%	9.86%	+0.13%
Volatility (1Y) Calculated over the trailing 1-year period	15.40%	18.80%	-3.40%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.29%	17.26%	-0.97%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.29%	18.19%	-1.90%