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Launched · SEC filings

First Eagle Mid Cap Equity ETF

FEMDNYSE ArcaD

$34.460.00 (0.00%)

As of Oct 13, 2026, 9:46 AM

D26/ 100

Rank 56 of 66 in US Active Value

D26/100Rank 56 of 66inUS Active Value
Intraday session: flat, 1 prints from 34.46 to 34.46. Range 34.46 to 34.46. Use the arrow keys to read each point.33.5034.0035.0010 AM12 PM2 PM4 PM
Expense ratio
0.75%
Fund size
$4M
1Y total return
—
Yield · Last 12 months
—
Holdings
64
Avg volume · 30D
0M sh
NAV per share
$34.47
52W range
low $32.43high $38.40
Launched
Filings
SEC EDGAR

The ETF.net FEMD Grade

Based on 5 of 6 pillars

D

Score 26 out of 100

Category
US Active Value⁠
Rank
56 of 66
Six-pillar profile for FEMD. Scores out of 100: Cost 18, Risk 6, Mission not scored, Tradability 27, Holdings 79, Durability 32. Strongest: Holdings (79). Weakest: Risk (6). Based on 5 of 6 pillars.

Score 26 of 100 falls in the D band. A is 70 or higher, B 55 to under 70, C 40 to under 55, D 25 to under 40, F under 25.

Very small fund, grade capped at C.

The cap holds the Score at 40 or below, so B and A are out of reach.

The pillars earned
27
This cap took
−0
Published Score
26 Grade D

  • Cost

    The fund’s net expense ratio, ranked against its category.
    F18 out of 100
    Rank 52 of 66

  • Mission

    Whether the fund did what it promised, tested against its stated mandate.
    Not scored

  • Risk

    How the fund held up when markets fell: downside volatility, drawdowns and tail loss.
    F6 out of 100
    Rank 61 of 63

  • Tradability

    How easy the fund is to trade: daily volume, and how far its price strays from net asset value.
    D27 out of 100
    Rank 56 of 66

  • Holdings

    How concentrated the fund is, and how complete and current its disclosed holdings are.
    A79 out of 100
    Rank 10 of 66

  • Durability

    Whether the fund is likely to stay open, judged by its age, its assets and its issuer’s assets.
    D32 out of 100
    Rank 56 of 66

Our read on FEMD

ETF.net Research

DFirst Eagle takes its value discipline down the market cap ladder: an active mid-cap fund hunting companies whose problems look temporary or fixable, with a visible catalyst attached. Stock picking, not a cheapness screen. It launched in 2026.

Stated mandate

The fund seeks long-term growth of capital and uses a bottom-up fundamental process for U.S. mid-cap companies, focusing on transitory or fixable issues and identifiable catalysts.

Why people hold it

  1. 01The process is judgment, not a filter: bottom-up work on U.S. mid caps with transitory or fixable issues and an identifiable catalyst, marketed as Catalyst-Driven Value.firsteagle.com
  2. 020.55% buys active management and sits right at the median for its active value peer group, so the First Eagle name carries no premium.
  3. 03Mid cap is the whole mandate, not a tilt. It measures itself against the Russell Mid Cap Value and Russell Mid Cap indexes rather than a large-cap yardstick.firsteagle.com

Worth knowing

  1. 01Systematic routes to the same asset class cost less: Avantis' AVMV charges 0.20% for rules-based U.S. mid-cap value.
  2. 02A 2026 launch with a small asset base. There is no long record to judge, and young, thinly traded funds can show wider spreads, so limit orders earn their keep.
  3. 03The stated goal is long-term growth of capital. Income is not part of the design.

FEMD Holdings

As of Oct 12, 2026
Asset class
Stocks
Holdings
64
Top-10 weight
23%
Largest holding
THC3.0%

Geography

  • United States93.51%
  • Canada3.60%
  • Cayman Islands1.60%
  • Hong Kong1.29%
The fund’s holdings, weight-ordered — page 1 of 5.
#TickerCompanyWeight %SharesMarket valueIn ETFs
001THCTenet Healthcare Corp Common Stock USD 0.053.00%431$114K218
002PSXPhillips 66 Common Stock USD2.54%346$96K379
003GEHCGe Healthcare Technologies Inc Common Stock USD2.44%1,403$92K308
004TRGPTarga Resources Corp Common Stock USD 0.0012.36%312$89K352
005CAHCardinal Health Inc Common Stock USD 02.17%346$82K368
006SNSharkninja Inc Common Stock2.15%440$81K177
007WDAYWorkday Inc Common Stock USD 0.0012.10%427$80K394
008VOYAVoya Financial Inc Common Stock USD 0.012.09%836$79K160
009TDCTeradata Corp Common Stock USD 0.012.08%2,569$79K150
010GBCIGlacier Bancorp Inc Common Stock USD 0.012.06%1,824$78K118
011PRPermian Resources2.05%3,374$78K206
012DGXQuest Diagnostics Inc Common Stock USD 0.012.02%331$76K302
013STESteris PLC Common Stock USD 751.99%352$75K267
014TDYTeledyne Technologies Inc Common Stock USD 0.011.96%121$74K265
015OKEOneok Inc Common Stock USD 0.011.94%819$74K326

Showing 1–15 of 64 holdings

FEMD Performance

Launched Jan 27, 2026

Shows how $10,000 changes over the selected period, with cash distributions reinvested at the closing price on each ex-dividend date.

Not enough history yet.Not enough history yet.Not enough history yet.Not enough history yet.Not enough history yet.
FEMD$9,451
SPY tracks large US stocks. It provides market context, rather than representing this fund’s strategy, asset class or investment benchmark.$10,332
Jul 10, 2026 to Oct 12, 2026. FEMD $9,451. SPY $10,332. Use the arrow keys to read each point.$9,205$9,818$10,430Jul 2026Aug 2026Oct 2026

Jul 10, 2026 – Oct 12, 2026

Returns run to the Oct 12, 2026 close, with cash distributions reinvested. Each period starts on the same date that many months or years earlier. Periods over one year show the average yearly return.

Trailing total return for FEMD. Periods over one year show the average yearly return.
PeriodFEMD
Year to dateFund launched this year—
1 month−2.4%
3 months−5.5%
1 yearFund is under 1 year old—
3 yearsFund is under 3 years oldper year—
5 yearsFund is under 5 years oldper year—
10 yearsFund is under 10 years oldper year—

As of the close, with distributions reinvested.

Calendar-year total return with cash distributions hypothetically reinvested at the ex-dividend date’s closing price. The current year shows year to date.

Annual total returns for FEMD
YearReturn barFEMD
2026 YTD−1.3%

History from Jan 28, 2026

FEMD in the news

Filtered to FEMD · US Active Value

FEMD Dividends

Adds up every distribution paid per share over the last 12 months, divided by the last completed close. Distributions are counted by ex-date. Data through Oct 12, 2026.
—Last 12 months
Payout per share
—Last 12 months

Listed Jan 2026. No distributions yet.

FEMD Risk

How much the fund’s monthly returns vary, scaled to a year.
—
Launched Jan 2026; fills in after 12 months
How it’s calculated: standard deviation

The sample standard deviation of monthly total returns, multiplied by the square root of 12.

Uses up to 36 complete months, with at least 12 required. Total returns include reinvested distributions.

Return above 3-month US Treasury bills per unit of volatility.
—
Launched Jan 2026; fills in after 12 months
How it’s calculated: Sharpe ratio

Subtract each month’s Treasury-bill return from the fund’s monthly total return.

Divide the average of those excess returns by their sample standard deviation, then multiply by the square root of 12.

Uses up to 36 complete months, with at least 12 required. Each month uses the Treasury yield quoted at the end of the previous month.

The largest fall from a peak to the low that followed.
—
Launched Jan 2026; fills in after 12 months
How it’s calculated: maximum drawdown

The largest percentage decline from an earlier peak, using total returns with reinvested distributions.

Uses up to five years through the last close, with at least 12 months required.

How strongly the fund’s returns move with its asset-class index.
0.75
vs its asset-class index
How it’s calculated: beta

The beta figure is supplied by FMP. The comparison index depends on the fund’s broad asset class.

FEMD Cost

Expense ratio0.75%
  • The middle half of US Active Value funds
  • Median 0.55%

51 of the 66 US Active Value funds charge less.

FEMD costs $75.00 a year on $10,000. The median US Active Value fund costs $55.00.

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