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Launched · SEC filings

FMQQ The Next Frontier Internet ETF

FMQQNYSE ArcaD

$12.53−0.02 (−0.17%)

As of Oct 13, 2026, 3:54 PM

D27/ 100

Rank 10 of 10 in E-Commerce

D27/100Rank 10 of 10inE-Commerce
Intraday session: down, 26 prints from 12.55 to 12.53. Range 12.53 to 12.66. Use the arrow keys to read each point.12.5712.6012.6312.6510 AM12 PM2 PM4 PM
Expense ratio
0.86%
Fund size
$20M
1Y total return
−13.9%
Yield · Last 12 months
0.67%
Holdings
37
Avg volume · 30D
0M sh
NAV per share
$12.57
52W range
low $10.78high $15.15
Launched
Filings
SEC EDGAR

The ETF.net FMQQ Grade

Based on 5 of 6 pillars

D

Score 27 out of 100

Category
E-Commerce⁠
Rank
10 of 10
Six-pillar profile for FMQQ. Scores out of 100: Cost 10, Risk 51, Mission not scored, Tradability 28, Holdings 40, Durability 38. Strongest: Risk (51). Weakest: Cost (10). Based on 5 of 6 pillars.

Score 27 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.

  • Cost

    The fund’s net expense ratio, ranked against its category.
    F10 out of 100
    Rank 9 of 10

  • 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.
    C51 out of 100
    Rank 6 of 10

  • Tradability

    How easy the fund is to trade: daily volume, and how far its price strays from net asset value.
    D28 out of 100
    Rank 9 of 10

  • Holdings

    How concentrated the fund is, and how complete and current its disclosed holdings are.
    C40 out of 100
    Rank 8 of 10

  • Durability

    Whether the fund is likely to stay open, judged by its age, its assets and its issuer’s assets.
    D38 out of 100
    Rank 9 of 10

Our read on FMQQ

ETF.net Research

DMost e-commerce ETFs stick to familiar markets. FMQQ points the other way: a passive basket of roughly 50 internet and online-commerce companies drawn from emerging and frontier markets, launched in 2021.

Stated mandate

The Fund seeks to track, before fees and expenses, the price and yield performance of the FMQQ The Next Frontier Internet & Ecommerce Index.

Why people hold it

  1. 01A different map. The index reaches into emerging and frontier markets for internet and e-commerce businesses instead of the usual developed-market roster.
  2. 02Rules-based, not gut-based: it passively tracks the FMQQ The Next Frontier Internet & Ecommerce Index, so the lineup follows published index rules.
  3. 03Roughly 50 stocks, so the theme comes through undiluted rather than spread thin across hundreds of names.

Worth knowing

  1. 01Costs more than the neighborhood: 0.86% a year, against a 0.65% cohort median and cheaper builds like EBIZ at 0.50% and OGIG at 0.48%.
  2. 02Small fund, light volume. Spreads can run wider here than in the category's heavyweights, which makes limit orders the sane default.
  3. 03Frontier and emerging listings layer currency moves, local regulation and thinner disclosure onto an already narrow single-theme basket.

FMQQ Holdings

As of Oct 12, 2026
Asset class
Stocks
Holdings
37
Top-10 weight
61%
Largest holding
MELI7.8%

Sectors

  • Consumer Discretionary40.1%
  • Financials26.8%
  • Technology15.8%
  • Communication7.4%
  • Energy7.0%
  • Health Care3.0%

Geography

  • India37.19%
  • Singapore12.04%
  • Uruguay9.54%
  • Brazil9.31%
  • Cayman Islands9.23%
  • Luxembourg6.37%
  • Korea (the Republic of)5.51%
  • Kazakhstan5.00%
  • Other countries (3)5.82%

Developed 21% · Emerging 79% of the foreign sleeve

The fund’s holdings, weight-ordered — page 1 of 3.
#TickerCompanyWeight %SharesMarket valueIn ETFs
001MELIMercadolibre Inc7.82%845$2M222
002NUNu Holdings Ltd7.47%94,612$2M156
003XPXp Inc6.92%43,848$1M100
004SESea Ltd6.89%14,778$1M137
005RELIANCE.NSReliance Industries Ltd Ord6.51%109,936$1M56
006—Bajaj Finance Ltd5.83%119,940$1M4
007ALE.WAAllegro.eu SA5.64%87,304$1M93
008ETERNAL.NSEternal Ltd5.34%326,048$1M59
009KSPIKaspi.kz Jsc Sponsored Ads4.33%9,514$885K20
010GRABGrab Holdings Ltd - Class A3.79%242,942$775K79
011JIOFIN.NSJio Financial Services Ltd3.67%337,916$750K43
012PAYTM.NSOne 97 Communications Ltd2.92%35,219$596K46
013LENSKART.NSLenskart Solutions Ltd2.85%82,967$581K32
014CPNGCoupang Inc2.78%35,885$568K125
015035420.KSNaver Corp2.65%3,959$542K108

Showing 1–15 of 37 holdings

FMQQ Performance

Launched Sep 27, 2021

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.
FMQQ$8,611
SPY tracks large US stocks. It provides market context, rather than representing this fund’s strategy, asset class or investment benchmark.$12,044
Oct 10, 2025 to Oct 12, 2026. FMQQ $8,611. SPY $12,044. Use the arrow keys to read each point.$7,124$9,774$12,425Oct 2025Apr 2026Oct 2026

Oct 10, 2025 – 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 FMQQ. Periods over one year show the average yearly return.
PeriodFMQQ
Year to date−9.2%
1 month−0.3%
3 months+1.8%
1 year−13.9%
3 yearsper year+7.3%
5 yearsper year−12.2%
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 FMQQ
YearReturn barFMQQ
2026 YTD−9.2%
2025+10.8%
2024+12.4%
2023+15.2%
2022−54.0%
2021−15.2%

History from Sep 28, 2021

FMQQ in the news

Filtered to FMQQ · E-Commerce

FMQQ 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.
0.67%Last 12 months
Payout per share
$0.08Last 12 months
Last payment
$0.08 per share
Paid on
Shares bought on or after this date do not qualify for this distribution.
Frequency
Annual

Distribution history

2023–2026

One bar per payment. 3 payments from 2023 to 2026 YTD. Dec 26, 2023 $0.01; Dec 30, 2024 $0.06; Dec 30, 2025 $0.08. Use the arrow keys to read each point.2023202420252026YTD
Ex-datePay dateAmount per share
Dec 30, 2025Dec 31, 2025$0.08
Dec 30, 2024Dec 31, 2024$0.06
Dec 26, 2023Dec 29, 2023$0.01

FMQQ Risk

How much the fund’s monthly returns vary, scaled to a year.
17.2%
Annualised · 36 months to Sep 2026
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.
0.10
vs 3-month T-bills · to Sep 2026
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.
−64.5%
Trough Oct 2022
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.
0.87
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.

FMQQ Cost

Expense ratio0.86%
  • The middle half of E-Commerce funds
  • Median 0.63%

8 of the 10 E-Commerce funds charge less.

FMQQ costs $86.00 a year on $10,000. The median E-Commerce fund costs $62.50.

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