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AQEC vs FMCE

AQE Core ETF

AQECBCboe

FM Compounders Equity ETF

FMCEDNYSE Arca

Overlap

23.1%by weight

Expense ratio

AQEC −0.22pt a year

AQEC0.49%FMCE0.71%

Avg volume · 30D

AQEC 122.0×the volume

AQEC24.8KFMCE203

AQEC vs FMCE Performance

Dec 31, 2025 – Oct 30, 2026

+1.2%AQEC+9.2%FMCE

Dec 31, 2025 to Oct 30, 2026. AQEC +1.2%. FMCE +9.2%. Use the arrow keys to read each point.−10%−5%5%Dec 2025Jun 2026Oct 2026
Expense ratio
AQEC 0.49%, better
FMCE 0.71%
Fund size
AQEC $602M
FMCE $69M
1Y total return
AQEC No data
FMCE +9.8%
Yield (12M)
AQEC No data
FMCE 2.83%
Holdings
AQEC 134
FMCE 31
Avg volume (30D)
AQEC 24.8K sh, better
FMCE 203 sh
NAV per share
AQEC $25.92
FMCE $28.59
52W range

ETF.net Grade

AQEC: Cost 75, Risk 40, Mission not scored, Tradability 67, Holdings 85, Durability 57. FMCE: Cost 38, Risk 68, Mission not scored, Tradability 4, Holdings 44, Durability 58.
Pillar letters and Scores for AQEC, FMCE, with each pillar’s weight
PillarAQECFMCE
Cost30% weightA75HigherD38
Mission25% weightNot scoredNot scored
Risk15% weightC40B68Higher
Tradability15% weightB67HigherF4
Holdings10% weightA85HigherC44
Durability5% weightB57B58Higher

Rank among US Active Quality funds

How we build Categories ›
Same Category. Both funds are graded against the same funds, so their Grades compare head to head.

Same Category. AQEC and FMCE are both graded against the same 16 US Active Quality funds, so their Grades compare head to head.

US Active Quality⁠

Category · 16 funds
See all 16 ›

AQEC ranks 3rd and FMCE 10th of 16 funds in the US Active Quality Category.

  1. Rank 1ANPFENpf Core Equity EtfScore 79
  2. Rank 2AQLTYGMO US Quality ETFScore 75
  3. Rank 3BAQECAQE Core ETFScore 66
  4. Rank 4BQIDXIndexperts Quality Earnings Focused ETFScore 64
  5. Rank 9CEQTYKovitz Core Equity ETFScore 47
  6. Rank 10DFMCEFM Compounders Equity ETFScore 39
  7. Rank 11DBWTGBrendan Wood TopGun ETFScore 34

Our read on each fund

ETF.net Research

AQECBAQE Core ETF

FMCEDFM Compounders Equity ETF

In short

AQEC No data

FMCE The house stock strategy of First Manhattan, the New York firm Sandy Gottesman founded in 1964, in an ETF wrapper: 25 to 35 US companies picked for durable free cash flow. Concentrated by design, 0.71% with no fee waiver.

Stated mandate

AQEC No data

FMCE The Fund seeks long-term capital appreciation.

Why people hold it

AQEC No data

  • FMCE First Manhattan, founded in 1964 by early Berkshire Hathaway investor and board member Sandy Gottesman, spent six decades running private-client money before putting this strategy in an ETF.wikipedia.orgwikipedia.org 2
  • A genuine 25 to 35 stock portfolio, not a broad index wearing a quality label. Each name has to earn its slot.yahoo.com
  • The mandate is plain: US common stocks, chosen for moats and free cash flow, held for long-term capital appreciation. That is the whole compounders idea in the name.

Worth knowing

AQEC No data

  • FMCE 0.71% with no fee waiver sits above the category median (16 funds priced), and quality peers undercut it: PSET at 0.15%, QLTY at 0.50%.
  • Non-diversified and tightly held. With a few dozen names, one stumble lands harder here than in a broad-market fund.yahoo.com
  • Launched November 2024, so the track record is thin, it remains a smaller fund, and it trades lightly, which can mean wider spreads.

Full AQEC profile⁠

Full FMCE profile⁠

AQEC vs FMCE Holdings

How AQEC and FMCE differ

Overlap by weight

23.1%

Shared holdings make up 66.2% of FMCE and 30.0% of AQEC.

Level by level

  • Holdings23 in both23.1%
  • Countryby domicile93.6%
  • Asset classEquity100%

Sector

No Sector split for FMCE.

Country, concentration and asset class

Country by domicile

Country weights in AQEC and FMCE, widest gap first
CountryMore in AQECMore in FMCE
United KingdomAQEC +4.2 points
United StatesFMCE +3.5 points
NetherlandsFMCE +1.8 points
SwitzerlandAQEC +1.6 points
JapanFMCE +1.1 points
DenmarkAQEC +0.6 points

Concentration

Weight in the 10 largest Holdings

  • AQEC36.2%
  • FMCE57.3%

Securities held

  • AQEC133
  • FMCE30

Asset class

AQEC
Equity
FMCE
Equity

Holdings

  • Only in AQEC110
  • In both23
  • Only in FMCE7

Only in AQEC

110 securities, 69.9% of AQEC by weight

  • Apple Inc7.77%
  • Alphabet Inc2.77%
  • Alphabet Inc1.75%

Only in FMCE

7 securities, 18.1% of FMCE by weight

  • KKR & Co. Inc.5.81%
  • Phillips 663.15%
  • The Progressive Corporation2.45%

Weight gaps

All 23 Holdings in both funds, largest gap first.

Holding weights in AQEC and FMCE, widest gap first
HoldingMore in AQECMore in FMCE
NVIDIA CorpNVDAAQEC +6.12 points
Ge AerospaceGEFMCE +4.07 points
Intel CorpINTCFMCE +3.81 points
Thermo Fisher Scientific IncTMOFMCE +3.72 points
Honeywell Aerospace IncHONAFMCE +3.14 points
Visa IncVFMCE +3.10 points
Uber Technologies IncUBERFMCE +2.87 points
Booking Holdings IncBKNGFMCE +2.60 points

All 134 AQEC holdings⁠All FMCE holdings⁠

How we measure overlap

Each holding counts at its smaller weight in the two funds, summed over the full Holdings. Sector, country and asset class use the same rule on each fund’s split. Cash, FX and derivative lines stay out of the counts. Two bond funds get no overlap figure.

AQEC vs FMCE Cost

Overpaying FMCE vs AQEC

$3,990

On $10,000 over 30 years. 7% growth a year before fees, expense ratio only.

  • AQEC 0.49%

    $9,792

  • FMCE 0.71%

    $13,782

$10,000
30 years

Cost over time

  • AQEC 0.49%
  • FMCE 0.71%
  • Overpaying
One line per fund, from year 0 to year 30. Use the arrow keys to read each point.$0$5K$10K$15K051015202530FMCE $13,782AQEC $9,792

Year by year

YearAQECFMCEOverpaying
10$883$1,267$384
20$3,394$4,824$1,430
30$9,792$13,782$3,990

Expense ratio

  • 0.49%AQEC, cheaper
  • 0.71%FMCE
  • Middle half of US Active Quality funds
  • Median 0.65%

AQEC 2nd cheapest of 16 funds

FMCE 9th cheapest of 16 funds

AQEC vs FMCE Dividends

Last 12 months to Oct 30, 2026
Yield (12M)
AQEC No data
FMCE 2.83%
Payout (12M)
AQEC No data
FMCE $0.81
Last payment
AQEC $0.05
FMCE $0.03
Ex-dividend
AQEC Sep 23, 2026
FMCE Jun 24, 2026
Paid on
AQEC Sep 24, 2026
FMCE Jun 29, 2026
Frequency
AQEC Quarterly
FMCE Twice a year

Distribution history

Per share, 2024 to 2026, same scale for both

AQECQuarterly · 4 paymentsAll AQEC payments⁠
One bar per payment. 4 payments from 2024 to 2026 YTD. Dec 30, 2025 $0.03; Mar 25, 2026 $0.10; Jun 24, 2026 $0.10; Sep 23, 2026 $0.05. Use the arrow keys to read each point.$0$0.502026YTD
FMCETwice a year · 4 paymentsAll FMCE payments⁠
One bar per payment. 4 payments from 2024 to 2026 YTD. Dec 16, 2024 $0.05; Jun 24, 2025 $0.06; Dec 16, 2025 $0.78; Jun 24, 2026 $0.03. Use the arrow keys to read each point.$0$0.502026YTD

AQEC vs FMCE Risk

Fall from peak · 5 years

This chart needs five years of history for both funds.

Risk facts

VolatilityStd dev, 3 years
AQEC No dataFMCE 11.3%since Dec 2024
Return per unit of riskSharpe ratio, 3 years
AQEC No dataFMCE 0.35since Dec 2024
Worst fallMax drawdown, 5 years
AQEC No dataFMCE −11.7%since Nov 2024
Market sensitivityBeta, 5 years
AQEC 0.51FMCE 0.78

AQEC and FMCE in the news

All news⁠

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