FMKT vs HOMZ

FMKTDThe Free Markets ETF

HOMZBHoya Capital Housing ETF

In short

FMKT A 2025 newcomer with an unusually wide brief: long-term total returns, no index to track. The Free Markets ETF is a bet on manager judgment rather than a rulebook, and it costs 0.76% a year.

HOMZ Most housing ETFs pick a lane: homebuilders or apartment REITs. HOMZ buys the whole chain, landlords, builders, home-improvement retailers and housing finance and tech names, sizing each segment by its share of GDP.

Stated mandate

FMKT The Fund seeks long-term total returns.

HOMZ The Fund seeks to track the performance of the Hoya Capital Housing 100TM Index before fees and expenses.

Why people hold it

• FMKT No declared index means no rulebook. The managers can pursue long-term total returns wherever they see them instead of hugging a fixed theme basket.
• Built around total return, not income. Distributions land on an annual or semiannual schedule, so the portfolio carries the story rather than the payout calendar.
• Still a small fund, so positions can be reshaped without the size constraints that come with running billions.

• HOMZ Four housing segments in one ticker: rental operators, builders, home improvement and furnishings, and housing finance, tech and services, each sized by its contribution to GDP rather than market cap.sec.gov
• The 2019 original: launched as the first ETF offering diversified exposure across the entire US housing sector, and still tracking the index its adviser built.prnewswire.com
• 0.30% a year, below the 0.45% median for its index-tracking peers, on an index reconstituted and rebalanced on a set schedule each June and December.sec.govsec.gov 2
• Distributions arrive monthly rather than quarterly, a cadence more common among bond funds than equity sector funds.

Worth knowing

• FMKT At 0.76%, it costs more than thematic peers such as LRND (0.14%) and TECB (0.30%). Active discretion is what you are paying the difference for.
• Small asset base and light trading can mean wider bid-ask spreads, so entry and exit mechanics matter more here than in a heavily traded fund.
• Launched in 2025 with no benchmark index, so there is little history and no yardstick to check the portfolio against. It currently sits in the lower part of its thematic peer group.

• HOMZ A small, thinly traded fund. Spreads can run wider than on mega-cap index trackers, and small funds carry more risk of being closed or repositioned.
• One industry, roughly 100 stocks. Housing moves with mortgage rates and construction cycles, so this can drift well apart from a broad market fund.
• Cheap for a themed index fund, still a multiple of plain broad-market trackers: SCHK charges 0.03% and VT 0.06%.

Full FMKT profile⁠

Full HOMZ profile⁠