FM Focus Equity ETF (FMCX)
Market Closed
7 Aug, 20:00
ARCA ARCA Primary $
37. 50
+0.39
+1.0537%
$
124.32M Market Cap
0.11% Div Yield
100 Volume
$ 37.11
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New First Manhattan ETF Offers Long-Term Equity Strategy
On Monday, First Manhattan started off the week with the launch of the FM Compounders Equity ETF (FMCE). FMCE is an actively managed fund with a net expense ratio of 0.70%.
Etftrends | 1 year ago
FMCX: At 25.85x Forward Earnings, First Manhattan's Debut Active ETF Is Too Expensive
FMCX is a large-cap blend fund with a 0.70% expense ratio and $97 million in assets. Selecting only 25-30 U.S. stocks, FMCX is a portfolio of First Manhattan's highest-conviction ideas. The fund's portfolio manager is an industry veteran with over 27 years of experience as a value-oriented investor. However, FMCX's 25.85x forward P/E suggests otherwise. I found other inconsistencies when evaluating FMCX's trailing price-cash flow and trailing price-sales ratios, which wrapped into a value score that ranks just #205/251 in its category.
Seekingalpha | 1 year ago
