CGCV vs FMCX
Capital Group Conservative Equity ETF vs FM Focus Equity ETF
Which is better, CGCV or FMCX?
CGCV has been ahead.
CGCV has a lower expense ratio. CGCV led over 1Y and the full window. CGCV is less concentrated, with 33.0% of the fund in its ten largest positions against 54.3%.
MarketXLS is not an investment adviser. This comparison is generated automatically from market data and is for information only. A Best mark means the better reading on that one measure, not a recommendation to buy.
Side-by-Side Comparison
| Metric | CGCV | FMCX |
|---|---|---|
| Expense Ratio | 0.33%Best | 0.72% |
| AUM | $2.1B | $118M |
| Dividend Yield | 1.59% | 0.29% |
| Holdings | 146 | 32 |
| YTD Return | +8.70%Best | +5.03% |
| 1Y Return | +11.37%Best | +3.97% |
| 3Y Return (annualized) | - | +15.01% |
| Volatility (annualized) | 9.9%Best | 13.3% |
| Max Drawdown | -13.1%Best | -18.5% |
| $10,000 over 2.3 years | $13,706Best | $12,631 |
| Top 10 Weight | 33.0%Best | 54.3% |
| Fund Family | Capital Group (US) | First Manhattan |
| Category | Equity | Equity |
| Style | Large Cap Blend | Large Cap Blend |
| Inception | Jun 25, 2024 | Apr 22, 2022 |
Not shown on this pair: 5Y Return (annualized).
Volatility and max drawdown, and the $10,000 over 2.3 years row, are measured over the window both funds cover: Jun 27, 2024 to Oct 14, 2026 (2.3 years).
CGCV vs FMCX growth
Month-end closes. Both lines start at 0% in the first month shown, so the gap between them is the difference in growth across that window. The full view covers the 2.3 years both funds cover.
CGCV vs FMCX Performance
Capital Group Conservative Equity ETF (CGCV) is an ETF from Capital Group (US) and FM Focus Equity ETF (FMCX) is an ETF from First Manhattan. Over the past year CGCV returned +11.37% while FMCX returned +3.97%. Year to date, CGCV is up 8.70% versus a gain of 5.03% for FMCX.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
FMCX has been the more volatile fund, with annualized monthly volatility of 13.3% compared with 9.9% for CGCV. Lower volatility generally means a smoother ride, though it often comes with lower long-run returns.
The deepest peak-to-trough decline in our data was -13.1% for CGCV and -18.5% for FMCX. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at 0.80. They usually move together, but the gap leaves some room for diversification.
Fees and Cost Over Time
CGCV charges 0.33% per year while FMCX charges 0.72%. On a $10,000 position that is $33 vs $72 annually, a gap of $39 per year that compounds over a long holding period. On income, CGCV currently yields 1.59% against 0.29% for FMCX.
Holdings Overlap
25.9% of CGCV's money is in holdings FMCX also owns. 41.0% of FMCX's money is in holdings CGCV also owns.
The two portfolios partly overlap.
The two holdings books were reported 125 days apart, CGCV as of Oct 3, 2026 and FMCX as of May 31, 2026, so some of the difference between them is the time between the two reports rather than the funds.
14 positions in common, counted across the 73 positions we hold weights for in CGCV and 32 in FMCX, against full books of 146 and 32.
What only one of them owns
Our book lists 16 positions for FMCX that do not appear in our book for CGCV (55.8% of the fund), and 55 for CGCV that do not appear in FMCX (68.8%).
Some of those will be the same company recorded under a different code in one of the two books, so the real difference in what you would own is no larger than this and may be smaller. We do not name the individual positions here for that reason.
Top Shared Holdings
| Stock | Weight in CGCV | Weight in FMCX | Difference |
|---|---|---|---|
| MSFTMicrosoft Corp | 6.20% | 6.63% | 0.43% |
| AVGOBroadcom Inc | 4.04% | 3.83% | 0.21% |
| GEGeneral Electric Co. | 1.93% | 5.69% | 3.76% |
| HONHoneywell International Inc | 0.46% | 4.41% | 3.95% |
| LINLinde Plc Ordinary Shares | 1.51% | 3.25% | 1.74% |
| METAMeta Platforms Inc | 2.72% | 1.79% | 0.93% |
| NVDANvidia Corp | 2.16% | 1.93% | 0.23% |
| CBChubb Ltd. | 0.87% | 2.68% | 1.81% |
| UNHUnitedhealth Group Incorporated | 0.88% | 2.67% | 1.79% |
| AMATApplied Materials, Inc. | 1.45% | 2.00% | 0.55% |
41.0% of FMCX is already inside CGCV.
You probably hold more than these two. Add the rest and see how much of the whole book is the same companies twice.
Free for up to 10 holdings. No account needed.
Frequently Asked Questions
Which is cheaper, CGCV or FMCX?
CGCV has an expense ratio of 0.33% while FMCX charges 0.72%. CGCV is the cheaper option, by $39 a year on a $10,000 investment.
Which performed better, CGCV or FMCX?
Over the past year CGCV returned +11.37% vs +3.97% for FMCX, so CGCV leads on 1-year performance. Over the longest common window we track (2 years), CGCV annualized +14.69% vs +10.69% for FMCX. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, CGCV or FMCX?
FMCX has been the more volatile fund at 13.3% annualized versus 9.9% for CGCV. Worst drawdown: CGCV -13.1% vs FMCX -18.5%.
Should I hold both CGCV and FMCX?
CGCV and FMCX have a monthly-return correlation of 0.80, so their returns are far enough apart for the mix to behave differently from either one alone. This is information, not a recommendation.
What is the holdings overlap between CGCV and FMCX?
41.0% of FMCX's money is in holdings CGCV also owns. 41.0% of FMCX's is in holdings CGCV also owns. They hold 14 positions in common, counted across the 73 positions we hold weights for in CGCV and 32 in FMCX.
Which pays a higher dividend, CGCV or FMCX?
CGCV yields 1.59% while FMCX yields 0.29%, so CGCV currently pays the higher dividend yield.
Is FMCX better than CGCV?
CGCV has a lower expense ratio. CGCV led over 1Y and the full window. CGCV is less concentrated, with 33.0% of the fund in its ten largest positions against 54.3%. Which one suits a particular account depends on what it is for. This is information, not a recommendation.