FLCC vs MSLC
Federated Hermes MDT Large Cap Core ETF vs Morgan Stanley Pathway Large Cap Equity ETF
Which is better, FLCC or MSLC?
Nearly the same fund. FLCC costs less.
FLCC has a lower expense ratio. FLCC led over 1Y and the full window. The two have moved almost in lockstep, correlation 0.97. MSLC is less concentrated, with 35.6% of the fund in its ten largest positions against 38.9%.
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 | FLCC | MSLC |
|---|---|---|
| Expense Ratio | 0.29%Best | 0.39% |
| AUM | $179M | $4.1B |
| Dividend Yield | 0.45% | 1.95% |
| Holdings | 304 | 793 |
| YTD Return | +12.79%Best | +10.97% |
| 1Y Return | +16.11%Best | +14.08% |
| Volatility (annualized) | 12.7% | 11.9%Best |
| Max Drawdown | -19.2% | -17.9%Best |
| $10,000 over 1.8 years | $12,588Best | $12,375 |
| Top 10 Weight | 38.9% | 35.6%Best |
| Fund Family | Federated Hermes | Morgan Stanley |
| Category | Equity | Equity |
| Style | Large Cap Blend | Large Cap Blend |
| Inception | Jul 30, 2024 | Dec 9, 2024 |
Not shown on this pair: 3Y Return (annualized), 5Y Return (annualized).
Volatility and max drawdown, and the $10,000 over 1.8 years row, are measured over the window both funds cover: Dec 9, 2024 to Oct 14, 2026 (1.8 years).
FLCC vs MSLC 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 1.8 years both funds cover.
FLCC vs MSLC Performance
Federated Hermes MDT Large Cap Core ETF (FLCC) is an ETF from Federated Hermes and Morgan Stanley Pathway Large Cap Equity ETF (MSLC) is an ETF from Morgan Stanley. Over the past year FLCC returned +16.11% while MSLC returned +14.08%. Year to date, FLCC is up 12.79% versus a gain of 10.97% for MSLC.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
FLCC has been the more volatile fund, with annualized monthly volatility of 12.7% compared with 11.9% for MSLC. 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 -19.2% for FLCC and -17.9% for MSLC. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at 0.97. They move almost in lockstep, so holding both mostly duplicates the same exposure.
Fees and Cost Over Time
FLCC charges 0.29% per year while MSLC charges 0.39%. On a $10,000 position that is $29 vs $39 annually, a gap of $10 per year that compounds over a long holding period. On income, FLCC currently yields 0.45% against 1.95% for MSLC.
Holdings Overlap
92.7% of FLCC's money is in holdings MSLC also owns. 56.7% of MSLC's money is in holdings FLCC also owns.
Most of FLCC is already inside MSLC. Owning both mostly buys the same companies twice.
131 positions in common, counted across the 155 positions we hold weights for in FLCC and 789 in MSLC, against full books of 304 and 793.
What only one of them owns
Our book lists 564 positions for MSLC that do not appear in our book for FLCC (40.3% of the fund), and 22 for FLCC that do not appear in MSLC (7.1%).
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 FLCC | Weight in MSLC | Difference |
|---|---|---|---|
| NVDANvidia Corp | 8.62% | 7.04% | 1.58% |
| AAPLApple, Inc | 6.81% | 5.80% | 1.01% |
| MSFTMicrosoft Corp | 4.21% | 5.55% | 1.34% |
| GOOGLAlphabet Inc | 5.88% | 3.23% | 2.65% |
| AMZNAmazon.Com Inc | 3.20% | 4.07% | 0.87% |
| AVGOBroadcom Inc | 2.21% | 2.49% | 0.28% |
| METAMeta Platforms Inc | 1.23% | 2.31% | 1.08% |
| MUMicron Technology, Inc. | 1.44% | 1.60% | 0.16% |
| ABBVAbbvie Inc. | 2.18% | 0.70% | 1.48% |
| COSTCostco Wholesale Corp. | 2.06% | 0.42% | 1.64% |
92.7% of FLCC is already inside MSLC.
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, FLCC or MSLC?
FLCC has an expense ratio of 0.29% while MSLC charges 0.39%. FLCC is the cheaper option, by $10 a year on a $10,000 investment.
Which performed better, FLCC or MSLC?
Over the past year FLCC returned +16.11% vs +14.08% for MSLC, so FLCC leads on 1-year performance. Over the longest common window we track (2 years), FLCC annualized +13.64% vs +12.57% for MSLC. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, FLCC or MSLC?
FLCC has been the more volatile fund at 12.7% annualized versus 11.9% for MSLC. Worst drawdown: FLCC -19.2% vs MSLC -17.9%.
Should I hold both FLCC and MSLC?
FLCC and MSLC have a monthly-return correlation of 0.97, so they move almost identically. What is left to separate them is the fee and the index each one tracks. This is information, not a recommendation.
What is the holdings overlap between FLCC and MSLC?
92.7% of FLCC's money is in holdings MSLC also owns. 56.7% of MSLC's is in holdings FLCC also owns. They hold 131 positions in common, counted across the 155 positions we hold weights for in FLCC and 789 in MSLC.
Which pays a higher dividend, FLCC or MSLC?
FLCC yields 0.45% while MSLC yields 1.95%, so MSLC currently pays the higher dividend yield.
Is MSLC better than FLCC?
FLCC has a lower expense ratio. FLCC led over 1Y and the full window. The two have moved almost in lockstep, correlation 0.97. MSLC is less concentrated, with 35.6% of the fund in its ten largest positions against 38.9%. Which one suits a particular account depends on what it is for. This is information, not a recommendation.