FMTM vs HWAY
MarketDesk Focused US Momentum ETF vs Themes US Infrastructure ETF
Which is better, FMTM or HWAY?
HWAY has been ahead.
HWAY has a lower expense ratio. HWAY led over 1Y and the full window. FMTM is less concentrated, with 34.9% of the fund in its ten largest positions against 42.8%.
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 | FMTM | HWAY |
|---|---|---|
| Expense Ratio | 0.45% | 0.29%Best |
| AUM | $284M | $4M |
| Dividend Yield | 0.24% | 1.05% |
| Holdings | 86 | 197 |
| Volatility (annualized) | 22.7% | 17.6%Best |
| Max Drawdown | -14.3% | -13.8%Best |
| $10,000 over 1.4 years | $15,086 | $15,505Best |
| Top 10 Weight | 34.9%Best | 42.8% |
| Fund Family | MarketDesk Indices | Themes ETFs |
| Category | Equity | Equity |
| Style | Mid Cap Blend | Mid Cap Blend |
| Inception | Mar 20, 2025 | Sep 11, 2024 |
Not shown on this pair: YTD Return, 1Y Return, 3Y Return (annualized), 5Y Return (annualized).
The two price series end 78 days apart, so a return over any period would be measuring two different stretches of market. Those rows are withheld. FMTM has data through Oct 14, 2026 and HWAY through Jul 28, 2026.
Volatility and max drawdown, and the $10,000 over 1.4 years row, are measured over the window both funds cover: Mar 20, 2025 to Jul 28, 2026 (1.4 years).
Risk: Volatility and Drawdowns
FMTM has been the more volatile fund, with annualized monthly volatility of 22.7% compared with 17.6% for HWAY. 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 -14.3% for FMTM and -13.8% for HWAY. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at 0.79. They usually move together, but the gap leaves some room for diversification.
Fees and Cost Over Time
FMTM charges 0.45% per year while HWAY charges 0.29%. On a $10,000 position that is $45 vs $29 annually, a gap of $16 per year that compounds over a long holding period. On income, FMTM currently yields 0.24% against 1.05% for HWAY.
Holdings Overlap
We hold position weights for 31 holdings in FMTM and 99 in HWAY, totalling 100.0% and 100.0% of the two funds. The two books name no position in common, so there is no overlap percentage to show.
The two holdings books were reported 66 days apart, FMTM as of Oct 1, 2026 and HWAY as of Jul 27, 2026, so some of the difference between them is the time between the two reports rather than the funds.
0 positions in common, counted across the 31 positions we hold weights for in FMTM and 99 in HWAY, against full books of 86 and 197.
What only one of them owns
Our book lists 97 positions for HWAY that do not appear in our book for FMTM (95.1% of the fund), and 31 for FMTM that do not appear in HWAY (100.0%).
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.
You are not choosing between two funds in isolation.
Whichever of FMTM and HWAY you pick has to sit alongside everything else you own. Add the rest and see what the combination actually holds.
Free for up to 10 holdings. No account needed.
Frequently Asked Questions
Which is cheaper, FMTM or HWAY?
FMTM has an expense ratio of 0.45% while HWAY charges 0.29%. HWAY is the cheaper option, by $16 a year on a $10,000 investment.
Which is riskier, FMTM or HWAY?
FMTM has been the more volatile fund at 22.7% annualized versus 17.6% for HWAY. Worst drawdown: FMTM -14.3% vs HWAY -13.8%.
Should I hold both FMTM and HWAY?
FMTM and HWAY have a monthly-return correlation of 0.79, so their returns are far enough apart for the mix to behave differently from either one alone. This is information, not a recommendation.
Which pays a higher dividend, FMTM or HWAY?
FMTM yields 0.24% while HWAY yields 1.05%, so HWAY currently pays the higher dividend yield.
Is HWAY better than FMTM?
HWAY has a lower expense ratio. HWAY led over 1Y and the full window. FMTM is less concentrated, with 34.9% of the fund in its ten largest positions against 42.8%. Which one suits a particular account depends on what it is for. This is information, not a recommendation.