FMKT
The Free Markets ETF
The Free Markets ETF seeks to provide investors with capital appreciation by investing in a diversified portfolio of companies that promote free market principles and benefit from free market-oriented economies.
US
EQUITY
Active
MANAGEMENT STYLE
13.8 M
ASSETS UNDER MGMT
76 bp
EXPENSES
Fund Basics
| Fund sponsor | Free Market |
| Category | US |
| Asset class | Equity |
| Website | link... |
| Inception date | Jun 09, 2025 |
| Assets (mns) | $14 |
| Expense ratio | 76 bp |
| Currency | USD |
Sector Breakdown
Fund Structure
| Regulation | Open-Ended Fund |
| Distributions | |
| Taxation | 1099 |
| Stock selection | |
| Weighting | |
| Holdings Transparency | Full |
| Derivatives-based | No |
| Options available | No |
| Currency hedged | No |
| Fund of funds | No |
Top 10 Holdings
Complete list +
| ROBINHOOD MARKETS, INC. CLASS A | 4.2 % |
| URANIUM ENERGY CORP | 4.1 % |
| MCKESSON CORP | 3.9 % |
| UBER TECHNOLOGIES, INC. | 3.1 % |
| EQT CORP | 3.1 % |
| DOORDASH, INC. CLASS A | 3.1 % |
| VISTRA ENERGY CORP. | 3.1 % |
| TECHNIPFMC PLC | 3.0 % |
| GE VERONA | 3.0 % |
| ARCHER AVIATION INC CLASS A | 2.9 % |
Constituent Breakdown
| Number of holdings | 43 |
| Herfindahl-Hirschman Index | 258 |
| Wgt avg mkt cap (mns) | $52,540 |
| Large cap (>$10bn) | 66.9% |
| Mid cap ($2-10bn) | 24.8% |
| Small cap (<$2bn) | 0.0% |
| Developed mkts. | 88.7% |
| Emerging mkts. | 0.0% |
Country Exposure
 |
UNITED STATES | 85.7 % |
 |
BRITAIN | 3.1 % |
Historical Performance
Standardized Performance (as of 05/31/2025)
| YTD | 1 YR | 2 YR | 3 YR | 5 YR | 10 YR | 20 YR | Incep. | |
|---|---|---|---|---|---|---|---|---|
| Price Returns | -- | -- | -- | -- | -- | -- | -- | -- |
| Dividend Yield | -- | -- | -- | -- | -- | -- | -- | -- |
| Total Returns | -- | -- | -- | -- | -- | -- | -- | -- | Ann. Volatility | -- | -- | -- | -- | -- | -- | -- | -- |
Market Correlations
| versus... | Beta | R-squared |
| S&P 500 | 0.00 | 0% |
| MSCI EAFE | 0.00 | 0% |
| MSCI Emg Mkts | 0.00 | 0% |
Liquidity Measures
| Avg. volume (000) | 86 |
| ADV traded (mns) | $2 |
| Turnover | 12.8% |
| Avg. Bid/Ask (% of price) | 0.00% |
Technical Indicators
| Recent close | $20.59 |
| 30d moving avg. | $0.00 |
| Annualized volatility | 0.0% |
| Relative strength (RSI) | 0 |
| Short interest | 0.0% |
Distributions
Assets Under Management (mns)
Money Flows (mns)
Short Interest (as % of shares outstanding)
Long Money Flows (mns)
Top Ten Comparable ETFs only shown here. For an extended list become an Individual or Professional subscriber. Start your FREE trial
Comparable ETFs Based on Overlap
| Ticker | Fund Name | Overlap vs. |
Expenses vs. |
ALTAR Score™ vs. |
|---|---|---|---|---|
| RPG | Invesco S&P 500 Pure Growth ETF | 16.6% | -41 bp | +3.2% |
| FMTM | MarketDesk Focused U.S. Momentum ETF | 15.2% | -31 bp | +3.9% |
| FPX | First Trust US Equity Opportunities ETF | 14.5% | -15 bp | +1.0% |
| VOT | Vanguard Mid-Cap Growth ETF | 13.3% | -69 bp | +3.6% |
| FTC | First Trust Large Cap Growth AlphaDEX Fund | 12.9% | -17 bp | +2.8% |
| QMOM | Alpha Architect U.S. Quantitative Momentum ETF | 12.8% | -37 bp | +3.1% |
| AMOM | Qraft AI-Enhanced U.S. Large Cap Momentum ETF | 12.6% | -1 bp | +2.9% |
| QGRO | American Century U.S. Quality Growth ETF | 11.8% | -47 bp | +3.5% |
| XLI | Industrial Select Sector SPDR Fund | 11.4% | -68 bp | +4.4% |
| IAI | iShares U.S. Broker-Dealers & Securities Exchanges ETF | 11.3% | -36 bp | +4.0% |
Risk and Returns: vs. Comps (1 YR)
Notes: Top 10 overlapping ETFs. Funds with insufficient history not shown. Some funds may overlap. Hover over data point for ticker symbol.
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Results & Estimates
| 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | ||
|---|---|---|---|---|---|---|---|---|
| Sales per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- | |
| Earnings per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- | |
| Dividends per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- | |
| Book value per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- |
Return on Equity
Net Margins
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Valuation Metrics
| Fwd Est | 2024 | 2025 | 2026 | |
| Price-to-sales | --x | --x | --x | --x |
| Price-to-earnings | --x | --x | --x | --x |
| Price-to-cash flow | --x | --x | --x | --x |
| Price-to-growth | --x | --x | --x | --x |
| Price-to-book value | --x | --x | --x | --x |
| Yield | --% | --% | --x | --% |
Based on closing prices from 6/28/2025
Peer Group Comparison Sample data. Subscribe for access.
Price-to-Earnings
Price-to-Sales
Price-to-Book Value
Price-to-Cash Flow
Price-to-Growth
Dividend Yield
Historical Valuation Trends Sample data. Subscribe for access.
SHOWING:
Price-to-Earnings
Price-to-Earnings
Notes: Based on adjusted historical results for current fund constituents. May differ from results achieved by past fund constituents. Max P/E of 100x.
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ETF Research Center Rating
AVOID
Not worthwhile for most investors. A rating of AVOID is assigned to ETFs with ALTAR Scores in the lowest quintile (the bottom 20%) of their category. Often, funds in this category consist of stocks with little if any history or expectation of profitability, and as a result our fundamentally-driven analysis may be less relevant.
ALTAR Score™
FMKT
2.1%
Cat. Avg
5.8%
ALTAR Score™ Calculation
Category Overview
There are 954 funds in the US Equity category, with an average ALTAR Score™
of 5.8% and a standard deviation of
2.3%. FMKT's ALTAR Score™ is approximately
1.6 standard deviations
below
the category average. This places FMKT in the 6th percentile among funds in the category.
Sell Side Consensus Rating
Sell-side recommendations on the ETF's individual constituents
FMKTSELL
U/W
HOLD
O/W
BUY
Expense Analysis
| Peer Group | Active US Equity ETFs |
| # of ETFs | 308 |
| Avg. Expense Ratio | 67.1 bp |
| Std. Deviation | 37 bp |
| (76 bp) Percentile rank | 63 |
Peer Group Expense Ratio Distribution
Total Cost of Ownership (TCO) Comparison
| Expense (bp) (A) |
Avg. Bid/Ask (bp) (B) |
TCO (bp) (A)+(B) |
|
|---|---|---|---|
| FMKT | 76.0 | 0.0 | 76 |
| Peer Avg. | 54.6 | 32.0 | 86.7 |
For a detailed cost analysis of this and any other ETF use the TCO Comparison Tool .