FEMD ETF — Holdings & Analysis

FEMD seeks long-term capital growth through investments in companies undergoing turnarounds, emerging growth companies, and businesses with unrecognized asset values, differentiating itself through a value-oriented, active management approach.

First Eagle Mid Cap Equity ETF (FEMD) ETF — Price, Holdings & Analysis

The First Eagle Mid Cap Equity ETF (FEMD) is an actively managed fund focusing on US mid-cap companies with opportunistic investment situations. Launched in January 2026, FEMD has an expense ratio of 0.55% and approximately $0.00B in assets under management. FEMD seeks long-term capital growth through investments in companies undergoing turnarounds, emerging growth companies, and businesses with unrecognized asset values, differentiating itself through a value-oriented, active management approach.

ETF Overview

FEMD invests primarily in equity securities of US mid-cap companies, defined as companies with market capitalizations not exceeding those in the Russell Mid Cap Index at the time of investment. The fund seeks long-term capital growth by focusing on what the adviser views as opportunistic investment situations, including company turnarounds, emerging growth companies with interrupted earnings patterns, businesses with unrecognized asset values, and companies trading below assessed worth. While the portfolio is centered on domestic equities, the fund may also invest to a lesser extent in non-US issuers through depositary receipts. Cash and cash equivalents may be held for liquidity and portfolio management purposes.

The First Eagle Mid Cap Equity ETF (FEMD) aims for long-term capital growth by investing primarily in the equity securities of US mid-cap companies. These are defined as companies with market capitalizations not exceeding those in the Russell Mid Cap Index at the time of investment. FEMD's strategy centers around identifying opportunistic investment situations, including company turnarounds, emerging growth companies with interrupted earnings patterns, businesses with unrecognized asset values, and companies trading below assessed worth. The fund's top holdings reflect this approach, with significant allocations to companies like Expand Energy Corp Ordinary Shares - New (1.82%), Permian Resources Corp Class A (1.81%), and Teledyne Technologies Inc (1.79%). While primarily focused on domestic equities, FEMD may also invest in non-US issuers through depositary receipts. Cash and cash equivalents may be held for liquidity and portfolio management purposes, allowing the fund to capitalize on market fluctuations and maintain flexibility.

Risk Metrics

FEMD's risk profile is influenced by its active management and concentration in specific holdings. The fund's top 10 holdings account for approximately 17.66% of its total assets, indicating a degree of concentration risk. While the fund invests in mid-cap companies, its focus on opportunistic situations like turnarounds and emerging growth companies may introduce additional volatility. With a 3-year Beta of 0.00, FEMD's volatility relative to the market cannot be accurately assessed at this time. The expense ratio of 0.55% can create a drag on performance, especially in periods of lower returns. these may be worth researching factors when evaluating FEMD's suitability for their portfolios. Past performance does not guarantee future results.

Expense Ratio

0.55%

What does FEMD hold?

Holding	Weight
Expand Energy Corp Ordinary Shares - New (EXE)	1.82%
Permian Resources Corp Class A (PR)	1.81%
Teledyne Technologies Inc (TDY)	1.79%
Coherent Corp (COHR)	1.78%
Targa Resources Corp (TRGP)	1.75%
ONEOK Inc (OKE)	1.74%
PPG Industries Inc (PPG)	1.70%
Reinsurance Group of America Inc (RGA)	1.70%
DexCom Inc (DXCM)	1.69%
VF Corp (VFC)	1.67%

Dividend Yield

0.00%

Invesco QQQ Trust, Series 1 (QQQ) — 0.18% expense ratio
State Street Technology Select Sector SPDR ETF (XLK) — 0.08% expense ratio
State Street Energy Select Sector SPDR ETF (XLE) — 0.08% expense ratio
State Street SPDR Dow Jones Industrial Average ETF Trust (DIA) — 0.16% expense ratio
iShares Russell 2000 ETF (IWM) — 0.19% expense ratio
State Street Financial Select Sector SPDR ETF (XLF) — 0.08% expense ratio
iShares MSCI Emerging Markets ETF (EEM) — 0.72% expense ratio
iShares MSCI EAFE ETF (EFA) — 0.32% expense ratio

Risk Metrics

Beta: 0.00

Questions & Answers

What is FEMD and what does it track?

The First Eagle Mid Cap Equity ETF (FEMD) is an actively managed ETF that invests primarily in equity securities of US mid-cap companies.

FEMD seeks long-term capital growth by focusing on opportunistic investment situations, such as company turnarounds and emerging growth companies. The fund does not track a specific index but rather uses a flexible approach to identify undervalued companies.

What is the expense ratio for FEMD?

The expense ratio for the First Eagle Mid Cap Equity ETF (FEMD) is 0.55%. This means that for every $10,000 invested in the fund, $55 is used to cover operating expenses annually.

What are the top holdings in FEMD?

As of 2026-03-15, the top holdings in the First Eagle Mid Cap Equity ETF (FEMD) are: Expand Energy Corp Ordinary Shares - New, representing 1.82% of the portfolio; Permian Resources Corp Class A, with a 1.81% allocation; Teledyne Technologies Inc,…

at 1.79%; Coherent Corp at 1.78%; and Targa Resources Corp, comprising 1.75% of the fund.

Is FEMD a good long-term investment?

Determining whether FEMD is a suitable long-term investment depends on individual investment goals, risk tolerance, and time horizon. FEMD's focus on opportunistic investments in mid-cap companies could provide potential for long-term capital appreciation.

However, its active management approach and concentration in specific holdings may introduce additional volatility.

How does FEMD compare to similar ETFs?

FEMD differentiates itself through its active management and focus on opportunistic investments within the mid-cap equity space. Compared to passively managed mid-cap ETFs, FEMD has a higher expense ratio of 0.55%, reflecting the cost of active management.

Other actively managed mid-cap ETFs may have different investment strategies, expense ratios, and portfolio compositions.

Does FEMD pay dividends?

As of 2026-03-15, the First Eagle Mid Cap Equity ETF (FEMD) has a dividend yield of 0.00%. This indicates that the fund is not currently distributing dividends to its shareholders.

The fund's investment strategy focuses on capital appreciation rather than income generation, which may explain the absence of dividend payments. Investors seeking dividend income may want to consider other equity ETFs with a higher dividend yield.