At a glance
FMTM charges 0.45% a year. It has $252.2M in assets. Its ten largest positions make up 35.0% of the fund, out of 30 in all.
The short version
MarketDesk Focused U.S. Momentum ETF (FMTM) is an actively managed fund that holds roughly 30 to 50 U.S. stocks with strong, steady price gains. MarketDesk Indices LLC picks them using its own quantitative rules. The fund stands out for how concentrated it is and how often it trades. It rebuilds the portfolio every month and had 398% turnover. As of July 31, 2026, its largest holdings leaned toward technology names such as Astera Labs and Western Digital. It costs 0.45% a year.
Price history
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FMTM — over the year to Oct 27, 2026, total return with distributions reinvested.
How it has behaved
| YTD | 1 yr | 3 yr | 5 yr | 10 yr | Since start | |
|---|---|---|---|---|---|---|
| FMTM price data to Oct 27, 2026 | -0.4% | — | — | — | — | — |
- The deepest fall in its price history was 15.4% (Jun 30, 2026 to Jul 29, 2026), not yet recovered.
| 2008 financial crisis stocks fell Oct 9, 2007 – Mar 9, 2009 | Before this security existed |
|---|---|
| 2020 COVID crash stocks fell Feb 19, 2020 – Mar 23, 2020 | Before this security existed |
| 2022 bear market stocks fell Jan 3, 2022 – Oct 12, 2022 | Before this security existed |
Dividends and income
No distribution history is available for this fund.
Distributions through Oct 27, 2026.What's inside
As of Jul 31, 2026, the fund held 30 securities; the ten largest made up 35.04% of assets.
| Holding | Weight | |
|---|---|---|
| Astera Labs Inc | 3.76% | |
| Western Digital Corp | 3.70% | |
| Snowflake Inc | 3.51% | |
| Illumina Inc | 3.50% | |
| Crowdstrike Holdings Inc | 3.47% | |
| NetApp Inc | 3.44% | |
| Fortinet Inc | 3.44% | |
| Lam Research Corp | 3.44% | |
| Datadog Inc | 3.40% | |
| Viking Holdings Ltd | 3.38% | |
| Palo Alto Networks Inc | 3.37% | |
| MARVELL TECHNOLOGY INC | 3.34% | |
| Okta Inc | 3.33% | |
| Franklin Resources Inc | 3.31% | |
| Twilio Inc | 3.28% |
By country
United States 96.51%Bermuda 3.38%By asset type
Stocks 93.5%Real estate 6.39%By sector
Sectors of the companies held, for the 46.4% of the fund in companies that have a stock page here; other holdings and cash aren't classified. Source: N-PORT holdings report as of Jul 31, 2026. Cash, money-market funds and derivatives are shown separately from the securities list.What changed recently
- Over the three months to Jul 31, 2026, investors added a net $151.3M (creations minus redemptions, per the N-PORT report).
- Monthly total returns reported for that quarter: +2.71%, +7.47%, -11.90%.
How it works
FMTM does not track an index. The fund is issued by ETF Architect and run by a sub-adviser, MarketDesk Indices LLC, which applies a set of quantitative rules. It starts with U.S.-listed stocks worth more than $1 billion. Then it drops stocks that averaged less than $25 million in daily trading over three months. It also drops companies with free float below 40%. Free float is the share of stock the public can actually trade. What's left is mostly large and mid-sized companies.
Next comes a quality screen. It removes companies with weak finances, such as a low return on assets or high debt compared with equity. Six months of daily prices then show which of the remaining stocks have risen steadily, and those are ranked by how consistent that rise has been. About 30 to 50 stocks make the cut. At least 80% of net assets must be in U.S. stocks with positive momentum. That means gains over the past one, three, six or 12 months, or beating the starting group of stocks over those periods.
The whole process repeats monthly. Turnover was 398%, so the fund traded roughly four times its value in a year. Trading costs like these are not included in the expense ratio. Because the fund resets only once a month, a sudden market turn can leave it holding last month's winners. It is non-diversified, which means it can put more money into fewer companies. As of July 31, 2026, it held 30 stocks.
What it really costs
- FMTM charges 0.45% a year.
- Using the prospectus's standard example, $10,000 invested would cost about $46 in the first year and $567 over 10 years (assuming a 5% annual return).
| Cost of $10,000 (SEC example) | 1 yr | 3 yrs | 5 yrs | 10 yrs |
|---|---|---|---|---|
| FMTM | $46 | $144 | $252 | $567 |
In a retirement portfolio
It is a concentrated, high-turnover momentum fund with a very short record, a beta of 1.6 and no income, so it fits best as a small add-on to a broader core.
FMTM is too new to show how it holds up in a real bear market. It launched on March 20, 2025, so it missed the 2008, 2020 and 2022 sell-offs. The price history available here starts June 9, 2026. In that short window it fell 15.4% between June 30 and July 29, 2026, and it had not fully recovered as of October 27, 2026. Its beta of 1.6 means it has tended to move more sharply than the broad market. Beta measures how much a fund swings compared with the market. Someone who has to sell shares in a bad year could end up selling after a steep drop. Its trailing 12-month yield was 0%, so it offers growth potential, not income. In the SEC's standard example, a $10,000 investment costs about $46 in the first year and $567 over ten years. Past results don't predict future ones, and any plan should look at the whole portfolio, not one fund.
Who it may suit — and who should look elsewhere
May suit
- Investors who want a small, rules-based momentum sleeve of 30 to 50 U.S. stocks alongside a broad, low-cost core fund.
- People comfortable with a tech-heavy mix. As of July 31, 2026, top holdings included Astera Labs, Snowflake, CrowdStrike and Lam Research.
- Investors who accept monthly portfolio changes and 398% turnover to stay in stocks with steady price gains.
Look elsewhere if
- Retirees who need regular income. FMTM's trailing 12-month yield was 0% as of October 27, 2026.
- Investors who want a long track record. FMTM launched March 20, 2025 and has not been tested in a major bear market.
- Investors who want broad diversification. FMTM is non-diversified, has a beta of 1.6 and fell 15.4% between June 30 and July 29, 2026.
Close alternatives
Matched by holdings overlap from the latest N-PORT reports.
No close alternatives found.
Questions investors ask
What does FMTM invest in?
FMTM holds roughly 30 to 50 U.S. stocks that have risen steadily over the past six months and that pass screens for financial health. It held 30 stocks as of July 31, 2026, and its 10 largest positions made up about 35% of assets. The biggest were Astera Labs (3.8%), Western Digital (3.7%), Snowflake (3.5%), Illumina (3.5%) and CrowdStrike (3.5%). Technology was the largest sector.
What is the FMTM expense ratio?
FMTM's expense ratio is 0.45% a year, according to its prospectus filed November 21, 2025. All of it is the management fee, and there is no fee waiver. In the SEC's standard example, a $10,000 investment earning 5% a year costs about $46 after one year, $144 after three years, $252 after five years and $567 after ten years. Trading costs from its 398% turnover come on top of the expense ratio.
Does FMTM pay a dividend?
FMTM paid no distributions in the 12 months to October 27, 2026, so its trailing yield was 0%. Its payout schedule is annual. The fund aims for long-term capital appreciation, which means growth in share price, not income. Momentum stocks such as Astera Labs, Snowflake and Datadog tend to reinvest their earnings rather than pay large dividends. Investors who want regular cash payments may find this fund does not meet that need.
Is FMTM an index fund?
No. FMTM is an actively managed ETF, even though it follows fixed rules. Its sub-adviser, MarketDesk Indices LLC, runs a quantitative process. It screens U.S. stocks for size, trading volume and financial quality, then ranks them by how consistent their price gains have been. Because no published index sits behind the fund, its holdings and results depend on the sub-adviser's own model. Errors or limits in that model are a risk named in the prospectus.
How risky is FMTM?
FMTM is riskier than a broad stock fund. As of October 27, 2026, its beta was 1.6, which means it has tended to move more sharply than the market. It fell 15.4% between June 30 and July 29, 2026, and had not fully recovered by October 27. It is non-diversified, it rebuilds its portfolio every month, and it launched only on March 20, 2025. Momentum stocks can also reverse quickly when the market changes direction.