The Free Markets ETF (FMKT) Performance
FMKT total return
Distributions reinvested · as of Oct 23, 2026- YTD
- −1.1% since Dec 31, 2025
- 1 year
- −5.5% total return
- Since first price
- +9.7% since 2025
FMKT trailing returns vs SPY, QQQ, AGG
| Period | FMKT total return | Price only | S&P 500 (SPY) | Nasdaq-100 (QQQ) | U.S. bonds (AGG) |
|---|---|---|---|---|---|
| 1 month | −4.3% | −4.3% | −1.0% | −5.0% | +0.9% |
| 3 months | −2.6% | −2.6% | +3.2% | +1.9% | −0.4% |
| 6 months | −2.1% | −2.1% | +7.8% | +8.4% | −1.5% |
| YTD | −1.1% | −1.1% | +12.3% | +15.1% | −1.0% |
| 1 year | −5.5% | −7.4% | +14.4% | +15.9% | −1.1% |
| Since inceptionJun 10, 2025 | +9.7% | +7.5% | — | — | — |
Total return from adjusted closes (distributions reinvested, before tax). Periods of 3 years or more are also shown annualized. Price only excludes distributions.
Growth of $10,000: FMKT vs SPY
From Jun 10, 2025: FMKT grew to $10,971, SPY to $12,811.
Year-end values with distributions reinvested, no taxes or trading costs. Start: first common trading day of both funds.
FMKT returns by calendar year
2026 is year to date.
FMKT annual returns table
| Year | FMKT | Largest drop | SPY | QQQ | AGG |
|---|---|---|---|---|---|
| 2026YTD | −1.1% | −14.2% | +12.3% | +15.1% | −1.0% |
Largest drop = deepest fall from a high within that calendar year.
Calendar-year return vs largest drop within the year
Most years include a sizable fall at some point even when the year ends higher.
FMKT largest drawdowns
Now 10.3% below the high| Peak | Decline | Bottom | Recovered | Fall | Underwater |
|---|---|---|---|---|---|
| Oct 8, 2025 | −17.8% | Apr 7, 2026 | not yet | 6 months | 1.0 years so far |
Declines from a closing high (distributions reinvested) of 10% or more. Underwater = time from the peak until the old high was regained.
FMKT risk statistics
| Statistic | Since 2025 |
|---|---|
| Annualized return | +4.7% |
| Volatility (annualized) | 14.2% |
| Sharpe ratio | 0.13 |
| Sortino ratio | 0.20 |
| Best month | +7.6% |
| Worst month | −6.0% |
| Best 12 months | +6.9% |
| Worst 12 months | −5.3% |
| Positive months | 47% |
| Beta vs S&P 500 | — |
| Correlation with S&P 500 | — |
From monthly total returns. Sharpe and Sortino use 1–3 month T-bills (BIL) as the risk-free rate, so they need history from 2007 on.
FMKT rolling returns
| Holding period | Periods | Worst | Median | Best | Positive |
|---|---|---|---|---|---|
| 1-year | 5 | −6.8% | +1.6% | +6.9% | 60% |
Every holding period starting at a month-end since 2025. Returns for 3 years and longer are annualized.
FMKT performance overview
The Free Markets ETF (FMKT) returned −5.5% over the past year, with distributions reinvested. Since its first recorded price on Jun 10, 2025 it has returned +9.7%. Over the same year S&P 500 (SPY) returned +14.4%.
The deepest decline was −17.8%, from Oct 8, 2025 to Apr 7, 2026; the fund has not yet regained that high. Volatility has been 14.2% a year.
Related: FMKT chart, FMKT holdings, FMKT dividends, FMKT valuation. See the FMKT overview for the latest quote and fund facts.
FMKT performance FAQ
What is the FMKT return over the past year?
FMKT returned −5.5% over the 12 months to October 23, 2026, including reinvested distributions. On price alone it fell 7.4%.
How much would $10,000 invested in FMKT be worth?
$10,000 invested in FMKT at its first recorded close on June 10, 2025 would be worth about $10,971 on October 23, 2026 with distributions reinvested.
What is the biggest drawdown of FMKT?
The largest peak-to-trough decline was −17.8% between October 8, 2025 and April 7, 2026. It has not yet recovered to that high; it is 10.3% below its peak.
How volatile is FMKT?
Over the past history FMKT had an annualized volatility of 14.2% and a Sharpe ratio of 0.13 (excess return over 1–3 month T-bills per unit of risk).