The Free Markets ETF

Frequently Asked Questions About FMKT

What does FMKT invest in?

This actively managed exchange-traded fund endeavors to generate returns by investing in U.S.-listed companies poised to benefit from evolving regulatory environments that promote free-market principles. Its primary focus is on industries historically burdened by extensive oversight, such as healthcare, financial services, and energy, anticipating forthcoming regulatory relief. However, the fund also allocates capital to less regulated sectors like technology and consumer goods. The strategy capitalizes on various favorable policy shifts, including reduced government intervention, tax reductions, streamlined licensing procedures, and the elimination of trade barriers. By anticipating these regulatory transformations, the fund aims to uncover undervalued opportunities and mitigate the impact of increasing regulatory burdens elsewhere. Company selection emphasizes evaluating businesses for their potential to capitalize on deregulation, assessing their adaptability, strategic initiatives, and competitive standing within their respective markets. The portfolio typically comprises between 25 and 50 holdings, with at least 80% of its assets dedicated to entities expected to gain from deregulation. Furthermore, up to 5% of the fund's assets may be channeled into exchange-traded products offering exposure to Bitcoin and Ether, thereby diversifying the portfolio and tapping into the growth potential of digital assets.

What is the expense ratio of FMKT?

The Free Markets ETF (FMKT) charges an expense ratio of 0.75%. This is the annual fee deducted from fund assets to cover management and operations.

How big is FMKT?

The Free Markets ETF (FMKT) manages $10.1M in total assets. AUM determines bid-ask liquidity and the fund's vulnerability to closure. Funds below ~$50M are at higher risk of liquidation.

Is FMKT actively managed or an index fund?

FMKT is actively managed: the manager selects holdings rather than tracking an index. Active funds typically charge higher expense ratios than index funds (FMKT's is 0.75%) in exchange for the discretion to over- or under-weight positions.

When was FMKT launched?

The Free Markets ETF (FMKT) launched in June 2025 and is managed by Free Market.

How has FMKT performed?

FMKT's total return (price change plus reinvested distributions) is charted at the top of this page. Switch the price chart to Total Return and pick a 1-year, 3-year, 5-year, or 10-year window to read the compound annual growth rate (CAGR) over each horizon.