FMFEX Performance — Select Materials Portfolio, Class I
Data updated: 2026-07-24
FMFEX returned +15.27% year to date and +22.97% over one year to May 2026. Annualised returns are +11.76% over 3 years and +5.11% over 5 years. The fund trailed its Global Materials Equity category average: $100 invested three years ago grew to $140, against $185 for the category, and to $123 over one year, against $177. Volatility over the past three years was 17.63% a year. In the 12 months to May 2026 the fund lost a net $10.1M, and assets reached $823.57M.
FMFEX Growth of $100
What $100 invested in Select Materials Portfolio grew to, compounded from monthly returns reported on SEC Form N-PORT, against the Global Materials Equity category average over the same months.
| Period | FMFEX | Category average |
|---|---|---|
| 1 year (Jun 2025 – May 2026) | $123 | $177 |
| 3 years (Jun 2023 – May 2026) | $140 | $185 |
| 5 years (Jun 2021 – May 2026) | $128 | $156 |
| Since data start (Sep 2019 – May 2026) | $207 | $307 |
FMFEX Trailing Returns
Total returns to May 2026, from SEC N-PORT.
| Period | Total return |
|---|---|
| YTD | +15.27% |
| 1 year | +22.97% |
| 3 years (annualised) | +11.76% |
| 5 years (annualised) | +5.11% |
FMFEX Annual Returns
Calendar-year total returns of Select Materials Portfolio, compounded from monthly SEC N-PORT returns. Partial years show the months covered.
| Year | Total return |
|---|---|
| 2026 (Jan–May) | +15.27% |
| 2025 | +11.27% |
| 2024 | −2.91% |
| 2023 | +7.29% |
| 2022 | −9.84% |
| 2021 | +31.65% |
| 2020 | +21.80% |
| 2019 (Sep–Dec) | +7.06% |
FMFEX Monthly Returns
Monthly total returns as reported on SEC Form N-PORT.
| Year | Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | +8.6% | +9.2% | −5.5% | +2.8% | +0.1% | — | — | — | — | — | — | — |
| 2025 | +5.0% | −0.3% | −3.3% | −0.4% | +3.5% | +2.5% | −1.4% | +5.8% | +0.2% | −6.1% | +3.4% | +2.5% |
| 2024 | −2.8% | +4.5% | +7.6% | −3.7% | +2.8% | −4.5% | +2.7% | −0.2% | +2.9% | −3.0% | +3.5% | −11.3% |
| 2023 | +9.4% | −3.5% | −2.0% | −0.4% | −7.1% | +10.6% | +6.1% | −2.9% | −5.6% | −7.2% | +7.1% | +4.7% |
| 2022 | −7.4% | +2.1% | +6.2% | −6.2% | +2.0% | −14.8% | +6.7% | −1.9% | −9.0% | +8.6% | +12.6% | −5.4% |
| 2021 | −2.1% | +6.9% | +5.4% | +7.1% | +4.6% | −5.2% | +1.2% | +2.0% | −5.6% | +8.1% | −1.1% | +7.9% |
| 2020 | −6.6% | −7.7% | −14.6% | +14.6% | +6.1% | +2.2% | +7.3% | +4.0% | −0.6% | +2.0% | +11.5% | +5.5% |
| 2019 | — | — | — | — | — | — | — | — | +2.5% | −0.2% | +2.2% | +2.4% |
FMFEX Risk
Risk measures from monthly returns over Jun 2023 – May 2026.
- 3-year volatility (annualised): 17.63%
- 3-year Sharpe ratio: 0.41 (vs 4.5% risk-free rate)
- Best month: +10.61% (Jun 2023)
- Worst month: −11.26% (Dec 2024)
FMFEX Fund Flows
Monthly money in and out of Select Materials Portfolio, from SEC Form N-PORT.
- 12-month net flow: −$10.1M
- 12-month gross sales (incl. reinvestments): $184.8M
- Sales ÷ redemptions: 0.95×
| Month | Sales | Redemptions | Net flow |
|---|---|---|---|
| May 2026 | $9.4M | $20.4M | −$11.0M |
| Apr 2026 | $53.5M | $17.9M | $35.6M |
| Mar 2026 | $23.6M | $19.6M | $4.0M |
| Feb 2026 | $25.5M | $14.8M | $10.7M |
| Jan 2026 | $23.0M | $18.8M | $4.2M |
| Dec 2025 | $18.1M | $16.2M | $1.9M |
| Nov 2025 | $4.0M | $14.3M | −$10.2M |
| Oct 2025 | $6.2M | $19.5M | −$13.3M |
| Sep 2025 | $5.7M | $12.8M | −$7.0M |
| Aug 2025 | $4.9M | $14.5M | −$9.7M |
| Jul 2025 | $7.2M | $14.3M | −$7.1M |
| Jun 2025 | $3.7M | $11.8M | −$8.2M |
FMFEX Assets Under Management
Net assets of Select Materials Portfolio by report date, from SEC N-PORT filings.
| Report date | Net assets |
|---|---|
| 2026-05-31 | $823.57M |
| 2026-02-28 | $844.38M |
| 2025-11-30 | $693.09M |
| 2025-08-31 | $743.40M |
| 2025-05-31 | $719.50M |
| 2025-02-28 | $757.21M |
| 2024-11-30 | $852.25M |
| 2024-08-31 | $850.34M |
| 2024-05-31 | $900.82M |
| 2024-02-29 | $870.12M |
| 2023-11-30 | $874.85M |
| 2023-08-31 | $1.01B |
For information only. Not investment advice: figures are as reported in SEC filings and may contain errors or be out of date. Past performance does not guarantee future results.