Overview
The 80 highest-quality companies in the S&P MidCap 400 — return on equity, clean accruals and low leverage, applied to the market's middle tier.
Top Holdings
| Ticker | Holding | Weight |
|---|---|---|
| EME | EMCOR Group | 2.9% |
| FIX | Comfort Systems USA | 2.7% |
| CSL | Carlisle Companies | 2.4% |
| USFD | US Foods Holding | 2.2% |
| WSM | Williams-Sonoma | 2.1% |
| OC | Owens Corning | 2.0% |
| GGG | Graco Inc. | 1.9% |
| LECO | Lincoln Electric | 1.8% |
| RPM | RPM International | 1.7% |
| NVT | nVent Electric | 1.6% |
Fund Details
Investment Thesis
Quality screening works hardest in mid caps, where index membership no longer guarantees institutional scrutiny and balance-sheet discipline varies wildly. XMHQ's screen surfaces the mid-tier compounders — specialty industrials, niche leaders — that quietly beat the S&P 400 for a decade, which turned it from an obscure fund into a $5B favourite. Concentration in 80 names is the active risk you accept.
Who It's For
Investors who want mid-cap exposure with a fundamental filter instead of the whole index, betting the quality anomaly keeps paying in the market's least-efficient large tier.
10-Year History
| Year | Close | % Chg |
|---|---|---|
| 2016 | $43.34 | -- |
| 2017 | $52.00 | +20.0% |
| 2018 | $45.24 | -13.0% |
| 2019 | $58.36 | +29.0% |
| 2020 | $64.20 | +10.0% |
| 2021 | $80.25 | +25.0% |
| 2022 | $67.41 | -16.0% |
| 2023 | $86.96 | +29.0% |
| 2024 | $100.00 | +15.0% |
| 2025 | $107.00 | +7.0% |
| Year | Yield |
|---|---|
| 2016 | 1.30% |
| 2017 | 1.10% |
| 2018 | 1.40% |
| 2019 | 1.20% |
| 2020 | 1.10% |
| 2021 | 0.80% |
| 2022 | 1.00% |
| 2023 | 0.80% |
| 2024 | 0.60% |
| 2025 | 0.60% |
| Year | AUM | % Chg |
|---|---|---|
| 2016 | $0.1B | -- |
| 2017 | $0.2B | +100.0% |
| 2018 | $0.3B | +50.0% |
| 2019 | $0.5B | +66.7% |
| 2020 | $0.8B | +60.0% |
| 2021 | $1.2B | +50.0% |
| 2022 | $1.5B | +25.0% |
| 2023 | $3B | +100.0% |
| 2024 | $5B | +66.7% |
| 2025 | $5.5B | +10.0% |
Price history from exchange data. Dividend yields from reported distributions; some earlier years are derived from total-return vs price-return data or are ETFHub estimates. AUM history is an ETFHub estimate modelled from current assets and annual returns (fund flows not reflected) and may differ from official fund records. Data as of October 2026.
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