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% |
Historical figures are ETFHub estimates modelled from asset-class return patterns and may differ from official fund records. Data as of September 2026.
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