Summary
Fundamentals First ETF is an ETF - a fund traded on an exchange like a stock - run by Mason Capital. Positions inside: 90. The ten largest make up 24% of the fund.
- Yearly costs
- 1.10%
- Fund size
- $8.64M
- Positions
- 90
- Dividend yield
- 1.23%
- Running since
- 2024
What speaks for it
Nothing stands out in its favour.
What to watch
- Costs of 1.10% a year are above the middle of comparable funds (0.75%).
- A young fund: it has been running only since 2024.
- A small fund with $8.64M under management; small funds get closed more often.
- It trades little: only about $29.5K changes hands a day.
A fund has no Bulios Score and no Fair Price of its own - both are computed from the results of a single company. This page shows what is inside the fund and what it costs instead.
Price
Performance
- 1 month
- +0.3%
- 3 months
- -1.0%
- This year
- +12%
- 1 year
- +14%
- Avg. market cap
- $313.9B
- P/E
- 21.1x
- Forward P/E
- 18.3x
- P/S
- 1.9x
- P/B
- 3.8x
- P/FCF
- 20.9x
- EV/EBITDA
- 14.0x
- Dividend yield
- 2.32%
- ROIC
- 16.6%
- ROE
- 31.7%
- Gross margin
- 47.3%
- Operating margin
- 27.7%
- Net margin
- 22.6%
- Payout ratio
- 48.9%
- Net debt/EBITDA
- 1.5x
- Beta
- 0.58
Weighted average of the 50 largest companies, which make up 66% of the fund. Banks and insurers are left out of the gross margin, the ROIC and the EBITDA figures.
What is inside?
Widely spread- 1 JPMorgan 100% US Treasury Securities Money Market Fund 01/01/2054 6.0%
- 2 GOAlphabet GOOG 2.6%
- 3 TSTSMC TSM 2.5%
- 4 KLKLA KLAC 2.2%
- 5 LRLam Research LRCX 2.2%
- 6 IBiShares iBonds Dec 2029 Term Corporate ETF IBDU 1.8%
- 7 IBiShares iBonds Dec 2030 Term Corporate ETF IBDV 1.8%
- 8 GWW.W. Grainger GWW 1.8%
- 9 IBiShares iBonds Dec 2031 Term Corporate ETF IBDW 1.8%
- 10 IBiShares iBonds Dec 2032 Term Corporate ETF IBDX 1.8%
Positions in the fund: 90. The ten largest make up 24% of it.
Composition as of Oct 19, 2026.
Where is it spread?
Spread outBy sector
- Industrials 24%
- Energy 19%
- Technology 17%
- Financials 9.9%
- Basic materials 6.4%
- Other 23%
By country
- United States 68%
- Canada 6.0%
- France 5.2%
- Switzerland 4.8%
- Other countries 16%
By company size
- Mega cap 21%
- Large cap 53%
- Mid cap 15%
- Small cap 11%
- Micro cap 0.3%
By the company's market value: Mega cap from $200B, Large cap from $10B, Mid cap from $2B, Small cap from $300M, Micro cap below $300M. Counted from the companies that make up 79% of the fund.
Largest sector: Industrials (24%). Largest country: United States (68%). Largest size group: Large cap (53%).
What does it cost me?
Expensive- A year from $10,000
- $110
- Over 20 years
- $5,039
From every $10,000 invested the fund takes $110 a year. You do not pay it separately - it is taken out of the fund's value. Over 20 years at 5% yearly growth that adds up to about $5,039.
How has it done?
Growing over the long run- Over the last year
- +14%
- Deepest drop
- -17%
- Yearly volatility
- 9.6%
Growth over the last year: 14%. Deepest drop in these years: 17% below the earlier high.
Does it pay dividends?
Yes, it pays out- Yield
- 1.23%
- Payments a year
- 4
- Last payment
- $0.03
Over the last 12 months it paid $0.16 per share, which is 1.23% of today's price. The last payment was $0.03 on Sep 22, 2026.
Is it easy to buy and sell?
It trades little- Traded a day
- $29.5K
- Shares a day
- 2.3K
On an average day about $29.5K of the fund changes hands.
How expensive are the companies inside?
Usual valuation- P/E of the companies inside
- 21.1
- Average Bulios Score
- 71 out of 100
Weight by Bulios Fair Price
- Undervalued 25%
- Fairly valued 4.8%
- Overvalued 71%
On average the companies inside trade for 21.1 times their yearly profit. By Fair Price, 71% of the rated weight comes out as overvalued.
Counted from its largest companies (50), which make up 66% of the fund. Each company counts by its weight. We use the metrics, the Bulios Score and the Fair Price of the companies themselves.