FLQM vs TMSL: Differences, Returns & Fees
FLQM and TMSL hold 10% of their weight in the same names, and TMSL returned +16.9% over the year. Net assets on Oct 20, 2026: $1.5bn for Franklin U.S. Mid Cap Multifactor Index ETF and $3.1bn for T. Rowe Price Small-Mid Cap ETF.
FLQM costs 0.25 points a year less; their one-year returns differ by 6.6 points; TMSL is 2.1 times larger.
| FLQM | TMSL | |
|---|---|---|
| Expense ratio | 0.30% | 0.55% |
| Net assets | $1.5bn | $3.1bn |
| Total return, 1 year | +10.3% | +16.9% |
| What it tracks | not read by ETFIQ | No index, actively managed |
| Holdings in common | 10% | |
| Top ten holdings, share of the fund | 11.3% | 9.8% |
| Below its high | 8.3%, high on Aug 14, 2026 | |
Holdings in common uses holdings dated Jun 30, 2026.
FLQM and TMSL are built for the same job. How do they differ in cost, holdings and results?
- What each follows. FLQM follows not read by ETFIQ and TMSL follows No index, actively managed.
- Holdings in common. 10% of the weight is in the same securities (holdings dated Jun 30, 2026).
- One-year total return. Over 1 year to Oct 20, 2026 FLQM returned +10.3% and TMSL +16.9% with distributions reinvested, a gap of 6.6 points.
Data as of Oct 20, 2026. The differences are picked by a fixed rule, in a fixed order; the PDF prints it. Page 2 has the returns, overlap, risks and sources.
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What they hold in common
By the books each fund has filed, FLQM and TMSL hold 10% of their money in the same securities at the same weight. Holdings dated Jun 30, 2026.
half
10% in common
On the same fields
FLQM and TMSL on the fields both publish, as of Oct 20, 2026. Source: ETFIQ.
About FLQM
FLQM tracks an index. Over the year to Oct 20, 2026 it returned +10.3% with distributions reinvested. The prospectus expense ratio is 0.30% a year. By its holdings filed for Jun 30, 2026, 68% of the fund by weight is stocks the S&P 500 also holds, across 205 positions, with the top ten at 11.3%.
About TMSL
TMSL is actively managed and tracks no index. The prospectus expense ratio is 0.55% a year. By its holdings filed for Jun 30, 2026, 15% of the fund by weight is stocks the S&P 500 also holds, across 297 positions, with the top ten at 9.8%. It sat 8.3% below its high of Aug 14, 2026 on Oct 20, 2026.
Over the year to Oct 20, 2026 it returned +16.9% with distributions reinvested, against +15.0% for its benchmark, the Russell 3000 Index.
Questions people ask
- Which returned more over the last year, FLQM or TMSL?
- In the year to Oct 20, 2026, with distributions reinvested, FLQM returned +10.3% and TMSL +16.9%.
- Which is cheaper, FLQM or TMSL?
- FLQM is cheaper, by 0.25 percentage points a year. That is about $25 on $10,000 held for a year. Fees come from each fund's prospectus.
ETFIQ links to the documents behind every figure; a link is not an endorsement. A comparison is not a recommendation.
How this is computed
Overlap adds up the smaller of the two weights for each security both funds hold.
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ETFIQ, FLQM against TMSL, data as of Oct 20, 2026. https://etfiq.com/compare/any/flqm-vs-tmsl
ETFIQ. (Oct 20, 2026). FLQM against TMSL. Retrieved from https://etfiq.com/compare/any/flqm-vs-tmsl
[FLQM against TMSL (ETFIQ, Oct 20, 2026)](https://etfiq.com/compare/any/flqm-vs-tmsl)
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