{"id":235951,"date":"2025-05-11T05:51:19","date_gmt":"2025-05-11T05:51:19","guid":{"rendered":"https:\/\/peraltafinancing.com\/business\/investing\/an-update-on-fundsmith-equity-funds-returns-versus-other-quality-funds\/"},"modified":"2025-05-11T05:51:19","modified_gmt":"2025-05-11T05:51:19","slug":"an-update-on-fundsmith-equity-funds-returns-versus-other-quality-funds","status":"publish","type":"post","link":"https:\/\/fivemor.com\/?p=235951","title":{"rendered":"An Update on FundSmith Equity Fund&#8217;s Returns (Versus other Quality Funds)"},"content":{"rendered":"<p> <br \/>\n<\/p>\n<div>\n<aside class=\"mashsb-container mashsb-main mashsb-stretched\">\n                <\/aside>\n<p>            <!-- Share buttons by mashshare.net - Version: 4.0.47--><\/p>\n<p>My colleague Vincent was wondering about how is Fundsmith Equity Fund\u2019s performance over this period. <\/p>\n<p>So this is a returns update for a friend and co-worker.<\/p>\n<p>I last review Fundsmith Equity Fund\u2019s performance in Sep 2023, so that is almost 2 years ago. This is a fund that is pretty popularly sold by financial advisers, notably in an Investment Linked policy structure. I guess the main reason is good recent performance makes the product sell itself. <\/p>\n<p>You can read more of the post here: <a href=\"https:\/\/investmentmoats.com\/money\/fundsmith-equity-funds-performance\/\">My Review of Fundsmith Equity Fund\u2019s Performance<\/a><\/p>\n<p>In the article, I compare the fund against what I think are the right comparables. Terry Smith has a quality + value and buy and make little adjustments philosophy and he has shown coherence to that philosophy over the years. <\/p>\n<p>I won\u2019t go too much into explaining quality, profitability, and value so this article is more of an update of the performance. <\/p>\n<p>We will have:<\/p>\n<ol class=\"wp-block-list\">\n<li>Full year 2023 and 2024<\/li>\n<li>First 4 months of 2025<\/li>\n<\/ol>\n<p>Performances to update. <\/p>\n<p>So here are the performances:<\/p>\n<figure class=\"wp-block-image size-large\"><a href=\"https:\/\/investmentmoats.com\/wp-content\/uploads\/2025\/05\/2025.05.11-Fundsmith-Equity-Fund-Performance-1.png\"><img fetchpriority=\"high\" decoding=\"async\" width=\"1024\" height=\"250\" src=\"https:\/\/investmentmoats.com\/wp-content\/uploads\/2025\/05\/2025.05.11-Fundsmith-Equity-Fund-Performance-1-1024x250.png\" alt=\"\" class=\"wp-image-21184\" srcset=\"https:\/\/investmentmoats.com\/wp-content\/uploads\/2025\/05\/2025.05.11-Fundsmith-Equity-Fund-Performance-1-1024x250.png 1024w, https:\/\/investmentmoats.com\/wp-content\/uploads\/2025\/05\/2025.05.11-Fundsmith-Equity-Fund-Performance-1-300x73.png 300w, https:\/\/investmentmoats.com\/wp-content\/uploads\/2025\/05\/2025.05.11-Fundsmith-Equity-Fund-Performance-1-768x188.png 768w, https:\/\/investmentmoats.com\/wp-content\/uploads\/2025\/05\/2025.05.11-Fundsmith-Equity-Fund-Performance-1-2048x500.png 2048w, https:\/\/investmentmoats.com\/wp-content\/uploads\/2025\/05\/2025.05.11-Fundsmith-Equity-Fund-Performance-1-960x235.png 960w, https:\/\/investmentmoats.com\/wp-content\/uploads\/2025\/05\/2025.05.11-Fundsmith-Equity-Fund-Performance-1-1080x264.png 1080w, https:\/\/investmentmoats.com\/wp-content\/uploads\/2025\/05\/2025.05.11-Fundsmith-Equity-Fund-Performance-1-1200x293.png 1200w\" sizes=\"(max-width: 760px) calc(100vw - 24px), 720px\"\/><img fetchpriority=\"high\" decoding=\"async\" width=\"1024\" height=\"250\" alt=\"\" class=\"wp-image-21184 eager-load\" sizes=\"(max-width: 760px) calc(100vw - 24px), 720px\" data-pin-media=\"https:\/\/investmentmoats.com\/wp-content\/uploads\/2025\/05\/2025.05.11-Fundsmith-Equity-Fund-Performance-1.png\" id=\"mv-trellis-img-1\" loading=\"eager\" src=\"https:\/\/investmentmoats.com\/wp-content\/uploads\/2025\/05\/2025.05.11-Fundsmith-Equity-Fund-Performance-1-1024x250.png.webp\" srcset=\"https:\/\/investmentmoats.com\/wp-content\/uploads\/2025\/05\/2025.05.11-Fundsmith-Equity-Fund-Performance-1-1024x250.png.webp 1024w, https:\/\/investmentmoats.com\/wp-content\/uploads\/2025\/05\/2025.05.11-Fundsmith-Equity-Fund-Performance-1-300x73.png.webp 300w, https:\/\/investmentmoats.com\/wp-content\/uploads\/2025\/05\/2025.05.11-Fundsmith-Equity-Fund-Performance-1-768x188.png.webp 768w, https:\/\/investmentmoats.com\/wp-content\/uploads\/2025\/05\/2025.05.11-Fundsmith-Equity-Fund-Performance-1-2048x500.png.webp 2048w, https:\/\/investmentmoats.com\/wp-content\/uploads\/2025\/05\/2025.05.11-Fundsmith-Equity-Fund-Performance-1-960x235.png.webp 960w, https:\/\/investmentmoats.com\/wp-content\/uploads\/2025\/05\/2025.05.11-Fundsmith-Equity-Fund-Performance-1-1080x264.png 1080w, https:\/\/investmentmoats.com\/wp-content\/uploads\/2025\/05\/2025.05.11-Fundsmith-Equity-Fund-Performance-1-1200x293.png.webp 1200w\" data-svg=\"1\" data-trellis-processed=\"1\"\/><\/a><figcaption class=\"wp-element-caption\">Click to view a larger table.<\/figcaption><\/figure>\n<p>I think it is a bit small and I know some of you might not be able to click into it so let me split it up:<\/p>\n<figure class=\"wp-block-image size-large\"><a href=\"https:\/\/investmentmoats.com\/wp-content\/uploads\/2025\/05\/2025.05.11-Fundsmith-Equity-Fund-Performance-3.png\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"458\" src=\"https:\/\/investmentmoats.com\/wp-content\/uploads\/2025\/05\/2025.05.11-Fundsmith-Equity-Fund-Performance-3-1024x458.png\" alt=\"\" class=\"wp-image-21186\" srcset=\"https:\/\/investmentmoats.com\/wp-content\/uploads\/2025\/05\/2025.05.11-Fundsmith-Equity-Fund-Performance-3-1024x458.png 1024w, https:\/\/investmentmoats.com\/wp-content\/uploads\/2025\/05\/2025.05.11-Fundsmith-Equity-Fund-Performance-3-300x134.png 300w, https:\/\/investmentmoats.com\/wp-content\/uploads\/2025\/05\/2025.05.11-Fundsmith-Equity-Fund-Performance-3-768x343.png 768w, https:\/\/investmentmoats.com\/wp-content\/uploads\/2025\/05\/2025.05.11-Fundsmith-Equity-Fund-Performance-3-960x429.png 960w, https:\/\/investmentmoats.com\/wp-content\/uploads\/2025\/05\/2025.05.11-Fundsmith-Equity-Fund-Performance-3-1080x483.png 1080w, https:\/\/investmentmoats.com\/wp-content\/uploads\/2025\/05\/2025.05.11-Fundsmith-Equity-Fund-Performance-3-1200x537.png 1200w, https:\/\/investmentmoats.com\/wp-content\/uploads\/2025\/05\/2025.05.11-Fundsmith-Equity-Fund-Performance-3.png 1572w\" sizes=\"auto, (max-width: 760px) calc(100vw - 24px), 720px\"\/><img decoding=\"async\" width=\"1024\" height=\"458\" src=\"https:\/\/investmentmoats.com\/wp-content\/uploads\/2025\/05\/2025.05.11-Fundsmith-Equity-Fund-Performance-3-1024x458.png\" alt=\"\" class=\"wp-image-21186 lazyload\" srcset=\"https:\/\/investmentmoats.com\/wp-content\/uploads\/2025\/05\/2025.05.11-Fundsmith-Equity-Fund-Performance-3-1024x458.png 1024w, https:\/\/investmentmoats.com\/wp-content\/uploads\/2025\/05\/2025.05.11-Fundsmith-Equity-Fund-Performance-3-300x134.png 300w, https:\/\/investmentmoats.com\/wp-content\/uploads\/2025\/05\/2025.05.11-Fundsmith-Equity-Fund-Performance-3-768x343.png 768w, https:\/\/investmentmoats.com\/wp-content\/uploads\/2025\/05\/2025.05.11-Fundsmith-Equity-Fund-Performance-3-960x429.png 960w, https:\/\/investmentmoats.com\/wp-content\/uploads\/2025\/05\/2025.05.11-Fundsmith-Equity-Fund-Performance-3-1080x483.png 1080w, https:\/\/investmentmoats.com\/wp-content\/uploads\/2025\/05\/2025.05.11-Fundsmith-Equity-Fund-Performance-3-1200x537.png 1200w, https:\/\/investmentmoats.com\/wp-content\/uploads\/2025\/05\/2025.05.11-Fundsmith-Equity-Fund-Performance-3.png 1572w\" sizes=\"auto, (max-width: 760px) calc(100vw - 24px), 720px\" data-pin-media=\"https:\/\/investmentmoats.com\/wp-content\/uploads\/2025\/05\/2025.05.11-Fundsmith-Equity-Fund-Performance-3.png\" id=\"mv-trellis-img-2\" loading=\"lazy\" data-trellis-processed=\"1\"\/><\/a><\/figure>\n<figure class=\"wp-block-image size-large\"><a href=\"https:\/\/investmentmoats.com\/wp-content\/uploads\/2025\/05\/2025.05.11-Fundsmith-Equity-Fund-Performance-4.png\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"497\" src=\"https:\/\/investmentmoats.com\/wp-content\/uploads\/2025\/05\/2025.05.11-Fundsmith-Equity-Fund-Performance-4-1024x497.png\" alt=\"\" class=\"wp-image-21187\" srcset=\"https:\/\/investmentmoats.com\/wp-content\/uploads\/2025\/05\/2025.05.11-Fundsmith-Equity-Fund-Performance-4-1024x497.png 1024w, https:\/\/investmentmoats.com\/wp-content\/uploads\/2025\/05\/2025.05.11-Fundsmith-Equity-Fund-Performance-4-300x146.png 300w, https:\/\/investmentmoats.com\/wp-content\/uploads\/2025\/05\/2025.05.11-Fundsmith-Equity-Fund-Performance-4-768x373.png 768w, https:\/\/investmentmoats.com\/wp-content\/uploads\/2025\/05\/2025.05.11-Fundsmith-Equity-Fund-Performance-4-960x466.png 960w, https:\/\/investmentmoats.com\/wp-content\/uploads\/2025\/05\/2025.05.11-Fundsmith-Equity-Fund-Performance-4-1080x525.png 1080w, https:\/\/investmentmoats.com\/wp-content\/uploads\/2025\/05\/2025.05.11-Fundsmith-Equity-Fund-Performance-4-1200x583.png 1200w, https:\/\/investmentmoats.com\/wp-content\/uploads\/2025\/05\/2025.05.11-Fundsmith-Equity-Fund-Performance-4.png 1447w\" sizes=\"auto, (max-width: 760px) calc(100vw - 24px), 720px\"\/><img decoding=\"async\" width=\"1024\" height=\"497\" src=\"https:\/\/investmentmoats.com\/wp-content\/uploads\/2025\/05\/2025.05.11-Fundsmith-Equity-Fund-Performance-4-1024x497.png.webp\" alt=\"\" class=\"wp-image-21187 lazyload\" srcset=\"https:\/\/investmentmoats.com\/wp-content\/uploads\/2025\/05\/2025.05.11-Fundsmith-Equity-Fund-Performance-4-1024x497.png.webp 1024w, https:\/\/investmentmoats.com\/wp-content\/uploads\/2025\/05\/2025.05.11-Fundsmith-Equity-Fund-Performance-4-300x146.png.webp 300w, https:\/\/investmentmoats.com\/wp-content\/uploads\/2025\/05\/2025.05.11-Fundsmith-Equity-Fund-Performance-4-768x373.png.webp 768w, https:\/\/investmentmoats.com\/wp-content\/uploads\/2025\/05\/2025.05.11-Fundsmith-Equity-Fund-Performance-4-960x466.png.webp 960w, https:\/\/investmentmoats.com\/wp-content\/uploads\/2025\/05\/2025.05.11-Fundsmith-Equity-Fund-Performance-4-1080x525.png.webp 1080w, https:\/\/investmentmoats.com\/wp-content\/uploads\/2025\/05\/2025.05.11-Fundsmith-Equity-Fund-Performance-4-1200x583.png.webp 1200w, https:\/\/investmentmoats.com\/wp-content\/uploads\/2025\/05\/2025.05.11-Fundsmith-Equity-Fund-Performance-4.png.webp 1447w\" sizes=\"auto, (max-width: 760px) calc(100vw - 24px), 720px\" data-pin-media=\"https:\/\/investmentmoats.com\/wp-content\/uploads\/2025\/05\/2025.05.11-Fundsmith-Equity-Fund-Performance-4.png\" id=\"mv-trellis-img-3\" loading=\"lazy\" data-trellis-processed=\"1\"\/><\/a><\/figure>\n<p>Perhaps some introduction is in order. I can benchmark and compare Fundsmith with a few factor indexes that systematically selects companies that exhibit quality characteristics such as low debt to equity, debt to assets, high return on equity, high return on assets, consistent earnings.  There are also systematic indexes that selects companies that have higher profitability such as (operating earnings \u2013 interest expense) divide by book value, or 5-years of consistent dividend raises. <\/p>\n<p>There are funds or ETFs that are available to you that you can invest in. <\/p>\n<p>So here is what is presented:<\/p>\n<ol class=\"wp-block-list\">\n<li>MSCI USA Sector Neutral Quality Index \u2013 <a href=\"https:\/\/www.ishares.com\/uk\/individual\/en\/products\/285209\/ishares-edge-msci-usa-quality-factor-ucits-etf-usd-acc-fund\">IUQA <\/a>via <a href=\"https:\/\/www.interactivebrokers.com.sg\/mkt\/?src=imoats3\">IBKR<\/a><\/li>\n<li>MSCI World Sector Neutral Quality Index \u2013 <a href=\"https:\/\/www.ishares.com\/uk\/individual\/en\/products\/270054\/ishares-msci-world-quality-factor-ucits-etf\">IWQU <\/a>via <a href=\"https:\/\/www.interactivebrokers.com.sg\/mkt\/?src=imoats3\">IBKR<\/a><\/li>\n<li>GMO Quality Investment Fund \u2013 <a href=\"https:\/\/endowus.com\/investment-funds-list\/gmo-quality-investment-fund-IE00B3SBSR82\">Fund <\/a>via <a href=\"https:\/\/endowus.com\/r?code=INVESTMOAT_97WUPRC54E\">Endowus<\/a><\/li>\n<li>DFA US Hi Relative Profitability Index \u2013 Mutual Fund not available to Singaporeans<\/li>\n<li>Dimensional Global Large Cap High Profitability Index \u2013 Research Index not available.<\/li>\n<li>WisdomTree US Quality Dividend Growth UCITS ETF \u2013 <a href=\"https:\/\/www.wisdomtree.eu\/en-gb\/etfs\/quality-dividend-growth\/wisdomtree-us-quality-dividend-growth-ucits-etf-usd-acc\">DGRA <\/a>via <a href=\"https:\/\/www.interactivebrokers.com.sg\/mkt\/?src=imoats3\">IBKR<\/a><\/li>\n<li>WisdomTree Global Quality Dividend Growth UCITS ETF \u2013 <a href=\"https:\/\/www.wisdomtree.eu\/en-gb\/etfs\/quality-dividend-growth\/wisdomtree-global-quality-dividend-growth-ucits-etf-usd-acc\">GGRA <\/a>via <a href=\"https:\/\/www.interactivebrokers.com.sg\/mkt\/?src=imoats3\">IBKR<\/a><\/li>\n<\/ol>\n<p>Out of all this, GGRA is in <a href=\"https:\/\/investmentmoats.com\/notes\/daedalus-income-portfolio-update-april-2025\/\">Daedalus Income Fund<\/a> as a strategic holding. A Note is that we don\u2019t have the April 2025 data for GMO Quality Investment Fund so we don\u2019t have any performance for the fund in 2025.<\/p>\n<p>We have about 6 full years of calendar years so we can see the cumulative and annualized returns. Fundsmith Equity Fund returns are in GBP, so I did some currency conversion. <\/p>\n<p>Usually, if we use a quality and profitability screen to select stocks, you end up with healthcare, consumer staples and information technology dominant allocation. The price earnings of the overall portfolio tends to be high as well. <\/p>\n<p>And in the past year the performance of healthcare and information technology have been the opposite. Performance in US is also better than International. <\/p>\n<p>Those funds with better performance tend to be less healthcare, more information technology, more US focus. <\/p>\n<p>But as you can see, those with international exposure, the global funds did better in the first four months of the year.<\/p>\n<p>I think Vincent would be interested in the corresponding performance of the Dimensional Global Core Equity and the MSCI World Index for the period, so I presented this below:<\/p>\n<figure class=\"wp-block-image size-large\"><a href=\"https:\/\/investmentmoats.com\/wp-content\/uploads\/2025\/05\/2025.05.11-Fundsmith-Equity-Fund-Performance-2.png\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"585\" src=\"https:\/\/investmentmoats.com\/wp-content\/uploads\/2025\/05\/2025.05.11-Fundsmith-Equity-Fund-Performance-2-1024x585.png\" alt=\"\" class=\"wp-image-21185\" srcset=\"https:\/\/investmentmoats.com\/wp-content\/uploads\/2025\/05\/2025.05.11-Fundsmith-Equity-Fund-Performance-2-1024x585.png 1024w, https:\/\/investmentmoats.com\/wp-content\/uploads\/2025\/05\/2025.05.11-Fundsmith-Equity-Fund-Performance-2-300x171.png 300w, https:\/\/investmentmoats.com\/wp-content\/uploads\/2025\/05\/2025.05.11-Fundsmith-Equity-Fund-Performance-2-768x439.png 768w, https:\/\/investmentmoats.com\/wp-content\/uploads\/2025\/05\/2025.05.11-Fundsmith-Equity-Fund-Performance-2-960x549.png 960w, https:\/\/investmentmoats.com\/wp-content\/uploads\/2025\/05\/2025.05.11-Fundsmith-Equity-Fund-Performance-2-1080x617.png 1080w, https:\/\/investmentmoats.com\/wp-content\/uploads\/2025\/05\/2025.05.11-Fundsmith-Equity-Fund-Performance-2.png 1118w\" sizes=\"auto, (max-width: 760px) calc(100vw - 24px), 720px\"\/><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"585\" src=\"https:\/\/investmentmoats.com\/wp-content\/uploads\/2025\/05\/2025.05.11-Fundsmith-Equity-Fund-Performance-2-1024x585.png\" alt=\"\" class=\"wp-image-21185 lazyload\" srcset=\"https:\/\/investmentmoats.com\/wp-content\/uploads\/2025\/05\/2025.05.11-Fundsmith-Equity-Fund-Performance-2-1024x585.png 1024w, https:\/\/investmentmoats.com\/wp-content\/uploads\/2025\/05\/2025.05.11-Fundsmith-Equity-Fund-Performance-2-300x171.png 300w, https:\/\/investmentmoats.com\/wp-content\/uploads\/2025\/05\/2025.05.11-Fundsmith-Equity-Fund-Performance-2-768x439.png 768w, https:\/\/investmentmoats.com\/wp-content\/uploads\/2025\/05\/2025.05.11-Fundsmith-Equity-Fund-Performance-2-960x549.png 960w, https:\/\/investmentmoats.com\/wp-content\/uploads\/2025\/05\/2025.05.11-Fundsmith-Equity-Fund-Performance-2-1080x617.png 1080w, https:\/\/investmentmoats.com\/wp-content\/uploads\/2025\/05\/2025.05.11-Fundsmith-Equity-Fund-Performance-2.png 1118w\" sizes=\"auto, (max-width: 760px) calc(100vw - 24px), 720px\" data-pin-media=\"https:\/\/investmentmoats.com\/wp-content\/uploads\/2025\/05\/2025.05.11-Fundsmith-Equity-Fund-Performance-2.png\" id=\"mv-trellis-img-4\" data-trellis-processed=\"1\"\/><\/a><\/figure>\n<p>I have also added the Dimensional US High Profitability ETF (DUHP) to the mix. DUHP is a US-listed ETF by Dimensional that systematically curates the companies that exhibit higher profitability. It did not have such a long history but I thought its good to put it out here for readers to take note. <\/p>\n<p>So of course you can get access to these funds:<\/p>\n<ol class=\"wp-block-list\">\n<li>Dimensional Global Core Equity \u2013 <a href=\"https:\/\/endowus.com\/investment-funds-list\/dimensional-global-core-equity-fund-IE00BF20L879\">Fund <\/a>via <a href=\"https:\/\/endowus.com\/r?code=INVESTMOAT_97WUPRC54E\">Endowus<\/a><\/li>\n<li>MSCI World \u2013 <a href=\"https:\/\/www.ishares.com\/uk\/individual\/en\/products\/251882\/ishares-msci-world-ucits-etf-acc-fund\">SWDA <\/a>via <a href=\"https:\/\/www.interactivebrokers.com.sg\/mkt\/?src=imoats3\">IBKR<\/a><\/li>\n<li>Dimensional US High Profitability ETF \u2013 <a href=\"https:\/\/www.dimensional.com\/us-en\/funds\/duhp\/us-high-profitability-etf\">DUHP <\/a>via <a href=\"https:\/\/www.interactivebrokers.com.sg\/mkt\/?src=imoats3\">IBKR<\/a><\/li>\n<\/ol>\n<p>The underlying message may be: If you have an investment philosophy that we should systematically invest in companies that exhibit higher quality characteristics, there are many options out there that are accessible to you.<\/p>\n<hr class=\"wp-block-separator has-alpha-channel-opacity\"\/>\n<p>If you want to trade these stocks I mentioned, you can open an account with <strong><a href=\"https:\/\/www.interactivebrokers.com.sg\/mkt\/?src=imoats3\" target=\"_blank\" rel=\"noreferrer noopener\">Interactive Brokers<\/a><\/strong>.  Interactive Brokers is the leading low-cost and efficient broker I use and trust to invest &amp; trade my holdings in Singapore, the United States, London Stock Exchange and Hong Kong Stock Exchange. They allow you to trade stocks, ETFs, options, futures, forex, bonds and funds worldwide from a single integrated account.<\/p>\n<p>You can read more about my thoughts about Interactive Brokers in<strong><a href=\"https:\/\/investmentmoats.com\/money\/easy-step-by-step-guide-setup-interactive-brokers-ibkr\/\" target=\"_blank\" rel=\"noreferrer noopener\"> this Interactive Brokers Deep Dive Series,<\/a><\/strong> starting with how to create &amp; fund your Interactive Brokers account easily.<\/p>\n<div class=\"abh_box abh_box_down abh_box_business\">\n<div class=\"abh_tab_content\">\n<section class=\"vcard author abh_about_tab abh_tab\" itemscope=\"\" itemprop=\"author\" itemtype=\"https:\/\/schema.org\/Person\" style=\"display:block\">\n<div class=\"abh_image\" itemscope=\"\" itemtype=\"https:\/\/schema.org\/ImageObject\"><a href=\"https:\/\/investmentmoats.com\" class=\"url\" target=\"_blank\" title=\"Kyith\" rel=\"nofollow\"> <img loading=\"lazy\" decoding=\"async\" alt=\"Kyith\" src=\"https:\/\/secure.gravatar.com\/avatar\/45505b1c31457398ff6b9ba5009d0a78?s=250&amp;r=g\" srcset=\"https:\/\/secure.gravatar.com\/avatar\/45505b1c31457398ff6b9ba5009d0a78?s=500&amp;r=g 2x\" class=\"avatar avatar-250 photo\" height=\"250\" width=\"250\"\/><img decoding=\"async\" alt=\"Kyith\" src=\"https:\/\/secure.gravatar.com\/avatar\/45505b1c31457398ff6b9ba5009d0a78?s=250&amp;r=g\" srcset=\"https:\/\/secure.gravatar.com\/avatar\/45505b1c31457398ff6b9ba5009d0a78?s=500&amp;r=g 2x\" class=\"avatar avatar-250 photo lazyload\" height=\"250\" width=\"250\" data-mvt-skip=\"src\" loading=\"lazy\" data-trellis-processed=\"1\"\/><\/a> <\/div>\n<div class=\"abh_text\">\n<div class=\"description note abh_description\" itemprop=\"description\">\n<p>Kyith is the Owner and Sole Writer behind Investment Moats. Readers tune in to Investment Moats to learn and build stronger, firmer wealth foundations, how to have a Passive investment strategy, know more about investing in REITs and the nuts and bolts of Active Investing.<\/p>\n<p>Readers also follow Kyith to learn how to plan well for Financial Security and Financial Independence.<\/p>\n<p>Kyith worked as an IT operations engineer from 2004 to 2019. Currently, he works as a Senior Solutions Specialist in Insurance Start-up Havend. All opinions on Investment Moats are his own and does not represent the views of Providend.<\/p>\n<p>You can view <a href=\"https:\/\/investmentmoats.com\/StockPortfolioTracker\/stockportfolioinvestmenttracker.php\"><b>Kyith&#8217;s current portfolio here<\/b><\/a>, which uses his <a href=\"https:\/\/investmentmoats.com\/stock-market-commentary\/portfolio-management\/introducing-our-free-stock-portfolio-tracker-spreadsheet\/\"><b>Free Google Stock Portfolio Tracker<\/b><\/a>. <\/p>\n<p>His investment broker of choice is <a href=\"https:\/\/www.interactivebrokers.com.sg\/mkt\/?src=imoats3\"><b>Interactive Brokers<\/b><\/a>, which allows him to invest in securities from different exchanges all over the world, at very low commission rates, without custodian fees, near spot currency rates.<\/p>\n<p>You can read more <a href=\"https:\/\/investmentmoats.com\/about\/\">about Kyith here<\/a>.<\/p>\n<\/div>\n<\/div>\n<\/section>\n<section class=\"abh_posts_tab abh_tab\">\n<div class=\"abh_image\"><a href=\"https:\/\/investmentmoats.com\" class=\"url\" target=\"_blank\" title=\"Kyith\" rel=\"nofollow\"><img loading=\"lazy\" decoding=\"async\" alt=\"Kyith\" src=\"https:\/\/secure.gravatar.com\/avatar\/45505b1c31457398ff6b9ba5009d0a78?s=250&amp;r=g\" srcset=\"https:\/\/secure.gravatar.com\/avatar\/45505b1c31457398ff6b9ba5009d0a78?s=500&amp;r=g 2x\" class=\"avatar avatar-250 photo\" height=\"250\" width=\"250\"\/><img decoding=\"async\" alt=\"Kyith\" src=\"https:\/\/secure.gravatar.com\/avatar\/45505b1c31457398ff6b9ba5009d0a78?s=250&amp;r=g\" srcset=\"https:\/\/secure.gravatar.com\/avatar\/45505b1c31457398ff6b9ba5009d0a78?s=500&amp;r=g 2x\" class=\"avatar avatar-250 photo lazyload\" height=\"250\" width=\"250\" data-mvt-skip=\"src\" loading=\"lazy\" data-trellis-processed=\"1\"\/><\/a><\/div>\n<\/section>\n<\/div><\/div>\n<aside class=\"mashsb-container mashsb-main mashsb-stretched\">\n                <\/aside>\n<p>            <!-- Share buttons by mashshare.net - Version: 4.0.47--><!-- CONTENT END 2 -->\n\t\t\t<\/div>\n<p><script>(function(d, s, id) {\n  var js, fjs = d.getElementsByTagName(s)[0];\n  if (d.getElementById(id)) return;\n  js = d.createElement(s); js.id = id;\n  js.src = \\\"\/\/connect.facebook.net\/en_US\/all.js#xfbml=1&amp;appId=138893592824587\\\";\n  fjs.parentNode.insertBefore(js, fjs);\n}(document, \\'script\\', \\'facebook-jssdk\\'));<\/script><br \/>\n<br \/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>My colleague Vincent was wondering about how is Fundsmith Equity Fund\u2019s performance over this period. So this is a returns update for a friend and co-worker. I last review Fundsmith Equity Fund\u2019s performance in Sep 2023, so that is almost 2 years ago. This is a fund that is pretty popularly sold by financial advisers, [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":235952,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[96],"tags":[13746,11257,87374,248,10970,4238],"dealstore":[],"offerexpiration":[],"class_list":["post-235951","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-investing","tag-equity","tag-funds","tag-fundsmith","tag-quality","tag-returns","tag-update"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.4 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>An Update on FundSmith Equity Fund&#039;s Returns (Versus other Quality Funds) - Som2ny Network<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/fivemor.com\/?p=235951\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"An Update on FundSmith Equity Fund&#039;s Returns (Versus other Quality Funds) - Som2ny Network\" \/>\n<meta property=\"og:description\" content=\"My colleague Vincent was wondering about how is Fundsmith Equity Fund\u2019s performance over this period. So this is a returns update for a friend and co-worker. I last review Fundsmith Equity Fund\u2019s performance in Sep 2023, so that is almost 2 years ago. This is a fund that is pretty popularly sold by financial advisers, [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/fivemor.com\/?p=235951\" \/>\n<meta property=\"og:site_name\" content=\"Som2ny Network\" \/>\n<meta property=\"article:published_time\" content=\"2025-05-11T05:51:19+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/fivemor.com\/wp-content\/uploads\/2025\/05\/2025.05.11-Fundsmith-Equity-Fund-Performance-4.png\" \/>\n\t<meta property=\"og:image:width\" content=\"1447\" \/>\n\t<meta property=\"og:image:height\" content=\"703\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/png\" \/>\n<meta name=\"author\" content=\"admin\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"admin\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"5 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/fivemor.com\/?p=235951#article\",\"isPartOf\":{\"@id\":\"https:\/\/fivemor.com\/?p=235951\"},\"author\":{\"name\":\"admin\",\"@id\":\"https:\/\/fivemor.com\/#\/schema\/person\/b85e3c3dc0e1daea076524dc8810c371\"},\"headline\":\"An Update on FundSmith Equity Fund&#8217;s Returns (Versus other Quality Funds)\",\"datePublished\":\"2025-05-11T05:51:19+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/fivemor.com\/?p=235951\"},\"wordCount\":947,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\/\/fivemor.com\/#organization\"},\"image\":{\"@id\":\"https:\/\/fivemor.com\/?p=235951#primaryimage\"},\"thumbnailUrl\":\"https:\/\/fivemor.com\/wp-content\/uploads\/2025\/05\/2025.05.11-Fundsmith-Equity-Fund-Performance-4.png\",\"keywords\":[\"equity\",\"Funds\",\"FundSmith\",\"Quality\",\"Returns\",\"Update\"],\"articleSection\":[\"Investing\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/fivemor.com\/?p=235951#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/fivemor.com\/?p=235951\",\"url\":\"https:\/\/fivemor.com\/?p=235951\",\"name\":\"An Update on FundSmith Equity Fund's Returns (Versus other Quality Funds) - Som2ny Network\",\"isPartOf\":{\"@id\":\"https:\/\/fivemor.com\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/fivemor.com\/?p=235951#primaryimage\"},\"image\":{\"@id\":\"https:\/\/fivemor.com\/?p=235951#primaryimage\"},\"thumbnailUrl\":\"https:\/\/fivemor.com\/wp-content\/uploads\/2025\/05\/2025.05.11-Fundsmith-Equity-Fund-Performance-4.png\",\"datePublished\":\"2025-05-11T05:51:19+00:00\",\"breadcrumb\":{\"@id\":\"https:\/\/fivemor.com\/?p=235951#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/fivemor.com\/?p=235951\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/fivemor.com\/?p=235951#primaryimage\",\"url\":\"https:\/\/fivemor.com\/wp-content\/uploads\/2025\/05\/2025.05.11-Fundsmith-Equity-Fund-Performance-4.png\",\"contentUrl\":\"https:\/\/fivemor.com\/wp-content\/uploads\/2025\/05\/2025.05.11-Fundsmith-Equity-Fund-Performance-4.png\",\"width\":1447,\"height\":703},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/fivemor.com\/?p=235951#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/fivemor.com\/?bp_activities=1\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"An Update on FundSmith Equity Fund&#8217;s Returns (Versus other Quality Funds)\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/fivemor.com\/#website\",\"url\":\"https:\/\/fivemor.com\/\",\"name\":\"Som2ny Network\",\"description\":\"Daily Deals\",\"publisher\":{\"@id\":\"https:\/\/fivemor.com\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/fivemor.com\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Organization\",\"@id\":\"https:\/\/fivemor.com\/#organization\",\"name\":\"Som2ny Network\",\"url\":\"https:\/\/fivemor.com\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/fivemor.com\/#\/schema\/logo\/image\/\",\"url\":\"https:\/\/fivemor.com\/wp-content\/uploads\/2026\/07\/4a0953c4-logo-300x86-1.png\",\"contentUrl\":\"https:\/\/fivemor.com\/wp-content\/uploads\/2026\/07\/4a0953c4-logo-300x86-1.png\",\"width\":300,\"height\":86,\"caption\":\"Som2ny Network\"},\"image\":{\"@id\":\"https:\/\/fivemor.com\/#\/schema\/logo\/image\/\"}},{\"@type\":\"Person\",\"@id\":\"https:\/\/fivemor.com\/#\/schema\/person\/b85e3c3dc0e1daea076524dc8810c371\",\"name\":\"admin\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/fivemor.com\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/729ae85bf62b9917e93538db2f2688ca?s=96&r=g&default=https%3A%2F%2Ffivemor.com%2Fwp-content%2Fplugins%2Fbuddypress-first-letter-avatar%2Fimages%2Fdefault%2F96%2Flatin_a.png\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/729ae85bf62b9917e93538db2f2688ca?s=96&r=g&default=https%3A%2F%2Ffivemor.com%2Fwp-content%2Fplugins%2Fbuddypress-first-letter-avatar%2Fimages%2Fdefault%2F96%2Flatin_a.png\",\"caption\":\"admin\"},\"sameAs\":[\"https:\/\/fivemor.com\"],\"url\":\"https:\/\/fivemor.com\/?author=1\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"An Update on FundSmith Equity Fund's Returns (Versus other Quality Funds) - Som2ny Network","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/fivemor.com\/?p=235951","og_locale":"en_US","og_type":"article","og_title":"An Update on FundSmith Equity Fund's Returns (Versus other Quality Funds) - Som2ny Network","og_description":"My colleague Vincent was wondering about how is Fundsmith Equity Fund\u2019s performance over this period. So this is a returns update for a friend and co-worker. I last review Fundsmith Equity Fund\u2019s performance in Sep 2023, so that is almost 2 years ago. This is a fund that is pretty popularly sold by financial advisers, [&hellip;]","og_url":"https:\/\/fivemor.com\/?p=235951","og_site_name":"Som2ny Network","article_published_time":"2025-05-11T05:51:19+00:00","og_image":[{"width":1447,"height":703,"url":"https:\/\/fivemor.com\/wp-content\/uploads\/2025\/05\/2025.05.11-Fundsmith-Equity-Fund-Performance-4.png","type":"image\/png"}],"author":"admin","twitter_card":"summary_large_image","twitter_misc":{"Written by":"admin","Est. reading time":"5 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/fivemor.com\/?p=235951#article","isPartOf":{"@id":"https:\/\/fivemor.com\/?p=235951"},"author":{"name":"admin","@id":"https:\/\/fivemor.com\/#\/schema\/person\/b85e3c3dc0e1daea076524dc8810c371"},"headline":"An Update on FundSmith Equity Fund&#8217;s Returns (Versus other Quality Funds)","datePublished":"2025-05-11T05:51:19+00:00","mainEntityOfPage":{"@id":"https:\/\/fivemor.com\/?p=235951"},"wordCount":947,"commentCount":0,"publisher":{"@id":"https:\/\/fivemor.com\/#organization"},"image":{"@id":"https:\/\/fivemor.com\/?p=235951#primaryimage"},"thumbnailUrl":"https:\/\/fivemor.com\/wp-content\/uploads\/2025\/05\/2025.05.11-Fundsmith-Equity-Fund-Performance-4.png","keywords":["equity","Funds","FundSmith","Quality","Returns","Update"],"articleSection":["Investing"],"inLanguage":"en-US","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/fivemor.com\/?p=235951#respond"]}]},{"@type":"WebPage","@id":"https:\/\/fivemor.com\/?p=235951","url":"https:\/\/fivemor.com\/?p=235951","name":"An Update on FundSmith Equity Fund's Returns (Versus other Quality Funds) - Som2ny Network","isPartOf":{"@id":"https:\/\/fivemor.com\/#website"},"primaryImageOfPage":{"@id":"https:\/\/fivemor.com\/?p=235951#primaryimage"},"image":{"@id":"https:\/\/fivemor.com\/?p=235951#primaryimage"},"thumbnailUrl":"https:\/\/fivemor.com\/wp-content\/uploads\/2025\/05\/2025.05.11-Fundsmith-Equity-Fund-Performance-4.png","datePublished":"2025-05-11T05:51:19+00:00","breadcrumb":{"@id":"https:\/\/fivemor.com\/?p=235951#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/fivemor.com\/?p=235951"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/fivemor.com\/?p=235951#primaryimage","url":"https:\/\/fivemor.com\/wp-content\/uploads\/2025\/05\/2025.05.11-Fundsmith-Equity-Fund-Performance-4.png","contentUrl":"https:\/\/fivemor.com\/wp-content\/uploads\/2025\/05\/2025.05.11-Fundsmith-Equity-Fund-Performance-4.png","width":1447,"height":703},{"@type":"BreadcrumbList","@id":"https:\/\/fivemor.com\/?p=235951#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/fivemor.com\/?bp_activities=1"},{"@type":"ListItem","position":2,"name":"An Update on FundSmith Equity Fund&#8217;s Returns (Versus other Quality Funds)"}]},{"@type":"WebSite","@id":"https:\/\/fivemor.com\/#website","url":"https:\/\/fivemor.com\/","name":"Som2ny Network","description":"Daily Deals","publisher":{"@id":"https:\/\/fivemor.com\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/fivemor.com\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/fivemor.com\/#organization","name":"Som2ny Network","url":"https:\/\/fivemor.com\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/fivemor.com\/#\/schema\/logo\/image\/","url":"https:\/\/fivemor.com\/wp-content\/uploads\/2026\/07\/4a0953c4-logo-300x86-1.png","contentUrl":"https:\/\/fivemor.com\/wp-content\/uploads\/2026\/07\/4a0953c4-logo-300x86-1.png","width":300,"height":86,"caption":"Som2ny Network"},"image":{"@id":"https:\/\/fivemor.com\/#\/schema\/logo\/image\/"}},{"@type":"Person","@id":"https:\/\/fivemor.com\/#\/schema\/person\/b85e3c3dc0e1daea076524dc8810c371","name":"admin","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/fivemor.com\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/729ae85bf62b9917e93538db2f2688ca?s=96&r=g&default=https%3A%2F%2Ffivemor.com%2Fwp-content%2Fplugins%2Fbuddypress-first-letter-avatar%2Fimages%2Fdefault%2F96%2Flatin_a.png","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/729ae85bf62b9917e93538db2f2688ca?s=96&r=g&default=https%3A%2F%2Ffivemor.com%2Fwp-content%2Fplugins%2Fbuddypress-first-letter-avatar%2Fimages%2Fdefault%2F96%2Flatin_a.png","caption":"admin"},"sameAs":["https:\/\/fivemor.com"],"url":"https:\/\/fivemor.com\/?author=1"}]}},"_links":{"self":[{"href":"https:\/\/fivemor.com\/index.php?rest_route=\/wp\/v2\/posts\/235951","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/fivemor.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/fivemor.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/fivemor.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/fivemor.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=235951"}],"version-history":[{"count":0,"href":"https:\/\/fivemor.com\/index.php?rest_route=\/wp\/v2\/posts\/235951\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/fivemor.com\/index.php?rest_route=\/wp\/v2\/media\/235952"}],"wp:attachment":[{"href":"https:\/\/fivemor.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=235951"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/fivemor.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=235951"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/fivemor.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=235951"},{"taxonomy":"dealstore","embeddable":true,"href":"https:\/\/fivemor.com\/index.php?rest_route=%2Fwp%2Fv2%2Fdealstore&post=235951"},{"taxonomy":"offerexpiration","embeddable":true,"href":"https:\/\/fivemor.com\/index.php?rest_route=%2Fwp%2Fv2%2Fofferexpiration&post=235951"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}