- Issuer
- Fidelity
- Inception Date
- Dec 20, 2007
- Category
- Mid Cap Blend Equities
- Leveraged
- 1x (No leverage)
- Index Tracked
- No Index (Active)
- Distribution Policy
- Distributing
- Asset Class
- Equity
- Asset Class Size
- Mid-Cap
- Asset Class Style
- Blend
- Assets Under Management
- $7B
Share Price Chart
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Performance
FMDE Performance Chart
Fidelity Enhanced Mid Cap ETF (FMDE) is up 11.5% since the beginning of the year. FMDE is currently trading at $40 per share.
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Returns By Period
Fidelity Enhanced Mid Cap ETF (FMDE) has returned 11.45% so far this year and 22.45% over the past 12 months.
Fidelity Enhanced Mid Cap ETF
- 1D
- 0.52%
- 1M
- 3.15%
- YTD
- 11.45%
- 6M
- 10.09%
- 1Y
- 22.45%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
Benchmark (S&P 500 Index)
- 1D
- -0.37%
- 1M
- -0.01%
- YTD
- 9.16%
- 6M
- 8.64%
- 1Y
- 25.22%
- 3Y*
- 19.78%
- 5Y*
- 11.99%
- 10Y*
- 13.88%
FMDE Monthly Returns History
Based on dividend-adjusted daily data since Nov 20, 2023, FMDE's average daily return is +0.08%, while the average monthly return is +1.67%. At this rate, an investment would double in approximately 3.5 years.
Historically, 78% of months were positive and 22% were negative. The best month was Nov 2024 with a return of +9.3%, while the worst month was Dec 2024 at -6.6%. The longest winning streak lasted 6 consecutive months, and the longest losing streak was 2 months.
On a daily basis, FMDE closed higher 54% of trading days. The best single day was Apr 9, 2025 with a return of +8.1%, while the worst single day was Apr 4, 2025 at -5.7%.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | 1.18% | 3.40% | -5.24% | 7.04% | 3.12% | 1.85% | 11.45% | ||||||
| 2025 | 4.87% | -3.37% | -5.53% | 0.35% | 5.53% | 4.03% | 1.18% | 2.90% | 1.23% | -1.16% | 1.90% | 0.21% | 12.19% |
| 2024 | 0.04% | 6.87% | 4.97% | -5.35% | 2.65% | -0.48% | 3.97% | 2.82% | 2.46% | 0.35% | 9.26% | -6.56% | 21.76% |
| 2023 | 1.60% | 7.37% | 9.09% |
Benchmark Metrics
Fidelity Enhanced Mid Cap ETF has an annualized alpha of 1.60%, beta of 0.94, and R2 of 0.80 versus S&P 500 Index. Calculated based on daily prices since November 20, 2023.
- This ETF participates in less of S&P 500 Index's moves in both directions, but captures a larger share of gains (95.97%) than losses (89.54%) - typical of diversified or defensive assets.
- With beta of 0.94 and R2 of 0.80, this ETF moves broadly in line with S&P 500 Index - much of its variation is explained by market exposure rather than independent behavior.
- Alpha
- 1.60%
- Beta
- 0.94
- R²
- 0.80
- Upside Capture
- 95.97%
- Downside Capture
- 89.54%
Expense Ratio
FMDE has an expense ratio of 0.23%, which is considered low.
Return for Risk
Risk / Return Rank
FMDE ranks 52 for risk / return — on par with similar ETFs. You're getting a typical balance of risk and reward. Not a standout, but not a red flag either — a reasonable choice if other factors align with your goals.
Return / Risk — by metrics
The table below present risk-adjusted performance metrics for Fidelity Enhanced Mid Cap ETF (FMDE) and compare them to S&P 500 Index.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| FMDE | Benchmark | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.42 | ||
| Sortino ratioReturn per unit of downside risk | -0.46 | ||
| Omega ratioGain probability vs. loss probability | 1.28 | 1.37 | -0.09 |
| Calmar ratioReturn relative to maximum drawdown | 2.71 | 2.78 | -0.08 |
| Martin ratioReturn relative to average drawdown | 10.61 | 12.44 | -1.83 |
Dividends
Dividend History
Fidelity Enhanced Mid Cap ETF provided a 1.09% dividend yield over the last twelve months, with an annual payout of $0.44 per share. The fund has been increasing its distributions for 2 consecutive years.
| Period | TTM | 2025 | 2024 | 2023 |
|---|---|---|---|---|
| Dividend | $0.44 | $0.45 | $0.37 | $0.03 |
Dividend yield | 1.09% | 1.23% | 1.11% | 0.10% |
Monthly Dividends
The table displays the monthly dividend distributions for Fidelity Enhanced Mid Cap ETF. The dividends shown in the table have been adjusted to account for any splits that may have occurred.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | $0.00 | $0.00 | $0.11 | $0.00 | $0.00 | $0.10 | $0.21 | ||||||
| 2025 | $0.00 | $0.00 | $0.11 | $0.00 | $0.00 | $0.11 | $0.00 | $0.00 | $0.12 | $0.00 | $0.00 | $0.11 | $0.45 |
| 2024 | $0.00 | $0.00 | $0.09 | $0.00 | $0.00 | $0.08 | $0.00 | $0.00 | $0.10 | $0.00 | $0.00 | $0.10 | $0.37 |
| 2023 | $0.03 | $0.03 |
Drawdowns
Drawdowns Chart
The Drawdowns chart displays portfolio losses from any high point along the way. Drawdowns are calculated considering price movements and all distributions paid, if any.
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Worst Drawdowns
The table below displays the maximum drawdowns of the Fidelity Enhanced Mid Cap ETF. A maximum drawdown is a measure of risk, indicating the largest reduction in portfolio value due to a series of losing trades.
The maximum drawdown for the Fidelity Enhanced Mid Cap ETF was 21.10%, occurring on Apr 8, 2025. Recovery took 71 trading sessions.
The current Fidelity Enhanced Mid Cap ETF drawdown is 0.36%.
Related event | Drawdown | Fall | Recovery | Underwater |
|---|---|---|---|---|
2025 selloff2025 | -21.10%Apr 2025 | 4mo 4d | 3mo 15d | 7mo 19dDec 2024 - Jul 2025 |
2026 pullback2026 | -8.33%Mar 2026 | 1mo 1d | 18d | 1mo 19dFeb 2026 - Apr 2026 |
2024 pullback2024 | -6.79%Aug 2024 | 19d | 16d | 1mo 5dJul 2024 - Aug 2024 |
2024 pullback2024 | -6.53%Apr 2024 | 22d | 2mo 28d | 3mo 20dMar 2024 - Jul 2024 |
2025 pullback2025 | -5.69%Nov 2025 | 23d | 8d | 1mo 1dOct 2025 - Nov 2025 |
Drawdown Indicators
| FMDE | Benchmark | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -21.10% | -56.78% | +35.68% |
Max Drawdown (1Y)Largest decline over 1 year | -8.33% | -9.10% | +0.77% |
Max Drawdown (3Y)Largest decline over 3 years | — | -18.90% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -25.43% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -33.92% | — |
Current DrawdownCurrent decline from peak | -0.36% | -1.80% | +1.44% |
Average DrawdownAverage peak-to-trough decline | -2.61% | -10.71% | +8.10% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.12% | 2.03% | +0.09% |
Volatility
Volatility Chart
The chart below shows the rolling one-month volatility.
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