CGDV vs. FMDE

Last updated Jun 9, 2026

CGDV (Capital Group Dividend Value ETF) and FMDE (Fidelity Enhanced Mid Cap ETF) are both exchange-traded funds - CGDV is a Large Cap Value Equities fund actively managed by Capital Group, while FMDE is a Mid Cap Blend Equities fund actively managed by Fidelity. Both are actively managed. Over the past year, CGDV returned 27.58% vs 17.86% for FMDE. Their correlation of 0.84 suggests significant overlap in exposure. CGDV charges 0.33%/yr vs 0.23%/yr for FMDE.

Performance

CGDV vs. FMDE - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Capital Group Dividend Value ETF (CGDV) and Fidelity Enhanced Mid Cap ETF (FMDE). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, CGDV achieves a 10.15% return, which is significantly higher than FMDE's 8.21% return.

CGDV

• 1D: 0.13%
• 1M: 1.46%
• YTD: 10.15%
• 6M: 10.88%
• 1Y: 27.58%
• 3Y*: 24.27%
• 5Y*: —
• 10Y*: —

FMDE

• 1D: -0.18%
• 1M: 1.08%
• YTD: 8.21%
• 6M: 8.53%
• 1Y: 17.86%
• 3Y*: —
• 5Y*: —
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

CGDV vs. FMDE - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
CGDV Capital Group Dividend Value ETF	10.15%	25.50%	20.10%	6.94%
FMDE Fidelity Enhanced Mid Cap ETF	8.21%	12.19%	21.76%	8.91%

Correlation

The correlation between CGDV and FMDE is 0.76, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.76
Correlation (All Time) Calculated using the full available price history since Nov 21, 2023	0.84

The correlation between CGDV and FMDE has been stable across timeframes, ranging from 0.76 to 0.84 - a consistent structural relationship.

CGDV vs. FMDE - Sectors Allocation Comparison

Sectors	CGDV	FMDE
Technology	34.1%	20.6%
Industrials	13.2%	20.1%
Healthcare	11.5%	7.8%
Consumer Cyclical	10.6%	12.1%
Communication Services	8.4%	3.8%
Financial Services	6.8%	12.9%
Consumer Defensive	5.5%	1.7%
Energy	3.8%	6.4%
Basic Materials	2.9%	3.9%
Utilities	2.1%	5.0%
Real Estate	1.1%	5.7%

Return for Risk

CGDV vs. FMDE — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

CGDV

CGDV Risk / Return Rank: 76
CGDV Sharpe Ratio Rank: 81
CGDV Sortino Ratio Rank: 80
CGDV Omega Ratio Rank: 81
CGDV Calmar Ratio Rank: 63
CGDV Martin Ratio Rank: 77

FMDE

FMDE Risk / Return Rank: 45
FMDE Sharpe Ratio Rank: 41
FMDE Sortino Ratio Rank: 41
FMDE Omega Ratio Rank: 39
FMDE Calmar Ratio Rank: 48
FMDE Martin Ratio Rank: 54

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

CGDV vs. FMDE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Capital Group Dividend Value ETF (CGDV) and Fidelity Enhanced Mid Cap ETF (FMDE). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

	CGDV	FMDE	Difference
Sharpe ratio: Return per unit of total volatility	2.34	1.31	+1.04
Sortino ratio: Return per unit of downside risk	3.20	1.89	+1.30
Omega ratio: Gain probability vs. loss probability	1.44	1.23	+0.21
Calmar ratio: Return relative to maximum drawdown	2.84	2.15	+0.69
Martin ratio: Return relative to average drawdown	13.37	8.49	+4.89
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

CGDV vs. FMDE - Sharpe Ratio Comparison

The current CGDV Sharpe Ratio is 2.34, which is higher than the FMDE Sharpe Ratio of 1.31. The chart below compares the historical Sharpe Ratios of CGDV and FMDE, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	CGDV	FMDE	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.34	1.31	+1.04
Sharpe Ratio (All Time) Calculated using the full available price history	1.21	1.28	-0.08

Drawdowns

CGDV vs. FMDE - Drawdown Comparison

The maximum CGDV drawdown since its inception was -21.82%, roughly equal to the maximum FMDE drawdown of -21.10%. Use the drawdown chart below to compare losses from any high point for CGDV and FMDE.

Drawdown Indicators

	CGDV	FMDE	Difference
Max Drawdown Largest peak-to-trough decline	-21.82%	-21.10%	-0.72%
Max Drawdown (1Y) Largest decline over 1 year	-9.75%	-8.33%	-1.42%
Max Drawdown (3Y) Largest decline over 3 years	-14.28%	—	—
Current Drawdown Current decline from peak	-2.22%	-2.19%	-0.03%
Average Drawdown Average peak-to-trough decline	-3.61%	-2.64%	-0.97%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.07%	2.11%	-0.04%

Volatility

CGDV vs. FMDE - Volatility Comparison

Capital Group Dividend Value ETF (CGDV) and Fidelity Enhanced Mid Cap ETF (FMDE) have volatilities of 3.60% and 3.52%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	CGDV	FMDE	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.60%	3.52%	+0.08%
Volatility (6M) Calculated over the trailing 6-month period	9.47%	10.03%	-0.56%
Volatility (1Y) Calculated over the trailing 1-year period	11.85%	13.75%	-1.90%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.51%	16.15%	-0.64%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.51%	16.15%	-0.64%

CGDV vs. FMDE - Expense Ratio Comparison

CGDV has a 0.33% expense ratio, which is higher than FMDE's 0.23% expense ratio.

Dividends

CGDV vs. FMDE - Dividend Comparison

CGDV's dividend yield for the trailing twelve months is around 1.19%, more than FMDE's 1.13% yield.

Position	TTM	2025	2024	2023	2022
CGDV Capital Group Dividend Value ETF	1.19%	1.29%	1.60%	1.65%	1.36%
FMDE Fidelity Enhanced Mid Cap ETF	1.13%	1.23%	1.11%	0.10%	0.00%

Frequently Asked Questions

Can I hold both CGDV and FMDE in my portfolio?

CGDV and FMDE have a correlation of 0.76, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, CGDV or FMDE?

CGDV has higher volatility (3.60%) compared to FMDE (3.52%). In terms of maximum drawdown, CGDV dropped -21.82% vs FMDE's -21.10%.

Which ETF is better, CGDV or FMDE?

On 1-year performance, CGDV leads with 27.58% vs 17.86% for FMDE. On fees, FMDE is cheaper at 0.23% per year. Their volatility is very similar. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, CGDV or FMDE?

Over the 1-year period, CGDV has performed better with a 27.58% return vs 17.86%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, CGDV or FMDE?

FMDE is cheaper with a 0.23% expense ratio, compared with 0.33% for CGDV.

Which ETF pays a higher dividend yield, CGDV or FMDE?

CGDV has the higher dividend yield at 1.19%, compared with 1.13% for FMDE.

What is the main difference between CGDV and FMDE?

CGDV is categorized as Large Cap Value Equities, while FMDE is Mid Cap Blend Equities. They also come from different issuers: Capital Group and Fidelity. Their fees differ too: 0.33% for CGDV and 0.23% for FMDE.

Which has better risk-adjusted returns?

CGDV currently has the higher Sharpe Ratio (2.34 vs 1.31), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.