CZA vs. FMDE
Compare and contrast key facts about Invesco Zacks Mid-Cap ETF (CZA) and Fidelity Enhanced Mid Cap ETF (FMDE).
CZA and FMDE are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. CZA is a passively managed fund by Invesco that tracks the performance of the Zacks Mid-Cap Core Index. It was launched on Apr 2, 2007. FMDE is an actively managed fund by Fidelity. It was launched on Dec 20, 2007.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: CZA or FMDE.
Performance
CZA vs. FMDE - Performance Comparison
Returns By Period
In the year-to-date period, CZA achieves a 16.70% return, which is significantly lower than FMDE's 24.98% return.
CZA
16.70%
-0.83%
8.94%
27.43%
9.04%
9.65%
FMDE
24.98%
2.82%
12.78%
N/A
N/A
N/A
Key characteristics
| CZA | FMDE | |
|---|---|---|
| Daily Std Dev | 12.09% | 13.29% |
| Max Drawdown | -53.20% | -6.79% |
| Current Drawdown | -2.68% | -2.59% |
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CZA vs. FMDE - Expense Ratio Comparison
CZA has a 0.69% expense ratio, which is higher than FMDE's 0.23% expense ratio.
Correlation
The correlation between CZA and FMDE is 0.88, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.
Risk-Adjusted Performance
CZA vs. FMDE - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco Zacks Mid-Cap ETF (CZA) 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.
Not enough dataDividends
CZA vs. FMDE - Dividend Comparison
CZA's dividend yield for the trailing twelve months is around 1.17%, more than FMDE's 0.87% yield.
| TTM | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
CZA Invesco Zacks Mid-Cap ETF | 1.17% | 1.36% | 1.71% | 0.89% | 1.42% | 1.40% | 1.26% | 1.10% | 1.87% | 1.37% | 0.74% | 1.01% |
FMDE Fidelity Enhanced Mid Cap ETF | 0.87% | 0.10% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Drawdowns
CZA vs. FMDE - Drawdown Comparison
The maximum CZA drawdown since its inception was -53.20%, which is greater than FMDE's maximum drawdown of -6.79%. Use the drawdown chart below to compare losses from any high point for CZA and FMDE. For additional features, visit the drawdowns tool.
Volatility
CZA vs. FMDE - Volatility Comparison
Invesco Zacks Mid-Cap ETF (CZA) and Fidelity Enhanced Mid Cap ETF (FMDE) have volatilities of 4.12% and 4.32%, 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.