FDRR vs. FDVV

Last updated Jun 23, 2026

FDRR (Fidelity Dividend ETF for Rising Rates) and FDVV (Fidelity High Dividend ETF) are both Large Cap Blend Equities funds from Fidelity - FDRR tracks the Fidelity Dividend Index for Rising Rates while FDVV tracks the Fidelity Core Dividend Index. Both are passively managed. Over the past 5 years, FDRR returned 12.27%/yr vs 13.81%/yr for FDVV. Their correlation of 0.94 suggests significant overlap in exposure. FDRR charges 0.15%/yr vs 0.29%/yr for FDVV.

Performance

FDRR vs. FDVV - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity Dividend ETF for Rising Rates (FDRR) and Fidelity High Dividend ETF (FDVV). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both investments are quite close, with FDRR having a 7.91% return and FDVV slightly higher at 8.30%.

FDRR

• 1D: -0.34%
• 1M: -0.34%
• YTD: 7.91%
• 6M: 7.91%
• 1Y: 27.62%
• 3Y*: 20.09%
• 5Y*: 12.27%
• 10Y*: —

FDVV

• 1D: -0.33%
• 1M: 0.35%
• YTD: 8.30%
• 6M: 8.41%
• 1Y: 22.58%
• 3Y*: 19.87%
• 5Y*: 13.81%
• 10Y*: —

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

FDRR vs. FDVV - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
FDRR Fidelity Dividend ETF for Rising Rates	7.91%	21.70%	20.24%	13.66%	-9.73%	26.06%	8.23%	26.86%	-3.60%	19.29%
FDVV Fidelity High Dividend ETF	8.30%	17.08%	21.81%	18.00%	-4.21%	29.24%	2.80%	24.07%	-1.26%	14.00%

Correlation

The correlation between FDRR and FDVV is 0.87, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.87
Correlation (3Y) Calculated over the trailing 3-year period	0.92
Correlation (5Y) Calculated over the trailing 5-year period	0.94
Correlation (All Time) Calculated using the full available price history since Sep 15, 2016	0.94

The correlation between FDRR and FDVV has been stable across timeframes, ranging from 0.87 to 0.94 - a consistent structural relationship.

FDRR vs. FDVV - Sectors Allocation Comparison

Sectors	FDRR	FDVV
Technology	38.2%	30.5%
Financial Services	11.3%	17.0%
Communication Services	10.1%	3.6%
Healthcare	9.3%	3.0%
Industrials	8.3%	3.0%
Consumer Cyclical	8.2%	13.6%
Consumer Defensive	4.5%	10.7%
Energy	3.2%	-
Real Estate	2.8%	9.9%
Utilities	2.1%	8.6%
Basic Materials	2.0%	-

Return for Risk

FDRR vs. FDVV — Risk / Return Rank

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

FDRR

FDRR Risk / Return Rank: 76
FDRR Sharpe Ratio Rank: 81
FDRR Sortino Ratio Rank: 81
FDRR Omega Ratio Rank: 79
FDRR Calmar Ratio Rank: 67
FDRR Martin Ratio Rank: 73

FDVV

FDVV Risk / Return Rank: 65
FDVV Sharpe Ratio Rank: 72
FDVV Sortino Ratio Rank: 72
FDVV Omega Ratio Rank: 73
FDVV Calmar Ratio Rank: 51
FDVV Martin Ratio Rank: 59

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.

FDRR vs. FDVV - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Dividend ETF for Rising Rates (FDRR) and Fidelity High Dividend ETF (FDVV). 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.

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.

	FDRR	FDVV	Difference
Sharpe ratio: Return per unit of total volatility	2.47	2.23	+0.23
Sortino ratio: Return per unit of downside risk	3.42	3.12	+0.31
Omega ratio: Gain probability vs. loss probability	1.45	1.41	+0.04
Calmar ratio: Return relative to maximum drawdown	3.26	2.44	+0.82
Martin ratio: Return relative to average drawdown	13.39	10.09	+3.30

FDRR vs. FDVV - Sharpe Ratio Comparison

The current FDRR Sharpe Ratio is 2.47, which is comparable to the FDVV Sharpe Ratio of 2.23. The chart below compares the historical Sharpe Ratios of FDRR and FDVV, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

FDRR vs. FDVV - Drawdown Comparison

The maximum FDRR drawdown since its inception was -36.52%, smaller than the maximum FDVV drawdown of -40.25%. Use the drawdown chart below to compare losses from any high point for FDRR and FDVV.

Drawdown Indicators

	FDRR	FDVV	Difference
Max Drawdown Largest peak-to-trough decline	-36.52%	-40.25%	+3.73%
Max Drawdown (1Y) Largest decline over 1 year	-8.52%	-9.30%	+0.78%
Max Drawdown (3Y) Largest decline over 3 years	-18.04%	-15.90%	-2.14%
Max Drawdown (5Y) Largest decline over 5 years	-20.92%	-20.18%	-0.74%
Current Drawdown Current decline from peak	-3.03%	-1.39%	-1.64%
Average Drawdown Average peak-to-trough decline	-4.00%	-3.79%	-0.21%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.07%	2.24%	-0.17%

Volatility

FDRR vs. FDVV - Volatility Comparison

Fidelity Dividend ETF for Rising Rates (FDRR) has a higher volatility of 3.80% compared to Fidelity High Dividend ETF (FDVV) at 3.10%. This indicates that FDRR's price experiences larger fluctuations and is considered to be riskier than FDVV based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FDRR	FDVV	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.80%	3.10%	+0.70%
Volatility (6M) Calculated over the trailing 6-month period	8.68%	8.26%	+0.42%
Volatility (1Y) Calculated over the trailing 1-year period	11.27%	10.17%	+1.10%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.02%	14.73%	+0.29%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.86%	16.97%	-0.11%

FDRR vs. FDVV - Expense Ratio Comparison

FDRR has a 0.15% expense ratio, which is lower than FDVV's 0.29% expense ratio.

Dividends

FDRR vs. FDVV - Dividend Comparison

FDRR's dividend yield for the trailing twelve months is around 2.16%, less than FDVV's 2.86% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
FDRR Fidelity Dividend ETF for Rising Rates	2.16%	2.21%	2.61%	2.93%	2.75%	2.09%	2.85%	2.89%	3.20%	2.89%	0.61%
FDVV Fidelity High Dividend ETF	2.86%	2.89%	2.94%	3.77%	3.44%	2.70%	3.19%	3.93%	4.05%	3.66%	1.04%

Frequently Asked Questions

Can I hold both FDRR and FDVV in my portfolio?

FDRR and FDVV have a correlation of 0.87, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FDRR or FDVV?

FDRR has higher volatility (3.80%) compared to FDVV (3.10%). In terms of maximum drawdown, FDRR dropped -36.52% vs FDVV's -40.25%.

Which ETF is better, FDRR or FDVV?

On 5-year performance, FDVV leads with 13.81% vs 12.27% for FDRR. On fees, FDRR is cheaper at 0.15% per year. On volatility, FDVV has been the lower-risk option at 3.10%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, FDRR or FDVV?

Over the 5-year period, FDVV has performed better with a 13.81% return vs 12.27%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, FDRR or FDVV?

FDRR is cheaper with a 0.15% expense ratio, compared with 0.29% for FDVV.

Which ETF pays a higher dividend yield, FDRR or FDVV?

FDVV has the higher dividend yield at 2.86%, compared with 2.16% for FDRR.

What is the main difference between FDRR and FDVV?

FDRR tracks Fidelity Dividend Index for Rising Rates, while FDVV tracks Fidelity Core Dividend Index. Their fees differ too: 0.15% for FDRR and 0.29% for FDVV.

Which has better risk-adjusted returns?

FDRR currently has the higher Sharpe Ratio (2.47 vs 2.23), 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.