FEAC vs. SCHB

Last updated Apr 1, 2026

Compare and contrast key facts about Fidelity Enhanced U.S. All-Cap Equity ETF (FEAC) and Schwab U.S. Broad Market ETF (SCHB).

FEAC and SCHB are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. FEAC is an actively managed fund by Fidelity. It was launched on Nov 19, 2024. SCHB is a passively managed fund by Charles Schwab that tracks the performance of the Dow Jones U.S. Broad Stock Market Total Return Index. It was launched on Nov 3, 2009.

Performance

FEAC vs. SCHB - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity Enhanced U.S. All-Cap Equity ETF (FEAC) and Schwab U.S. Broad Market ETF (SCHB). The values are adjusted to include any dividend payments, if applicable.

FEAC vs. SCHB - Yearly Performance Comparison

	2026 (YTD)	2025	2024
FEAC Fidelity Enhanced U.S. All-Cap Equity ETF	-4.06%	18.01%	-1.69%
SCHB Schwab U.S. Broad Market ETF	-4.05%	16.94%	-1.47%

Returns By Period

The year-to-date returns for both investments are quite close, with FEAC having a -4.06% return and SCHB slightly higher at -4.05%.

FEAC

• 1D: 2.43%
• 1M: -5.13%
• YTD: -4.06%
• 6M: -1.29%
• 1Y: 18.58%
• 3Y*: —
• 5Y*: —
• 10Y*: —

SCHB

• 1D: 2.91%
• 1M: -4.99%
• YTD: -4.05%
• 6M: -1.80%
• 1Y: 17.96%
• 3Y*: 17.85%
• 5Y*: 10.52%
• 10Y*: 13.57%

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

FEAC vs. SCHB - Expense Ratio Comparison

FEAC has a 0.18% expense ratio, which is higher than SCHB's 0.03% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

FEAC

Fidelity Enhanced U.S. All-Cap Equity ETF

SCHB

Schwab U.S. Broad Market ETF

Return for Risk

FEAC vs. SCHB — Risk / Return Rank

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

FEAC

FEAC Risk / Return Rank: 61
FEAC Sharpe Ratio Rank: 56
FEAC Sortino Ratio Rank: 58
FEAC Omega Ratio Rank: 61
FEAC Calmar Ratio Rank: 60
FEAC Martin Ratio Rank: 72

SCHB

SCHB Risk / Return Rank: 65
SCHB Sharpe Ratio Rank: 59
SCHB Sortino Ratio Rank: 62
SCHB Omega Ratio Rank: 65
SCHB Calmar Ratio Rank: 64
SCHB Martin Ratio Rank: 74

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.

FEAC vs. SCHB - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Enhanced U.S. All-Cap Equity ETF (FEAC) and Schwab U.S. Broad Market ETF (SCHB). 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.

	FEAC	SCHB	Difference
Sharpe ratio Return per unit of total volatility	1.00	0.98	+0.02
Sortino ratio Return per unit of downside risk	1.52	1.50	+0.02
Omega ratio Gain probability vs. loss probability	1.23	1.23	0.00
Calmar ratio Return relative to maximum drawdown	1.55	1.51	+0.04
Martin ratio Return relative to average drawdown	7.47	7.15	+0.32
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

FEAC vs. SCHB - Sharpe Ratio Comparison

The current FEAC Sharpe Ratio is 1.00, which is comparable to the SCHB Sharpe Ratio of 0.98. The chart below compares the historical Sharpe Ratios of FEAC and SCHB, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	FEAC	SCHB	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.00	0.98	+0.02
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.61	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.74	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.46	0.78	-0.32

Correlation

The correlation between FEAC and SCHB is 0.97, 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.

Dividends

FEAC vs. SCHB - Dividend Comparison

FEAC's dividend yield for the trailing twelve months is around 1.00%, less than SCHB's 1.18% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FEAC Fidelity Enhanced U.S. All-Cap Equity ETF	1.00%	0.94%	0.12%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
SCHB Schwab U.S. Broad Market ETF	1.18%	1.11%	1.24%	1.40%	1.61%	1.21%	1.63%	1.80%	2.00%	1.65%	1.86%	2.00%

Drawdowns

FEAC vs. SCHB - Drawdown Comparison

The maximum FEAC drawdown since its inception was -18.96%, smaller than the maximum SCHB drawdown of -35.27%. Use the drawdown chart below to compare losses from any high point for FEAC and SCHB.

Drawdown Indicators

	FEAC	SCHB	Difference
Max Drawdown Largest peak-to-trough decline	-18.96%	-35.27%	+16.31%
Max Drawdown (1Y) Largest decline over 1 year	-12.25%	-12.22%	-0.03%
Max Drawdown (5Y) Largest decline over 5 years	—	-25.41%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-35.27%	—
Current Drawdown Current decline from peak	-5.92%	-6.26%	+0.34%
Average Drawdown Average peak-to-trough decline	-2.78%	-4.15%	+1.37%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.53%	2.58%	-0.05%

Volatility

FEAC vs. SCHB - Volatility Comparison

The current volatility for Fidelity Enhanced U.S. All-Cap Equity ETF (FEAC) is 5.05%, while Schwab U.S. Broad Market ETF (SCHB) has a volatility of 5.48%. This indicates that FEAC experiences smaller price fluctuations and is considered to be less risky than SCHB based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FEAC	SCHB	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.05%	5.48%	-0.43%
Volatility (6M) Calculated over the trailing 6-month period	10.01%	9.75%	+0.26%
Volatility (1Y) Calculated over the trailing 1-year period	18.67%	18.33%	+0.34%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.06%	17.25%	+0.81%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.06%	18.30%	-0.24%