FEMD vs. USFE

Last updated Jun 4, 2026

FEMD (First Eagle Mid Cap Equity ETF) and USFE (First Eagle US Equity ETF) are both exchange-traded funds - FEMD is a Mid Cap Value Equities fund actively managed by First Eagle, while USFE is a Large Cap Value Equities fund actively managed by First Eagle. Both are actively managed. A 0.64 correlation means they provide meaningful diversification when combined. FEMD charges 0.55%/yr vs 0.45%/yr for USFE.

Performance

FEMD vs. USFE - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in First Eagle Mid Cap Equity ETF (FEMD) and First Eagle US Equity ETF (USFE). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

FEMD

• 1D: 0.53%
• 1M: 3.25%
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

USFE

• 1D: -0.63%
• 1M: 1.17%
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

FEMD vs. USFE - Yearly Performance Comparison

	2026 (YTD)
FEMD First Eagle Mid Cap Equity ETF	4.76%
USFE First Eagle US Equity ETF	-0.58%

Correlation

The correlation between FEMD and USFE is 0.64, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (All Time) Calculated using the full available price history since Jan 28, 2026	0.64

Return for Risk

FEMD vs. USFE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for First Eagle Mid Cap Equity ETF (FEMD) and First Eagle US Equity ETF (USFE). 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.

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

Sharpe Ratios by Period

	FEMD	USFE	Difference
Sharpe Ratio (All Time) Calculated using the full available price history	0.71	-0.14	+0.85

Drawdowns

FEMD vs. USFE - Drawdown Comparison

The maximum FEMD drawdown since its inception was -11.51%, which is greater than USFE's maximum drawdown of -9.37%. Use the drawdown chart below to compare losses from any high point for FEMD and USFE.

Drawdown Indicators

	FEMD	USFE	Difference
Max Drawdown Largest peak-to-trough decline	-11.51%	-9.37%	-2.14%
Current Drawdown Current decline from peak	-0.06%	-3.62%	+3.56%
Average Drawdown Average peak-to-trough decline	-3.41%	-3.73%	+0.32%

Volatility

Volatility by Period

	FEMD	USFE	Difference
Volatility (1Y) Calculated over the trailing 1-year period	20.10%	11.65%	+8.45%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	20.10%	11.65%	+8.45%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	20.10%	11.65%	+8.45%

FEMD vs. USFE - Expense Ratio Comparison

FEMD has a 0.55% expense ratio, which is higher than USFE's 0.45% expense ratio.

Dividends

FEMD vs. USFE - Dividend Comparison

Neither FEMD nor USFE has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both FEMD and USFE in my portfolio?

FEMD and USFE have a correlation of 0.64, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, FEMD or USFE?

On fees, USFE is cheaper at 0.45% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, FEMD or USFE?

USFE is cheaper with a 0.45% expense ratio, compared with 0.55% for FEMD.

Which ETF pays a higher dividend yield, FEMD or USFE?

FEMD and USFE have nearly identical dividend yields, around 0.00%.

What is the main difference between FEMD and USFE?

FEMD is categorized as Mid Cap Value Equities, while USFE is Large Cap Value Equities. Their fees differ too: 0.55% for FEMD and 0.45% for USFE.