FEMG vs. SCHM

Last updated Jul 17, 2026

FEMG (Fidelity Enhanced Mid Cap Growth ETF) and SCHM (Schwab US Mid-Cap ETF) are both exchange-traded funds - FEMG is a Mid Cap Growth Equities fund actively managed by Fidelity, while SCHM is a Mid Cap Blend Equities fund tracking the Dow Jones US Total Stock Market Mid-Cap. FEMG is actively managed, while SCHM is passively managed. A 0.73 correlation means they provide meaningful diversification when combined. FEMG charges 0.23%/yr vs 0.04%/yr for SCHM.

Performance

FEMG vs. SCHM - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity Enhanced Mid Cap Growth ETF (FEMG) and Schwab US Mid-Cap ETF (SCHM). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

FEMG

• 1D: -1.33%
• 1M: -1.76%
• 6M: —
• YTD: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

SCHM

• 1D: -0.54%
• 1M: -2.01%
• 6M: 9.91%
• YTD: 17.66%
• 1Y: 25.66%
• 3Y*: 14.83%
• 5Y*: 8.46%
• 10Y*: 10.94%

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

FEMG vs. SCHM - Yearly Performance Comparison

	2026 (YTD)
FEMG Fidelity Enhanced Mid Cap Growth ETF	2.65%
SCHM Schwab US Mid-Cap ETF	5.90%

Correlation

The correlation between FEMG and SCHM is 0.73, 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 Apr 30, 2026	0.73

FEMG vs. SCHM - Sectors Allocation Comparison

Sectors	FEMG	SCHM
Technology	34.1%	22.1%
Industrials	20.7%	21.7%
Consumer Cyclical	14.0%	10.8%
Healthcare	12.0%	10.9%
Financial Services	5.2%	10.9%
Energy	3.6%	3.4%
Utilities	2.6%	2.9%
Communication Services	2.4%	2.6%
Real Estate	2.0%	6.4%
Consumer Defensive	1.7%	3.4%
Basic Materials	1.3%	4.7%

Return for Risk

FEMG vs. SCHM — Risk / Return Rank

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

FEMG

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

SCHM

SCHM Risk / Return Rank: 62
SCHM Sharpe Ratio Rank: 58
SCHM Sortino Ratio Rank: 60
SCHM Omega Ratio Rank: 54
SCHM Calmar Ratio Rank: 69
SCHM Martin Ratio Rank: 73

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.

FEMG vs. SCHM - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Enhanced Mid Cap Growth ETF (FEMG) and Schwab US Mid-Cap ETF (SCHM). 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.

	FEMG	SCHM	Difference
Sharpe ratio: Return per unit of total volatility	—	1.56	—
Sortino ratio: Return per unit of downside risk	—	2.27	—
Omega ratio: Gain probability vs. loss probability	—	1.27	—
Calmar ratio: Return relative to maximum drawdown	—	2.77	—
Martin ratio: Return relative to average drawdown	—	10.60	—

Drawdowns

FEMG vs. SCHM - Drawdown Comparison

The maximum FEMG drawdown since its inception was -4.66%, smaller than the maximum SCHM drawdown of -42.43%. Use the drawdown chart below to compare losses from any high point for FEMG and SCHM.

Drawdown Indicators

	FEMG	SCHM	Difference
Max Drawdown Largest peak-to-trough decline	-4.66%	-42.43%	+37.77%
Max Drawdown (1Y) Largest decline over 1 year	—	-9.32%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-23.27%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-26.46%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-42.43%	—
Current Drawdown Current decline from peak	-4.10%	-4.56%	+0.46%
Average Drawdown Average peak-to-trough decline	-1.52%	-5.63%	+4.11%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	2.43%	—

Volatility

Volatility by Period

	FEMG	SCHM	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	5.18%	—
Volatility (6M) Calculated over the trailing 6-month period	—	12.89%	—
Volatility (1Y) Calculated over the trailing 1-year period	16.91%	16.51%	+0.40%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.91%	19.70%	-2.79%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.91%	20.46%	-3.55%

FEMG vs. SCHM - Expense Ratio Comparison

FEMG has a 0.23% expense ratio, which is higher than SCHM's 0.04% 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%.

Dividends

FEMG vs. SCHM - Dividend Comparison

FEMG's dividend yield for the trailing twelve months is around 0.10%, less than SCHM's 1.26% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FEMG Fidelity Enhanced Mid Cap Growth ETF	0.10%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
SCHM Schwab US Mid-Cap ETF	1.26%	1.46%	1.43%	1.50%	1.67%	1.13%	1.31%	1.48%	1.56%	1.27%	1.51%	1.54%

Frequently Asked Questions

Can I hold both FEMG and SCHM in my portfolio?

FEMG and SCHM have a correlation of 0.73, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, FEMG or SCHM?

On fees, SCHM is cheaper at 0.04% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, FEMG or SCHM?

SCHM is cheaper with a 0.04% expense ratio, compared with 0.23% for FEMG.

Which ETF pays a higher dividend yield, FEMG or SCHM?

SCHM has the higher dividend yield at 1.26%, compared with 0.10% for FEMG.

What is the main difference between FEMG and SCHM?

FEMG is categorized as Mid Cap Growth Equities, while SCHM is Mid Cap Blend Equities. They also come from different issuers: Fidelity and Charles Schwab. Their fees differ too: 0.23% for FEMG and 0.04% for SCHM.