FEMV vs. IWS
FEMV (Fidelity Enhanced Mid Cap Value ETF) and IWS (iShares Russell Mid-Cap Value ETF) are both Mid Cap Value Equities funds. FEMV is actively managed, while IWS is passively managed. Their correlation of 0.91 suggests significant overlap in exposure. Both charge a 0.23% expense ratio.
Performance
FEMV vs. IWS - Performance Comparison
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Returns By Period
FEMV
- 1D
- 0.00%
- 1M
- 4.12%
- 6M
- —
- YTD
- —
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
IWS
- 1D
- -0.20%
- 1M
- 4.27%
- 6M
- 14.03%
- YTD
- 18.23%
- 1Y
- 25.68%
- 3Y*
- 16.64%
- 5Y*
- 9.65%
- 10Y*
- 10.37%
FEMV vs. IWS - Yearly Performance Comparison
| 2026 (YTD) | |
|---|---|
FEMV Fidelity Enhanced Mid Cap Value ETF | 6.72% |
IWS iShares Russell Mid-Cap Value ETF | 7.94% |
Correlation
The correlation between FEMV and IWS is 0.91, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.
| Correlation | |
|---|---|
Correlation (All Time) Calculated using the full available price history since Apr 30, 2026 | 0.91 |
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Return for Risk
FEMV vs. IWS — Risk / Return Rank
FEMV
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
IWS
FEMV vs. IWS - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Fidelity Enhanced Mid Cap Value ETF (FEMV) and iShares Russell Mid-Cap Value ETF (IWS). 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.
| FEMV | IWS | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | — | 1.33 | — |
| Calmar ratioReturn relative to maximum drawdown | — | 3.42 | — |
| Martin ratioReturn relative to average drawdown | — | 12.83 | — |
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Drawdowns
FEMV vs. IWS - Drawdown Comparison
The maximum FEMV drawdown since its inception was -2.69%, smaller than the maximum IWS drawdown of -62.40%. Use the drawdown chart below to compare losses from any high point for FEMV and IWS.
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Drawdown Indicators
| FEMV | IWS | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -2.69% | -62.40% | +59.71% |
Max Drawdown (1Y)Largest decline over 1 year | — | -7.53% | — |
Max Drawdown (3Y)Largest decline over 3 years | — | -20.57% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -21.23% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -43.83% | — |
Current DrawdownCurrent decline from peak | 0.00% | -0.20% | +0.20% |
Average DrawdownAverage peak-to-trough decline | -0.55% | -7.99% | +7.44% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | — | 2.01% | — |
Volatility
FEMV vs. IWS - Volatility Comparison
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Volatility by Period
| FEMV | IWS | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | — | 4.60% | — |
Volatility (6M)Calculated over the trailing 6-month period | — | 10.15% | — |
Volatility (1Y)Calculated over the trailing 1-year period | 12.25% | 13.56% | -1.31% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 12.25% | 17.33% | -5.08% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 12.25% | 19.30% | -7.05% |
FEMV vs. IWS - Expense Ratio Comparison
Both FEMV and IWS have an expense ratio of 0.23%, making them cost-effective options compared to the broader market, where average expense ratios typically range from 0.3% to 0.9%.
Dividends
FEMV vs. IWS - Dividend Comparison
FEMV's dividend yield for the trailing twelve months is around 0.26%, less than IWS's 1.31% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FEMV Fidelity Enhanced Mid Cap Value ETF | 0.26% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
IWS iShares Russell Mid-Cap Value ETF | 1.31% | 1.53% | 1.50% | 1.76% | 1.93% | 1.39% | 1.87% | 1.97% | 2.53% | 1.96% | 2.10% | 2.14% |
Frequently Asked Questions
With a correlation of 0.91, FEMV and IWS move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.
Both ETFs have the same 0.23% expense ratio. The better choice depends on whether you care most about return, fees, risk, or income.
FEMV and IWS have the same expense ratio: 0.23% per year.
IWS has the higher dividend yield at 1.31%, compared with 0.26% for FEMV.
They also come from different issuers: Fidelity and iShares.
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