FHEQ vs. USMV
Compare and contrast key facts about Fidelity Hedged Equity ETF (FHEQ) and iShares MSCI USA Minimum Volatility Factor ETF (USMV).
FHEQ and USMV are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. FHEQ is an actively managed fund by Fidelity. It was launched on Apr 9, 2024. USMV is a passively managed fund by iShares that tracks the performance of the MSCI USA Minimum Volatility Index. It was launched on Oct 18, 2011.
Performance
FHEQ vs. USMV - Performance Comparison
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FHEQ vs. USMV - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
FHEQ Fidelity Hedged Equity ETF | -4.15% | 13.34% | 10.57% |
USMV iShares MSCI USA Minimum Volatility Factor ETF | -1.18% | 7.65% | 10.55% |
Returns By Period
In the year-to-date period, FHEQ achieves a -4.15% return, which is significantly lower than USMV's -1.18% return.
FHEQ
- 1D
- 0.51%
- 1M
- -3.55%
- YTD
- -4.15%
- 6M
- -3.51%
- 1Y
- 12.58%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
USMV
- 1D
- -0.08%
- 1M
- -4.74%
- YTD
- -1.18%
- 6M
- -1.61%
- 1Y
- 0.57%
- 3Y*
- 10.26%
- 5Y*
- 7.59%
- 10Y*
- 9.64%
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FHEQ vs. USMV - Expense Ratio Comparison
FHEQ has a 0.48% expense ratio, which is higher than USMV's 0.15% expense ratio.
Return for Risk
FHEQ vs. USMV — Risk / Return Rank
FHEQ
USMV
FHEQ vs. USMV - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Fidelity Hedged Equity ETF (FHEQ) and iShares MSCI USA Minimum Volatility Factor ETF (USMV). 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.
| FHEQ | USMV | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 1.14 | 0.05 | +1.09 |
Sortino ratioReturn per unit of downside risk | 1.67 | 0.15 | +1.52 |
Omega ratioGain probability vs. loss probability | 1.22 | 1.02 | +0.19 |
Calmar ratioReturn relative to maximum drawdown | 1.65 | 0.06 | +1.60 |
Martin ratioReturn relative to average drawdown | 6.46 | 0.25 | +6.21 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| FHEQ | USMV | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.14 | 0.05 | +1.09 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | 0.62 | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.67 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.94 | 0.85 | +0.09 |
Correlation
The correlation between FHEQ and USMV is 0.58, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.
Dividends
FHEQ vs. USMV - Dividend Comparison
FHEQ's dividend yield for the trailing twelve months is around 0.66%, less than USMV's 1.59% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FHEQ Fidelity Hedged Equity ETF | 0.66% | 0.63% | 0.50% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
USMV iShares MSCI USA Minimum Volatility Factor ETF | 1.59% | 1.49% | 1.67% | 1.82% | 1.62% | 1.26% | 1.81% | 1.88% | 2.12% | 1.77% | 2.22% | 2.02% |
Drawdowns
FHEQ vs. USMV - Drawdown Comparison
The maximum FHEQ drawdown since its inception was -11.12%, smaller than the maximum USMV drawdown of -33.10%. Use the drawdown chart below to compare losses from any high point for FHEQ and USMV.
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Drawdown Indicators
| FHEQ | USMV | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -11.12% | -33.10% | +21.98% |
Max Drawdown (1Y)Largest decline over 1 year | -7.77% | -8.91% | +1.14% |
Max Drawdown (5Y)Largest decline over 5 years | — | -17.93% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -33.10% | — |
Current DrawdownCurrent decline from peak | -5.70% | -4.87% | -0.83% |
Average DrawdownAverage peak-to-trough decline | -1.90% | -2.88% | +0.98% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.99% | 2.03% | -0.04% |
Volatility
FHEQ vs. USMV - Volatility Comparison
Fidelity Hedged Equity ETF (FHEQ) and iShares MSCI USA Minimum Volatility Factor ETF (USMV) have volatilities of 2.91% and 3.02%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FHEQ | USMV | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.91% | 3.02% | -0.11% |
Volatility (6M)Calculated over the trailing 6-month period | 7.07% | 6.07% | +1.00% |
Volatility (1Y)Calculated over the trailing 1-year period | 11.09% | 12.50% | -1.41% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 10.40% | 12.38% | -1.98% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 10.40% | 14.51% | -4.11% |