FMDE vs. DIVB
FMDE (Fidelity Enhanced Mid Cap ETF) and DIVB (iShares U.S. Dividend and Buyback ETF) are both exchange-traded funds - FMDE is a Mid Cap Blend Equities fund actively managed by Fidelity, while DIVB is a Large Cap Blend Equities fund tracking the Morningstar US Dividend and Buyback Index. FMDE is actively managed, while DIVB is passively managed. Over the past year, FMDE returned 17.86% vs 27.52% for DIVB. Their correlation of 0.82 suggests significant overlap in exposure. FMDE charges 0.23%/yr vs 0.25%/yr for DIVB.
Performance
FMDE vs. DIVB - Performance Comparison
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Returns By Period
In the year-to-date period, FMDE achieves a 8.21% return, which is significantly lower than DIVB's 16.10% return.
FMDE
- 1D
- -0.18%
- 1M
- 1.08%
- YTD
- 8.21%
- 6M
- 8.53%
- 1Y
- 17.86%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
DIVB
- 1D
- 0.09%
- 1M
- 5.36%
- YTD
- 16.10%
- 6M
- 16.58%
- 1Y
- 27.52%
- 3Y*
- 21.21%
- 5Y*
- 11.98%
- 10Y*
- —
FMDE vs. DIVB - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
FMDE Fidelity Enhanced Mid Cap ETF | 8.21% | 12.19% | 21.76% | 8.91% |
DIVB iShares U.S. Dividend and Buyback ETF | 16.10% | 15.09% | 18.59% | 8.05% |
Correlation
The correlation between FMDE and DIVB is 0.78, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.78 |
Correlation (All Time) Calculated using the full available price history since Nov 21, 2023 | 0.82 |
The correlation between FMDE and DIVB has been stable across timeframes, ranging from 0.78 to 0.82 - a consistent structural relationship.
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Return for Risk
FMDE vs. DIVB — Risk / Return Rank
FMDE
DIVB
FMDE vs. DIVB - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Fidelity Enhanced Mid Cap ETF (FMDE) and iShares U.S. Dividend and Buyback ETF (DIVB). 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.
| FMDE | DIVB | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.10 | ||
| Sortino ratioReturn per unit of downside risk | -1.46 | ||
| Omega ratioGain probability vs. loss probability | 1.23 | 1.42 | -0.19 |
| Calmar ratioReturn relative to maximum drawdown | 2.15 | 4.05 | -1.90 |
| Martin ratioReturn relative to average drawdown | 8.49 | 13.75 | -5.26 |
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
| FMDE | DIVB | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.31 | 2.40 | -1.10 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | 0.79 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 1.28 | 0.75 | +0.53 |
Drawdowns
FMDE vs. DIVB - Drawdown Comparison
The maximum FMDE drawdown since its inception was -21.10%, smaller than the maximum DIVB drawdown of -36.93%. Use the drawdown chart below to compare losses from any high point for FMDE and DIVB.
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Drawdown Indicators
| FMDE | DIVB | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -21.10% | -36.93% | +15.83% |
Max Drawdown (1Y)Largest decline over 1 year | -8.33% | -6.82% | -1.51% |
Max Drawdown (3Y)Largest decline over 3 years | — | -15.45% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -21.08% | — |
Current DrawdownCurrent decline from peak | -2.19% | -1.98% | -0.21% |
Average DrawdownAverage peak-to-trough decline | -2.64% | -4.99% | +2.35% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.11% | 2.01% | +0.10% |
Volatility
FMDE vs. DIVB - Volatility Comparison
The current volatility for Fidelity Enhanced Mid Cap ETF (FMDE) is 3.52%, while iShares U.S. Dividend and Buyback ETF (DIVB) has a volatility of 4.05%. This indicates that FMDE experiences smaller price fluctuations and is considered to be less risky than DIVB based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FMDE | DIVB | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.52% | 4.05% | -0.53% |
Volatility (6M)Calculated over the trailing 6-month period | 10.03% | 8.68% | +1.35% |
Volatility (1Y)Calculated over the trailing 1-year period | 13.75% | 11.53% | +2.22% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.15% | 15.26% | +0.89% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.15% | 18.38% | -2.23% |
FMDE vs. DIVB - Expense Ratio Comparison
FMDE has a 0.23% expense ratio, which is lower than DIVB's 0.25% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Dividends
FMDE vs. DIVB - Dividend Comparison
FMDE's dividend yield for the trailing twelve months is around 1.13%, less than DIVB's 2.21% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
DIVB iShares U.S. Dividend and Buyback ETF | 2.21% | 2.50% | 2.61% | 3.18% | 2.02% | 1.63% | 2.08% | 2.07% | 2.52% | 0.37% |
FMDE Fidelity Enhanced Mid Cap ETF | 1.13% | 1.23% | 1.11% | 0.10% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
FMDE and DIVB have a correlation of 0.78, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
DIVB has higher volatility (4.05%) compared to FMDE (3.52%). In terms of maximum drawdown, FMDE dropped -21.10% vs DIVB's -36.93%.
On 1-year performance, DIVB leads with 27.52% vs 17.86% for FMDE. On fees, FMDE is cheaper at 0.23% per year. On volatility, FMDE has been the lower-risk option at 3.52%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, DIVB has performed better with a 27.52% return vs 17.86%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
FMDE is cheaper with a 0.23% expense ratio, compared with 0.25% for DIVB.
DIVB has the higher dividend yield at 2.21%, compared with 1.13% for FMDE.
FMDE is categorized as Mid Cap Blend Equities, while DIVB is Large Cap Blend Equities. They also come from different issuers: Fidelity and iShares. Their fees differ too: 0.23% for FMDE and 0.25% for DIVB.
DIVB currently has the higher Sharpe Ratio (2.40 vs 1.31), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.
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