FMDE vs. HAMVX

Last updated Jun 4, 2026

FMDE (Fidelity Enhanced Mid Cap ETF) and HAMVX (Harbor Mid Cap Value Fund) are both funds - FMDE is a Mid Cap Blend Equities fund actively managed by Fidelity, while HAMVX is a Mid Cap Value Equities fund managed by Harbor. Over the past year, FMDE returned 20.62% vs 35.32% for HAMVX. Their correlation of 0.88 suggests significant overlap in exposure. FMDE charges 0.23%/yr vs 0.85%/yr for HAMVX.

Performance

FMDE vs. HAMVX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity Enhanced Mid Cap ETF (FMDE) and Harbor Mid Cap Value Fund (HAMVX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FMDE achieves a 10.39% return, which is significantly lower than HAMVX's 16.65% return.

FMDE

• 1D: -0.20%
• 1M: 4.14%
• YTD: 10.39%
• 6M: 10.80%
• 1Y: 20.62%
• 3Y*: —
• 5Y*: —
• 10Y*: —

HAMVX

• 1D: 0.47%
• 1M: 3.32%
• YTD: 16.65%
• 6M: 17.88%
• 1Y: 35.32%
• 3Y*: 20.77%
• 5Y*: 10.71%
• 10Y*: 10.55%

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

FMDE vs. HAMVX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
FMDE Fidelity Enhanced Mid Cap ETF	10.39%	12.19%	21.76%	8.91%
HAMVX Harbor Mid Cap Value Fund	16.65%	16.00%	12.10%	9.16%

Correlation

The correlation between FMDE and HAMVX is 0.86, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.86
Correlation (All Time) Calculated using the full available price history since Nov 21, 2023	0.88

The correlation between FMDE and HAMVX has been stable across timeframes, ranging from 0.86 to 0.88 - a consistent structural relationship.

Return for Risk

FMDE vs. HAMVX — Risk / Return Rank

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

FMDE

FMDE Risk / Return Rank: 46
FMDE Sharpe Ratio Rank: 43
FMDE Sortino Ratio Rank: 43
FMDE Omega Ratio Rank: 41
FMDE Calmar Ratio Rank: 50
FMDE Martin Ratio Rank: 56

HAMVX

HAMVX Risk / Return Rank: 86
HAMVX Sharpe Ratio Rank: 85
HAMVX Sortino Ratio Rank: 84
HAMVX Omega Ratio Rank: 74
HAMVX Calmar Ratio Rank: 94
HAMVX Martin Ratio Rank: 91

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.

FMDE vs. HAMVX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Enhanced Mid Cap ETF (FMDE) and Harbor Mid Cap Value Fund (HAMVX). 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	HAMVX	Difference
Sharpe ratio: Return per unit of total volatility	1.52	2.75	-1.23
Sortino ratio: Return per unit of downside risk	2.20	3.97	-1.77
Omega ratio: Gain probability vs. loss probability	1.27	1.48	-0.21
Calmar ratio: Return relative to maximum drawdown	2.49	5.41	-2.92
Martin ratio: Return relative to average drawdown	9.84	19.16	-9.31
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

FMDE vs. HAMVX - Sharpe Ratio Comparison

The current FMDE Sharpe Ratio is 1.52, which is lower than the HAMVX Sharpe Ratio of 2.75. The chart below compares the historical Sharpe Ratios of FMDE and HAMVX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	FMDE	HAMVX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.52	2.75	-1.23
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.57	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.48	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.35	0.40	+0.95

Drawdowns

FMDE vs. HAMVX - Drawdown Comparison

The maximum FMDE drawdown since its inception was -21.10%, smaller than the maximum HAMVX drawdown of -64.17%. Use the drawdown chart below to compare losses from any high point for FMDE and HAMVX.

Drawdown Indicators

	FMDE	HAMVX	Difference
Max Drawdown Largest peak-to-trough decline	-21.10%	-64.17%	+43.07%
Max Drawdown (1Y) Largest decline over 1 year	-8.33%	-6.84%	-1.49%
Max Drawdown (3Y) Largest decline over 3 years	—	-21.04%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-21.04%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-51.44%	—
Current Drawdown Current decline from peak	-0.20%	0.00%	-0.20%
Average Drawdown Average peak-to-trough decline	-2.65%	-9.98%	+7.33%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.10%	1.93%	+0.17%

Volatility

FMDE vs. HAMVX - Volatility Comparison

Fidelity Enhanced Mid Cap ETF (FMDE) and Harbor Mid Cap Value Fund (HAMVX) have volatilities of 3.24% and 3.24%, 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.

Volatility by Period

	FMDE	HAMVX	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.24%	3.24%	0.00%
Volatility (6M) Calculated over the trailing 6-month period	9.82%	9.24%	+0.58%
Volatility (1Y) Calculated over the trailing 1-year period	13.61%	13.45%	+0.16%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.13%	18.83%	-2.70%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.13%	21.90%	-5.77%

FMDE vs. HAMVX - Expense Ratio Comparison

FMDE has a 0.23% expense ratio, which is lower than HAMVX's 0.85% expense ratio.

Dividends

FMDE vs. HAMVX - Dividend Comparison

FMDE's dividend yield for the trailing twelve months is around 1.10%, less than HAMVX's 7.43% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FMDE Fidelity Enhanced Mid Cap ETF	1.10%	1.23%	1.11%	0.10%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
HAMVX Harbor Mid Cap Value Fund	7.43%	8.67%	5.77%	7.20%	8.24%	1.27%	2.35%	3.10%	8.41%	3.84%	3.06%	3.30%

Frequently Asked Questions

Can I hold both FMDE and HAMVX in my portfolio?

FMDE and HAMVX have a correlation of 0.86, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FMDE or HAMVX?

HAMVX has higher volatility (3.24%) compared to FMDE (3.24%). In terms of maximum drawdown, FMDE dropped -21.10% vs HAMVX's -64.17%.

Which has better risk-adjusted returns?

HAMVX currently has the higher Sharpe Ratio (2.75 vs 1.52), 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.