FMDE vs. PWC
Compare and contrast key facts about Fidelity Enhanced Mid Cap ETF (FMDE) and Invesco Dynamic Market ETF (PWC).
FMDE and PWC are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. FMDE is an actively managed fund by Fidelity. It was launched on Dec 20, 2007. PWC is a passively managed fund by Invesco that tracks the performance of the Dynamic Market Intellidex Index. It was launched on May 1, 2003.
Performance
FMDE vs. PWC - Performance Comparison
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FMDE vs. PWC - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
FMDE Fidelity Enhanced Mid Cap ETF | 0.13% | 12.19% | 21.76% | 8.91% |
PWC Invesco Dynamic Market ETF | 2.87% | 6.15% | 17.46% | 8.04% |
Returns By Period
In the year-to-date period, FMDE achieves a 0.13% return, which is significantly lower than PWC's 2.87% return.
FMDE
- 1D
- 1.00%
- 1M
- -4.31%
- YTD
- 0.13%
- 6M
- 1.18%
- 1Y
- 16.49%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
PWC
- 1D
- 0.27%
- 1M
- -4.86%
- YTD
- 2.87%
- 6M
- 3.46%
- 1Y
- 6.74%
- 3Y*
- 12.77%
- 5Y*
- 6.71%
- 10Y*
- 9.18%
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FMDE vs. PWC - Expense Ratio Comparison
FMDE has a 0.23% expense ratio, which is lower than PWC's 0.60% expense ratio.
Return for Risk
FMDE vs. PWC — Risk / Return Rank
FMDE
PWC
FMDE vs. PWC - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Fidelity Enhanced Mid Cap ETF (FMDE) and Invesco Dynamic Market ETF (PWC). 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 | PWC | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 0.88 | 0.48 | +0.40 |
Sortino ratioReturn per unit of downside risk | 1.34 | 0.77 | +0.57 |
Omega ratioGain probability vs. loss probability | 1.19 | 1.11 | +0.08 |
Calmar ratioReturn relative to maximum drawdown | 1.29 | 0.60 | +0.69 |
Martin ratioReturn relative to average drawdown | 6.09 | 2.73 | +3.36 |
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 | PWC | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.88 | 0.48 | +0.40 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | 0.41 | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.49 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 1.13 | 0.11 | +1.03 |
Correlation
The correlation between FMDE and PWC is 0.80, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.
Dividends
FMDE vs. PWC - Dividend Comparison
FMDE's dividend yield for the trailing twelve months is around 1.22%, less than PWC's 1.73% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FMDE Fidelity Enhanced Mid Cap ETF | 1.22% | 1.23% | 1.11% | 0.10% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
PWC Invesco Dynamic Market ETF | 1.73% | 1.77% | 1.58% | 1.67% | 1.51% | 0.56% | 1.09% | 0.95% | 1.44% | 1.75% | 1.35% | 1.02% |
Drawdowns
FMDE vs. PWC - Drawdown Comparison
The maximum FMDE drawdown since its inception was -21.10%, smaller than the maximum PWC drawdown of -78.13%. Use the drawdown chart below to compare losses from any high point for FMDE and PWC.
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Drawdown Indicators
| FMDE | PWC | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -21.10% | -78.13% | +57.03% |
Max Drawdown (1Y)Largest decline over 1 year | -13.43% | -11.26% | -2.17% |
Max Drawdown (5Y)Largest decline over 5 years | — | -26.58% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -39.45% | — |
Current DrawdownCurrent decline from peak | -4.79% | -5.11% | +0.32% |
Average DrawdownAverage peak-to-trough decline | -2.76% | -36.46% | +33.70% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.85% | 2.47% | +0.38% |
Volatility
FMDE vs. PWC - Volatility Comparison
Fidelity Enhanced Mid Cap ETF (FMDE) has a higher volatility of 5.55% compared to Invesco Dynamic Market ETF (PWC) at 3.09%. This indicates that FMDE's price experiences larger fluctuations and is considered to be riskier than PWC based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FMDE | PWC | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.55% | 3.09% | +2.46% |
Volatility (6M)Calculated over the trailing 6-month period | 10.74% | 7.37% | +3.37% |
Volatility (1Y)Calculated over the trailing 1-year period | 18.86% | 14.24% | +4.62% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.38% | 16.28% | +0.10% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.38% | 18.84% | -2.46% |