FMDE vs. SIXL

Last updated Jun 4, 2026

FMDE (Fidelity Enhanced Mid Cap ETF) and SIXL (ETC 6 Meridian Low Beta Equity Strategy ETF) are both Mid Cap Blend Equities funds. Both are actively managed. Over the past year, FMDE returned 20.62% vs 3.64% for SIXL. A 0.64 correlation means they provide meaningful diversification when combined. FMDE charges 0.23%/yr vs 0.47%/yr for SIXL.

Performance

FMDE vs. SIXL - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity Enhanced Mid Cap ETF (FMDE) and ETC 6 Meridian Low Beta Equity Strategy ETF (SIXL). 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 higher than SIXL's 3.41% return.

FMDE

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

SIXL

• 1D: -0.16%
• 1M: -2.82%
• YTD: 3.41%
• 6M: 2.41%
• 1Y: 3.64%
• 3Y*: 7.60%
• 5Y*: 3.45%
• 10Y*: —

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

FMDE vs. SIXL - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
FMDE Fidelity Enhanced Mid Cap ETF	10.39%	12.19%	21.76%	8.91%
SIXL ETC 6 Meridian Low Beta Equity Strategy ETF	3.41%	-0.61%	14.13%	5.33%

Correlation

The correlation between FMDE and SIXL is 0.51, 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	0.51
Correlation (All Time) Calculated using the full available price history since Nov 21, 2023	0.64

The correlation between FMDE and SIXL shifts across timeframes, from 0.51 (1 year) to 0.64 (all time), reflecting how their relationship changes across market environments.

FMDE vs. SIXL - Sectors Allocation Comparison

Sectors	FMDE	SIXL
Technology	20.6%	2.4%
Industrials	20.1%	6.4%
Financial Services	12.9%	15.2%
Consumer Cyclical	12.1%	6.8%
Healthcare	7.8%	14.5%
Energy	6.4%	2.1%
Real Estate	5.7%	13.6%
Utilities	5.0%	17.3%
Basic Materials	3.9%	2.2%
Communication Services	3.8%	2.6%
Consumer Defensive	1.7%	17.0%

Return for Risk

FMDE vs. SIXL — 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

SIXL

SIXL Risk / Return Rank: 15
SIXL Sharpe Ratio Rank: 15
SIXL Sortino Ratio Rank: 14
SIXL Omega Ratio Rank: 14
SIXL Calmar Ratio Rank: 16
SIXL Martin Ratio Rank: 17

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. SIXL - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Enhanced Mid Cap ETF (FMDE) and ETC 6 Meridian Low Beta Equity Strategy ETF (SIXL). 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	SIXL	Difference
Sharpe ratio: Return per unit of total volatility	1.52	0.38	+1.14
Sortino ratio: Return per unit of downside risk	2.20	0.60	+1.60
Omega ratio: Gain probability vs. loss probability	1.27	1.07	+0.20
Calmar ratio: Return relative to maximum drawdown	2.49	0.56	+1.93
Martin ratio: Return relative to average drawdown	9.84	1.58	+8.27
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. SIXL - Sharpe Ratio Comparison

The current FMDE Sharpe Ratio is 1.52, which is higher than the SIXL Sharpe Ratio of 0.38. The chart below compares the historical Sharpe Ratios of FMDE and SIXL, 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	SIXL	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.52	0.38	+1.14
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.29	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.35	0.63	+0.73

Drawdowns

FMDE vs. SIXL - Drawdown Comparison

The maximum FMDE drawdown since its inception was -21.10%, which is greater than SIXL's maximum drawdown of -16.08%. Use the drawdown chart below to compare losses from any high point for FMDE and SIXL.

Drawdown Indicators

	FMDE	SIXL	Difference
Max Drawdown Largest peak-to-trough decline	-21.10%	-16.08%	-5.02%
Max Drawdown (1Y) Largest decline over 1 year	-8.33%	-6.52%	-1.81%
Max Drawdown (3Y) Largest decline over 3 years	—	-11.65%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-16.08%	—
Current Drawdown Current decline from peak	-0.20%	-6.04%	+5.84%
Average Drawdown Average peak-to-trough decline	-2.65%	-4.57%	+1.92%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.10%	2.31%	-0.21%

Volatility

FMDE vs. SIXL - Volatility Comparison

Fidelity Enhanced Mid Cap ETF (FMDE) has a higher volatility of 3.24% compared to ETC 6 Meridian Low Beta Equity Strategy ETF (SIXL) at 2.36%. This indicates that FMDE's price experiences larger fluctuations and is considered to be riskier than SIXL based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FMDE	SIXL	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.24%	2.36%	+0.88%
Volatility (6M) Calculated over the trailing 6-month period	9.82%	6.61%	+3.21%
Volatility (1Y) Calculated over the trailing 1-year period	13.61%	9.50%	+4.11%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.13%	12.14%	+3.99%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.13%	12.55%	+3.58%

FMDE vs. SIXL - Expense Ratio Comparison

FMDE has a 0.23% expense ratio, which is lower than SIXL's 0.47% expense ratio.

Dividends

FMDE vs. SIXL - Dividend Comparison

FMDE's dividend yield for the trailing twelve months is around 1.10%, less than SIXL's 2.31% yield.

Position	TTM	2025	2024	2023	2022	2021	2020
FMDE Fidelity Enhanced Mid Cap ETF	1.10%	1.23%	1.11%	0.10%	0.00%	0.00%	0.00%
SIXL ETC 6 Meridian Low Beta Equity Strategy ETF	2.31%	2.31%	1.28%	1.48%	1.45%	0.67%	0.40%

Frequently Asked Questions

Can I hold both FMDE and SIXL in my portfolio?

FMDE and SIXL have a correlation of 0.51, 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 SIXL?

FMDE has higher volatility (3.24%) compared to SIXL (2.36%). In terms of maximum drawdown, FMDE dropped -21.10% vs SIXL's -16.08%.

Which ETF is better, FMDE or SIXL?

On 1-year performance, FMDE leads with 20.62% vs 3.64% for SIXL. On fees, FMDE is cheaper at 0.23% per year. On volatility, SIXL has been the lower-risk option at 2.36%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, FMDE or SIXL?

Over the 1-year period, FMDE has performed better with a 20.62% return vs 3.64%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, FMDE or SIXL?

FMDE is cheaper with a 0.23% expense ratio, compared with 0.47% for SIXL.

Which ETF pays a higher dividend yield, FMDE or SIXL?

SIXL has the higher dividend yield at 2.31%, compared with 1.10% for FMDE.

What is the main difference between FMDE and SIXL?

They also come from different issuers: Fidelity and Exchange Traded Concepts. Their fees differ too: 0.23% for FMDE and 0.47% for SIXL.

Which has better risk-adjusted returns?

FMDE currently has the higher Sharpe Ratio (1.52 vs 0.38), 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.