FMED vs. ALKS
FMED (Fidelity Disruptive Medicine ETF) is Health & Biotech Equities fund actively managed by Fidelity, while ALKS (Alkermes plc) is a stock. Over the past 3 years, FMED returned 0.73%/yr vs 11.28%/yr for ALKS. At a 0.39 correlation, their price movements are largely independent.
Performance
FMED vs. ALKS - Performance Comparison
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Returns By Period
In the year-to-date period, FMED achieves a -4.75% return, which is significantly lower than ALKS's 58.54% return.
FMED
- 1D
- 0.90%
- 1M
- 7.10%
- YTD
- -4.75%
- 6M
- -6.17%
- 1Y
- 8.53%
- 3Y*
- 0.73%
- 5Y*
- —
- 10Y*
- —
ALKS
- 1D
- 0.18%
- 1M
- 18.36%
- YTD
- 58.54%
- 6M
- 57.47%
- 1Y
- 48.71%
- 3Y*
- 11.28%
- 5Y*
- 12.07%
- 10Y*
- 0.70%
FMED vs. ALKS - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
FMED Fidelity Disruptive Medicine ETF | -4.75% | 9.69% | 2.29% | -3.59% |
ALKS Alkermes plc | 58.54% | -2.71% | 3.68% | -10.89% |
Correlation
The correlation between FMED and ALKS is 0.38, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.38 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.39 |
Correlation (All Time) Calculated using the full available price history since Jun 12, 2023 | 0.39 |
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Return for Risk
FMED vs. ALKS — Risk / Return Rank
FMED
ALKS
FMED vs. ALKS - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Fidelity Disruptive Medicine ETF (FMED) and Alkermes plc (ALKS). 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.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| FMED | ALKS | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.76 | ||
| Sortino ratioReturn per unit of downside risk | -1.13 | ||
| Omega ratioGain probability vs. loss probability | 1.09 | 1.24 | -0.15 |
| Calmar ratioReturn relative to maximum drawdown | 0.47 | 2.21 | -1.74 |
| Martin ratioReturn relative to average drawdown | 1.03 | 5.11 | -4.08 |
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Drawdowns
FMED vs. ALKS - Drawdown Comparison
The maximum FMED drawdown since its inception was -21.84%, smaller than the maximum ALKS drawdown of -96.14%. Use the drawdown chart below to compare losses from any high point for FMED and ALKS.
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Drawdown Indicators
| FMED | ALKS | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -21.84% | -96.14% | +74.30% |
Max Drawdown (1Y)Largest decline over 1 year | -18.33% | -22.20% | +3.87% |
Max Drawdown (3Y)Largest decline over 3 years | -21.84% | -31.58% | +9.74% |
Max Drawdown (5Y)Largest decline over 5 years | — | -33.18% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -80.58% | — |
Current DrawdownCurrent decline from peak | -10.64% | -54.76% | +44.12% |
Average DrawdownAverage peak-to-trough decline | -7.09% | -67.23% | +60.14% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 8.27% | 9.55% | -1.28% |
Volatility
FMED vs. ALKS - Volatility Comparison
The current volatility for Fidelity Disruptive Medicine ETF (FMED) is 7.50%, while Alkermes plc (ALKS) has a volatility of 10.43%. This indicates that FMED experiences smaller price fluctuations and is considered to be less risky than ALKS based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FMED | ALKS | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 7.50% | 10.43% | -2.93% |
Volatility (6M)Calculated over the trailing 6-month period | 15.01% | 30.28% | -15.27% |
Volatility (1Y)Calculated over the trailing 1-year period | 19.37% | 40.79% | -21.42% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 18.57% | 37.33% | -18.76% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.57% | 41.31% | -22.74% |
Dividends
FMED vs. ALKS - Dividend Comparison
Neither FMED nor ALKS has paid dividends to shareholders.
| Position | TTM | 2025 | 2024 |
|---|---|---|---|
ALKS Alkermes plc | 0.00% | 0.00% | 0.00% |
FMED Fidelity Disruptive Medicine ETF | 0.00% | 0.00% | 0.46% |
Frequently Asked Questions
FMED and ALKS have a correlation of 0.38, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
ALKS has higher volatility (10.43%) compared to FMED (7.50%). In terms of maximum drawdown, FMED dropped -21.84% vs ALKS's -96.14%.
ALKS currently has the higher Sharpe Ratio (1.20 vs 0.44), 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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