FMED vs. CHPY

Last updated Jun 16, 2026

FMED (Fidelity Disruptive Medicine ETF) and CHPY (YieldMax Semiconductor Portfolio Option Income ETF) are both exchange-traded funds - FMED is a Health & Biotech Equities fund actively managed by Fidelity, while CHPY is a Derivative Income fund actively managed by YieldMax. Both are actively managed. Over the past year, FMED returned 8.53% vs 148.83% for CHPY. At a 0.44 correlation, their price movements are largely independent. FMED charges 0.50%/yr vs 0.99%/yr for CHPY.

Performance

FMED vs. CHPY - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity Disruptive Medicine ETF (FMED) and YieldMax Semiconductor Portfolio Option Income ETF (CHPY). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FMED achieves a -4.75% return, which is significantly lower than CHPY's 88.78% return.

FMED

• 1D: 0.90%
• 1M: 7.10%
• YTD: -4.75%
• 6M: -6.17%
• 1Y: 8.53%
• 3Y*: 0.73%
• 5Y*: —
• 10Y*: —

CHPY

• 1D: 5.00%
• 1M: 22.07%
• YTD: 88.78%
• 6M: 92.44%
• 1Y: 148.83%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

FMED vs. CHPY - Yearly Performance Comparison

	2026 (YTD)	2025
FMED Fidelity Disruptive Medicine ETF	-4.75%	14.78%
CHPY YieldMax Semiconductor Portfolio Option Income ETF	88.78%	56.76%

Correlation

The correlation between FMED and CHPY 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 (All Time) Calculated using the full available price history since Apr 3, 2025	0.44

Return for Risk

FMED vs. CHPY — Risk / Return Rank

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

FMED

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

CHPY

CHPY Risk / Return Rank: 97
CHPY Sharpe Ratio Rank: 98
CHPY Sortino Ratio Rank: 95
CHPY Omega Ratio Rank: 96
CHPY Calmar Ratio Rank: 98
CHPY Martin Ratio Rank: 97

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.

FMED vs. CHPY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Disruptive Medicine ETF (FMED) and YieldMax Semiconductor Portfolio Option Income ETF (CHPY). 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	CHPY	Difference
Sharpe ratio: Return per unit of total volatility	0.44	4.83	-4.39
Sortino ratio: Return per unit of downside risk	0.79	4.95	-4.16
Omega ratio: Gain probability vs. loss probability	1.09	1.73	-0.64
Calmar ratio: Return relative to maximum drawdown	0.47	12.31	-11.84
Martin ratio: Return relative to average drawdown	1.03	43.93	-42.89

FMED vs. CHPY - Sharpe Ratio Comparison

The current FMED Sharpe Ratio is 0.44, which is lower than the CHPY Sharpe Ratio of 4.83. The chart below compares the historical Sharpe Ratios of FMED and CHPY, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

FMED vs. CHPY - Drawdown Comparison

The maximum FMED drawdown since its inception was -21.84%, which is greater than CHPY's maximum drawdown of -12.19%. Use the drawdown chart below to compare losses from any high point for FMED and CHPY.

Drawdown Indicators

	FMED	CHPY	Difference
Max Drawdown Largest peak-to-trough decline	-21.84%	-12.19%	-9.65%
Max Drawdown (1Y) Largest decline over 1 year	-18.33%	-12.17%	-6.16%
Max Drawdown (3Y) Largest decline over 3 years	-21.84%	—	—
Current Drawdown Current decline from peak	-10.64%	0.00%	-10.64%
Average Drawdown Average peak-to-trough decline	-7.09%	-2.12%	-4.97%
Ulcer Index Depth and duration of drawdowns from previous peaks	8.27%	3.40%	+4.87%

Volatility

FMED vs. CHPY - Volatility Comparison

The current volatility for Fidelity Disruptive Medicine ETF (FMED) is 7.50%, while YieldMax Semiconductor Portfolio Option Income ETF (CHPY) has a volatility of 17.55%. This indicates that FMED experiences smaller price fluctuations and is considered to be less risky than CHPY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FMED	CHPY	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.50%	17.55%	-10.05%
Volatility (6M) Calculated over the trailing 6-month period	15.01%	26.62%	-11.61%
Volatility (1Y) Calculated over the trailing 1-year period	19.37%	31.06%	-11.69%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.57%	35.45%	-16.88%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.57%	35.45%	-16.88%

FMED vs. CHPY - Expense Ratio Comparison

FMED has a 0.50% expense ratio, which is lower than CHPY's 0.99% expense ratio.

Dividends

FMED vs. CHPY - Dividend Comparison

FMED has not paid dividends to shareholders, while CHPY's dividend yield for the trailing twelve months is around 28.02%.

Position	TTM	2025	2024
CHPY YieldMax Semiconductor Portfolio Option Income ETF	28.02%	28.19%	0.00%
FMED Fidelity Disruptive Medicine ETF	0.00%	0.00%	0.46%

Frequently Asked Questions

Can I hold both FMED and CHPY in my portfolio?

FMED and CHPY 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.

Which is riskier, FMED or CHPY?

CHPY has higher volatility (17.55%) compared to FMED (7.50%). In terms of maximum drawdown, FMED dropped -21.84% vs CHPY's -12.19%.

Which ETF is better, FMED or CHPY?

On 1-year performance, CHPY leads with 148.83% vs 8.53% for FMED. On fees, FMED is cheaper at 0.50% per year. On volatility, FMED has been the lower-risk option at 7.50%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, FMED or CHPY?

Over the 1-year period, CHPY has performed better with a 148.83% return vs 8.53%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, FMED or CHPY?

FMED is cheaper with a 0.50% expense ratio, compared with 0.99% for CHPY.

Which ETF pays a higher dividend yield, FMED or CHPY?

CHPY has the higher dividend yield at 28.02%, compared with 0.00% for FMED.

What is the main difference between FMED and CHPY?

FMED is categorized as Health & Biotech Equities, while CHPY is Derivative Income. They also come from different issuers: Fidelity and YieldMax. Their fees differ too: 0.50% for FMED and 0.99% for CHPY.

Which has better risk-adjusted returns?

CHPY currently has the higher Sharpe Ratio (4.83 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.