FMED vs. FDFF

Last updated Jun 3, 2026

FMED (Fidelity Disruptive Medicine ETF) and FDFF (Fidelity Disruptive Finance ETF) are both exchange-traded funds - FMED is a Health & Biotech Equities fund actively managed by Fidelity, while FDFF is a Financials Equities fund actively managed by Fidelity. Both are actively managed. Over the past year, FMED returned 4.49% vs -10.97% for FDFF. A 0.61 correlation means they provide meaningful diversification when combined. Both charge a 0.50% expense ratio.

Performance

FMED vs. FDFF - Performance Comparison

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

Returns By Period

In the year-to-date period, FMED achieves a -9.30% return, which is significantly lower than FDFF's -7.22% return.

FMED

• 1D: -1.51%
• 1M: -0.65%
• YTD: -9.30%
• 6M: -12.64%
• 1Y: 4.49%
• 3Y*: —
• 5Y*: —
• 10Y*: —

FDFF

• 1D: -1.53%
• 1M: -2.65%
• YTD: -7.22%
• 6M: -4.06%
• 1Y: -10.97%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

FMED vs. FDFF - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
FMED Fidelity Disruptive Medicine ETF	-9.30%	9.69%	2.29%	-4.20%
FDFF Fidelity Disruptive Finance ETF	-7.22%	-2.75%	27.86%	15.99%

Correlation

The correlation between FMED and FDFF is 0.56, 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	0.56
Correlation (All Time) Calculated using the full available price history since Jun 13, 2023	0.61

The correlation between FMED and FDFF has been stable across timeframes, ranging from 0.56 to 0.61 - a consistent structural relationship.

FMED vs. FDFF - Sectors Allocation Comparison

Sectors	FMED	FDFF
Healthcare	98.0%	-
Technology	1.0%	19.1%
Basic Materials	-	-
Communication Services	-	-
Consumer Cyclical	-	0.8%
Consumer Defensive	-	-
Energy	-	-
Financial Services	-	74.7%
Industrials	-	3.4%
Real Estate	-	0.8%
Utilities	-	-

Return for Risk

FMED vs. FDFF — Risk / Return Rank

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

FMED

FMED Risk / Return Rank: 12
FMED Sharpe Ratio Rank: 12
FMED Sortino Ratio Rank: 12
FMED Omega Ratio Rank: 12
FMED Calmar Ratio Rank: 11
FMED Martin Ratio Rank: 11

FDFF

FDFF Risk / Return Rank: 4
FDFF Sharpe Ratio Rank: 4
FDFF Sortino Ratio Rank: 4
FDFF Omega Ratio Rank: 4
FDFF Calmar Ratio Rank: 4
FDFF Martin Ratio Rank: 4

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. FDFF - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Disruptive Medicine ETF (FMED) and Fidelity Disruptive Finance ETF (FDFF). 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.

	FMED	FDFF	Difference
Sharpe ratio Return per unit of total volatility	0.24	-0.61	+0.85
Sortino ratio Return per unit of downside risk	0.49	-0.74	+1.24
Omega ratio Gain probability vs. loss probability	1.05	0.91	+0.14
Calmar ratio Return relative to maximum drawdown	0.27	-0.49	+0.75
Martin ratio Return relative to average drawdown	0.62	-1.01	+1.63
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

FMED vs. FDFF - Sharpe Ratio Comparison

The current FMED Sharpe Ratio is 0.24, which is higher than the FDFF Sharpe Ratio of -0.61. The chart below compares the historical Sharpe Ratios of FMED and FDFF, 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

	FMED	FDFF	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.24	-0.61	+0.85
Sharpe Ratio (All Time) Calculated using the full available price history	-0.05	0.55	-0.59

Drawdowns

FMED vs. FDFF - Drawdown Comparison

The maximum FMED drawdown since its inception was -21.84%, smaller than the maximum FDFF drawdown of -23.06%. Use the drawdown chart below to compare losses from any high point for FMED and FDFF.

Drawdown Indicators

	FMED	FDFF	Difference
Max Drawdown Largest peak-to-trough decline	-21.84%	-23.06%	+1.22%
Max Drawdown (1Y) Largest decline over 1 year	-18.33%	-22.31%	+3.98%
Current Drawdown Current decline from peak	-14.91%	-15.74%	+0.83%
Average Drawdown Average peak-to-trough decline	-7.03%	-6.30%	-0.73%
Ulcer Index Depth and duration of drawdowns from previous peaks	7.90%	10.77%	-2.87%

Volatility

FMED vs. FDFF - Volatility Comparison

Fidelity Disruptive Medicine ETF (FMED) has a higher volatility of 5.65% compared to Fidelity Disruptive Finance ETF (FDFF) at 3.61%. This indicates that FMED's price experiences larger fluctuations and is considered to be riskier than FDFF based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FMED	FDFF	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.65%	3.61%	+2.04%
Volatility (6M) Calculated over the trailing 6-month period	14.21%	13.94%	+0.27%
Volatility (1Y) Calculated over the trailing 1-year period	18.59%	18.01%	+0.58%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.39%	18.96%	-0.57%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.39%	18.96%	-0.57%

FMED vs. FDFF - Expense Ratio Comparison

Both FMED and FDFF have an expense ratio of 0.50%.

Dividends

FMED vs. FDFF - Dividend Comparison

FMED has not paid dividends to shareholders, while FDFF's dividend yield for the trailing twelve months is around 0.98%.

Position	TTM	2025	2024	2023
FDFF Fidelity Disruptive Finance ETF	0.98%	0.86%	0.70%	0.27%
FMED Fidelity Disruptive Medicine ETF	0.00%	0.00%	0.46%	0.00%

Frequently Asked Questions

Can I hold both FMED and FDFF in my portfolio?

FMED and FDFF have a correlation of 0.56, 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 FDFF?

FMED has higher volatility (5.65%) compared to FDFF (3.61%). In terms of maximum drawdown, FMED dropped -21.84% vs FDFF's -23.06%.

Which ETF is better, FMED or FDFF?

On 1-year performance, FMED leads with 4.49% vs -10.97% for FDFF. Both ETFs have the same 0.50% expense ratio. On volatility, FDFF has been the lower-risk option at 3.61%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, FMED or FDFF?

Over the 1-year period, FMED has performed better with a 4.49% return vs -10.97%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, FMED or FDFF?

FMED and FDFF have the same expense ratio: 0.50% per year.

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

FDFF has the higher dividend yield at 0.98%, compared with 0.00% for FMED.

What is the main difference between FMED and FDFF?

FMED is categorized as Health & Biotech Equities, while FDFF is Financials Equities.

Which has better risk-adjusted returns?

FMED currently has the higher Sharpe Ratio (0.24 vs -0.61), 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.