FMED vs. FELG

Last updated Apr 2, 2026

Compare and contrast key facts about Fidelity Disruptive Medicine ETF (FMED) and Fidelity Enhanced Large Cap Growth ETF (FELG).

FMED and FELG are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. FMED is an actively managed fund by Fidelity. It was launched on Apr 16, 2020. FELG is an actively managed fund by Fidelity. It was launched on Nov 20, 2023.

Performance

FMED vs. FELG - Performance Comparison

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

FMED vs. FELG - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
FMED Fidelity Disruptive Medicine ETF	-8.72%	9.69%	2.29%	13.17%
FELG Fidelity Enhanced Large Cap Growth ETF	-9.08%	18.44%	35.45%	4.20%

Returns By Period

The year-to-date returns for both stocks are quite close, with FMED having a -8.72% return and FELG slightly lower at -9.08%.

FMED

• 1D: 0.50%
• 1M: -5.09%
• YTD: -8.72%
• 6M: -1.81%
• 1Y: 6.64%
• 3Y*: —
• 5Y*: —
• 10Y*: —

FELG

• 1D: 1.04%
• 1M: -4.28%
• YTD: -9.08%
• 6M: -8.16%
• 1Y: 19.66%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

FMED vs. FELG - Expense Ratio Comparison

FMED has a 0.50% expense ratio, which is higher than FELG's 0.18% expense ratio.

FMED

Fidelity Disruptive Medicine ETF

FELG

Fidelity Enhanced Large Cap Growth ETF

Return for Risk

FMED vs. FELG — Risk / Return Rank

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

FMED

FMED Risk / Return Rank: 18
FMED Sharpe Ratio Rank: 19
FMED Sortino Ratio Rank: 21
FMED Omega Ratio Rank: 19
FMED Calmar Ratio Rank: 16
FMED Martin Ratio Rank: 17

FELG

FELG Risk / Return Rank: 48
FELG Sharpe Ratio Rank: 46
FELG Sortino Ratio Rank: 51
FELG Omega Ratio Rank: 50
FELG Calmar Ratio Rank: 47
FELG Martin Ratio Rank: 45

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. FELG - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Disruptive Medicine ETF (FMED) and Fidelity Enhanced Large Cap Growth ETF (FELG). 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	FELG	Difference
Sharpe ratio Return per unit of total volatility	0.31	0.87	-0.56
Sortino ratio Return per unit of downside risk	0.61	1.41	-0.80
Omega ratio Gain probability vs. loss probability	1.07	1.20	-0.13
Calmar ratio Return relative to maximum drawdown	0.25	1.28	-1.03
Martin ratio Return relative to average drawdown	0.77	4.39	-3.62
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. FELG - Sharpe Ratio Comparison

The current FMED Sharpe Ratio is 0.31, which is lower than the FELG Sharpe Ratio of 0.87. The chart below compares the historical Sharpe Ratios of FMED and FELG, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	FMED	FELG	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.31	0.87	-0.56
Sharpe Ratio (All Time) Calculated using the full available price history	-0.04	0.97	-1.00

Correlation

The correlation between FMED and FELG is 0.53, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.

Dividends

FMED vs. FELG - Dividend Comparison

FMED has not paid dividends to shareholders, while FELG's dividend yield for the trailing twelve months is around 0.40%.

	TTM	2025	2024	2023
FMED Fidelity Disruptive Medicine ETF	0.00%	0.00%	0.46%	0.00%
FELG Fidelity Enhanced Large Cap Growth ETF	0.40%	0.38%	0.44%	0.11%

Drawdowns

FMED vs. FELG - Drawdown Comparison

The maximum FMED drawdown since its inception was -21.84%, smaller than the maximum FELG drawdown of -23.89%. Use the drawdown chart below to compare losses from any high point for FMED and FELG.

Drawdown Indicators

	FMED	FELG	Difference
Max Drawdown Largest peak-to-trough decline	-21.84%	-23.89%	+2.05%
Max Drawdown (1Y) Largest decline over 1 year	-18.33%	-16.17%	-2.16%
Current Drawdown Current decline from peak	-14.38%	-11.99%	-2.39%
Average Drawdown Average peak-to-trough decline	-6.65%	-3.57%	-3.08%
Ulcer Index Depth and duration of drawdowns from previous peaks	5.96%	4.73%	+1.23%

Volatility

FMED vs. FELG - Volatility Comparison

Fidelity Disruptive Medicine ETF (FMED) has a higher volatility of 8.13% compared to Fidelity Enhanced Large Cap Growth ETF (FELG) at 6.95%. This indicates that FMED's price experiences larger fluctuations and is considered to be riskier than FELG based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FMED	FELG	Difference
Volatility (1M) Calculated over the trailing 1-month period	8.13%	6.95%	+1.18%
Volatility (6M) Calculated over the trailing 6-month period	13.94%	12.45%	+1.49%
Volatility (1Y) Calculated over the trailing 1-year period	21.32%	22.60%	-1.28%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.30%	20.23%	-1.93%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.30%	20.23%	-1.93%