FMED vs. PBPH
FMED (Fidelity Disruptive Medicine ETF) and PBPH (Portfolio Building Block World Pharma and Biotech Index ETF) are both Health & Biotech Equities funds. FMED is actively managed, while PBPH is passively managed. A 0.54 correlation means they provide meaningful diversification when combined. FMED charges 0.50%/yr vs 0.13%/yr for PBPH.
Performance
FMED vs. PBPH - Performance Comparison
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Returns By Period
In the year-to-date period, FMED achieves a -2.44% return, which is significantly lower than PBPH's 2.63% return.
FMED
- 1D
- 1.03%
- 1M
- 6.62%
- YTD
- -2.44%
- 6M
- -4.06%
- 1Y
- 12.97%
- 3Y*
- 1.97%
- 5Y*
- —
- 10Y*
- —
PBPH
- 1D
- 1.41%
- 1M
- 0.87%
- YTD
- 2.63%
- 6M
- 2.11%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
FMED vs. PBPH - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
FMED Fidelity Disruptive Medicine ETF | -2.44% | -4.22% |
PBPH Portfolio Building Block World Pharma and Biotech Index ETF | 2.63% | 0.74% |
Correlation
The correlation between FMED and PBPH is 0.54, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (All Time) Calculated using the full available price history since Nov 25, 2025 | 0.54 |
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Return for Risk
FMED vs. PBPH — Risk / Return Rank
FMED
PBPH
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
FMED vs. PBPH - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Fidelity Disruptive Medicine ETF (FMED) and Portfolio Building Block World Pharma and Biotech Index ETF (PBPH). 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 | PBPH | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | 1.13 | — | — |
| Calmar ratioReturn relative to maximum drawdown | 0.71 | — | — |
| Martin ratioReturn relative to average drawdown | 1.55 | — | — |
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Drawdowns
FMED vs. PBPH - Drawdown Comparison
The maximum FMED drawdown since its inception was -21.84%, which is greater than PBPH's maximum drawdown of -11.10%. Use the drawdown chart below to compare losses from any high point for FMED and PBPH.
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Drawdown Indicators
| FMED | PBPH | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -21.84% | -11.10% | -10.74% |
Max Drawdown (1Y)Largest decline over 1 year | -18.33% | — | — |
Max Drawdown (3Y)Largest decline over 3 years | -21.84% | — | — |
Current DrawdownCurrent decline from peak | -8.48% | -5.21% | -3.27% |
Average DrawdownAverage peak-to-trough decline | -7.11% | -4.36% | -2.75% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 8.38% | — | — |
Volatility
FMED vs. PBPH - Volatility Comparison
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Volatility by Period
| FMED | PBPH | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.57% | — | — |
Volatility (6M)Calculated over the trailing 6-month period | 15.04% | — | — |
Volatility (1Y)Calculated over the trailing 1-year period | 19.27% | 17.07% | +2.20% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 18.53% | 17.07% | +1.46% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.53% | 17.07% | +1.46% |
FMED vs. PBPH - Expense Ratio Comparison
FMED has a 0.50% expense ratio, which is higher than PBPH's 0.13% expense ratio.
Dividends
FMED vs. PBPH - Dividend Comparison
FMED has not paid dividends to shareholders, while PBPH's dividend yield for the trailing twelve months is around 0.09%.
| Position | TTM | 2025 | 2024 |
|---|---|---|---|
FMED Fidelity Disruptive Medicine ETF | 0.00% | 0.00% | 0.46% |
PBPH Portfolio Building Block World Pharma and Biotech Index ETF | 0.09% | 0.09% | 0.00% |
Frequently Asked Questions
FMED and PBPH have a correlation of 0.54, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, PBPH is cheaper at 0.13% per year. The better choice depends on whether you care most about return, fees, risk, or income.
PBPH is cheaper with a 0.13% expense ratio, compared with 0.50% for FMED.
PBPH has the higher dividend yield at 0.09%, compared with 0.00% for FMED.
They also come from different issuers: Fidelity and Portfolio Building Block. Their fees differ too: 0.50% for FMED and 0.13% for PBPH.
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