FRTY vs. FEMG

Last updated Jun 4, 2026

FRTY (Alger Mid Cap 40 ETF) and FEMG (Fidelity Enhanced Mid Cap Growth ETF) are both Mid Cap Growth Equities funds. Both are actively managed. A 0.78 correlation means they provide meaningful diversification when combined. FRTY charges 0.60%/yr vs 0.23%/yr for FEMG.

Performance

FRTY vs. FEMG - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Alger Mid Cap 40 ETF (FRTY) and Fidelity Enhanced Mid Cap Growth ETF (FEMG). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

FRTY

• 1D: -0.76%
• 1M: 10.48%
• YTD: 12.43%
• 6M: 12.10%
• 1Y: 30.04%
• 3Y*: 23.96%
• 5Y*: 4.95%
• 10Y*: —

FEMG

• 1D: -0.84%
• 1M: 3.74%
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

FRTY vs. FEMG - Yearly Performance Comparison

	2026 (YTD)
FRTY Alger Mid Cap 40 ETF	13.59%
FEMG Fidelity Enhanced Mid Cap Growth ETF	4.23%

Correlation

The correlation between FRTY and FEMG is 0.78, 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 May 1, 2026	0.78

FRTY vs. FEMG - Sectors Allocation Comparison

Sectors	FRTY	FEMG
Technology	24.1%	24.0%
Healthcare	20.2%	12.6%
Industrials	14.5%	26.5%
Communication Services	13.5%	2.7%
Consumer Cyclical	8.0%	17.4%
Energy	6.6%	3.3%
Utilities	6.0%	2.9%
Financial Services	4.5%	6.0%
Consumer Defensive	1.0%	1.4%
Basic Materials	-	0.7%
Real Estate	-	1.8%

Return for Risk

FRTY vs. FEMG — Risk / Return Rank

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

FRTY

FRTY Risk / Return Rank: 30
FRTY Sharpe Ratio Rank: 32
FRTY Sortino Ratio Rank: 31
FRTY Omega Ratio Rank: 30
FRTY Calmar Ratio Rank: 31
FRTY Martin Ratio Rank: 28

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.

FRTY vs. FEMG - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Alger Mid Cap 40 ETF (FRTY) and Fidelity Enhanced Mid Cap Growth ETF (FEMG). 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.

	FRTY	FEMG	Difference
Sharpe ratio: Return per unit of total volatility	1.17	—	—
Sortino ratio: Return per unit of downside risk	1.66	—	—
Omega ratio: Gain probability vs. loss probability	1.20	—	—
Calmar ratio: Return relative to maximum drawdown	1.53	—	—
Martin ratio: Return relative to average drawdown	3.97	—	—
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

Sharpe Ratios by Period

	FRTY	FEMG	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.17	—	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.18	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.14	4.78	-4.65

Drawdowns

FRTY vs. FEMG - Drawdown Comparison

The maximum FRTY drawdown since its inception was -53.15%, which is greater than FEMG's maximum drawdown of -3.29%. Use the drawdown chart below to compare losses from any high point for FRTY and FEMG.

Drawdown Indicators

	FRTY	FEMG	Difference
Max Drawdown Largest peak-to-trough decline	-53.15%	-3.29%	-49.86%
Max Drawdown (1Y) Largest decline over 1 year	-19.75%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-31.48%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-53.15%	—	—
Current Drawdown Current decline from peak	-0.76%	-1.18%	+0.42%
Average Drawdown Average peak-to-trough decline	-27.97%	-0.96%	-27.01%
Ulcer Index Depth and duration of drawdowns from previous peaks	7.59%	—	—

Volatility

Volatility by Period

	FRTY	FEMG	Difference
Volatility (1M) Calculated over the trailing 1-month period	9.01%	—	—
Volatility (6M) Calculated over the trailing 6-month period	18.38%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	25.86%	12.29%	+13.57%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	27.19%	12.29%	+14.90%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	27.11%	12.29%	+14.82%

FRTY vs. FEMG - Expense Ratio Comparison

FRTY has a 0.60% expense ratio, which is higher than FEMG's 0.23% expense ratio.

Dividends

FRTY vs. FEMG - Dividend Comparison

FRTY's dividend yield for the trailing twelve months is around 0.17%, while FEMG has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021
FEMG Fidelity Enhanced Mid Cap Growth ETF	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
FRTY Alger Mid Cap 40 ETF	0.17%	0.19%	0.10%	0.00%	0.00%	5.35%

Frequently Asked Questions

Can I hold both FRTY and FEMG in my portfolio?

FRTY and FEMG have a correlation of 0.78, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, FRTY or FEMG?

On fees, FEMG is cheaper at 0.23% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, FRTY or FEMG?

FEMG is cheaper with a 0.23% expense ratio, compared with 0.60% for FRTY.

Which ETF pays a higher dividend yield, FRTY or FEMG?

FRTY has the higher dividend yield at 0.17%, compared with 0.00% for FEMG.

What is the main difference between FRTY and FEMG?

They also come from different issuers: Alger Group Holdings LLC and Fidelity. Their fees differ too: 0.60% for FRTY and 0.23% for FEMG.