IMCG vs. FEMG

Last updated Jun 3, 2026

IMCG (iShares Morningstar Mid-Cap Growth ETF) and FEMG (Fidelity Enhanced Mid Cap Growth ETF) are both Mid Cap Growth Equities funds. IMCG is passively managed, while FEMG is actively managed. A 0.72 correlation means they provide meaningful diversification when combined. IMCG charges 0.06%/yr vs 0.23%/yr for FEMG.

Performance

IMCG vs. FEMG - Performance Comparison

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

Returns By Period

IMCG

• 1D: 1.73%
• 1M: 8.63%
• YTD: 20.36%
• 6M: 19.45%
• 1Y: 25.02%
• 3Y*: 19.02%
• 5Y*: 8.90%
• 10Y*: 14.49%

FEMG

• 1D: -0.34%
• 1M: 4.84%
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

IMCG vs. FEMG - Yearly Performance Comparison

	2026 (YTD)
IMCG iShares Morningstar Mid-Cap Growth ETF	9.01%
FEMG Fidelity Enhanced Mid Cap Growth ETF	5.12%

Correlation

The correlation between IMCG and FEMG is 0.72, 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	0.72

IMCG vs. FEMG - Sectors Allocation Comparison

Sectors	IMCG	FEMG
Technology	30.4%	24.0%
Industrials	26.6%	26.5%
Consumer Cyclical	10.0%	17.4%
Financial Services	9.1%	6.0%
Healthcare	7.4%	12.6%
Basic Materials	4.5%	0.7%
Real Estate	3.4%	1.8%
Utilities	2.7%	2.9%
Communication Services	2.6%	2.7%
Energy	2.1%	3.3%
Consumer Defensive	1.2%	1.4%

Return for Risk

IMCG vs. FEMG — Risk / Return Rank

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

IMCG

IMCG Risk / Return Rank: 48
IMCG Sharpe Ratio Rank: 46
IMCG Sortino Ratio Rank: 46
IMCG Omega Ratio Rank: 43
IMCG Calmar Ratio Rank: 49
IMCG Martin Ratio Rank: 55

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.

IMCG vs. FEMG - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares Morningstar Mid-Cap Growth ETF (IMCG) 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.

	IMCG	FEMG	Difference
Sharpe ratio Return per unit of total volatility	1.62	—	—
Sortino ratio Return per unit of downside risk	2.31	—	—
Omega ratio Gain probability vs. loss probability	1.28	—	—
Calmar ratio Return relative to maximum drawdown	2.48	—	—
Martin ratio Return relative to average drawdown	9.66	—	—
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

	IMCG	FEMG	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.62	—	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.44	—	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.71	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.54	6.56	-6.02

Drawdowns

IMCG vs. FEMG - Drawdown Comparison

The maximum IMCG drawdown since its inception was -58.96%, which is greater than FEMG's maximum drawdown of -3.29%. Use the drawdown chart below to compare losses from any high point for IMCG and FEMG.

Drawdown Indicators

	IMCG	FEMG	Difference
Max Drawdown Largest peak-to-trough decline	-58.96%	-3.29%	-55.67%
Max Drawdown (1Y) Largest decline over 1 year	-10.17%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-21.92%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-35.08%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-35.08%	—	—
Current Drawdown Current decline from peak	0.00%	-0.34%	+0.34%
Average Drawdown Average peak-to-trough decline	-9.22%	-0.95%	-8.27%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.61%	—	—

Volatility

Volatility by Period

	IMCG	FEMG	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.62%	—	—
Volatility (6M) Calculated over the trailing 6-month period	12.57%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	15.53%	12.04%	+3.49%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	20.17%	12.04%	+8.13%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	20.52%	12.04%	+8.48%

IMCG vs. FEMG - Expense Ratio Comparison

IMCG has a 0.06% expense ratio, which is lower than FEMG's 0.23% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

IMCG vs. FEMG - Dividend Comparison

IMCG's dividend yield for the trailing twelve months is around 0.65%, while FEMG has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FEMG Fidelity Enhanced Mid Cap Growth ETF	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
IMCG iShares Morningstar Mid-Cap Growth ETF	0.65%	0.78%	0.78%	0.85%	0.91%	0.41%	0.09%	0.30%	0.35%	0.45%	0.52%	0.38%

Frequently Asked Questions

Can I hold both IMCG and FEMG in my portfolio?

IMCG and FEMG have a correlation of 0.72, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, IMCG or FEMG?

On fees, IMCG is cheaper at 0.06% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, IMCG or FEMG?

IMCG is cheaper with a 0.06% expense ratio, compared with 0.23% for FEMG.

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

IMCG has the higher dividend yield at 0.65%, compared with 0.00% for FEMG.

What is the main difference between IMCG and FEMG?

They also come from different issuers: iShares and Fidelity. Their fees differ too: 0.06% for IMCG and 0.23% for FEMG.