JMID vs. FEMG

Last updated Jun 5, 2026

JMID (Janus Henderson Mid Cap Growth Alpha ETF) and FEMG (Fidelity Enhanced Mid Cap Growth ETF) are both Mid Cap Growth Equities funds. Both are actively managed. Their correlation of 0.89 suggests significant overlap in exposure. JMID charges 0.30%/yr vs 0.23%/yr for FEMG.

Performance

JMID vs. FEMG - Performance Comparison

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

Returns By Period

JMID

• 1D: 0.81%
• 1M: 4.35%
• YTD: 10.46%
• 6M: 9.00%
• 1Y: 14.19%
• 3Y*: —
• 5Y*: —
• 10Y*: —

FEMG

• 1D: 0.91%
• 1M: 3.86%
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

JMID vs. FEMG - Yearly Performance Comparison

	2026 (YTD)
JMID Janus Henderson Mid Cap Growth Alpha ETF	5.52%
FEMG Fidelity Enhanced Mid Cap Growth ETF	5.19%

Correlation

The correlation between JMID and FEMG is 0.89, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (All Time) Calculated using the full available price history since May 1, 2026	0.89

JMID vs. FEMG - Sectors Allocation Comparison

Sectors	JMID	FEMG
Industrials	27.2%	26.5%
Consumer Cyclical	20.6%	17.4%
Technology	18.4%	24.0%
Healthcare	13.9%	12.6%
Financial Services	6.0%	6.0%
Communication Services	4.0%	2.7%
Consumer Defensive	3.5%	1.4%
Real Estate	2.4%	1.8%
Energy	2.0%	3.3%
Basic Materials	1.3%	0.7%
Utilities	0.9%	2.9%

Return for Risk

JMID vs. FEMG — Risk / Return Rank

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

JMID

JMID Risk / Return Rank: 26
JMID Sharpe Ratio Rank: 25
JMID Sortino Ratio Rank: 25
JMID Omega Ratio Rank: 23
JMID Calmar Ratio Rank: 28
JMID Martin Ratio Rank: 31

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.

JMID vs. FEMG - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Janus Henderson Mid Cap Growth Alpha ETF (JMID) 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.

	JMID	FEMG	Difference
Sharpe ratio: Return per unit of total volatility	0.86	—	—
Sortino ratio: Return per unit of downside risk	1.33	—	—
Omega ratio: Gain probability vs. loss probability	1.15	—	—
Calmar ratio: Return relative to maximum drawdown	1.32	—	—
Martin ratio: Return relative to average drawdown	4.42	—	—
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

	JMID	FEMG	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.86	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.77	5.84	-5.07

Drawdowns

JMID vs. FEMG - Drawdown Comparison

The maximum JMID drawdown since its inception was -25.58%, which is greater than FEMG's maximum drawdown of -3.29%. Use the drawdown chart below to compare losses from any high point for JMID and FEMG.

Drawdown Indicators

	JMID	FEMG	Difference
Max Drawdown Largest peak-to-trough decline	-25.58%	-3.29%	-22.29%
Max Drawdown (1Y) Largest decline over 1 year	-10.82%	—	—
Current Drawdown Current decline from peak	-0.28%	-0.28%	0.00%
Average Drawdown Average peak-to-trough decline	-4.57%	-0.93%	-3.64%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.22%	—	—

Volatility

Volatility by Period

	JMID	FEMG	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.23%	—	—
Volatility (6M) Calculated over the trailing 6-month period	12.68%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	16.56%	12.25%	+4.31%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	21.58%	12.25%	+9.33%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	21.58%	12.25%	+9.33%

JMID vs. FEMG - Expense Ratio Comparison

JMID has a 0.30% expense ratio, which is higher than FEMG's 0.23% expense ratio.

Dividends

JMID vs. FEMG - Dividend Comparison

JMID's dividend yield for the trailing twelve months is around 0.63%, while FEMG has not paid dividends to shareholders.

Position	TTM	2025	2024
FEMG Fidelity Enhanced Mid Cap Growth ETF	0.00%	0.00%	0.00%
JMID Janus Henderson Mid Cap Growth Alpha ETF	0.63%	0.75%	0.10%

Frequently Asked Questions

Can I hold both JMID and FEMG in my portfolio?

JMID and FEMG have a correlation of 0.89, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, JMID 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, JMID or FEMG?

FEMG is cheaper with a 0.23% expense ratio, compared with 0.30% for JMID.

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

JMID has the higher dividend yield at 0.63%, compared with 0.00% for FEMG.

What is the main difference between JMID and FEMG?

They also come from different issuers: Janus Henderson and Fidelity. Their fees differ too: 0.30% for JMID and 0.23% for FEMG.