SCHG vs. FMED

Last updated Jun 16, 2026

SCHG (Schwab U.S. Large-Cap Growth ETF) and FMED (Fidelity Disruptive Medicine ETF) are both exchange-traded funds - SCHG is a Large Cap Growth Equities fund tracking the Dow Jones U.S. Large-Cap Growth Total Stock Market Index, while FMED is a Health & Biotech Equities fund actively managed by Fidelity. SCHG is passively managed, while FMED is actively managed. Over the past 3 years, SCHG returned 23.27%/yr vs 0.73%/yr for FMED. A 0.56 correlation means they provide meaningful diversification when combined. SCHG charges 0.04%/yr vs 0.50%/yr for FMED.

Performance

SCHG vs. FMED - Performance Comparison

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

Returns By Period

In the year-to-date period, SCHG achieves a 5.03% return, which is significantly higher than FMED's -4.75% return.

SCHG

• 1D: 2.39%
• 1M: -0.12%
• YTD: 5.03%
• 6M: 5.98%
• 1Y: 23.20%
• 3Y*: 23.27%
• 5Y*: 14.85%
• 10Y*: 18.85%

FMED

• 1D: 0.90%
• 1M: 7.10%
• YTD: -4.75%
• 6M: -6.17%
• 1Y: 8.53%
• 3Y*: 0.73%
• 5Y*: —
• 10Y*: —

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

SCHG vs. FMED - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
SCHG Schwab U.S. Large-Cap Growth ETF	5.03%	17.50%	34.95%	15.98%
FMED Fidelity Disruptive Medicine ETF	-4.75%	9.69%	2.29%	-3.59%

Correlation

The correlation between SCHG and FMED 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 (1Y) Calculated over the trailing 1-year period	0.54
Correlation (3Y) Calculated over the trailing 3-year period	0.56
Correlation (All Time) Calculated using the full available price history since Jun 12, 2023	0.56

The correlation between SCHG and FMED has been stable across timeframes, ranging from 0.54 to 0.56 - a consistent structural relationship.

SCHG vs. FMED - Sectors Allocation Comparison

Sectors	SCHG	FMED
Technology	46.7%	0.9%
Communication Services	15.3%	-
Consumer Cyclical	12.4%	-
Healthcare	8.4%	97.1%
Financial Services	6.6%	-
Industrials	6.0%	-
Consumer Defensive	1.6%	-
Basic Materials	1.3%	-
Energy	0.7%	-
Real Estate	0.5%	-
Utilities	0.4%	-

Return for Risk

SCHG vs. FMED — Risk / Return Rank

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

SCHG

SCHG Risk / Return Rank: 40
SCHG Sharpe Ratio Rank: 46
SCHG Sortino Ratio Rank: 43
SCHG Omega Ratio Rank: 44
SCHG Calmar Ratio Rank: 32
SCHG Martin Ratio Rank: 34

FMED

FMED Risk / Return Rank: 15
FMED Sharpe Ratio Rank: 16
FMED Sortino Ratio Rank: 16
FMED Omega Ratio Rank: 15
FMED Calmar Ratio Rank: 14
FMED Martin Ratio Rank: 14

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.

SCHG vs. FMED - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Schwab U.S. Large-Cap Growth ETF (SCHG) and Fidelity Disruptive Medicine ETF (FMED). 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.

	SCHG	FMED	Difference
Sharpe ratio: Return per unit of total volatility	1.45	0.44	+1.01
Sortino ratio: Return per unit of downside risk	1.98	0.79	+1.19
Omega ratio: Gain probability vs. loss probability	1.26	1.09	+0.17
Calmar ratio: Return relative to maximum drawdown	1.42	0.47	+0.95
Martin ratio: Return relative to average drawdown	4.68	1.03	+3.65

SCHG vs. FMED - Sharpe Ratio Comparison

The current SCHG Sharpe Ratio is 1.45, which is higher than the FMED Sharpe Ratio of 0.44. The chart below compares the historical Sharpe Ratios of SCHG and FMED, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

SCHG vs. FMED - Drawdown Comparison

The maximum SCHG drawdown since its inception was -34.59%, which is greater than FMED's maximum drawdown of -21.84%. Use the drawdown chart below to compare losses from any high point for SCHG and FMED.

Drawdown Indicators

	SCHG	FMED	Difference
Max Drawdown Largest peak-to-trough decline	-34.59%	-21.84%	-12.75%
Max Drawdown (1Y) Largest decline over 1 year	-16.41%	-18.33%	+1.92%
Max Drawdown (3Y) Largest decline over 3 years	-23.39%	-21.84%	-1.55%
Max Drawdown (5Y) Largest decline over 5 years	-34.59%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-34.59%	—	—
Current Drawdown Current decline from peak	-3.06%	-10.64%	+7.58%
Average Drawdown Average peak-to-trough decline	-5.20%	-7.09%	+1.89%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.97%	8.27%	-3.30%

Volatility

SCHG vs. FMED - Volatility Comparison

The current volatility for Schwab U.S. Large-Cap Growth ETF (SCHG) is 5.59%, while Fidelity Disruptive Medicine ETF (FMED) has a volatility of 7.50%. This indicates that SCHG experiences smaller price fluctuations and is considered to be less risky than FMED based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SCHG	FMED	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.59%	7.50%	-1.91%
Volatility (6M) Calculated over the trailing 6-month period	12.52%	15.01%	-2.49%
Volatility (1Y) Calculated over the trailing 1-year period	16.09%	19.37%	-3.28%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	22.35%	18.57%	+3.78%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	21.60%	18.57%	+3.03%

SCHG vs. FMED - Expense Ratio Comparison

SCHG has a 0.04% expense ratio, which is lower than FMED's 0.50% expense ratio.

Dividends

SCHG vs. FMED - Dividend Comparison

SCHG's dividend yield for the trailing twelve months is around 0.37%, while FMED has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FMED Fidelity Disruptive Medicine ETF	0.00%	0.00%	0.46%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
SCHG Schwab U.S. Large-Cap Growth ETF	0.37%	0.36%	0.39%	0.46%	0.55%	0.42%	0.52%	0.82%	1.27%	1.01%	1.04%	1.22%

Frequently Asked Questions

Can I hold both SCHG and FMED in my portfolio?

SCHG and FMED 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.

Which is riskier, SCHG or FMED?

FMED has higher volatility (7.50%) compared to SCHG (5.59%). In terms of maximum drawdown, SCHG dropped -34.59% vs FMED's -21.84%.

Which ETF is better, SCHG or FMED?

On 3-year performance, SCHG leads with 23.27% vs 0.73% for FMED. On fees, SCHG is cheaper at 0.04% per year. On volatility, SCHG has been the lower-risk option at 5.59%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, SCHG or FMED?

Over the 3-year period, SCHG has performed better with a 23.27% return vs 0.73%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, SCHG or FMED?

SCHG is cheaper with a 0.04% expense ratio, compared with 0.50% for FMED.

Which ETF pays a higher dividend yield, SCHG or FMED?

SCHG has the higher dividend yield at 0.37%, compared with 0.00% for FMED.

What is the main difference between SCHG and FMED?

SCHG is categorized as Large Cap Growth Equities, while FMED is Health & Biotech Equities. They also come from different issuers: Charles Schwab and Fidelity. Their fees differ too: 0.04% for SCHG and 0.50% for FMED.

Which has better risk-adjusted returns?

SCHG currently has the higher Sharpe Ratio (1.45 vs 0.44), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.