SCHM vs. FEMG

Last updated Jun 4, 2026

SCHM (Schwab US Mid-Cap ETF) and FEMG (Fidelity Enhanced Mid Cap Growth ETF) are both Mid Cap Growth Equities funds. SCHM is passively managed, while FEMG is actively managed. A 0.66 correlation means they provide meaningful diversification when combined. SCHM charges 0.04%/yr vs 0.23%/yr for FEMG.

Performance

SCHM vs. FEMG - Performance Comparison

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

Returns By Period

SCHM

• 1D: -0.03%
• 1M: 5.28%
• YTD: 19.05%
• 6M: 19.54%
• 1Y: 32.45%
• 3Y*: 18.14%
• 5Y*: 8.07%
• 10Y*: 11.37%

FEMG

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

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

SCHM vs. FEMG - Yearly Performance Comparison

	2026 (YTD)
SCHM Schwab US Mid-Cap ETF	5.18%
FEMG Fidelity Enhanced Mid Cap Growth ETF	5.12%

Correlation

The correlation between SCHM and FEMG is 0.66, 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	0.66

SCHM vs. FEMG - Sectors Allocation Comparison

Sectors	SCHM	FEMG
Technology	22.0%	24.0%
Industrials	21.4%	26.5%
Financial Services	11.3%	6.0%
Healthcare	10.8%	12.6%
Consumer Cyclical	10.3%	17.4%
Real Estate	6.5%	1.8%
Basic Materials	4.7%	0.7%
Consumer Defensive	3.8%	1.4%
Energy	3.6%	3.3%
Utilities	3.0%	2.9%
Communication Services	2.6%	2.7%

Return for Risk

SCHM vs. FEMG — Risk / Return Rank

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

SCHM

SCHM Risk / Return Rank: 65
SCHM Sharpe Ratio Rank: 61
SCHM Sortino Ratio Rank: 62
SCHM Omega Ratio Rank: 58
SCHM Calmar Ratio Rank: 69
SCHM Martin Ratio Rank: 73

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.

SCHM vs. FEMG - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Schwab US Mid-Cap ETF (SCHM) 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.

	SCHM	FEMG	Difference
Sharpe ratio Return per unit of total volatility	2.09	—	—
Sortino ratio Return per unit of downside risk	2.94	—	—
Omega ratio Gain probability vs. loss probability	1.36	—	—
Calmar ratio Return relative to maximum drawdown	3.50	—	—
Martin ratio Return relative to average drawdown	14.11	—	—
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

	SCHM	FEMG	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.09	—	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.41	—	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.56	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.59	6.56	-5.97

Drawdowns

SCHM vs. FEMG - Drawdown Comparison

The maximum SCHM drawdown since its inception was -42.43%, which is greater than FEMG's maximum drawdown of -3.29%. Use the drawdown chart below to compare losses from any high point for SCHM and FEMG.

Drawdown Indicators

	SCHM	FEMG	Difference
Max Drawdown Largest peak-to-trough decline	-42.43%	-3.29%	-39.14%
Max Drawdown (1Y) Largest decline over 1 year	-9.32%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-23.27%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-26.46%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-42.43%	—	—
Current Drawdown Current decline from peak	-0.03%	-0.34%	+0.31%
Average Drawdown Average peak-to-trough decline	-5.66%	-0.95%	-4.71%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.31%	—	—

Volatility

Volatility by Period

	SCHM	FEMG	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.72%	—	—
Volatility (6M) Calculated over the trailing 6-month period	11.74%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	15.62%	12.04%	+3.58%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	19.56%	12.04%	+7.52%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	20.46%	12.04%	+8.42%

SCHM vs. FEMG - Expense Ratio Comparison

SCHM has a 0.04% 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

SCHM vs. FEMG - Dividend Comparison

SCHM's dividend yield for the trailing twelve months is around 1.22%, 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%
SCHM Schwab US Mid-Cap ETF	1.22%	1.46%	1.43%	1.50%	1.67%	1.13%	1.31%	1.48%	1.56%	1.27%	1.51%	1.54%

Frequently Asked Questions

Can I hold both SCHM and FEMG in my portfolio?

SCHM and FEMG have a correlation of 0.66, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, SCHM or FEMG?

On fees, SCHM is cheaper at 0.04% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, SCHM or FEMG?

SCHM is cheaper with a 0.04% expense ratio, compared with 0.23% for FEMG.

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

SCHM has the higher dividend yield at 1.22%, compared with 0.00% for FEMG.

What is the main difference between SCHM and FEMG?

They also come from different issuers: Charles Schwab and Fidelity. Their fees differ too: 0.04% for SCHM and 0.23% for FEMG.