SCHR vs. FMDE

Last updated Jun 9, 2026

SCHR (Schwab Intermediate-Term U.S. Treasury ETF) and FMDE (Fidelity Enhanced Mid Cap ETF) are both exchange-traded funds - SCHR is a Government Bonds fund tracking the Bloomberg US Treasury 3-10 Year Index, while FMDE is a Mid Cap Blend Equities fund actively managed by Fidelity. SCHR is passively managed, while FMDE is actively managed. Over the past year, SCHR returned 3.59% vs 17.86% for FMDE. At a 0.17 correlation, their price movements are largely independent. SCHR charges 0.05%/yr vs 0.23%/yr for FMDE.

Performance

SCHR vs. FMDE - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Schwab Intermediate-Term U.S. Treasury ETF (SCHR) and Fidelity Enhanced Mid Cap ETF (FMDE). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, SCHR achieves a -0.76% return, which is significantly lower than FMDE's 8.21% return.

SCHR

• 1D: -0.04%
• 1M: -0.88%
• YTD: -0.76%
• 6M: -0.40%
• 1Y: 3.59%
• 3Y*: 3.39%
• 5Y*: -0.07%
• 10Y*: 1.15%

FMDE

• 1D: -0.18%
• 1M: 1.08%
• YTD: 8.21%
• 6M: 8.53%
• 1Y: 17.86%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

SCHR vs. FMDE - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
SCHR Schwab Intermediate-Term U.S. Treasury ETF	-0.76%	7.33%	1.42%	3.42%
FMDE Fidelity Enhanced Mid Cap ETF	8.21%	12.19%	21.76%	8.91%

Correlation

The correlation between SCHR and FMDE is 0.25, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.25
Correlation (All Time) Calculated using the full available price history since Nov 21, 2023	0.17

SCHR vs. FMDE - Sectors Allocation Comparison

Sectors	SCHR	FMDE
Technology	1.2%	20.6%
Financial Services	0.4%	12.9%
Basic Materials	-	3.9%
Communication Services	-	3.8%
Consumer Cyclical	-	12.1%
Consumer Defensive	-	1.7%
Energy	-	6.4%
Healthcare	-	7.8%
Industrials	-	20.1%
Real Estate	-	5.7%
Utilities	-	5.0%

Return for Risk

SCHR vs. FMDE — Risk / Return Rank

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

SCHR

SCHR Risk / Return Rank: 31
SCHR Sharpe Ratio Rank: 32
SCHR Sortino Ratio Rank: 33
SCHR Omega Ratio Rank: 30
SCHR Calmar Ratio Rank: 29
SCHR Martin Ratio Rank: 29

FMDE

FMDE Risk / Return Rank: 45
FMDE Sharpe Ratio Rank: 41
FMDE Sortino Ratio Rank: 41
FMDE Omega Ratio Rank: 39
FMDE Calmar Ratio Rank: 48
FMDE Martin Ratio Rank: 54

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.

SCHR vs. FMDE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Schwab Intermediate-Term U.S. Treasury ETF (SCHR) and Fidelity Enhanced Mid Cap ETF (FMDE). 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.

	SCHR	FMDE	Difference
Sharpe ratio: Return per unit of total volatility	1.07	1.31	-0.23
Sortino ratio: Return per unit of downside risk	1.63	1.89	-0.26
Omega ratio: Gain probability vs. loss probability	1.19	1.23	-0.05
Calmar ratio: Return relative to maximum drawdown	1.29	2.15	-0.86
Martin ratio: Return relative to average drawdown	3.75	8.49	-4.73
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

SCHR vs. FMDE - Sharpe Ratio Comparison

The current SCHR Sharpe Ratio is 1.07, which is comparable to the FMDE Sharpe Ratio of 1.31. The chart below compares the historical Sharpe Ratios of SCHR and FMDE, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	SCHR	FMDE	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.07	1.31	-0.23
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.01	—	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.26	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.44	1.28	-0.85

Drawdowns

SCHR vs. FMDE - Drawdown Comparison

The maximum SCHR drawdown since its inception was -16.11%, smaller than the maximum FMDE drawdown of -21.10%. Use the drawdown chart below to compare losses from any high point for SCHR and FMDE.

Drawdown Indicators

	SCHR	FMDE	Difference
Max Drawdown Largest peak-to-trough decline	-16.11%	-21.10%	+4.99%
Max Drawdown (1Y) Largest decline over 1 year	-2.79%	-8.33%	+5.54%
Max Drawdown (3Y) Largest decline over 3 years	-4.35%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-15.07%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-16.11%	—	—
Current Drawdown Current decline from peak	-2.69%	-2.19%	-0.50%
Average Drawdown Average peak-to-trough decline	-3.64%	-2.64%	-1.00%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.96%	2.11%	-1.15%

Volatility

SCHR vs. FMDE - Volatility Comparison

The current volatility for Schwab Intermediate-Term U.S. Treasury ETF (SCHR) is 1.04%, while Fidelity Enhanced Mid Cap ETF (FMDE) has a volatility of 3.52%. This indicates that SCHR experiences smaller price fluctuations and is considered to be less risky than FMDE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SCHR	FMDE	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.04%	3.52%	-2.48%
Volatility (6M) Calculated over the trailing 6-month period	2.36%	10.03%	-7.67%
Volatility (1Y) Calculated over the trailing 1-year period	3.36%	13.75%	-10.39%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	5.38%	16.15%	-10.77%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	4.47%	16.15%	-11.68%

SCHR vs. FMDE - Expense Ratio Comparison

SCHR has a 0.05% expense ratio, which is lower than FMDE'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

SCHR vs. FMDE - Dividend Comparison

SCHR's dividend yield for the trailing twelve months is around 3.93%, more than FMDE's 1.13% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FMDE Fidelity Enhanced Mid Cap ETF	1.13%	1.23%	1.11%	0.10%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
SCHR Schwab Intermediate-Term U.S. Treasury ETF	3.93%	3.85%	3.77%	3.16%	2.02%	1.00%	1.62%	2.31%	2.11%	1.65%	1.45%	1.56%

Frequently Asked Questions

Can I hold both SCHR and FMDE in my portfolio?

SCHR and FMDE have a correlation of 0.25, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, SCHR or FMDE?

FMDE has higher volatility (3.52%) compared to SCHR (1.04%). In terms of maximum drawdown, SCHR dropped -16.11% vs FMDE's -21.10%.

Which ETF is better, SCHR or FMDE?

On 1-year performance, FMDE leads with 17.86% vs 3.59% for SCHR. On fees, SCHR is cheaper at 0.05% per year. On volatility, SCHR has been the lower-risk option at 1.04%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, SCHR or FMDE?

Over the 1-year period, FMDE has performed better with a 17.86% return vs 3.59%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, SCHR or FMDE?

SCHR is cheaper with a 0.05% expense ratio, compared with 0.23% for FMDE.

Which ETF pays a higher dividend yield, SCHR or FMDE?

SCHR has the higher dividend yield at 3.93%, compared with 1.13% for FMDE.

What is the main difference between SCHR and FMDE?

SCHR is categorized as Government Bonds, while FMDE is Mid Cap Blend Equities. They also come from different issuers: Charles Schwab and Fidelity. Their fees differ too: 0.05% for SCHR and 0.23% for FMDE.

Which has better risk-adjusted returns?

FMDE currently has the higher Sharpe Ratio (1.31 vs 1.07), 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.