TMAT vs. FDTX

Last updated Jun 24, 2026

TMAT (Main Thematic Innovation ETF) and FDTX (Fidelity Disruptive Technology ETF) are both Technology Equities funds. TMAT is passively managed, while FDTX is actively managed. Over the past 3 years, TMAT returned 27.57%/yr vs 30.00%/yr for FDTX. Their correlation of 0.83 suggests significant overlap in exposure. TMAT charges 1.49%/yr vs 0.50%/yr for FDTX.

Performance

TMAT vs. FDTX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Main Thematic Innovation ETF (TMAT) and Fidelity Disruptive Technology ETF (FDTX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, TMAT achieves a 18.93% return, which is significantly lower than FDTX's 35.95% return.

TMAT

• 1D: -3.52%
• 1M: 3.97%
• YTD: 18.93%
• 6M: 16.10%
• 1Y: 34.95%
• 3Y*: 27.57%
• 5Y*: 4.62%
• 10Y*: —

FDTX

• 1D: -4.76%
• 1M: 8.87%
• YTD: 35.95%
• 6M: 34.56%
• 1Y: 49.22%
• 3Y*: 30.00%
• 5Y*: —
• 10Y*: —

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

TMAT vs. FDTX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
TMAT Main Thematic Innovation ETF	18.93%	20.06%	27.20%	13.91%
FDTX Fidelity Disruptive Technology ETF	35.95%	15.25%	23.99%	13.00%

Correlation

The correlation between TMAT and FDTX is 0.87, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.87
Correlation (3Y) Calculated over the trailing 3-year period	0.83
Correlation (All Time) Calculated using the full available price history since Jun 12, 2023	0.83

The correlation between TMAT and FDTX has been stable across timeframes, ranging from 0.83 to 0.87 - a consistent structural relationship.

TMAT vs. FDTX - Sectors Allocation Comparison

Sectors	TMAT	FDTX
Technology	53.0%	86.4%
Industrials	23.0%	0.5%
Basic Materials	11.2%	-
Healthcare	8.7%	-
Communication Services	2.4%	7.5%
Utilities	2.2%	-
Financial Services	2.1%	-
Consumer Cyclical	1.6%	5.6%
Energy	0.3%	-
Consumer Defensive	-	-
Real Estate	-	-

Return for Risk

TMAT vs. FDTX — Risk / Return Rank

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

TMAT

TMAT Risk / Return Rank: 36
TMAT Sharpe Ratio Rank: 41
TMAT Sortino Ratio Rank: 38
TMAT Omega Ratio Rank: 37
TMAT Calmar Ratio Rank: 35
TMAT Martin Ratio Rank: 29

FDTX

FDTX Risk / Return Rank: 52
FDTX Sharpe Ratio Rank: 55
FDTX Sortino Ratio Rank: 49
FDTX Omega Ratio Rank: 51
FDTX Calmar Ratio Rank: 54
FDTX Martin Ratio Rank: 49

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.

TMAT vs. FDTX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Main Thematic Innovation ETF (TMAT) and Fidelity Disruptive Technology ETF (FDTX). 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.

	TMAT	FDTX	Difference
Sharpe ratio: Return per unit of total volatility	1.36	1.80	-0.43
Sortino ratio: Return per unit of downside risk	1.85	2.33	-0.47
Omega ratio: Gain probability vs. loss probability	1.23	1.31	-0.08
Calmar ratio: Return relative to maximum drawdown	1.62	2.55	-0.93
Martin ratio: Return relative to average drawdown	3.77	7.89	-4.13

TMAT vs. FDTX - Sharpe Ratio Comparison

The current TMAT Sharpe Ratio is 1.36, which is comparable to the FDTX Sharpe Ratio of 1.80. The chart below compares the historical Sharpe Ratios of TMAT and FDTX, 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

TMAT vs. FDTX - Drawdown Comparison

The maximum TMAT drawdown since its inception was -58.55%, which is greater than FDTX's maximum drawdown of -27.23%. Use the drawdown chart below to compare losses from any high point for TMAT and FDTX.

Drawdown Indicators

	TMAT	FDTX	Difference
Max Drawdown Largest peak-to-trough decline	-58.55%	-27.23%	-31.32%
Max Drawdown (1Y) Largest decline over 1 year	-21.63%	-19.38%	-2.25%
Max Drawdown (3Y) Largest decline over 3 years	-33.42%	-27.23%	-6.19%
Max Drawdown (5Y) Largest decline over 5 years	-52.10%	—	—
Current Drawdown Current decline from peak	-4.36%	-5.05%	+0.69%
Average Drawdown Average peak-to-trough decline	-31.93%	-5.50%	-26.43%
Ulcer Index Depth and duration of drawdowns from previous peaks	9.30%	6.25%	+3.05%

Volatility

TMAT vs. FDTX - Volatility Comparison

The current volatility for Main Thematic Innovation ETF (TMAT) is 11.45%, while Fidelity Disruptive Technology ETF (FDTX) has a volatility of 15.19%. This indicates that TMAT experiences smaller price fluctuations and is considered to be less risky than FDTX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	TMAT	FDTX	Difference
Volatility (1M) Calculated over the trailing 1-month period	11.45%	15.19%	-3.74%
Volatility (6M) Calculated over the trailing 6-month period	18.86%	23.17%	-4.31%
Volatility (1Y) Calculated over the trailing 1-year period	25.75%	27.51%	-1.76%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	30.83%	26.40%	+4.43%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	30.75%	26.40%	+4.35%

TMAT vs. FDTX - Expense Ratio Comparison

TMAT has a 1.49% expense ratio, which is higher than FDTX's 0.50% expense ratio.

Dividends

TMAT vs. FDTX - Dividend Comparison

TMAT's dividend yield for the trailing twelve months is around 0.02%, while FDTX has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021
FDTX Fidelity Disruptive Technology ETF	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
TMAT Main Thematic Innovation ETF	0.02%	0.02%	0.00%	0.00%	0.34%	0.20%

Frequently Asked Questions

Can I hold both TMAT and FDTX in my portfolio?

TMAT and FDTX have a correlation of 0.87, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, TMAT or FDTX?

FDTX has higher volatility (15.19%) compared to TMAT (11.45%). In terms of maximum drawdown, TMAT dropped -58.55% vs FDTX's -27.23%.

Which ETF is better, TMAT or FDTX?

On 3-year performance, FDTX leads with 30.00% vs 27.57% for TMAT. On fees, FDTX is cheaper at 0.50% per year. On volatility, TMAT has been the lower-risk option at 11.45%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, TMAT or FDTX?

Over the 3-year period, FDTX has performed better with a 30.00% return vs 27.57%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, TMAT or FDTX?

FDTX is cheaper with a 0.50% expense ratio, compared with 1.49% for TMAT.

Which ETF pays a higher dividend yield, TMAT or FDTX?

TMAT has the higher dividend yield at 0.02%, compared with 0.00% for FDTX.

What is the main difference between TMAT and FDTX?

They also come from different issuers: Main Management and Fidelity. Their fees differ too: 1.49% for TMAT and 0.50% for FDTX.

Which has better risk-adjusted returns?

FDTX currently has the higher Sharpe Ratio (1.80 vs 1.36), 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.