USFE vs. FEMD

Last updated Jun 4, 2026

USFE (First Eagle US Equity ETF) and FEMD (First Eagle Mid Cap Equity ETF) are both exchange-traded funds - USFE is a Large Cap Value Equities fund actively managed by First Eagle, while FEMD is a Mid Cap Value Equities fund actively managed by First Eagle. Both are actively managed. A 0.64 correlation means they provide meaningful diversification when combined. USFE charges 0.45%/yr vs 0.55%/yr for FEMD.

Performance

USFE vs. FEMD - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in First Eagle US Equity ETF (USFE) and First Eagle Mid Cap Equity ETF (FEMD). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

USFE

• 1D: -0.63%
• 1M: 1.17%
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

FEMD

• 1D: 0.53%
• 1M: 3.25%
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

USFE vs. FEMD - Yearly Performance Comparison

	2026 (YTD)
USFE First Eagle US Equity ETF	-0.58%
FEMD First Eagle Mid Cap Equity ETF	4.76%

Correlation

The correlation between USFE and FEMD is 0.64, 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 Jan 28, 2026	0.64

Return for Risk

USFE vs. FEMD - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for First Eagle US Equity ETF (USFE) and First Eagle Mid Cap Equity ETF (FEMD). 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.

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

Sharpe Ratios by Period

	USFE	FEMD	Difference
Sharpe Ratio (All Time) Calculated using the full available price history	-0.14	0.71	-0.85

Drawdowns

USFE vs. FEMD - Drawdown Comparison

The maximum USFE drawdown since its inception was -9.37%, smaller than the maximum FEMD drawdown of -11.51%. Use the drawdown chart below to compare losses from any high point for USFE and FEMD.

Drawdown Indicators

	USFE	FEMD	Difference
Max Drawdown Largest peak-to-trough decline	-9.37%	-11.51%	+2.14%
Current Drawdown Current decline from peak	-3.62%	-0.06%	-3.56%
Average Drawdown Average peak-to-trough decline	-3.73%	-3.41%	-0.32%

Volatility

Volatility by Period

	USFE	FEMD	Difference
Volatility (1Y) Calculated over the trailing 1-year period	11.65%	20.10%	-8.45%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	11.65%	20.10%	-8.45%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	11.65%	20.10%	-8.45%

USFE vs. FEMD - Expense Ratio Comparison

USFE has a 0.45% expense ratio, which is lower than FEMD's 0.55% expense ratio.

Dividends

USFE vs. FEMD - Dividend Comparison

Neither USFE nor FEMD has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both USFE and FEMD in my portfolio?

USFE and FEMD have a correlation of 0.64, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, USFE or FEMD?

On fees, USFE is cheaper at 0.45% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, USFE or FEMD?

USFE is cheaper with a 0.45% expense ratio, compared with 0.55% for FEMD.

Which ETF pays a higher dividend yield, USFE or FEMD?

USFE and FEMD have nearly identical dividend yields, around 0.00%.

What is the main difference between USFE and FEMD?

USFE is categorized as Large Cap Value Equities, while FEMD is Mid Cap Value Equities. Their fees differ too: 0.45% for USFE and 0.55% for FEMD.